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ACT (Enact Holdings) Piotroski F-Score : 7 (As of Jul. 12, 2025)


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What is Enact Holdings Piotroski F-Score?

Good Sign:

Piotroski F-Score is 7, indicates a very healthy situation.

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Enact Holdings has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for Enact Holdings's Piotroski F-Score or its related term are showing as below:

ACT' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 6   Max: 7
Current: 7

During the past 6 years, the highest Piotroski F-Score of Enact Holdings was 7. The lowest was 4. And the median was 6.


Enact Holdings Piotroski F-Score Historical Data

The historical data trend for Enact Holdings's Piotroski F-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Enact Holdings Piotroski F-Score Chart

Enact Holdings Annual Data
Trend Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Piotroski F-Score
Get a 7-Day Free Trial N/A N/A 5.00 6.00 4.00

Enact Holdings Quarterly Data
Dec19 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 7.00 7.00 7.00 4.00 7.00

Competitive Comparison of Enact Holdings's Piotroski F-Score

For the Insurance - Specialty subindustry, Enact Holdings's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Enact Holdings's Piotroski F-Score Distribution in the Insurance Industry

For the Insurance industry and Financial Services sector, Enact Holdings's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Enact Holdings's Piotroski F-Score falls into.


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How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Mar25) TTM:Last Year (Mar24) TTM:
Net Income was 183.673 + 180.669 + 162.738 + 165.778 = $693 Mil.
Cash Flow from Operations was 144.7 + 188.136 + 166.13 + 226.724 = $726 Mil.
Revenue was 298.834 + 309.588 + 304.691 + 306.891 = $1,220 Mil.
Average Total Assets from the begining of this year (Mar24)
to the end of this year (Mar25) was
(6303.683 + 6349.372 + 6597.046 + 6521.531 + 6721.52) / 5 = $6498.6304 Mil.
Total Assets at the begining of this year (Mar24) was $6,304 Mil.
Long-Term Debt & Capital Lease Obligation was $743 Mil.
Total Assets was $6,722 Mil.
Total Liabilities was $1,602 Mil.
Net Income was 168.02 + 164.195 + 157.308 + 160.988 = $651 Mil.

Revenue was 277.522 + 299.035 + 296.19 + 291.587 = $1,164 Mil.
Average Total Assets from the begining of last year (Mar23)
to the end of last year (Mar24) was
(5842.231 + 5923.86 + 6000.688 + 6190.473 + 6303.683) / 5 = $6052.187 Mil.
Total Assets at the begining of last year (Mar23) was $5,842 Mil.
Long-Term Debt & Capital Lease Obligation was $746 Mil.
Total Assets was $6,304 Mil.
Total Liabilities was $1,590 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Enact Holdings's current Net Income (TTM) was 693. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Enact Holdings's current Cash Flow from Operations (TTM) was 726. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Mar24)
=692.858/6303.683
=0.1099132

ROA (Last Year)=Net Income/Total Assets (Mar23)
=650.511/5842.231
=0.11134633

Enact Holdings's return on assets of this year was 0.1099132. Enact Holdings's return on assets of last year was 0.11134633. ==> Last year is higher ==> Score 0.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Enact Holdings's current Net Income (TTM) was 693. Enact Holdings's current Cash Flow from Operations (TTM) was 726. ==> 726 > 693 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=743.399/6498.6304
=0.11439318

Gearing (Last Year: Mar24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar23 to Mar24
=746.09/6052.187
=0.1232761

Enact Holdings's gearing of this year was 0.11439318. Enact Holdings's gearing of last year was 0.1232761. ==> This year is lower or equal to last year. ==> Score 1.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

* Note that for banks and insurance companies, there's no Total Current Assets and Total Current Liabilities reported. Thus, we use Total Assets and Total Liabilities to calculate current ratio for banks and insurance companies.

Current Ratio (This Year: Mar25)=Total Assets/Total Liabilities
=6721.52/1602.113
=4.19540944

Current Ratio (Last Year: Mar24)=Total Assets/Total Liabilities
=6303.683/1589.919
=3.96478248

Enact Holdings's current ratio of this year was 4.19540944. Enact Holdings's current ratio of last year was 3.96478248. ==> This year's current ratio is higher. ==> Score 1.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Enact Holdings's number of shares in issue this year was 152.907. Enact Holdings's number of shares in issue last year was 160.087. ==> There is smaller number of shares in issue this year, or the same. ==> Score 1.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

* Note that for banks and insurance companies, there's no Gross Profit reported. Thus, we use net income instead of gross profit and calculate Net Margin for this score.

Net Margin (This Year: TTM)=Net Income/Revenue
=692.858/1220.004
=0.56791453

Net Margin (Last Year: TTM)=Net Income/Revenue
=650.511/1164.334
=0.55869793

Enact Holdings's net margin of this year was 0.56791453. Enact Holdings's net margin of last year was 0.55869793. ==> This year's net margin is higher. ==> Score 1.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Mar24)
=1220.004/6303.683
=0.19353829

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar23)
=1164.334/5842.231
=0.19929613

Enact Holdings's asset turnover of this year was 0.19353829. Enact Holdings's asset turnover of last year was 0.19929613. ==> Last year's asset turnover is higher ==> Score 0.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+0+1+1+1+1+1+0
=7

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Enact Holdings has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

Enact Holdings  (NAS:ACT) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Enact Holdings Piotroski F-Score Related Terms

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Enact Holdings Business Description

Traded in Other Exchanges
N/A
Address
8325 Six Forks Road, Raleigh, NC, USA, 27615
Enact Holdings Inc is a private mortgage insurance company serving the United States housing finance market. The principal mortgage insurance customers are originators of residential mortgage loans who determine which mortgage insurer or insurers will be used for the placement of mortgage insurance written on loans originated. The company is engaged in writing and assuming residential mortgage guaranty insurance.
Executives
James Mcmullen officer: Controller C/O GENWORTH MORTGAGE HOLDINGS, INC., 8325 SIX FORKS ROAD, RALEIGH NC 27615
Genworth Holdings, Inc. 10 percent owner 6620 WEST BROAD STREET, RICHMOND VA 23230
Brian Gould officer: EVP & Chief Operations Officer 8325 SIX FORKS ROAD, RALEIGH NC 27615
Evan Stolove officer: EVP, Gen. Counsel & Secretary 8325 SIX FORKS ROAD, RALEIGH NC 27615
Michael Derstine officer: EVP and Chief Risk Officer 8325 SIX FORKS ROAD, RALEIGH NC 27615
Rohit Gupta director, officer: President and CEO C/O GENWORTH FINANCIAL, INC., 6620 WEST BROAD STREET, RICHMOND VA 23230
Jerome T Upton director GENWORTH FINANCIAL, INC., 6620 WEST BROAD STREET, RICHMOND VA 23230
Michael A Bless director C/O ROCKWELL INTERNATIONAL INC, 777 E. WISCONSIN AVE #1400, MILWAUKEE WI 53202
Sheehan Daniel J Iv director 6620 WEST BROAD STREET, RICHMOND VA 23230
Hardin Dean Mitchell officer: EVP, CFO and Treasurer 8325 SIX FORKS ROAD, RALEIGH NC 27615
Anne G Waleski director 1508 WEST AVENUE, RICHMOND VA 23220
Westley V Thompson director THE PHOENIX COMPANIES, INC., ONE AMERICAN ROW, HARTFORD CT 06102
Debra Still director 520 MADISON AVE, 32ND FL, C/O CHIMERA INVESTMENT CORPORATION, NEW YORK NY 10022
John D Fisk director C/O AGNC INVESTMENT CORP., 7373 WISCONSIN AVENUE, 22ND FLOOR, BETHESDA MD 20814
Restrepo Robert P Jr director