Enact Holdings, Inc. (ACT) vs Fidelity National Financial, Inc. (FNF)

Enact Holdings, Inc. and Fidelity National Financial, Inc. are both Insurance Specialty companies. Fidelity National Financial, Inc. is the larger, with a market value of $11.0B against $6.5B — 1.7× the size. Enact Holdings, Inc. trades at the lower P/E: 9.8× against 14.6×. Fidelity National Financial, Inc. grew revenue faster over the last twelve months: 13.0% against 2.49%. Enact Holdings, Inc. has the higher net margin (54.5% vs 5.03%) and the lower return on invested capital (9.51% vs 11.3%). Both pay a dividend; Enact Holdings, Inc. yields more (5.12% vs 3.60%). Across the 23 metrics below, Enact Holdings, Inc. leads on 15 and Fidelity National Financial, Inc. on 8.

Valuation

Metric ACT FNF Insurance Specialty median
P/E 9.85 14.62 9.15
P/S 5.23 0.72 1.84
P/B 1.21 1.26 1.16
Price to free cash flow 9.09 2.04 8.16
EV/EBITDA 7.51 4.14 7.51
EV/Sales 5.46 0.77 2.17
Earnings yield 10.16% 6.84% 10.79%
Free cash flow yield 11.00% 49.08% 11.79%

Profitability

Metric ACT FNF Insurance Specialty median
Gross margin 73.81% 55.91% 73.81%
Operating margin 73.11% 12.91% 17.70%
Net margin 54.51% 5.03% 13.80%
Free cash flow margin 57.50% 35.34% 34.47%
Return on equity 12.87% 8.76% 12.01%
Return on assets 9.95% 0.71% 4.12%
Return on invested capital 9.51% 11.32% 8.77%

Growth

Metric ACT FNF Insurance Specialty median
Revenue growth (TTM) 2.49% 13.03% 7.53%
EPS growth (last fiscal year) 3.43% (50.71%) —
Revenue growth, 5-year CAGR 2.24% 6.03% 2.24%
Net income growth, 5-year CAGR 12.73% (15.85%) 0.00%

Health

Metric ACT FNF Insurance Specialty median
Debt to equity 0.14 0.50 0.15
Current ratio 0.76 0.25 0.53
Net debt to EBITDA 0.18 0.71 0.28

Dividend

Metric ACT FNF Insurance Specialty median
Dividend yield 5.12% 3.60% 2.60%
Payout ratio 0.14 1.32 0.21

Size

Metric ACT FNF Insurance Specialty median
Market cap 6.53b 10.95b 3.13b

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