NMIH

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NMI Holdings Inc

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Key Metrics

Previous Close: $45.66
52-Week Range: $34.84 – $46.74
Market Cap: $3.41B
P/E (TTM): 8.94
EPS (TTM): 5.08
Dividend Yield: —

Advanced Metrics

Price/Book: 1.26
PEG Ratio: —
Return on Equity: 15.43%
Return on Assets: 8.82%
Gross Margin: 76.38%
Operating Margin: 76.67%
Profit Margin: 54.10%
Current Ratio: 2.03
Debt/Equity: 0.16
Total Debt: $426.15M
Free Cash Flow: $329.76M
Revenue Growth: 8.10%
Earnings Growth: 14.10%
Enterprise Value: $3.70B

NMIH Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$524.46M	$579.00M	$650.97M	$706.44M
Pretax Income	$377.31M	$412.70M	$463.41M	$499.80M
Income Tax	$84.40M	$90.59M	$103.31M	$110.88M
Net Income	$292.90M	$322.11M	$360.11M	$388.93M
Diluted EPS	3.39	3.84	4.43	4.92
Diluted Shares	86.00M	83.85M	81.27M	79.04M

NMIH Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$42.25M	$95.35M	$54.22M	$43.94M
Receivables	$91.27M	$103.97M	$115.06M	$124.84M
Total Assets	$2.52B	$2.94B	$3.35B	$3.84B
Long-Term Debt	$396.05M	$397.60M	$415.15M	$417.03M
Total Debt	$396.05M	$397.60M	$415.15M	$417.03M
Total Liabilities	$902.30M	$1.01B	$1.13B	$1.25B
Retained Earnings	$901.04M	$1.22B	$1.58B	$1.97B
Shareholders' Equity	$1.61B	$1.93B	$2.22B	$2.59B
Net Debt	$353.80M	$302.24M	$360.93M	$373.09M

NMIH Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$313.39M	$342.68M	$393.60M	$419.30M
Capital Expenditure	-$10.57M	-$9.37M	-$6.91M	-$6.78M
Free Cash Flow	$302.82M	$333.31M	$386.70M	$412.52M
Depreciation & Amortisation	$11.87M	$11.54M	$11.94M	$11.26M
Stock-Based Compensation	$15.43M	$16.91M	$19.81M	$20.19M
Investing Cash Flow	-$289.79M	-$200.00M	-$339.29M	-$316.47M
Financing Cash Flow	-$55.83M	-$90.42M	-$96.70M	-$113.20M
Share Repurchases	-$56.58M	-$91.61M	-$97.61M	-$105.10M
Net Change in Cash	-$32.22M	$52.26M	-$42.38M	-$10.37M

NMIH Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$173.25M	$173.78M	$178.68M	$180.74M	$183.47M
Pretax Income	$131.37M	$123.60M	$123.68M	$121.15M	$124.94M
Income Tax	$28.81M	$27.45M	$27.68M	$26.93M	$25.61M
Net Income	$102.56M	$96.15M	$96.00M	$94.22M	$99.33M
Diluted EPS	1.28	1.21	1.22	1.20	1.28
Diluted Shares	79.86M	79.26M	78.83M	78.21M	77.44M

NMIH Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$74.12M	$84.01M	$130.44M	$43.94M	$70.68M
Receivables	$115.53M	$116.35M	$121.05M	$124.84M	$126.56M
Total Assets	$3.46B	$3.59B	$3.73B	$3.84B	$3.91B
Long-Term Debt	$415.61M	$416.07M	$416.55M	$417.03M	$417.52M
Total Debt	$415.61M	$416.07M	$416.55M	$417.03M	$417.52M
Total Liabilities	$1.13B	$1.17B	$1.21B	$1.25B	$1.28B
Retained Earnings	$1.69B	$1.78B	$1.88B	$1.97B	$2.07B
Shareholders' Equity	$2.32B	$2.42B	$2.51B	$2.59B	$2.63B
Net Debt	$341.49M	$332.06M	$286.11M	$373.09M	$346.84M

NMIH Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	$101.15M	$128.36M	$128.05M	$61.74M	$116.09M
Capital Expenditure	-$1.71M	-$1.65M	-$1.78M	-$1.65M	-$1.10M
Free Cash Flow	$99.44M	$126.71M	$126.27M	$60.09M	$114.99M
Depreciation & Amortisation	$2.89M	$2.84M	$2.84M	$2.70M	$2.48M
Stock-Based Compensation	$4.51M	$4.96M	$4.50M	$6.22M	$4.68M
Investing Cash Flow	-$47.66M	-$94.13M	-$57.02M	-$117.66M	-$47.91M
Financing Cash Flow	-$33.59M	-$24.42M	-$24.60M	-$30.59M	-$41.44M
Share Repurchases	-$25.94M	-$23.98M	-$24.59M	-$30.59M	-$27.68M
Net Change in Cash	$19.90M	$9.80M	$46.43M	-$86.50M	$26.74M

Market Snapshot

About

NMI Holdings Inc. is a private mortgage insurance company that provides mortgage guaranty insurance to lenders and government-sponsored enterprises. The company helps facilitate homeownership by enabling borrowers to purchase homes with down payments of less than 20 percent.