profit from every $100 of sales.
$0$100
NMI Holdings
$38.73-0.36% today
+3.2% in 1 year
1-year low $35.421-year high $45.71
Trading in the middle of its range for the past year.
The essentials
Four questions every investor asks, answered in one line each.
more sales each year, on average, 2022 to 2025.
0%20% a year
You pay $7.42 for every $1 of profit it makes in a year.
CheapExpensive
Not measured for banks and insurers: deposits and policy reserves count as debt, so the usual debt test says nothing about them.
Money in, money out
What NMI Holdings sold, what it kept, and what it did with the cash.
Sales went from $524 million in 2022 to $706 million in 2025, with $389 million of profit last year.
SalesProfit
NMI Holdings handed back 25% of the cash it generated last year.
Buybacks $105M
Free cash flow 2025$413M
Bought back its own shares$105M
Paid as dividends–
Cash vs. debt$44M vs. $417M
NMI Holdings vs. similar companies
NMI Holdings grows in the middle of these 5 and is the cheapest for its profits.
| Company | Profit from $100 of sales | Sales growth a year | Price per $1 of profit |
|---|---|---|---|
| NMI Holdings | 7.4× · Cheap | ||
 Assurant | 18.1× · Fair price | ||
 Fidelity National Financial | 19.7× · Fair price | ||
 Beazley | 8.5× · Cheap | ||
 Medibank Private | 29.3× · Fair price |
AI analysis
An AI analyst reads NMI Holdings's last five years, its segments, earnings, insiders and peers, and writes the bull case, the bear case and what the price expects.
Run the AI analysisFull statementsIncome, balance sheet and cash flow, year by year
Income statement
| In millions of USD | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| 524 | 579 | 651 | 706 | |
| – | – | – | – | |
| – | – | – | – | |
| 421 | 456 | 512 | 540 | |
| 293 | 322 | 360 | 389 | |
| 3.39 | 3.84 | 4.43 | 4.92 | |
| – | – | – | – | |
| – | – | – | – | |
| 55.8% | 55.6% | 55.3% | 55.1% |
Balance sheet
| In millions of USD | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total assets | 2,516 | 2,941 | 3,350 | 3,841 |
| Cash | 42 | 95 | 54 | 44 |
| Total debt | 396 | 398 | 415 | 417 |
| Total liabilities | 902 | 1,015 | 1,133 | 1,249 |
| 1,614 | 1,926 | 2,217 | 2,592 | |
| 86 | 84 | 81 | 79 | |
| 16.1% | 15.1% | 15.0% | 13.9% | |
| 18.2% | 16.7% | 16.2% | 15.0% |
Cash flow
| In millions of USD | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| 313 | 343 | 394 | 419 | |
| 11 | 9 | 7 | 7 | |
| 303 | 333 | 387 | 413 | |
| Dividends paid | – | – | – | – |
| 57 | 92 | 98 | 105 | |
| 15 | 17 | 20 | 20 |
This is a bank or insurer, so cash-flow and debt ratios are left out: borrowing and lending is the business itself. Price to book and return on equity are the measures that matter here.
Valuation
- 7.4×
- 7.6×
- 0.56
- 1.1×
- 4.1×
- 13.5%
- 0.0%
Profitability
- 55.1%
- 14.2%
- 15.4%
- 0.1%
- 0.0%
Growth
- +10.4%
- +13.2%
- –
- −2.8%
How it ranks in Financial Services
Each dot is where the company stands among every company over $300M in the sector. Further right is better.
Top 17%of 749
Top 9%of 603
Top 17%of 881
Top 48%of 884
Top 15%of 933
What analysts expect
- Average price target
- $43.50
- Range
- $43.00 – $44.00
These targets were collected on May 20, 2026 and our analyst feed has not updated since, so we no longer compare them with today's price.
Recent earnings
Our results feed has not updated since May 21, 2026. Results reported after that are not in this table yet.
| Date | EPS | Expected | Surprise |
|---|---|---|---|
| Apr 30, 2026 | 1.28 | 1.22 | +4.9% |
| Feb 10, 2026 | 1.20 | 1.17 | +2.6% |
| Nov 4, 2025 | 1.21 | 1.21 | +0.0% |
| Jul 29, 2025 | 1.22 | 1.16 | +5.2% |
| Apr 29, 2025 | 1.28 | 1.10 | +16.4% |
| Feb 6, 2025 | 1.07 | 1.11 | −3.6% |
| Nov 6, 2024 | 1.15 | 1.14 | +0.9% |
| Jul 30, 2024 | 1.20 | 1.05 | +14.3% |
News
Stock Market Today, Nov. 9: Grab Holdings Jumps on Record Adjusted EBITDA and Q3 Revenue BeatYahoo Finance · Nov 9, 2026DHT Holdings Q3 2026 Earnings PreviewSeeking Alpha · Nov 8, 2026Why ASML Holdings Fell in OctoberYahoo Finance · Nov 8, 2026Cannae Holdings Q3 2026 Earnings PreviewSeeking Alpha · Nov 8, 2026Why Koppers Holdings Stock Flopped on FridayYahoo Finance · Nov 7, 2026Insider trades
Our insider feed has not updated since May 26, 2026. Trades filed after that are not listed yet.
No insider trades on file.
The seven classic investing rulebooks
7/7Passes 7 of 7. Each bar is how well the company fits that investor's published rules, from 0 to 100; 60 or more counts as a pass.
Warren Buffett
87Pass
Benjamin Graham
84Pass
Philip Fisher
88Pass
Peter Lynch
79Pass
Joel Greenblatt
70Pass
Charlie Munger
80Pass
Terry Smith
73Pass
Questions about NMI Holdings
Is NMI Holdings a good stock to buy?
A strong, very profitable business, and the price looks low. 7 of the 7 famous investors' published rulebooks we apply pass it. Whether it suits you depends on your goals and the price you pay; invest-like never tells anyone to buy or sell. The AI analysis lays out the case for and against. Read the NMI Holdings AI analysis
What does NMI Holdings do?
NMI Holdings, Inc., together with its subsidiaries, provides private mortgage guaranty insurance services in the United States. It provides primary mortgage insurance services; and outsourced loan review services to mortgage loan originators. It is in Insurance - Specialty, based in EmeryVille, CA, United States, with 225 employees.
Does NMI Holdings pay a dividend?
No. NMI Holdings does not pay a dividend at the moment; in 2025 it returned $105 million to shareholders by buying back its own shares.
Is NMI Holdings stock halal?
No. NMI Holdings does not pass our halal screen: its main business, conventional insurance, is not permitted. How we check
How has NMI Holdings stock done over the past year?
Up 3.2% over the past twelve months, to $38.73. It traded between $35.42 and $45.71 and is 15.3% below its high.
Who are NMI Holdings's competitors?
The largest listed companies in the same industry are Assurant, Fidelity National Financial, Beazley and Medibank Private. The peers table on this page compares their profit, growth and price with NMI Holdings's.
Prices: daily closes to Nov 10, 2026. Fundamentals: company reports via invest-like data.