NMIH Stock Analysis: NMI Holdings | NASDAQ
Insurance - Specialty | NASDAQ, USA | Market Cap: 3.064m USD | 12M Return: 4.2% | US6292093050 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 26.8M
EPS Trend: 96.5%
Qual. Beats: 1
Rev. Trend: 99.1%
Qual. Beats: 0
Warnings
Tailwinds
Seasonality 11.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
NMI Holdings, Inc. operates as a U.S. provider of private mortgage guaranty insurance, offering primary mortgage insurance and outsourced loan review services to mortgage loan originators. Its customer base spans a broad range of lenders, including national and regional mortgage banks, money center banks, credit unions, community banks, builder-owned mortgage lenders, internet-sourced lenders, and other non-bank lenders. The company was incorporated in 2011 and is headquartered in Emeryville, California.
As a mid-cap financial stock listed on NASDAQ, NMI Holdings operates in the Commercial & Residential Mortgage Finance sub-industry. Private mortgage insurance (PMI) protects lenders against losses when borrowers default on loans with low down payments, typically serving as a key enabler of homeownership for borrowers who cannot put down a 20% deposit.
- Mortgage origination volume declines as rates remain elevated
- Home price softening pressures insurance loss reserves and claims
- Persistency rates improve as borrowers refrain from refinancing
| Net Income: 395.3m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.11 > 0.02 and ΔFCF/TA 0.10 > 1.0 |
| NWC/Revenue: -22.57% < 20% (prev 63.04%; Δ -85.61% < -1%) |
| CFO/TA 0.11 > 3% & CFO 448.5m > Net Income 395.3m |
| Net Debt (345.9m) to EBITDA (548.2m): 0.63 < 3 |
| Current Ratio: 0.54 > 1.5 & < 3 |
| Outstanding Shares: last quarter (76.6m) vs 12m ago -3.37% < -2% |
| Gross Margin: 89.91% > 18% (prev 93.21%; Δ -3.30% > 0.5%) |
| Asset Turnover: 19.25% > 50% (prev 18.93%; Δ 0.33% > 0%) |
| Interest Coverage Ratio: 18.79 > 6 (EBIT TTM 535.2m / Interest Expense TTM 28.5m) |
| A: -0.04 (Total Current Assets 189.8m - Total Current Liabilities 354.7m) / Total Assets 4.00b |
| B: 0.54 (Retained Earnings 2.18b / Total Assets 4.00b) |
| C: 0.14 (EBIT TTM 535.2m / Avg Total Assets 3.79b) |
| D: 2.09 (Book Value of Equity 2.71b / Total Liabilities 1.29b) |
| Altman-Z'' = 4.65 = AA |
| DSRI: 0.57 (Receivables 86.8m/140.7m, Revenue 730.5m/679.6m) |
| GMI: 1.04 (GM 93.21% / 89.91%) |
| AQI: 1.29 (AQ_t 0.95 / AQ_t-1 0.74) |
| SGI: 1.07 (Revenue 730.5m / 679.6m) |
| TATA: -0.01 (NI 395.3m - CFO 448.5m) / TA 4.00b) |
| Beneish M = -3.12 (Cap -4..+1) = AA |
As of October 03, 2026, the stock is trading at USD 38.83 with a total of 1,016,358 shares traded. Over the past week, the price has changed by -5.82%, over one month by -12.88%, over three months by -5.38% and over the past year by +4.21%.
Current recommended Stop Loss: 37.10 (which is 4.5% or 1.5 ATR below the current price).
NMI Holdings has received a consensus analysts rating of 4.14. Therefore, it is recommended to buy NMIH.
- StrongBuy: 3
- Buy: 2
- Hold: 2
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 49.9 | 28.4% |
P/E Trailing = 8.0653
P/E Forward = 7.7042
P/S = 4.1923
P/B = 1.172
P/EG = 1.66
Revenue TTM = 730.5m USD
EBIT TTM = 535.2m USD
EBITDA TTM = 548.2m USD
Long Term Debt = 418.0m USD (from longTermDebt, last quarter)
Short Term Debt = 2.21m USD (from shortTermDebt, last fiscal year)
Debt = 418.0m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 345.9m USD (calculated: Debt 418.0m - CCE 72.1m)
Enterprise Value = 3.41b USD (3.06b + Debt 418.0m - CCE 72.1m)
Interest Coverage Ratio = 18.79 (Ebit TTM 535.2m / Interest Expense TTM 28.5m)
EV/FCF = 7.72x (Enterprise Value 3.41b / FCF TTM 441.6m)
FCF Yield = 12.95% (FCF TTM 441.6m / Enterprise Value 3.41b)
FCF Margin = 60.45% (FCF TTM 441.6m / Revenue TTM 730.5m)
Net Margin = 54.12% (Net Income TTM 395.3m / Revenue TTM 730.5m)
Gross Margin = 89.91% ((Revenue TTM 730.5m - Cost of Revenue TTM 73.7m) / Revenue TTM)
Gross Margin QoQ = 93.00% (prev 88.74%)
Tobins Q-Ratio = 0.85 (Enterprise Value 3.41b / Total Assets 4.00b)
Interest Expense / Debt = 6.81% (Interest Expense 28.5m / Debt 418.0m)
Taxrate = 21.98% (111.4m / 506.7m)
NOPAT = 417.6m (EBIT 535.2m * (1 - 21.98%))
Current Ratio = 0.54 (Total Current Assets 189.8m / Total Current Liabilities 354.7m)
Debt / Equity = 0.15 (Debt 418.0m / totalStockholderEquity, last quarter 2.71b)
Debt / EBITDA = 0.63 (Net Debt 345.9m / EBITDA 548.2m)
Debt / FCF = 0.78 (Net Debt 345.9m / FCF TTM 441.6m)
Total Stockholder Equity = 2.61b (last 4 quarters mean from totalStockholderEquity)
RoA = 10.42% (Net Income 395.3m / Total Assets 4.00b)
RoE = 15.14% (Net Income TTM 395.3m / Total Stockholder Equity 2.61b)
RoCE = 17.67% (EBIT 535.2m / Capital Employed (Equity 2.61b + L.T.Debt 418.0m))
RoIC = 11.57% (NOPAT 417.6m / Invested Capital 3.61b)
WACC = 6.93% (E(3.06b)/V(3.48b) * Re(7.15%) + D(418.0m)/V(3.48b) * Rd(6.81%) * (1-Tc(0.22)))
Discount Rate = 7.15% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -99.51 | Cagr: -3.04%
[DCF] Terminal Value 76.92% ; FCFF base≈422.2m ; Y1≈467.2m ; Y5≈601.0m
[DCF] Fair Price = 117.3 (EV 9.17b - Net Debt 345.9m = Equity 8.82b / Shares 75.2m; r=8.35% [WACC [floored]]; 5y FCF grow 12.36% → 2.50% )
EPS Correlation: 96.53 | EPS CAGR: 11.59% | SUE: 1.37 | # QB: 1
Revenue Correlation: 99.14 | Revenue CAGR: 9.94% | SUE: 0.32 | # QB: 0
EPS current Quarter (2026-09-30): EPS=1.30 | Chg30d=+0.64% | Revisions=+29% | Analysts=7
EPS current Year (2026-12-31): EPS=5.28 | Chg30d=+0.41% | Revisions=+67% | GrowthEPS=+7.3% | GrowthRev=+6.8%
EPS next Year (2027-12-31): EPS=5.55 | Chg30d=+1.29% | Revisions=+57% | GrowthEPS=+4.6% | GrowthRev=+4.7%
[Analyst] Revisions Ratio: +71% (up=13, down=1)