NMIH Stock Analysis: NMI Holdings | NASDAQ
Insurance - Specialty | NASDAQ, USA | Market Cap: 3.203m USD | 12M Return: 17.4% | US6292093050 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 33.2M
EPS Trend: 96.5%
Qual. Beats: 1
Rev. Trend: 99.1%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
No distinct edge detected
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 (545.7m): 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 31, 2026, the stock is trading at USD 42.67 with a total of 604,409 shares traded. Over the past week, the price has changed by +0.28%, over one month by +4.76%, over three months by -1.77% and over the past year by +17.39%.
Current recommended Stop Loss: 41.00 (which is 3.9% 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 | 48.9 | 14.6% |
P/E Trailing = 8.3327
P/E Forward = 7.8309
P/S = 4.3827
P/B = 1.1909
P/EG = 1.66
Revenue TTM = 730.5m USD
EBIT TTM = 535.2m USD
EBITDA TTM = 545.7m 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 = 3.55b USD (3.20b + Debt 418.0m - CCE 72.1m)
Interest Coverage Ratio = 18.79 (Ebit TTM 535.2m / Interest Expense TTM 28.5m)
EV/FCF = 8.04x (Enterprise Value 3.55b / FCF TTM 441.6m)
FCF Yield = 12.44% (FCF TTM 441.6m / Enterprise Value 3.55b)
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 = 0.89 (Enterprise Value 3.55b / 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 545.7m)
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 = 6.55% (E(3.20b)/V(3.62b) * Re(6.71%) + D(418.0m)/V(3.62b) * Rd(6.81%) * (1-Tc(0.22)))
Discount Rate = 6.71% (= 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=1.31 | Chg30d=+1.52% | Revisions=+29% | Analysts=7
EPS current Year (2026-12-31): EPS=5.28 | Chg30d=+0.48% | Revisions=-40% | GrowthEPS=+7.4% | GrowthRev=+6.6%
EPS next Year (2027-12-31): EPS=5.51 | Chg30d=+0.59% | Revisions=-25% | GrowthEPS=+3.7% | GrowthRev=+5.4%
[Analyst] Revisions Ratio: -10% (up=3, down=4)