(NMIH) NMI Holdings - Overview
Stock: Mortgage Insurance, Loan Review
EPS (Earnings per Share)
Revenue
| Risk 5d forecast | |
|---|---|
| Volatility | 24.6% |
| Relative Tail Risk | 0.12% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.00 |
| Alpha | -12.23 |
| Character TTM | |
|---|---|
| Beta | 0.638 |
| Beta Downside | 0.700 |
| Drawdowns 3y | |
|---|---|
| Max DD | 21.42% |
| CAGR/Max DD | 0.87 |
Description: NMIH NMI Holdings January 11, 2026
NMI Holdings, Inc. (NASDAQ: NMIH) is a specialty insurer that underwrites private mortgage-guaranty insurance for a broad spectrum of U.S. lenders, ranging from large money-center banks to boutique, internet-originated loan firms. Its product suite includes primary mortgage insurance and outsourced loan-review services, positioning the firm as a risk-mitigation partner across the residential mortgage pipeline.
Ticker Symbol: NMIH | Share Class: Common Stock | Country of Origin: United States | GICS Sub-Industry: Commercial & Residential Mortgage Finance.
Key operating metrics (FY 2023): net premiums written of roughly $190 million, a combined ratio near 85 % (indicating underwriting profitability), and a capital adequacy ratio of 12 % under NAIC standards. The business is highly sensitive to the federal funds rate-higher rates compress mortgage origination volumes, while lower rates expand the addressable market. Additionally, the ongoing housing inventory shortage and rising home prices support demand for mortgage insurance despite cyclical loan-volume swings.
For a deeper, data-driven view of NMIH’s valuation dynamics, you might explore the analytics platform ValueRay for its proprietary risk-adjusted pricing models.
Piotroski VR‑10 (Strict, 0-10) 6.5
| Net Income: 380.9m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.10 > 0.02 and ΔFCF/TA -1.26 > 1.0 |
| NWC/Revenue: -15.31% < 20% (prev 19.51%; Δ -34.82% < -1%) |
| CFO/TA 0.11 > 3% & CFO 393.4m > Net Income 380.9m |
| Net Debt (286.1m) to EBITDA (529.5m): 0.54 < 3 |
| Current Ratio: 0.67 > 1.5 & < 3 |
| Outstanding Shares: last quarter (78.8m) vs 12m ago -2.73% < -2% |
| Gross Margin: 92.16% > 18% (prev 0.96%; Δ 9119 % > 0.5%) |
| Asset Turnover: 19.64% > 50% (prev 19.15%; Δ 0.49% > 0%) |
| Interest Coverage Ratio: 18.21 > 6 (EBITDA TTM 529.5m / Interest Expense TTM 28.4m) |
Altman Z'' 4.02
| A: -0.03 (Total Current Assets 216.2m - Total Current Liabilities 322.2m) / Total Assets 3.73b |
| B: 0.50 (Retained Earnings 1.88b / Total Assets 3.73b) |
| C: 0.15 (EBIT TTM 518.0m / Avg Total Assets 3.52b) |
| D: 1.51 (Book Value of Equity 1.83b / Total Liabilities 1.21b) |
| Altman-Z'' Score: 4.02 = AA |
Beneish M -2.91
| DSRI: 1.03 (Receivables 121.0m/107.7m, Revenue 692.2m/635.8m) |
| GMI: 1.05 (GM 92.16% / 96.34%) |
| AQI: 0.98 (AQ_t 0.94 / AQ_t-1 0.95) |
| SGI: 1.09 (Revenue 692.2m / 635.8m) |
| TATA: -0.00 (NI 380.9m - CFO 393.4m) / TA 3.73b) |
| Beneish M-Score: -2.91 (Cap -4..+1) = A |
What is the price of NMIH shares?
Over the past week, the price has changed by +0.28%, over one month by -6.30%, over three months by +9.05% and over the past year by +0.65%.
Is NMIH a buy, sell or hold?
- StrongBuy: 3
- Buy: 2
- Hold: 2
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the NMIH price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 45.1 | 16.3% |
| Analysts Target Price | 45.1 | 16.3% |
| ValueRay Target Price | 43.6 | 12.5% |
NMIH Fundamental Data Overview January 26, 2026
P/E Forward = 7.1788
P/S = 4.2294
P/B = 1.1535
P/EG = 1.66
Revenue TTM = 692.2m USD
EBIT TTM = 518.0m USD
EBITDA TTM = 529.5m USD
Long Term Debt = 416.5m USD (from longTermDebt, last quarter)
Short Term Debt = 2.37m USD (from shortTermDebt, last fiscal year)
Debt = 416.5m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 286.1m USD (from netDebt column, last quarter)
Enterprise Value = 2.84b USD (2.93b + Debt 416.5m - CCE 505.8m)
Interest Coverage Ratio = 18.21 (Ebit TTM 518.0m / Interest Expense TTM 28.4m)
EV/FCF = 7.34x (Enterprise Value 2.84b / FCF TTM 386.8m)
FCF Yield = 13.63% (FCF TTM 386.8m / Enterprise Value 2.84b)
FCF Margin = 55.89% (FCF TTM 386.8m / Revenue TTM 692.2m)
Net Margin = 55.02% (Net Income TTM 380.9m / Revenue TTM 692.2m)
Gross Margin = 92.16% ((Revenue TTM 692.2m - Cost of Revenue TTM 54.3m) / Revenue TTM)
Gross Margin QoQ = 89.53% (prev 92.20%)
Tobins Q-Ratio = 0.76 (Enterprise Value 2.84b / Total Assets 3.73b)
Interest Expense / Debt = 1.71% (Interest Expense 7.12m / Debt 416.5m)
Taxrate = 22.38% (27.7m / 123.7m)
NOPAT = 402.0m (EBIT 518.0m * (1 - 22.38%))
Current Ratio = 0.67 (Total Current Assets 216.2m / Total Current Liabilities 322.2m)
Debt / Equity = 0.17 (Debt 416.5m / totalStockholderEquity, last quarter 2.51b)
Debt / EBITDA = 0.54 (Net Debt 286.1m / EBITDA 529.5m)
Debt / FCF = 0.74 (Net Debt 286.1m / FCF TTM 386.8m)
Total Stockholder Equity = 2.37b (last 4 quarters mean from totalStockholderEquity)
RoA = 10.81% (Net Income 380.9m / Total Assets 3.73b)
RoE = 16.08% (Net Income TTM 380.9m / Total Stockholder Equity 2.37b)
RoCE = 18.60% (EBIT 518.0m / Capital Employed (Equity 2.37b + L.T.Debt 416.5m))
RoIC = 14.44% (NOPAT 402.0m / Invested Capital 2.78b)
WACC = 7.41% (E(2.93b)/V(3.34b) * Re(8.27%) + D(416.5m)/V(3.34b) * Rd(1.71%) * (1-Tc(0.22)))
Discount Rate = 8.27% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -100.0 | Cagr: -2.36%
[DCF Debug] Terminal Value 81.12% ; FCFF base≈386.7m ; Y1≈410.7m ; Y5≈490.5m
Fair Price DCF = 122.0 (EV 9.66b - Net Debt 286.1m = Equity 9.38b / Shares 76.9m; r=7.41% [WACC]; 5y FCF grow 6.88% → 2.90% )
EPS Correlation: -1.05 | EPS CAGR: -43.77% | SUE: -4.0 | # QB: 0
Revenue Correlation: 99.13 | Revenue CAGR: 9.95% | SUE: 0.08 | # QB: 0
EPS next Quarter (2026-03-31): EPS=1.23 | Chg30d=+0.003 | Revisions Net=+2 | Analysts=5
EPS next Year (2026-12-31): EPS=5.11 | Chg30d=+0.030 | Revisions Net=+1 | Growth EPS=+4.1% | Growth Revenue=+5.4%