Overview Dividends

(NMIH) NMI Holdings - Ratings and Ratios

Exchange: NASDAQ • Country: United States • Currency: USD • Type: Common Stock • ISIN: US6292093050

Primary Mortgage Insurance, Loan Review

EPS (Earnings per Share)

EPS CAGR: 13.22%
EPS Trend: 92.0%

Last SUE: 0.00σ
Qual. Beats: 0

Revenue

Revenue CAGR: 11.30%
Revenue Trend: 99.0%

Last SUE: 0.08σ
Qual. Beats: 0

Risk via 10d forecast
Volatility	23.7%
Value at Risk 5%th	39.2%
Relative Tail Risk	0.50%

Reward TTM
Sharpe Ratio	-0.11
Alpha	-11.72

Character TTM
Hurst Exponent	0.513
Beta	0.645
Beta Downside	0.755

Drawdowns 3y
Max DD	21.42%
Mean DD	6.50%
Median DD	5.74%

Description: NMIH NMI Holdings November 08, 2025

NMI Holdings, Inc. (NASDAQ: NMIH) is a U.S.-based provider of private mortgage guaranty insurance and outsourced loan-review services. Its offerings support a broad client base that includes national and regional mortgage banks, money-center banks, credit unions, community banks, builder-owned lenders, internet-originated lenders, and other non-bank mortgage originators. Incorporated in 2011 and headquartered in Emeryville, California, the firm operates within the Commercial & Residential Mortgage Finance sub-industry.

As of the most recent fiscal year, NMI reported approximately $260 million in written premium, with a loss ratio of roughly 14 % and a combined ratio near 84 %, indicating solid underwriting discipline. The companys return on equity hovered around 11 %, and its capital adequacy ratio exceeds regulatory minimums, providing a buffer against potential spikes in mortgage defaults. Key macro drivers for NMI include the prevailing level of mortgage rates-higher rates tend to suppress loan origination volumes but can improve spread on insurance premiums-and the health of the U.S. housing market, where a slowdown in housing starts or a rise in delinquency rates could pressure loss ratios.

For a deeper, data-driven look at NMI’s valuation metrics and peer comparisons, you might find ValueRay’s analytical platform worth exploring.

NMIH Stock Overview

Market Cap in USD	2,919m
Sub-Industry	Commercial & Residential Mortgage Finance
IPO / Inception	2013-11-08
Return 12m vs S&P 500	-17.0%
Analyst Rating	4.14 of 5

NMIH Dividends

Currently no dividends paid

NMIH Growth Ratios

Metric	Value
CAGR 3y	21.65%
CAGR/Max DD Calmar Ratio	1.01
CAGR/Mean DD Pain Ratio	3.33
Current Volume	531.9k
Average Volume	461.3k

Piotroski VR‑10 (Strict, 0-10) 5.5

Net Income (380.9m TTM) > 0 and > 6% of Revenue (6% = 41.5m TTM)

FCFTA 0.10 (>2.0%) and ΔFCFTA -1.26pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue -15.31% (prev 19.51%; Δ -34.82pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.11 (>3.0%) and CFO 393.4m > Net Income 380.9m (YES >=105%, WARN >=100%)

Net Debt (286.1m) to EBITDA (529.5m) ratio: 0.54 <= 3.0 (WARN <= 3.5)

Current Ratio 0.67 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (78.8m) change vs 12m ago -2.73% (target <= -2.0% for YES)

Gross Margin 92.16% (prev 96.34%; Δ -4.19pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 19.64% (prev 19.15%; Δ 0.49pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 18.21 (EBITDA TTM 529.5m / Interest Expense TTM 28.4m) >= 6 (WARN >= 3)

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 (Balance) 1.88b / Total Assets 3.73b

(D) 1.51 = Book Value of Equity 1.83b / Total Liabilities 1.21b

Total Rating: 4.02 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 89.79

1. Piotroski 5.50pt

2. FCF Yield 13.67%

3. FCF Margin 55.89%

4. Debt/Equity 0.17

5. Debt/Ebitda 0.54

6. ROIC - WACC (= 6.93)%

7. RoE 16.08%

8. Rev. Trend 98.97%

9. EPS Trend 92.04%

What is the price of NMIH shares?

As of November 25, 2025, the stock is trading at USD 37.62 with a total of 531,852 shares traded.
Over the past week, the price has changed by +2.73%, over one month by +1.90%, over three months by -5.02% and over the past year by -5.95%.

Is NMIH a buy, sell or hold?

NMI Holdings has received a consensus analysts rating of 4.14. Therefore, it is recommended to buy NMIH.

Strong Buy: 3
Buy: 2
Hold: 2
Sell: 0
Strong Sell: 0

What are the forecasts/targets for the NMIH price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	44.4	18.1%
Analysts Target Price	44.4	18.1%
ValueRay Target Price	41	9%

NMIH Fundamental Data Overview November 25, 2025

Market Cap USD = 2.92b (2.92b USD * 1.0 USD.USD)
P/E Trailing = 7.856
P/E Forward = 7.3692
P/S = 4.2171
P/B = 1.1502
P/EG = 1.66
Beta = 0.671
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 = 2.83b USD (2.92b + Debt 416.5m - CCE 505.8m)
Interest Coverage Ratio = 18.21 (Ebit TTM 518.0m / Interest Expense TTM 28.4m)
FCF Yield = 13.67% (FCF TTM 386.8m / Enterprise Value 2.83b)
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 2.83b / 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 = 10.22% (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 = 7.51% (E(2.92b)/V(3.34b) * Re(8.39%) + D(416.5m)/V(3.34b) * Rd(1.71%) * (1-Tc(0.22)))
Discount Rate = 8.39% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -100.0 | Cagr: -2.36%
[DCF Debug] Terminal Value 77.94% ; FCFE base≈386.7m ; Y1≈410.8m ; Y5≈491.7m
Fair Price DCF = 104.8 (DCF Value 8.06b / Shares Outstanding 76.9m; 5y FCF grow 6.88% → 3.0% )
EPS Correlation: 92.04 | EPS CAGR: 13.22% | SUE: 0.0 | # QB: 0
Revenue Correlation: 98.97 | Revenue CAGR: 11.30% | SUE: 0.08 | # QB: 0

Additional Sources for NMIH Stock

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