(NMIH) NMI Holdings - Overview

Sector: Financial Services | Industry: Insurance - Specialty | Exchange: NASDAQ (USA) | Market Cap: 2.859m USD | Total Return: 13.6% in 12m

Mortgage Insurance, Loan Review
Total Rating 45
Safety 75
Buy Signal 0.34
Insurance - Specialty
Industry Rotation: -3.4
Market Cap: 2.86B
Avg Turnover: 15.0M USD
ATR: 2.04%
Peers RS (IBD): 59.1
Risk 5d forecast
Volatility23.9%
Rel. Tail Risk1.45%
Reward TTM
Sharpe Ratio0.68
Alpha-4.85
Character TTM
Beta0.640
Beta Downside0.992
Drawdowns 3y
Max DD21.42%
CAGR/Max DD0.91
EPS (Earnings per Share) EPS (Earnings per Share) of NMIH over the last years for every Quarter: "2021-03": 0.62, "2021-06": 0.67, "2021-09": 0.71, "2021-12": 0.73, "2022-03": 0.77, "2022-06": 0.86, "2022-09": 0.9, "2022-12": 0.86, "2023-03": 0.88, "2023-06": 0.95, "2023-09": 1, "2023-12": 1.01, "2024-03": 1.08, "2024-06": 1.2, "2024-09": 1.15, "2024-12": 1.07, "2025-03": 1.28, "2025-06": 1.22, "2025-09": 1.21, "2025-12": 1.2, "2026-03": 0,
EPS CAGR: -44.78%
EPS Trend: -5.7%
Last SUE: -4.00
Qual. Beats: 0
Revenue Revenue of NMIH over the last years for every Quarter: 2021-03: 114.989, 2021-06: 121.423, 2021-09: 124.041, 2021-12: 125.184, 2022-03: 127.534, 2022-06: 133.24, 2022-09: 130.577, 2022-12: 133.107, 2023-03: 136.779, 2023-06: 142.685, 2023-09: 148.159, 2023-12: 151.38, 2024-03: 156.253, 2024-06: 162.122, 2024-09: 166.092, 2024-12: 166.504, 2025-03: 173.246, 2025-06: 173.779, 2025-09: 178.679, 2025-12: 180.473, 2026-03: null,
Rev. CAGR: 9.70%
Rev. Trend: 99.0%
Last SUE: -0.04
Qual. Beats: 0

Warnings

No concerns identified

Tailwinds

No distinct edge detected

Description: NMIH NMI Holdings

NMI Holdings, Inc. (NMIH) operates in the United States, providing private mortgage guaranty insurance. This sector mitigates risk for lenders by protecting against borrower default.

The company offers primary mortgage insurance and outsourced loan review services. Mortgage insurers typically generate revenue through premiums paid by borrowers.

NMIH serves a diverse client base, including national and regional mortgage banks, credit unions, and other non-bank lenders. Understanding market share among these client types provides further insight.

For a deeper dive into NMIHs financial performance and competitive landscape, ValueRay offers comprehensive analytics.

Headlines to Watch Out For
  • New insurance written volume impacts premium revenue
  • Interest rate hikes reduce mortgage originations
  • Delinquency rates increase claims payouts
  • Regulatory changes affect capital requirements
  • Housing market stability influences demand
Piotroski VR‑10 (Strict) 7.0
Net Income: 388.9m TTM > 0 and > 6% of Revenue
FCF/TA: 0.11 > 0.02 and ΔFCF/TA -0.97 > 1.0
NWC/Revenue: -55.99% < 20% (prev 5.93%; Δ -61.92% < -1%)
CFO/TA 0.11 > 3% & CFO 419.3m > Net Income 388.9m
Net Debt (-31.3m) to EBITDA (536.8m): -0.06 < 3
Current Ratio: 0.25 > 1.5 & < 3
Outstanding Shares: last quarter (78.2m) vs 12m ago -3.00% < -2%
Gross Margin: 91.78% > 18% (prev 0.95%; Δ 9.08k% > 0.5%)
Asset Turnover: 19.64% > 50% (prev 19.43%; Δ 0.21% > 0%)
Interest Coverage Ratio: 14.05 > 6 (EBITDA TTM 536.8m / Interest Expense TTM 28.5m)
Altman Z'' 3.37
A: -0.10 (Total Current Assets 130.2m - Total Current Liabilities 525.5m) / Total Assets 3.84b
B: 0.51 (Retained Earnings 1.97b / Total Assets 3.84b)
C: 0.11 (EBIT TTM 400.0m / Avg Total Assets 3.60b)
D: 1.54 (Book Value of Equity 1.93b / Total Liabilities 1.25b)
Altman-Z'' Score: 3.37 = A
Beneish M -3.20
DSRI: 0.69 (Receivables 86.3m/115.1m, Revenue 706.2m/651.0m)
GMI: 1.04 (GM 91.78% / 95.04%)
AQI: 0.99 (AQ_t 0.96 / AQ_t-1 0.97)
SGI: 1.08 (Revenue 706.2m / 651.0m)
TATA: -0.01 (NI 388.9m - CFO 419.3m) / TA 3.84b)
Beneish M-Score: -3.20 (Cap -4..+1) = AA
What is the price of NMIH shares? As of April 10, 2026, the stock is trading at USD 39.33 with a total of 323,290 shares traded.
Over the past week, the price has changed by +4.77%, over one month by +2.02%, over three months by -2.84% and over the past year by +13.57%.
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.
  • StrongBuy: 3
  • Buy: 2
  • Hold: 2
  • Sell: 0
  • StrongSell: 0
What are the forecasts/targets for the NMIH price?
Analysts Target Price 46.3 17.7%
NMI Holdings (NMIH) - Fundamental Data Overview as of 07 April 2026
P/E Trailing = 7.6301
P/E Forward = 6.9396
P/S = 4.0469
P/B = 1.103
P/EG = 1.66
Revenue TTM = 706.2m USD
EBIT TTM = 400.0m USD
EBITDA TTM = 536.8m USD
Long Term Debt = 417.0m USD (from longTermDebt, last quarter)
Short Term Debt = 2.21m USD (from shortTermDebt, last fiscal year)
Debt = 417.0m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -31.3m USD (recalculated: Debt 417.0m - CCE 448.4m)
Enterprise Value = 2.83b USD (2.86b + Debt 417.0m - CCE 448.4m)
Interest Coverage Ratio = 14.05 (Ebit TTM 400.0m / Interest Expense TTM 28.5m)
EV/FCF = 6.85x (Enterprise Value 2.83b / FCF TTM 412.5m)
FCF Yield = 14.59% (FCF TTM 412.5m / Enterprise Value 2.83b)
FCF Margin = 58.42% (FCF TTM 412.5m / Revenue TTM 706.2m)
Net Margin = 55.07% (Net Income TTM 388.9m / Revenue TTM 706.2m)
Gross Margin = 91.78% ((Revenue TTM 706.2m - Cost of Revenue TTM 58.0m) / Revenue TTM)
Gross Margin QoQ = 88.27% (prev 89.53%)
Tobins Q-Ratio = 0.74 (Enterprise Value 2.83b / Total Assets 3.84b)
Interest Expense / Debt = 1.71% (Interest Expense 7.13m / Debt 417.0m)
Taxrate = 22.23% (26.9m / 121.1m)
NOPAT = 311.1m (EBIT 400.0m * (1 - 22.23%))
Current Ratio = 0.25 (Total Current Assets 130.2m / Total Current Liabilities 525.5m)
Debt / Equity = 0.16 (Debt 417.0m / totalStockholderEquity, last quarter 2.59b)
Debt / EBITDA = -0.06 (Net Debt -31.3m / EBITDA 536.8m)
Debt / FCF = -0.08 (Net Debt -31.3m / FCF TTM 412.5m)
Total Stockholder Equity = 2.46b (last 4 quarters mean from totalStockholderEquity)
RoA = 10.82% (Net Income 388.9m / Total Assets 3.84b)
RoE = 15.80% (Net Income TTM 388.9m / Total Stockholder Equity 2.46b)
RoCE = 13.89% (EBIT 400.0m / Capital Employed (Equity 2.46b + L.T.Debt 417.0m))
RoIC = 10.81% (NOPAT 311.1m / Invested Capital 2.88b)
WACC = 7.35% (E(2.86b)/V(3.28b) * Re(8.23%) + D(417.0m)/V(3.28b) * Rd(1.71%) * (1-Tc(0.22)))
Discount Rate = 8.23% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -100.0 | Cagr: -2.74%
[DCF] Terminal Value 81.70% ; FCFF base≈404.4m ; Y1≈429.6m ; Y5≈514.3m
[DCF] Fair Price = 137.6 (EV 10.45b - Net Debt -31.3m = Equity 10.48b / Shares 76.2m; r=7.35% [WACC]; 5y FCF grow 6.88% → 3.0% )
EPS Correlation: -5.74 | EPS CAGR: -44.78% | SUE: -4.0 | # QB: 0
Revenue Correlation: 99.00 | Revenue CAGR: 9.70% | SUE: -0.04 | # QB: 0
EPS next Quarter (2026-06-30): EPS=1.29 | Chg7d=-0.003 | Chg30d=+0.013 | Revisions Net=+0 | Analysts=6
EPS current Year (2026-12-31): EPS=5.14 | Chg7d=+0.001 | Chg30d=+0.031 | Revisions Net=+1 | Growth EPS=+4.4% | Growth Revenue=+5.5%
EPS next Year (2027-12-31): EPS=5.52 | Chg7d=+0.000 | Chg30d=-0.018 | Revisions Net=+1 | Growth EPS=+7.2% | Growth Revenue=+4.2%
[Analyst] Revisions Ratio: +1.00 (1 Up / 0 Down within 30d for Current Year)
[Growth] Implied Growth Rate = -4.9% (Discount Rate 8.2% - Earnings Yield 13.1%)
[Growth] Growth Spread = +11.3% (Analyst 6.4% - Implied -4.9%)
External Resources
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