(NMIH) NMI Holdings - Ratings and Ratios
Primary Mortgage Insurance, Loan Review
EPS (Earnings per Share)
Revenue
Dividends
Currently no dividends paid| Risk via 5d forecast | |
|---|---|
| Volatility | 23.4% |
| Value at Risk 5%th | 38.5% |
| Relative Tail Risk | -0.14% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.42 |
| Alpha | -0.70 |
| CAGR/Max DD | 1.18 |
| Character TTM | |
|---|---|
| Hurst Exponent | 0.524 |
| Beta | 0.623 |
| Beta Downside | 0.727 |
| Drawdowns 3y | |
|---|---|
| Max DD | 21.42% |
| Mean DD | 6.58% |
| Median DD | 5.75% |
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.
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 |
| (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 |
| Total Rating: 4.02 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 85.15
| 1. Piotroski 5.50pt |
| 2. FCF Yield 12.33% |
| 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 99.13% |
| 9. EPS Trend -1.05% |
What is the price of NMIH shares?
Over the past week, the price has changed by -0.99%, over one month by +6.96%, over three months by +6.51% and over the past year by +11.89%.
Is NMIH a buy, sell or hold?
- 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 | 44.7 | 8.5% |
| Analysts Target Price | 44.7 | 8.5% |
| ValueRay Target Price | 48.5 | 17.6% |
NMIH Fundamental Data Overview December 27, 2025
P/E Trailing = 8.6848
P/E Forward = 8.15
P/S = 4.662
P/B = 1.2715
P/EG = 1.66
Beta = 0.667
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 = 3.14b USD (3.23b + Debt 416.5m - CCE 505.8m)
Interest Coverage Ratio = 18.21 (Ebit TTM 518.0m / Interest Expense TTM 28.4m)
FCF Yield = 12.33% (FCF TTM 386.8m / Enterprise Value 3.14b)
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 = 0.84 (Enterprise Value 3.14b / 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(3.23b)/V(3.64b) * Re(8.31%) + D(416.5m)/V(3.64b) * Rd(1.71%) * (1-Tc(0.22)))
Discount Rate = 8.31% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -100.0 | Cagr: -2.36%
[DCF Debug] Terminal Value 78.22% ; FCFE base≈386.7m ; Y1≈410.8m ; Y5≈491.7m
Fair Price DCF = 106.4 (DCF Value 8.18b / Shares Outstanding 76.9m; 5y FCF grow 6.88% → 3.0% )
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=+0.002 | Revisions Net=+1 | Analysts=5
EPS next Year (2026-12-31): EPS=5.10 | Chg30d=+0.026 | Revisions Net=+0 | Growth EPS=+4.0% | Growth Revenue=+5.4%
Additional Sources for NMIH Stock
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle