(NMIH) NMI Holdings - Overview
Sector: Financial Services | Industry: Insurance - Specialty | Exchange: NASDAQ (USA) | Market Cap: 2.869m USD | Total Return: -6.8% in 12m
Avg Turnover: 19.6M
EPS Trend: 97.1%
Qual. Beats: 0
Rev. Trend: 99.2%
Qual. Beats: 0
Warnings
Volatile Below Avwap Earnings
Tailwinds
No distinct edge detected
NMI Holdings, Inc. (NMIH) is a California-based provider of private mortgage guaranty insurance and outsourced loan review services within the United States. The company operates primarily by offering credit enhancement to a diverse client base, including national mortgage banks, credit unions, and community lenders.
The private mortgage insurance (PMI) sector serves a critical role in the housing market by protecting lenders against losses on high loan-to-value mortgages. This business model allows homebuyers to secure financing with down payments of less than 20%, as the insurance mitigates the default risk for the underlying lien holder.
As you evaluate the companys position in the residential finance industry, ValueRay offers additional insights to deepen your analysis. NMI Holdings remains a key player in the specialized field of private mortgage credit risk management.
- Persistently low mortgage delinquency rates minimize insurance claims and loss ratios
- Mortgage insurance premium growth hinges on high-LTV residential lending volume
- Reinsurance credit risk transfer strategies stabilize capital and protect earnings volatility
- Elevated interest rates reduce mortgage refinancing activity and boost insurance persistence
- Expanding market share among credit unions and non-bank lenders drives revenue
| Net Income: 385.7m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.00 > 0.02 and ΔFCF/TA -11.05 > 1.0 |
| NWC/Revenue: -33.9k% < 20% (prev 50.33%; Δ -33.9k% < -1%) |
| CFO/TA 0.00 > 3% & CFO 434.2m > Net Income 385.7m |
| Current Ratio: 0.39 > 1.5 & < 3 |
| Outstanding Shares: last quarter (77.4m) vs 12m ago -3.03% < -2% |
| Gross Margin: 89.66% > 18% (prev 0.95%; Δ 8.87k% > 0.5%) |
| Asset Turnover: 0.04% > 50% (prev 19.33%; Δ -19.29% > 0%) |
| Interest Coverage Ratio: 17.32 > 6 (EBITDA TTM 504.2m / Interest Expense TTM 28.5m) |
| A: -0.06 (Total Current Assets 158b - Total Current Liabilities 400b) / Total Assets 3910b |
| B: 0.53 (Retained Earnings 2072b / Total Assets 3910b) |
| C: 0.00 (EBIT TTM 493.4m / Avg Total Assets 1957b) |
| D: 1.57 (Book Value of Equity 2004b / Total Liabilities 1277b) |
| Altman-Z'' = 2.97 = A |
| DSRI: 581.9 (Receivables 86.9b/139.2m, Revenue 716.4m/668.0m) |
| GMI: 1.06 (GM 89.66% / 95.06%) |
| AQI: 1.27 (AQ_t 0.96 / AQ_t-1 0.76) |
| SGI: 1.07 (Revenue 716.4m / 668.0m) |
| TATA: -0.00 (NI 385.7m - CFO 434.2m) / TA 3910b) |
| Beneish M = 475.3 (Cap -4..+1) = D |
As of May 29, 2026, the stock is trading at USD 36.28 with a total of 442,219 shares traded.
Over the past week, the price has changed by -5.15%,
over one month by -12.54%,
over three months by -7.71% and
over the past year by -6.76%.
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 | 46.2 | 27.3% |
P/E Trailing = 7.6748
P/E Forward = 6.8306
P/S = 4.0028
P/B = 1.0898
P/EG = 1.66
Revenue TTM = 716.4m USD
EBIT TTM = 493.4m USD
EBITDA TTM = 504.2m USD
Long Term Debt = 417.5m USD (from longTermDebt, last quarter)
Short Term Debt = 2.21m USD (from shortTermDebt, last fiscal year)
Debt = 417.5m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -70.3b USD (calculated: Debt 417.5m - CCE 70.7b)
Enterprise Value = 2.87b USD (floored to Market Cap, CCE > MCap+Debt)
Interest Coverage Ratio = 17.32 (Ebit TTM 493.4m / Interest Expense TTM 28.5m)
EV/FCF = 6.70x (Enterprise Value 2.87b / FCF TTM 428.1m)
FCF Yield = 14.92% (FCF TTM 428.1m / Enterprise Value 2.87b)
FCF Margin = 59.75% (FCF TTM 428.1m / Revenue TTM 716.4m)
Net Margin = 53.84% (Net Income TTM 385.7m / Revenue TTM 716.4m)
Gross Margin = 89.66% ((Revenue TTM 716.4m - Cost of Revenue TTM 74.1m) / Revenue TTM)
Gross Margin QoQ = 88.74% (prev 88.27%)
Tobins Q-Ratio = 0.00 (Enterprise Value 2.87b / Total Assets 3910b)
Interest Expense / Debt = 6.82% (Interest Expense 28.5m / Debt 417.5m)
Taxrate = 20.50% (25.6m / 124.9m)
NOPAT = 392.2m (EBIT 493.4m * (1 - 20.50%))
Current Ratio = 0.39 (Total Current Assets 158b / Total Current Liabilities 400b)
Debt / Equity = 0.00 (Debt 417.5m / totalStockholderEquity, last quarter 2632b)
Debt / EBITDA = -139.3 (out of range, set to none) (Net Debt -70.3b / EBITDA 504.2m)
Debt / FCF = -164.1 (out of range, set to none) (Net Debt -70.3b / FCF TTM 428.1m)
Total Stockholder Equity = 660b (last 4 quarters mean from totalStockholderEquity)
RoA = 0.02% (Net Income 385.7m / Total Assets 3910b)
RoE = 0.06% (Net Income TTM 385.7m / Total Stockholder Equity 660b)
RoCE = 0.07% (EBIT 493.4m / Capital Employed (Equity 660b + L.T.Debt 417.5m))
RoIC = 0.01% (NOPAT 392.2m / Invested Capital 3509b)
WACC = 7.44% (E(2.87b)/V(3.29b) * Re(7.73%) + D(417.5m)/V(3.29b) * Rd(6.82%) * (1-Tc(0.20)))
Discount Rate = 7.73% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -100.00 | Cagr: -2.87%
[DCF] Terminal Value 76.88% ; FCFF base≈409.7m ; Y1≈452.1m ; Y5≈578.3m
[DCF] Fair Price = 1.04k (EV 8.83b - Net Debt -70.3b = Equity 79.1b / Shares 76.0m; r=8.35% [WACC [floored]]; 5y FCF grow 11.98% → 2.50% )
EPS Correlation: 97.10 | EPS CAGR: 12.80% | SUE: 0.54 | # QB: 0
Revenue Correlation: 99.21 | Revenue CAGR: 10.69% | SUE: 0.07 | # QB: 0
EPS current Quarter (2026-06-30): EPS=1.29 | Chg30d=-0.38% | Revisions=-33% | Analysts=5
EPS next Quarter (2026-09-30): EPS=1.29 | Chg30d=-1.05% | Revisions=-56% | Analysts=5
EPS current Year (2026-12-31): EPS=5.15 | Chg30d=+0.26% | Revisions=+0% | GrowthEPS=+4.7% | GrowthRev=+5.8%
EPS next Year (2027-12-31): EPS=5.43 | Chg30d=-1.58% | Revisions=-33% | GrowthEPS=+5.0% | GrowthRev=+5.0%
[Analyst] Revisions Ratio: -56%