NMI Holdings, Inc.

NMIH

NMI Holdings, Inc.

NMIH

Insider Sentiment (TTM):

Last Purchase:-Last Sale:2026-05-19Shares Purchased (TTM):0Shares Sold (TTM):251,109

Institutional Sentiment:

As of:2026-03-31Institutional Shares Owned:69,444,358Shares Outstanding:76,175,000Institutional Ownership Pct.:91.16%

Earnings Market Reaction:

Filing Date:2026-05-01Price on Filing Date:N/APrevious Close:N/A% Change:N/A

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Financial Statements

10‑Q10‑K

Values in Millions ($)	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30
Available For Sale Securities Debt Securities	3,174	3,137	3,016	2,929	2,809	2,724	2,708	2,521	2,394	2,371	2,198	2,234
Cash And Cash Equivalents At Carrying Value	71	44	130	84	74	54	133	63	140	97	176	73
Premiums Receivable At Carrying Value	87	86	86	84	84	83	78	76	75	76	73	72
Accrued Investment Income Receivable	30	27	26	24	24	22	22	21	20	20	18	17
Deferred Policy Acquisition Costs	64	64	64	64	64	64	64	63	63	63	62	61
Property Plant And Equipment Net	21	22	23	24	25	26	27	29	30	30	32	32
Intangible Assets Net Including Goodwill	4	4	4	4	4	4	4	4	4	4	4	4
Reinsurance Recoverables Gross	40	39	35	33	31	32	29	27	28	28	26	24
Other Assets	19	18	22	23	19	19	19	62	18	17	18	18
Assets	3,910	3,841	3,727	3,591	3,456	3,350	3,320	3,102	3,006	2,941	2,762	2,690
Liabilities
Secured Debt	418	417	417	416	416	415	415	414	398	398	397	397
Unearned Premiums	44	47	50	54	59	65	72	78	86	92	98	105
Accounts Payable And Accrued Liabilities Current A…	105	102	93	87	79	103	111	78	82	86	89	73
Liability For Claims And Claims Adjustment Expense	211	196	180	163	152	152	136	125	127	124	116	110
Deferred Income Tax Liabilities Net	492	479	463	441	419	386	381	348	323	302	257	242
Funds Held Under Reinsurance Agreements Liability	-	-	-	-	-	-	-	-	-	1	2	2
Other Liabilities	8	9	9	9	10	11	11	12	12	13	12	12
Liabilities	1,277	1,249	1,212	1,171	1,135	1,133	1,125	1,056	1,028	1,015	971	941
Stockholders Equity
Common Stock Value Outstanding	1	1	1	1	1	1	1	1	1	1	1	1
Additional Paid In Capital	1,008	1,017	1,011	1,006	1,002	1,005	998	993	989	991	981	977
Treasury Stock Common Value	-379	-352	-321	-296	-273	-247	-218	-201	-174	-149	-117	-98
Accumulated Other Comprehensive Income Loss Net Of…	-68	-46	-54	-73	-94	-125	-82	-151	-150	-140	-214	-187
Retained Earnings Accumulated Deficit	2,072	1,972	1,878	1,782	1,686	1,583	1,497	1,404	1,312	1,223	1,140	1,056
Stockholders Equity	2,632	2,592	2,515	2,420	2,322	2,217	2,195	2,046	1,978	1,926	1,791	1,749
Liabilities And Stockholders Equity	3,910	3,841	3,727	3,591	3,456	3,350	3,320	3,102	3,006	2,941	2,762	2,690
Available For Sale Debt Securities Amortized Cost …	3,255	3,190	3,078	3,016	2,923	2,876	2,807	2,707	2,578	2,543	2,463	2,466
Restricted Cash	-	0	0	0	-	0	0	1	1	1	2	2
Common Stock Par Or Stated Value Per Share	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01
Common Stock Shares Issued	89	88	88	88	88	88	88	88	88	87	87	87
Shares Outstanding	76	76	77	78	78	79	79	80	81	81	82	82
Common Stock Shares Authorized	250	250	250	250	250	250	250	250	250	250	250	250
Treasury Stock Common Shares	13	12	11	11	10	9	9	8	7	6	5	5

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10‑Q10‑K

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Earnings Market Reaction

10‑Q10‑K

Fiscal Year	Q1 1 Month	Q1 2 Month	Q1 3 Month	Q2 1 Month	Q2 2 Month	Q2 3 Month	Q3 1 Month	Q3 2 Month	Q3 3 Month	Q4 1 Month	Q4 2 Month	Q4 3 Month
2026	0.51%	0.73%	15.59%	-	-	-	-	-	-	-	-	-
2025	4.95%	12.94%	5.09%	7.96%	5.59%	-4.28%	3.58%	12.44%	2.47%	-6.50%	-8.33%	-9.13%
2024	3.32%	4.68%	18.42%	1.14%	3.79%	2.72%	7.36%	-1.42%	2.15%	-0.23%	-4.73%	5.94%
2023	9.40%	7.67%	16.89%	-0.25%	-0.25%	-5.53%	-1.54%	7.22%	7.51%	-1.71%	4.20%	9.17%
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Performance and Valuation Metrics

Metrics	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30
Leverage & Debt
Interest Coverage TTM	18.32	18.55	18.21	18.08	14.35	13.56	13.09	12.47	14.38	13.81	13.50	13.24
Per Share Metrics
Diluted EPS TTM	4.98	4.92	4.83	4.77	4.68	4.43	4.41	4.29	4.10	3.84	3.72	3.62
Free Cash Flow Per Share TTM	5.62	5.31	5.00	4.97	4.81	4.84	4.79	4.64	4.39	4.04	4.06	3.88
Dividend Per Share TTM	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Margin Metrics
Gross Profit Margin TTM	89.70%	91.84%	92.24%	93.31%	95.16%	94.49%	95.80%	96.04%	94.62%	94.44%	94.26%	94.08%
Operating Profit Margin TTM	68.84%	70.75%	70.72%	71.39%	71.89%	71.19%	71.99%	72.13%	72.03%	71.28%	71.75%	72.46%
Net Profit Margin TTM	53.82%	55.05%	55.02%	55.57%	55.93%	55.32%	56.20%	56.40%	56.26%	55.63%	55.58%	56.07%
Growth Metrics
Net Revenue Growth (1Y)	7.29%	8.52%	8.86%	9.99%	11.61%	12.43%	13.40%	13.77%	12.35%	10.64%	8.81%	6.76%
Net Income Growth (1Y)	3.23%	8.00%	6.58%	8.38%	10.96%	11.80%	14.67%	14.44%	12.35%	9.97%	11.11%	15.42%
EPS Growth (1Y)	6.26%	11.09%	9.53%	11.34%	14.25%	15.38%	18.34%	18.50%	16.35%	13.33%	14.28%	19.28%
Valuation Metrics
P/E TTM	7.41	8.14	7.79	8.71	7.57	8.15	9.17	7.83	7.75	7.59	7.14	7.03
P/B TTM	1.09	1.22	1.18	1.36	1.22	1.32	1.49	1.33	1.32	1.27	1.24	1.22
P/S TTM	3.99	4.48	4.29	4.84	4.23	4.51	5.15	4.41	4.36	4.22	3.97	3.94
Market Cap	2.86B	3.17B	2.97B	3.29B	2.83B	2.94B	3.28B	2.73B	2.61B	2.45B	2.22B	2.14B
Enterprise Value	2.79B	3.12B	2.84B	3.21B	2.75B	2.88B	3.14B	2.66B	2.47B	2.35B	2.05B	2.07B
Calculated Values
Free Cash Flow TTM	428.06M	412.52M	386.85M	387.52M	376.76M	386.70M	380.92M	371.46M	354.38M	333.31M	333.64M	321.49M
Net Debt	-70.68M	-43.94M	-130.44M	-84.01M	-74.21M	-54.31M	-133.32M	-62.63M	-139.73M	-96.69M	-176.46M	-73.32M
Per-Share and Margin
EPS TTM
Adjusted EPS TTM
Cash Flow Per Share TTM
Pretax Margin TTM
Stock Comp to Revenue TTM
Turnover Ratios and Averages
Average Assets
Average Equity
Average Inventory
Average Receivables
Average Accounts Payables
Inventory Turnover TTM
Payables Turnover TTM
Days Inventory Outstanding TTM
Days Payables Outstanding TTM
Cash Conversion Cycle TTM
Working Capital to Revenue
Deferred Revenue to Revenue
Growth Rates
Total Assets Growth (1Y)
Total Assets Growth (3Y)
Total Assets Growth (5Y)
Dividends Paid Growth (1Y)
Dividends Paid Growth (3Y)
Dividends Paid Growth (5Y)
EPS Growth (3Y)
EPS Growth (5Y)
Net Income Growth (3Y)
Net Income Growth (5Y)
Net Profit Margin Growth (1Y)
Net Profit Margin Growth (3Y)
Net Profit Margin Growth (5Y)
Net Revenue Growth (3Y)
Net Revenue Growth (5Y)
Deferred Revenue Growth (1Y)
Retained Earnings Growth (1Y)
Credit, Liquidity, Returns, Payout
Cash Ratio
Net Working Capital
Debt to EBITDA TTM
Net Debt to EBITDA TTM
Net Debt to Equity
Altman A
Altman B
Altman C
Altman D
Altman E
Altman Z-Score
ROA TTM
ROE TTM
NOPAT TTM
ROIC TTM
Effective Tax Rate TTM
Payout Ratio TTM
Dilution Ratio
Retained Earnings to Equity
Treasury Stock to Equity
Treasury Stock Change (1Y)
Accrued to Current Liabilities
Valuation Ratios
P/CF TTM
Dividend Yield TTM
Free Cash Flow Yield TTM
EV EBITDA TTM
EV EBIT TTM
Stock Compensation TTM
Adjusted Net Income TTM
Billings TTM
Total Debt
Invested Capital

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Insider Transactions

2026-05-19Sale

Owner: Montgomery, Michael Curry

Title: -

Shares: 1,554

Price/Share: $37.90

Value: $58,896.60

Shares Owned: 69,026

Relationship: Director

Ownership: Direct

2026-03-24Sale

Owner: Shuster, Bradley M

Title: Executive Chairman

Shares: 18,953

Price/Share: $37.35

Value: $707,894.55

Shares Owned: 415,411

Relationship: Director,Officer

Ownership: Direct

2026-03-19Sale

Owner: Shuster, Bradley M

Title: Executive Chairman

Shares: 18,996

Price/Share: $37.05

Value: $703,801.80

Shares Owned: 415,411

Relationship: Director,Officer

Ownership: Direct

2026-03-12Sale

Owner: Shuster, Bradley M

Title: Executive Chairman

Shares: 18,976

Price/Share: $36.58

Value: $694,142.08

Shares Owned: 415,411

Relationship: Director,Officer

Ownership: Direct

2026-03-05Sale

Owner: Shuster, Bradley M

Title: Executive Chairman

Shares: 19,430

Price/Share: $38.91

Value: $756,021.30

Shares Owned: 415,411

Relationship: Director,Officer

Ownership: Direct

Filed Date	Owner	Relationship	Title	Ownership	Purchase/Sale	No. Shares	Price Per Share	Value	Shares Owned	Document Type
2026-05-19	Montgomery, Michael Curry	Director	-	Direct	Sale	1,554	37.90	$58,896.60	69,026	4
2026-03-24	Shuster, Bradley M	Director,Officer	Executive Chairman	Direct	Sale	18,953	37.35	$707,894.55	415,411	4
2026-03-19	Shuster, Bradley M	Director,Officer	Executive Chairman	Direct	Sale	18,996	37.05	$703,801.80	415,411	4
2026-03-12	Shuster, Bradley M	Director,Officer	Executive Chairman	Direct	Sale	18,976	36.58	$694,142.08	415,411	4
2026-03-05	Shuster, Bradley M	Director,Officer	Executive Chairman	Direct	Sale	19,430	38.91	$756,021.30	415,411	4
2026-02-26	Shuster, Bradley M	Director,Officer	Executive Chairman	Direct	Sale	19,557	39.85	$779,346.45	415,411	4
2026-02-18	Shuster, Bradley M	Director,Officer	Executive Chairman	Direct	Sale	55,000	39.63	$2,179,650.00	415,411	4
2026-02-17	Fitzgerald, Norman Peter	Officer	EVP, Chief Sales Officer	Direct	Sale	22,500	39.94	$898,650.00	32,445	4
2026-02-17	Yousaf, Mohammad Nawaz	Officer	EVP, Chief of Ops and Tech	Direct	Sale	16,000	39.89	$638,240.00	38,733	4
2025-11-19	Embler, Michael J	Director	-	Direct	Sale	20,000	36.90	$738,000.00	46,046	4
2025-09-16	Realmuto, Nicholas Daniel	Officer	VP, Controller	Direct	Sale	291	38.52	$11,209.32	7,316	4
2025-09-15	Scheid, Steven	Director	-	Indirect	Sale	19,926	39.31	$783,291.06	74,794	4/A
2025-09-15	Scheid, Steven	Director	-	Indirect	Sale	19,926	39.31	$783,291.06	78,960	4
2025-06-06	Shuster, Bradley M	Director,Officer	Executive Chairman	Direct	Sale	21,545	39.56	$852,320.20	409,792	4
2025-05-30	Leatherberry, William J	Officer	Chief Admin. Officer & GC	Direct	Sale	18,121	39.67	$718,860.07	134,786	4
2025-05-13	Montgomery, Michael Curry	Director	-	Direct	Sale	1,875	38.05	$71,343.75	66,068	4
2025-05-01	Pollitzer, Adam	Director,Officer	Chief Executive Officer	Direct	Sale	57,166	36.54	$2,088,845.64	329,465	4
2025-05-01	Smith, Robert Owen	Officer	EVP, Chief Risk Officer	Direct	Sale	20,000	36.58	$731,600.00	84,566	4
2025-05-01	Leatherberry, William J	Officer	Chief Admin. Officer & GC	Direct	Sale	10,889	36.64	$398,972.96	152,907	4
2025-03-18	Realmuto, Nicholas Daniel	Officer	VP, Controller	Direct	Sale	2,755	35.33	$97,334.15	7,908	4
2025-02-24	Fitzgerald, Norman Peter	Officer	EVP, Chief Sales Officer	Direct	Sale	20,000	35.88	$717,600.00	37,470	4
2025-02-24	Yousaf, Mohammad Nawaz	Officer	EVP, Chief of Ops and Tech	Direct	Sale	15,517	35.66	$553,336.22	33,701	4
2024-09-18	Realmuto, Nicholas Daniel	Officer	VP, Controller	Direct	Sale	291	42.00	$12,222.00	9,536	4
2024-08-27	Leatherberry, William J	Officer	Chief Admin. Officer & GC	Direct	Sale	3,000	40.07	$120,210.00	153,689	4
2024-07-31	Leatherberry, William J	Officer	Chief Admin. Officer & GC	Direct	Sale	24,725	39.67	$980,840.75	158,689	4
2024-07-31	Embler, Michael J	Director	-	Direct	Sale	26,008	39.35	$1,023,414.80	61,607	4
2024-05-14	Montgomery, Michael Curry	Director	-	Direct	Sale	2,340	-	-	63,504	4
2024-03-21	Smith, Robert Owen	Officer	EVP, Chief Risk Officer	Direct	Sale	3,000	31.19	$93,570.00	82,612	4
2024-03-19	Yousaf, Mohammad Nawaz	Officer	EVP, Operations & Info. Tech.	Direct	Sale	1,117	29.95	$33,454.15	32,909	4
2024-03-19	Realmuto, Nicholas Daniel	Officer	VP, Controller	Direct	Sale	1,803	30.08	$54,234.24	10,128	4
2024-03-15	Fitzgerald, Norman Peter	Officer	EVP, Chief Sales Officer	Direct	Sale	12,000	30.00	$360,000.00	42,733	4
2024-03-12	Realmuto, Nicholas Daniel	Officer	VP, Controller	Direct	Sale	1,249	30.23	$37,757.27	10,455	4
2024-03-11	Jones, James G	Director	-	Direct	Sale	48,294	30.46	$1,471,035.24	5,847	4
2024-03-04	Jones, James G	Director	-	Direct	Sale	3,400	30.10	$102,340.00	54,241	4
2024-02-29	Jones, James G	Director	-	Direct	Sale	54,900	30.16	$1,655,784.00	57,641	4
2024-02-21	Yousaf, Mohammad Nawaz	Officer	EVP, Operations & Info. Tech.	Direct	Sale	9,000	29.51	$265,590.00	35,476	4
2024-02-12	Shuster, Bradley M	Director,Officer	Executive Chairman	Direct	Sale	12,836	30.53	$391,883.08	427,271	4
2024-02-09	Shuster, Bradley M	Director,Officer	Executive Chairman	Direct	Sale	6,559	29.81	$195,523.79	453,298	4
2023-12-26	Shuster, Bradley M	Director,Officer	Executive Chairman	Direct	Sale	171,418	30.11	$5,161,395.98	426,963	4
2023-12-22	Jones, James G	Director	-	Direct	Sale	5,287	30.15	$159,403.05	112,541	4
2023-12-22	Shuster, Bradley M	Director,Officer	Executive Chairman	Direct	Sale	70,804	30.08	$2,129,784.32	426,963	4
2023-11-03	Smith, Robert Owen	Officer	EVP, Chief Risk Officer	Direct	Sale	8,500	28.67	$243,695.00	66,346	4
2023-08-07	Jones, James G	Director	-	Direct	Sale	700	30.04	$21,028.00	117,828	4
2023-08-03	Jones, James G	Director	-	Direct	Sale	3,952	29.11	$115,042.72	118,528	4
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Institutional Ownership

No data available for chart

2026-03-31

91.16%

Inst. Shares: 69,444,358

Shares Outstanding: 76,175,000

2025-12-31

89.51%

Inst. Shares: 69,479,377

Shares Outstanding: 77,626,000

2025-09-30

90.86%

Inst. Shares: 70,335,208

Shares Outstanding: 77,410,000

2025-06-30

88.75%

Inst. Shares: 69,212,775

Shares Outstanding: 77,987,000

2025-03-31

90.12%

Inst. Shares: 70,661,178

Shares Outstanding: 78,407,000

Date	Institutional Shares Owned	Shares Outstanding	Institutional Ownership %
2026-03-31	69,444,358	76,175,000	91.16%
2025-12-31	69,479,377	77,626,000	89.51%
2025-09-30	70,335,208	77,410,000	90.86%
2025-06-30	69,212,775	77,987,000	88.75%
2025-03-31	70,661,178	78,407,000	90.12%
2024-12-31	70,160,567	79,844,000	87.87%
2024-09-30	71,017,628	79,549,000	89.28%
2024-06-30	72,468,176	80,117,000	90.45%
2024-03-31	71,874,975	80,726,000	89.04%
2023-12-31	71,767,534	82,407,000	87.09%
2023-09-30	70,904,166	82,096,000	86.37%
2023-06-30	72,499,119	82,958,000	87.39%
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NMI Holdings, Inc. (NMIH) — SEC Financial Statements & Analysis

NMI Holdings, Inc. (NMIH) is a surety insurance company, incorporated in CA. NMI Holdings, Inc. trades on Nasdaq as: NMIH. Based on its latest SEC filing (Form 10-Q, period ending 2026-03-31), NMI Holdings, Inc. reported a 7.29% year-over-year revenue growth, a Gross Profit Margin of 89.70% (TTM), a Price-to-Sales (P/S) ratio of 3.99x (TTM), a Price-to-Book (P/B) ratio of 1.09 (TTM), at a market cap of $2.86B. Figures below are sourced from SEC EDGAR, as-filed.

Net Revenue TTM Growth 1Y: 7.29%
Gross Profit Margin TTM: 89.70%
P/S TTM: 3.99x
P/B TTM: 1.09
Market Cap: $2.86B

Data as of 2026-03-31 · Source: SEC EDGAR

Frequently Asked Questions

What industry is NMI Holdings, Inc. in?

NMI Holdings, Inc. (NMIH) operates in the Surety Insurance industry.

What is NMIH's market cap?

NMI Holdings, Inc. (NMIH) has a market capitalization of $2.86B as of 2026-03-31.

What is NMIH's P/E ratio?

NMI Holdings, Inc. (NMIH)'s trailing twelve month P/E ratio is 7.41x as of 2026-03-31.

What exchange does NMIH trade on?

NMI Holdings, Inc. (NMIH) trades on the Nasdaq.

Where is NMI Holdings, Inc. incorporated?

NMI Holdings, Inc. is incorporated in CA.

NMI Holdings, Inc. (NMIH) — SEC Financial Statements & Analysis

Frequently Asked Questions

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