Annual Income Statements for NMI
This table shows NMI's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.
Quarterly Income Statements for NMI
This table shows NMI's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Net Income / (Loss) Attributable to Common Shareholders |
|
77 |
73 |
74 |
80 |
84 |
83 |
89 |
92 |
93 |
86 |
103 |
Consolidated Net Income / (Loss) |
|
77 |
73 |
74 |
80 |
84 |
83 |
89 |
92 |
93 |
86 |
103 |
Net Income / (Loss) Continuing Operations |
|
77 |
73 |
74 |
80 |
84 |
83 |
89 |
92 |
93 |
86 |
103 |
Total Pre-Tax Income |
|
99 |
95 |
96 |
104 |
107 |
105 |
115 |
119 |
119 |
111 |
131 |
Total Revenue |
|
123 |
157 |
129 |
143 |
148 |
159 |
148 |
162 |
166 |
175 |
173 |
Net Interest Income / (Expense) |
|
-8.04 |
24 |
-8.04 |
0.00 |
0.00 |
8.04 |
-8.04 |
0.00 |
0.00 |
8.04 |
0.00 |
Total Interest Income |
|
0.00 |
- |
0.00 |
0.00 |
0.00 |
- |
0.00 |
0.00 |
0.00 |
- |
0.00 |
Total Interest Expense |
|
8.04 |
-24 |
8.04 |
0.00 |
0.00 |
-8.04 |
8.04 |
0.00 |
0.00 |
-8.04 |
0.00 |
Total Non-Interest Income |
|
131 |
133 |
137 |
143 |
148 |
151 |
156 |
162 |
166 |
167 |
173 |
Other Service Charges |
|
0.30 |
0.18 |
0.16 |
0.18 |
0.22 |
0.19 |
0.16 |
0.27 |
0.29 |
0.23 |
0.17 |
Net Realized & Unrealized Capital Gains on Investments |
|
12 |
13 |
15 |
17 |
18 |
18 |
19 |
21 |
22 |
23 |
24 |
Premiums Earned |
|
118 |
120 |
122 |
126 |
130 |
133 |
137 |
141 |
143 |
144 |
149 |
Total Non-Interest Expense |
|
24 |
62 |
33 |
39 |
41 |
54 |
34 |
43 |
47 |
64 |
42 |
Property & Liability Insurance Claims |
|
-3.39 |
3.45 |
6.70 |
2.87 |
4.81 |
8.23 |
3.69 |
0.28 |
10 |
17 |
4.48 |
Other Operating Expenses |
|
27 |
59 |
26 |
36 |
36 |
46 |
30 |
43 |
36 |
46 |
37 |
Income Tax Expense |
|
22 |
22 |
22 |
24 |
23 |
22 |
26 |
27 |
27 |
25 |
29 |
Basic Earnings per Share |
|
$0.91 |
$0.87 |
$0.89 |
$0.97 |
$1.02 |
$1.03 |
$1.10 |
$1.15 |
$1.17 |
$1.09 |
$1.31 |
Weighted Average Basic Shares Outstanding |
|
84.44M |
84.92M |
83.60M |
82.96M |
82.10M |
82.41M |
80.73M |
80.12M |
79.55M |
79.84M |
78.41M |
Diluted Earnings per Share |
|
$0.90 |
$0.86 |
$0.88 |
$0.95 |
$1.00 |
$1.01 |
$1.08 |
$1.13 |
$1.15 |
$1.07 |
$1.28 |
Weighted Average Diluted Shares Outstanding |
|
85.49M |
86.00M |
84.84M |
84.19M |
83.67M |
83.85M |
82.10M |
81.30M |
81.05M |
81.27M |
79.86M |
Weighted Average Basic & Diluted Shares Outstanding |
|
83.58M |
83.66M |
83.28M |
82.28M |
81.08M |
80.88M |
80.28M |
79.67M |
79.13M |
78.45M |
78.12M |
Annual Cash Flow Statements for NMI
This table details how cash moves in and out of NMI's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.
Metric |
|
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
Net Change in Cash & Equivalents |
|
-46 |
-9.57 |
-29 |
6.10 |
16 |
86 |
-50 |
-32 |
52 |
-42 |
Net Cash From Operating Activities |
|
41 |
72 |
68 |
146 |
208 |
253 |
326 |
313 |
343 |
394 |
Net Cash From Continuing Operating Activities |
|
41 |
72 |
68 |
146 |
208 |
253 |
326 |
313 |
343 |
394 |
Net Income / (Loss) Continuing Operations |
|
-28 |
64 |
22 |
108 |
172 |
172 |
231 |
293 |
322 |
360 |
Consolidated Net Income / (Loss) |
|
-28 |
64 |
22 |
108 |
172 |
172 |
231 |
293 |
322 |
360 |
Depreciation Expense |
|
4.86 |
5.66 |
6.66 |
7.81 |
9.30 |
9.93 |
11 |
12 |
12 |
12 |
Amortization Expense |
|
0.25 |
3.17 |
3.07 |
4.91 |
2.26 |
7.70 |
8.59 |
7.57 |
2.44 |
1.14 |
Non-Cash Adjustments to Reconcile Net Income |
|
5.44 |
-43 |
44 |
14 |
67 |
54 |
81 |
98 |
108 |
107 |
Changes in Operating Assets and Liabilities, net |
|
59 |
43 |
-8.51 |
11 |
-42 |
9.61 |
-6.13 |
-97 |
-101 |
-87 |
Net Cash From Investing Activities |
|
-230 |
-80 |
-93 |
-221 |
-194 |
-630 |
-374 |
-290 |
-200 |
-339 |
Net Cash From Continuing Investing Activities |
|
-230 |
-80 |
-93 |
-221 |
-194 |
-630 |
-374 |
-290 |
-200 |
-339 |
Purchase of Property, Leasehold Improvements and Equipment |
|
-6.14 |
-11 |
-8.51 |
-8.06 |
-9.96 |
-12 |
-12 |
-11 |
-9.37 |
-6.91 |
Purchase of Investment Securities |
|
-365 |
-314 |
-350 |
-614 |
-521 |
-1,108 |
-525 |
-548 |
-655 |
-652 |
Sale and/or Maturity of Investments |
|
141 |
245 |
266 |
402 |
336 |
491 |
163 |
268 |
464 |
319 |
Net Cash From Financing Activities |
|
143 |
-1.72 |
-3.24 |
81 |
2.00 |
463 |
-1.83 |
-56 |
-90 |
-97 |
Net Cash From Continuing Financing Activities |
|
143 |
-1.72 |
-3.24 |
81 |
2.00 |
463 |
-1.83 |
-56 |
-90 |
-97 |
Issuance of Debt |
|
149 |
0.00 |
0.00 |
149 |
0.00 |
400 |
- |
0.00 |
0.00 |
420 |
Issuance of Common Equity |
|
0.42 |
0.53 |
7.10 |
92 |
22 |
229 |
4.20 |
5.44 |
11 |
4.29 |
Repayment of Debt |
|
-4.81 |
-1.50 |
-1.95 |
-151 |
-1.50 |
-157 |
-1.11 |
0.00 |
0.00 |
-413 |
Repurchase of Common Equity |
|
- |
- |
- |
- |
- |
0.00 |
0.00 |
-57 |
-92 |
-98 |
Other Financing Activities, Net |
|
-1.11 |
-0.76 |
-8.40 |
-9.40 |
-18 |
-8.96 |
-4.92 |
-4.70 |
-9.36 |
-10 |
Cash Interest Paid |
|
0.01 |
9.67 |
13 |
12 |
11 |
18 |
30 |
30 |
30 |
14 |
Cash Income Taxes Paid |
|
0.00 |
0.20 |
1.22 |
0.87 |
0.06 |
0.07 |
0.46 |
-0.02 |
0.02 |
20 |
Quarterly Cash Flow Statements for NMI
This table details how cash moves in and out of NMI's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Net Change in Cash & Equivalents |
|
53 |
-81 |
39 |
-9.79 |
103 |
-80 |
43 |
-77 |
71 |
-79 |
20 |
Net Cash From Operating Activities |
|
108 |
32 |
90 |
102 |
121 |
30 |
112 |
118 |
128 |
36 |
101 |
Net Cash From Continuing Operating Activities |
|
108 |
32 |
90 |
102 |
121 |
30 |
112 |
118 |
128 |
36 |
101 |
Net Income / (Loss) Continuing Operations |
|
77 |
73 |
74 |
80 |
84 |
83 |
89 |
92 |
93 |
86 |
103 |
Consolidated Net Income / (Loss) |
|
77 |
73 |
74 |
80 |
84 |
83 |
89 |
92 |
93 |
86 |
103 |
Depreciation Expense |
|
2.93 |
2.89 |
2.80 |
2.84 |
2.87 |
3.03 |
3.00 |
2.99 |
2.98 |
2.97 |
2.89 |
Amortization Expense |
|
2.00 |
1.33 |
1.45 |
1.60 |
-1.64 |
1.04 |
0.95 |
0.89 |
-0.44 |
-0.27 |
-0.18 |
Non-Cash Adjustments to Reconcile Net Income |
|
25 |
26 |
24 |
27 |
26 |
31 |
28 |
37 |
19 |
24 |
29 |
Changes in Operating Assets and Liabilities, net |
|
1.25 |
-72 |
-13 |
-9.39 |
9.90 |
-88 |
-9.34 |
-15 |
14 |
-77 |
-33 |
Net Cash From Investing Activities |
|
-34 |
-108 |
-34 |
-86 |
1.56 |
-82 |
-38 |
-175 |
-41 |
-86 |
-48 |
Net Cash From Continuing Investing Activities |
|
-34 |
-108 |
-34 |
-86 |
1.56 |
-82 |
-38 |
-175 |
-41 |
-86 |
-48 |
Purchase of Property, Leasehold Improvements and Equipment |
|
-2.45 |
-2.82 |
-1.52 |
-3.03 |
-3.35 |
-1.47 |
-2.19 |
-1.84 |
-1.48 |
-1.40 |
-1.71 |
Purchase of Investment Securities |
|
-156 |
-161 |
-241 |
-137 |
-128 |
-150 |
-96 |
-242 |
-160 |
-153 |
-141 |
Sale and/or Maturity of Investments |
|
125 |
56 |
208 |
54 |
133 |
69 |
60 |
70 |
121 |
69 |
96 |
Net Cash From Financing Activities |
|
-20 |
-5.50 |
-17 |
-26 |
-19 |
-28 |
-31 |
-20 |
-17 |
-29 |
-34 |
Net Cash From Continuing Financing Activities |
|
-20 |
-5.50 |
-17 |
-26 |
-19 |
-28 |
-31 |
-20 |
-17 |
-29 |
-34 |
Issuance of Common Equity |
|
0.88 |
0.05 |
2.66 |
0.05 |
0.16 |
7.68 |
4.22 |
0.06 |
0.00 |
0.01 |
2.78 |
Repurchase of Common Equity |
|
-21 |
-5.38 |
-15 |
-26 |
-19 |
-32 |
-25 |
-27 |
-17 |
-29 |
-26 |
Other Financing Activities, Net |
|
-0.06 |
-0.17 |
-5.26 |
-0.03 |
-0.15 |
-3.91 |
-9.80 |
-0.38 |
-0.01 |
-0.03 |
-10 |
Cash Interest Paid |
|
- |
15 |
- |
- |
- |
15 |
- |
- |
-14 |
14 |
19 |
Annual Balance Sheets for NMI
This table presents NMI's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.
Metric |
|
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
Total Assets |
|
662 |
840 |
895 |
1,092 |
1,365 |
2,167 |
2,451 |
2,516 |
2,941 |
3,350 |
Cash and Due from Banks |
|
57 |
48 |
19 |
25 |
41 |
127 |
- |
44 |
97 |
54 |
Trading Account Securities |
|
559 |
629 |
716 |
911 |
1,141 |
1,804 |
2,086 |
2,099 |
2,371 |
2,724 |
Loans and Leases, Net of Allowance |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Accrued Investment Income |
|
2.87 |
3.42 |
4.21 |
5.69 |
6.83 |
9.86 |
12 |
14 |
20 |
22 |
Premises and Equipment, Net |
|
15 |
20 |
23 |
25 |
26 |
30 |
32 |
32 |
30 |
26 |
Unearned Premiums Asset |
|
5.14 |
52 |
65 |
66 |
67 |
56 |
60 |
70 |
76 |
83 |
Deferred Acquisition Cost |
|
18 |
30 |
38 |
47 |
60 |
62 |
60 |
59 |
63 |
64 |
Intangible Assets |
|
3.63 |
3.63 |
3.63 |
3.63 |
3.63 |
3.63 |
3.63 |
3.63 |
3.63 |
3.63 |
Other Assets |
|
1.52 |
54 |
26 |
7.95 |
20 |
74 |
120 |
194 |
280 |
373 |
Total Liabilities & Shareholders' Equity |
|
662 |
840 |
895 |
1,092 |
1,365 |
2,167 |
2,451 |
2,516 |
2,941 |
3,350 |
Total Liabilities |
|
260 |
364 |
386 |
391 |
434 |
797 |
885 |
902 |
1,015 |
1,133 |
Other Short-Term Payables |
|
23 |
25 |
23 |
31 |
40 |
62 |
- |
75 |
86 |
103 |
Long-Term Debt |
|
144 |
144 |
144 |
147 |
146 |
393 |
395 |
396 |
398 |
415 |
Claims and Claim Expense |
|
0.68 |
3.00 |
8.76 |
13 |
24 |
91 |
104 |
100 |
124 |
152 |
Unearned Premiums Liability |
|
91 |
153 |
163 |
159 |
137 |
119 |
139 |
123 |
92 |
65 |
Other Long-Term Liabilities |
|
1.60 |
39 |
47 |
41 |
88 |
133 |
247 |
209 |
314 |
397 |
Commitments & Contingencies |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Total Equity & Noncontrolling Interests |
|
403 |
476 |
509 |
702 |
930 |
1,370 |
1,566 |
1,614 |
1,926 |
2,217 |
Total Preferred & Common Equity |
|
403 |
476 |
509 |
702 |
930 |
1,370 |
1,566 |
1,614 |
1,926 |
2,217 |
Total Common Equity |
|
402 |
476 |
509 |
702 |
930 |
1,370 |
1,566 |
1,614 |
1,926 |
2,217 |
Common Stock |
|
570 |
578 |
586 |
683 |
708 |
939 |
956 |
974 |
992 |
1,006 |
Retained Earnings |
|
-161 |
-97 |
-74 |
33 |
205 |
377 |
608 |
901 |
1,223 |
1,583 |
Treasury Stock |
|
- |
- |
- |
- |
- |
- |
0.00 |
-57 |
-149 |
-247 |
Accumulated Other Comprehensive Income / (Loss) |
|
-7.47 |
-5.29 |
-2.86 |
-15 |
17 |
54 |
1.49 |
-204 |
-140 |
-125 |
Quarterly Balance Sheets for NMI
This table presents NMI's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q1 2025 |
Total Assets |
|
2,404 |
2,634 |
2,690 |
2,762 |
3,006 |
3,102 |
3,320 |
3,456 |
Cash and Due from Banks |
|
126 |
83 |
73 |
176 |
140 |
63 |
133 |
74 |
Trading Account Securities |
|
1,974 |
2,172 |
2,234 |
2,198 |
2,394 |
2,521 |
2,708 |
2,809 |
Loans and Leases, Net of Allowance |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Accrued Investment Income |
|
13 |
16 |
17 |
18 |
20 |
21 |
22 |
24 |
Premises and Equipment, Net |
|
32 |
32 |
32 |
32 |
30 |
29 |
27 |
25 |
Unearned Premiums Asset |
|
69 |
70 |
72 |
73 |
75 |
76 |
78 |
84 |
Deferred Acquisition Cost |
|
59 |
60 |
61 |
62 |
63 |
63 |
64 |
64 |
Intangible Assets |
|
3.63 |
3.63 |
3.63 |
3.63 |
3.63 |
3.63 |
3.63 |
3.63 |
Other Assets |
|
127 |
198 |
196 |
199 |
281 |
325 |
284 |
372 |
Total Liabilities & Shareholders' Equity |
|
2,404 |
2,634 |
2,690 |
2,762 |
3,006 |
3,102 |
3,320 |
3,456 |
Total Liabilities |
|
878 |
927 |
941 |
971 |
1,028 |
1,056 |
1,125 |
1,135 |
Other Short-Term Payables |
|
74 |
70 |
73 |
89 |
82 |
78 |
111 |
79 |
Long-Term Debt |
|
396 |
396 |
397 |
397 |
398 |
414 |
415 |
416 |
Claims and Claim Expense |
|
95 |
108 |
110 |
116 |
127 |
125 |
136 |
152 |
Unearned Premiums Liability |
|
131 |
114 |
105 |
98 |
86 |
78 |
72 |
59 |
Other Long-Term Liabilities |
|
183 |
238 |
256 |
271 |
335 |
360 |
392 |
429 |
Commitments & Contingencies |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Total Equity & Noncontrolling Interests |
|
1,526 |
1,707 |
1,749 |
1,791 |
1,978 |
2,046 |
2,195 |
2,322 |
Total Preferred & Common Equity |
|
1,526 |
1,707 |
1,749 |
1,791 |
1,978 |
2,046 |
2,195 |
2,322 |
Total Common Equity |
|
1,526 |
1,707 |
1,749 |
1,791 |
1,978 |
2,046 |
2,195 |
2,322 |
Common Stock |
|
970 |
974 |
978 |
982 |
990 |
994 |
998 |
1,002 |
Retained Earnings |
|
828 |
976 |
1,056 |
1,140 |
1,312 |
1,404 |
1,497 |
1,686 |
Treasury Stock |
|
-51 |
-71 |
-98 |
-117 |
-174 |
-201 |
-218 |
-273 |
Accumulated Other Comprehensive Income / (Loss) |
|
-221 |
-172 |
-187 |
-214 |
-150 |
-151 |
-82 |
-94 |
Annual Metrics And Ratios for NMI
This table displays calculated financial ratios and metrics derived from NMI's official financial filings.
Metric |
|
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
140.71% |
100.29% |
54.21% |
56.65% |
38.42% |
14.21% |
10.85% |
15.46% |
10.64% |
12.43% |
EBITDA Growth |
|
47.51% |
189.44% |
208.24% |
137.79% |
53.49% |
3.30% |
34.28% |
25.33% |
7.55% |
11.67% |
EBIT Growth |
|
45.81% |
141.20% |
360.99% |
157.54% |
59.35% |
0.67% |
36.05% |
27.16% |
9.38% |
12.29% |
NOPAT Growth |
|
45.81% |
428.97% |
-65.55% |
389.46% |
59.33% |
-0.23% |
34.72% |
26.73% |
9.97% |
11.80% |
Net Income Growth |
|
43.17% |
330.28% |
-65.55% |
389.46% |
59.33% |
-0.23% |
34.72% |
26.73% |
9.97% |
11.80% |
EPS Growth |
|
44.05% |
323.40% |
-66.67% |
357.14% |
54.38% |
-13.77% |
24.41% |
27.92% |
13.27% |
15.36% |
Operating Cash Flow Growth |
|
297.75% |
73.51% |
-5.81% |
115.25% |
42.70% |
21.35% |
28.95% |
-3.78% |
9.35% |
14.86% |
Free Cash Flow Firm Growth |
|
-39,346.22% |
93.40% |
-20.19% |
-690.90% |
35.94% |
-820.39% |
106.53% |
624.52% |
-96.60% |
516.81% |
Invested Capital Growth |
|
28.04% |
13.39% |
5.34% |
29.91% |
26.87% |
63.81% |
11.20% |
2.52% |
15.61% |
13.30% |
Revenue Q/Q Growth |
|
27.87% |
13.40% |
11.17% |
12.65% |
6.18% |
0.03% |
4.50% |
8.27% |
6.31% |
7.84% |
EBITDA Q/Q Growth |
|
24.22% |
126.50% |
19.93% |
23.42% |
8.65% |
0.07% |
5.75% |
4.10% |
2.46% |
0.92% |
EBIT Q/Q Growth |
|
20.71% |
1,296.59% |
23.37% |
26.15% |
8.81% |
-0.53% |
5.91% |
4.61% |
2.59% |
1.24% |
NOPAT Q/Q Growth |
|
17.78% |
21,462.15% |
-73.60% |
52.78% |
9.33% |
-1.11% |
5.60% |
4.43% |
3.36% |
0.77% |
Net Income Q/Q Growth |
|
15.76% |
11,908.30% |
-73.60% |
52.78% |
9.33% |
-1.11% |
5.60% |
4.43% |
3.36% |
0.77% |
EPS Q/Q Growth |
|
16.07% |
5,350.00% |
-74.64% |
55.34% |
9.29% |
-6.99% |
4.74% |
4.95% |
4.07% |
1.37% |
Operating Cash Flow Q/Q Growth |
|
180.97% |
-7.17% |
10.17% |
16.38% |
11.86% |
-10.92% |
2.11% |
-3.85% |
-0.49% |
1.47% |
Free Cash Flow Firm Q/Q Growth |
|
-5,591.56% |
94.48% |
-463.03% |
-6.72% |
-2.30% |
-1.49% |
277.29% |
-9.62% |
-81.59% |
179.43% |
Invested Capital Q/Q Growth |
|
33.92% |
7.90% |
-0.31% |
5.05% |
5.56% |
3.67% |
2.61% |
4.59% |
6.19% |
0.87% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
-42.43% |
18.95% |
37.87% |
57.48% |
63.74% |
57.65% |
69.84% |
75.81% |
73.69% |
73.20% |
EBIT Margin |
|
-51.99% |
10.70% |
31.97% |
52.57% |
60.51% |
53.34% |
65.46% |
72.09% |
71.28% |
71.19% |
Profit (Net Income) Margin |
|
-51.99% |
59.78% |
13.35% |
41.73% |
48.03% |
41.96% |
50.99% |
55.97% |
55.63% |
55.32% |
Tax Burden Percent |
|
100.00% |
558.86% |
41.77% |
79.38% |
79.37% |
78.66% |
77.89% |
77.63% |
78.05% |
77.71% |
Interest Burden Percent |
|
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
Effective Tax Rate |
|
0.00% |
-458.86% |
58.23% |
20.62% |
20.63% |
21.34% |
22.11% |
22.37% |
21.95% |
22.29% |
Return on Invested Capital (ROIC) |
|
-4.00% |
10.97% |
3.46% |
14.38% |
17.87% |
12.09% |
12.42% |
14.76% |
14.87% |
14.53% |
ROIC Less NNEP Spread (ROIC-NNEP) |
|
-15.58% |
10.97% |
3.46% |
14.38% |
17.87% |
12.09% |
12.42% |
14.76% |
14.87% |
14.53% |
Return on Net Nonoperating Assets (RNNOA) |
|
-2.70% |
3.60% |
1.01% |
3.45% |
3.20% |
2.83% |
3.33% |
3.67% |
3.33% |
2.85% |
Return on Equity (ROE) |
|
-6.70% |
14.57% |
4.48% |
17.83% |
21.07% |
14.92% |
15.75% |
18.42% |
18.20% |
17.38% |
Cash Return on Invested Capital (CROIC) |
|
-28.59% |
-1.58% |
-1.74% |
-11.64% |
-5.82% |
-36.29% |
1.81% |
12.27% |
0.38% |
2.06% |
Operating Return on Assets (OROA) |
|
-4.94% |
1.52% |
6.09% |
13.69% |
17.64% |
12.35% |
12.85% |
15.19% |
15.13% |
14.73% |
Return on Assets (ROA) |
|
-4.94% |
8.52% |
2.54% |
10.86% |
14.00% |
9.72% |
10.01% |
11.79% |
11.81% |
11.45% |
Return on Common Equity (ROCE) |
|
-6.69% |
14.57% |
4.48% |
17.83% |
21.07% |
14.92% |
15.75% |
18.42% |
18.20% |
17.38% |
Return on Equity Simple (ROE_SIMPLE) |
|
-6.90% |
13.46% |
4.33% |
15.39% |
18.48% |
12.53% |
14.76% |
18.15% |
16.72% |
16.24% |
Net Operating Profit after Tax (NOPAT) |
|
-19 |
64 |
22 |
108 |
172 |
172 |
231 |
293 |
322 |
360 |
NOPAT Margin |
|
-36.39% |
59.78% |
13.35% |
41.73% |
48.03% |
41.96% |
50.99% |
55.97% |
55.63% |
55.32% |
Net Nonoperating Expense Percent (NNEP) |
|
11.59% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
SG&A Expenses to Revenue |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Operating Expenses to Revenue |
|
151.99% |
89.30% |
68.03% |
47.43% |
39.49% |
46.66% |
34.54% |
27.91% |
28.72% |
28.81% |
Earnings before Interest and Taxes (EBIT) |
|
-28 |
11 |
53 |
136 |
217 |
218 |
297 |
377 |
413 |
463 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
-23 |
20 |
63 |
149 |
228 |
236 |
317 |
397 |
427 |
476 |
Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Price to Book Value (P/BV) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
1.31 |
Price to Tangible Book Value (P/TBV) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
1.31 |
Price to Revenue (P/Rev) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
4.47 |
Price to Earnings (P/E) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
8.08 |
Dividend Yield |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Earnings Yield |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
12.38% |
Enterprise Value to Invested Capital (EV/IC) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
1.24 |
Enterprise Value to Revenue (EV/Rev) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
5.02 |
Enterprise Value to EBITDA (EV/EBITDA) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
6.86 |
Enterprise Value to EBIT (EV/EBIT) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
7.06 |
Enterprise Value to NOPAT (EV/NOPAT) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
9.08 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
8.31 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
63.95 |
Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Debt to Equity |
|
0.36 |
0.30 |
0.28 |
0.21 |
0.16 |
0.29 |
0.25 |
0.25 |
0.21 |
0.19 |
Long-Term Debt to Equity |
|
0.36 |
0.30 |
0.28 |
0.21 |
0.16 |
0.29 |
0.25 |
0.25 |
0.21 |
0.19 |
Financial Leverage |
|
0.17 |
0.33 |
0.29 |
0.24 |
0.18 |
0.23 |
0.27 |
0.25 |
0.22 |
0.20 |
Leverage Ratio |
|
1.36 |
1.71 |
1.76 |
1.64 |
1.51 |
1.54 |
1.57 |
1.56 |
1.54 |
1.52 |
Compound Leverage Factor |
|
1.36 |
1.71 |
1.76 |
1.64 |
1.51 |
1.54 |
1.57 |
1.56 |
1.54 |
1.52 |
Debt to Total Capital |
|
26.33% |
23.29% |
22.04% |
17.30% |
13.54% |
22.31% |
20.13% |
19.71% |
17.11% |
15.77% |
Short-Term Debt to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Long-Term Debt to Total Capital |
|
26.33% |
23.29% |
22.04% |
17.30% |
13.54% |
22.31% |
20.13% |
19.71% |
17.11% |
15.77% |
Preferred Equity to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Noncontrolling Interests to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Common Equity to Total Capital |
|
73.56% |
76.71% |
77.96% |
82.70% |
86.46% |
77.69% |
79.87% |
80.29% |
82.89% |
84.23% |
Debt to EBITDA |
|
-6.35 |
7.12 |
2.30 |
0.99 |
0.64 |
1.67 |
1.25 |
1.00 |
0.93 |
0.87 |
Net Debt to EBITDA |
|
-3.82 |
4.76 |
1.99 |
0.82 |
0.46 |
1.13 |
1.00 |
0.89 |
0.71 |
0.76 |
Long-Term Debt to EBITDA |
|
-6.35 |
7.12 |
2.30 |
0.99 |
0.64 |
1.67 |
1.25 |
1.00 |
0.93 |
0.87 |
Debt to NOPAT |
|
-7.40 |
2.26 |
6.53 |
1.36 |
0.85 |
2.29 |
1.71 |
1.35 |
1.23 |
1.15 |
Net Debt to NOPAT |
|
-4.45 |
1.51 |
5.65 |
1.13 |
0.61 |
1.55 |
1.38 |
1.20 |
0.93 |
1.00 |
Long-Term Debt to NOPAT |
|
-7.40 |
2.26 |
6.53 |
1.36 |
0.85 |
2.29 |
1.71 |
1.35 |
1.23 |
1.15 |
Noncontrolling Interest Sharing Ratio |
|
0.14% |
0.07% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
|
-139 |
-9.19 |
-11 |
-87 |
-56 |
-515 |
34 |
244 |
8.29 |
51 |
Operating Cash Flow to CapEx |
|
675.84% |
627.18% |
796.28% |
1,809.69% |
2,090.70% |
2,077.46% |
2,661.54% |
2,964.38% |
3,656.46% |
5,700.28% |
Free Cash Flow to Firm to Interest Expense |
|
-67.66 |
-0.62 |
-0.82 |
-5.83 |
-4.63 |
-21.12 |
1.06 |
0.00 |
0.00 |
0.00 |
Operating Cash Flow to Interest Expense |
|
20.16 |
4.85 |
5.01 |
9.74 |
17.22 |
10.36 |
10.24 |
0.00 |
0.00 |
0.00 |
Operating Cash Flow Less CapEx to Interest Expense |
|
17.17 |
4.07 |
4.38 |
9.20 |
16.40 |
9.86 |
9.86 |
0.00 |
0.00 |
0.00 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
0.10 |
0.14 |
0.19 |
0.26 |
0.29 |
0.23 |
0.20 |
0.21 |
0.21 |
0.21 |
Fixed Asset Turnover |
|
3.96 |
6.01 |
7.64 |
10.88 |
14.08 |
14.67 |
14.69 |
16.36 |
18.62 |
23.28 |
Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Invested Capital |
|
547 |
620 |
653 |
848 |
1,076 |
1,763 |
1,960 |
2,010 |
2,324 |
2,633 |
Invested Capital Turnover |
|
0.11 |
0.18 |
0.26 |
0.34 |
0.37 |
0.29 |
0.24 |
0.26 |
0.27 |
0.26 |
Increase / (Decrease) in Invested Capital |
|
120 |
73 |
33 |
195 |
228 |
687 |
198 |
49 |
314 |
309 |
Enterprise Value (EV) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
3,270 |
Market Capitalization |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
2,909 |
Book Value per Share |
|
$6.85 |
$8.04 |
$8.48 |
$10.58 |
$13.69 |
$16.15 |
$18.26 |
$19.31 |
$23.75 |
$28.02 |
Tangible Book Value per Share |
|
$6.78 |
$7.98 |
$8.42 |
$10.53 |
$13.63 |
$16.11 |
$18.22 |
$19.26 |
$23.71 |
$27.98 |
Total Capital |
|
547 |
620 |
653 |
848 |
1,076 |
1,763 |
1,960 |
2,010 |
2,324 |
2,633 |
Total Debt |
|
144 |
144 |
144 |
147 |
146 |
393 |
395 |
396 |
398 |
415 |
Total Long-Term Debt |
|
144 |
144 |
144 |
147 |
146 |
393 |
395 |
396 |
398 |
415 |
Net Debt |
|
87 |
97 |
125 |
121 |
105 |
266 |
318 |
352 |
301 |
361 |
Capital Expenditures (CapEx) |
|
6.14 |
11 |
8.51 |
8.06 |
9.96 |
12 |
12 |
11 |
9.37 |
6.91 |
Net Nonoperating Expense (NNE) |
|
8.34 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Net Nonoperating Obligations (NNO) |
|
144 |
144 |
144 |
147 |
146 |
393 |
395 |
396 |
398 |
415 |
Total Depreciation and Amortization (D&A) |
|
5.11 |
8.83 |
9.74 |
13 |
12 |
18 |
20 |
19 |
14 |
13 |
Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
|
($0.47) |
$1.11 |
$0.37 |
$1.66 |
$2.54 |
$2.20 |
$2.70 |
$0.00 |
$3.91 |
$4.51 |
Adjusted Weighted Average Basic Shares Outstanding |
|
58.83M |
59.07M |
59.82M |
65.02M |
67.57M |
78.02M |
85.62M |
0.00 |
82.41M |
79.84M |
Adjusted Diluted Earnings per Share |
|
($0.47) |
$1.08 |
$0.35 |
$1.60 |
$2.47 |
$2.13 |
$2.65 |
$0.00 |
$3.84 |
$4.43 |
Adjusted Weighted Average Diluted Shares Outstanding |
|
58.83M |
60.83M |
62.19M |
67.65M |
69.72M |
79.26M |
86.89M |
0.00 |
83.85M |
81.27M |
Adjusted Basic & Diluted Earnings per Share |
|
($0.47) |
$0.00 |
$0.00 |
$0.00 |
$2.54 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
58.68M |
59.15M |
60.61M |
66.43M |
68.44M |
85.30M |
85.84M |
0.00 |
80.88M |
78.45M |
Normalized Net Operating Profit after Tax (NOPAT) |
|
-19 |
8.02 |
37 |
108 |
172 |
169 |
231 |
292 |
322 |
360 |
Normalized NOPAT Margin |
|
-36.39% |
7.49% |
22.38% |
41.73% |
48.03% |
41.40% |
50.89% |
55.80% |
55.63% |
55.32% |
Pre Tax Income Margin |
|
-51.99% |
10.70% |
31.97% |
52.57% |
60.51% |
53.34% |
65.46% |
72.09% |
71.28% |
71.19% |
Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBIT to Interest Expense |
|
-13.51 |
0.77 |
3.90 |
9.08 |
17.93 |
8.94 |
9.33 |
0.00 |
0.00 |
0.00 |
NOPAT to Interest Expense |
|
-9.46 |
4.31 |
1.63 |
7.21 |
14.23 |
7.04 |
7.27 |
0.00 |
0.00 |
0.00 |
EBIT Less CapEx to Interest Expense |
|
-16.49 |
0.00 |
3.27 |
8.54 |
17.10 |
8.45 |
8.95 |
0.00 |
0.00 |
0.00 |
NOPAT Less CapEx to Interest Expense |
|
-12.44 |
3.54 |
1.00 |
6.67 |
13.41 |
6.54 |
6.88 |
0.00 |
0.00 |
0.00 |
Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividend Payout Ratio |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Augmented Payout Ratio |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
19.32% |
28.44% |
27.11% |
Quarterly Metrics And Ratios for NMI
This table displays calculated financial ratios and metrics derived from NMI's official financial filings.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
5.54% |
34.10% |
7.82% |
14.91% |
20.91% |
1.39% |
15.13% |
13.62% |
12.10% |
9.49% |
10.88% |
EBITDA Growth |
|
25.41% |
18.75% |
9.15% |
6.13% |
4.85% |
10.34% |
18.02% |
12.94% |
12.29% |
3.96% |
13.14% |
EBIT Growth |
|
27.29% |
21.26% |
10.87% |
7.06% |
8.84% |
10.97% |
19.13% |
14.03% |
11.21% |
5.41% |
14.67% |
NOPAT Growth |
|
27.65% |
20.51% |
10.01% |
6.42% |
9.26% |
14.36% |
19.60% |
14.69% |
10.55% |
3.30% |
15.17% |
Net Income Growth |
|
27.65% |
20.51% |
10.01% |
6.42% |
9.26% |
14.36% |
19.60% |
14.69% |
10.55% |
3.30% |
15.17% |
EPS Growth |
|
30.43% |
22.86% |
14.29% |
10.47% |
11.11% |
17.44% |
22.73% |
18.95% |
15.00% |
5.94% |
18.52% |
Operating Cash Flow Growth |
|
9.04% |
-28.30% |
11.86% |
8.96% |
12.12% |
-5.27% |
24.20% |
15.59% |
6.29% |
18.94% |
-9.34% |
Free Cash Flow Firm Growth |
|
143.93% |
117.21% |
-11.61% |
-1,733.05% |
-377.60% |
-1,077.51% |
-86.68% |
-53.05% |
-80.07% |
3.30% |
-40.20% |
Invested Capital Growth |
|
0.58% |
2.52% |
8.97% |
11.73% |
13.87% |
15.61% |
12.99% |
14.64% |
19.27% |
13.30% |
15.18% |
Revenue Q/Q Growth |
|
-1.31% |
28.31% |
2.93% |
10.83% |
3.84% |
7.60% |
9.57% |
9.38% |
2.45% |
5.09% |
-0.74% |
EBITDA Q/Q Growth |
|
1.26% |
-4.36% |
1.43% |
8.04% |
0.04% |
0.65% |
8.48% |
3.39% |
-0.54% |
-6.81% |
18.06% |
EBIT Q/Q Growth |
|
1.44% |
-3.86% |
1.47% |
8.19% |
3.12% |
-1.97% |
8.92% |
3.56% |
0.58% |
-7.08% |
18.49% |
NOPAT Q/Q Growth |
|
1.85% |
-5.07% |
2.08% |
7.82% |
4.57% |
-0.65% |
6.76% |
3.40% |
0.79% |
-7.16% |
19.02% |
Net Income Q/Q Growth |
|
1.85% |
-5.07% |
2.08% |
7.82% |
4.57% |
-0.65% |
6.76% |
3.40% |
0.79% |
-7.16% |
19.02% |
EPS Q/Q Growth |
|
4.65% |
-4.44% |
2.33% |
7.95% |
5.26% |
1.00% |
6.93% |
4.63% |
1.77% |
-6.96% |
19.63% |
Operating Cash Flow Q/Q Growth |
|
15.23% |
-70.50% |
182.58% |
13.44% |
18.57% |
-75.07% |
270.47% |
5.57% |
9.03% |
-72.11% |
182.38% |
Free Cash Flow Firm Q/Q Growth |
|
640.71% |
-64.18% |
-518.60% |
-47.02% |
-25.91% |
-26.14% |
20.06% |
-20.53% |
-48.15% |
32.26% |
-15.90% |
Invested Capital Q/Q Growth |
|
0.06% |
4.59% |
4.65% |
2.03% |
1.98% |
6.19% |
2.27% |
3.51% |
6.10% |
0.87% |
3.97% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
84.48% |
62.97% |
78.00% |
76.03% |
73.26% |
68.53% |
79.96% |
75.58% |
73.38% |
65.07% |
77.39% |
EBIT Margin |
|
80.45% |
60.28% |
74.70% |
72.92% |
72.42% |
65.98% |
77.30% |
73.18% |
71.84% |
63.52% |
75.83% |
Profit (Net Income) Margin |
|
62.70% |
46.39% |
57.84% |
56.27% |
56.67% |
52.32% |
60.08% |
56.80% |
55.88% |
49.37% |
59.20% |
Tax Burden Percent |
|
77.94% |
76.96% |
77.42% |
77.16% |
78.24% |
79.30% |
77.73% |
77.61% |
77.78% |
77.72% |
78.07% |
Interest Burden Percent |
|
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
Effective Tax Rate |
|
22.06% |
23.04% |
22.58% |
22.84% |
21.76% |
20.70% |
22.27% |
22.39% |
22.22% |
22.28% |
21.93% |
Return on Invested Capital (ROIC) |
|
15.82% |
12.23% |
14.36% |
14.36% |
15.02% |
13.98% |
15.19% |
14.45% |
14.06% |
12.97% |
15.47% |
ROIC Less NNEP Spread (ROIC-NNEP) |
|
15.82% |
12.23% |
14.36% |
14.36% |
15.02% |
13.98% |
15.19% |
14.45% |
14.06% |
12.97% |
15.47% |
Return on Net Nonoperating Assets (RNNOA) |
|
4.11% |
3.04% |
3.50% |
3.48% |
3.59% |
3.14% |
3.27% |
3.09% |
2.86% |
2.54% |
2.93% |
Return on Equity (ROE) |
|
19.93% |
15.27% |
17.86% |
17.84% |
18.61% |
17.12% |
18.47% |
17.53% |
16.92% |
15.51% |
18.39% |
Cash Return on Invested Capital (CROIC) |
|
14.06% |
12.27% |
6.28% |
3.89% |
2.19% |
0.38% |
2.83% |
1.49% |
-2.68% |
2.06% |
0.50% |
Operating Return on Assets (OROA) |
|
16.20% |
12.70% |
14.79% |
14.90% |
15.27% |
14.00% |
15.52% |
14.80% |
14.26% |
13.15% |
15.68% |
Return on Assets (ROA) |
|
12.62% |
9.78% |
11.45% |
11.49% |
11.95% |
11.10% |
12.07% |
11.49% |
11.09% |
10.22% |
12.24% |
Return on Common Equity (ROCE) |
|
19.93% |
15.27% |
17.86% |
17.84% |
18.61% |
17.12% |
18.47% |
17.53% |
16.92% |
15.51% |
18.39% |
Return on Equity Simple (ROE_SIMPLE) |
|
18.38% |
0.00% |
17.56% |
17.41% |
17.40% |
0.00% |
17.02% |
17.04% |
16.28% |
0.00% |
16.09% |
Net Operating Profit after Tax (NOPAT) |
|
77 |
73 |
74 |
80 |
84 |
83 |
89 |
92 |
93 |
86 |
103 |
NOPAT Margin |
|
62.70% |
46.39% |
57.84% |
56.27% |
56.67% |
52.32% |
60.08% |
56.80% |
55.88% |
49.37% |
59.20% |
Net Nonoperating Expense Percent (NNEP) |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
SG&A Expenses to Revenue |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Operating Expenses to Revenue |
|
19.55% |
39.72% |
25.30% |
27.08% |
27.58% |
34.02% |
22.70% |
26.82% |
28.16% |
36.48% |
24.17% |
Earnings before Interest and Taxes (EBIT) |
|
99 |
95 |
96 |
104 |
107 |
105 |
115 |
119 |
119 |
111 |
131 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
104 |
99 |
100 |
108 |
109 |
109 |
119 |
123 |
122 |
114 |
134 |
Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Price to Book Value (P/BV) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
1.34 |
1.50 |
1.31 |
1.22 |
Price to Tangible Book Value (P/TBV) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
1.34 |
1.50 |
1.31 |
1.22 |
Price to Revenue (P/Rev) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
4.67 |
5.44 |
4.47 |
4.23 |
Price to Earnings (P/E) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
7.84 |
9.18 |
8.08 |
7.57 |
Dividend Yield |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Earnings Yield |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
12.75% |
10.89% |
12.38% |
13.21% |
Enterprise Value to Invested Capital (EV/IC) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
1.25 |
1.37 |
1.24 |
1.16 |
Enterprise Value to Revenue (EV/Rev) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
5.27 |
5.90 |
5.02 |
4.75 |
Enterprise Value to EBITDA (EV/EBITDA) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
6.72 |
7.55 |
6.86 |
6.44 |
Enterprise Value to EBIT (EV/EBIT) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
6.92 |
7.78 |
7.06 |
6.60 |
Enterprise Value to NOPAT (EV/NOPAT) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
8.85 |
9.97 |
9.08 |
8.48 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
8.11 |
9.19 |
8.31 |
8.27 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
89.65 |
0.00 |
63.95 |
247.24 |
Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Debt to Equity |
|
0.26 |
0.25 |
0.23 |
0.23 |
0.22 |
0.21 |
0.20 |
0.20 |
0.19 |
0.19 |
0.18 |
Long-Term Debt to Equity |
|
0.26 |
0.25 |
0.23 |
0.23 |
0.22 |
0.21 |
0.20 |
0.20 |
0.19 |
0.19 |
0.18 |
Financial Leverage |
|
0.26 |
0.25 |
0.24 |
0.24 |
0.24 |
0.22 |
0.22 |
0.21 |
0.20 |
0.20 |
0.19 |
Leverage Ratio |
|
1.58 |
1.56 |
1.56 |
1.55 |
1.56 |
1.54 |
1.53 |
1.53 |
1.53 |
1.52 |
1.50 |
Compound Leverage Factor |
|
1.58 |
1.56 |
1.56 |
1.55 |
1.56 |
1.54 |
1.53 |
1.53 |
1.53 |
1.52 |
1.50 |
Debt to Total Capital |
|
20.59% |
19.71% |
18.85% |
18.49% |
18.15% |
17.11% |
16.75% |
16.84% |
15.89% |
15.77% |
15.18% |
Short-Term Debt to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Long-Term Debt to Total Capital |
|
20.59% |
19.71% |
18.85% |
18.49% |
18.15% |
17.11% |
16.75% |
16.84% |
15.89% |
15.77% |
15.18% |
Preferred Equity to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Noncontrolling Interests to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Common Equity to Total Capital |
|
79.41% |
80.29% |
81.15% |
81.51% |
81.85% |
82.89% |
83.25% |
83.16% |
84.11% |
84.23% |
84.82% |
Debt to EBITDA |
|
1.04 |
1.00 |
0.98 |
0.96 |
0.95 |
0.93 |
0.89 |
0.90 |
0.88 |
0.87 |
0.84 |
Net Debt to EBITDA |
|
0.71 |
0.89 |
0.77 |
0.79 |
0.53 |
0.71 |
0.58 |
0.77 |
0.60 |
0.76 |
0.69 |
Long-Term Debt to EBITDA |
|
1.04 |
1.00 |
0.98 |
0.96 |
0.95 |
0.93 |
0.89 |
0.90 |
0.88 |
0.87 |
0.84 |
Debt to NOPAT |
|
1.41 |
1.35 |
1.32 |
1.30 |
1.27 |
1.23 |
1.18 |
1.19 |
1.16 |
1.15 |
1.11 |
Net Debt to NOPAT |
|
0.96 |
1.20 |
1.05 |
1.06 |
0.71 |
0.93 |
0.77 |
1.01 |
0.79 |
1.00 |
0.91 |
Long-Term Debt to NOPAT |
|
1.41 |
1.35 |
1.32 |
1.30 |
1.27 |
1.23 |
1.18 |
1.19 |
1.16 |
1.15 |
1.11 |
Noncontrolling Interest Sharing Ratio |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
|
66 |
24 |
-99 |
-145 |
-183 |
-230 |
-184 |
-222 |
-329 |
-223 |
-258 |
Operating Cash Flow to CapEx |
|
4,407.73% |
1,129.34% |
5,921.89% |
3,359.87% |
3,607.82% |
2,044.60% |
5,104.03% |
6,401.58% |
8,665.32% |
2,564.14% |
5,929.13% |
Free Cash Flow to Firm to Interest Expense |
|
8.19 |
0.00 |
-12.27 |
0.00 |
0.00 |
0.00 |
-22.91 |
0.00 |
0.00 |
0.00 |
0.00 |
Operating Cash Flow to Interest Expense |
|
13.41 |
0.00 |
11.17 |
0.00 |
0.00 |
0.00 |
13.88 |
0.00 |
0.00 |
0.00 |
0.00 |
Operating Cash Flow Less CapEx to Interest Expense |
|
13.11 |
0.00 |
10.99 |
0.00 |
0.00 |
0.00 |
13.61 |
0.00 |
0.00 |
0.00 |
0.00 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
0.20 |
0.21 |
0.20 |
0.20 |
0.21 |
0.21 |
0.20 |
0.20 |
0.20 |
0.21 |
0.21 |
Fixed Asset Turnover |
|
15.05 |
16.36 |
15.59 |
16.14 |
16.98 |
18.62 |
18.23 |
19.17 |
20.38 |
23.28 |
24.17 |
Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Invested Capital |
|
1,922 |
2,010 |
2,103 |
2,146 |
2,188 |
2,324 |
2,376 |
2,460 |
2,610 |
2,633 |
2,737 |
Invested Capital Turnover |
|
0.25 |
0.26 |
0.25 |
0.26 |
0.27 |
0.27 |
0.25 |
0.25 |
0.25 |
0.26 |
0.26 |
Increase / (Decrease) in Invested Capital |
|
11 |
49 |
173 |
225 |
267 |
314 |
273 |
314 |
422 |
309 |
361 |
Enterprise Value (EV) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
3,084 |
3,563 |
3,270 |
3,170 |
Market Capitalization |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
2,733 |
3,282 |
2,909 |
2,828 |
Book Value per Share |
|
$18.01 |
$19.31 |
$20.40 |
$21.00 |
$21.77 |
$23.75 |
$24.51 |
$25.48 |
$27.55 |
$28.02 |
$29.59 |
Tangible Book Value per Share |
|
$17.97 |
$19.26 |
$20.36 |
$20.96 |
$21.72 |
$23.71 |
$24.46 |
$25.44 |
$27.51 |
$27.98 |
$29.55 |
Total Capital |
|
1,922 |
2,010 |
2,103 |
2,146 |
2,188 |
2,324 |
2,376 |
2,460 |
2,610 |
2,633 |
2,737 |
Total Debt |
|
396 |
396 |
396 |
397 |
397 |
398 |
398 |
414 |
415 |
415 |
416 |
Total Long-Term Debt |
|
396 |
396 |
396 |
397 |
397 |
398 |
398 |
414 |
415 |
415 |
416 |
Net Debt |
|
270 |
352 |
313 |
323 |
221 |
301 |
258 |
352 |
281 |
361 |
341 |
Capital Expenditures (CapEx) |
|
2.45 |
2.82 |
1.52 |
3.03 |
3.35 |
1.47 |
2.19 |
1.84 |
1.48 |
1.40 |
1.71 |
Net Nonoperating Expense (NNE) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Net Nonoperating Obligations (NNO) |
|
396 |
396 |
396 |
397 |
397 |
398 |
398 |
414 |
415 |
415 |
416 |
Total Depreciation and Amortization (D&A) |
|
4.93 |
4.22 |
4.24 |
4.44 |
1.24 |
4.06 |
3.94 |
3.88 |
2.54 |
2.70 |
2.71 |
Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
|
$0.91 |
$0.87 |
$0.89 |
$0.97 |
$1.02 |
$1.03 |
$1.10 |
$1.15 |
$1.17 |
$1.09 |
$1.31 |
Adjusted Weighted Average Basic Shares Outstanding |
|
84.44M |
84.92M |
83.60M |
82.96M |
82.10M |
82.41M |
80.73M |
80.12M |
79.55M |
79.84M |
78.41M |
Adjusted Diluted Earnings per Share |
|
$0.90 |
$0.86 |
$0.88 |
$0.95 |
$1.00 |
$1.01 |
$1.08 |
$1.13 |
$1.15 |
$1.07 |
$1.28 |
Adjusted Weighted Average Diluted Shares Outstanding |
|
85.49M |
86.00M |
84.84M |
84.19M |
83.67M |
83.85M |
82.10M |
81.30M |
81.05M |
81.27M |
79.86M |
Adjusted Basic & Diluted Earnings per Share |
|
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
83.58M |
83.66M |
83.28M |
82.28M |
81.08M |
80.88M |
80.28M |
79.67M |
79.13M |
78.45M |
78.12M |
Normalized Net Operating Profit after Tax (NOPAT) |
|
77 |
73 |
74 |
80 |
84 |
83 |
89 |
92 |
93 |
86 |
103 |
Normalized NOPAT Margin |
|
62.70% |
46.39% |
57.84% |
56.27% |
56.67% |
52.32% |
60.08% |
56.80% |
55.88% |
49.37% |
59.20% |
Pre Tax Income Margin |
|
80.45% |
60.28% |
74.70% |
72.92% |
72.42% |
65.98% |
77.30% |
73.18% |
71.84% |
63.52% |
75.83% |
Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBIT to Interest Expense |
|
12.27 |
0.00 |
11.96 |
0.00 |
0.00 |
0.00 |
14.25 |
0.00 |
0.00 |
0.00 |
0.00 |
NOPAT to Interest Expense |
|
9.56 |
0.00 |
9.26 |
0.00 |
0.00 |
0.00 |
11.08 |
0.00 |
0.00 |
0.00 |
0.00 |
EBIT Less CapEx to Interest Expense |
|
11.96 |
0.00 |
11.77 |
0.00 |
0.00 |
0.00 |
13.98 |
0.00 |
0.00 |
0.00 |
0.00 |
NOPAT Less CapEx to Interest Expense |
|
9.26 |
0.00 |
9.07 |
0.00 |
0.00 |
0.00 |
10.80 |
0.00 |
0.00 |
0.00 |
0.00 |
Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividend Payout Ratio |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Augmented Payout Ratio |
|
18.25% |
19.32% |
22.15% |
22.00% |
20.99% |
28.44% |
30.30% |
29.52% |
28.12% |
27.11% |
26.32% |
Key Financial Trends
NMI Holdings, Inc. (NASDAQ: NMIH) has demonstrated consistent financial performance over the past four years through Q1 2025. Here are the key trends and highlights from the income statements, cash flow statements, and balance sheets:
- Net income has steadily increased from about $74.5 million in Q1 2023 to $102.6 million in Q1 2025, showing a strong growth trajectory.
- Total revenue grew from approximately $128.7 million in Q1 2023 to $173.2 million in Q1 2025, largely driven by higher premiums earned and net realized & unrealized capital gains on investments.
- Premiums earned increased consistently each year, reaching $149.4 million in Q1 2025, underpinning revenue growth.
- NMIH’s cash flow from operating activities expanded from about $89.8 million in Q1 2023 to over $101.2 million in Q1 2025, reflecting improving core business cash generation.
- Total equity rose from roughly $1.7 billion at Q1 2023 to $2.32 billion by Q1 2025, indicating a strengthening balance sheet and retained earnings growth.
- NMIH currently reports zero total interest income but incurs consistent interest expense related to long-term debt, around $8 million quarterly over recent years.
- Trading account securities have increased from about $2.17 billion in Q1 2023 to nearly $2.81 billion in Q1 2025, suggesting an expanding investment portfolio to support growth.
- Other operating expenses and property & liability insurance claims have risen over time, with operating expenses increasing from $25.9 million in Q1 2023 to $37.4 million in Q1 2025, potentially pressuring margins if unchecked.
- Significant investments in securities acquisitions outpace sale maturities, leading to negative investing cash flow (e.g., -$47.7 million in Q1 2025), which could strain liquidity if continuation is not balanced by other sources.
- Consistent repurchases of common equity have reduced treasury stock levels, with cash outflows for buybacks over $25 million in Q1 2025, which may impact cash reserves and financial flexibility.
Overall, NMI Holdings has shown solid revenue and profitability growth coupled with increasing equity, supported by rising premiums and investment gains. However, rising expenses and ongoing investment outflows alongside equity repurchases warrant monitoring as they may affect future cash flows. Investors should watch for how the company balances growth initiatives with expense control and capital allocation.
08/02/25 09:51 AMAI Generated. May Contain Errors.