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 exhibited a generally positive financial performance trend over the past several quarters and years, highlighted by strong net income growth and solid capital management. Here are the key takeaways for retail investors:
- Consistent Growth in Net Income: NMIH's net income attributable to common shareholders has steadily increased from about $74.5 million in Q1 2023 to approximately $102.6 million in Q1 2025, indicating solid profitability growth.
- Strong Earnings per Share (EPS) Improvement: Basic EPS rose from $0.89 in Q1 2023 to $1.31 in Q1 2025, showing improved shareholder value and earnings power per share.
- Effective Cash Flow Generation: Net cash from operating activities has remained strong, reaching $101.2 million in Q1 2025 compared to $89.8 million in Q1 2023, supporting ongoing operations and investment.
- Robust Investment Income: Premiums earned and capital gains on investments have grown over time. For example, premiums earned increased to $149.4 million in Q1 2025 from $121.8 million in Q1 2023, boosting total non-interest income.
- Stable Equity Position: Total common equity grew from $1.71 billion in Q1 2023 to $2.32 billion in Q1 2025, reinforcing the company’s capital base and financial stability.
- Increasing Property & Liability Insurance Claims: Insurance claims have fluctuated but rose notably in Q4 2024 ($17.3 million) and remain elevated, which could pressure expense levels.
- Repurchase Activity on Common Stock: The company consistently repurchased shares (e.g., $25.9 million in Q1 2025), which can be positive by returning capital to shareholders but also reduces cash reserves.
- Significant Investment Securities Activity: NMIH frequently buys and sells investment securities, with a net outflow in investing activities ($47.7 million in Q1 2025). This reflects ongoing portfolio management but impacts cash levels.
- Long-Term Debt Levels Remain High: Long-term debt increased from about $396 million in Q1 2023 to $416 million in Q1 2025, maintaining a substantial leverage position that carries interest costs.
- Other Operating Expenses Fluctuate: Other operating expenses spiked in some quarters (e.g., $46.4 million in Q4 2024) compared to earlier periods, potentially affecting overall profitability if the trend persists.
Summary: NMI Holdings has demonstrated steady income growth and improved earnings per share over the last several years, supported by strong cash flows and a healthy equity base. The company’s investment portfolio and insurance operations continue to generate revenue, though rising insurance claims and high operating expenses warrant monitoring. Additionally, sustained leverage through long-term debt adds some financial risk. Overall, the financial trends portray a company with robust profitability and capitalization, balanced by areas of expense and debt caution.
08/22/25 10:58 PMAI Generated. May Contain Errors.