NMIH - NMI Holdings, Inc.
Price:
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--
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CONSENSUS:
Buy
DETAILS
|
PRICE TARGET:
$45.33
DETAILS
HIGH:
$46.00
LOW:
$44.00
MEDIAN:
$46.00
CONSENSUS:
$45.33
UPSIDE:
21.20%
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | |||||||||||||||
| Revenue | 705.6 | 651.0 | 579.0 | 524.5 | 485.6 | 436.2 | 370.1 | 273.6 | 178.6 | 121.9 | 55.5 | 22.2 | 5.6 | 0.3 | 0 |
| Cost of Revenue | 57.6 | 32.3 | 23.4 | (2.5) | 14.8 | 62.1 | 14.8 | 5.7 | 6.0 | 2.4 | 0.7 | 0.5 | 0.0 | 0 | 0 |
| Gross Profit | 647.9 | 618.7 | 555.6 | 527.0 | 470.8 | 374.1 | 355.4 | 267.9 | 172.7 | 119.5 | 54.9 | 21.8 | 5.6 | 0.3 | 0 |
| Operating Expenses | |||||||||||||||
| R&D Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| SG&A Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 2.2 | 0.3 | 0.6 | 0 | 0 | 0 | 0 | 22.9 | 1.2 |
| Other Expenses | 148.1 | 155.3 | 142.9 | 149.7 | 174.1 | 156.0 | 136.5 | 131.7 | 119.3 | 108.1 | 82.7 | 73.0 | 60.7 | 4.9 | 0 |
| Operating Expenses | 148.1 | 155.3 | 142.9 | 149.7 | 174.1 | 156.0 | 138.7 | 131.9 | 119.9 | 108.1 | 82.7 | 73.0 | 60.7 | 27.8 | 1.2 |
| Operating Income | |||||||||||||||
| Operating Income | 499.8 | 463.4 | 412.7 | 377.3 | 296.7 | 218.1 | 216.7 | 136.0 | 52.8 | 11.5 | (27.8) | (51.3) | (55.2) | (27.5) | (1.3) |
| Interest Expense | 28.5 | 36.9 | 32.2 | 32.2 | 31.8 | 24.4 | 12.1 | 15.0 | 13.5 | 14.8 | 2.1 | 0 | 0 | 1.6 | 0.0 |
| Interest Income | 0 | 5 | 2.3 | 0.4 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profitability | |||||||||||||||
| EBITDA | 528.3 | 512.2 | 456.5 | 421.3 | 339.8 | 252.4 | 238.0 | 158.8 | 73.0 | 32.0 | (20.9) | (43.2) | (47.1) | (25.9) | (1.3) |
| EBIT | 528.3 | 500.3 | 444.9 | 409.5 | 328.5 | 242.5 | 228.7 | 150.9 | 66.3 | 26.3 | (25.7) | (51.3) | (55.2) | (25.9) | (1.3) |
| Income Before Tax | 499.8 | 463.4 | 412.7 | 377.3 | 296.7 | 218.1 | 216.7 | 136.0 | 52.8 | 11.5 | (27.8) | (51.3) | (55.2) | (27.5) | (1.3) |
| Income Tax Expense | 110.9 | 103.3 | 90.6 | 84.4 | 65.6 | 46.5 | 44.7 | 28.0 | 30.7 | (52.5) | 0 | (2.4) | 0 | 0 | 0 |
| Net Income | 388.9 | 360.1 | 322.1 | 292.9 | 231.1 | 171.6 | 172.0 | 107.9 | 22.1 | 64.0 | (27.8) | (48.9) | (55.2) | (27.5) | (1.3) |
| Per Share Data | |||||||||||||||
| EPS (Basic) | 5.01 | 4.51 | 3.91 | 3.45 | 2.70 | 2.20 | 2.54 | 1.66 | 0.37 | 1.11 | -0.47 | -0.84 | -0.99 | -0.73 | -0.02 |
| EPS (Diluted) | 4.92 | 4.43 | 3.84 | 3.39 | 2.65 | 2.13 | 2.47 | 1.60 | 0.35 | 1.08 | -0.47 | -0.84 | -0.99 | -0.73 | -0.02 |
| Shares Outstanding | 77.6 | 79.8 | 82.4 | 84.9 | 85.6 | 78.0 | 67.6 | 65.0 | 59.8 | 59.1 | 58.7 | 58.2 | 56.0 | 37.9 | 55.6 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Assets | ||||||||||
| Cash & Cash Equivalents | 43.9 | 54.2 | 95.4 | 42.2 | 73.5 | 121.4 | 38.4 | 23.9 | 19.2 | 47.7 |
| Short-Term Investments | 404.4 | 0 | 0 | 0 | 2,085.9 | 0 | 0 | 0 | 0 | 0 |
| Net Receivables | 152.1 | 115.1 | 104.0 | 91.3 | 92.6 | 0 | 0 | 0 | 0 | 0 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Assets | 0 | (115.1) | (104.0) | (91.3) | 3.2 | 0 | 0 | 0 | 0 | 0 |
| Total Current Assets | 1,000.7 | 54.2 | 95.4 | 42.2 | 2,344.4 | 121.4 | 38.4 | 23.9 | 19.2 | 47.7 |
| Non-Current Assets | ||||||||||
| Property, Plant & Equipment | 21.7 | 33.9 | 39.4 | 42.3 | 32.0 | 34.3 | 32.5 | 24.8 | 22.8 | 20.4 |
| Goodwill | 3.2 | 3.2 | 3.2 | 3.2 | 3.2 | 3.2 | 3.2 | 3.2 | 3.2 | 3.2 |
| Intangible Assets | 64.8 | 64.7 | 63.3 | 59.0 | 60.0 | 62.6 | 60.4 | 47.2 | 38.3 | 30.5 |
| Long-Term Investments | 2,732.6 | 2,723.5 | 2,371.0 | 2,099.4 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 18.1 | 470.4 | 368.2 | 269.9 | 10.9 | 1,945.2 | 1,230.3 | 992.9 | 811.3 | 738.0 |
| Total Non-Current Assets | 2,840.4 | 3,295.8 | 2,845.2 | 2,473.8 | 106.2 | 2,045.3 | 1,326.4 | 1,068.2 | 875.7 | 792.2 |
| Total Assets | 3,841.1 | 3,350.0 | 2,940.5 | 2,516.0 | 2,450.6 | 2,166.7 | 1,364.8 | 1,092.0 | 894.8 | 839.9 |
| Current Liabilities | ||||||||||
| Account Payables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue | 46.7 | 65.2 | 92.3 | 123.0 | 139.2 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 478.9 | (65.2) | (92.3) | (123.0) | 275.7 | 0 | 0 | 0 | 0 | 0 |
| Total Current Liabilities | 525.5 | 15.6 | 2.5 | 2.5 | 414.9 | 0 | 0 | 0 | 0 | 0 |
| Non-Current Liabilities | ||||||||||
| Long-Term Debt | 417.0 | 415.1 | 397.6 | 396.1 | 394.6 | 393.3 | 145.8 | 146.8 | 143.9 | 144.4 |
| Deferred Tax Liabilities | 478.9 | 0 | 0 | 0 | 164.2 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | (172.4) | 701.8 | 614.4 | 503.8 | (88.9) | 403.8 | 288.6 | 243.8 | 241.9 | 220.0 |
| Total Non-Current Liabilities | 723.6 | 1,116.9 | 1,012.0 | 899.8 | 469.9 | 797.1 | 434.4 | 390.5 | 385.8 | 364.4 |
| Total Liabilities | 1,249.1 | 1,132.5 | 1,014.5 | 902.3 | 884.8 | 797.1 | 434.4 | 390.5 | 385.8 | 364.4 |
| Stockholders' Equity | ||||||||||
| Common Stock | 0.9 | 0.9 | 0.9 | 0.9 | 0.9 | 0.9 | 0.7 | 0.7 | 0.6 | 0.6 |
| Retained Earnings | 1,972.2 | 1,583.3 | 1,223.2 | 901.0 | 608.1 | 377.0 | 205.4 | 33.5 | (74.2) | (96.7) |
| Accumulated Other Comprehensive Income | (46.1) | (124.8) | (139.9) | (204.3) | 1.5 | 53.9 | 17.3 | (14.8) | (2.9) | (5.3) |
| Total Stockholders' Equity | 2,592.0 | 2,217.4 | 1,926.0 | 1,613.7 | 1,565.8 | 1,369.6 | 930.4 | 701.5 | 509.1 | 475.5 |
| Total Liabilities & Equity | 3,841.1 | 3,350.0 | 2,940.5 | 2,516.0 | 2,450.6 | 2,166.7 | 1,364.8 | 1,092.0 | 894.8 | 839.9 |
| Debt Metrics | ||||||||||
| Total Debt | 417.0 | 415.1 | 397.6 | 396.1 | 394.6 | 393.3 | 145.8 | 146.8 | 143.9 | 144.4 |
| Net Debt | 373.1 | 360.9 | 302.2 | 353.8 | 321.1 | 271.9 | 107.3 | 122.9 | 124.7 | 96.6 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||||
| Net Income | 388.9 | 360.1 | 322.1 | 292.9 | 231.1 | 171.6 | 172.0 | 107.9 | 22.1 | 65.8 |
| Depreciation & Amortization | 7.2 | 10.9 | 11.5 | 11.9 | 11.2 | 9.9 | 10.3 | 7.8 | 6.7 | 5.7 |
| Stock-Based Compensation | 20.2 | 19.8 | 16.9 | 15.4 | 16.7 | 11.1 | 13.0 | 12.6 | 9.5 | 6.9 |
| Change in Working Capital | (70.7) | (87.0) | (101.0) | (97.2) | (6.1) | 9.6 | (23.7) | (14.6) | (8.5) | 42.6 |
| Other Non-Cash Items | 2.0 | 9.2 | 2.5 | 6.0 | 7.3 | 3.9 | 36.6 | 6.2 | 7.0 | 5.8 |
| Operating Cash Flow | 419.3 | 393.6 | 342.7 | 313.4 | 325.7 | 252.6 | 208.2 | 145.9 | 67.8 | 71.9 |
| Investing Activities | ||||||||||
| Capital Expenditure | (6.8) | (6.9) | (9.4) | (10.6) | (12.2) | (12.2) | (10.0) | (8.1) | (8.5) | (11.5) |
| Acquisitions | 0 | 0 | 0 | 0 | 12.2 | 12.2 | 0 | 8.1 | 8.5 | 11.5 |
| Purchases of Investments | (899.0) | (651.7) | (654.8) | (547.5) | (525.0) | (1,108.2) | 0 | (614.3) | (350.3) | (313.6) |
| Sales/Maturities of Investments | 589.4 | 319.3 | 464.2 | 268.3 | 163.1 | 490.8 | 0 | 401.7 | 265.7 | 245.3 |
| Other Investing Activities | 0 | 0 | 0 | 0 | (12.2) | (12.2) | (184.4) | (8.1) | (8.5) | (11.5) |
| Investing Cash Flow | (316.5) | (339.3) | (200) | (289.8) | (374.2) | (629.6) | (194.4) | (220.7) | (93.1) | (79.8) |
| Financing Activities | ||||||||||
| Net Debt Issuance | 0 | 6.8 | 0 | 0 | 0 | 252.2 | (1.5) | 1.9 | (1.5) | (1.5) |
| Stock Repurchased | (105.1) | (97.6) | (91.6) | (56.6) | 0 | 0 | (18.2) | 0 | (8.6) | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing Activities | (11.0) | (10.2) | (9.4) | (5.2) | (6.5) | (18.0) | 21.7 | 88.7 | (1.7) | (0.8) |
| Financing Cash Flow | (113.2) | (96.7) | (90.4) | (55.8) | (1.8) | 462.8 | 2 | 80.9 | (3.2) | (1.7) |
| Cash Position | ||||||||||
| Net Change in Cash | (10.4) | (42.4) | 52.3 | (32.2) | (50.3) | 85.8 | 15.8 | 6.1 | (28.6) | (9.6) |
| Cash at Beginning | 54.3 | 96.7 | 44.4 | 76.6 | 126.9 | 41.1 | 25.3 | 19.2 | 47.7 | 57.3 |
| Cash at End | 43.9 | 54.3 | 96.7 | 44.4 | 76.6 | 126.9 | 41.1 | 25.3 | 19.2 | 47.7 |
| Free Cash Flow | 412.5 | 386.7 | 333.3 | 302.8 | 313.5 | 240.4 | 198.2 | 137.8 | 59.3 | 60.5 |
| Key Metrics | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||||
| Revenue | 705.6 | 651.0 | 579.0 | 524.5 | 485.6 | 436.2 | 370.1 | 273.6 | 178.6 | 121.9 | 55.5 | 22.2 | 5.6 | 0.3 | 0 |
| Gross Profit | 647.9 | 618.7 | 555.6 | 527.0 | 470.8 | 374.1 | 355.4 | 267.9 | 172.7 | 119.5 | 54.9 | 21.8 | 5.6 | 0.3 | 0 |
| Operating Income | 499.8 | 463.4 | 412.7 | 377.3 | 296.7 | 218.1 | 216.7 | 136.0 | 52.8 | 11.5 | (27.8) | (51.3) | (55.2) | (27.5) | (1.3) |
| Net Income | 388.9 | 360.1 | 322.1 | 292.9 | 231.1 | 171.6 | 172.0 | 107.9 | 22.1 | 64.0 | (27.8) | (48.9) | (55.2) | (27.5) | (1.3) |
| EPS (Diluted) | 4.92 | 4.43 | 3.84 | 3.39 | 2.65 | 2.13 | 2.47 | 1.60 | 0.35 | 1.08 | -0.47 | -0.84 | -0.99 | -0.73 | -0.02 |
| Balance Sheet | |||||||||||||||
| Cash & Equivalents | 43.9 | 54.2 | 95.4 | 42.2 | 73.5 | 121.4 | 38.4 | 23.9 | 19.2 | 47.7 | |||||
| Total Assets | 3,841.1 | 3,350.0 | 2,940.5 | 2,516.0 | 2,450.6 | 2,166.7 | 1,364.8 | 1,092.0 | 894.8 | 839.9 | |||||
| Total Debt | 417.0 | 415.1 | 397.6 | 396.1 | 394.6 | 393.3 | 145.8 | 146.8 | 143.9 | 144.4 | |||||
| Stockholders' Equity | 2,592.0 | 2,217.4 | 1,926.0 | 1,613.7 | 1,565.8 | 1,369.6 | 930.4 | 701.5 | 509.1 | 475.5 | |||||
| Cash Flow | |||||||||||||||
| Operating Cash Flow | 419.3 | 393.6 | 342.7 | 313.4 | 325.7 | 252.6 | 208.2 | 145.9 | 67.8 | 71.9 | |||||
| Capital Expenditure | (6.8) | (6.9) | (9.4) | (10.6) | (12.2) | (12.2) | (10.0) | (8.1) | (8.5) | (11.5) | |||||
| Free Cash Flow | 412.5 | 386.7 | 333.3 | 302.8 | 313.5 | 240.4 | 198.2 | 137.8 | 59.3 | 60.5 | |||||