NMI Holdings, Inc. logo NMIH - NMI Holdings, Inc.

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
0
BUY 16
HOLD 4
SELL 0
STRONG
SELL
0
| PRICE TARGET: $45.33 DETAILS
HIGH: $46.00
LOW: $44.00
MEDIAN: $46.00
CONSENSUS: $45.33
UPSIDE: 21.20%
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1 2015 Q4 2015 Q3 2015 Q2 2015 Q1 2014 Q4 2014 Q3 2014 Q2 2014 Q1 2013 Q4 2013 Q3 2013 Q2 2013 Q1 2012 Q4 2012 Q3 2012 Q2 2012 Q1
Revenue
Revenue 183.5 180.5 178.7 173.8 173.2 166.5 166.1 162.1 156.3 151.4 148.2 142.7 136.8 133.1 130.6 133.2 127.5 125.2 124.0 121.4 115.0 108.5 107.3 106.7 113.6 102.3 102.7 89.5 75.6 79.8 66.3 67.6 60.0 51.1 48.5 42.2 36.9 34.9 34.7 29.4 22.9 19.3 15.0 10.8 10.4 6.8 6.6 4.5 4.2 2.2 2.2 0.7 0.5 0.3 0.0 0 0
Cost of Revenue 20.7 21.2 18.7 13.6 4.6 17.4 10.5 0.5 3.8 8.4 5.1 3.1 6.8 3.6 (3.2) (2.7) (0.2) 0.1 4.0 5.1 5.6 4.0 16.2 35.4 6.4 4.3 3.5 3.3 2.8 2.1 1.1 0.6 1.6 2.4 1.0 1.4 0.6 0.8 0.7 0.5 0.5 0.4 0.2 (0.0) 0.1 0.3 0.0 0.1 0.0 0 0 0 0 0 0 0 0
Gross Profit 162.8 159.3 160.0 160.2 168.7 149.1 155.6 161.7 152.4 143.0 143.1 139.5 130.0 129.5 133.8 135.9 127.7 125.0 120.0 116.3 109.4 104.5 91.1 71.3 107.2 98.0 99.2 86.2 72.8 77.7 65.2 66.9 58.4 48.7 47.5 40.8 36.2 34.1 34.1 29.0 22.4 18.9 14.9 10.8 10.3 6.5 6.6 4.4 4.2 2.2 2.2 0.7 0.5 0.3 0.0 0 0
Operating Expenses
R&D Expenses 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
SG&A Expenses 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1.1 0.7 0 0 0.4 0.0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 11.9 13.8 11.1 10.9 7.6 4.1 0.4
Other Expenses 37.9 38.2 36.3 36.6 37.3 38.2 36.2 43.0 37.9 37.8 35.8 35.5 33.8 34.7 35.2 38.8 41.0 46.9 42.6 42.6 42.0 42.9 41.8 35.2 34.3 35.2 35.3 34.9 33.8 32.4 33.4 34.6 31.9 31.7 28.0 31.3 29.5 27.1 27.8 26.9 26.3 23.7 19.7 20.9 18.4 17.3 17.8 18.6 19.3 15.3 4.2 3.3 1.3 2.2 0.5 2.1 0.0
Operating Expenses 37.9 38.2 36.3 36.6 37.3 38.2 36.2 43.0 37.9 37.8 35.8 35.5 33.8 34.7 35.2 38.8 41.0 46.9 42.6 42.6 42.0 42.9 41.8 36.3 35.0 35.2 35.3 35.3 33.9 32.4 33.4 34.6 31.9 31.7 28.0 31.3 29.5 27.1 27.8 26.9 26.3 23.7 19.7 20.9 18.4 17.3 17.8 18.6 19.3 15.3 16.0 17.0 12.4 13.1 8.1 6.2 0.4
Operating Income
Operating Income 124.9 121.1 123.7 123.6 131.4 110.9 119.3 118.6 114.6 105.2 107.3 104.0 96.2 94.8 98.6 97.2 86.7 78.2 77.5 73.7 67.5 61.6 49.4 35.0 72.2 62.8 63.9 51.0 39.0 45.2 31.8 32.3 26.5 17.1 19.5 9.5 6.7 7.1 6.3 2.0 (3.9) (4.8) (4.8) (10.1) (8.1) (10.8) (11.3) (14.2) (15.1) (13.1) (13.9) (16.3) (12.0) (12.8) (8.1) 0 0
Interest Expense 7.1 7.1 7.1 7.1 7.1 7.1 7.1 14.7 8.0 8.1 8.1 8.0 8.0 8.0 8.0 8.1 8.0 8.0 7.9 7.9 7.9 7.9 7.8 5.9 2.7 3.0 3.0 3.1 3.1 3.0 3.0 5.6 3.4 3.4 3.4 3.3 3.5 3.8 3.7 3.7 3.6 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1.6 0
Interest Income 0 0 0.9 1.1 0.9 0 0 1.8 1.1 0 0 0.4 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Profitability
EBITDA 132.1 128.3 133.6 133.6 141.4 120.9 129.4 136.3 125.6 116.3 118.2 114.9 107.0 105.7 109.6 108.2 97.9 89.2 88.3 84.2 78.0 72.1 59.6 43.4 77.3 68.4 69.2 56.3 44.1 50.3 36.8 39.9 31.8 22.2 24.6 14.4 11.7 12.2 12.0 7.0 0.7 (3.6) (2.8) (9.5) (7.0) (9.4) (8.9) (11.8) (13.1) (10.4) (11.2) (13.6) (11.9) (12.8) 0 0 0
EBIT 132.1 128.3 130.8 130.7 138.5 118.0 126.4 133.3 122.6 113.2 115.4 112.1 104.2 102.8 106.6 105.2 94.8 86.2 85.4 81.6 75.4 69.5 57.2 40.9 74.9 65.8 66.9 54.0 42.0 48.3 34.8 37.9 29.9 20.4 22.8 12.8 10.2 10.8 10.0 5.7 (0.3) (4.8) (4.8) (10.1) (8.1) (10.8) (11.3) (14.2) (15.1) (13.1) (13.9) (16.3) (12.0) (12.8) (8.1) (4.6) (0.4)
Income Before Tax 124.9 121.1 123.7 123.6 131.4 110.9 119.3 118.6 114.6 105.2 107.3 104.0 96.2 94.8 98.6 97.2 86.7 78.2 77.5 73.7 67.5 61.6 49.4 35.0 72.2 62.8 63.9 51.0 39.0 45.2 31.8 32.3 26.5 17.1 19.5 9.5 6.7 7.1 6.3 2.0 (3.9) (4.8) (4.8) (10.1) (8.1) (10.8) (11.3) (14.2) (15.1) (13.1) (13.9) (16.3) (12.0) (12.8) (8.1) (6.2) (0.4)
Income Tax Expense 25.6 26.9 27.7 27.4 28.8 24.7 26.5 26.6 25.5 21.8 23.3 23.8 21.7 21.8 21.8 21.7 19.1 17.6 17.3 16.1 14.6 13.3 11.2 8.1 13.9 12.6 14.2 11.9 6.1 9.7 7.0 7.1 4.2 18.8 7.2 3.5 1.2 (54.5) 0.1 0 0 0 0 0.2 (0.2) (0.8) (0.3) (1.3) 0 0 0 0 0 0 0 0 0
Net Income 99.3 94.2 96.0 96.2 102.6 86.2 92.8 92.1 89.0 83.4 84.0 80.3 74.5 72.9 76.8 75.4 67.7 60.5 60.2 57.5 52.9 48.3 38.2 26.8 58.3 50.2 49.8 39.1 32.9 35.5 24.8 25.2 22.4 (1.8) 12.3 6.0 5.5 61.6 6.2 2.0 (3.9) (4.8) (4.8) (10.4) (7.8) (10.0) (11.0) (12.9) (15.1) (13.1) (13.9) (16.3) (12.0) (12.8) (8.1) (6.2) (0.4)
Per Share Data
EPS (Basic) 1.30 1.23 1.24 1.23 1.31 1.09 1.17 1.15 1.10 1.03 1.02 0.97 0.89 0.87 0.91 0.88 0.79 0.71 0.70 0.67 0.62 0.57 0.45 0.36 0.85 0.74 0.73 0.58 0.49 0.54 0.38 0.38 0.36 -0.03 0.21 0.10 0.09 1.04 0.10 0.03 -0.07 -0.08 -0.08 -0.18 -0.13 -0.17 -0.19 -0.22 -0.26 -0.23 -0.25 -0.29 -0.22 -0.23 -0.15 -0.11 -0.01
EPS (Diluted) 1.28 1.20 1.22 1.21 1.28 1.07 1.15 1.13 1.08 1.01 1.00 0.95 0.88 0.86 0.90 0.86 0.77 0.69 0.69 0.65 0.61 0.56 0.45 0.36 0.74 0.71 0.69 0.56 0.48 0.46 0.36 0.37 0.34 -0.03 0.20 0.10 0.09 1.01 0.10 0.03 -0.07 -0.08 -0.08 -0.18 -0.13 -0.17 -0.19 -0.22 -0.26 -0.23 -0.25 -0.29 -0.22 -0.22 -0.15 -0.11 -0.01
Shares Outstanding 76.2 76.7 77.4 78.0 78.4 79.0 79.5 80.1 80.7 81.0 82.1 83.0 83.6 83.6 84.4 85.7 86.0 85.8 85.7 85.6 85.3 85.0 84.8 73.6 68.6 68.1 67.8 67.6 66.7 66.3 65.9 65.7 62.1 60.2 59.9 59.8 59.2 59.1 59.1 59.1 58.9 58.7 58.7 57.5 58.5 58.3 58.4 58.3 58.1 57.2 55.6 55.6 55.5 55.6 55.5 57.7 55.6
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1
Current Assets
Cash & Cash Equivalents 70,679 43.9 130.4 84.0 74.1 54.2 133.2 61.5 138.6 95.4 174.2 71.1 80.9 42.2 123.7 70.2 127.8 73.5 93.7 63.9 110.6 121.4 188.6 513.4 107.3 38.4 43.0 34.3 38.3 23.9 18.2 16.5 101.9 19.2 20.7 20.0 12.5 47.7 44.5 46.8 73.3
Short-Term Investments 0 404.4 375.4 377.1 278.7 302.1 300.7 257.6 228.7 0 272.1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Net Receivables 86,861 152.1 146.8 140.7 139.2 137.4 129.3 103.8 103.2 104.0 99.3 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Inventory 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Current Assets 0 0 0 0 0.1 0.1 0.1 (519.1) (490.7) (104.0) (700.0) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Total Current Assets 157,540 1,000.7 974.8 924.0 814.3 816.0 798.6 139.1 215.1 95.4 0 71.1 80.9 42.2 123.7 70.2 127.8 73.5 93.7 63.9 110.6 121.4 188.6 513.4 107.3 38.4 43.0 34.3 38.3 23.9 18.2 16.5 101.9 19.2 20.7 20.0 12.5 47.7 44.5 46.8 73.3
Non-Current Assets
Property, Plant & Equipment 0 21.7 22.8 23.8 25.0 25.7 27.3 28.8 30.3 39.4 32.0 32.3 31.8 42.3 42.9 43.1 43.7 34.6 32.1 31.4 31.3 34.3 28.1 26.1 25.7 32.5 33.2 33.1 32.8 24.8 22.9 22.8 22.9 22.8 21.8 21.5 21.2 20.4 19.9 19.7 17.2
Goodwill 3,634 3.2 0 0 0 3.2 0 0 0 3.2 0 0 0 3.2 0 0 0 3.2 0 0 0 3.2 0 0 0 3.2 0 0 0 3.2 0 0 0 3.2 0 0 0 3.2 0 0 0
Intangible Assets 0 64.8 67.8 67.8 67.6 64.7 67.4 3.6 3.6 63.3 0 64.8 63.6 59.0 63.1 63.4 63.4 60.0 65.0 65.8 65.9 62.6 66.8 67.3 66.3 60.4 60.3 56.2 52.5 47.2 48.1 46.0 43.7 38.3 39.7 37.8 35.8 30.5 32.5 28.8 24.6
Long-Term Investments 3,174.1 2,732.6 2,640.2 2,552.1 2,530.5 2,421.4 2,407.6 2,521.0 2,393.5 2,371.0 2,197.7 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Assets (3,174.1) 18.1 21.6 23.5 18.8 18.9 19.2 548.4 578.6 368.2 (2,233.3) 2,521.7 2,457.5 2,369.3 2,174.2 2,215.6 2,189.0 2,279.2 2,207.6 2,144.7 1,980.0 1,945.2 1,798.2 1,440.2 1,188.6 1,230.3 1,165.0 1,096.7 1,023.9 992.9 963.3 931.2 819.2 811.3 804.4 783.6 770.7 738.0 695.2 621.1 569.2
Total Non-Current Assets 3,634 2,840.4 2,752.3 2,667.1 2,641.9 2,533.9 2,521.5 3,101.9 3,006.1 2,845.2 0 2,618.8 2,552.9 2,473.8 2,280.2 2,322.0 2,296.1 2,377.1 2,304.6 2,242.0 2,077.2 2,045.3 1,893.2 1,533.5 1,280.5 1,326.4 1,258.5 1,186.1 1,109.2 1,068.2 1,034.3 1,000.0 885.7 875.7 865.9 843.0 827.6 792.2 747.6 669.6 611.0
Total Assets 3,909,638 3,841.1 3,727.2 3,591.1 3,456.2 3,350.0 3,320.1 3,101.9 3,006.1 2,940.5 2,762.0 2,689.8 2,633.8 2,516.0 2,403.8 2,392.3 2,423.9 2,450.6 2,398.3 2,305.9 2,187.8 2,166.7 2,081.8 2,046.9 1,387.8 1,364.8 1,301.5 1,220.4 1,147.5 1,092.0 1,052.5 1,016.5 987.6 894.8 886.6 863.0 840.2 839.9 792.2 716.4 684.3
Current Liabilities
Account Payables 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Short-Term Debt 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Deferred Revenue 43.7 46.7 49.8 54.2 59.2 65.2 71.6 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Current Liabilities 400,214.3 478.9 463.3 441.4 418.9 386.2 380.9 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Total Current Liabilities 400,258 525.5 513.1 495.5 478.1 451.4 452.5 0 0 2.5 0 2.5 9.8 2.5 9.8 2.5 9.8 2.5 9.8 2.5 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Non-Current Liabilities
Long-Term Debt 417.5 417.0 416.5 416.1 415.6 415.1 414.7 414.2 398.0 397.6 397.2 396.8 396.4 396.1 395.7 395.3 395.0 394.6 394.3 393.9 393.6 393.3 393.0 392.8 145.5 145.8 146.0 146.3 146.5 146.8 147.0 147.3 143.9 143.9 144.0 144.0 144.0 144.4 144.2 144.1 144.0
Deferred Tax Liabilities 491,879 478.9 463.3 441.4 418.9 386.2 380.9 348.3 322.7 0 257.2 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Liabilities 385,069 (172.4) (180.6) (182.0) (178.0) (120.2) (123.1) 266.4 279.2 614.4 (654.4) 541.6 520.8 503.8 472.5 469.4 484.1 487.7 478.0 449.5 413.9 403.8 381.3 397.1 267.4 288.6 282.0 261.8 249.1 243.8 245.0 239.6 241.8 241.9 231.6 224.0 212.2 220.0 217.7 149.9 130.3
Total Non-Current Liabilities 876,948 723.6 699.3 675.4 656.5 681.1 672.5 1,029.0 999.9 1,012.0 0 938.4 917.3 899.8 868.2 864.7 879.1 882.3 872.3 843.5 807.5 797.1 774.3 789.9 412.9 434.4 428.0 408.0 395.6 390.5 392.0 386.8 385.6 385.8 375.6 368.0 356.3 364.4 361.9 294.0 274.3
Total Liabilities 1,277,206 1,249.1 1,212.3 1,171.0 1,134.6 1,132.5 1,124.9 1,056.3 1,027.7 1,014.5 971.1 940.9 927.1 902.3 878.0 867.2 888.9 884.8 882.1 846.0 807.5 797.1 774.3 789.9 412.9 434.4 428.0 408.0 395.6 390.5 392.0 386.8 385.6 385.8 375.6 368.0 356.3 364.4 361.9 294.0 274.3
Stockholders' Equity
Common Stock 890 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.8 0.8 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6
Retained Earnings 2,071,515 1,972.2 1,878.0 1,782.0 1,685.8 1,583.3 1,497.1 1,404.3 1,312.2 1,223.2 1,139.7 1,055.8 975.5 901.0 828.1 751.3 675.8 608.1 547.6 487.4 429.9 377.0 328.7 290.6 263.7 205.4 155.2 105.5 66.4 33.5 (2.0) (26.8) (52.1) (74.2) (72.4) (84.7) (90.7) (96.7) (156.4) (162.6) (164.6)
Accumulated Other Comprehensive Income (68,160) (46.1) (53.7) (72.8) (94.0) (124.8) (82.0) (151.4) (149.8) (139.9) (213.6) (187.3) (171.8) (204.3) (221.3) (161.3) (97.3) 1.5 19.4 27.5 8.7 53.9 47.1 37.7 4.5 17.3 19.2 14.1 0.2 (14.8) (16.3) (15.0) (13.5) (2.9) (0.6) (1.4) (4.1) (5.3) 11.0 11.1 2.5
Total Stockholders' Equity 2,632,432 2,592.0 2,514.9 2,420.1 2,321.6 2,217.4 2,195.2 2,045.6 1,978.4 1,926.0 1,791.0 1,749.0 1,706.7 1,613.7 1,525.9 1,525.1 1,535.0 1,565.8 1,516.2 1,459.9 1,380.3 1,369.6 1,307.6 1,257.0 974.9 930.4 873.5 812.4 751.9 701.5 660.5 629.6 601.9 509.1 511.0 495.0 483.9 475.5 430.3 422.4 410.1
Total Liabilities & Equity 3,909,638 3,841.1 3,727.2 3,591.1 3,456.2 3,350.0 3,320.1 3,101.9 3,006.1 2,940.5 2,762.0 2,689.8 2,633.8 2,516.0 2,403.8 2,392.3 2,423.9 2,450.6 2,398.3 2,305.9 2,187.8 2,166.7 2,081.8 2,046.9 1,387.8 1,364.8 1,301.5 1,220.4 1,147.5 1,092.0 1,052.5 1,016.5 987.6 894.8 886.6 863.0 840.2 839.9 792.2 716.4 684.3
Debt Metrics
Total Debt 417.5 417.0 416.5 416.1 415.6 415.1 414.7 414.2 398.0 397.6 397.2 396.8 396.4 396.1 395.7 395.3 395.0 394.6 394.3 393.9 393.6 393.3 393.0 392.8 145.5 145.8 146.0 146.3 146.5 146.8 147.0 147.3 143.9 143.9 144.0 144.0 144.0 144.4 144.2 144.1 144.0
Net Debt (70,261.5) 373.1 286.1 332.1 341.5 360.9 281.5 352.8 259.4 302.2 223.0 325.7 315.5 353.8 272.0 325.1 267.1 321.1 300.6 330.0 283.0 271.9 204.3 (120.6) 38.2 107.3 103.1 111.9 108.2 122.9 128.8 130.8 42.0 124.7 123.3 124.0 131.5 96.6 99.7 97.3 70.7
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1
Operating Activities
Net Income 99.3 94.2 96.0 96.2 102.6 86.2 92.8 92.1 89.0 83.4 84.0 80.3 74.5 72.9 76.8 75.4 67.7 60.5 60.2 57.5 52.9 48.3 38.2 26.8 58.3 50.2 49.8 39.1 32.9 35.5 24.8 25.2 22.4 (1.8) 12.3 6.0 5.5 61.6 6.2 2.0 (3.9)
Depreciation & Amortization 2.5 2.7 2.8 2.8 2.9 1.9 3.0 3.5 3.0 3.0 2.9 2.8 2.8 2.9 2.9 3.0 3.1 3.0 3.4 3.1 3.1 0 2.5 5.5 2.7 2.9 2.3 2.2 2.1 2.0 2.0 2.0 1.9 1.8 1.8 1.6 1.5 1.4 2.0 1.0 1.3
Stock-Based Compensation 0 6.2 4.5 5.0 4.5 7.1 4.4 4.1 4.1 6.0 3.7 3.7 3.5 3.5 3.9 3.9 4.2 6.6 3.7 3.4 3.0 0 3.0 2.7 2.6 3.2 3.4 3.5 3.0 3.8 3.0 3.0 2.8 2.6 2.7 2.3 1.9 1.9 1.8 1.7 1.4
Change in Working Capital (9.3) (54.1) 9.0 7.5 (33.1) (76.8) 14.5 (15.3) (9.3) (88.2) 9.9 (9.4) (13.3) (71.6) 1.2 (11.5) (15.4) (44.7) (0.9) 0.8 (0.1) (32.5) 30.6 34.3 (0.2) (0.0) (16.7) 0.1 (22.0) (1.0) (3.8) 0.5 (10.3) (0.5) 2.3 1.7 (12.0) 7.2 13.1 20.9 1.3
Other Non-Cash Items 23.6 (0.9) (1.1) 0.1 (0.2) 0.8 (0.4) 7.3 0.9 1.0 (1.6) 1.6 1.5 1.3 2.0 1.0 1.7 1.4 32.4 32.3 26.6 21.8 2.3 10.1 (15.5) 12.3 (0.6) 2.4 6.2 (3.0) 6.1 2.7 0.4 4.2 1.2 5.0 (0.1) 2.5 1.5 1.1 0.6
Operating Cash Flow 116.1 61.7 128.0 128.4 101.2 35.8 128.4 117.8 111.6 30.1 120.8 101.9 89.8 31.8 107.8 93.5 80.3 44.3 98.8 97.1 85.5 37.6 87.6 79.5 47.9 68.6 52.2 59.0 28.3 46.5 38.0 40.2 21.1 26.0 27.2 16.7 (2.1) 19.7 24.6 26.8 0.7
Investing Activities
Capital Expenditure (1.1) (1.6) (1.8) (1.6) (1.7) (1.4) 4.0 (1.8) (2.2) (1.5) (3.3) (3.0) (1.5) (2.8) (2.4) (3.3) (2.0) (3.1) (3.1) (3.6) (2.5) (3.1) (4.5) (3.1) (1.5) (2.5) (3.0) (2.7) (1.8) (2.7) (2.1) (1.9) (1.4) (1.6) (2.0) (1.8) (3.1) (3.0) (2.3) (3.9) (2.3)
Acquisitions 0 0 0 0 0 0 0 0 0 80.6 3.3 0 1.5 (0.5) 0 0 2.0 5.6 0 0 0 0 0 0 0 0 0 0 1.8 8.1 0 0 1.4 8.5 0 0 3.1 11.5 0 0 2.3
Purchases of Investments (299.7) (351.5) (202.5) (203.6) (141.5) (153.4) (160.0) (242.3) (96.0) (149.6) (128.1) (136.5) (240.6) (160.7) (156.5) (163.8) (66.5) (123.4) 0 0 0 (163.8) (451.1) 0 0 0 (137.5) (118.9) (120.6) (135.2) (176.1) (212.0) (91.0) (72.1) (82.6) (96.7) (98.9) (62.6) (76.4) (103.3) (71.3)
Sales/Maturities of Investments 252.9 235.5 147.3 111.1 95.5 68.7 120.7 69.6 60.4 69.0 133.0 53.8 208.4 55.9 124.6 40.7 47.1 62.9 0 0 0 58.1 49.0 0 0 0 98.1 58.6 110.4 98.2 139.4 88.3 75.8 47.2 58.2 89.6 70.7 49.5 52.1 54.3 89.4
Other Investing Activities 0 0 0 0 0 0 (5.5) 0 0 (80.6) (3.3) 0 (1.5) 0.5 0 0 (2.0) (5.6) (66.8) (140.6) (94.0) 0 0 (136.9) 27.3 (74.6) (39.3) (60.3) (1.8) (8.1) (36.7) (123.7) (1.4) (8.5) (24.4) (7.1) (3.1) (11.5) (24.3) (49.1) (2.3)
Investing Cash Flow (47.9) (117.7) (57.0) (94.1) (47.7) (86.1) (40.8) (174.6) (37.8) (82.1) 1.6 (85.7) (33.8) (107.7) (34.4) (126.4) (21.4) (63.7) (69.8) (144.2) (96.4) (108.7) (406.6) (140.1) 25.8 (77.1) (42.3) (63.0) (12.0) (39.7) (38.7) (125.6) (16.6) (26.5) (26.4) (8.9) (31.3) (16.1) (26.6) (52.9) 15.8
Financing Activities
Net Debt Issuance 0 0 0 0 0 0 (0.1) 6.9 0 0 0 0 0 0 0 0 0 0 0 0 0 (0.2) 0 (147.4) (0.4) (0.4) (0.4) (0.4) (0.4) (0.4) (0.4) 3 (0.4) (0.4) (0.4) (0.4) (0.4) (0.4) (0.4) (0.4) (0.4)
Stock Repurchased (27.7) (30.6) (24.6) (24.0) (25.9) (28.7) (16.9) (26.8) (25.2) (31.6) (19.3) (26.0) (14.8) (5.4) (20.8) (25.4) (5) 0 (0.1) (0.4) (4.5) 0 0 (0.3) (7.1) (3.9) (0.8) (1.1) (12.5) 0.4 (3.6) 0 0 0 (0.2) (0.1) (3.5) 0 0 0 0
Dividends Paid 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Financing Activities (17.6) 0 (0.0) (0.4) (10.4) (0.0) (0.0) (0.3) (5.6) 3.8 0.0 0.0 (2.6) (0.2) 0.8 (0.3) 0.3 (1.4) 0.3 0.2 4.1 (1.5) (1.7) 613.9 2.6 8.0 0.6 0.3 (1.5) 0.7 2.8 (4.3) (0.7) (4.8) 0.3 0.1 (1.5) (0.1) (0.0) (0.1) (0.6)
Financing Cash Flow (41.4) (30.6) (24.6) (24.4) (33.6) (28.7) (16.9) (20.3) (30.8) (27.8) (19.2) (26.0) (17.4) (5.5) (20) (25.6) (4.7) (1.3) 0.2 (0.3) (0.4) 3.8 (2.3) 466.2 (4.9) 3.7 0.2 (0.1) (1.8) 0.3 2.5 (0.0) 78.1 (1.0) (0.1) (0.3) (1.9) (0.4) (0.4) (0.4) (0.5)
Cash Position
Net Change in Cash 26.7 (86.5) 46.4 9.8 19.9 (79.0) 70.7 (77.1) 43.0 (79.8) 103.1 (9.8) 38.7 (81.4) 53.4 (58.5) 54.3 (20.6) 29.2 (47.4) (11.4) (67.3) (321.3) 405.6 68.7 (4.8) 10.2 (4.0) 14.5 7.1 1.7 (85.4) 82.7 (1.5) 0.7 7.5 (35.2) 3.2 (2.3) (26.5) 16.0
Cash at Beginning 43.9 130.4 84.0 74.2 54.3 133.3 62.6 139.7 96.7 176.5 73.3 83.1 44.4 125.8 72.4 130.9 76.6 97.3 68.1 115.5 126.9 194.2 515.5 109.8 41.1 45.9 35.7 39.8 25.3 18.2 16.5 101.9 19.2 20.7 20.0 12.5 47.7 44.5 46.8 73.3 57.3
Cash at End 70.7 43.9 130.4 84.0 74.2 54.3 133.3 62.6 139.7 96.7 176.5 73.3 83.1 44.4 125.8 72.4 130.9 76.6 97.3 68.1 115.5 126.9 194.2 515.5 109.8 41.1 45.9 35.7 39.8 25.3 18.2 16.5 101.9 19.2 20.7 20.0 12.5 47.7 44.5 46.8 73.3
Free Cash Flow 115.0 60.1 126.3 126.7 99.4 34.4 132.4 115.9 109.4 28.6 117.5 98.9 88.3 29.0 105.3 90.2 78.3 41.2 95.8 93.5 83.0 34.6 83.2 76.4 46.4 66.1 49.3 56.3 26.5 43.8 35.9 38.3 19.8 24.3 25.2 14.9 (5.2) 16.7 22.4 23.0 (1.6)
Key Metrics 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1 2015 Q4 2015 Q3 2015 Q2 2015 Q1 2014 Q4 2014 Q3 2014 Q2 2014 Q1 2013 Q4 2013 Q3 2013 Q2 2013 Q1 2012 Q4 2012 Q3 2012 Q2 2012 Q1
Income Statement
Revenue 183.5 180.5 178.7 173.8 173.2 166.5 166.1 162.1 156.3 151.4 148.2 142.7 136.8 133.1 130.6 133.2 127.5 125.2 124.0 121.4 115.0 108.5 107.3 106.7 113.6 102.3 102.7 89.5 75.6 79.8 66.3 67.6 60.0 51.1 48.5 42.2 36.9 34.9 34.7 29.4 22.9 19.3 15.0 10.8 10.4 6.8 6.6 4.5 4.2 2.2 2.2 0.7 0.5 0.3 0.0 0 0
Gross Profit 162.8 159.3 160.0 160.2 168.7 149.1 155.6 161.7 152.4 143.0 143.1 139.5 130.0 129.5 133.8 135.9 127.7 125.0 120.0 116.3 109.4 104.5 91.1 71.3 107.2 98.0 99.2 86.2 72.8 77.7 65.2 66.9 58.4 48.7 47.5 40.8 36.2 34.1 34.1 29.0 22.4 18.9 14.9 10.8 10.3 6.5 6.6 4.4 4.2 2.2 2.2 0.7 0.5 0.3 0.0 0 0
Operating Income 124.9 121.1 123.7 123.6 131.4 110.9 119.3 118.6 114.6 105.2 107.3 104.0 96.2 94.8 98.6 97.2 86.7 78.2 77.5 73.7 67.5 61.6 49.4 35.0 72.2 62.8 63.9 51.0 39.0 45.2 31.8 32.3 26.5 17.1 19.5 9.5 6.7 7.1 6.3 2.0 (3.9) (4.8) (4.8) (10.1) (8.1) (10.8) (11.3) (14.2) (15.1) (13.1) (13.9) (16.3) (12.0) (12.8) (8.1) 0 0
Net Income 99.3 94.2 96.0 96.2 102.6 86.2 92.8 92.1 89.0 83.4 84.0 80.3 74.5 72.9 76.8 75.4 67.7 60.5 60.2 57.5 52.9 48.3 38.2 26.8 58.3 50.2 49.8 39.1 32.9 35.5 24.8 25.2 22.4 (1.8) 12.3 6.0 5.5 61.6 6.2 2.0 (3.9) (4.8) (4.8) (10.4) (7.8) (10.0) (11.0) (12.9) (15.1) (13.1) (13.9) (16.3) (12.0) (12.8) (8.1) (6.2) (0.4)
EPS (Diluted) 1.28 1.20 1.22 1.21 1.28 1.07 1.15 1.13 1.08 1.01 1.00 0.95 0.88 0.86 0.90 0.86 0.77 0.69 0.69 0.65 0.61 0.56 0.45 0.36 0.74 0.71 0.69 0.56 0.48 0.46 0.36 0.37 0.34 -0.03 0.20 0.10 0.09 1.01 0.10 0.03 -0.07 -0.08 -0.08 -0.18 -0.13 -0.17 -0.19 -0.22 -0.26 -0.23 -0.25 -0.29 -0.22 -0.22 -0.15 -0.11 -0.01
Balance Sheet
Cash & Equivalents 70,679 43.9 130.4 84.0 74.1 54.2 133.2 61.5 138.6 95.4 174.2 71.1 80.9 42.2 123.7 70.2 127.8 73.5 93.7 63.9 110.6 121.4 188.6 513.4 107.3 38.4 43.0 34.3 38.3 23.9 18.2 16.5 101.9 19.2 20.7 20.0 12.5 47.7 44.5 46.8 73.3
Total Assets 3,909,638 3,841.1 3,727.2 3,591.1 3,456.2 3,350.0 3,320.1 3,101.9 3,006.1 2,940.5 2,762.0 2,689.8 2,633.8 2,516.0 2,403.8 2,392.3 2,423.9 2,450.6 2,398.3 2,305.9 2,187.8 2,166.7 2,081.8 2,046.9 1,387.8 1,364.8 1,301.5 1,220.4 1,147.5 1,092.0 1,052.5 1,016.5 987.6 894.8 886.6 863.0 840.2 839.9 792.2 716.4 684.3
Total Debt 417.5 417.0 416.5 416.1 415.6 415.1 414.7 414.2 398.0 397.6 397.2 396.8 396.4 396.1 395.7 395.3 395.0 394.6 394.3 393.9 393.6 393.3 393.0 392.8 145.5 145.8 146.0 146.3 146.5 146.8 147.0 147.3 143.9 143.9 144.0 144.0 144.0 144.4 144.2 144.1 144.0
Stockholders' Equity 2,632,432 2,592.0 2,514.9 2,420.1 2,321.6 2,217.4 2,195.2 2,045.6 1,978.4 1,926.0 1,791.0 1,749.0 1,706.7 1,613.7 1,525.9 1,525.1 1,535.0 1,565.8 1,516.2 1,459.9 1,380.3 1,369.6 1,307.6 1,257.0 974.9 930.4 873.5 812.4 751.9 701.5 660.5 629.6 601.9 509.1 511.0 495.0 483.9 475.5 430.3 422.4 410.1
Cash Flow
Operating Cash Flow 116.1 61.7 128.0 128.4 101.2 35.8 128.4 117.8 111.6 30.1 120.8 101.9 89.8 31.8 107.8 93.5 80.3 44.3 98.8 97.1 85.5 37.6 87.6 79.5 47.9 68.6 52.2 59.0 28.3 46.5 38.0 40.2 21.1 26.0 27.2 16.7 (2.1) 19.7 24.6 26.8 0.7
Capital Expenditure (1.1) (1.6) (1.8) (1.6) (1.7) (1.4) 4.0 (1.8) (2.2) (1.5) (3.3) (3.0) (1.5) (2.8) (2.4) (3.3) (2.0) (3.1) (3.1) (3.6) (2.5) (3.1) (4.5) (3.1) (1.5) (2.5) (3.0) (2.7) (1.8) (2.7) (2.1) (1.9) (1.4) (1.6) (2.0) (1.8) (3.1) (3.0) (2.3) (3.9) (2.3)
Free Cash Flow 115.0 60.1 126.3 126.7 99.4 34.4 132.4 115.9 109.4 28.6 117.5 98.9 88.3 29.0 105.3 90.2 78.3 41.2 95.8 93.5 83.0 34.6 83.2 76.4 46.4 66.1 49.3 56.3 26.5 43.8 35.9 38.3 19.8 24.3 25.2 14.9 (5.2) 16.7 22.4 23.0 (1.6)