NMI Holdings, Inc. (NMIH) AI Stock Analysis

NMI Holdings, Inc. operates in the U.S. mortgage insurance industry, offering private mortgage guaranty insurance services designed to mitigate risk for lenders and facilitate mortgage financing for homeowners. Established in 2011 and based in Emeryville, California, the company also provides outsourced loan review services to mortgage loan originators. Its diverse customer base includes national and regional mortgage banks, money center banks, credit unions, community banks, builder-owned lenders, internet-sourced lenders, and other non-bank financial institutions.

NMI Holdings grew annual revenue from $485.6M in FY2021 to $705.6M in FY2025, recording a 5-year revenue compound annual growth rate of 10.1%. Over the same span, net income increased from $231.1M to $388.9M, with diluted EPS advancing from $2.73 to $4.91. For FY2025, operating margin was 70.8% and net margin stood at 55.1%. Across the trailing twelve months ended June 30, 2026, revenue reached $730.8M with an operating margin of 76.7% and EPS of $5.08. In the quarter ended June 30, 2026, revenue increased 8.1% year-over-year while quarterly earnings expanded 14.1%.

As of June 30, 2026, NMI Holdings held $72.1M in cash and short-term investments against $418.0M in total debt, resulting in net debt of $345.9M. Shareholders' equity was $2.71B against total assets of $4.00B, yielding a debt-to-equity ratio of 0.15 and a current ratio of 0.54. In FY2025, the business generated $419.3M in operating cash flow and $412.5M in free cash flow. Capital expenditures were $6.8M, while share buybacks totaled $105.1M, contributing to a 12.1% reduction in share count over 5 years.

At $40.71 per share, NMI Holdings has a market capitalization of $3.06B and an enterprise value of $3.52B. The stock trades at a trailing P/E of 8.0x and a forward P/E of 7.7x, both below the US-listed Financial Services peer group medians of 12.1x and 10.8x, respectively. Its price-to-sales ratio is 4.2x compared to the peer median of 3.2x. Over the past year, the stock returned 15.2%, trailing the S&P 500 (SPY) return of 16.8%, while its 5-year return of 65.2% compares to 83.0% for the index.

Wall Street coverage includes 3 Strong Buy, 2 Buy, and 2 Hold recommendations, with zero Sell or Strong Sell ratings. The mean price target is $49.14, representing a 20.7% premium over the last close of $40.71. For the fiscal year ending December 31, 2026, consensus expectations project EPS of $5.27 on revenue of $753.3M. For the following fiscal year, 6 analysts anticipate revenue of $794.0M and EPS of $5.52. NMI Holdings has beaten EPS estimates in 3 of the last 4 quarters, and its next earnings date is November 5, 2026.

This page is an AI-written research summary of NMI Holdings, Inc. (NMIH). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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