NI Holdings, Inc. (NODK) AI Stock Analysis

Established in 1946 and headquartered in Fargo, North Dakota, NI Holdings, Inc. operates as an underwriter in the property and casualty insurance sector across the United States. A subsidiary of Nodak Mutual Group, Inc., the company offers private passenger auto, non-standard automobile, homeowners', farm owners', crop hail, multi-peril crop, and liability insurance policies. NI Holdings delivers personal and commercial insurance products focused on risk management, customer satisfaction, and responsiveness to evolving regulatory and industry trends.

Between FY2020 and FY2025, NI Holdings recorded a 5-year revenue compound annual growth rate of -1.4%. Annual revenue declined 12.3% in FY2025 to $285.1M, following $325.2M in FY2024 and $304.0M in FY2023. Gross margin was 29.6% in FY2025 compared to 14.3% in FY2024, while operating margin was -4.3% versus 3.1% in FY2024. The company reported net income of -$10.4M in FY2025, compared to -$6.1M in FY2024. For the trailing twelve months ended June 30, 2026, revenue totaled $267.4M with a profit margin of 2.9% and diluted EPS of $0.38. In the quarter ended June 30, 2026, quarterly revenue fell 7.7% year-over-year, while quarterly earnings grew 94.9%.

As of June 30, 2026, NI Holdings held $51.6M in cash and short-term investments and $1.2M in total debt, resulting in net cash of $50.5M and a debt-to-equity ratio of 0.00. Total assets reached $543.1M against shareholders' equity of $249.4M, with a current ratio of 14.18. In FY2025, operating cash flow was -$15.3M and free cash flow was -$15.5M. Capital expenditures totaled $217,000, while share buybacks totaled $2.7M, contributing to a 5-year share count change of -2.5%.

At a closing price of $14.81 on October 16, 2026, NI Holdings had a market capitalization of $302.2M and an enterprise value of $249.6M. The stock traded at a trailing price-to-earnings multiple of 39.0x, above the 12.1x median of its US-listed Financial Services peers. Its price-to-sales multiple was 1.1x and its price-to-book multiple was 1.2x, compared to the peer median price-to-sales ratio of 3.2x. Over the prior year, NODK returned 9.3%, trailing the S&P 500 (SPY) return of 16.8%, and recorded a 5-year return of -25.6% versus 83.0% for the index.

There are no consensus price targets or rating counts available for NI Holdings. The company's next earnings date is scheduled for November 6, 2026. At its last close of $14.81 on October 16, 2026, the stock traded 3.9% above its 200-day moving average, within a 52-week range of $12.37 to $16.70. With a beta of 0.31, the stock has exhibited lower price volatility than the broader market.

This page is an AI-written research summary of NI Holdings, Inc. (NODK). 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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