Stocks · Financial Services · Insurance - Specialty
NMI Holdings, Inc. NMIH
$38.83 +1.97% Close, Oct 2, 2026 · NASDAQ · Market cap $2.95B
High qualityInexpensive vs sector
Next earnings report: Nov 3, 2026
Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.
Three things to know
- Revenue over the last four quarters was $730.5M, up 7.5% from a year earlier.
- Diluted EPS over the last four quarters was $5.08, up 7.9% year over year.
- The diluted share count fell 3.4% in a year, mainly through buybacks.
PromtFinance scores
Each score is a percentile within the Financial Services sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 5, 2026.
How fast revenue, earnings and cash flow are growing.
- Revenue growth (TTM, YoY)Top 47%
- EPS growth (TTM, YoY)Bottom 36%
- FCF growth (TTM, YoY)Bottom 45%
- Revenue growth, 3-year CAGRBottom 32%
- Revenue growth accelerationTop 44%
Returns on capital, margins, earnings quality and balance-sheet strength.
- Return on invested capitalTop 12%
- Gross marginTop 5%
- Operating marginTop 2%
- Cash conversion (OCF / net income)Bottom 47%
- Accruals (lower is better)Top 30%
- Net debt / EBITDA (lower is better)Top 42%
- Interest coverTop 9%
How cheap the shares are relative to earnings, cash flow and their own history.
- Earnings yieldTop 8%
- Free-cash-flow yieldTop 19%
- EBITDA / enterprise valueTop 10%
- Sales / enterprise valueBottom 29%
- P/E vs own 5-year history (lower is better)Top 26%
Strength and persistence of the price trend, including versus the S&P 500.
- 12-month return excluding last monthTop 38%
- 6-month returnBottom 44%
- 1-year return vs S&P 500Bottom 43%
- Distance from 52-week highBottom 29%
- Trend checklist (0–4)Bottom 27%
Earnings surprises and analyst sentiment (estimate-revision history is being collected).
- Average EPS surprise, last 4 quartersBottom 45%
- Consecutive EPS beatsTop 34%
- Share of analysts rating BuyTop 12%
- Upside to consensus price targetTop 22%
Low volatility, shallow drawdowns, low market sensitivity and modest leverage.
- Volatility, 60 days (lower is better)Bottom 33%
- Maximum drawdown, 3 yearsTop 28%
- Beta vs S&P 500 (lower is better)Top 37%
- Net debt / EBITDA (lower is better)Top 42%
What changed
Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).
| Measure | Before | Now | |
|---|---|---|---|
| Revenue growth (YoY) | 7.3% | 7.5% | ↑ |
| EPS growth (YoY) | 6.0% | 7.9% | ↑ |
| Gross margin | 93.2% | 91.7% | ↓ |
| Operating margin | 71.4% | 69.4% | ↓ |
| FCF margin | 57.8% | 60.5% | ↑ |
Fundamental momentum
| Measure | Now (TTM) | Year / quarter before | Sector rank | |
|---|---|---|---|---|
| Revenue growth (TTM, YoY) | 7.5% | 7.3% | ↑ | Top 47% |
| EPS growth (TTM, YoY) | 7.9% | 6.0% | ↑ | Bottom 36% |
| Gross margin | 91.7% | 93.2% | ↓ | Top 5% |
| Operating margin | 69.4% | 71.4% | ↓ | Top 2% |
| Net margin | 54.1% | 55.6% | ↓ | — |
| Free-cash-flow margin | 60.5% | 57.8% | ↑ | — |
| Return on invested capital | 11.0% | — | Top 12% | |
| Revenue growth, 3-year CAGR | 10.4% | — | Bottom 32% |
Quality of earnings and balance sheet
- Cash conversion (OCF / net income)Above 1× means profits are backed by cash.
- 1.13×
- Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
- -1.3%
- Stock-based compensation / revenueA cost to shareholders through dilution.
- 2.8%
- Receivables growth vs revenue growthReceivables growing much faster than sales can be a warning.
- -45.8 pp
- Net debt / EBITDABelow 1× is conservative; above 3× is high leverage.
- 0.63×
- Interest cover (operating income / interest)How many times operating profit covers interest.
- 17.8×
Shareholder returns
- Dividend yield (dividends paid, TTM)
- 0.00%
- Net buyback yield (TTM)
- 3.90%
- Shareholder yield
- 3.90%
- Share count change, 1 year
- -3.4%
- Share count change, 3-year CAGR
- -3.1%
Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.
Based on the four quarters through Jun 30, 2026 (filed Jul 31, 2026).
Earnings and expectations
Earnings momentum
- Consecutive EPS beats
- 3
- Beats in the last 8 reports
- 6 of 8
- Average EPS surprise, last 4
- +3.8%
- Average 2-day reaction, last 8
- -0.1%
- Positive 20 days after report
- 5 of 8
Analysts
- Consensus price target
- $49.50
- Target vs current price
- +27.5%
- Analysts with a rating
- 20
- Share rating Buy or Strong Buy
- 80%
- Consensus rating
- Buy
How the stock reacted to recent reports
| Report date | EPS surprise | 2 days | 5 days | 20 days | 60 days |
|---|---|---|---|---|---|
| Jul 30, 2026 | +7.8% | -2.0% | +1.4% | +1.8% | — |
| Apr 30, 2026 | +4.9% | -5.9% | -7.0% | -11.8% | +4.7% |
| Feb 10, 2026 | +2.6% | +0.6% | +0.2% | -5.0% | -4.2% |
| Nov 4, 2025 | +0.0% | +2.0% | +2.0% | +4.0% | +5.2% |
| Jul 29, 2025 | +5.2% | +0.4% | -0.6% | +4.8% | -3.3% |
| Apr 29, 2025 | +16.4% | +0.5% | +12.0% | +17.0% | +13.7% |
| Feb 6, 2025 | -3.6% | -0.6% | -10.0% | -9.2% | -3.7% |
| Nov 6, 2024 | +0.9% | +4.6% | +2.6% | +4.3% | +3.2% |
Returns from the close before each report. Past reactions do not determine future ones.
Earnings history
| Report date | EPS | Estimate | Surprise | Revenue |
|---|---|---|---|---|
| Jul 30, 2026 | $1.38 | $1.28 | +7.8% | $157.5M |
| Apr 30, 2026 | $1.28 | $1.22 | +4.9% | $154.8M |
| Feb 10, 2026 | $1.20 | $1.17 | +2.6% | $152.5M |
| Nov 4, 2025 | $1.21 | $1.21 | +0.0% | $178.7M |
| Jul 29, 2025 | $1.22 | $1.16 | +5.2% | $173.8M |
| Apr 29, 2025 | $1.28 | $1.10 | +16.4% | $173.2M |
| Feb 6, 2025 | $1.07 | $1.11 | -3.6% | $166.5M |
| Nov 6, 2024 | $1.15 | $1.14 | +0.9% | $166.1M |
Valuation in context
| Multiple | Now | 5-year median | 5-year percentile | Sector rank (cheapness) |
|---|---|---|---|---|
| P/E (trailing) | 7.6× | 7.9× | 29th | Top 8% |
| P/E (forward) | 7.4× | — | — | — |
| EV / EBITDA | 6.0× | — | — | Top 10% |
| EV / Sales | 4.51× | — | — | Bottom 29% |
| Free-cash-flow yield | 14.97% | — | — | Top 19% |
| Earnings yield | 13.08% | — | — | Top 8% |
P/E over the past five years
Range 6.6× – 9.9× since Jun 30, 2021. Each point: price on the filing date divided by trailing-twelve-month EPS known then.
What moved the stock over the past year
- Price return, 1 year
- +3.5%
- Earnings per share growth (TTM)
- +7.9%
- Change in P/E multiple
- +10.0%
Most of the move came from a change in the valuation multiple.
Technical state
Trend checklist
- ✗ Price above 20-day average
- ✗ Price above 50-day average
- ✗ Price above 200-day average
- ✓ 50-day average above 200-day
- ✗ MACD histogram positive
Trend quality
- Days above the 50-day average
- 0
- Days above the 200-day average
- 0
- 50-day average slope (20 days)
- +0.7%
- 200-day average slope (20 days)
- +1.0%
- Distance from 50-day average
- -11.1%
- Distance from 200-day average
- -3.4%
- RSI (14)
- 28.1
- Relative volume
- 1.40×
Risk and drawdowns
- Volatility, 60 days (annualized)
- 26.0%
- Volatility vs own 5-year history
- 50th percentile · Normal for this stock
- Beta vs S&P 500 (2 years, weekly)
- 0.56
- Correlation with S&P 500
- 0.33
- Current drawdown from 1-year high
- -15.1%
- Maximum drawdown, 3 years
- -21.4%
Largest declines in the past six years
| From peak | To low | Decline | Length | Recovery |
|---|---|---|---|---|
| Feb 8, 2022 | Jun 16, 2022 | -41.8% | 89 days | 270 days (Jul 17, 2023) |
| May 4, 2021 | Dec 1, 2021 | -26.7% | 147 days | 47 days (Feb 8, 2022) |
| Sep 16, 2024 | Apr 7, 2025 | -21.4% | 139 days | 52 days (Jun 23, 2025) |
| Aug 14, 2026 | Sep 30, 2026 | -18.4% | 32 days | Not yet recovered |
| Jul 3, 2025 | Oct 16, 2025 | -18.1% | 73 days | 194 days (Jul 28, 2026) |
Declines of 10% or more from a closing high, measured on daily closes.
Financial statements
- Market cap
- $2.95B
- P/E (TTM)
- 7.6
- EPS, diluted (TTM)
- $5.08
- Revenue (TTM)
- $730.5M
- 52-week range
- $34.84 – $46.74
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Revenue | $485.6M | $524.5M | $579.0M | $651.0M | $705.6M |
| Gross profit | $470.8M | $527.0M | $555.6M | $618.7M | $647.9M |
| Operating income | $296.7M | $377.3M | $412.7M | $463.4M | $499.8M |
| Net income | $231.1M | $292.9M | $322.1M | $360.1M | $388.9M |
| EPS (diluted) | $2.65 | $3.39 | $3.84 | $4.43 | $4.92 |
| Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $166.1M | $166.5M | $173.2M | $173.8M | $178.7M | $180.5M | $183.5M | $187.9M |
| Net income | $92.8M | $86.2M | $102.6M | $96.2M | $96.0M | $94.2M | $99.3M | $105.8M |
| EPS (diluted) | $1.15 | $1.07 | $1.28 | $1.21 | $1.22 | $1.20 | $1.28 | $1.38 |
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Operating cash flow | $325.7M | $313.4M | $342.7M | $393.6M | $419.3M |
| Capital expenditure | -$12.2M | -$10.6M | -$9.4M | -$6.9M | -$6.8M |
| Free cash flow | $313.5M | $302.8M | $333.3M | $386.7M | $412.5M |
| Dividends paid | $0 | $0 | $0 | $0 | $0 |
| Net share buybacks | $4.7M | -$50.6M | -$81.1M | -$93.3M | -$102.2M |
Cash outflows are shown as negative numbers.
- Cash and short-term investments
- $72.1M
- Total assets
- $4.00B
- Total liabilities
- $1.29B
- Total debt
- $418.0M
- Net debt
- $345.9M
- Shareholders’ equity
- $2.71B
As of Jun 30, 2026 (filed Jul 31, 2026).
Short interest
- Shares sold short
- 1,976,564
- Days to cover
- 3.72
- Change vs previous report
- +8.7%
FINRA short interest, settlement date Sep 15, 2026.