NMI Holdings Inc
Description
NMI Holdings, Inc. provides private mortgage guaranty insurance services in the United States. The company offers mortgage insurance services, such as primary and pool insurance; and outsourced loan review services to mortgage loan originators. It serves national and regional mortgage banks, money center banks, credit unions, community banks, builder-owned mortgage lenders, internet-sourced lenders, and other non-bank lenders. The company was incorporated in 2011 and is headquartered in Emeryville, California.
About
CEO
Mr. Adam S. Pollitzer
Employees
229
Instrument type
Common Stock
Sector
Financial Services
Industry
Insurance - Specialty
MIC code
XNMS
Address
2100 Powell Street, EmeryVille, CA 94608, United States
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Oscillators
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Summary
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Moving Averages
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Earnings
| Date | Estimate EPS | Actual EPS | Difference | % Surprise |
|---|---|---|---|---|
| Nov 4, 2025 | — | — | — | — |
| Jul 28, 2025 | — | — | — | — |
| Apr 28, 2025 | — | — | — | — |
| Feb 7, 2025 | 1.14 | — | — | — |
Earnings estimate
|
Next Quarter
(Mar 2025)
|
Next Year
(Dec 2025)
|
|||
|---|---|---|---|---|
| Number of analysts | — | 7 | — | 8 |
| Average estimate | — | 1.16 | — | 4.72 |
| Low estimate | — | 1.12 | — | 4.57 |
| High estimate | — | 1.20 | — | 4.87 |
| Last year EPS | — | 1.08 | — | 4.55 |
[stock_revenue_estimate]
Growth estimates
Current qtr
11.070%
Next qtr. (Mar 2025)
7.140%
Current year
18.600%
Next year (Dec 2025)
3.710%
Next 5 years (per annum)
—
Past 5 years (per annum)
—
Income statement
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total reported revenue | 579.00M | 524.46M | 485.64M | 436.19M | 370.11M |
| Cost of revenue | — | — | — | — | — |
| Gross profit | — | — | — | — | — |
| Operating expense | |||||
| Research & development | — | — | — | — | — |
| Selling general and admin | — | — | — | — | 2.25M |
| Other operating expenses | — | — | — | 2.84M | 2.25M |
| Operating income | — | — | — | — | — |
| Non operating interest income | |||||
| Income | — | — | — | — | — |
| Expense | 32.21M | 32.16M | 31.80M | 24.39M | 12.09M |
| Other income expense | 756,000 | 1.19M | 1.98M | 3.28M | 2.86M |
| Pretax income | 412.70M | 377.31M | 296.73M | 218.11M | 216.65M |
| Tax provision | 90.59M | 84.40M | 65.60M | 46.54M | 44.70M |
| Net income | 322.11M | 292.90M | 231.13M | 171.57M | 171.96M |
| Basic EPS | 3.91 | 3.45 | 2.70 | 2.20 | 2.54 |
| Diluted EPS | 3.84 | 3.39 | 2.65 | 2.13 | 2.47 |
| Basic average shares | 82.41M | 84.92M | 85.62M | 78.02M | 67.57M |
| Diluted average shares | 82.41M | 84.92M | 85.62M | 78.02M | 67.57M |
| EBITDA | — | — | — | — | — |
| Net income from continuing op. | 322.11M | 292.90M | 231.13M | 171.57M | 171.96M |
| Minority interests | — | — | — | — | — |
| Preferred stock dividends | — | — | — | — | — |
Balance sheet
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total assets | — | — | — | — | — |
| Current assets | |||||
| Cash | — | — | — | — | — |
| Cash equivalents | — | — | — | — | — |
| Cash and cash equivalents | 95.35M | 42.25M | 73.48M | 121.38M | 38.43M |
| Other short term investments | 237.94M | 338.99M | 2.09B | 1.80B | 1.14B |
| Accounts receivable | 103.97M | 91.27M | 80.68M | 67.39M | 51.02M |
| Other receivables | — | — | — | — | — |
| Inventory | — | — | — | — | — |
| Prepaid assets | 235.29M | 154.41M | 89.24M | 9.48M | 19.00M |
| Restricted cash | — | — | — | — | — |
| Assets held for sale | — | — | — | — | — |
| Hedging assets | — | — | — | — | — |
| Other current assets | — | — | — | — | — |
| Non current assets | |||||
| Properties | — | — | — | — | — |
| Land and improvements | — | — | — | — | — |
| Machinery furniture equipment | — | — | — | — | — |
| Construction in progress | — | — | — | — | — |
| Leases | — | — | — | — | — |
| Accumulated depreciation | — | — | — | — | — |
| Goodwill | 6.88M | 6.88M | 6.88M | 6.88M | 6.88M |
| Investment properties | — | — | — | — | — |
| Financial assets | — | — | — | — | — |
| Intangible assets | 390,000 | 390,000 | 390,000 | 390,000 | 390,000 |
| Investments and advances | 2.37B | 2.10B | 2.09B | 1.80B | 1.14B |
| Other non current assets | — | — | — | — | — |
| Total liabilities | — | — | — | — | — |
| Current liabilities | |||||
| Accounts payable | — | — | — | — | — |
| Accrued expenses | — | — | — | — | — |
| Short term debt | — | — | — | — | — |
| Deferred revenue | — | — | — | — | — |
| Tax payable | — | — | — | — | — |
| Pensions | — | — | — | — | — |
| Other current liabilities | — | — | — | — | — |
| Non current liabilities | |||||
| Long term debt | 397.60M | 396.05M | 394.62M | 393.30M | 145.76M |
| Provision for risks and charges | — | — | — | — | — |
| Deferred liabilities | 301.57M | 193.86M | 164.18M | 112.59M | 56.36M |
| Derivative product liabilities | — | — | 2.36M | 4.41M | 7.64M |
| Other non current liabilities | — | — | — | — | — |
| Shareholders equity | |||||
| Common stock | 873,000 | 865,000 | 858,000 | 852,000 | 684,000 |
| Retained earnings | 1.22B | 901.04M | 608.14M | 377.01M | 205.45M |
| Other shareholders equity | -139.92M | -204.32M | 1.49M | 53.86M | 17.29M |
| Total shareholders equity | 1.93B | 1.61B | 1.57B | 1.37B | 930.42M |
| Additional paid in capital | 990.82M | 972.72M | 955.30M | 937.87M | 707.00M |
| Treasury stock | 148.92M | 56.58M | — | — | — |
| Minority interest | — | — | — | — | — |
Cash flow statement
| 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||||||
| Net Income | 322.11M | 292.90M | 231.13M | 171.57M | 171.96M | 107.93M | 22.05M | 64.00M | -27.79M | -48.91M | -55.18M | -27.49M |
| Depreciation | — | — | — | — | — | — | — | — | — | — | — | — |
| Deferred Taxes | 90.59M | 84.39M | 65.51M | 46.51M | 45.08M | 25.93M | 31.10M | -52.91M | — | — | — | — |
| Stock-Based Compensation | 16.91M | 15.43M | 16.68M | 11.12M | 13.03M | 12.56M | 9.48M | 6.85M | 8.17M | 9.18M | 10.37M | 6.12M |
| Other Non-Cash Items | — | — | — | — | — | — | — | — | — | — | — | 1.62M |
| Accounts Receivable | -12.70M | -10.59M | -13.29M | -16.36M | -12.02M | -11.93M | -11.45M | -8.59M | -4.10M | -1.03M | -19,000 | — |
| Accounts Payable | — | — | — | — | — | — | — | 3.30M | — | 117,000 | — | — |
| Other Assets & Liabilities | -1.18M | -1.67M | -901,000 | 2.96M | -7.91M | 2.96M | -1.82M | -2.91M | 419,000 | -446,000 | 46,000 | -78,000 |
| Operating Cash Flow | 415.74M | 380.46M | 299.13M | 215.79M | 210.14M | 137.45M | 49.36M | 9.75M | -23.30M | -41.08M | -44.79M | -19.83M |
| Investing Activities | ||||||||||||
| Capital Expenditures | — | — | -12.24M | -12.16M | -9.96M | -8.06M | -8.51M | -11.47M | -6.14M | -8.22M | -6.69M | -2.45M |
| Net Intangibles | -9.37M | -10.57M | -12.24M | -12.16M | — | — | — | — | — | — | — | — |
| Net Acquisitions | — | — | — | — | — | — | — | — | — | — | — | -2.50M |
| Purchase of Investments | -654.79M | -547.51M | -525.05M | -1.11B | -520.90M | -614.25M | -350.28M | -313.64M | -364.93M | -60.46M | -560.39M | -4.86M |
| Sale of Investments | 464.16M | 268.30M | 163.10M | 490.76M | 336.50M | 401.66M | 265.71M | 245.31M | 140.90M | 136.76M | 147.13M | — |
| Investing Cash Flow | -190.63M | -279.21M | -374.18M | -629.55M | -194.36M | -220.65M | -93.07M | -79.79M | -230.17M | 68.08M | -419.95M | -9.81M |
| Financing Activities | ||||||||||||
| Long-Term Debt Issuance | — | — | — | 400.00M | — | 149.25M | — | — | 148.50M | — | — | — |
| Long-Term Debt Payments | — | — | — | -147.75M | -1.50M | -147.38M | -1.50M | -1.50M | -375,000 | — | — | -205,000 |
| Other Financing Charges | -9.36M | -5.21M | -6.53M | -18.00M | -18.25M | -13.33M | -9.03M | -755,000 | -5.54M | -1.12M | -1.58M | — |
| Financing Cash Flow | -100.97M | -61.79M | -6.53M | 453.93M | -19.75M | 67.71M | -10.53M | -2.26M | 143.00M | -23,000 | 26.33M | 510.26M |
| Other Cash Details | ||||||||||||
| End Cash Position | 96.69M | 44.43M | 76.65M | 126.94M | 41.09M | 25.29M | 19.20M | 47.75M | 57.32M | 103.02M | 55.93M | 485.86M |
| Income Tax Paid | 20,000 | — | — | — | — | 867,000 | 1.22M | 200,000 | — | — | — | — |
| Interest Paid | 29.50M | 29.50M | 29.50M | 17.56M | 10.69M | 12.09M | 13.36M | 9.67M | 5,000 | — | — | — |
| Free Cash Flow | 333.31M | 302.82M | 313.48M | 240.44M | 198.19M | 137.80M | 59.25M | 60.47M | 35.33M | -29.19M | -43.00M | -17.04M |
Top Institutional Holders
| Holder | Date Reported | Shares | Value | % Held |
|---|---|---|---|---|
| iShares Core S&P Smallcap ETF | Nov 30, 2024 | 5,199,302 | 203.03M | 6.57% |
| Vanguard Total Stock Market Index Fund | Sep 30, 2024 | 2,478,498 | 96.79M | 3.13% |
| Smallcap World Fund | Sep 30, 2024 | 2,468,517 | 96.40M | 3.12% |
| iShares Russell 2000 ETF | Nov 30, 2024 | 2,291,701 | 89.49M | 2.90% |
| Delaware Group Equity Fds V-Small Cap Core Fund | Nov 30, 2024 | 1,741,055 | 67.99M | 2.20% |
| Avantis U.S. Small Cap Value ETF | Nov 30, 2024 | 1,602,024 | 62.56M | 2.02% |
| Vanguard Extended Market Index Fund | Sep 30, 2024 | 1,199,362 | 46.84M | 1.52% |
| Fidelity Small Cap Index Fund | Oct 31, 2024 | 800,486 | 31.26M | 1.01% |
| DFA U.S. Targeted Value Portfolio | Oct 31, 2024 | 766,512 | 29.93M | 0.97% |
| SPDR Portfolio S&P 600 Small Cap ETF | Nov 30, 2024 | 728,109 | 28.43M | 0.92% |
Article
NMI Holdings Q4 Earnings and Revenues Miss Estimates, Premiums Up Y/Y
NMIH's fourth-quarter results reflect higher premiums and net investment income but lower persistency.
Feb 7, 2025
Article
NMI Holdings, Inc. (NMIH) Q4 2024 Earnings Call Transcript
NMI Holdings, Inc. (NASDAQ:NMIH ) Q4 2024 Earnings Conference Call February 6, 2025 5:00 PM ET Company Participants John Swenson - Vice President of Investor Relations, and Treasury Brad Shuster - Executive Chairman Adam Pollitzer - President and Chief Executive Officer Aurora Swithenbank - Chief Financial Officer Conference Call Participants Doug Harter - UBS Terry Ma - Barclays Capital Bose George - KBW Rick Shane - J.P. Morgan Mark Hughes - Truist Securities Mihir Bhatia - Bank of America Operator Good day, and welcome to the NMI Holdings, Inc. Fourth Quarter 2024 Earnings Conference Call.
Feb 7, 2025
Article
NMI Holdings (NMIH) Q4 Earnings: How Key Metrics Compare to Wall Street Estimates
The headline numbers for NMI Holdings (NMIH) give insight into how the company performed in the quarter ended December 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Feb 6, 2025
