NMI Holdings Inc (NMIH)
UndervaluedFundamental
82
Price
$42.55
Market Cap
$3.07B
Part 1 · What the company is worth
Overview
NMI Holdings, Inc., together with its subsidiaries, provides private mortgage guaranty insurance services in the United States. It provides primary mortgage insurance services; and outsourced loan review services to mortgage loan originators. The company 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. NMI Holdings, Inc. was incorporated in 2011 and is headquartered in Emeryville, California.
No editorial profile for this company yet
Direct competitors
Who this company fights with for the same customers
Generated with artificial intelligence on September 19, 2026, shared with all users
The former Genworth mortgage insurance business, writing the same US private mortgage insurance on conforming loans through the same lender distribution channel.
Through its Arch MI unit it is one of the six private mortgage insurers National MI lists as competitors, and it can price aggressively because mortgage insurance is only one part of a larger insurance and reinsurance group.
The largest US private mortgage insurer by insurance in force, selling the same GSE-eligible borrower-paid coverage to the same mortgage lenders and loan officers that National MI sells to.
Named by NMI Holdings in its own annual report as one of the six active private mortgage insurers, competing on price and lender relationships for the same high-loan-to-value purchase mortgages.
A private mortgage insurer of similar vintage and size to National MI, bidding for the same lender master policies with a comparable reinsurance-backed capital model.
Balance Sheet & Liquidity
Revenue
$731M
Trailing 12 months (through 6/30/2026)
Net Income
$395M
Trailing 12 months (through 6/30/2026)
Free Cash Flow
$413M
Total Equity
$2.59B
Total Liabilities
$1.25B
Current Ratio
-
Interest Coverage
-
Debt/EBITDA
0.77
Earnings Per Share
Revenue & Net Income
Free Cash Flow
Income Breakdown
Historical statement
Margins over time
Debt over time
How heavy the debt is
Growth grid
Growth — Revenue
Fair Value Estimation
Fair Value
$107.28
Current Price
$42.55
Margin of Safety
+60.3%
Fair Value Range
$69.73 - $144.82
Spread across the valuation methods used, not a statistically calibrated confidence interval.
Estimation Methods
Valuation Metrics
P/E Ratio
8.36
ROE
15.0%
P/B Ratio
1.18
P/FCF
7.25
Gross Margin
-
ROIC
-
Profitability Radar
Value Creation (Economic Moat)
ROIC
-
WACC
7.7%
ROIC − WACC
-
Fundamental Analysis Criteria
Passed (17)
- EPS shows upward trend
- Price CAGR 14.76%
- P/FCF 7.25
- P/B ratio 1.18
- Debt/equity ratio
- Positive free cash flow
- CapEx intensity
- Debt/EBITDA
- Return on tangible assets
- Low reliance on intangibles
- Price below Graham Number
- ROE 15.1%
- Revenue growth 5Y 10.3%
- PEG ratio 0.44
- Earnings quality (operating cash flow / net income) 1.13
- Share dilution -2.8%
- Piotroski F-Score 5/9
Failed (3)
- DCF valuation (Fairly Valued)
- Earnings surprise, average 1.2%
- Net margin trend 54.1% vs 55.6%
Unavailable (6)
- ROIC –
- Gross margin –
- Dividend payout –
- Operating margin –
- Current ratio
- Interest coverage
Piotroski F-Score
Mixed signals: some areas need attention
Earnings Quality
High quality: earnings backed by cash
Share Dilution
Buying back shares. Shareholder friendly
Institutional Holdings
Governance
Executive Team
| Name | Title | Age |
|---|---|---|
| Mr. Bradley Mize Shuster C.F.A. | Executive Chairman | 70 |
| Mr. Adam S. Pollitzer | President, CEO & Director | 45 |
| Ms. Aurora Jean Swithenbank | Executive VP & CFO | 49 |
| Mr. William J. Leatherberry J.D. | Executive VP, Chief Administrative Officer General Counsel & Secretary | 54 |
| Mr. Robert Owen Smith | Executive VP & Chief Risk Officer | 55 |
| Mr. Mohammad Yousaf | EVP, Chief of Operations & Technology | 49 |
| Mr. John M. Swenson | Vice President of Investor Relations & Treasury | - |
| Ms. Lesley Alli | Senior VP of Industry Relations & Corporate Communications | - |
| Mr. Norman P. Fitzgerald | Executive VP & Chief Sales Officer | 58 |
| Ms. Allison Miller | Senior VP & CHRO | - |
Audit Risk
1
Board Risk
4
Compensation Risk
2
Shareholder Rights Risk
7
Documents
- View document
Annual Report (10-K)
A yearly overview of the business, its financial results, and the risks it faces.
Filed on 2026-02-12
- View document
Quarterly Report (10-Q)
A snapshot of financial performance for the most recent three-month period.
Filed on 2026-07-31
- View document
Current Report (8-K)
An announcement of a major event, such as a leadership change or big news.
Filed on 2026-07-30
via SEC EDGAR
Income History
via SEC EDGAR
Part 2 · The price and its context
This part shows how the price has behaved, not whether the company is worth owning. Inside: technical analysis, potential, historical drawdowns, gamma exposure.
Market Reaction Profile
How much NMIH moves, measured on its daily prices.
More volatile than 20% of the tracked stocks (90-day volatility).
- Volatility 30d
- 33.5%
- Volatility 90d
- 24.8%
- Beta vs S&P 500 (1y)
- 0.10Correlation 0.05
- Max drawdown (12m)
- -18.4%
- ATR (14d, % of price)
- 2.74%
Earnings reactions
How NMIH moved around its past quarterly results.
Next earnings release
Nov 5, 2026 · In 12 days · Time not known
EPS estimate: 1.31Revenue estimate: $190M
What usually happens
- Over the last 12 releases the stock moved a median of 1.9% the next day, up or down.
- Next-day moves: up 6, down 6 (out of 12).
Release history
| Date | When | EPS est. | EPS actual | Surprise | Gap | 1 day | 5 days |
|---|---|---|---|---|---|---|---|
| Jul 30, 2026 | After the close | 1.31 | 1.38 | +5.7% | +4.2% | +2.0% | +1.4% |
| Apr 30, 2026 | After the close | 1.26 | 1.28 | +1.8% | +0.2% | -3.9% | -0.3% |
| Feb 10, 2026 | After the close | 1.21 | 1.20 | -1.1% | -1.6% | +1.8% | -1.3% |
| Nov 4, 2025 | After the close | 1.23 | 1.21 | -1.6% | -5.8% | -1.8% | +0.6% |
| Jul 29, 2025 | After the close | n/a | n/a | n/a | +0.2% | -1.6% | -0.3% |
| Apr 29, 2025 | After the close | n/a | n/a | n/a | +4.4% | +7.5% | +12.9% |
| Feb 6, 2025 | After the close | n/a | n/a | n/a | -2.5% | -4.8% | -8.4% |
| Nov 6, 2024 | After the close | n/a | n/a | n/a | -5.9% | -5.2% | -2.8% |
| Jul 30, 2024 | After the close | n/a | n/a | n/a | +3.4% | +0.4% | -6.9% |
| Apr 30, 2024 | After the close | n/a | n/a | n/a | +0.3% | +2.6% | +9.1% |
| Feb 14, 2024 | After the close | n/a | n/a | n/a | +1.5% | -1.7% | -3.7% |
| Nov 1, 2023 | After the close | n/a | n/a | n/a | +2.1% | +1.5% | +2.0% |
Release dates from SEC 8-K filings.
Updated 10/24/2026
Historical statistics for educational purposes only. They are not forecasts and not investment advice.
Price reaction to the news
Latest news on NMIH and what the price did next.
Return of the stock minus return of SPY over the same days. A news item close to a price move did not necessarily cause it. Historical data for educational purposes only, not investment advice.
Latest News
Recent headlines for NMIH.