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NMI Holdings Inc

NMIH Financial Insurance Specialty

NMI Holdings Inc’s revenue for fiscal 2025 (year ended December 2025) was $706.4 million, up 8.52% from fiscal 2024.

Revenue
+4.96%
EPS
+0.81%
Free cash flow
+10.7%
Total debt
+0.48%

Quarter to September 2026, against a year earlier

44.13 0.17 +0.39%
Market cap
$3.3B
P/E
8.5×
Fwd P/E
8.0×
Dividend yield
—
F-score
5/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

NMI Holdings Inc (NMIH) Debt to equity

Alert me on Debt to equity

NMI Holdings Inc's debt to equity at the end of the quarter to 30 September 2026 was 0.2×, down 0.0× from fiscal 2025 (0.2×). Over the past ten years it has ranged from 0.2× (fiscal 2019) to 0.4× (fiscal 2015); the current reading is higher than 18% of that period. That is in line with the Insurance Specialty industry median of 0.2× and below the Financial sector median of 0.2×.

Debt to equity, annual

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Annual newest first

Period Debt to equity Change
FY2025 0.2× (14.05%)
FY2024 0.2× (9.30%)
FY2023 0.2× (15.89%)
FY2022 0.2× (2.62%)
FY2021 0.3× (12.26%)
FY2020 0.3× 83.28%
FY2019 0.2× (25.10%)
FY2018 0.2× (25.97%)
FY2017 0.3× (6.92%)
FY2016 0.3× (15.05%)

Quarterly newest first

Period Debt to equity Change
Sep 2026 0.2× 0.26%
Jun 2026 0.2× (2.59%)
Mar 2026 0.2× (1.43%)
Dec 2025 0.2× (2.84%)
43 more quarters

Against its own ten years

Low 0.2× High 0.4×
Ten-year median 0.2×
Current reading's percentile 18

Debt to equity against peers

Company Debt to equity
ESNT Essent Group Ltd. compare 0.1×
MTG MGIC Investment Corporation compare 0.1×
ACT Enact Holdings, Inc. compare 0.1×
NMIH NMI Holdings Inc 0.2×
AXS Axis Capital Holdings Limited compare 0.2×
RDN Radian Group Inc. compare 0.3×
FAF First American Financial Corporation compare 0.3×
AGO Assured Guaranty Ltd. compare 0.3×
FNF Fidelity National Financial, Inc. compare 0.5×
Insurance Specialty industry median 0.2×
Financial sector median 0.2×
Market median 0.1×

What Debt to equity is

Debt to Equity Ratio shows how much a company relies on borrowed money compared with the money its shareholders have in the business.

(Long Term Debt (Total) + Current Part of Debt) ÷ Shareholders Equity (Total)

The full definition of Debt to equity →

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