NASDAQ:NMIH · NASDAQ Global Market
-$0.02 today
Vol 0.38M · Avg 0.51M
Income Statement
Follow revenue through to earnings
Review sales, margins, expenses, and profit trends to see what is actually driving reported earnings over time.
Stock Ticker Earnings Waterfall
NASDAQ:NMIH · Revenue to Net Income
Key Ratios
Analysis
$716.4M of revenue converted into $385.7M of net income for the selected period. Gross margin is 89.7% and net margin is 53.9%, showing how much revenue survives after costs and taxes. EPS is $4.91, tying the income statement back to per-share earnings.
Revenue
—
Operating Income
—
Net Income
—
Income Statement
Annual data · 5 periods
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $705.6M +8.4% | $651.0M +12.4% | $579.0M +10.4% | $524.5M +8.0% | $485.6M | $809.6M | $921.6M | $731.2M |
| Cost of Revenue | $57.6M +78.7% | $32.3M +38.0% | $23.4M +1035.6% | -$2.5M -116.9% | $14.8M | $725.6M | $804.0M | $882.4M |
| Gross Profit | $647.9M +4.7% | $618.7M +11.4% | $555.6M +5.4% | $527.0M +11.9% | $470.8M | $8.9B | $7.6B | $6.2B |
| Gross Margin | 91.8% -3.2pp | 95.0% -0.9pp | 96.0% -4.5pp | 100.5% +3.5pp | 96.9% | 9.8% | 28.9% | 38.3% |
| Research & Development | $0 | $0 | $0 | $0 | $0 | $983.2M | $1.3B | $490.4M |
| Selling, General & Admin | $0 | $0 | $0 | $0 | $0 | $620.6M | $923.0M | -$1.5B |
| Operating Expenses | $148.1M -4.6% | $155.3M +8.7% | $142.9M -4.5% | $149.7M -14.0% | $174.1M | $5.3B | $7.0B | $8.7B |
| Depreciation & Amortization | $11.3M -5.7% | $11.9M +3.4% | $11.5M -2.8% | $11.9M +5.7% | $11.2M | $374.2M | $1.2B | $631.8M |
| EBITDA | $539.5M +5.3% | $512.2M +12.2% | $456.5M +8.3% | $421.3M +24.0% | $339.8M | -$15.2B | $6.8B | $9.3B |
| EBITDA Margin | 76.5% -2.2pp | 78.7% -0.1pp | 78.8% -1.5pp | 80.3% +10.4pp | 70.0% | 5.6% | 46.3% | 42.0% |
| Operating Income | $499.8M +7.9% | $463.4M +12.3% | $412.7M +9.4% | $377.3M +27.2% | $296.7M | $12.3B | $14.0B | -$15.7B |
| Operating Margin | 70.8% -0.4pp | 71.2% -0.1pp | 71.3% -0.7pp | 71.9% +10.8pp | 61.1% | 16.6% | 24.1% | 22.0% |
| Interest Income | $0 -100.0% | $5.0M +117.4% | $2.3M +475.0% | $400.0K | $0 | -$1.5B | -$1.6B | $405.0M |
| Interest Expense | $28.5M -22.8% | $36.9M +14.5% | $32.2M +0.2% | $32.2M +1.2% | $31.8M | $1.1B | $1.0B | $1.2B |
| Other Income / Expenses | $0 | $0 | $0 | $0 | $0 | -$1.5B | $1.4B | $1.2B |
| Income Before Tax | $499.8M +7.9% | $463.4M +12.3% | $412.7M +9.4% | $377.3M +27.2% | $296.7M | $3.3B | $4.9B | $3.6B |
| Pre-Tax Margin | 70.8% -0.4pp | 71.2% -0.1pp | 71.3% -0.7pp | 71.9% +10.8pp | 61.1% | 20.8% | 18.7% | 26.2% |
| Income Tax Expense | $110.9M +7.3% | $103.3M +14.0% | $90.6M +7.3% | $84.4M +28.7% | $65.6M | $1.3B | -$1.6B | $745.2M |
| Net Income | $388.9M +8.0% | $360.1M +11.8% | $322.1M +10.0% | $292.9M +26.7% | $231.1M | $4.9B | $4.8B | $4.7B |
| Net Margin | 55.1% -0.2pp | 55.3% -0.3pp | 55.6% -0.2pp | 55.8% +8.3pp | 47.6% | 12.4% | 17.5% | 22.5% |
| EPS (Basic) | $5 +11.1% | $5 +15.3% | $4 +13.3% | $3 +27.8% | $3 | $400.8M | $703.2M | $1.3B |
| EPS (Diluted) | $5 +11.1% | $4 +15.4% | $4 +13.3% | $3 +27.9% | $3 | $766.2M | $609.4M | $452.6M |
| Weighted Avg Shares | $77.6M -2.8% | $79.8M -3.1% | $82.4M -3.0% | $84.9M -0.8% | $85.6M | $757.8M | $925.8M | $1.1B |
| Weighted Avg Shares (Diluted) | $79.0M -2.7% | $81.3M -3.1% | $83.9M -2.5% | $86.0M -1.0% | $86.9M | $1.2B | $924.4M | $678.0M |
Older periods hidden.
Sign in to unlockCompetitors
Peer companies in the same sector
Enova International, Inc.
NYSE:ENVA
$5.85B
Bread Financial Holdings, Inc.
NYSE:BFH
$4.13B
WesBanco, Inc.
NASDAQ:WSBC
$3.81B
Brighthouse Financial, Inc.
NASDAQ:BHF
$3.68B
BankUnited, Inc.
NYSE:BKU
$3.53B
Hamilton Insurance Group, Ltd.
NYSE:HG
$3.44B
Simmons First National Corporation
NASDAQ:SFNC
$3.31B
Oaktree Capital Group, LLC
NYSE:OAK-PA
$2.51B
Kemper Corporation
NYSE:KMPR
$1.70B
Eagle Point Credit Company Inc.
NYSE:ECC
$510.33M
SEC Filings
Recent regulatory filings
No filings found.
How much revenue does NMIH generate?
NMI Holdings, Inc. (NMIH) reported $705.58M of revenue in fiscal 2025.
Is NMIH profitable?
NMI Holdings, Inc. (NMIH) reported $388.93M of net income, with a net margin of 55.1%.
Explore More
Continue the stock analysis
Jump to another research area for this company.