Last 47 quarters of trend data · Financial Services · Insurance - Specialty
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 7.89 | 7.44 | 7.33 | 8.50 | 7.86 | 8.72 | 7.04 | 8.59 | 8.95 | 7.53 | 7.49 | 7.35 | 6.77 | 6.79 | 6.34 | 6.08 | 5.66 | 4.84 | 6.69 | 7.92 | 8.19 |
| — | -14.6% | +4.0% | -1.1% | -12.3% | +15.7% | -5.9% | +16.9% | +32.2% | +10.8% | +18.0% | +20.9% | +19.7% | +40.4% | -5.2% | -23.3% | -30.9% | -44.0% | -30.9% | -21.7% | -17.2% | |
| P/S Ratio | 4.18 | 4.21 | 3.96 | 4.42 | 4.23 | 4.81 | 4.15 | 4.45 | 5.02 | 4.27 | 4.25 | 4.05 | 3.82 | 3.81 | 3.46 | 3.33 | 3.33 | 2.70 | 3.53 | 3.80 | 3.96 |
| — | -12.5% | -4.7% | -0.7% | -15.8% | +12.7% | -2.2% | +9.8% | +31.4% | +12.0% | +22.7% | +21.7% | +14.7% | +40.8% | -1.9% | -12.4% | -15.8% | -32.7% | -20.6% | -15.5% | +11.6% | |
| P/B Ratio | 1.18 | 0.00 | 0.00 | 1.23 | 1.20 | 1.38 | 1.24 | 1.34 | 1.52 | 1.35 | 1.34 | 1.27 | 1.27 | 1.24 | 1.11 | 1.10 | 1.14 | 0.95 | 1.17 | 1.22 | 1.30 |
| — | -99.9% | -99.9% | -7.9% | -21.0% | +2.1% | -7.6% | +4.9% | +20.2% | +8.8% | +20.9% | +16.0% | +10.9% | +31.5% | -5.4% | -9.6% | -11.9% | -29.3% | -20.8% | -14.8% | +11.2% | |
| P/FCF | 7.15 | 5.50 | 6.31 | 13.27 | 5.98 | 6.60 | 7.24 | 21.52 | 6.30 | 5.97 | 6.07 | 21.42 | 4.82 | 5.50 | 5.36 | 15.29 | 4.13 | 4.00 | 5.75 | 11.55 | 5.13 |
| — | -16.6% | -12.7% | -38.3% | -5.0% | +10.6% | +19.3% | +0.5% | +30.6% | +8.6% | +13.2% | +40.1% | +16.7% | +37.6% | -6.7% | +32.4% | -19.4% | -23.4% | -6.7% | -18.3% | +11.9% | |
| EV / EBITDA | 6.50 | — | 6.38 | 7.19 | 6.54 | 7.27 | 6.00 | 7.30 | 7.40 | 6.41 | 6.20 | 6.37 | 5.65 | 5.85 | 5.58 | 5.44 | 4.96 | 4.41 | 5.75 | 6.85 | 7.05 |
| — | — | +6.4% | -1.5% | -11.6% | +13.3% | -3.2% | +14.6% | +31.0% | +9.7% | +11.0% | +17.0% | +13.9% | +32.5% | -3.0% | -20.6% | -29.6% | -41.0% | -30.7% | -21.0% | -15.5% | |
| EV / EBIT | 6.65 | — | 6.16 | 6.94 | 6.32 | 7.03 | 5.81 | 7.05 | 7.16 | 5.85 | 5.94 | 6.08 | 5.40 | 5.57 | 5.30 | 5.17 | 4.72 | 4.20 | 5.45 | 6.45 | 6.63 |
| — | — | +5.9% | -1.4% | -11.7% | +20.2% | -2.2% | +15.8% | +32.7% | +5.0% | +12.1% | +17.7% | +14.3% | +32.8% | -2.8% | -19.9% | -28.8% | -40.0% | -29.4% | -19.4% | -12.3% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 91.8% | -86.7% | 88.7% | 88.3% | 89.5% | 92.2% | 97.3% | 89.5% | 93.7% | 99.7% | 97.5% | 94.4% | 96.6% | 97.8% | 95.0% | 97.3% | 102.4% | 102.0% | 100.1% | 99.9% | 96.8% |
| — | -194.0% | -8.8% | -1.4% | -4.4% | -7.5% | -0.2% | -5.2% | -3.0% | +2.0% | +2.6% | -2.9% | -5.7% | -4.1% | -5.1% | -2.6% | +5.9% | +6.5% | +5.2% | +3.7% | +14.0% | |
| Operating Margin | 70.8% | -66.5% | 68.1% | 67.1% | 69.2% | 71.1% | 75.8% | 66.6% | 71.8% | 73.2% | 73.3% | 69.5% | 72.4% | 72.9% | 70.3% | 71.2% | 75.5% | 72.9% | 68.0% | 62.4% | 62.4% |
| — | -193.5% | -10.2% | +0.8% | -3.7% | -2.8% | +3.4% | -4.2% | -0.8% | +0.4% | +4.3% | -2.4% | -4.1% | -0.0% | +3.4% | +14.0% | +20.9% | +20.2% | +15.9% | +10.0% | +35.8% | |
| Net Margin | 55.1% | 56.3% | 54.1% | 52.2% | 53.7% | 55.3% | 59.2% | 51.8% | 55.9% | 56.8% | 57.0% | 55.1% | 56.7% | 56.3% | 54.4% | 54.8% | 58.8% | 56.6% | 53.1% | 48.3% | 48.5% |
| — | +1.8% | -8.5% | +0.9% | -3.9% | -2.6% | +3.9% | -6.1% | -1.4% | +0.9% | +4.7% | +0.6% | -3.7% | -0.6% | +2.6% | +13.3% | +21.3% | +19.5% | +15.4% | +8.7% | +36.4% |
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 16.2% | 0.0% | 0.0% | 3.7% | 3.9% | 4.1% | 4.5% | 3.9% | 4.4% | 4.6% | 4.6% | 4.5% | 4.7% | 4.6% | 4.5% | 4.6% | 5.0% | 4.9% | 4.4% | 3.9% | 4.0% |
| — | -99.9% | -99.8% | -5.5% | -11.1% | -11.4% | -0.9% | -13.0% | -7.7% | -1.5% | +1.7% | -3.4% | -5.8% | -5.8% | +2.7% | +18.3% | +24.5% | +21.7% | +13.5% | +8.9% | +35.9% | |
| ROA | 10.8% | 0.0% | 0.0% | 2.5% | 2.6% | 2.7% | 3.0% | 2.6% | 2.9% | 3.0% | 3.0% | 2.9% | 3.1% | 3.0% | 2.9% | 3.0% | 3.2% | 3.1% | 2.8% | 2.5% | 2.6% |
| — | -99.9% | -99.8% | -3.6% | -9.2% | -9.5% | +0.6% | -11.7% | -6.2% | -0.0% | +3.6% | -1.3% | -3.9% | -3.7% | +4.1% | +18.8% | +25.2% | +22.4% | +14.3% | +9.9% | +38.4% | |
| ROIC | 13.5% | -0.0% | 0.0% | 3.2% | 3.3% | 3.4% | 3.8% | 3.3% | 3.7% | 3.8% | 3.8% | 3.7% | 3.9% | 3.8% | 3.6% | 3.8% | 4.1% | 4.0% | 3.5% | 3.2% | 3.2% |
| — | -100.1% | -99.8% | -4.2% | -9.0% | -10.8% | -2.3% | -11.5% | -6.7% | +0.8% | +6.4% | -1.5% | -2.9% | -4.6% | +2.5% | +19.3% | +25.9% | +24.8% | +15.2% | +8.0% | +15.2% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.16 | — | 0.00 | 0.16 | 0.17 | 0.17 | 0.18 | 0.19 | 0.19 | 0.20 | 0.20 | 0.21 | 0.22 | 0.23 | 0.23 | 0.25 | 0.26 | 0.26 | 0.26 | 0.25 | 0.26 |
| — | — | -99.9% | -14.1% | -12.3% | -15.1% | -11.0% | -9.3% | -14.8% | -10.7% | -13.4% | -15.9% | -14.5% | -12.5% | -9.7% | -2.6% | -0.3% | -3.9% | -9.8% | -12.2% | -13.5% | |
| Debt / EBITDA | 0.82 | — | 3.28 | 3.37 | 3.29 | 3.29 | 3.10 | 3.65 | 3.39 | 3.41 | 3.39 | 3.67 | 3.61 | 3.71 | 4.01 | 4.05 | 3.90 | 3.95 | 4.40 | 4.86 | 4.91 |
| — | — | +5.8% | -7.7% | -2.9% | -3.4% | -8.6% | -0.8% | -6.0% | -8.3% | -15.5% | -9.4% | -7.5% | -6.0% | -8.9% | -16.6% | -20.6% | -23.5% | -21.7% | -20.7% | -35.3% | |
| Current Ratio | 1.90 | 0.40 | 0.39 | 1.90 | 1.90 | 1.86 | 1.70 | 1.81 | 1.76 | — | — | 38.14 | — | 28.44 | 8.26 | 16.90 | 12.62 | 28.10 | 13.05 | 29.39 | 9.56 |
| — | -78.7% | -76.9% | +5.3% | +7.7% | — | — | -95.3% | — | — | — | +125.7% | — | +1.2% | -36.7% | -42.5% | +32.0% | +9.9% | — | — | — | |
| Quick Ratio | 1.90 | 0.40 | 0.39 | 1.90 | 1.90 | 1.86 | 1.70 | 1.81 | 1.76 | — | — | 38.14 | — | 28.44 | 8.26 | 16.90 | 12.62 | 28.10 | 13.05 | 29.39 | 9.56 |
| — | -78.7% | -76.9% | +5.3% | +7.7% | — | — | -95.3% | — | — | — | +125.7% | — | +1.2% | -36.7% | -42.5% | +32.0% | +9.9% | — | — | — | |
| Interest Coverage | 18.55 | -0.01 | 18.58 | 17.98 | 18.36 | 18.37 | 19.49 | 16.61 | 17.86 | 9.08 | 15.25 | 14.04 | 14.31 | 13.93 | 12.96 | 12.80 | 13.27 | 13.07 | 11.79 | 10.74 | 10.77 |
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Includes 30+ ratios · 47 years · Updated daily
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Quick answers to the most common questions about buying NMIH stock.
NMI Holdings, Inc.'s current P/E is 7.9x. The average P/E over the last 4 quarters is 7.8x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
NMI Holdings, Inc.'s current operating margin is 70.8%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking NMI Holdings, Inc.'s business trajectory between earnings reports.