NMI Holdings, Inc. (NMIH) Revenue History
Annual and quarterly revenue from 2012 to present
NMIH Revenue Over Time (2012–2025)
NMIH Revenue Growth History
13 of 13 years with positive growth- FY2012 revenue growth
- N/A
- FY2013 revenue growth
- +1857.7%
- FY2014 revenue growth
- +299.4%
- FY2015 revenue growth
- +150.0%
- FY2016 revenue growth
- +119.6%
- FY2017 revenue growth
- +46.5%
- FY2018 revenue growth
- +53.2%
- FY2019 revenue growth
- +35.3%
- FY2020 revenue growth
- +17.9%
- FY2021 revenue growth
- +11.3%
- FY2022 revenue growth
- +8.0%
- FY2023 revenue growth
- +10.4%
- FY2024 revenue growth
- +12.4%
- FY2025 revenue growth
- +8.4%
| Quarter | Revenue | YoY |
|---|---|---|
| Q4 2025 | $180.5M | +8.4% |
| Q3 2025 | $178.7M | +7.6% |
| Q2 2025 | $173.8M | +7.2% |
| Q1 2025 | $173.2M | +10.9% |
| Q4 2024 | $166.5M | +10.0% |
| Q3 2024 | $166.1M | +12.1% |
| Q2 2024 | $162.1M | +13.6% |
| Q1 2024 | $156.3M | +14.2% |
Multi-year avg. share of annual revenue by fiscal quarter
NMIH Revenue Analysis (2012–2025)
Current Revenue & Growth
As of June 21, 2026, NMI Holdings, Inc. (NMIH) generated trailing twelve-month (TTM) revenue of $706.2 million, reflecting solid growth of +8.4% year-over-year. The most recent quarter (Q4 2025) recorded $180.5 million in revenue, up 1.0% sequentially.
Historical Growth Trajectory
NMIH's 5-year compound annual growth rate (CAGR) stands at +10.1%, indicating consistent double-digit revenue growth. The 3-year CAGR of +10.4% is in line with the 5-year average, suggesting consistent growth. NMI Holdings, Inc.'s highest annual revenue of $705.6 million was recorded in 2025, an all-time high.
Peer Comparison
Compared to Financial Services sector peers — including MTG (-1.2% YoY), RDN (+9.5% YoY), and ESNT (-0.9% YoY) — NMIH has outperformed the peer group in revenue growth. Compare NMIH vs MTG →
NMIH Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| NMIHCurrent | $706M | +8.4% | +10.1% | 70.8% | |
 MTG | $1.2B | -1.2% | +0.2% | 76.5% | |
 RDN | $1.2B | +9.5% | -2.8% | 61.2% | |
 ESNT | $1.3B | -0.9% | +5.7% | 65.2% | |
 PFSI | $4.4B | - | - | 34.6% | |
 ACT | $1.2B | +1.8% | +2.1% | 69.8% |
NMIH Historical Revenue Data (2012–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $705.6M | +8.4% | $647.9M | 91.8% | $499.8M | 70.8% |
| 2024 | $651.0M | +12.4% | $618.7M | 95.0% | $463.4M | 71.2% |
| 2023 | $579.0M | +10.4% | $555.6M | 96.0% | $412.7M | 71.3% |
| 2022 | $524.5M | +8.0% | $527.0M | 100.5% | $377.3M | 71.9% |
| 2021 | $485.6M | +11.3% | $470.8M | 96.9% | $296.7M | 61.1% |
| 2020 | $436.2M | +17.9% | $374.1M | 85.8% | $218.1M | 50.0% |
| 2019 | $370.1M | +35.3% | $355.4M | 96.0% | $216.7M | 58.5% |
| 2018 | $273.6M | +53.2% | $267.9M | 97.9% | $136.0M | 49.7% |
| 2017 | $178.6M | +46.5% | $172.7M | 96.7% | $52.8M | 29.6% |
| 2016 | $121.9M | +119.6% | $119.5M | 98.0% | $11.5M | 9.4% |
| 2015 | $55.5M | +150.0% | $54.9M | 98.8% | $-27,793,000 | -50.1% |
| 2014 | $22.2M | +299.4% | $21.8M | 97.9% | $-51,292,000 | -231.0% |
| 2013 | $5.6M | +1857.7% | $5.6M | 100.0% | $-55,184,000 | -992.5% |
| 2012 | $284K | - | $284K | 100.0% | $-27,491,000 | -9679.9% |
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
14+ years return with dividends reinvested.
DCA Calculator
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Peer Comparison
Compare growth, multiples, and margins vs sector.
NMIH — Frequently Asked Questions
Quick answers to the most common questions about buying NMIH stock.
Is NMIH's revenue growth accelerating or slowing?
NMIH revenue growth is holding steady at +8.4% year-over-year. TTM revenue is $706M. The current growth rate closely tracks the 5-year CAGR of +10.1%, signalling consistent execution.
What is NMIH's revenue history from 2012 to 2026?
NMI Holdings, Inc. (NMIH) revenue history spans 2012 to 2026. TTM revenue as of 2026 is $706M, growing at +8.4% YoY. The 5-year CAGR is +10.1%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is NMIH's long-term revenue growth rate (CAGR)?
NMI Holdings, Inc.'s 5-year revenue CAGR of +10.1% reflects the sustained nature of its business expansion. As of 2026, the current YoY growth rate of +8.4% is in line with this long-term average. CAGR is the most reliable measure of sustained revenue momentum for NMIH.
Why does NMIH's quarterly revenue fluctuate?
NMIH quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. NMI Holdings, Inc.'s revenue data from 2012 to 2026 shows full historical quarterly detail on this page.
How is NMIH's revenue distributed by segment?
NMIH reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does NMIH's revenue compare to industry peers?
NMI Holdings, Inc. (NMIH) with TTM revenue of $706M and +8.4% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.