NI Holdings, Inc.(NODK)Earnings, Financials & Key Ratios

NODK•NASDAQ•Insurance & Managed Care

Price updated Jun 19, 2026

SectorFinancial Services IndustryProperty & Casualty Insurance Sub-IndustryPersonal auto and homeowners insurers

AboutNI Holdings, Inc. underwrites property and casualty insurance products in the United States. The company's products include private passenger auto, non-standard automobile, homeowners, farm owners, crop hail and multi-peril crop, and liability insurance policies. The company was founded in 1946 and is headquartered in Fargo, North Dakota. NI Holdings, Inc. is a subsidiary of Nodak Mutual Group, Inc.Show more

Revenue$285M-12.3%
Combined Ratio104.33%+7.7%
Net Income-$10M-71.8%
Return on Equity-4.29%-75.4%
Medical Cost Ratio70.44%-17.8%
Operating Margin-4.33%-238.6%
Net Margin-3.65%-96.0%
ROA-2.02%-96.6%
Equity / Assets47.5%+2.2%

NODK Key Insights

NI Holdings, Inc. (NODK) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

✓Trading near 52-week high
✓Trading at only 1.4x book value

✗Weaknesses

No significant weaknesses identified

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

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NODK Price & Volume

NI Holdings, Inc. (NODK) stock price & volume — 10-year historical chart

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NODK Growth Metrics

NI Holdings, Inc. (NODK) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years6.94%

5 Years-1.43%

3 Years2.1%

TTM-15.19%

Profit CAGR

10 Years-

5 Years-

3 Years-

TTM27.48%

EPS CAGR

10 Years-

5 Years-

3 Years-

TTM-180%

Return on Capital

10 Years3.18%

5 Years-0.6%

3 Years1.2%

Last Year-4.71%

NODK Recent Earnings

NI Holdings, Inc. (NODK) EPS & revenue vs analyst estimates — last 4 quarters

Full history →

Q2 2026Latest

May 8, 2026

Metric

Actual

Est

EPS

$0.60

—

Rev

$60M

—

Q2 2026

Mar 6, 2026

Metric

Actual

Est

EPS

$0.15

—

Rev

$61M

—

Q4 2025

Nov 7, 2025

Metric

Actual

Est

EPS

$0.08

—

Rev

$77M

—

Q3 2025

Aug 8, 2025

Metric

Actual

Est

EPS

$0.57

—

Rev

$76M

—

Quarter	Date	EPS (Act vs Est)	Revenue (Act vs Est)
Q2 2026Latest	May 8, 2026	$0.60	$60M
Q2 2026	Mar 6, 2026	$0.15	$61M
Q4 2025	Nov 7, 2025	$0.08	$77M
Q3 2025	Aug 8, 2025	$0.57	$76M

Based on last 12 quarters of dataView full earnings history →

Company	Market Cap	Stock Price	P/E Ratio (TTM)	Revenue Growth 1Y	Net Margin	Return on Equity (ROE)	Debt / Equity
ACGLArch Capital Group Ltd.Direct Competitor	32.48B	91.18	7.85	14.27%	22.07%	19.02%	0.11
PLMRPalomar Holdings, Inc.Direct Competitor	2.96B	111.70	15.58	58.16%	20.15%	21.74%	0.01
HRTGHeritage Insurance Holdings, Inc.Direct Competitor	706.24M	23.27	3.68	3.71%	25.99%	43.68%	0.20
DGICADonegal Group Inc.Direct Competitor	635.25M	17.49	8.02	-1.17%	8.11%	12.91%	0.05
ERIEErie Indemnity CompanyProduct Competitor	10.21B	221.14	20.82	7.17%	13.2%	25.03%
KMPRKemper CorporationProduct Competitor	1.47B	25.03	10.93	3.62%	0.89%	1.53%	0.38
SIGISelective Insurance Group, Inc.Product Competitor	5.55B	92.31	12.34	9.78%	8.39%	12.93%	0.25
CINFCincinnati Financial CorporationProduct Competitor	26.5B	170.20	11.22	11.41%	21.34%	17.98%	0.06

Compare NODK vs Peers

NI Holdings, Inc. (NODK) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs ACGL

Most directly comparable listed peer for NODK.

Scale Benchmark

vs MMC

Larger-name benchmark to compare NODK against a more recognizable public peer.

Peer Set

Compare Top 5

vs ACGL, PLMR, HRTG, DGICA

NODK Income Statement

NI Holdings, Inc. (NODK) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily

Metric	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25	TTM
Revenue	189.14M	212.37M	270.78M	306.36M	323.97M	267.78M	304.02M	325.2M	285.05M	273.22M
Revenue Growth %	15.51%	12.28%	27.5%	13.14%	5.75%	-17.34%	13.53%	6.97%	-12.35%	-15.19%
Medical Costs & Claims	122.79M	115.08M	167.18M	219.94M	280.95M	295.36M	254.15M	278.72M	200.79M	229.08M
Medical Cost Ratio %	64.92%	54.19%	61.74%	71.79%	86.72%	110.3%	83.6%	85.71%	70.44%	83.85%
Gross Profit	66.35M▲ 0%	97.29M▲ 46.6%	103.6M▲ 6.5%	86.41M▼ 16.6%	43.02M▼ 50.2%	-27.57M▼ 164.1%	49.87M▲ 280.9%	46.48M▼ 6.8%	84.26M▲ 81.3%	44.13M▲ 0%
Gross Margin %	35.08%	45.81%	38.26%	28.21%	13.28%	-10.3%	16.4%	14.29%	29.56%	16.15%
Gross Profit Growth %	167.35%	46.64%	6.49%	-16.59%	-50.21%	-164.09%	280.88%	-6.8%	81.28%	-
Operating Expenses	44.34M	58.12M	69.79M	33.6M	31.71M	25.3M	29.33M	36.34M	96.59M	48.5M
OpEx / Revenue %	23.44%	27.37%	25.77%	10.97%	9.79%	9.45%	9.65%	11.17%	33.89%	17.75%
Depreciation & Amortization	543K	4M	2.25M	5.93M	1.17M	654K	725K	681K	794K	789K
Combined Ratio %	88.37%	81.56%	87.51%	82.76%	96.51%	119.75%	93.24%	96.88%	104.33%	101.6%
Operating Income	22.01M▲ 0%	39.16M▲ 78.0%	33.81M▼ 13.7%	52.82M▲ 56.2%	11.31M▼ 78.6%	-52.88M▼ 567.7%	20.55M▲ 138.9%	10.14M▼ 50.6%	-12.33M▼ 221.5%	-4.37M▲ 0%
Operating Margin %	11.63%	18.44%	12.49%	17.24%	3.49%	-19.75%	6.76%	3.12%	-4.33%	-1.6%
Operating Income Growth %	259.75%	77.97%	-13.67%	56.21%	-78.59%	-567.68%	138.86%	-50.63%	-221.53%	-
EBITDA	22.55M	43.16M	36.06M	58.75M	12.47M	-52.22M	21.27M	10.83M	-11.54M	-3.58M
EBITDA Margin %	11.92%	20.32%	13.32%	19.18%	3.85%	-19.5%	7%	3.33%	-4.05%	-1.31%
Interest Expense	0	0	0	0	0	0	0	0	0	0
Non-Operating Income	0	0	0	0	0	0	0	0	0	0
Pretax Income	22.01M▲ 0%	39.16M▲ 78.0%	33.81M▼ 13.7%	52.82M▲ 56.2%	11.31M▼ 78.6%	-52.88M▼ 567.7%	20.55M▲ 138.9%	10.14M▼ 50.6%	-12.33M▼ 221.5%	-4.37M▲ 0%
Pretax Margin %	11.63%	18.44%	12.49%	17.24%	3.49%	-19.75%	6.76%	3.12%	-4.33%	-1.6%
Income Tax	6.39M	7.92M	7.31M	11.47M	2.97M	-14.19M	716K	3.54M	-1.92M	-3K
Effective Tax Rate %	29.06%	20.22%	21.62%	21.72%	26.3%	26.84%	3.48%	34.94%	15.54%	0.07%
Net Income	15.99M▲ 0%	31.08M▲ 94.4%	26.4M▼ 15.1%	40.39M▲ 53.0%	8.42M▼ 79.2%	-53.1M▼ 730.9%	-5.48M▲ 89.7%	-6.06M▼ 10.7%	-10.41M▼ 71.8%	-4.37M▲ 0%
Net Margin %	8.45%	14.64%	9.75%	13.18%	2.6%	-19.83%	-1.8%	-1.86%	-3.65%	-1.6%
Net Income Growth %	251.37%	94.37%	-15.06%	52.98%	-79.16%	-730.89%	89.69%	-10.66%	-71.83%	27.48%
EPS (Diluted)	0.71▲ 0%	1.39▲ 95.8%	1.19▼ 14.4%	1.84▲ 54.6%	0.39▼ 78.8%	-2.49▼ 738.5%	-0.26▲ 89.6%	0.24▲ 192.3%	-0.50▼ 308.3%	-0.21▲ 0%
EPS Growth %	255%	95.77%	-14.39%	54.62%	-78.8%	-738.46%	89.56%	192.31%	-308.33%	-180%
EPS (Basic)	0.71	1.39	1.19	1.86	0.39	-2.49	-0.26	-0.29	-0.50	-
Diluted Shares Outstanding	22.51M	22.39M	22.27M	21.94M	21.66M	21.33M	21.16M	21.09M	20.99M	20.94M

NODK Balance Sheet

NI Holdings, Inc. (NODK) balance sheet — assets, liabilities & shareholders' equity

Metric	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25	TTM
Total Assets	376.99M	458.49M	508.16M	617.6M	651.78M	614.23M	654.89M	526.54M	506M	492.11M
Asset Growth %	35.27%	21.62%	10.83%	21.54%	5.53%	-5.76%	6.62%	-19.6%	-3.9%	-4.51%
Total Investment Assets	284.32M	303.47M	357.79M	393.29M	444.35M	357.72M	291.4M	334.16M	326.96M	4M
Long-Term Investments	284.32M	303.47M	355.88M	390.36M	79.69M	229.68M	2.01M	193.13M	196.05M	925.22M
Short-Term Investments	0	0	295.94M	320.41M	364.65M	128.04M	289.4M	141.04M	130.92M	0
Total Current Assets	352.17M	425.11M	0	0	510.81M	466.9M	0	281.05M	265.72M	97.93M
Cash & Equivalents	27.59M	68.95M	62.13M	101.08M	70.62M	47M	41.04M	50.93M	51.72M	57.72M
Receivables	0	0	54.97M	63.97M	73.02M	62.17M	78.61M	86.45M	83.09M	415.77M
Other Current Assets	0	0	-413.04M	-485.46M	2.52M	296.32M	-26.87M	2.63M	0	0
Goodwill & Intangibles	2.63M	4.62M	2.91M	18.19M	17.72M	17.25M	10.04M	100K	19.21M	67.96M
Goodwill	2.63M	-12.87M	2.63M	9.38M	9.38M	9.38M	2.63M	0	0	0
Intangible Assets	0	17.49M	284K	8.81M	8.34M	7.87M	7.41M	100K	19.21M	0
PP&E (Net)	5.88M	6.98M	7.69M	9.9M	9.87M	9.84M	9.9M	7.55M	6.76M	6.62M
Other Assets	-236K	-458K	-366.48M	-418.45M	33.68M	-229.68M	614.77M	44.72M	12.12M	-317.19M
Total Liabilities	121.42M	182.74M	198.36M	268.73M	304.37M	361.02M	404.49M	281.91M	265.67M	241.91M
Total Debt	0	0	0	0	0	1.84M	2.06M	1.82M	0	0
Net Debt	-27.59M	-68.95M	-62.13M	-101.08M	-70.62M	-45.16M	-38.97M	-49.11M	-51.72M	-57.72M
Long-Term Debt	0	0	0	0	0	0	0	0	0	0
Short-Term Debt	0	0	0	0	0	359K	501K	513K	0	369K
Total Current Liabilities	428K	274K	0	0	0	0	245.28M	263.79M	245.23M	8.95M
Accounts Payable	428K	0	170K	0	326K	0	0	0	878K	0
Deferred Revenue	0	0	0	0	0	0	0	0	106.5M	0
Other Current Liabilities	-9.72M	-10.14M	-11.24M	-34.86M	-31.41M	-22.41M	244.7M	263.27M	137.85M	8.58M
Deferred Taxes	1000K	711K	1000K	1000K	1000K	1000K	1000K	1000K	0	0
Other Liabilities	121.42M	182.74M	-4.59M	-8.76M	277.66M	321.97M	388.27M	268.04M	20.43M	232.97M
Total Equity	255.57M▲ 0%	275.75M▲ 7.9%	309.8M▲ 12.3%	348.87M▲ 12.6%	347.41M▼ 0.4%	253.21M▼ 27.1%	250.4M▼ 1.1%	244.63M▼ 2.3%	240.34M▼ 1.8%	250.2M▲ 0%
Equity Growth %	66.59%	7.9%	12.35%	12.61%	-0.42%	-27.12%	-1.11%	-2.3%	-1.76%	0.83%
Shareholders Equity	252.4M	272.49M	306.3M	344.33M	343.2M	250.98M	247.64M	244.63M	240.34M	250.2M
Minority Interest	3.18M	3.26M	3.5M	4.54M	4.21M	2.23M	2.76M	0	0	0
Retained Earnings	152.87M	183.95M	218.48M	258.74M	267.21M	214.12M	208.38M	201.58M	191.07M	203.48M
Common Stock	230K	230K	230K	230K	230K	230K	230K	230K	230K	230K
Accumulated OCI	16M	6.38M	5.61M	12.84M	5.24M	-29.29M	-21.38M	-18.23M	-10.6M	-12.5M
Return on Equity (ROE)	7.82%	11.7%	9.02%	12.26%	2.42%	-17.68%	-2.17%	-2.45%	-4.29%	-1.79%
Return on Assets (ROA)	4.88%	7.44%	5.46%	7.18%	1.33%	-8.39%	-0.86%	-1.03%	-2.02%	-0.81%
Equity / Assets	67.79%	60.14%	60.97%	56.49%	53.3%	41.22%	38.24%	46.46%	47.5%	50.84%
Debt / Equity	-	-	-	-	-	0.01x	0.01x	0.01x	-	0.00x
Book Value per Share	11.35	12.32	13.91	15.90	16.04	11.87	11.83	11.60	11.45	11.95
Tangible BV per Share	11.24	12.11	13.78	15.07	15.22	11.06	11.36	11.60	10.53	11.95

NODK Cash Flow Statement

NI Holdings, Inc. (NODK) cash flow — operating, investing & free cash flow history

Metric	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25	TTM
Cash from Operations	18.43M	20.95M	25.66M	51.01M	29.17M	-30.39M	25.97M	38.51M	2M	-27.03M
Operating CF Growth %	152.16%	13.73%	22.48%	98.75%	-42.82%	-204.18%	185.46%	48.27%	-94.8%	-372.72%
Operating CF / Revenue %	9.74%	9.87%	9.48%	16.65%	9%	-11.35%	8.54%	11.84%	0.7%	-9.89%
Net Income	15.61M	31.24M	26.5M	40.39M	8.42M	-53.77M	-5.48M	6.6M	-10.41M	-4.37M
Depreciation & Amortization	543K	4M	2.25M	5.93M	1.17M	54.26M	1.28M	0	0	-156K
Stock-Based Compensation	423K	1.23M	2.02M	2.67M	2.87M	310K	1.62M	0	0	-187K
Deferred Taxes	-2.07M	-692K	1.87M	0	-1.31M	-3.97M	-1.88M	0	0	1.91M
Other Non-Cash Items	-1.15M	-11.02M	-16.13M	-19.13M	-14.43M	-43.34M	1.52M	21.46M	23.59M	-6.52M
Working Capital Changes	5.06M	-3.81M	9.16M	21.15M	32.46M	16.13M	28.9M	10.45M	-11.17M	-17.71M
Cash from Investing	-91.86M	23.4M	-30.46M	200K	-48.15M	25.05M	-8.81M	-4.54M	-2M	31.23M
Capital Expenditures	-1.33M	-1.55M	-1.29M	-543K	-696K	-1.16M	-974K	-991K	0	-22K
Acquisitions	11.13M	27.48M	0	-703K	4.51M	26.2M	0	12.55M	0	0
Purchase of Investments	-126.31M	-87.43M	-109.05M	-113.87M	-165.97M	-78.63M	-85.83M	-70.39M	-5.53M	-5.16M
Sale/Maturity of Investments	35.71M	84.87M	79.89M	115.59M	118.52M	104.17M	77.84M	51.22M	3.54M	12.11M
Other Investing	-11.04M	18K	0	-275K	-4.51M	-25.54M	147K	3.07M	-15K	24.31M
Cash from Financing	82.71M	-3M	-2.02M	-12.27M	-11.47M	-18.28M	-7.47M	-3.64M	-2.67M	-3.69M
Dividends Paid	0	0	0	-6M	0	-3M	0	0	0	0
Share Repurchases	-8.04M	-3M	-2.01M	-12.23M	-4.32M	-4.18M	-7.28M	-158K	-2.67M	-2.4M
Stock Issued	93.14M	0	0	0	0	0	0	0	0	0
Debt Issuance (Net)	0	0	0	0	0	0	-16K	-99K	-108K	-110K
Other Financing	-2.4M	0	-19K	5.97M	-7.16M	-11.1M	-172K	-3.39M	108K	-1.18M
Net Change in Cash	9.28M▲ 0%	41.36M▲ 345.8%	-6.82M▼ 116.5%	38.95M▲ 671.2%	-30.45M▼ 178.2%	-23.62M▲ 22.4%	9.69M▲ 141.0%	9.89M▲ 2.1%	-2.67M▼ 127.0%	515K▲ 0%
Exchange Rate Effect	0	0	0	0	0	0	0	-20.43M	0	0
Cash at Beginning	18.32M	27.59M	68.95M	62.13M	101.08M	70.62M	47M	41.04M	3.35M	51.72M
Cash at End	27.59M	68.95M	62.13M	101.08M	70.62M	47M	56.69M	50.93M	678K	57.72M
Free Cash Flow	17.09M▲ 0%	19.4M▲ 13.5%	24.38M▲ 25.6%	50.47M▲ 107.0%	28.47M▼ 43.6%	-31.55M▼ 210.8%	25M▲ 179.2%	37.52M▲ 50.1%	1.79M▼ 95.2%	-27.05M▲ 0%
FCF Growth %	152.86%	13.53%	25.62%	107.04%	-43.58%	-210.81%	179.23%	50.08%	-95.24%	-186.45%
FCF Margin %	9.04%	9.14%	9%	16.47%	8.79%	-11.78%	8.22%	11.54%	0.63%	-9.9%
FCF per Share	0.76	0.87	1.09	2.3	1.31	-1.48	1.18	1.78	0.09	-1.29

NODK Key Ratios

NI Holdings, Inc. (NODK) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025	TTM
Combined Ratio	88.37%	81.56%	87.51%	82.76%	96.51%	119.75%	93.24%	96.88%	104.33%	101.6%
Medical Cost Ratio	64.92%	54.19%	61.74%	71.79%	86.72%	110.3%	83.6%	85.71%	70.44%	83.85%
Return on Equity (ROE)	7.82%	11.7%	9.02%	12.26%	2.42%	-17.68%	-2.17%	-2.45%	-4.29%	-1.79%
Return on Assets (ROA)	4.88%	7.44%	5.46%	7.18%	1.33%	-8.39%	-0.86%	-1.03%	-2.02%	-0.81%
Equity / Assets	67.79%	60.14%	60.97%	56.49%	53.3%	41.22%	38.24%	46.46%	47.5%	50.84%
Book Value / Share	11.35	12.32	13.91	15.9	16.04	11.87	11.83	11.6	11.45	11.95
Debt / Equity	-	-	-	-	-	0.01x	0.01x	0.01x	-	0.00x
Revenue Growth	15.51%	12.28%	27.5%	13.14%	5.75%	-17.34%	13.53%	6.97%	-12.35%	-15.19%

NODK SEC Filings & Documents

NI Holdings, Inc. (NODK) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

Material company update

May 8, 2026·SEC

Material company update

Mar 6, 2026·SEC

Material company update

Feb 23, 2026·SEC

10-K Annual Reports

FY 2026

Mar 6, 2026·SEC

FY 2025

Mar 7, 2025·SEC

FY 2024

Mar 15, 2024·SEC

10-Q Quarterly Reports

FY 2026

May 8, 2026·SEC

FY 2025

Nov 7, 2025·SEC

FY 2025

Aug 8, 2025·SEC

NODK Frequently Asked Questions

NI Holdings, Inc. (NODK) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

NI Holdings, Inc. (NODK) saw revenue decline by 12.3% over the past year.

NI Holdings, Inc. (NODK) reported a net loss of $4.4M for fiscal year 2025.

Dividend & Returns

NI Holdings, Inc. (NODK) has a return on equity (ROE) of -4.3%. Negative ROE indicates the company is unprofitable.

Industry Metrics

NI Holdings, Inc. (NODK) has a combined ratio of 104.3%. A ratio above 100% means claims and expenses exceed premiums.

What if you invested $1,000 in NODK back in 2014?

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Quarter

Date

EPS (Act vs Est)

Revenue (Act vs Est)

Q2 2026Latest

May 8, 2026

$0.60

$60M

Q2 2026

Mar 6, 2026

$0.15

$61M

Q4 2025

Nov 7, 2025

$0.08

$77M

Q3 2025

Aug 8, 2025

$0.57

$76M

Metric

Dec'17

Dec'18

Dec'19

Dec'20

Dec'21

Dec'22

Dec'23

Dec'24

Dec'25

TTM

Revenue

189.14M

212.37M

270.78M

306.36M

323.97M

267.78M

304.02M

325.2M

285.05M

273.22M

Revenue Growth %

15.51%

12.28%

27.5%

13.14%

5.75%

-17.34%

13.53%

6.97%

-12.35%

-15.19%

Medical Costs & Claims

122.79M

115.08M

167.18M

219.94M

280.95M

295.36M

254.15M

278.72M

200.79M

229.08M

Medical Cost Ratio %

64.92%

54.19%

61.74%

71.79%

86.72%

110.3%

83.6%

85.71%

70.44%

83.85%

Gross Profit

66.35M▲ 0%

97.29M▲ 46.6%

103.6M▲ 6.5%

86.41M▼ 16.6%

43.02M▼ 50.2%

-27.57M▼ 164.1%

49.87M▲ 280.9%

46.48M▼ 6.8%

84.26M▲ 81.3%

44.13M▲ 0%

Gross Margin %

35.08%

45.81%

38.26%

28.21%

13.28%

-10.3%

16.4%

14.29%

29.56%

16.15%

Gross Profit Growth %

167.35%

46.64%

6.49%

-16.59%

-50.21%

-164.09%

280.88%

-6.8%

81.28%

Operating Expenses

44.34M

58.12M

69.79M

33.6M

31.71M

25.3M

29.33M

36.34M

96.59M

48.5M

OpEx / Revenue %

23.44%

27.37%

25.77%

10.97%

9.79%

9.45%

9.65%

11.17%

33.89%

17.75%

Depreciation & Amortization

543K

2.25M

5.93M

1.17M

654K

725K

681K

794K

789K

Combined Ratio %

88.37%

81.56%

87.51%

82.76%

96.51%

119.75%

93.24%

96.88%

104.33%

101.6%

Operating Income

22.01M▲ 0%

39.16M▲ 78.0%

33.81M▼ 13.7%

52.82M▲ 56.2%

11.31M▼ 78.6%

-52.88M▼ 567.7%

20.55M▲ 138.9%

10.14M▼ 50.6%

-12.33M▼ 221.5%

-4.37M▲ 0%

Operating Margin %

11.63%

18.44%

12.49%

17.24%

3.49%

-19.75%

6.76%

3.12%

-4.33%

-1.6%

Operating Income Growth %

259.75%

77.97%

-13.67%

56.21%

-78.59%

-567.68%

138.86%

-50.63%

-221.53%

EBITDA

22.55M

43.16M

36.06M

58.75M

12.47M

-52.22M

21.27M

10.83M

-11.54M

-3.58M

EBITDA Margin %

11.92%

20.32%

13.32%

19.18%

3.85%

-19.5%

3.33%

-4.05%

-1.31%

Interest Expense

Non-Operating Income

Pretax Income

22.01M▲ 0%

39.16M▲ 78.0%

33.81M▼ 13.7%

52.82M▲ 56.2%

11.31M▼ 78.6%

-52.88M▼ 567.7%

20.55M▲ 138.9%

10.14M▼ 50.6%

-12.33M▼ 221.5%

-4.37M▲ 0%

Pretax Margin %

11.63%

18.44%

12.49%

17.24%

3.49%

-19.75%

6.76%

3.12%

-4.33%

-1.6%

Income Tax

6.39M

7.92M

7.31M

11.47M

2.97M

-14.19M

716K

3.54M

-1.92M

-3K

Effective Tax Rate %

29.06%

20.22%

21.62%

21.72%

26.3%

26.84%

3.48%

34.94%

15.54%

0.07%

Net Income

15.99M▲ 0%

31.08M▲ 94.4%

26.4M▼ 15.1%

40.39M▲ 53.0%

8.42M▼ 79.2%

-53.1M▼ 730.9%

-5.48M▲ 89.7%

-6.06M▼ 10.7%

-10.41M▼ 71.8%

-4.37M▲ 0%

Net Margin %

8.45%

14.64%

9.75%

13.18%

2.6%

-19.83%

-1.8%

-1.86%

-3.65%

-1.6%

Net Income Growth %

251.37%

94.37%

-15.06%

52.98%

-79.16%

-730.89%

89.69%

-10.66%

-71.83%

27.48%

EPS (Diluted)

0.71▲ 0%

1.39▲ 95.8%

1.19▼ 14.4%

1.84▲ 54.6%

0.39▼ 78.8%

-2.49▼ 738.5%

-0.26▲ 89.6%

0.24▲ 192.3%

-0.50▼ 308.3%

-0.21▲ 0%

EPS Growth %

255%

95.77%

-14.39%

54.62%

-78.8%

-738.46%

89.56%

192.31%

-308.33%

-180%

EPS (Basic)

0.71

1.39

1.19

1.86

0.39

-2.49

-0.26

-0.29

-0.50

Diluted Shares Outstanding

22.51M

22.39M

22.27M

21.94M

21.66M

21.33M

21.16M

21.09M

20.99M

20.94M

Metric

Dec'17

Dec'18

Dec'19

Dec'20

Dec'21

Dec'22

Dec'23

Dec'24

Dec'25

TTM

Total Assets

376.99M

458.49M

508.16M

617.6M

651.78M

614.23M

654.89M

526.54M

506M

492.11M

Asset Growth %

35.27%

21.62%

10.83%

21.54%

5.53%

-5.76%

6.62%

-19.6%

-3.9%

-4.51%

Total Investment Assets

284.32M

303.47M

357.79M

393.29M

444.35M

357.72M

291.4M

334.16M

326.96M

Long-Term Investments

284.32M

303.47M

355.88M

390.36M

79.69M

229.68M

2.01M

193.13M

196.05M

925.22M

Short-Term Investments

295.94M

320.41M

364.65M

128.04M

289.4M

141.04M

130.92M

Total Current Assets

352.17M

425.11M

510.81M

466.9M

281.05M

265.72M

97.93M

Cash & Equivalents

27.59M

68.95M

62.13M

101.08M

70.62M

47M

41.04M

50.93M

51.72M

57.72M

Receivables

54.97M

63.97M

73.02M

62.17M

78.61M

86.45M

83.09M

415.77M

Other Current Assets

-413.04M

-485.46M

2.52M

296.32M

-26.87M

2.63M

Goodwill & Intangibles

2.63M

4.62M

2.91M

18.19M

17.72M

17.25M

10.04M

100K

19.21M

67.96M

Goodwill

2.63M

-12.87M

2.63M

9.38M

2.63M

Intangible Assets

17.49M

284K

8.81M

8.34M

7.87M

7.41M

100K

19.21M

PP&E (Net)

5.88M

6.98M

7.69M

9.9M

9.87M

9.84M

9.9M

7.55M

6.76M

6.62M

Other Assets

-236K

-458K

-366.48M

-418.45M

33.68M

-229.68M

614.77M

44.72M

12.12M

-317.19M

Total Liabilities

121.42M

182.74M

198.36M

268.73M

304.37M

361.02M

404.49M

281.91M

265.67M

241.91M

Total Debt

1.84M

2.06M

1.82M

Net Debt

-27.59M

-68.95M

-62.13M

-101.08M

-70.62M

-45.16M

-38.97M

-49.11M

-51.72M

-57.72M

Long-Term Debt

Short-Term Debt

359K

501K

513K

369K

Total Current Liabilities

428K

274K

245.28M

263.79M

245.23M

8.95M

Accounts Payable

428K

170K

326K

878K

Deferred Revenue

106.5M

Other Current Liabilities

-9.72M

-10.14M

-11.24M

-34.86M

-31.41M

-22.41M

244.7M

263.27M

137.85M

8.58M

Deferred Taxes

1000K

711K

1000K

Other Liabilities

121.42M

182.74M

-4.59M

-8.76M

277.66M

321.97M

388.27M

268.04M

20.43M

232.97M

Total Equity

255.57M▲ 0%

275.75M▲ 7.9%

309.8M▲ 12.3%

348.87M▲ 12.6%

347.41M▼ 0.4%

253.21M▼ 27.1%

250.4M▼ 1.1%

244.63M▼ 2.3%

240.34M▼ 1.8%

250.2M▲ 0%

Equity Growth %

66.59%

7.9%

12.35%

12.61%

-0.42%

-27.12%

-1.11%

-2.3%

-1.76%

0.83%

Shareholders Equity

252.4M

272.49M

306.3M

344.33M

343.2M

250.98M

247.64M

244.63M

240.34M

250.2M

Minority Interest

3.18M

3.26M

3.5M

4.54M

4.21M

2.23M

2.76M

Retained Earnings

152.87M

183.95M

218.48M

258.74M

267.21M

214.12M

208.38M

201.58M

191.07M

203.48M

Common Stock

230K

Accumulated OCI

16M

6.38M

5.61M

12.84M

5.24M

-29.29M

-21.38M

-18.23M

-10.6M

-12.5M

Return on Equity (ROE)

7.82%

11.7%

9.02%

12.26%

2.42%

-17.68%

-2.17%

-2.45%

-4.29%

-1.79%

Return on Assets (ROA)

4.88%

7.44%

5.46%

7.18%

1.33%

-8.39%

-0.86%

-1.03%

-2.02%

-0.81%

Equity / Assets

67.79%

60.14%

60.97%

56.49%

53.3%

41.22%

38.24%

46.46%

47.5%

50.84%

Debt / Equity

0.01x

0.00x

Book Value per Share

11.35

12.32

13.91

15.90

16.04

11.87

11.83

11.60

11.45

11.95

Tangible BV per Share

11.24

12.11

13.78

15.07

15.22

11.06

11.36

11.60

10.53

11.95

Metric

Dec'17

Dec'18

Dec'19

Dec'20

Dec'21

Dec'22

Dec'23

Dec'24

Dec'25

TTM

Cash from Operations

18.43M

20.95M

25.66M

51.01M

29.17M

-30.39M

25.97M

38.51M

-27.03M

Operating CF Growth %

152.16%

13.73%

22.48%

98.75%

-42.82%

-204.18%

185.46%

48.27%

-94.8%

-372.72%

Operating CF / Revenue %

9.74%

9.87%

9.48%

16.65%

-11.35%

8.54%

11.84%

0.7%

-9.89%

Net Income

15.61M

31.24M

26.5M

40.39M

8.42M

-53.77M

-5.48M

6.6M

-10.41M

-4.37M

Depreciation & Amortization

543K

2.25M

5.93M

1.17M

54.26M

1.28M

-156K

Stock-Based Compensation

423K

1.23M

2.02M

2.67M

2.87M

310K

1.62M

-187K

Deferred Taxes

-2.07M

-692K

1.87M

-1.31M

-3.97M

-1.88M

1.91M

Other Non-Cash Items

-1.15M

-11.02M

-16.13M

-19.13M

-14.43M

-43.34M

1.52M

21.46M

23.59M

-6.52M

Working Capital Changes

5.06M

-3.81M

9.16M

21.15M

32.46M

16.13M

28.9M

10.45M

-11.17M

-17.71M

Cash from Investing

-91.86M

23.4M

-30.46M

200K

-48.15M

25.05M

-8.81M

-4.54M

-2M

31.23M

Capital Expenditures

-1.33M

-1.55M

-1.29M

-543K

-696K

-1.16M

-974K

-991K

-22K

Acquisitions

11.13M

27.48M

-703K

4.51M

26.2M

12.55M

Purchase of Investments

-126.31M

-87.43M

-109.05M

-113.87M

-165.97M

-78.63M

-85.83M

-70.39M

-5.53M

-5.16M

Sale/Maturity of Investments

35.71M

84.87M

79.89M

115.59M

118.52M

104.17M

77.84M

51.22M

3.54M

12.11M

Other Investing

-11.04M

18K

-275K

-4.51M

-25.54M

147K

3.07M

-15K

24.31M

Cash from Financing

82.71M

-3M

-2.02M

-12.27M

-11.47M

-18.28M

-7.47M

-3.64M

-2.67M

-3.69M

Dividends Paid

-6M

-3M

Share Repurchases

-8.04M

-3M

-2.01M

-12.23M

-4.32M

-4.18M

-7.28M

-158K

-2.67M

-2.4M

Stock Issued

93.14M

Debt Issuance (Net)

-16K

-99K

-108K

-110K

Other Financing

-2.4M

-19K

5.97M

-7.16M

-11.1M

-172K

-3.39M

108K

-1.18M

Net Change in Cash

9.28M▲ 0%

41.36M▲ 345.8%

-6.82M▼ 116.5%

38.95M▲ 671.2%

-30.45M▼ 178.2%

-23.62M▲ 22.4%

9.69M▲ 141.0%

9.89M▲ 2.1%

-2.67M▼ 127.0%

515K▲ 0%

Exchange Rate Effect

-20.43M

Cash at Beginning

18.32M

27.59M

68.95M

62.13M

101.08M

70.62M

47M

41.04M

3.35M

51.72M

Cash at End

27.59M

68.95M

62.13M

101.08M

70.62M

47M

56.69M

50.93M

678K

57.72M

Free Cash Flow

17.09M▲ 0%

19.4M▲ 13.5%

24.38M▲ 25.6%

50.47M▲ 107.0%

28.47M▼ 43.6%

-31.55M▼ 210.8%

25M▲ 179.2%

37.52M▲ 50.1%

1.79M▼ 95.2%

-27.05M▲ 0%

FCF Growth %

152.86%

13.53%

25.62%

107.04%

-43.58%

-210.81%

179.23%

50.08%

-95.24%

-186.45%

FCF Margin %

9.04%

9.14%

16.47%

8.79%

-11.78%

8.22%

11.54%

0.63%

-9.9%

FCF per Share

0.76

0.87

1.09

2.3

1.31

-1.48

1.18

1.78

0.09

-1.29

Metric

2017

2018

2019

2020

2021

2022

2023

2024

2025

TTM

Combined Ratio

88.37%

81.56%

87.51%

82.76%

96.51%

119.75%

93.24%

96.88%

104.33%

101.6%

Medical Cost Ratio

64.92%

54.19%

61.74%

71.79%

86.72%

110.3%

83.6%

85.71%

70.44%

83.85%

Return on Equity (ROE)

7.82%

11.7%

9.02%

12.26%

2.42%

-17.68%

-2.17%

-2.45%

-4.29%

-1.79%

Return on Assets (ROA)

4.88%

7.44%

5.46%

7.18%

1.33%

-8.39%

-0.86%

-1.03%

-2.02%

-0.81%

Equity / Assets

67.79%

60.14%

60.97%

56.49%

53.3%

41.22%

38.24%

46.46%

47.5%

50.84%

Book Value / Share

11.35

12.32

13.91

15.9

16.04

11.87

11.83

11.6

11.45

11.95

Debt / Equity

0.01x

0.00x

Revenue Growth

15.51%

12.28%

27.5%

13.14%

5.75%

-17.34%

13.53%

6.97%

-12.35%

-15.19%

NI Holdings, Inc.(NODK)Earnings, Financials & Key Ratios

NODK Key Insights

✓Strengths

✗Weaknesses

NODK Price & Volume

NODK Growth Metrics

Revenue CAGR

Profit CAGR

EPS CAGR

Return on Capital

NODK Recent Earnings

NODK Peer Comparison

Compare NODK vs Peers

vs ACGL

vs MMC

Compare Top 5

NODK Income Statement

NODK Balance Sheet

NODK Cash Flow Statement

NODK Key Ratios

NODK SEC Filings & Documents

8-K Announcements

10-K Annual Reports

10-Q Quarterly Reports

NODK Frequently Asked Questions

NI Holdings, Inc.(NODK)Earnings, Financials & Key Ratios

NODK Key Insights

✓Strengths

✗Weaknesses

NODK Price & Volume

NODK Growth Metrics

Revenue CAGR

Profit CAGR

EPS CAGR

Return on Capital

NODK Recent Earnings

NODK Peer Comparison

Compare NODK vs Peers

vs ACGL

vs MMC

Compare Top 5

NODK Income Statement

NODK Balance Sheet

NODK Cash Flow Statement

NODK Key Ratios

NODK SEC Filings & Documents

8-K Announcements

10-K Annual Reports

10-Q Quarterly Reports

NODK Frequently Asked Questions