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NI Holdings, Inc.(NODK)Earnings, Financials & Key Ratios
NODK•NASDAQ•Insurance & Managed Care
$12.90
$266M mkt cap·Price updated May 6, 2026
SectorFinancial ServicesIndustryProperty & Casualty InsuranceSub-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$0-100.0%
- Net Income$0+100.0%
- Equity / Assets100%+115.2%
NODK Key Insights
NI Holdings, Inc. (NODK) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Share count reduced 100.0% through buybacks
✗Weaknesses
No significant weaknesses identified
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
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 Years-
5 Years-
3 Years-
TTM-13.81%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM127.91%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM44.44%
Return on Capital
10 Years3.75%
5 Years-0.24%
3 Years2.89%
Last Year-
NODK Recent Earnings
NI Holdings, Inc. (NODK) EPS & revenue vs analyst estimates — last 4 quarters
Q2 2026Latest
Mar 6, 2026EPS
$0.15
Revenue
$224M
Q4 2025
Nov 7, 2025EPS
$0.08
Revenue
$77M
Q3 2025
Aug 8, 2025EPS
$0.57
Revenue
$76M
Q2 2025
May 9, 2025EPS
$0.31
Revenue
$71M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Mar 6, 2026 | $0.15 | $224M |
| Q4 2025 | Nov 7, 2025 | $0.08 | $77M |
| Q3 2025 | Aug 8, 2025 | $0.57 | $76M |
| Q2 2025 | May 9, 2025 | $0.31 | $71M |
Based on last 12 quarters of dataView full earnings history →
NODK Peer Comparison
NI Holdings, Inc. (NODK) competitors in Personal auto and homeowners insurers — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 ACGL | 33.74B | 94.70 | 8.15 | 14.27% | 22.07% | 19.02% | 0.11 | |
 PLMR | 2.94B | 110.75 | 15.45 | 58.16% | 22.56% | 22.79% | 0.01 | |
 HRTG | 887.78M | 28.72 | 14.29 | 11.08% | 17.72% | 41.44% | 0.49 | |
 DGICA | 602.2M | 16.58 | 7.61 | -1.17% | 8.11% | 12.91% | 0.05 | |
 ERIE | 9.86B | 213.56 | 20.11 | 7.17% | 13.2% | 25.03% | ||
 KMPR | 1.92B | 32.74 | 14.30 | 3.62% | 0.83% | 1.43% | 0.38 | |
 SIGI | 4.99B | 83.00 | 11.10 | 9.78% | 8.39% | 12.93% | 0.25 | |
 CINF | 24.98B | 160.43 | 10.58 | 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.
NODK Income Statement
NI Holdings, Inc. (NODK) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | 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 | 0 | 297.97M |
| Revenue Growth % | 15.51% | 12.28% | 27.5% | 13.14% | 5.75% | -17.34% | 13.53% | 6.97% | -100% | -13.81% |
| Medical Costs & Claims | 122.79M | 115.08M | 167.18M | 219.94M | 280.95M | 295.36M | 254.15M | 278.72M | 0 | 258.35M |
| Medical Cost Ratio % | 64.92% | 54.19% | 61.74% | 71.79% | 86.72% | 110.3% | 83.6% | 85.71% | - | 86.7% |
| 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% | 0▼ 100.0% | 39.62M▲ 0% |
| Gross Margin % | 35.08% | 45.81% | 38.26% | 28.21% | 13.28% | -10.3% | 16.4% | 14.29% | - | 13.3% |
| Gross Profit Growth % | 167.35% | 46.64% | 6.49% | -16.59% | -50.21% | -164.09% | 280.88% | -6.8% | -100% | - |
| Operating Expenses | 44.34M | 58.12M | 69.79M | 33.6M | 31.71M | 25.3M | 29.33M | 36.34M | 0 | 35.22M |
| OpEx / Revenue % | 23.44% | 27.37% | 25.77% | 10.97% | 9.79% | 9.45% | 9.65% | 11.17% | - | 11.82% |
| Depreciation & Amortization | 543K | 4M | 2.25M | 5.93M | 1.17M | 654K | 725K | 681K | 0 | 673K |
| Combined Ratio % | 88.37% | 81.56% | 87.51% | 82.76% | 96.51% | 119.75% | 93.24% | 96.88% | - | 98.52% |
| 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% | 0▼ 100.0% | 4.41M▲ 0% |
| Operating Margin % | 11.63% | 18.44% | 12.49% | 17.24% | 3.49% | -19.75% | 6.76% | 3.12% | - | 1.48% |
| Operating Income Growth % | 259.75% | 77.97% | -13.67% | 56.21% | -78.59% | -567.68% | 138.86% | -50.63% | -100% | - |
| EBITDA | 22.55M | 43.16M | 36.06M | 58.75M | 12.47M | -52.22M | 21.27M | 10.83M | 0 | 5.08M |
| EBITDA Margin % | 11.92% | 20.32% | 13.32% | 19.18% | 3.85% | -19.5% | 7% | 3.33% | - | 1.7% |
| 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% | 0▼ 100.0% | 4.41M▲ 0% |
| Pretax Margin % | 11.63% | 18.44% | 12.49% | 17.24% | 3.49% | -19.75% | 6.76% | 3.12% | - | 1.48% |
| Income Tax | 6.39M | 7.92M | 7.31M | 11.47M | 2.97M | -14.19M | 716K | 3.54M | 0 | 1.81M |
| Effective Tax Rate % | 29.06% | 20.22% | 21.62% | 21.72% | 26.3% | 26.84% | 3.48% | 34.94% | - | 41.18% |
| 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% | 0▲ 100.0% | 2.59M▲ 0% |
| Net Margin % | 8.45% | 14.64% | 9.75% | 13.18% | 2.6% | -19.83% | -1.8% | -1.86% | - | 0.87% |
| Net Income Growth % | 251.37% | 94.37% | -15.06% | 52.98% | -79.16% | -730.89% | 89.69% | -10.66% | 100% | 127.91% |
| 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% | 0.00▼ 100.0% | 0.12▲ 0% |
| EPS Growth % | 255% | 95.77% | -14.39% | 54.62% | -78.8% | -738.46% | 89.56% | 192.31% | -100% | 44.44% |
| EPS (Basic) | 0.71 | 1.39 | 1.19 | 1.86 | 0.39 | -2.49 | -0.26 | 0.24 | 0.00 | - |
| Diluted Shares Outstanding | 22.51M | 22.39M | 22.27M | 21.94M | 21.66M | 21.33M | 21.16M | 21.09M | 0 | 21M |
NODK Balance Sheet
NI Holdings, Inc. (NODK) balance sheet — assets, liabilities & shareholders' equity
| Line item | 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 | 615.68M | 526.54M | 240.72M | 543.82M |
| Asset Growth % | 35.27% | 21.62% | 10.83% | 21.54% | 5.53% | -5.76% | 0.24% | -14.48% | -54.28% | -29.05% |
| Total Investment Assets | 284.32M | 303.47M | 357.79M | 393.29M | 444.35M | 357.72M | 291.4M | 334.16M | 0 | 4M |
| Long-Term Investments | 284.32M | 303.47M | 355.88M | 390.36M | 442.34M | 355.72M | 2.01M | 332.35M | 0 | 1.22B |
| Short-Term Investments | 0 | 0 | 295.94M | 320.41M | 364.65M | 2M | 289.4M | 141.04M | 0 | 136.18M |
| Total Current Assets | 352.17M | 425.11M | 0 | 0 | 0 | 466.9M | 115.52M | 0 | 678K | 100.73M |
| Cash & Equivalents | 27.59M | 68.95M | 62.13M | 101.08M | 70.62M | 47M | 41.04M | 50.93M | 678K | 24.65M |
| Receivables | 0 | 0 | 54.97M | 63.97M | 73.02M | 62.17M | 78.61M | 86.45M | 0 | 395.52M |
| Other Current Assets | 0 | 0 | -413.04M | -485.46M | -508.29M | 296.32M | 88.65M | -278.42M | 0 | -136.18M |
| Goodwill & Intangibles | 2.63M | 4.62M | 2.91M | 18.19M | 17.72M | 17.25M | 10.04M | 100K | 0 | 22.63M |
| 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 | 0 | 22.33M |
| PP&E (Net) | 5.88M | 6.98M | 7.69M | 9.9M | 9.87M | 9.84M | 9.9M | 7.55M | 0 | 7.23M |
| Other Assets | -236K | -458K | -366.48M | -418.45M | -469.93M | -355.72M | 411.15M | -340M | 0 | -226.63M |
| Total Liabilities | 121.42M | 182.74M | 198.36M | 268.73M | 304.37M | 361.02M | 365.28M | 281.91M | 385K | 300.01M |
| Total Debt | 0 | 0 | 0 | 0 | 0 | 1.84M | 2.06M | 0 | 0 | 2.77M |
| Net Debt | -27.59M | -68.95M | -62.13M | -101.08M | -70.62M | -45.16M | -54.63M | -50.93M | -678K | -21.88M |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.27M |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 359K | 501K | 0 | 0 | 130K |
| Total Current Liabilities | 428K | 274K | 0 | 0 | 0 | 13.96M | 191.92M | 0 | 633K | 0 |
| Accounts Payable | 428K | 0 | 170K | 0 | 326K | 0 | 0 | 0 | 0 | 1.5M |
| Deferred Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 122.46M |
| Other Current Liabilities | -9.72M | -10.14M | -11.24M | -34.86M | -31.41M | -8.45M | 191.33M | 0 | 633K | -124.09M |
| Deferred Taxes | 1000K | 711K | 1000K | 1000K | 1000K | 1000K | 1000K | 0 | 0 | 0 |
| Other Liabilities | 121.42M | 182.74M | -4.59M | -8.76M | -5.51M | 347.06M | 162.04M | 0 | 0 | 274.32M |
| 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% | 240.72M▼ 1.6% | 243.8M▲ 0% |
| Equity Growth % | 66.59% | 7.9% | 12.35% | 12.61% | -0.42% | -27.12% | -1.11% | -2.3% | -1.6% | -0.4% |
| Shareholders Equity | 252.4M | 272.49M | 306.3M | 344.33M | 343.2M | 250.98M | 247.64M | 244.63M | 240.72M | 243.8M |
| 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 | 0 | 194.23M |
| Common Stock | 230K | 230K | 230K | 230K | 230K | 230K | 230K | 230K | 0 | 230K |
| Accumulated OCI | 16M | 6.38M | 5.61M | 12.84M | 5.24M | -29.29M | -21.38M | -18.23M | 0 | -11.53M |
| Return on Equity (ROE) | 7.82% | 11.7% | 9.02% | 12.26% | 2.42% | -17.68% | -2.17% | -2.45% | - | 1.05% |
| Return on Assets (ROA) | 4.88% | 7.44% | 5.46% | 7.18% | 1.33% | -8.39% | -0.89% | -1.06% | - | 0.47% |
| Equity / Assets | 67.79% | 60.14% | 60.97% | 56.49% | 53.3% | 41.22% | 40.67% | 46.46% | 100% | 44.83% |
| Debt / Equity | - | - | - | - | - | 0.01x | 0.01x | - | - | 0.01x |
| Book Value per Share | 11.35 | 12.32 | 13.91 | 15.90 | 16.04 | 11.87 | 11.83 | 11.60 | - | 11.61 |
| Tangible BV per Share | 11.24 | 12.11 | 13.78 | 15.07 | 15.22 | 11.06 | 11.36 | 11.60 | - | 10.55 |
NODK Cash Flow Statement
NI Holdings, Inc. (NODK) cash flow — operating, investing & free cash flow history
| Line item | 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 | 2M |
| Operating CF Growth % | 152.16% | 13.73% | 22.48% | 98.75% | -42.82% | -204.18% | 185.46% | 48.27% | -94.8% | -280.5% |
| Operating CF / Revenue % | 9.74% | 9.87% | 9.48% | 16.65% | 9% | -11.35% | 8.54% | 11.84% | - | 0.67% |
| Net Income | 15.61M | 31.24M | 26.5M | 40.39M | 8.42M | -53.77M | -5.48M | 6.6M | -10.41M | 2.59M |
| Depreciation & Amortization | 543K | 4M | 2.25M | 5.93M | 1.17M | 54.26M | 1.28M | 0 | 0 | 673K |
| Stock-Based Compensation | 423K | 1.23M | 2.02M | 2.67M | 2.87M | 310K | 1.62M | 0 | 0 | 1.11M |
| Deferred Taxes | -2.07M | -692K | 1.87M | 0 | -1.31M | -3.97M | -1.88M | 0 | 0 | -1.3M |
| Other Non-Cash Items | -1.15M | -11.02M | -16.13M | -19.13M | -14.43M | -43.34M | 1.52M | 21.46M | 12.42M | 7.5M |
| Working Capital Changes | 5.06M | -3.81M | 9.16M | 21.15M | 32.46M | 16.13M | 28.9M | 10.45M | 0 | -17.36M |
| Cash from Investing | -91.86M | 23.4M | -30.46M | 200K | -48.15M | 25.05M | -8.81M | -4.54M | -2M | -6.25M |
| Capital Expenditures | -1.33M | -1.55M | -1.29M | -543K | -696K | -1.16M | -974K | -991K | 0 | -431K |
| 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 | -50.88M |
| Sale/Maturity of Investments | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 4M |
| Other Investing | -11.04M | 18K | 0 | -275K | -4.51M | -25.54M | 147K | 3.07M | -15K | 281K |
| Cash from Financing | 82.71M | -3M | -2.02M | -12.27M | -11.47M | -18.28M | -7.47M | -3.64M | -2.67M | -1.42M |
| 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 | 0 | -4K |
| Stock Issued | 93.14M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt Issuance (Net) | 0 | 0 | 0 | 0 | 0 | 0 | -16K | -99K | 0 | -106K |
| Other Financing | -2.4M | 0 | -19K | 5.97M | -7.16M | -11.1M | -172K | -3.39M | -2.67M | -1.31M |
| 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% | -14.45M▲ 0% |
| Exchange Rate Effect | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1000K | 0 | 0 |
| Cash at Beginning | 18.32M | 27.59M | 68.95M | 62.13M | 101.08M | 70.62M | 47M | 41.04M | 3.35M | 56.78M |
| Cash at End | 27.59M | 68.95M | 62.13M | 101.08M | 70.62M | 47M | 56.69M | 50.93M | 678K | 24.65M |
| 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% | 2M▼ 94.7% | -7.22M▲ 0% |
| FCF Growth % | 152.86% | 13.53% | 25.62% | 107.04% | -43.58% | -210.81% | 179.23% | 50.08% | -94.66% | -115.85% |
| FCF Margin % | 9.04% | 9.14% | 9% | 16.47% | 8.79% | -11.78% | 8.22% | 11.54% | - | -2.42% |
| FCF per Share | 0.76 | 0.87 | 1.09 | 2.3 | 1.31 | -1.48 | 1.18 | 1.78 | - | - |
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% | - | 98.52% |
| Medical Cost Ratio | 64.92% | 54.19% | 61.74% | 71.79% | 86.72% | 110.3% | 83.6% | 85.71% | - | 86.7% |
| Return on Equity (ROE) | 7.82% | 11.7% | 9.02% | 12.26% | 2.42% | -17.68% | -2.17% | -2.45% | - | 1.05% |
| Return on Assets (ROA) | 4.88% | 7.44% | 5.46% | 7.18% | 1.33% | -8.39% | -0.89% | -1.06% | - | 0.47% |
| Equity / Assets | 67.79% | 60.14% | 60.97% | 56.49% | 53.3% | 41.22% | 40.67% | 46.46% | 100% | 44.83% |
| Book Value / Share | 11.35 | 12.32 | 13.91 | 15.9 | 16.04 | 11.87 | 11.83 | 11.6 | - | 11.61 |
| Debt / Equity | - | - | - | - | - | 0.01x | 0.01x | - | - | 0.01x |
| Revenue Growth | 15.51% | 12.28% | 27.5% | 13.14% | 5.75% | -17.34% | 13.53% | 6.97% | -100% | -13.81% |
NODK SEC Filings & Documents
NI Holdings, Inc. (NODK) SEC filings — annual & quarterly reports (10-K, 10-Q)
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 100.0% over the past year.
Yes, NI Holdings, Inc. (NODK) is profitable, generating $2.6M in net income for fiscal year 2025 (0.9% net margin).
Industry Metrics
NI Holdings, Inc. (NODK) has a combined ratio of 0.0%. A ratio below 100% indicates underwriting profitability.
Explore More NODK
NI Holdings, Inc. (NODK) financial analysis — history, returns, DCA and operating performance tools
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Revenue History
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Valuation
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