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NODKNI Holdings, Inc.
$15.33$314M
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
Performance
P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
Discovery & Screens
Live BreakoutsStock ScreenerOwnership
NODK logo

NI Holdings, Inc.

NODK
NASDAQ · Property & Casualty Insurers
$15.33
At close - Nov 6, 4:00 PM EST - USD
Market Cap$314M
P/E21.2x
52W High$16.70
Volume10.35K
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q1

Persistent Underwriting Volatility Strains Capital Base

NI Holdings faces a challenging outlook characterized by a sustained revenue contraction, with top-line growth falling to -16.6% in 2026Q1 as the firm attempts to navigate regional agricultural insurance risks.

GrowthContracting
ProfitabilityStrained
ValuationExpensive
TechnicalsHealthy
Explore valuation models
MARKET ACTION

NODK price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

0/12 Beats

EPS beat 0 of last 12 quarters

02

Valuation risk

+82% Peers

P/E is 82% above peer median

03

Market leadership

RS 75 · Avg

Average momentum (RS Rating: 75)

04

Healthy Uptrend

Uptrend

Price > 50DMA > 200DMA

Next CatalystEstimated earnings · Feb 6

Market performance

Price History →

Trailing total returns as of 11/8/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
NODK+15.52%
S&P 500 (^GSPC)+7.63%
1-Year Return
NODK+15.79%
S&P 500 (^GSPC)+9.69%
3-Year Return
NODK+23.03%
S&P 500 (^GSPC)+68.17%
5-Year Return
NODK-22.93%
S&P 500 (^GSPC)+56.27%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E5Y Low
21.2x
Forward P/E
N/A
EV/EBITDA33rd %ile
19.3x
FCF YieldCash Flow
N/A

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
21.2x
48.5x
0th· Low
EV/EBITDA
19.3x
25.9x
33rd· Fair
Price/FCF
N/A
14.4x
N/A
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
No DCF Model AvailableIntrinsic value modeling is not supported for this equity.

Growth & profitability

Annual revenue & EPS trend
Revenue FY25
$285M-12.3% YoY
Net income FY25
-$10M-71.8% YoY
Free cash flow FY25
-$15M-190.7% YoY
Operating margin FY25
-4.3%-7.4 pts YoY
ROIC (FY25)-4.8%
Avg ROIC 5Y-1.4%
ROE (TTM)6.1%
Piotroski Score3 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q4 2026Latest
Nov 6, 2026
$0.27
vs —
$69M
vs —
Q3 2026
Aug 7, 2026
$0.01
vs —
$70M
vs —
Q2 2026
May 8, 2026
$0.60
vs —
$60M
vs —
Q2 2026
Mar 6, 2026
-$0.15
vs —
$61M
vs —
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

3 Stories
GlobeNewsWire·1d ago
NI Holdings, Inc. Reports Results for Third Quarter Ended September 30, 2026

FARGO, N.D., Nov. 06, 2026 (GLOBE NEWSWIRE) -- NI Holdings, Inc. (NASDAQ: NODK) announced today results for the quarter ended September 30, 2026.

Zacks Investment Research·Oct 6, 2026
Zacks Initiates Coverage of NI Holdings With Neutral Recommendation

Discover why Zacks initiated coverage of NODK with a "Neutral" rating, being the first on Wall Street to initiate coverage on the stock. Learn how underwriting recovery, a stronger business mix and financial flexibility are offset by premium declines and catastrophe risk.

Defense World·Sep 28, 2026
Comparing CNO Financial Group (NYSE:CNO) & NI (NASDAQ:NODK)

NI (NASDAQ: NODK - Get Free Report) and CNO Financial Group (NYSE: CNO - Get Free Report) are both finance companies, but which is the superior business? We will compare the two companies based on the strength of their analyst recommendations, risk, profitability, dividends, valuation, institutional ownership and earnings. Earnings and Valuation This table compares NI and

Filtered for NI Holdings, Inc.More Headlines
04

Compare before deciding

Benchmark NODK against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for NI Holdings, Inc. (NODK)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
NODK logoNODKNI Holdings, Inc.Current
$15.33$313.98M21.24-12.35%5.79%6.11%—
ACGL logoACGLArch Capital Group Ltd.
$107.28$37.48B8.3714.27%23.19%18.35%0.02%
PLMR logoPLMRPalomar Holdings, Inc.
$155.71$4.13B19.3758.16%17.6%22.45%—
HRTG logoHRTGHeritage Insurance Holdings, Inc.
$33.22$1.01B4.583.71%27.39%39.41%—
DGICA logoDGICADonegal Group Inc.
$18.73$690.11M8.71-1.17%7.24%10.57%4.39%
ERIE logoERIEErie Indemnity Company
$273.07$12.61B24.797.17%13.97%23.86%1.77%

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 MRSH

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

Peer Set

Compare Top 5

vs ACGL, PLMR, HRTG, DGICA

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

NODK SEC Filings & Documents

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

8-K Announcements

6
Material company update

Aug 7, 2026·SEC

Material company update

May 26, 2026·SEC

Material company update

May 8, 2026·SEC

10-K Annual Reports

3
FY 2026

Mar 6, 2026·SEC

FY 2025

Mar 7, 2025·SEC

FY 2024

Mar 15, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

Aug 7, 2026·SEC

FY 2026

May 8, 2026·SEC

FY 2025

Nov 7, 2025·SEC

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NODK Frequently Asked Questions

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

Growth & Financials
How fast is NI Holdings, Inc. growing?

NI Holdings, Inc. (NODK) revenue fell by 12.9% over the trailing twelve months, compared with the twelve months before.

Is NODK profitable?

Yes. NI Holdings, Inc. (NODK) earned $15.0M in net income over the trailing twelve months (a 5.8% net margin).

Dividend & Returns
What is NODK's return on equity?

NI Holdings, Inc. (NODK) had a return on equity (ROE) of 6.1% over the trailing twelve months. That is below the market's typical 10-15%.

Industry Metrics
What is NI Holdings, Inc.'s combined ratio?

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?

Total return calculator · dividends reinvested · 12+ years of data

See returns →