NI Holdings, Inc. (NODK) Financial Ratios
12 years of historical data (2014–2025) · Financial Services · Insurance - Property & Casualty
EV/EBITDA
↓
N/A
—
5yr avg: 21.44
30Y Low4.4·High27.2
P/FCF
↑
182.35
↑+283% vs avg
5yr avg: 47.61
30Y Low7.1·High156.2
P/B Ratio
↓
1.39
+18% vs avg
5yr avg: 1.18
30Y Low1.0·High1.5
ROE
↓
-4.3%
↓+11% vs avg
5yr avg: -4.8%
30Y Low-18%·High12%
Debt/EBITDA
↑
N/A
—
5yr avg: 0.13
30Y Low0.1·High0.2
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
NODK Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
NI Holdings, Inc. currently has a negative P/E ratio, indicating the company is operating at a loss on a trailing-twelve-month basis. On a free-cash-flow basis, the stock trades at 182.4x P/FCF, 283% above the 5-year average of 47.6x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $326M | $279M | $331M | $275M | $283M | $410M | $360M | $383M | $352M | $382M | — |
| Enterprise Value | $274M | $227M | $282M | $236M | $238M | $339M | $259M | $321M | $283M | $355M | — |
| P/E Ratio → | -31.82 | — | 65.42 | — | — | 48.49 | 8.92 | 14.45 | 11.32 | 23.92 | — |
| P/S Ratio | 1.14 | 0.98 | 1.02 | 0.90 | 1.06 | 1.26 | 1.18 | 1.41 | 1.66 | 2.02 | — |
| P/B Ratio | 1.39 | 1.16 | 1.35 | 1.10 | 1.12 | 1.18 | 1.03 | 1.24 | 1.28 | 1.50 | — |
| P/FCF | 182.35 | 156.23 | 8.83 | 11.00 | — | 14.38 | 7.14 | 15.71 | 18.15 | 22.37 | — |
| P/OCF | 162.60 | 139.31 | 8.60 | 10.58 | — | 14.04 | 7.06 | 14.92 | 16.80 | 20.75 | — |
P/E links to full P/E history page with 30-year chart
NODK EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.80 | 0.87 | 0.78 | 0.89 | 1.05 | 0.85 | 1.18 | 1.33 | 1.88 | — |
| EV / EBITDA | — | — | 26.05 | 11.09 | — | 27.17 | 4.41 | 8.90 | 6.56 | 15.73 | — |
| EV / EBIT | — | — | 27.80 | 11.48 | — | 29.97 | 4.91 | 9.49 | 7.23 | 16.12 | — |
| EV / FCF | — | 127.29 | 7.52 | 9.44 | — | 11.90 | 5.14 | 13.16 | 14.59 | 20.75 | — |
NODK Profitability
Margins and return-on-capital ratios measuring operating efficiency
NI Holdings, Inc. earns an operating margin of -4.3%, below the Financial Services sector average of 20.3%. Operating margins have compressed from 6.8% to -4.3% over the past 3 years, signaling potential cost pressures or competitive headwinds. A negative ROE of -4.3% indicates the company is currently destroying shareholder equity.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 29.6% | 29.6% | 14.3% | 16.4% | -10.3% | 13.3% | 28.2% | 38.3% | 45.8% | 35.1% | 15.2% |
| Operating Margin | -4.3% | -4.3% | 3.1% | 6.8% | -19.7% | 3.5% | 17.2% | 12.5% | 18.4% | 11.6% | 3.7% |
| Net Profit Margin | -3.7% | -3.7% | -1.9% | -1.8% | -19.8% | 2.6% | 13.2% | 9.8% | 14.6% | 8.5% | 2.8% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -4.3% | -4.3% | -2.4% | -2.2% | -17.7% | 2.4% | 12.3% | 9.0% | 11.7% | 7.8% | 3.0% |
| ROA | -2.0% | -2.0% | -1.0% | -0.9% | -8.4% | 1.3% | 7.2% | 5.5% | 7.4% | 4.9% | 1.7% |
| ROIC | -4.8% | -4.8% | 3.7% | 7.3% | -16.4% | 3.2% | 16.0% | 11.2% | 13.5% | 9.1% | 3.4% |
| ROCE | -4.7% | -4.7% | 3.0% | 5.3% | -8.4% | 1.8% | 9.4% | 7.0% | 9.4% | 6.7% | 2.3% |
NODK Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
The company holds a net cash position — cash of $52M exceeds total debt of $0, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | 0.01 | 0.01 | 0.01 | — | — | — | — | — | — |
| Debt / EBITDA | — | — | 0.17 | 0.10 | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.22 | -0.20 | -0.16 | -0.18 | -0.20 | -0.29 | -0.20 | -0.25 | -0.11 | -0.12 |
| Net Debt / EBITDA | — | — | -4.54 | -1.83 | — | -5.66 | -1.72 | -1.72 | -1.60 | -1.22 | -2.77 |
| Debt / FCF | — | -28.94 | -1.31 | -1.56 | — | -2.48 | -2.00 | -2.55 | -3.55 | -1.61 | -2.71 |
| Interest Coverage | — | — | — | — | — | — | — | — | — | — | — |
Net cash position: cash ($52M) exceeds total debt ($0)
NODK Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.08x means NI Holdings, Inc. can comfortably meet its short-term obligations, though there is limited excess liquidity.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.08 | 1.08 | 1.07 | — | — | — | — | — | 1551.48 | 822.84 | 6527.62 |
| Quick Ratio | 1.08 | 1.08 | 1.07 | 1.56 | — | — | — | — | 932.14 | 341.22 | 3581.74 |
| Cash Ratio | 0.74 | 0.74 | 0.73 | 1.35 | — | — | — | — | 251.64 | 64.47 | 469.69 |
| Asset Turnover | — | 0.56 | 0.62 | 0.46 | 0.44 | 0.50 | 0.50 | 0.53 | 0.46 | 0.50 | 0.59 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
NODK Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
NI Holdings, Inc. returns 0.8% to shareholders annually primarily through share buybacks.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | 1.1% | — | 1.7% | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | 14.9% | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | 1.5% | — | — | 2.1% | 11.2% | 6.9% | 8.8% | 4.2% | — |
| FCF Yield | 0.5% | 0.6% | 11.3% | 9.1% | — | 7.0% | 14.0% | 6.4% | 5.5% | 4.5% | — |
| Buyback Yield | 0.8% | 1.0% | 0.0% | 2.6% | 1.5% | 1.1% | 3.4% | 0.5% | 0.9% | 2.1% | — |
| Total Shareholder Yield | 0.8% | 1.0% | 0.0% | 2.6% | 2.5% | 1.1% | 5.1% | 0.5% | 0.9% | 2.1% | — |
| Shares Outstanding | — | $21M | $21M | $21M | $21M | $22M | $22M | $22M | $22M | $23M | $23M |
Peer Comparison
Compare NODK with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 NODKYou | $326M | -31.8 | — | 182.4 | 29.6% | -4.3% | -4.3% | -4.8% | — |
 ACGL | $32B | 7.8 | 6.6 | 5.3 | 37.2% | 25.0% | 19.5% | 15.4% | 0.5 |
 PLMR | $3B | 15.6 | 10.9 | 7.4 | 73.9% | 28.9% | 23.6% | 25.5% | 0.0 |
 HRTG | $706M | 3.7 | 0.9 | 4.1 | 63.0% | 30.6% | 49.1% | 1539.6% | 0.4 |
 DGICA | $635M | 8.0 | 6.4 | 9.0 | 26.7% | 10.0% | 13.4% | 12.4% | 0.3 |
 ERIE | $10B | 20.8 | 12.4 | 17.9 | 15.8% | 17.7% | 26.2% | 29.5% | — |
 KMPR | $1B | 10.9 | 10.0 | 2.7 | 29.7% | 3.3% | 5.3% | 3.1% | 4.3 |
 SIGI | $6B | 12.3 | 10.4 | 4.5 | 40.9% | 11.0% | 13.9% | 10.9% | 1.4 |
 CINF | $26B | 11.2 | 8.2 | 8.6 | 50.1% | 23.6% | 16.0% | 15.3% | 0.3 |
 UFCS | $1B | 10.8 | 7.7 | 4.7 | 44.9% | 10.7% | 13.7% | 13.6% | 0.9 |
 MMC | $85B | 21.3 | 16.0 | 21.4 | 42.8% | 23.8% | 31.3% | 15.2% | 3.3 |
| Financial Services Median | — | 13.6 | 11.4 | 11.1 | 64.1% | 20.3% | 9.0% | 5.5% | 4.3 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 12 years · Updated daily
Consensus-Based Analysis Tools
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Check Valuation
Historical Returns
10-year return with dividends reinvested.
Calculate
DCA Calculator
See how regular investing compounds over time.
Run Numbers
Peer Comparison
Compare growth, multiples, and margins vs sector.
Compare
NODK — Frequently Asked Questions
Quick answers to the most common questions about buying NODK stock.
What is NI Holdings, Inc.'s P/E ratio?
NI Holdings, Inc.'s current P/E ratio is -31.8x. The historical average is 28.8x.
What is NI Holdings, Inc.'s ROE?
NI Holdings, Inc.'s return on equity (ROE) is -4.3%. The historical average is 3.5%.
Is NODK stock overvalued?
Based on historical data, NI Holdings, Inc. is trading at a P/E of -31.8x. Compare with industry peers and growth rates for a complete picture.
What are NI Holdings, Inc.'s profit margins?
NI Holdings, Inc. has 29.6% gross margin and -4.3% operating margin.