NMIH
Unloved QualityNMI Holdings, Inc. · Financial Services · United States · $3.2B cap · $35.9M/day traded
$39.05 +0.8% · close 11 Nov · scored 11 Nov
Unloved Quality: Strong and cheap, but the market has not warmed to it.
Around its 5 Nov results, analysts left next year's EPS estimate little changed.
As of 11 Nov 2026, the MoatMap Score for NMI Holdings, Inc. (NMIH) is 79/100, ranked against 25,000+ stocks in 38 markets (Quality 74, Value 60, Momentum 43, each scored against its sector).
Does the score work? Each tenth of the ranking, tracked monthly. See the record →
ABOUT NMI HOLDINGS, INC.
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NMI Holdings, Inc. operates as a leading provider of private mortgage insurance in the United States, offering credit enhancement to lenders and enabling broader access to homeownership. The company differentiates itself through a modern technology platform, competitive pricing, and strong customer relationships with mortgage originators, which together enhance efficiency and risk management. As a newer, tech-forward entrant, NMIH has rapidly grown its market share through innovative solutions and disciplined underwriting.
FINANCIAL SUMMARY (USD)
| Year | 2022 | 2023 | 2024 | 2025 | CAGR | TTM | 2026E | 2027E | Fwd CAGR |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 524.5M | 579.0M | 651.0M | 706.4M | 10.4% | 739.7M | 753.3M | 794.0M | 6.0% |
| EPS | 3.45 | 3.91 | 4.51 | 5.01 | 13.2% | 5.09 | 5.38 | 5.58 | 5.5% |
| Shares | 83.5M | 80.9M | 78.6M | 76.3M | -8.7% | 74.8M | — | — | — |
| Debt | 396.1M | 397.6M | 415.1M | 417.0M | 1.7% | 426.2M | — | — | — |
| Equity | 1.6B | 1.9B | 2.2B | 2.6B | 17.1% | — | — | — | — |
| Op CF | 313.4M | 342.7M | 393.6M | 419.3M | 10.2% | 419.3M | — | — | — |
| Inv CF | -289.8M | -200.0M | -339.3M | -316.5M | — | — | — | — | — |
| Fin CF | -55.8M | -90.4M | -96.7M | -113.2M | — | — | — | — | — |
No clear trend: not near its 52-week low, and not in a steady uptrend.
Calmer than 78% of stocks we rank over the past year (volatility 28% a year).
How this is worked out
The MoatMap Score weighs the business, its price and its trend. The price check reads only the chart: the price side of the Momentum score, in words.
The rules: Still falling is a new 52-week low in the last two weeks, at least 25% below the high. Finding a floor is no new low since. Turning up is 20 or more trading days without a new low, at least 10% off it, and back above a rising 50-day average. In an uptrend is above the 200-day average and within 15% of the high.
In 2,112 US drawdowns since 2001, buying while the price was still falling was followed by a further 20% drop 42% of the time. Waiting for a turn (the Turning up rule above) cut that to 33%, at about 7% higher prices and with no better returns. Part of that cut is simply not buying: 13% of falls never turned, and waiting kept those out. Among turns that were bought, 38% still fell another 20%, and 33% of turns were followed by a new low within six months. The benefit was largest in crashes such as 2008 and 2020.
What it measures: how much the price moved day to day over the past year, scaled to a yearly figure (annualised volatility) and ranked against every stock we cover. Very calm under 20% a year, Calm 20 to 30%, Average 30 to 40%, Bumpy 40 to 55%, Very bumpy above that.
What we found: across about 13,500 stocks in 34 markets (2002 to 2025), past swings were a good guide to the next year's, and bumpier stocks fell further. How much further changed too much between eras to put a number on it.
Calm is not safe: a calm stock can still slide steadily.
Rules fixed before any data was fetched. Describes the chart, not a recommendation.
SCORE BREAKDOWN
FUNDAMENTALS
SECTOR PEERS
Closest peers in Financial Services, ranked by industry match, size, and score similarity. Cross-listings of NMIH are excluded.
| Ticker | Company | Mkt Cap | Score |
|---|---|---|---|
| NMIH | NMI Holdings, Inc.(you) | $3.2B | 79 |
| RDN | Radian Group Inc. | $4.7B | 83 |
| MTG | MGIC Investment Corporation | $5.9B | 78 |
| ACT | Enact Holdings, Inc. | $6.6B | 73 |
| FAF | First American Financial Corporation | $6.6B | 65 |
| FNF | Fidelity National Financial, Inc. | $10.8B | 62 |
| ITIC | Investors Title Company | $532M | 70 |
| EIG | Employers Holdings, Inc. | $935M | 39 |
| AMSF | AMERISAFE, Inc. | $488M | 48 |
| JRVR | James River Group Holdings, Inc. | $184M | 41 |
Peer medians: ROE 9.6% · P/E 12.8x · Gross margin 70.8%
Company Deep Dive
A 10,000-word report: the business and its segments, what management promised on earnings calls and whether it delivered, the competition, and how things could turn out.