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NMI Holdings Inc

NMI Holdings Inc

NMIH
$43.01USD↑+1.18%+0.50 today

MARKET CAP

3.3B

P/E (TTM)

8.8x

FWD P/E

8.0x

DAY RANGE

$42 – $43

52W RANGE

$35
$43

AI Summary

Stalk
TrimMedium

NMIH remains in a Stage 4 decline with a high-confidence medium-term bearish bias driven by active Support Failure and a persistent LH/LL regime. Price is extended below declining EMAs amid extreme oversold conditions, making immediate selling unattractive; defer further selling into rallies at the 9EMA/20EMA resistance area. The multi-year uptrend via the upward-sloping 200-day MA remains intact, offering structural support despite ongoing weakness.

  • ↑Q1 revenue $183.5M (+6% YoY); adjusted EPS $1.28.
  • ↑NIW up 33% YoY to $12.3B; insurance in force $222.3B.
  • ↓Insider sales accelerated, potentially signaling caution from executives.
Full analysis →

The case for & against

Bull & Bear analysis

Bullish

NMI Holdings, Inc. (NASDAQ: NMIH) is a leading private mortgage insurance provider that supports lenders in managing risks associated with low down payments for homebuyers. The company has carved a significant market niche, leveraging its strong operational frameworks and rigorous risk management strategies amid a favorable macroeconomic landscape. NMI operates within the mortgage insurance sector, an integral component of the housing finance framework that aims to facilitate homeownership across the United States.

Bull says

  • ↑Q1 revenue $183.5M (+6% YoY); adjusted EPS $1.28.
  • ↑NIW up 33% YoY to $12.3B; insurance in force $222.3B.
  • ↑Share buybacks of $27.7M in Q1; $198M capacity left.
  • ↑Expense ratio improved to 19.8%, enhancing profitability.
  • ↑High earnings yield and strong book-to-price ratio suggest undervaluation.
  • ↑RBC initiates coverage at Outperform with $46 price target.

Bear says

  • ↓Insider sales accelerated, potentially signaling caution from executives.
  • ↓Default rate rose to 1.17%, indicating credit risk uptick.
  • ↓Exposure to oil price swings could boost volatility.
  • ↓No dividend yield deters income-focused investors.
  • ↓High short interest and negative earnings revisions reflect skepticism.
  • ↓Macro and regulatory shifts may pressure pricing and margins.

Earnings Call · Q1 2025 · Mgmt. Guidance

Updated 06-14-2026bullish

Transcript signals

Bull points

  • National MI continued to outperform in the first quarter, delivering significant new business production, consistent growth in our insured portfolio, and record financial results.
  • We generated $9.2 billion of NIW volume, and ended the period with a record $211.3 billion of high-quality, high-performing primary insurance in force.
  • Total revenue in the first quarter was a record $173.2 million, and we delivered record gap net income of $102.6 million, or $1.28 per diluted share, and an 18.1% return on equity.

Bear points

  • obviously the headlines, the emerging market volatility, broader concerns around what tariffs and other policies might mean from an economic standpoint, they certainly factor into our thinking.
Read full transcript analysis ›