Federal Agricultural Mortgage vs NMI Holdings
NMI Holdings is the larger business, with $706m of revenue in fiscal 2025 against $408m for Federal Agricultural Mortgage (1.7 times as much). Federal Agricultural Mortgage grew faster (8.9% against 8.5%). NMI Holdings kept more of each dollar of sales as profit: a net margin of 55.1% against 50.8%.
| Latest fiscal year | Federal Agricultural MortgageAGM, 2025 | NMI HoldingsNMIH, 2025 |
|---|---|---|
| Revenue | $408m | $706m |
| Revenue growth | 8.9% | 8.5% |
| Net income | $207m | $389m |
| Operating margin | — | — |
| Net margin | 50.8% | 55.1% |
| Return on equity | 12.9% | 16.2% |
| Free cash flow | $80.1m | $413m |
| Cash | $931m | $43.9m |
| Total debt | $30.82bn | $417m |
| Debt to equity | — | 16.1% |
| Dividend per share | — | — |
| Dividend yield | 4.2% | — |
| Share buybacks | $12.9m | $105m |
| Employees | — | 225 |
| Market value | $2.22bn | $3.26bn |
| Price vs our value range | — | — |
| Moat score | 63 (Moderate) | 88 (Strong) |
| Insider trades, 12 months | 0 buys, 0 sales | 0 buys, 13 sales |