NI Holdings vs Octave Specialty Group
NI Holdings and Octave Specialty Group are similar in size: $285m and $251m of revenue in their latest fiscal years. Octave Specialty Group grew faster (6.5% against -12.3%). NI Holdings kept more of each dollar of sales as profit: a net margin of -3.7% against -103.1%. NI Holdings carries less debt relative to equity (1.0% against 16.4%).
| Latest fiscal year | NI HoldingsNODK, 2025 | Octave Specialty GroupOSG, 2025 |
|---|---|---|
| Revenue | $285m | $251m |
| Revenue growth | -12.3% | 6.5% |
| Net income | −$10.4m | −$259m |
| Operating margin | — | — |
| Net margin | -3.7% | -103.1% |
| Return on equity | -4.3% | -34.2% |
| Free cash flow | −$15.5m | — |
| Cash | $51.7m | $68.4m |
| Total debt | $2.4m | $118m |
| Debt to equity | 1.0% | 16.4% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | $29.9m |
| Employees | 172 | 275 |
| Market value | $312m | $229m |
| Price vs our value range | — | — |
| Moat score | 53 (Moderate) | 36 (Weak) |
| Insider trades, 12 months | 0 buys, 0 sales | 2 buys, 0 sales |