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NMI Holdings, Inc. cash flow statement

In fiscal 2025, NMI Holdings, Inc.'s operations generated $419m of cash; it spent $6.8m on capital projects, leaving free cash flow of $413m. It returned $105m through buybacks.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Cash from operations−15−36−21417268146208253326313343394419449
Depreciation and amortisation0663578910111212121111
Stock-based pay6109879131311171517202021
Capital spending27861198101212119777
Free cash flow−17−43−29356059138198240313303333387413442
Free cash flow after stock pay−23−53−38275450125185229297287316367392421
Share buybacks————————00579298105115
Shares issued51028100079022000————

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from NMI Holdings, Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to NMI Holdings, Inc.