NMI Holdings, Inc. income statement
In fiscal 2025, NMI Holdings, Inc. reported revenue of $706m, up 8.5% on the year before and net income of $389m, or $4.92 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2012Dec 2012 | 2013Dec 2013 | 2014Dec 2014 | 2015Dec 2015 | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 7 | 19 | 54 | 124 | 183 | 275 | 379 | 433 | 485 | 523 | 579 | 651 | 706 | 731 |
| Interest expense | — | 0 | 0 | 2 | 15 | 14 | 15 | 12 | 24 | 32 | 32 | 32 | 37 | 28 | 28 |
| Income before tax | −27 | −55 | −51 | −28 | 11 | 53 | 136 | 217 | 218 | 297 | 377 | 413 | 463 | 500 | 507 |
| Income tax | 0 | 0 | −2 | 0 | −53 | 31 | 28 | 45 | 47 | 66 | 84 | 91 | 103 | 111 | 111 |
| Net income | −27 | −55 | −49 | −28 | 64 | 22 | 108 | 172 | 172 | 231 | 293 | 322 | 360 | 389 | 395 |
| Diluted EPS | −$0.73 | −$0.99 | −$0.84 | −$0.47 | $1.05 | $0.35 | $1.60 | $2.47 | $2.13 | $2.65 | $3.39 | $3.84 | $4.43 | $4.92 | $5.08 |
| Diluted shares (average) | 38m | 56m | 58m | 59m | 61m | 62m | 68m | 70m | 79m | 87m | 86m | 84m | 81m | 79m | 78m |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 166 | 167 | 173 | 174 | 179 | 181 | 183 | 188 |
| Interest expense | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 |
| Income before tax | 119 | 111 | 131 | 124 | 124 | 121 | 125 | 137 |
| Income tax | 27 | 25 | 29 | 27 | 28 | 27 | 26 | 31 |
| Net income | 93 | 86 | 103 | 96 | 96 | 94 | 99 | 106 |
| Diluted EPS | $1.15 | $1.07 | $1.28 | $1.21 | $1.22 | $1.20 | $1.28 | $1.38 |
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