NMI Holdings (NMIH) Gross Margin (2013 - 2026)

NMI Holdings' (NMIH) quarterly Gross Margin came in at 83.31% in Q1 2026, down 1369.0% year-on-year from 6.56% in Q1 2025, and down 3.26% quarter-over-quarter from 86.11% in Q4 2025.

NMI Holdings (NMIH) Gross Margin (2013 - 2026) Analysis & Trends

NMI Holdings has disclosed Gross Margin across 14 years of filings, most recently posting 83.31% for Q1 2026.

  • Gross Margin for Q1 2026 came in at 83.31%, down 1369.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 85.72% (down 605.0% YoY), and the FY2025 annual result was 90.43%, down 473.0% from the prior year.
  • Gross Margin came in at 83.31% for Q1 2026 at NMI Holdings, down from 86.11% in the prior quarter.
  • In the past five years, Gross Margin ranged from a high of 99.83% in Q2 2024 to a low of 71.73% in Q1 2022.
  • The 5-year median for Gross Margin is 80.73% (2025), against an average of 84.58%.
  • Peak annual rise in Gross Margin reached 2162 bps in 2024, while the deepest fall reached 1664 bps in 2024.
  • NMI Holdings' Gross Margin stood at 77.66% in 2022, then decreased by 0 bps to 77.65% in 2023, then advanced by 15 bps to 89.64% in 2024, then dropped by 4 bps to 86.11% in 2025, then declined by 3 bps to 83.31% in 2026.
  • The last three Gross Margin figures came in at 83.31% (Q1 2026), 86.11% (Q4 2025), and 80.73% (Q3 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Gross Margin (Qtr)
1 Fidelity National Financial 12.62 Bn 9.96 Bn 2.62 Bn 81.15%
2 Axis Capital Holdings 7.48 Bn 6.61 Bn - -
3 First American Financial 7.03 Bn 4.14 Bn 1.24 Bn 67.24%
4 Enact Holdings 5.98 Bn 5.43 Bn 205.74 Mn 84.70%
5 Mgic Investment 5.62 Bn 5.37 Bn 202.12 Mn 85.88%
6 Essent 5.48 Bn 5.48 Bn - -
7 Radian 4.76 Bn 4.68 Bn 368.17 Mn 78.95%
8 Ryan Specialty Holdings 4.49 Bn 4.92 Bn - -
9 Assured Guaranty 3.43 Bn -489.19 Mn 216.00 Mn 82.76%
10 NMI Holdings 2.86 Bn 2.78 Bn 152.85 Mn 83.31%

Historic Data

Download Data
DateValue
Mar 31, 2026 83.31%
Dec 31, 2025 86.11%
Sep 30, 2025 80.73%
Jun 30, 2025 92.26%
Mar 31, 2025 97.00%
Dec 31, 2024 89.64%
Sep 30, 2024 79.66%
Jun 30, 2024 99.83%
Mar 31, 2024 97.30%
Dec 31, 2023 77.65%
Sep 30, 2023 96.30%
Jun 30, 2023 78.21%
Mar 31, 2023 78.82%
Dec 31, 2022 77.66%
Sep 30, 2022 77.06%
Jun 30, 2022 74.60%
Mar 31, 2022 71.73%
Dec 31, 2021 65.91%
Sep 30, 2021 69.48%
Jun 30, 2021 68.68%