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| Date | Value |
|---|---|
| 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% |