NMI Holdings (NMIH) Operating Expenses (2012 - 2026)
NMI Holdings (NMIH) posted quarterly Operating Expenses of $50.9 million for Q2 2026, up 1.53% year-over-year from $50.2 million in Q2 2025, and down 12.96% on a QoQ basis from $58.5 million in Q1 2026.
NMI Holdings (NMIH) Operating Expenses (2012 - 2026) Analysis & Trends
NMI Holdings has reported Operating Expenses for 15 years, with the latest figure at $50.9 million in Q2 2026.
- Operating Expenses for Q2 2026 came in at $50.9 million, up 1.53% year-over-year; the trailing twelve-month figure through Jun 2026 was $224.1 million (up 15.23% YoY), and the FY2025 annual result was $206.6 million, up 10.17% from the prior year.
- Operating Expenses eased to $50.9 million in Q2 2026, from $58.5 million in the prior quarter.
- Over five years, Operating Expenses peaked at $59.6 million in Q4 2025 and troughed at $32.0 million in Q3 2022.
- A 5-year average of $45.3 million and a median of $42.7 million in 2024 frame the typical range for Operating Expenses.
- The widest annual swing landed in 2022, when Operating Expenses sank 31.34%; it then jumped 39.78% in 2026.
- A 5-year view of Operating Expenses shows it stood at $38.3 million in 2022, then advanced by 20.54% to $46.2 million in 2023, then climbed by 20.42% to $55.6 million in 2024, then increased by 7.11% to $59.6 million in 2025, then retreated by 14.5% to $50.9 million in 2026.
- Per Business Quant data, the three most recent Operating Expenses figures were $50.9 million in Q2 2026, $58.5 million in Q1 2026, and $59.6 million in Q4 2025.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Fidelity National Financial | 12.71 Bn | 8.14 Bn | 3.59 Bn | 3.71 Bn |
| 2 | First American Financial | 7.40 Bn | 4.28 Bn | 1.77 Bn | 1.83 Bn |
| 3 | Axis Capital Holdings | 7.28 Bn | 6.49 Bn | 819.78 Mn | 1.44 Bn |
| 4 | Enact Holdings | 6.86 Bn | 6.36 Bn | 284.04 Mn | 97.34 Mn |
| 5 | Mgic Investment | 6.46 Bn | 6.23 Bn | 284.40 Mn | 65.46 Mn |
| 6 | Essent | 6.22 Bn | 6.22 Bn | 313.73 Mn | 132.37 Mn |
| 7 | Ryan Specialty Holdings | 5.38 Bn | 5.24 Bn | - | 736.33 Mn |
| 8 | Radian | 4.96 Bn | 4.22 Bn | 380.01 Mn | 424.24 Mn |
| 9 | NMI Holdings | 3.45 Bn | 3.37 Bn | 157.40 Mn | 50.95 Mn |
| 10 | Assured Guaranty | 3.29 Bn | -503.07 Mn | 156.00 Mn | 135.00 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 50.95 Mn |
| Mar 31, 2026 | 58.53 Mn |
| Dec 31, 2025 | 59.59 Mn |
| Sep 30, 2025 | 55.00 Mn |
| Jun 30, 2025 | 50.18 Mn |
| Mar 31, 2025 | 41.88 Mn |
| Dec 31, 2024 | 55.63 Mn |
| Sep 30, 2024 | 46.77 Mn |
| Jun 30, 2024 | 43.48 Mn |
| Mar 31, 2024 | 41.69 Mn |
| Dec 31, 2023 | 46.20 Mn |
| Sep 30, 2023 | 40.86 Mn |
| Jun 30, 2023 | 38.64 Mn |
| Mar 31, 2023 | 40.61 Mn |
| Dec 31, 2022 | 38.33 Mn |
| Sep 30, 2022 | 31.99 Mn |
| Jun 30, 2022 | 35.03 Mn |
| Mar 31, 2022 | 40.69 Mn |
| Dec 31, 2021 | 46.91 Mn |
| Sep 30, 2021 | 46.59 Mn |