NMI Holdings (NMIH) Operating Expenses (2012 - 2026)
NMI Holdings (NMIH) reported Operating Expenses of $58.5 million for Q1 2026, up 39.78% on a YoY basis from $41.9 million in Q1 2025, and down 1.77% sequentially from $59.6 million in Q4 2025.
NMI Holdings (NMIH) Operating Expenses (2012 - 2026) Analysis & Trends
NMI Holdings (NMIH) has 15 years of Operating Expenses data on file, last reported at $58.5 million in Q1 2026.
- For the quarter ending Q1 2026, Operating Expenses rose 39.78% year-over-year to $58.5 million; the trailing twelve-month figure through Mar 2026 stood at $223.3 million (up 18.93% YoY), and the FY2025 full-year result was $206.6 million, up 10.17% from the prior year.
- Operating Expenses fell to $58.5 million in Q1 2026, from $59.6 million in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of $59.6 million in Q4 2025 to a low of $32.0 million in Q3 2022.
- A 5-year average of $45.0 million and a median of $41.9 million in 2025 frame the typical range for Operating Expenses.
- Across the five-year window, Operating Expenses tumbled 31.34% in 2022 and jumped 39.78% in 2026, its largest moves.
- Tracing NMIH's Operating Expenses over 5 years: stood at $38.3 million in 2022, then increased by 20.54% to $46.2 million in 2023, then rose by 20.42% to $55.6 million in 2024, then advanced by 7.11% to $59.6 million in 2025, then decreased by 1.77% to $58.5 million in 2026.
- Business Quant data shows NMIH's Operating Expenses at $58.5 million in Q1 2026, $59.6 million in Q4 2025, and $55.0 million in Q3 2025.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Fidelity National Financial | 13.08 Bn | 10.42 Bn | 3.16 Bn | 2.73 Bn |
| 2 | Axis Capital Holdings | 8.50 Bn | 7.97 Bn | 613.18 Mn | 1.34 Bn |
| 3 | First American Financial | 7.10 Bn | 4.22 Bn | 1.77 Bn | 1.83 Bn |
| 4 | Enact Holdings | 6.51 Bn | 5.96 Bn | 205.69 Mn | 98.69 Mn |
| 5 | Mgic Investment | 6.26 Bn | 6.23 Bn | 263.84 Mn | 90.25 Mn |
| 6 | Essent | 6.05 Bn | 6.05 Bn | 211.88 Mn | 129.35 Mn |
| 7 | Radian | 5.96 Bn | 5.91 Bn | 304.36 Mn | 2.23 Mn |
| 8 | Assured Guaranty | 3.78 Bn | 3.28 Bn | 65.00 Mn | 227.00 Mn |
| 9 | NMI Holdings | 3.17 Bn | 3.10 Bn | 134.15 Mn | 58.53 Mn |
| 10 | Employers Holdings | 957.12 Mn | 620.72 Mn | 51.80 Mn | 194.80 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| 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 |
| Jun 30, 2021 | 47.11 Mn |