NMI Holdings (NMIH) Operating Margin (2013 - 2026)
NMI Holdings (NMIH) reported Operating Margin of 18.48% for Q1 2026, up 262.0% on a YoY basis from 5.1% in Q1 2025, and up 72.29% sequentially from 10.72% in Q4 2025.
NMI Holdings (NMIH) Operating Margin (2013 - 2026) Analysis & Trends
NMI Holdings (NMIH) has 14 years of Operating Margin data on file, last reported at 18.48% in Q1 2026.
- For the quarter ending Q1 2026, Operating Margin rose 262.0% year-over-year to 18.48%; the trailing twelve-month figure through Mar 2026 stood at 14.64% (up 74.0% YoY), and the FY2025 full-year result was 14.57%, up 147.0% from the prior year.
- Operating Margin advanced to 18.48% in Q1 2026, from 10.72% in the prior quarter.
- In the past five years, Operating Margin ranged from a high of 18.48% in Q1 2026 to a low of 8.75% in Q1 2022.
- A 5-year average of 12.85% and a median of 12.76% in 2024 frame the typical range for Operating Margin.
- Peak annual rise in Operating Margin reached 416 bps in 2025, while the deepest fall reached 292 bps in 2025.
- Tracing NMIH's Operating Margin over 5 years: stood at 11.16% in 2022, then rose by 23 bps to 13.73% in 2023, then declined by 1 bps to 13.64% in 2024, then declined by 21 bps to 10.72% in 2025, then surged by 72 bps to 18.48% in 2026.
- Business Quant data shows NMIH's Operating Margin at 18.48% in Q1 2026, 10.72% in Q4 2025, and 17.69% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Fidelity National Financial | 13.08 Bn | 10.42 Bn | 3.16 Bn | 25.48% |
| 2 | Axis Capital Holdings | 8.50 Bn | 7.97 Bn | 613.18 Mn | -48.79% |
| 3 | First American Financial | 7.10 Bn | 4.22 Bn | 1.77 Bn | 8.68% |
| 4 | Enact Holdings | 6.51 Bn | 5.96 Bn | 205.69 Mn | 29.20% |
| 5 | Mgic Investment | 6.26 Bn | 6.23 Bn | 263.84 Mn | 20.78% |
| 6 | Essent | 6.05 Bn | 6.05 Bn | 211.88 Mn | 22.78% |
| 7 | Radian | 5.96 Bn | 5.91 Bn | 304.36 Mn | 17.32% |
| 8 | Assured Guaranty | 3.78 Bn | 3.28 Bn | 65.00 Mn | 112.20% |
| 9 | NMI Holdings | 3.17 Bn | 3.10 Bn | 134.15 Mn | 18.48% |
| 10 | Employers Holdings | 957.12 Mn | 620.72 Mn | 51.80 Mn | 15.64% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 18.48% |
| Dec 31, 2025 | 10.72% |
| Sep 30, 2025 | 17.69% |
| Jun 30, 2025 | 14.36% |
| Mar 31, 2025 | 15.86% |
| Dec 31, 2024 | 13.64% |
| Sep 30, 2024 | 13.53% |
| Jun 30, 2024 | 12.76% |
| Mar 31, 2024 | 12.44% |
| Dec 31, 2023 | 13.73% |
| Sep 30, 2023 | 13.72% |
| Jun 30, 2023 | 11.58% |
| Mar 31, 2023 | 10.89% |
| Dec 31, 2022 | 11.16% |
| Sep 30, 2022 | 10.10% |
| Jun 30, 2022 | 9.04% |
| Mar 31, 2022 | 8.75% |
| Dec 31, 2021 | 8.82% |
| Sep 30, 2021 | 8.65% |
| Jun 30, 2021 | 8.46% |