NMI Holdings (NMIH) Operating Margin (2013 - 2026)
NMI Holdings (NMIH) posted quarterly Operating Margin of 16.14% for Q2 2026, up 179.0% year-over-year from 5.79% in Q2 2025, and up 3.55% on a QoQ basis from 15.59% in Q1 2026.
NMI Holdings (NMIH) Operating Margin (2013 - 2026) Analysis & Trends
NMI Holdings has reported Operating Margin for 14 years, with the latest figure at 16.14% in Q2 2026.
- Operating Margin for Q2 2026 came in at 16.14%, up 179.0% year-over-year; the trailing twelve-month figure through Jun 2026 was 15.5% (up 169.0% YoY), and the FY2025 annual result was 14.57%, up 147.0% from the prior year.
- Operating Margin rose to 16.14% in Q2 2026, from 15.59% in the prior quarter.
- Over five years, Operating Margin peaked at 16.14% in Q2 2026 and troughed at 8.75% in Q1 2022.
- A 5-year average of 12.76% and a median of 13.15% in 2024 frame the typical range for Operating Margin.
- The widest annual swing landed in 2023, when Operating Margin surged 257 bps; it then slipped 8 bps in 2024.
- A 5-year view of Operating Margin shows it stood at 11.16% in 2022, then climbed by 23 bps to 13.73% in 2023, then decreased by 1 bps to 13.64% in 2024, then climbed by 12 bps to 15.23% in 2025, then advanced by 6 bps to 16.14% in 2026.
- Per Business Quant data, the three most recent Operating Margin figures were 16.14% in Q2 2026, 15.59% in Q1 2026, and 15.23% in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Fidelity National Financial | 12.71 Bn | 8.14 Bn | 3.59 Bn | 20.02% |
| 2 | First American Financial | 7.40 Bn | 4.28 Bn | 1.77 Bn | 8.68% |
| 3 | Axis Capital Holdings | 7.28 Bn | 6.49 Bn | 819.78 Mn | -35.20% |
| 4 | Enact Holdings | 6.86 Bn | 6.36 Bn | 284.04 Mn | 23.07% |
| 5 | Mgic Investment | 6.46 Bn | 6.23 Bn | 284.40 Mn | 20.13% |
| 6 | Essent | 6.22 Bn | 6.22 Bn | 313.73 Mn | 16.99% |
| 7 | Ryan Specialty Holdings | 5.38 Bn | 5.24 Bn | - | 19.67% |
| 8 | Radian | 4.96 Bn | 4.22 Bn | 380.01 Mn | 12.99% |
| 9 | NMI Holdings | 3.45 Bn | 3.37 Bn | 157.40 Mn | 16.14% |
| 10 | Assured Guaranty | 3.29 Bn | -503.07 Mn | 156.00 Mn | 50.26% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 16.14% |
| 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% |