NMI Holdings (NMIH) Operating Margin (2013 - 2026)
NMI Holdings (NMIH) reported Operating Margin of 65.89% for Q2 2026, up 2.50 percentage points from 63.39% a year earlier and up 9.05 percentage points from the prior quarter.
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Analysis
NMI Holdings (NMIH) Operating Margin (2013 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, NMI Holdings' Operating Margin came in at 59.28%, down 5.42 percentage points year-over-year; for FY2025, it came in at 62.59%, down 3.75 percentage points from FY2024.
- Operating Margin has declined for three consecutive years, though with a four-year change of +3.95 percentage points (FY2021 to FY2025).
- By year, Operating Margin came in at 66.34% in FY2024 (-1.03 pp), 67.37% in FY2023 (-4.04 pp), 71.41% in FY2022 (+12.77 pp) and 58.63% in FY2021.
- The Q2 2026 figure ranks as the highest quarterly Operating Margin since Q1 2025.
- Year over year, Operating Margin gained in two of the last eight quarters, with an average year-over-year change of -4.42 percentage points.
- The high point for year-over-year Operating Margin in five years was Q2 2022 (a gain of 15.17 percentage points); the low point was Q1 2026 (a drop of 16.41 percentage points).
- Per Business Quant data, the three quarters before Q2 2026 came in at 56.84% (Q1 2026), 55.32% (Q4 2025) and 58.84% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Berkshire Hathaway | 1,248.67 Bn | -185.49 Bn | 56.71 Bn | -32.86% |
| 2 | Chubb | 141.22 Bn | 92.15 Bn | 8.67 Bn | 22.27% |
| 3 | Progressive | 134.26 Bn | 109.78 Bn | 8.29 Bn | 14.33% |
| 4 | Marsh & Mclennan Companies | 98.32 Bn | 90.72 Bn | - | 17.70% |
| 5 | Travelers Companies | 82.09 Bn | 59.57 Bn | 5.93 Bn | 20.04% |
| 6 | Manulife Financial | 75.36 Bn | -19.02 Bn | - | - |
| 7 | Arthur J. Gallagher | 72.54 Bn | 67.17 Bn | 3.33 Bn | 17.18% |
| 8 | Aon | 71.33 Bn | 50.56 Bn | - | 19.73% |
| 9 | Allstate | 65.04 Bn | 22.10 Bn | -9.85 Bn | -3.13% |
| 10 | NMI Holdings | 2.90 Bn | 2.64 Bn | 158.44 Mn | 67.94% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 67.94% |
| Jun 30, 2026 | 76.67% |
| Mar 31, 2026 | 71.97% |
| Dec 31, 2025 | 70.98% |
| Sep 30, 2025 | 73.21% |
| Jun 30, 2025 | 75.22% |
| Mar 31, 2025 | 79.93% |
| Dec 31, 2024 | 70.85% |
| Sep 30, 2024 | 76.10% |
| Jun 30, 2024 | 82.24% |
| Mar 31, 2024 | 78.47% |
| Dec 31, 2023 | 59.06% |
| Sep 30, 2023 | 77.86% |
| Jun 30, 2023 | 78.56% |
| Mar 31, 2023 | 76.19% |
| Dec 31, 2022 | 70.83% |
| Sep 30, 2022 | 70.10% |
| Jun 30, 2022 | 68.51% |
| Mar 31, 2022 | 64.54% |
| Dec 31, 2021 | 59.27% |
API Access
NMI Holdings Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=NMIH&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "NMIH", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=NMIH&period=max&api_key=YOUR_API_KEY");
const data = await res.json();