NI Holdings (NODK) Gross Margin (2017 - 2026)
NI Holdings (NODK) posted quarterly Gross Margin of 60.81% for Q1 2026, up 1474.0% year-over-year from 3.86% in Q1 2025, and up 88.53% quarter-over-quarter from 32.26% in Q4 2025.
NI Holdings (NODK) Gross Margin (2017 - 2026) Analysis & Trends
NI Holdings (NODK) has reported Gross Margin for 10 consecutive years, with 60.81% the latest figure, recorded in Q1 2026.
- In Q1 2026, Gross Margin rose 1474.0% year-over-year to 60.81%; the TTM figure through Mar 2026 stood at 30.59% (down 381.0% YoY), while the FY2025 annual figure was 25.81%, down 1039.0% from the prior year.
- Gross Margin rose to 60.81% in Q1 2026 per NODK's latest filing, from 32.26% in the prior quarter.
- Across five years, Gross Margin topped out at 62.56% in Q4 2023 and bottomed at 43.28% in Q2 2022.
- Historically, Gross Margin has averaged 29.9% across 5 years, with a median of 31.88% in 2023.
- Annual changes were most pronounced in 2022 — Gross Margin jumped 1195633 bps — and 2025, when it tumbled 2328 bps.
- NI Holdings' Gross Margin stood at 41.62% in 2022, then jumped by 50 bps to 62.56% in 2023, then fell by 11 bps to 55.54% in 2024, then tumbled by 42 bps to 32.26% in 2025, then soared by 89 bps to 60.81% in 2026.
- Business Quant data shows NODK's Gross Margin at 60.81% in Q1 2026, 32.26% in Q4 2025, and 26.61% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Chubb | 134.90 Bn | 121.13 Bn | 9.13 Bn | 57.69% |
| 2 | Progressive | 124.06 Bn | 119.06 Bn | 9.04 Bn | 38.28% |
| 3 | Travelers Companies | 79.33 Bn | 55.58 Bn | 4.83 Bn | 44.93% |
| 4 | Allstate | 67.38 Bn | 28.65 Bn | 16.28 Bn | 87.55% |
| 5 | Fairfax Financial Holdings | 35.35 Bn | 35.35 Bn | - | - |
| 6 | Cincinnati Financial | 26.76 Bn | 24.87 Bn | 2.39 Bn | 55.85% |
| 7 | Loews | 23.32 Bn | 1.02 Bn | 2.57 Bn | 54.18% |
| 8 | Markel | 23.18 Bn | 6.30 Bn | 2.83 Bn | 70.46% |
| 9 | Assurant | 14.03 Bn | 11.99 Bn | 2.71 Bn | 78.34% |
| 10 | NI Holdings | 322.99 Mn | -53.49 Mn | 21.82 Mn | 31.06% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 31.06% |
| Mar 31, 2026 | 60.81% |
| Dec 31, 2025 | 32.26% |
| Sep 30, 2025 | 26.61% |
| Jun 30, 2025 | 8.76% |
| Mar 31, 2025 | 46.07% |
| Dec 31, 2024 | 55.54% |
| Sep 30, 2024 | 21.82% |
| Jun 30, 2024 | 18.56% |
| Mar 31, 2024 | 42.56% |
| Dec 31, 2023 | 62.56% |
| Sep 30, 2023 | 31.88% |
| Jun 30, 2023 | 23.79% |
| Mar 31, 2023 | 27.87% |
| Dec 31, 2022 | 41.62% |
| Sep 30, 2022 | 11.50% |
| Jun 30, 2022 | -43.28% |
| Mar 31, 2022 | 39.33% |
| Dec 31, 2021 | 16.63% |
| Sep 30, 2021 | 22.30% |