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.
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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.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Chubb | 134.79 Bn | 121.03 Bn | 9.13 Bn | 57.69% |
| 2 | Progressive | 130.60 Bn | 125.60 Bn | 9.04 Bn | 38.28% |
| 3 | Travelers Companies | 79.12 Bn | 55.37 Bn | 6.23 Bn | 51.27% |
| 4 | Allstate | 67.86 Bn | 29.13 Bn | 16.28 Bn | 87.55% |
| 5 | Fairfax Financial Holdings | 36.18 Bn | 36.18 Bn | - | - |
| 6 | Cincinnati Financial | 26.94 Bn | 25.04 Bn | 2.39 Bn | 55.85% |
| 7 | Markel | 23.13 Bn | 6.24 Bn | 2.83 Bn | 70.46% |
| 8 | Loews | 22.61 Bn | 314.22 Mn | 2.57 Bn | 54.18% |
| 9 | Assurant | 14.26 Bn | 12.22 Bn | 2.71 Bn | 78.34% |
| 10 | NI Holdings | 320.07 Mn | -56.40 Mn | 21.82 Mn | 31.06% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 31.06% |
| Mar 31, 2026 | 60.81% |
| Dec 31, 2025 | 35.30% |
| Sep 30, 2025 | 26.61% |
| Jun 30, 2025 | 12.42% |
| Mar 31, 2025 | 46.07% |
| Dec 31, 2024 | 55.54% |
| Sep 30, 2024 | 26.84% |
| Jun 30, 2024 | 21.01% |
| Mar 31, 2024 | 46.11% |
| Dec 31, 2023 | 59.13% |
| Sep 30, 2023 | 31.88% |
| Jun 30, 2023 | 25.90% |
| Mar 31, 2023 | 27.87% |
| Dec 31, 2022 | 49.83% |
| Sep 30, 2022 | 11.86% |
| Jun 30, 2022 | -28.52% |
| Mar 31, 2022 | 42.33% |
| Dec 31, 2021 | 40.45% |
| Sep 30, 2021 | 22.30% |