What is the 13F Pro Quality Score for NMIH?

13F Pro ranks NMI Holdings, Inc. (NMIH) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View NMIH's current score at https://13fpro.ai/company/NMIH (free sign-up required for the full ranking).

Which hedge funds own the most NMIH stock?

Based on the most recent Form 13F-HR filings on SEC EDGAR, the largest reported institutional holders of NMIH include BlackRock,, DIMENSIONAL FUND ADVISORS, STATE STREET. Holdings are reported quarterly within 45 days of quarter-end and updated on https://13fpro.ai/company/NMIH as soon as new 13F filings post.

Where does 13F Pro source NMIH data?

All NMI Holdings, Inc. fundamentals and ownership data come directly from SEC EDGAR. NMI Holdings, Inc. files with the SEC under CIK 1547903. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is NMIH in?

NMI Holdings, Inc. (NMIH) is classified in the Financials sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/financials.

What drives NMIH's revenue?

Per NMI Holdings, Inc.'s latest 10-Q filed with the SEC on 2026-07-31, the biggest revenue drivers are: Net premiums earned ($157.5M, +6% YoY); Net investment income ($30.3M, +22% YoY); Other revenues ($265K, +62% YoY). Figures are extracted from the filing text and machine-verified against the document. Full breakdown at https://13fpro.ai/company/NMIH.

What are NMIH's largest expenses?

NMI Holdings, Inc.'s latest 10-Q reports these as the largest expense items: Underwriting and operating expenses ($30.5M, +3% YoY); Insurance claims and claim expenses ($13.1M, -2% YoY); Interest expense ($7.1M, flat YoY). Sourced directly from SEC EDGAR filing text for Q2 FY2026 (quarter ended June 30, 2026).

How often is NMIH research updated on 13F Pro?

NMIH's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

NMI Holdings, Inc.(NMIH)Stock Analysis

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13F Pro Quality Score

64.4/100

Rank #550 of 2,962 stocksTOP 25%

View Financials peers →

Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Nov 14, 2026.

Revenue Growth

60.7/100

Profitability

97.8/100

Balance Sheet

86.2/100

Earnings Quality

43.7/100

Free Cash Flow

97.3/100

Institutional Flow

38.9/100

Revenue Scale

43.7/100

Dilution Risk

33.7/100

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Why NMIH Scores 64/100

exact factor attribution · 2026-09-11

NMIH's composite is driven by profitability and free cash flow, held back by scale and shareholder dilution. Bars show each factor's exact push vs. a median company, using the same weights the ranking engine applies.

Profitability

+9.6 pts

98th pct

Free cash flow

+7.1 pts

97th pct

Capital efficiency

+4.8 pts

86th pct

Revenue growth

+2.9 pts

61th pct

Earnings growth

+0.3 pts

54th pct

Earnings quality

-0.6 pts

44th pct

Institutional flow

-0.7 pts

39th pct

Shareholder dilution

-1.1 pts

34th pct

Scale

-1.3 pts

44th pct

Latest change (2026-08-02): 74 → 70 · ↓ Revenue growth 66→49; ↓ Earnings growth 55→46

Factor percentiles are cross-sectional ranks across the ~2,800-stock scored universe, computed from SEC EDGAR filings. Not investment advice.

NMIH Stock Analysis & AI Quality Score

Data updated 2026-09-11

AI stock analysis and institutional research for NMI Holdings, Inc. (NMIH), a Financials sector company. 13F Pro's AI-powered ranking engine scores NMIH at 64.4/100 on a 32-signal composite quality model, placing it at rank #550 of 2,962 stocks — the top 25% of the AI-ranked universe. NMIH scores in the top quartile across profitability (97.8), free cash flow (97.3), balance sheet strength (86.2). Areas of concern include institutional flow (38.9), which score below median versus the broader universe. Shareholder dilution risk is elevated at 33.7/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q2 2026), NMI Holdings, Inc. reports quarterly revenue of $187.9M, net income of $105.8M, an operating margin of 72.9%. Top institutional holders of NMIH by reported 13-F value include BlackRock, DIMENSIONAL FUND ADVISORS, STATE STREET, based on the most recent SEC filings. NMIH trades on the Nasdaq exchange and files with the SEC under CIK 1547903. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate NMIH daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for NMI Holdings, Inc. directly from SEC EDGAR. NMI Holdings, Inc.'s 13F Pro composite quality score has ranged between 61 and 78 since 2021, currently 64.4 — a declining long-term trajectory across 68 quarterly and live scoring snapshots.

✦

Fun facts about NMI Holdings, Inc.

Quirks, history, and lore behind NMIH — the kind of stuff that makes a stock memorable.

1
The Basics
U.S. financial services company · small-cap · listed on Nasdaq · headquartered in California.
2
The Numbers
Annual revenue in the hundreds of millions of dollars, with a business model that depends entirely on the health of the U.S. housing market — when home sales slow, so does this company.
3
The History
Founded in 2012 — right after the housing crisis torched its predecessors — it was built from scratch to prove that private mortgage insurance could be done responsibly this time around.
4
The Secret
Its entire existence is a bet that American homebuyers won't default en masse; it collects premiums from borrowers who put down less than 20% and hopes never to pay a claim.
5
The Lore
It won federal approval to become a GSE-eligible mortgage insurer — a rare blessing from Fannie Mae and Freddie Mac — and quickly grew into one of the industry's major players.
6
The Giveaway
The ticker is four letters starting with NMI, which is also a neat abbreviation for exactly what it does: National Mortgage Insurance.

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What's Driving NMIH's Business? Latest 10-Q Breakdown

✓ 29/29 datapoints verified

AI-extracted from NMI Holdings, Inc.'s 10-Q filed 2026-07-31 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.

NMIH grew Q2 FY2026 total revenue 8% YoY to $187.9M and net income 10% to $105.8M as NIW rose 29% and the combined ratio improved to 27.7%, even as claims severity climbed to 89% from 82%.

Biggest Revenue Drivers

Net premiums earned$157.5M+6% YoY

Growth in monthly IIF and direct monthly pay premium receipts, partially offset by a reduction in single premium policy contribution.

Net investment income$30.3M+22% YoY

Growth in the size of the total invested asset base and an increase in portfolio book yield from reinvestment at higher rates.

Biggest Revenue Drivers

Total revenue: $187.9M+8% YoY

Net premiums earned$157.5M+6% YoY

Growth in monthly IIF and direct monthly pay premium receipts, partially offset by a reduction in single premium policy contribution.

Net investment income$30.3M+22% YoY

Growth in the size of the total invested asset base and an increase in portfolio book yield from reinvestment at higher rates.

Other revenues$265K+62% YoY

Underwriting fee revenue from NMIS outsourced loan review services, reflecting higher review volume.

Largest Expense Items

Underwriting and operating expenses$30.5M+3% YoY

Increase in technology expenses and employee compensation, partially offset by higher ceding commissions received under QSR Transactions and lower depreciation/amortization.

Insurance claims and claim expenses$13.1M-2% YoY

New defaulted loan reserves and aging case reserves were offset by the release of reserves from cure activity and favorable loss development trends.

Interest expense$7.1Mflat YoY

Carrying costs of the 2024 Notes and 2024 Revolving Credit Facility, essentially unchanged period over period.

Margins: Combined ratio improved to 27.7% from 28.8% YoY as the loss ratio fell to 8.3% (from 9.0%) and the expense ratio fell to 19.4% (from 19.8%), reflecting premium growth outpacing claims and operating expense growth.

Watch Items from the Filing

Claims severity rose to 89% in Q2 2026 from 82% in Q2 2025, driven by a higher proportion of claims on more recently originated loans with less accumulated home equity.
Annual persistency fell to 81.4% at June 30, 2026 from 84.1% a year earlier, meaning a larger share of in-force policies (the base for monthly premium revenue) is running off.
Loans in default rose to 8,020 (1.16% default rate) from 7,661 (1.12%) YoY, and gross claims reserves increased to $214.6M from $196.4M.
NMIC paid a $101.0M dividend to NMIH on June 3, 2026, using its full ordinary dividend capacity under Wisconsin law for the twelve months ending December 31, 2026.

AI-extracted and verified against SEC EDGAR filing text. Not investment advice.

Read the full 10-Q on SEC EDGAR →Share on X

Revenue

Q2 2026

$187.9M

Net Income

Q2 2026

$105.8M

Free Cash Flow

Q2 2026

$140.2M

Operating Margin

Q2 2026

72.9%

ROIC

Q2 2026

20.3%

Period

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro

Revenue

+8.5% YoY

$706.4MFY 2025

FY22 $523.3MFY23 $579.0MFY24 $651.0MFY25 $706.4M

Net Income

+8.0% YoY

$388.9MFY 2025

FY22 $292.9MFY23 $322.1MFY24 $360.1MFY25 $388.9M

EPS (Diluted)

+11.1% YoY

$4.92FY 2025

FY22 $3.39FY23 $3.84FY24 $4.43FY25 $4.92

Total Assets

+14.7% YoY

$3.84BFY 2025

FY22 $2.52BFY23 $2.94BFY24 $3.35BFY25 $3.84B

Total Debt

—FY 2025

FY22 $396.1MFY23 —FY24 —FY25 —

Op. Cash Flow

+6.5% YoY

$419.3MFY 2025

FY22 $313.4MFY23 $342.7MFY24 $393.6MFY25 $419.3M

Free Cash Flow

+6.7% YoY

$412.5MFY 2025

FY22 $302.8MFY23 $333.3MFY24 $386.7MFY25 $412.5M

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Revenue	$706.4M +8.5%	$651.0M +12.4%	$579.0M +10.6%	$523.3M +7.9%	$485.1M +12.0%	$433.3M
Net Income	$388.9M +8.0%	$360.1M +11.8%	$322.1M +10.0%	$292.9M +26.7%	$231.1M +34.7%	$171.6M
EPS (Diluted)	$4.92 +11.1%	$4.43 +15.4%	$3.84 +13.3%	$3.39 +27.9%	$2.65 +24.4%	$2.13
Total Assets	$3.84B +14.7%	$3.35B +13.9%	$2.94B +16.9%	$2.52B +2.7%	$2.45B +13.1%	$2.17B
Total Debt	—	—	—	$396.1M +0.4%	$394.6M +0.3%	$393.3M
Operating Cash Flow	$419.3M +6.5%	$393.6M +14.9%	$342.7M +9.3%	$313.4M -3.8%	$325.7M +28.9%	$252.6M
Free Cash Flow	$412.5M +6.7%	$386.7M +16.0%	$333.3M +10.1%	$302.8M -3.4%	$313.5M +30.4%	$240.4M

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Available Research

13F Pro tracks comprehensive data for NMI Holdings, Inc. including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of NMIH

BlackRock, Inc.
$541.9M13,189,334 sh
DIMENSIONAL FUND ADVISORS LP
$191.7M4,665,910 sh
STATE STREET CORP
$142.9M3,478,523 sh
VANGUARD CAPITAL MANAGEMENT LLC
$140.5M3,420,198 sh
AMERICAN CENTURY COMPANIES INC
$125.2M3,046,624 sh
VANGUARD PORTFOLIO MANAGEMENT LLC
$119.2M2,901,852 sh
GEODE CAPITAL MANAGEMENT, LLC
$86.7M2,110,234 sh
NOMURA ASSET MANAGEMENT INTERNATIONAL INC.
$77.4M1,883,225 sh
Van Berkom & Associates Inc.
$76.4M1,859,025 sh
FULLER & THALER ASSET MANAGEMENT, INC.
$54.0M1,314,375 sh

Fund	Value	Shares
BlackRock, Inc.	$541.9M	13,189,334
DIMENSIONAL FUND ADVISORS LP	$191.7M	4,665,910
STATE STREET CORP	$142.9M	3,478,523
VANGUARD CAPITAL MANAGEMENT LLC	$140.5M	3,420,198
AMERICAN CENTURY COMPANIES INC	$125.2M	3,046,624
VANGUARD PORTFOLIO MANAGEMENT LLC	$119.2M	2,901,852
GEODE CAPITAL MANAGEMENT, LLC	$86.7M	2,110,234
NOMURA ASSET MANAGEMENT INTERNATIONAL INC.	$77.4M	1,883,225
Van Berkom & Associates Inc.	$76.4M	1,859,025
FULLER & THALER ASSET MANAGEMENT, INC.	$54.0M	1,314,375

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Is NMIH a good stock to buy?

13F Pro's AI-powered analysis of NMI Holdings, Inc. (NMIH) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Financials sector (listed on Nasdaq). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for NMIH are available on the NMIH stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing. NMIH is classified as a mid company.

Which hedge funds own NMIH?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling NMIH. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of NMI Holdings, Inc.'s investment landscape.