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NMI Holdings, Inc.: Business Overview, Financials & Competitive Analysis

NMI Holdings, Inc. scores 8/10 on the AskCyborg Cyborg Score (Strong). High-quality mortgage insurer with compelling valuation, strong capital position, and steady earnings growth in a structural tailwind market. According to 4 analysts, the average rating for NMIH stock is "Buy." The company demonstrates strong fundamentals with consistent earnings growth and disciplined underwriting. Trading at attractive valuations relative to peers.

What is NMI Holdings, Inc.'s industry? NMI Holdings, Inc. (nationalmi.com) operates in Insurance. AskCyborg classifies NMI Holdings, Inc. under Insurance in its company registry.

NMI Holdings, Inc. (NASDAQ: NMIH) is the parent company of National Mortgage Insurance Corporation (National MI), a U.S.-based private mortgage insurance company enabling low down payment borrowers to realize home own...

8/ 10Strong

Cyborg Score thesis

High-quality mortgage insurer with compelling valuation, strong capital position, and steady earnings growth in a structural...

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Industry Insurance
3 named competitors
3 recent developments
11 analyst dimensions
Synthesized from analyst-debate stress-testing across 11 dimensions and hundreds of data points. Methodology →
Cyborg Score recalibrated: September 28, 2026
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What's in This Report
NMI Holdings, Inc. OverviewStrategic ProfileCompetitive LandscapeIndustry ContextKey facts
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NMI Holdings, Inc. Overview

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NMI Holdings, Inc. (NASDAQ: NMIH) is the parent company of National Mortgage Insurance Corporation (National MI), a U.S.-based private mortgage insurance company enabling low down payment borrowers to realize home ownership while protecting lenders and investors against losses related to a borrower's default. The company serves as a critical infrastructure provider in the residential mortgage ecosystem.

Strategic Profile

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In 2025, NMI Holdings's revenue was $706.44 million, up 8.52% year-over-year, with earnings increasing 8.00%. The company maintains a robust balance sheet with PMIERs available assets of $3.2 billion against required assets of $1.9 billion, positioned for sustained performance and long-term shareholder value.

Competitive Landscape

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Primary competitors in the private mortgage insurance space include Essent Group Ltd., Enact Holdings, Inc., Radian Group Inc., Octave Specialty Group, Inc., and Assured Guaranty Ltd. NMI competes on customer service, technology-driven underwriting, and competitive risk-based pricing.

Industry Context

NMI Holdings, Inc. operates in Insurance.

Key facts

Founded: 2011 · Headquarters: Emeryville, California · Employees: 225 · Revenue: $706M · Market cap: $3.0B

What the analysts stress-tested

The top findings that survived the multi-agent debate for NMI Holdings, Inc..

  • Strong Q4 2025 performance with adjusted EPS of $1.20, exceeding prior year's $1.07
  • Robust capital position with $1.3 billion in excess statutory capital above requirements
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Recent developments

Material events tracked by the AskCyborg corpus.

  • February 2026Appointed Renu Agrawal to Board of Directors; brings extensive banking and insurance experience
  • February 2026Reported Q4 2025 net income of $94.2 million ($1.20 per diluted share), beating estimates
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Named competitors

Pulled from the analyst-debate framework. Click any competitor to see their Cyborg Score.

Essent GroupPrivate mortgage insurance provider→EnactMortgage insurance and risk management→Radian GroupMortgage insurance and services→

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Industry context

NMI Holdings, Inc. operates in Insurance. See how the rest of the sector scores on the Cyborg framework.

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Frequently asked questions

What does NMI Holdings, Inc. do?+
NMI Holdings, Inc. (NASDAQ: NMIH) is the parent company of National Mortgage Insurance Corporation (National MI), a U.S.-based private mortgage insurance company enabling low down payment borrowers to realize home own...
What is NMI Holdings, Inc.'s Cyborg Score?+
NMI Holdings, Inc. has a Cyborg Score of 8/10 (Strong). The score synthesizes business model, financials, leadership, competitive position, technology, marketing, and ESG dimensions across hundreds of data points.
Who are NMI Holdings, Inc.'s main competitors?+
Named competitors include Essent Group, Enact, Radian Group. The full competitive landscape is in the AskCyborg report.
How can I get the full NMI Holdings, Inc. research report?+
Get the report plus analyst-debate audio at askcyborg.com -- no credit card required for preview access. Pro adds saved-company audio playlists and monitoring.
How current is the NMI Holdings, Inc. research?+
The Cyborg Score is recalibrated weekly. Recent developments are tracked continuously and surfaced in every report.

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More Insurance research

Companies in the same sector and named competitors, ranked by Cyborg Score.

8The Company for Cooperative Insurance6Suncorp Group Limited6Walaa Cooperative Insurance CompanySkyward Specialty Insurance Group7Enact Holdings, Inc.