NMIH (NMI Holdings) EBIT: $521.9 Mil (TTM As of Mar. 2026)


NMIH NMI Holdings Inc NMIH
82 GF Score
Price $39.43
GF Value $39.81
Valuation Fairly Valued
! 2 Warning Signs
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What is NMI Holdings EBIT?

NMI Holdings NMIH +2.76% 82 EBIT is $521.9 Mil as of Mar. 2026. GuruFocus rates NMIH with a GF Score™ of 82/100 and a GF Value™ of $39.81 (Fairly Valued). The stock has 2 warning signs investors should review.

NMI Holdings's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2026 was $132.1 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2026 was $521.9 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. NMI Holdings's annualized ROC % for the quarter that ended in Mar. 2026 was 11.28%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. NMI Holdings's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 15.61%.


NMI Holdings  (NAS:NMIH) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

NMI Holdings's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=EBIT * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=528.208 * ( 1 - 20.5% )/( (3704.6028 + 3743.29775)/ 2 )
=419.92536/3723.950275
=11.28 %

where

Invested Capital(Q: Dec. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Balance Sheet Cash And Cash Equivalents - 5% * Revenue )
=3841.098 - 101.595 - ( 43.937 - 5% * 180.736 )
=3704.6028

Invested Capital(Q: Mar. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Balance Sheet Cash And Cash Equivalents - 5% * Revenue )
=3909.638 - 104.835 - ( 70.679 - 5% * 183.475 )
=3743.29775

Note: The EBIT data used here is four times the quarterly (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

ROC (Joel Greenblatt) % does not apply to banks and insurance companies.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

NMI Holdings's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Mar. 2026 )
=521.857/3343.940
=15.61 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


NMI Holdings EBIT Related Terms


NMI Holdings EBIT Historical Data

* Premium members only.

The historical data trend for NMI Holdings's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

NMI Holdings EBIT Chart

NMI Holdings Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 328.52 409.47 444.92 500.31 528.28

NMI Holdings Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
EBIT Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 138.48 130.72 130.81 128.28 132.05

NMIH vs AGO, RYAN, RDN: EBIT Comparison

For the Insurance - Specialty subindustry, NMI Holdings's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


NMI Holdings EV-to-EBIT vs Insurance Industry

For the Insurance industry and Financial Services sector, NMI Holdings's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where NMI Holdings's EV-to-EBIT falls into.


NMIH
82GF Score
NMI Holdings Inc NMIH
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
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NMI Holdings EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $521.9 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about EBIT →
What does a EBIT of $521.9 Mil mean?
NMI Holdings (NMIH) has a EBIT of $521.9 Mil as of Mar. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on NMI Holdings.
Is NMI Holdings' EBIT too high?
NMI Holdings' current EBIT is $521.9 Mil. Overall, NMI Holdings has a GF Score™ of 82/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does NMI Holdings' EBIT compare to AGO and RYAN?
NMI Holdings' EBIT of $521.9 Mil can be compared against companies in the Insurance industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EBIT for an Insurance company?
A good EBIT depends on the Insurance industry context. However, EBIT should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EBIT mean?
A high EBIT can signal that a stock is expensive relative to its fundamentals. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on NMI Holdings. NMI Holdings's current EBIT is $521.9 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is NMI Holdings stock overvalued right now?
Based on GuruFocus' analysis, NMI Holdings (NMIH) is currently considered Fairly Valued. The stock's GF Value™ is $39.81, compared to a current price of $39.43 — trading 1% below its estimated fair value. The current EBIT is $521.9 Mil. NMI Holdings' overall GF Score™ is 82/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EBIT calculated?
EBIT is calculated from a company's financial statements. For NMI Holdings (NMIH), the current EBIT is $521.9 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is NMI Holdings (NMIH) Overvalued in 2026?

Based on GuruFocus' analysis, NMI Holdings stock appears to be undervalued. The current stock price of $39.43 is trading 1% below its estimated GF Value™ of $39.81. GuruFocus considers NMI Holdings to be Fairly Valued.

Key valuation signals for NMIH:

  • EBIT: $521.9 Mil
  • GF Value™: $39.81 vs. price of $39.43 (1% below fair value)
  • GF Score™: 82/100 with 2 warning signs

No single metric tells the full story. See the NMIH stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


NMI Holdings Business Description

Address 2100 Powell Street, Emeryville, CA, USA, 94608
NMI Holdings Inc through its subsidiaries provides private mortgage guaranty insurance. The company offers mortgage insurance, reinsurance on loans, and outsourced loan review services to mortgage loan originators. It serves national and regional mortgage banks, money center banks, credit unions, community banks, builder-owned mortgage lenders, Internet-sourced lenders, and other non-bank lenders. It protects lenders and investors from default-related losses on a portion of the unpaid principal balance of a covered mortgage.
82GF Score

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EBIT is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$39.43
Price
$39.81
GF Value