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NICO HoldingsMSW:NICO 79 Equity-to-Asset is 0.07 as of Dec. 2025, which is 17% above its 10-year median of 0.06. GuruFocus rates MSW:NICO with a GF Score™ of 79/100 and a GF Value™ of MWK1,274.42 (Fairly Valued). The stock has 2 warning signs investors should review. Among 505 Insurance companies, NICO Holdings ranks worse than 84.16% on this metric.
Equity to Asset ratio is calculated as total stockholders equity divided by total asset. NICO Holdings's Total Stockholders Equity for the quarter that ended in Dec. 2025 was MWK299,704 Mil. NICO Holdings's Total Assets for the quarter that ended in Dec. 2025 was MWK4,207,412 Mil.
Therefore, NICO Holdings's Equity to Asset Ratio for the quarter that ended in Dec. 2025 was 0.07.
The historical rank and industry rank for NICO Holdings's Equity-to-Asset or its related term are showing as below:
MSW:NICO'
s Equity-to-Asset Range Over the Past 10 Years
Min: 0.05 Med: 0.06 Max: 0.07
Current: 0.07
During the past 5 years, the highest Equity to Asset Ratio of NICO Holdings was 0.07. The lowest was 0.05. And the median was 0.06.
MSW:NICO's Equity-to-Asset is ranked worse than 84.16% of 505
companies
in the Insurance industry
Industry Median: 0.26
vs MSW:NICO: 0.07
Equity to Asset ratio can vary greatly across different industries, as they have different capital structure. A company with smaller Equity to Asset ratio (more leveraged) may have higher ROE % because of the leverage.
For banks, the required minimum Equity to Asset ratio by regulation is 5%. Some stronger banks may have Equity to Asset Ratio of more than 10%.
NICO Holdings Equity-to-Asset Related Terms
NICO Holdings Equity-to-Asset Historical Data
* Premium members only.
The historical data trend for NICO Holdings's Equity-to-Asset 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.
NICO Holdings Equity-to-Asset Chart
NICO Holdings Annual Data
Trend
Dec20
Dec21
Dec22
Dec24
Dec25
Equity-to-Asset
0.00
0.05
0.06
0.06
0.07
NICO Holdings Semi-Annual Data
Dec20
Dec21
Dec22
Dec24
Dec25
Equity-to-Asset
0.00
0.05
0.06
0.06
0.07
MSW:NICO vs BRK.A, AIG, HIG: Equity-to-Asset Comparison
For the Insurance - Diversified subindustry, NICO Holdings's Equity-to-Asset, along with its competitors' market caps and Equity-to-Asset 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.
NICO Holdings Equity-to-Asset vs Insurance Industry
For the Insurance industry and Financial Services sector, NICO Holdings's Equity-to-Asset distribution charts can be found below:
* The bar in red indicates where NICO Holdings's Equity-to-Asset falls into.
Equity to Asset ratio measures the ratios of the portion of the asset owned by shareholders out of the total asset. It indicates the leverage of the company, and the amount of debt the company uses in its operation.
Equity to Asset ratio is calculated by dividing total stockholders equity by total asset.
NICO Holdings's Equity to Asset Ratio for the fiscal year that ended in Dec. 2025 is calculated as
* 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.
NICO Holdings (MSW:NICO) has a Equity-to-Asset of 0.07 as of Dec. 2025. Equity-to-asset ratio equals total company equity divided by total assets. It measures financial leverage. View historical data on NICO Holdings and its competitors. This is 17% above median its historical median of 0.06. Over the past decade, NICO Holdings' Equity-to-Asset has ranged from 0.05 to 0.07. According to the industry distribution chart, NICO Holdings ranks #425 out of 505 companies in the Insurance industry, placing it in the top 84.2%.
Is NICO Holdings' Equity-to-Asset too high?
NICO Holdings' current Equity-to-Asset of 0.07 is 17% above median its 10-year median of 0.06. Over the past 10 years, this metric has ranged from a low of 0.05 to a high of 0.07. The Insurance industry median Equity-to-Asset is 0.26. NICO Holdings' value of 0.07 is 73.1% below this industry median. Based on the distribution chart, NICO Holdings ranks #425 out of 505 companies in the Insurance industry, which is in the bottom quartile relative to peers. Overall, NICO Holdings has a GF Score™ of 79/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does NICO Holdings' Equity-to-Asset compare to BRK.A and AIG?
According to the Insurance industry distribution chart, NICO Holdings ranks #425 out of 505 companies for Equity-to-Asset. This places NICO Holdings in the lower half of its industry. The industry median Equity-to-Asset is 0.26. NICO Holdings' value of 0.07 is 73.1% below this benchmark. Historically, NICO Holdings' own Equity-to-Asset has ranged from 0.05 to 0.07 over the past decade. While the company's 10-year median is 0.06 vs. the industry median of 0.26, NICO Holdings has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Equity-to-Asset for an Insurance company?
The median Equity-to-Asset among Insurance companies is 0.26, based on 505 companies in the industry. Companies in the top quartile (top 25%) have a Equity-to-Asset significantly above this median, while those in the bottom quartile fall well below. However, Equity-to-Asset should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. NICO Holdings's current Equity-to-Asset of 0.07 is 73.1% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Equity-to-Asset mean?
A high Equity-to-Asset can signal that a stock is expensive relative to its fundamentals. Equity-to-asset ratio equals total company equity divided by total assets. It measures financial leverage. View historical data on NICO Holdings and its competitors. For the Insurance industry, the median Equity-to-Asset is 0.26 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. NICO Holdings's current Equity-to-Asset is 0.07, which is 17% above median its own 10-year median of 0.06. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is NICO Holdings stock overvalued right now?
Based on GuruFocus' analysis, NICO Holdings (MSW:NICO) is currently considered Fairly Valued. The stock's GF Value™ is MWK1,274.42, compared to a current price of MWK1,344.87 — trading 5.5% above its estimated fair value. The current Equity-to-Asset is 0.07, which is 17% above median its 10-year median of 0.06 and 73.1% below the Insurance industry median of 0.26. NICO Holdings' overall GF Score™ is 79/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Equity-to-Asset calculated?
Equity-to-Asset is calculated from a company's financial statements. For NICO Holdings (MSW:NICO), the current Equity-to-Asset is 0.07 as of Dec. 2025. 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 NICO Holdings (MSW:NICO) Overvalued in 2026?
Based on GuruFocus' analysis, NICO Holdings stock appears to be overvalued.
The current stock price of MWK1,344.87 is trading 5.5% above its estimated GF Value™ of MWK1,274.42.
GuruFocus considers NICO Holdings to be Fairly Valued.
Key valuation signals for MSW:NICO:
Equity-to-Asset: 0.07 (17% above median its 10-year median of 0.06)
GF Value™: MWK1,274.42 vs. price of MWK1,344.87 (5.5% above fair value)
Industry Position: 73.1% below the Insurance median (#425 of 505)
No single metric tells the full story. See the MSW:NICO stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
NICO Holdings PLC is a Malawi-based financial service company that operates in diversified business. Its segments include Life Insurance and Pension, General Insurance business, Banking business, Investment Holding, Asset Management, and Information Technology. Its general insurance segment offers personal and commercial insurance covering motor vehicle, building, road construction, liability, engineering, professional indemnity, marine hull & cargo, fire, and personal accidents throughout Malawi, Zambia, Tanzania, and Uganda. In contrast, life insurance and pension products including Endowment Assurance are offered in Malawi and Mozambique. The majority of the revenue is earned from the Insurance sector. while its Asset Management and Banking segments only operate in Malawi.
79GF Score
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