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NMI HoldingsNMIH +3.46%83 PB Ratio is 1.23 as of Jul. 17, 2026, which is 8% below its 10-year median of 1.33. GuruFocus rates NMIH with a GF Score™ of 83/100 and a GF Value™ of $39.42 (Fairly Valued). The stock has 3 warning signs investors should review. Among 497 Insurance companies, NMI Holdings ranks better than 58.95% on this metric.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. As of today (2026-07-17), NMI Holdings's share price is $42.52. NMI Holdings's Book Value per Share for the quarter that ended in Mar. 2026 was $34.57. Hence, NMI Holdings's PB Ratio of today is 1.23.
The historical rank and industry rank for NMI Holdings's PB Ratio or its related term are showing as below:
NMIH'
s PB Ratio Range Over the Past 10 Years
Min: 0.69 Med: 1.33 Max: 2.68
Current: 1.23
During the past 13 years, NMI Holdings's highest PB Ratio was 2.68. The lowest was 0.69. And the median was 1.33.
NMIH's PB Ratio is ranked better than 58.95% of 497
companies
in the Insurance industry
Industry Median: 1.41
vs NMIH: 1.23
During the past 12 months, NMI Holdings's average Book Value Per Share Growth Rate was 16.60% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 20.70% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 16.20% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 17.40% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of NMI Holdings was 24.10% per year. The lowest was -6.80% per year. And the median was 15.60% per year.
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
NMI Holdings PB Ratio Related Terms
NMI Holdings PB Ratio Historical Data
* Premium members only.
The historical data trend for NMI Holdings's PB Ratio 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.
For the Insurance - Specialty subindustry, NMI Holdings's PB Ratio, along with its competitors' market caps and PB Ratio 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 PB Ratio vs Insurance Industry
For the Insurance industry and Financial Services sector, NMI Holdings's PB Ratio distribution charts can be found below:
* The bar in red indicates where NMI Holdings's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
NMI Holdings's PB Ratio for today is calculated as follows:
* 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.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
NMI Holdings (NMIH) has a PB Ratio of 1.23 as of Jul. 17, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on NMI Holdings and its competitors. This is near median its historical median of 1.33. Over the past decade, NMI Holdings' PB Ratio has ranged from 0.69 to 2.68. According to the industry distribution chart, NMI Holdings ranks #204 out of 497 companies in the Insurance industry, placing it in the top 41%.
Is NMI Holdings' PB Ratio too high?
NMI Holdings' current PB Ratio of 1.23 is near median its 10-year median of 1.33. Over the past 10 years, this metric has ranged from a low of 0.69 to a high of 2.68. The Insurance industry median PB Ratio is 1.41. NMI Holdings' value of 1.23 is 12.8% below this industry median. Based on the distribution chart, NMI Holdings ranks #204 out of 497 companies in the Insurance industry, which is above the industry midpoint. Overall, NMI Holdings has a GF Score™ of 83/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does NMI Holdings' PB Ratio compare to AGO and RDN?
According to the Insurance industry distribution chart, NMI Holdings ranks #204 out of 497 companies for PB Ratio. This puts NMI Holdings in the upper half of its industry. The industry median PB Ratio is 1.41. NMI Holdings' value of 1.23 is 12.8% below this benchmark. Historically, NMI Holdings' own PB Ratio has ranged from 0.69 to 2.68 over the past decade. While the company's 10-year median is 1.33 vs. the industry median of 1.41, NMI 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 PB Ratio for an Insurance company?
The median PB Ratio among Insurance companies is 1.41, based on 497 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. NMI Holdings's current PB Ratio of 1.23 is 12.8% 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 PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on NMI Holdings and its competitors. For the Insurance industry, the median PB Ratio is 1.41 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. NMI Holdings's current PB Ratio is 1.23, which is near median its own 10-year median of 1.33. 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 $39.42, compared to a current price of $42.52 — trading 7.9% above its estimated fair value. The current PB Ratio is 1.23, which is near median its 10-year median of 1.33 and 12.8% below the Insurance industry median of 1.41. NMI Holdings' overall GF Score™ is 83/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For NMI Holdings (NMIH), the current PB Ratio is 1.23 as of Jul. 17, 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 overvalued.
The current stock price of $42.52 is trading 7.9% above its estimated GF Value™ of $39.42.
GuruFocus considers NMI Holdings to be Fairly Valued.
Key valuation signals for NMIH:
PB Ratio: 1.23 (near median its 10-year median of 1.33)
GF Value™: $39.42 vs. price of $42.52 (7.9% above fair value)
Industry Position: 12.8% below the Insurance median (#204 of 497)
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 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.
83GF Score
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