NI HoldingsNODK -0.38%67 Return-on-Tangible-Equity is 20.40% as of Mar. 2026, which is 613% above its 10-year median of 2.86. GuruFocus rates NODK with a GF Score™ of 67/100 and a GF Value™ of $14.12 (Modestly Overvalued). The stock has 4 warning signs investors should review. Among 498 Insurance companies, NI Holdings ranks worse than 92.97% on this metric.
Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. NI Holdings's annualized net income for the quarter that ended in Mar. 2026 was $50.0 Mil. NI Holdings's average shareholder tangible equity for the quarter that ended in Mar. 2026 was $245.3 Mil. Therefore, NI Holdings's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 20.40%.
The historical rank and industry rank for NI Holdings's Return-on-Tangible-Equity or its related term are showing as below:
NODK'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -18.99 Med: 2.86 Max: 12.83
Current: -1.77
During the past 12 years, NI Holdings's highest Return-on-Tangible-Equity was 12.83%. The lowest was -18.99%. And the median was 2.86%.
NODK's Return-on-Tangible-Equity is ranked worse than 92.97% of 498
companies
in the Insurance industry
Industry Median: 13.53
vs NODK: -1.77
NI Holdings (NAS:NODK) Return-on-Tangible-Equity Explanation
Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.
Be Aware
Net Income is used.
Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.
NI Holdings Return-on-Tangible-Equity Related Terms
NI Holdings Return-on-Tangible-Equity Historical Data
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The historical data trend for NI Holdings's Return-on-Tangible-Equity 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.
NODK vs GBLI, AII, KINS: Return-on-Tangible-Equity Comparison
For the Insurance - Property & Casualty subindustry, NI Holdings's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity 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.
NI Holdings Return-on-Tangible-Equity vs Insurance Industry
For the Insurance industry and Financial Services sector, NI Holdings's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where NI Holdings's Return-on-Tangible-Equity falls into.
* 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.
In the calculation of annual Return-on-Tangible-Equity, the net income of the last fiscal year and the average total shareholder tangible equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is four times the quarterly (Mar. 2026) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of 20.40% mean?
NI Holdings (NODK) has a Return-on-Tangible-Equity of 20.40% as of Mar. 2026. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on NI Holdings and its competitors. This is 613% above median its historical median of 2.86. According to the industry distribution chart, NI Holdings ranks #463 out of 498 companies in the Insurance industry, placing it in the top 93%.
Is NI Holdings' Return-on-Tangible-Equity too high?
NI Holdings' current Return-on-Tangible-Equity of 20.40% is 613% above median its 10-year median of 2.86. The Insurance industry median Return-on-Tangible-Equity is 13.53. NI Holdings' value of 20.40% is 50.8% above this industry median. Based on the distribution chart, NI Holdings ranks #463 out of 498 companies in the Insurance industry, which is in the bottom quartile relative to peers. Overall, NI Holdings has a GF Score™ of 67/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does NI Holdings' Return-on-Tangible-Equity compare to GBLI and AII?
According to the Insurance industry distribution chart, NI Holdings ranks #463 out of 498 companies for Return-on-Tangible-Equity. This places NI Holdings in the lower half of its industry. The industry median Return-on-Tangible-Equity is 13.53. NI Holdings' value of 20.40% is 50.8% above this benchmark. While the company's 10-year median is 2.86 vs. the industry median of 13.53, NI Holdings has consistently been above 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 Return-on-Tangible-Equity for an Insurance company?
The median Return-on-Tangible-Equity among Insurance companies is 13.53, based on 498 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Equity significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. NI Holdings's current Return-on-Tangible-Equity of 20.40% is 50.8% above 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 Return-on-Tangible-Equity mean?
A high Return-on-Tangible-Equity can signal that a stock is expensive relative to its fundamentals. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on NI Holdings and its competitors. For the Insurance industry, the median Return-on-Tangible-Equity is 13.53 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. NI Holdings's current Return-on-Tangible-Equity is 20.40%, which is 613% above median its own 10-year median of 2.86. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is NI Holdings stock overvalued right now?
Based on GuruFocus' analysis, NI Holdings (NODK) is currently considered Modestly Overvalued. The stock's GF Value™ is $14.12, compared to a current price of $15.77 — trading 11.7% above its estimated fair value. The current Return-on-Tangible-Equity is 20.40%, which is 613% above median its 10-year median of 2.86 and 50.8% above the Insurance industry median of 13.53. NI Holdings' overall GF Score™ is 67/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Equity calculated?
Return-on-Tangible-Equity is calculated from a company's financial statements. For NI Holdings (NODK), the current Return-on-Tangible-Equity is 20.40% 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 NI Holdings (NODK) Overvalued in 2026?
Based on GuruFocus' analysis, NI Holdings stock appears to be overvalued.
The current stock price of $15.77 is trading 11.7% above its estimated GF Value™ of $14.12.
GuruFocus considers NI Holdings to be Modestly Overvalued.
Key valuation signals for NODK:
Return-on-Tangible-Equity: 20.40% (613% above median its 10-year median of 2.86)
GF Value™: $14.12 vs. price of $15.77 (11.7% above fair value)
Industry Position: 50.8% above the Insurance median (#463 of 498)
No single metric tells the full story. See the NODK stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
NI Holdings Inc is a stockholding company. Through its subsidiaries, the company operates in the insurance industry, offering homeowners and farmowners insurance policies, crop insurance policies, home insurance policies, etc. These insurance products are distributed through a network of exclusive and independent agents across the United States. The group's reportable segments are: Private Passenger Auto, Non-Standard Auto, Home and Farm, Crop, and All Other (which mainly consists of commercial, assumed reinsurance, and its excess liability business). Maximum revenue is generated from the Home and Farm segment.
67GF Score
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