NODK (NI Holdings) ROE % Adjusted to Book Value: 19.25% (As of Mar. 2026)

NI Holdings NODK +1.71% 67 ROE % Adjusted to Book Value is 19.25% as of Mar. 2026. GuruFocus rates NODK with a GF Score™ of 67/100 and a GF Value™ of $14.13 (Modestly Overvalued). The stock has 4 warning signs investors should review.

NI Holdings's ROE % for the quarter that ended in Mar. 2026 was 20.40%. NI Holdings's PB Ratio for the quarter that ended in Mar. 2026 was 1.06. NI Holdings's ROE % Adjusted to Book Value for the quarter that ended in Mar. 2026 was 19.25%.

NI Holdings ROE % Adjusted to Book Value Related Terms

NI Holdings ROE % Adjusted to Book Value Historical Data

* Premium members only.

The historical data trend for NI Holdings's ROE % Adjusted to Book Value 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.

NI Holdings ROE % Adjusted to Book Value Chart

NI Holdings Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

ROE % Adjusted to Book Value

Get a 7-Day Free Trial

2.09

-16.10

-2.04

-1.85

-3.76

NI Holdings Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
ROE % Adjusted to Book Value	Get a 7-Day Free Trial															8.93	-17.95	-2.38	-4.58	19.25

NODK vs GBLI, AII, KINS: ROE % Adjusted to Book Value Comparison

For the Insurance - Property & Casualty subindustry, NI Holdings's ROE % Adjusted to Book Value, along with its competitors' market caps and ROE % Adjusted to Book Value 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 ROE % Adjusted to Book Value vs Insurance Industry

For the Insurance industry and Financial Services sector, NI Holdings's ROE % Adjusted to Book Value distribution charts can be found below:

* The bar in red indicates where NI Holdings's ROE % Adjusted to Book Value falls into.

Save Embed

67GF Score

NI Holdings Inc NODK

ROE % Adjusted to Book Value is just one metric. See GF Score™, valuation, warning signs, and more.

View Full Analysis

NI Holdings ROE % Adjusted to Book Value Calculation

NI Holdings's ROE % Adjusted to Book Value for the fiscal year that ended in Dec. 2025 is calculated as

ROE % Adjusted to Book Value	=	ROE %	/	PB Ratio
	=	-4.29%	/	1.14
	=	-3.76%

NI Holdings's ROE % Adjusted to Book Value for the quarter that ended in Mar. 2026 is calculated as

ROE % Adjusted to Book Value	=	ROE %	/	PB Ratio
	=	20.40%	/	1.06
	=	19.25%

Frequently Asked Questions Learn more about ROE % Adjusted to Book Value →

What does a ROE % Adjusted to Book Value of 19.25% mean?

NI Holdings (NODK) has a ROE % Adjusted to Book Value of 19.25% as of Mar. 2026. Return on equity adjusted to book is the ratio of return on equity to price-book ratio. View historical data on NI Holdings and its competitors.

Is NI Holdings' ROE % Adjusted to Book Value too high?

NI Holdings' current ROE % Adjusted to Book Value is 19.25%. 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' ROE % Adjusted to Book Value compare to GBLI and AII?

NI Holdings' ROE % Adjusted to Book Value of 19.25% 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 ROE % Adjusted to Book Value for an Insurance company?

A good ROE % Adjusted to Book Value depends on the Insurance industry context. However, ROE % Adjusted to Book Value 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 ROE % Adjusted to Book Value mean?

A high ROE % Adjusted to Book Value can signal that a stock is expensive relative to its fundamentals. Return on equity adjusted to book is the ratio of return on equity to price-book ratio. View historical data on NI Holdings and its competitors. NI Holdings's current ROE % Adjusted to Book Value is 19.25%. 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 $14.13, compared to a current price of $16.04 — trading 13.5% above its estimated fair value. The current ROE % Adjusted to Book Value is 19.25%. 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 ROE % Adjusted to Book Value calculated?

ROE % Adjusted to Book Value is calculated from a company's financial statements. For NI Holdings (NODK), the current ROE % Adjusted to Book Value is 19.25% 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 $16.04 is trading 13.5% above its estimated GF Value™ of $14.13. GuruFocus considers NI Holdings to be Modestly Overvalued.

Key valuation signals for NODK:

ROE % Adjusted to Book Value: 19.25%
GF Value™: $14.13 vs. price of $16.04 (13.5% above fair value)
GF Score™: 67/100 with 4 warning signs

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 Business Description

Industry Financial Services Insurance

Comparable Companies GBLI AII KINS ACIC FIGP PRHI HIPO DGICA HRTG ROOT CB PGR TSE:8766 TRV ALL HKSE:01339 HKSE:02328 TSE:8725 TSX:IFC TSX:FFH

Address 1101 First Avenue North, Fargo, ND, USA, 58102

Website https://www.niholdingsinc.com

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

Get the complete analysis for NODK

ROE % Adjusted to Book Value is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$16.04

Price

$14.13

GF Value

View NODK Analysis

See ROE % Adjusted to Book Value data for all stocks →