NMI Holdings, Inc. (NMIH) FY2025 10-K Annual Report

Filed: Feb 12, 2026
Financials
Surety InsuranceSEC EDGAR

NMI Holdings, Inc. (NMIH) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 12, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.

NMI Holdings, Inc. FY2025 10-K Analysis

Business Overview

  • Core business: Private mortgage insurance provider focused on managing risk and capital in residential mortgage market
  • Regulatory focus: Increased emphasis on CFPB RESPA enforcement risk and impact of ATR/QM rule changes on mortgage origination market size
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Risk Factors

  • Regulatory risk: Wisconsin Office of the Commissioner of Insurance (OCI) primary regulator for NMIC, impacting licensing and insurance operations
  • Macroeconomic risk: Persistent inflation and elevated interest rates could reduce new insurance written (NIW) volume, increasing default claims
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NMI Holdings, Inc. FY2025 Key Financial Metrics
XBRL

Revenue

$706M

+8.5% YoY

Net Income

$389M

+8.0% YoY

Net Margin

55.1%

-26bp YoY

ROE

15.0%

-123bp YoY

Total Assets

$3.8B

+14.7% YoY

EPS (Diluted)

$4.92

+11.1% YoY

Operating Cash Flow

$419M

+6.5% YoY

Source: XBRL data from NMI Holdings, Inc. FY2025 10-K filing on SEC EDGAR. All figures in USD.

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