NMI Holdings, Inc.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $706.4M | $651.0M | $579.0M | $523.3M | $485.1M | $433.3M | $378.8M | $275.0M |
| Cost of Revenue | — | — | — | — | — | — | — | — |
| Gross Profit | — | — | — | — | — | — | — | — |
| Gross Margin | — | — | — | — | — | — | — | — |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | — | — | — | — | — | — | — | — |
| Operating Income | $499.8M | $463.4M | $444.9M | $409.5M | $328.5M | $242.5M | $228.7M | $150.9M |
| Operating Margin | 70.7% | 71.2% | 76.8% | 78.2% | 67.7% | 56.0% | 60.4% | 54.9% |
| Interest Expense | — | — | $32.2M | $32.2M | $31.8M | $24.4M | $12.1M | $15.0M |
| Pretax Income | $499.8M | $463.4M | $412.7M | $377.3M | $296.7M | $218.1M | $216.7M | $136.0M |
| Income Tax Expense | $110.9M | $103.3M | $90.6M | $84.4M | $65.6M | $46.5M | $44.7M | $28.0M |
| Net Income | $388.9M | $360.1M | $322.1M | $292.9M | $231.1M | $171.6M | $172.0M | $107.9M |
| Net Margin | 55.1% | 55.3% | 55.6% | 56.0% | 47.6% | 39.6% | 45.4% | 39.2% |
| EPS (Basic) | $5.01 | $4.51 | $3.91 | $3.45 | $2.70 | $2.20 | $2.54 | $1.66 |
| EPS (Diluted) | $4.92 | $4.43 | $3.84 | $3.39 | $2.65 | $2.13 | $2.47 | $1.60 |
| Shares Outstanding (Basic) | 77.6M | 79.8M | 82.4M | 84.9M | 85.6M | 78.0M | 67.6M | 65.0M |
| Shares Outstanding (Diluted) | 79.0M | 81.3M | 83.9M | 86.0M | 86.9M | 79.3M | 69.7M | 67.7M |
| Dividends Per Share | — | — | — | — | — | — | — | — |