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NI Holdings, Inc.

NODK

$15.83 ▲ +0.24 (+1.54%) at close

13 Visible periods

34 Metrics

Peer-ranked Benchmarks

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Health

Poor

Bearish

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Analytical Summary

NI Holdings, Inc. faces fundamental challenges with weakness in Profit Margin (%) and Operating Margin (%). The fundamentals warrant careful consideration of downside risks.

Market Cap $332.3M

Dividend Yield —

Revenue Growth -12.3% ↘

Op. Margin -4.3% ↘

ROIC None

FCF / Share None

Trailing P/E —

Price / Book —

FCF Yield —

Debt / Equity —

info Valuation on last close. End-of-day price, Aug 7, 2026.

13-Year Financial Trajectory

Annual

Metric Value Trend Year over Year Percentile

Revenue Total top-line sales

$285.05M

↓ -12.3% —

Net Income Profit after all expenses

$-10.41M

↓ -71.8% —

Operating Margin Operating profit as % of sales

-4.3%

↓ -238.6% 21th

Long-Term Debt Long-term obligations

$2.40M

— 0.0% —

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Bullish Indicators

No bullish signals detected.

warning

Bearish Risks

Operating Margin (%)Operating Margin (%) is in the bottom quartile
Profit Margin (%)Profit Margin (%) is in the bottom quartile

Health Breakdown

Profitability

Financial view

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📈 Is growth accelerating? 7 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Mar 31, 2017 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗
Revenue Growth YoY (%)	-12.3% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-306%)	-11.1% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-285%)	12.7% Good ↑ Good Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+112%)	0.1% Caution ↓ Caution Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-98%)	5.8% Fair ↓ Fair Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: At sector avg	13.1% Good ↓ Good Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+119%)	27.5% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+358%)	12.3% Good ↑ Good Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+105%)	15.5% Good ↑ Good Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+158%)	11.9% Good Good Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+98%)	6.2% Fair Fair Year-over-year change in total revenue Optimal: > 10% vs Sector: At sector avg	—	—
EPS Growth YoY (%)	-72.4% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	-11.5% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	89.6% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	N/M	-79.0% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	56.3% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	-14.4% Weak Weak Year-over-year change in earnings per share Optimal: > 10%	95.8% Excellent Excellent Year-over-year change in earnings per share Optimal: > 10%	—	—	—	—	—
Net Income Growth YoY (%)	-71.8% Weak ↓ Weak Declining Year-over-year change in net income	-10.7% Weak ↓ Weak Declining Year-over-year change in net income	89.7% Excellent ↑ Excellent Improving Year-over-year change in net income	N/M	-79.2% Weak ↓ Weak Declining Year-over-year change in net income	53.0% Excellent ↓ Excellent Declining Year-over-year change in net income	-15.1% Weak ↓ Weak Declining Year-over-year change in net income	94.4% Excellent ↑ Excellent Improving Year-over-year change in net income	251.4% Excellent ↑ Excellent Improving Year-over-year change in net income	-73.9% Weak Weak Year-over-year change in net income	26.7% Excellent Excellent Year-over-year change in net income	—	—
FCF Growth YoY (%) N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Revenue CAGR 3Y (%)	-4.2% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	0.1% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	6.1% Fair ↓ Fair Declining Compound annual revenue growth over 3 years	6.2% Fair ↓ Fair Declining Compound annual revenue growth over 3 years	15.1% Excellent ↓ Excellent Declining Compound annual revenue growth over 3 years	17.4% Excellent ↑ Excellent Improving Compound annual revenue growth over 3 years	18.3% Excellent ↑ Excellent Improving Compound annual revenue growth over 3 years	13.2% Good Good Compound annual revenue growth over 3 years	11.1% Good Good Compound annual revenue growth over 3 years	—	—	—	—
Revenue CAGR 5Y (%)	-1.4% Weak ↓ Weak Declining Compound annual revenue growth over 5 years	3.7% Caution ↓ Caution Declining Compound annual revenue growth over 5 years	11.5% Good ↓ Good Declining Compound annual revenue growth over 5 years	11.4% Good ↓ Good Declining Compound annual revenue growth over 5 years	14.6% Excellent → Excellent Stable Compound annual revenue growth over 5 years	15.9% Excellent Excellent Compound annual revenue growth over 5 years	14.5% Excellent Excellent Compound annual revenue growth over 5 years	—	—	—	—	—	—
EPS CAGR 3Y (%)	—	—	—	—	-34.5% Weak Weak Compound annual EPS growth over 3 years	37.9% Excellent Excellent Compound annual EPS growth over 3 years	—	—	—	—	—	—	—

💰 Are margins durable? 5 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Mar 31, 2017 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗
Operating Margin (%) (%)	-4.3% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-117%)	3.1% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-88%)	-1.2% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-105%)	-21.3% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-185%)	3.5% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-86%)	17.2% Fair ↑ Fair Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-31%)	12.5% Fair ↑ Fair Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-50%)	18.4% Good ↑ Good Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-26%)	11.6% Caution → Caution Stable Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-53%)	3.7% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-85%)	17.7% Fair Fair Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-29%)	14.7% Fair Fair Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-41%)	—
Effective Tax Rate (%) (%)	15.5% Good ↑ Good Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	34.9% Weak ↑ Weak Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-22.6% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	22.1% Fair → Fair Stable Actual taxes paid relative to pre-tax income Optimal: 15-25%	26.3% Caution ↑ Caution Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	21.7% Fair ↓ Fair Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	21.6% Fair ↓ Fair Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	20.2% Good ↓ Good Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	29.1% Caution → Caution Stable Actual taxes paid relative to pre-tax income Optimal: 15-25%	24.2% Fair ↓ Fair Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	32.0% Weak Weak Actual taxes paid relative to pre-tax income Optimal: 15-25%	31.7% Weak Weak Actual taxes paid relative to pre-tax income Optimal: 15-25%	—
Profit Margin (%) (%)	-3.7% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-117%)	-1.9% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-108%)	-1.5% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-107%)	-16.4% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-174%)	2.6% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-88%)	13.2% Fair ↑ Fair Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-40%)	9.8% Caution ↑ Caution Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-56%)	14.6% Fair ↑ Fair Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-33%)	8.5% Caution → Caution Stable Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-62%)	2.8% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-87%)	11.9% Fair Fair Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-46%)	10.0% Caution Caution Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-55%)	—
FCF Margin (%) (%) N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
FCF / Net Income (x) N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

🎯 Is capital allocation efficient? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Mar 31, 2017 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗
Return on Invested Capital (%) N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Capital (%) (%)	-2.1% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-1.2% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-0.8% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-8.6% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	1.3% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	6.5% Caution ↑ Caution Improving Operating profit relative to total assets Optimal: > 10%	5.2% Caution ↓ Caution Declining Operating profit relative to total assets Optimal: > 10%	6.8% Caution ↑ Caution Improving Operating profit relative to total assets Optimal: > 10%	4.2% Caution Caution Operating profit relative to total assets Optimal: > 10%	—	6.7% Caution Caution Operating profit relative to total assets Optimal: > 10%	—	—
Return on Common Equity (%) (%)	—	—	—	—	—	—	8.5% Caution ↑ Caution Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-29%)	11.3% Fair ↑ Fair Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-6%)	6.3% Caution ↓ Caution Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-48%)	3.0% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-75%)	11.6% Fair Fair Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: At sector avg	10.2% Fair Fair Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-15%)	—

⚖️ Is the balance sheet risky? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Mar 31, 2017 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗
Debt to Equity (x)	—	—	—	—	—	—	—	—	—	0.02x Excellent Excellent Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-99%)	—	—	—
Interest Coverage (x) N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Debt (USD) N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt / EBITDA (x) N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

📊 What does each share earn? 6 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Mar 31, 2017 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗
Revenue per Share (USD)	$13.58	$15.51	$17.28	$15.21	$15.12	$14.07	$12.21	$9.50	$8.40	—	—	—	—
Basic EPS, GAAP (USD)	$-0.50	$-0.29	$-0.26	$-2.49	$0.39	$1.86	$1.19	$1.39	$0.71	—	—	—	—
Free Cash Flow per Share (USD) N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Book Value per Share (USD)	—	—	—	—	—	—	$14.01	$12.43	$11.44	—	—	—	—
Tangible Book Value per Share (USD)	—	—	—	—	—	—	$13.87	$12.22	$11.32	—	—	—	—
Basic Weighted Avg Shares (shares)	20.99M	20.97M	21.16M	21.33M	21.42M	21.77M	22.18M	22.36M	22.51M	—	—	—	—

🏦 How resilient is the balance sheet? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Mar 31, 2017 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗
Working Capital (USD) N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
LT Debt (USD)	$2.40M	$2.40M	$2.40M	—	—	—	—	—	—	$2.40M	—	—	—
Total Equity (USD)	—	—	—	—	—	—	$309.80M	$275.75M	$255.57M	$153.42M	$149.92M	$135.69M	$118.92M

📋 What is driving earnings? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Mar 31, 2017 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗
Sales/Revenue/Turnover (USD)	$285.05M	$325.20M	$365.69M	$324.44M	$323.97M	$306.36M	$270.78M	$212.37M	$189.14M	$163.75M	$146.33M	$137.77M	—
Depreciation Expense (USD)	$694.00K	$681.00K	$826.00K	$708.00K	$694.00K	$709.00K	$538.00K	$492.00K	$500.00K	$441.00K	$523.00K	$491.00K	—
Net Income, GAAP (USD)	$-10.41M	$-6.06M	$-5.48M	$-53.10M	$8.42M	$40.39M	$26.40M	$31.08M	$15.99M	$4.55M	$17.46M	$13.77M	—
Operating Cash Flow (USD)	$-15.27M	$38.51M	$25.97M	$-30.39M	$29.17M	$51.01M	$25.66M	$20.95M	$18.43M	$7.31M	$17.18M	$10.41M	—

🏛️ Sector-Specific 2 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Mar 31, 2017 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗
Premiums Earned (USD)	$270.65M	$310.11M	$351.14M	$328.29M	$299.59M	$283.66M	$246.44M	$195.72M	$179.46M	$152.76M	$139.47M	$131.95M	—
Loss Ratio (%) (%)	74.2%	66.9%	69.6%	89.7%	72.2%	59.4%	68.9%	60.8%	68.4%	77.6%	60.1%	67.7%	—

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bar_chart Data from SEC EDGAR XBRL filings

Synced 1 week ago 13 years · 44 quarters

NI Holdings, Inc.

Analytical Summary

13-Year Financial Trajectory

Bullish Indicators

Bearish Risks

Health Breakdown

Statement lens

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