The earnings call highlighted strong financial performance with record-breaking revenue, high NIW volume, and recognition as a Great Place to Work. Despite these positives, there are ongoing macro risks and the impact of the MI tax deduction may be limited due to the number of filers who itemize. Overall, the strong performance metrics and achievements outweigh the challenges mentioned.

Company Guidance -

Q3 2025

During the second quarter of 2025, National MI delivered strong financial performance with $12.5 billion in new insurance written (NIW) and a record $214.7 billion in primary insurance in force. The company reported total revenue of $173.8 million, adjusted net income of $96.5 million, and an adjusted return on equity of 16.3%. National MI's persistency rate was 84.1%, while net premiums earned reached $149.1 million. The core yield stood at 34.2 basis points, and the company achieved an expense ratio of 19.8%. With total cash and investments of $3 billion, including $169 million at the holding company, National MI maintained a robust balance sheet. Shareholders’ equity was reported at $2.4 billion, with a book value per share of $31.14. During the quarter, 628,000 shares were repurchased at an average price of $36.90, leaving $281 million of repurchase capacity. Despite macroeconomic risks, the company remains optimistic about its disciplined approach to pricing, risk selection, and reinsurance, as well as the ongoing market opportunities.

Record-Breaking Revenue

Total revenue in the second quarter was a record $173.8 million, up from $173.2 million in the first quarter and $162.1 million in the second quarter of 2024.

Strong New Insurance Written (NIW) Volume

Generated $12.5 billion of NIW volume and ended the period with a record $214.7 billion of high-quality, high-performing primary insurance in force.

Recognized as a Great Place to Work

National MI was recognized as a Great Place To Work for the tenth consecutive year, earning a Decade of Great distinction.

Improved Expense Ratio

The expense ratio was a record low 19.8% in the quarter, highlighting significant operating leverage and cost management success.

High Persistency Rate

12-month persistency remained high at 84.1%, slightly down from 84.3% in the first quarter but above historical trends.

Strong Investment Income

Investment income in the second quarter was $24.9 million, up from $23.7 million in the first quarter and $20.7 million in the second quarter of 2024.

NMI Holdings (NMIH) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

NMIH Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 04, 2025	2025 (Q3)	1.21 / -	1.15	―	―	―
Jul 29, 2025	2025 (Q2)	1.20 / 1.22	1.2	1.67% (+0.02)	―
Apr 29, 2025	2025 (Q1)	1.10 / 1.28	1.08	18.52% (+0.20)	―
Feb 06, 2025	2024 (Q4)	1.12 / 1.07	1.01	5.94% (+0.06)	―
Nov 06, 2024	2024 (Q3)	1.13 / 1.15	1	15.00% (+0.15)	―
Jul 30, 2024	2024 (Q2)	1.05 / 1.20	0.95	26.32% (+0.25)	―
Apr 30, 2024	2024 (Q1)	0.98 / 1.08	0.88	22.73% (+0.20)	―
Feb 14, 2024	2023 (Q4)	0.96 / 1.01	0.86	17.44% (+0.15)	―
Nov 01, 2023	2023 (Q3)	0.92 / 1.00	0.9	11.11% (+0.10)	―
Aug 01, 2023	2023 (Q2)	0.85 / 0.95	0.86	10.47% (+0.09)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

NMIH Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 29, 2025	$37.96	$37.37	-1.55%
Apr 29, 2025	$33.64	$36.17	+7.52%
Feb 06, 2025	$38.80	$36.95	-4.77%
Nov 06, 2024	$39.28	$37.25	-5.17%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does NMI Holdings (NMIH) report earnings?

NMI Holdings (NMIH) is schdueled to report earning on Nov 04, 2025, After Close (Confirmed).

What is NMI Holdings (NMIH) earnings time?

NMI Holdings (NMIH) earnings time is at Nov 04, 2025, After Close (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is NMIH EPS forecast?

NMIH EPS forecast for the fiscal quarter 2025 (Q3) is 1.21.

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