Filing Flows › NMI Holdings (NMIH) › Q3 2026 › vs Q3 2025
NMI Holdings (NMIH) Q3 2026 vs Q3 2025 (year over year)
NMI Holdings's revenue rose $8.9M (+5%) from $179M in Q3 2025 to $188M in Q3 2026. Operating margin 64.1% against 69.2% (-5.1 pts).
NMI Holdings, Q3 2026: revenue $188M (+5% year over year), operating margin 64.1%, net earnings $93.5M, operating cash flow $111M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 64.1% | 69.2% | -5.1 pts |
| Net margin | 49.8% | 53.7% | -3.9 pts |
| Free cash flow margin | 58.1% | 70.7% | -12.6 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $188M | $179M | $8.9M | +5% |
| Operating profit | $120M | $124M | −$3.4M | -3% |
| Costs & expenses | $67.2M | $55.0M | $12.2M | +22% |
| Pre-tax earnings | $120M | $124M | −$3.4M | -3% |
| Net earnings | $93.5M | $96.0M | −$2.5M | -3% |
| Income tax | $26.8M | $27.7M | −$851K | -3% |
| Depreciation & amortization | $2.3M | $2.8M | −$515K | -18% |
| Share-based compensation | $5.7M | $4.5M | $1.2M | +27% |
| Working capital & other | $9.4M | $24.7M | −$15.3M | -62% |
| Operating cash flow | $111M | $128M | −$17.1M | -13% |
| Free cash flow (OCF − capex) | $109M | $126M | −$17.4M | -14% |
| Capital expenditures | $2.0M | $1.8M | $250K | +14% |
Questions
How much did NMI Holdings's revenue grow year over year in Q3 2026?
NMI Holdings's revenue rose $8.9M (+5%) from $179M in Q3 2025 to $188M in Q3 2026. Operating margin 64.1% against 69.2% (-5.1 pts).