Filing Flows › NMI Holdings (NMIH) › How it makes money
How NMI Holdings (NMIH) makes money
NMI Holdings (NMIH) made $188M of revenue in the third quarter 2026 (Q3 2026), +5% from a year earlier. Of every dollar of revenue, 64¢ was left as operating profit, 50¢ was left as net earnings.
Drawing the Sankey…
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $188M | 100.0% |
| Operating profit | $120M | 64.1% |
| Income tax | $26.8M | 14.3% |
| Net earnings | $93.5M | 49.8% |
| Operating cash flow | $111M | 59.2% |
| Free cash flow | $109M | 58.1% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $188M | +5% |
| Q2 2026 | $188M | +8% |
| Q1 2026 | $183M | +6% |
| Q4 2025 | $181M | +8% |
| Q3 2025 | $179M | +8% |
| Q2 2025 | $174M | +7% |
| Q1 2025 | $173M | +11% |
From NMI Holdings' 10-Q filed Nov 6, 2026 (on EDGAR).
Questions
How does NMI Holdings make money?
NMI Holdings (NMIH) made $188M of revenue in the third quarter 2026 (Q3 2026), +5% from a year earlier. Of every dollar of revenue, 64¢ was left as operating profit, 50¢ was left as net earnings.
What is NMI Holdings' profit margin?
Net earnings were $93.5M, 49.8% of revenue, in the third quarter 2026; the operating margin was 64.1%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.