Filing Flows › Comparisons › NMIH vs MBI
NMI Holdings vs Mbia: NMIH and MBI compared
NMI Holdings is the larger company: $188M of revenue in its latest quarter (Q3 2026) against $26.0M for Mbia (Q3 2026). Mbia is growing faster (+73% against +5% a year earlier). NMI Holdings is more profitable, with an operating margin of 64.1% against -88.5%.
Where the money goes: NMIH and MBI
NMI Holdings (NMIH) · Q3 2026
NMI Holdings, Q3 2026: revenue $188M (+5% year over year), operating margin 64.1%, net earnings $93.5M, operating cash flow $111M. The chart follows the revenue to costs, profit and cash.
Mbia (MBI) · Q3 2026
Mbia, Q3 2026: revenue $26.0M (+73% year over year), operating margin -88.5%, net loss $23.0M, operating cash flow −$73.0M. The chart follows the revenue to costs, profit and cash.
| NMI Holdings (NMIH) | Mbia (MBI) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $188M | $26.0M |
| Revenue growth, Y/Y | +5% | +73% |
| Operating margin | 64.1% | -88.5% |
| Net earnings | $93.5M | −$23.0M |
| Net margin | 49.8% | -88.5% |
| Operating cash flow | $111M | −$73.0M |
| Free cash flow | $109M | — |
| Market value | $3.0B | — |
| P/E | 7.6× | — |
| Analysts’ mean target | $48.00 | — |
Questions
Which is bigger, NMI Holdings or Mbia?
NMI Holdings is the larger company: $188M of revenue in its latest quarter (Q3 2026) against $26.0M for Mbia (Q3 2026).
Is NMI Holdings or Mbia growing faster?
Mbia is growing faster (+73% against +5% a year earlier).
Which is more profitable, NMI Holdings or Mbia?
NMI Holdings is more profitable, with an operating margin of 64.1% against -88.5%.
More: NMI Holdings earnings · how NMI Holdings makes money · Mbia earnings · how Mbia makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 6, 2026; 10-Q filed Nov 4, 2026). Fiscal quarters can end on different dates. Not investment advice.