NI Holdings, Inc.

NasdaqCM:NODK Stock Report

Market Cap: US$309.9m

NI Holdings Past Earnings Performance

Past criteria checks 4/6

NI Holdings has been growing earnings at an average annual rate of 10.6%, while the Insurance industry saw earnings growing at 14.7% annually. Revenues have been declining at an average rate of 2% per year. NI Holdings's return on equity is 3.1%, and it has net margins of 2.9%.

Key information

10.61%

Earnings growth rate

10.73%

EPS growth rate

Insurance Industry Growth8.02%
Revenue growth rate-1.97%
Return on equity3.14%
Net Margin2.93%
Last Earnings Update30 Jun 2026

Recent past performance updates

Recent updates

Analysis Article • Mar 16

NI Holdings, Inc.'s (NASDAQ:NODK) P/S Is On The Mark

With a median price-to-sales (or "P/S") ratio of close to 1x in the Insurance industry in the United States, you could...
Seeking Alpha • Jul 22

NI expects sees $49M loss in Q2 owing to severe storms in South Dakota and Nebraska

NI (NASDAQ:NODK) expects to see pre-tax catastrophe losses of ~$49M, net of reinsurance, for Q2. Losses were primarily in the Home/Farm and Private Passenger Auto segments driven by multiple severe storms in South Dakota and Nebraska. Michael J. Alexander, President and CEO, stated, “Our companies have consistently provided best-in-class underwriting while also identifying and executing growth opportunities. However, similar to the industry, we cannot predict the frequency or severity of storms across our geographical footprint. While there is still some uncertainty surrounding the number of claims from these events, our primary efforts are to deliver high-quality, prompt and efficient claims service in order to provide a positive experience for both our agents and policyholders.”
Analysis Article • May 19

Increases to CEO Compensation Might Be Put On Hold For Now at NI Holdings, Inc. (NASDAQ:NODK)

Performance at NI Holdings, Inc. ( NASDAQ:NODK ) has been reasonably good and CEO Jim Alexander has done a decent job...
Analysis Article • Mar 12

Could The NI Holdings, Inc. (NASDAQ:NODK) Ownership Structure Tell Us Something Useful?

If you want to know who really controls NI Holdings, Inc. ( NASDAQ:NODK ), then you'll have to look at the makeup of...
Analysis Article • Feb 19

Here's Why We Think NI Holdings (NASDAQ:NODK) Is Well Worth Watching

For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to...
Analysis Article • Feb 01

Did You Miss NI Holdings' (NASDAQ:NODK) 11% Share Price Gain?

On average, over time, stock markets tend to rise higher. This makes investing attractive. But if you choose that path...
Analysis Article • Jan 08

Read This Before Selling NI Holdings, Inc. (NASDAQ:NODK) Shares

It is not uncommon to see companies perform well in the years after insiders buy shares. On the other hand, we'd be...
Analysis Article • Dec 18

Is NI Holdings, Inc.'s(NASDAQ:NODK) Recent Stock Performance Tethered To Its Strong Fundamentals?

NI Holdings' (NASDAQ:NODK) stock is up by a considerable 13% over the past three months. Given the company's impressive...

Revenue & Expenses Breakdown

How NI Holdings makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

NasdaqCM:NODK Revenue, expenses and earnings (USD Millions)
DateRevenueEarningsG+A ExpensesR&D Expenses
30 Jun 26267800
31 Mar 26273-400
31 Dec 25285-1000
30 Sep 25298300
30 Jun 25310200
31 Mar 25322600
31 Dec 24325700
30 Sep 243301600
30 Jun 243191900
31 Mar 243122400
31 Dec 233042000
30 Sep 23319100
30 Jun 23330-900
31 Mar 23325-5300
31 Dec 22268-3800
30 Sep 22316-4800
30 Jun 22312-4300
31 Mar 22319100
31 Dec 21324800
30 Sep 213222400
30 Jun 213193200
31 Mar 213315400
31 Dec 203064000
30 Sep 202943600
30 Jun 202832500
31 Mar 20256900
31 Dec 192712600
30 Sep 192562400
30 Jun 192464100
31 Mar 192303900
31 Dec 182083100
30 Sep 182013000
30 Jun 181981800
31 Mar 181931700
31 Dec 171891600
30 Sep 17173300
30 Jun 17176500
31 Mar 17167300
31 Dec 16164500
30 Sep 161631000
30 Jun 161541800
31 Mar 161481900
31 Dec 151461700

Quality Earnings: NODK has a high level of non-cash earnings.

Growing Profit Margin: NODK's current net profit margins (2.9%) are higher than last year (0.5%).

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: NODK's earnings have grown by 10.6% per year over the past 5 years.

Accelerating Growth: NODK's earnings growth over the past year (404.6%) exceeds its 5-year average (10.6% per year).

Earnings vs Industry: NODK earnings growth over the past year (404.6%) exceeded the Insurance industry 27.3%.

Return on Equity

High ROE: NODK's Return on Equity (3.1%) is considered low.

Return on Assets

Return on Capital Employed

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/09/17 04:27
End of Day Share Price 2026/09/17 00:00
Earnings2026/06/30
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

NI Holdings, Inc. is covered by 0 analysts. 0 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.