Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $124M | $183M | $275M | $379M | $433M | $485M | $523M | $579M | $651M | $706M |
| Revenue growth | — | 47.6% | 50.5% | 37.7% | 14.4% | 12.0% | 7.9% | 10.6% | 12.4% | 8.5% |
| Net income | $64.0M | $22.1M | $108M | $172M | $172M | $231M | $293M | $322M | $360M | $389M |
| Net margin | 51.7% | 12.1% | 39.2% | 45.4% | 39.6% | 47.6% | 56.0% | 55.6% | 55.3% | 55.1% |
| EPS (diluted) | $1.05 | $0.35 | $1.60 | $2.47 | $2.13 | $2.65 | $3.39 | $3.84 | $4.43 | $4.92 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $71.9M | $67.8M | $146M | $208M | $253M | $326M | $313M | $343M | $394M | $419M |
| Capital expenditures | $11.5M | $8.51M | $8.06M | $9.96M | $12.2M | $12.2M | $10.6M | $9.37M | $6.91M | $6.78M |
| Free cash flow | $60.5M | $59.3M | $138M | $198M | $240M | $313M | $303M | $333M | $387M | $413M |
| Share buybacks | — | — | — | — | $0.00 | $0.00 | $56.6M | $91.6M | $97.6M | $105M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $47.7M | $19.2M | $25.3M | $41.1M | $127M | $76.6M | $44.4M | $96.7M | $54.3M | $43.9M |
| Total assets | $840M | $895M | $1.09B | $1.36B | $2.17B | $2.45B | $2.52B | $2.94B | $3.35B | $3.84B |
| Total liabilities | $364M | $386M | $391M | $434M | $797M | $885M | $902M | $1.01B | $1.13B | $1.25B |
| Long-term debt | $144M | $144M | $147M | $146M | $393M | $395M | $396M | — | — | — |
| Shareholders' equity | $476M | $509M | $702M | $930M | $1.37B | $1.57B | $1.61B | $1.93B | $2.22B | $2.59B |
| Retained earnings | -$96.7M | -$74.2M | $33.5M | $205M | $377M | $608M | $901M | $1.22B | $1.58B | $1.97B |
| Shares (wtd avg diluted) | 60.8M | 62.2M | 67.7M | 69.7M | 79.3M | 86.9M | 86.0M | 83.9M | 81.3M | 79.0M |
Every figure is extracted from NMI Holdings, Inc.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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