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May 8, 2026·SEC
Material company update
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Feb 23, 2026·SEC
NI Holdings, Inc.(NODK)Earnings, Financials & Key Ratios
NODK•NASDAQ•Insurance & Managed Care
$15.49
Price updated Jul 7, 2026
SectorFinancial ServicesIndustryProperty & Casualty InsuranceSub-IndustryPersonal auto and homeowners insurers
AboutNI Holdings, Inc. underwrites property and casualty insurance products in the United States. The company's products include private passenger auto, non-standard automobile, homeowners, farm owners, crop hail and multi-peril crop, and liability insurance policies. The company was founded in 1946 and is headquartered in Fargo, North Dakota. NI Holdings, Inc. is a subsidiary of Nodak Mutual Group, Inc.Show more
- Revenue$285M-12.3%
- Combined Ratio104.33%+7.7%
- Net Income-$10M-71.8%
- Return on Equity-4.29%-75.4%
- Medical Cost Ratio70.44%-17.8%
- Operating Margin-4.33%-238.6%
- Net Margin-3.65%-96.0%
- ROA-2.02%-96.6%
- Equity / Assets47.5%+2.2%
NODK Price & Volume
NI Holdings, Inc. (NODK) stock price & volume — 10-year historical chart
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Persistent Underwriting Volatility Strains Capital Base
Investment Thesis • Updated 2026Q1
VerdictNegative
Growth:Contracting
Profitability:Strained
Financial:Adequate
Cash Flow:Mixed
Primary Risk:Weather-driven underwriting volatility
Key Thesis Takeaways
- NI Holdings faces a challenging outlook characterized by a sustained revenue contraction, with top-line growth falling to -16.6% in 2026Q1 as the firm attempts to navigate regional agricultural insurance risks.
- The company's reliance on asset divestments to offset underwriting deficits, such as the $32.5 million net sale of investments in 2025Q4, suggests a reactive liquidity strategy that may struggle to maintain long-term equity stability.
- Investors should monitor whether the recent improvement to a 73.6% combined ratio in 2026Q1 represents a sustainable turnaround or merely a temporary reprieve from the weather-driven loss spikes that previously pushed the combined ratio to 120.1% in 2025Q2.
Verdict Logic
the company's inability to maintain consistent underwriting profitability, highlighted by a 109.1% loss ratio in 2025Q2, suggests structural risks that outweigh the recent, potentially anomalous, 2026Q1 performance.
NODK Growth Metrics
NI Holdings, Inc. (NODK) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years6.94%
5 Years-1.43%
3 Years2.1%
TTM-15.19%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM27.48%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM-180%
Return on Capital
10 Years3.18%
5 Years-0.6%
3 Years1.2%
Last Year-4.71%
NODK Recent Earnings
NI Holdings, Inc. (NODK) EPS & revenue vs analyst estimates — last 4 quarters
Q2 2026Latest
May 8, 2026Metric
Actual
Est
EPS
$0.60
—
Rev
$60M
—
Q2 2026
Mar 6, 2026Metric
Actual
Est
EPS
$0.15
—
Rev
$61M
—
Q4 2025
Nov 7, 2025Metric
Actual
Est
EPS
$0.08
—
Rev
$77M
—
Q3 2025
Aug 8, 2025Metric
Actual
Est
EPS
$0.57
—
Rev
$76M
—
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 8, 2026 | $0.60 | $60M |
| Q2 2026 | Mar 6, 2026 | $0.15 | $61M |
| Q4 2025 | Nov 7, 2025 | $0.08 | $77M |
| Q3 2025 | Aug 8, 2025 | $0.57 | $76M |
Based on last 12 quarters of dataView full earnings history →
Peers Comparison
Key metrics vs top competitors for NI Holdings, Inc. (NODK)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $15.49 | $317.26M | -30.98 | -12.35% | -3.65% | -4.29% | — | |
| $102.85 | $35.93B | 8.85 | 14.27% | 24.73% | 20.48% | — | |
| $145.29 | $3.85B | 20.26 | 58.16% | 20.15% | 21.74% | — | |
| $27.20 | $825.52M | 4.30 | 3.71% | 25.99% | 43.68% | — | |
| $19.24 | $705.12M | 8.83 | -1.17% | 6.77% | 10.41% | — | |
| $256.37 | $11.84B | 24.14 | 7.17% | 13.2% | 25.03% | — |
Compare NODK vs Peers
NI Holdings, Inc. (NODK) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
NODK SEC Filings & Documents
NI Holdings, Inc. (NODK) SEC filings — annual & quarterly reports (10-K, 10-Q)
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NODK Frequently Asked Questions
NI Holdings, Inc. (NODK) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
How fast is NI Holdings, Inc. growing?
NI Holdings, Inc. (NODK) saw revenue decline by 12.3% over the past year.
Is NODK profitable?
NI Holdings, Inc. (NODK) reported a net loss of $4.4M for fiscal year 2025.
Dividend & Returns
What is NODK's return on equity?
NI Holdings, Inc. (NODK) has a return on equity (ROE) of -4.3%. Negative ROE indicates the company is unprofitable.
Industry Metrics
What is NI Holdings, Inc.'s combined ratio?
NI Holdings, Inc. (NODK) has a combined ratio of 104.3%. A ratio above 100% means claims and expenses exceed premiums.