NI Holdings, Inc.
NASDAQ•NODK
CEO: Mr. Seth Christopher Daggett C.P.A.
Sector: Financial Services
Industry: Insurance - Property & Casualty
Listing Date: 2017-03-16
NI Holdings, Inc. underwrites property and casualty insurance products in the United States. Its 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. operates as a subsidiary of Nodak Mutual Group, Inc.
Contact Information
Market Cap
$271.38M
P/E (TTM)
-26.0
11.6
Dividend Yield
--
52W High
$14.70
52W Low
$12.01
52W Range
Rank25Top 11.9%
5.6
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Average • 5.6 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2025
Financial Dashboard
Q4 2025 Data
Revenue
-$224.06M+0.00%
4-Quarter Trend
EPS
-$0.15+0.00%
4-Quarter Trend
FCF
$17.88M+0.00%
4-Quarter Trend
2025 Annual Earnings Highlights
Key Highlights
Net Premiums Declined Net premiums earned fell 12.7% to $270.66M, driven by strategic decisions to exit Non-Standard Auto business.
Profitability Reversed Sharply Consolidated entity reported net loss of ($10.41M) versus $6.60M income in the prior year period.
Underwriting Performance Worsened Combined ratio deteriorated to 109.9% in 2025, reflecting significant underwriting losses across continuing operations.
Business Restructuring Complete Westminster sale closed mid-2024; Battle Creek fully consolidated post-mutual conversion in January 2024.
Risk Factors
Underwriting Profitability Loss Combined ratio exceeding 100% (109.9%) signals sustained underwriting losses requiring immediate corrective pricing actions.
Catastrophe Loss Exposure Severe weather events, especially in North Dakota, materially affect financial condition and increase loss reserves.
Non-Standard Auto Exit Impact Strategic run-off of Non-Standard Auto caused premium decline of 47.5% and higher expense ratios temporarily.
Reinsurance Availability Risk Inability to secure favorable reinsurance coverage increases exposure to underwriting risks and potential material losses.
Outlook
Growth Focus on NDFB Strategy emphasizes continued relationship with NDFB and technology expansion for agency support and quoting efficiency.
Capital Deployment Priorities Excess capital available for profitable growth investment, strategic acquisitions, or shareholder returns via repurchases.
Share Repurchase Availability $4.55M remains available under the August 2025 authorization for common stock repurchases.
Climate Trend Monitoring Actively monitoring long-term climate trends impacting catastrophe modeling, reinsurance costs, and investment valuations.
Peer Comparison
Revenue (TTM)
$344.43M
$255.62M
$201.61M
Gross Margin (Latest Quarter)
130.2%
74.5%
72.5%
Key Metrics
Symbol | Market Cap | P/E (TTM) | ROE (TTM) | Debt to Assets |
|---|---|---|---|---|
| CBAN | $347.27M | 12.9 | 9.0% | 7.2% |
| NEWT | $343.18M | 4.9 | 17.3% | 81.8% |
| WSBF | $325.76M | 11.9 | 7.7% | 18.2% |
Long-Term Trends
Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
N/M
Revenue Volatile
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
75%
Volatile Cash Flow
Deep Research
Next earnings:May 7, 2026
EPS:-
|Revenue:-
Financials
Earnings Calls
Reports
News
Income Statement
Balance Sheet
Cash Flow Statement
Ratios
% Chg.
Income Statement | LTM |
|---|
No Data