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NMI Holdings Inc. NMIH Deferred policy acquisition costs

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Other financials

Income statement

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Revenue$183.5M+5.9%
Net income$99.3M-3.1%
EPS (diluted)$1.280.0%

Balance sheet

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Cash & equivalents$70.7M-4.8%
Total debt$8.5M-17.4%
Total equity$2.6B+13.4%
Total assets$3.9B+13.1%

Cash flow

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Operating cash flow$116.1M+14.8%
CapEx$1.1M-35.5%
Free cash flow$115.0M+15.6%

Valuation

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Market cap$3.36B+10.3%
P/E8.7×+0.6×
P/S4.7×+0.2×

Profitability

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Net margin53.8%-2.1pp
FCF margin59.7%+3.3pp

Returns & leverage

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Return on equity15.6%-1.8pp
Debt / equity0.0×

Where this comes from

Reported directly by NMI Holdings Inc. in its filing.

Tagged under the XBRL concept us-gaap:DeferredPolicyAcquisitionCosts.

The source filing: NMI Holdings Inc.’s 10-Q, filed April 30, 2026.

Filed
Apr 30, 2026, 5:37 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001547903-26-000029
AssetsMarch 31, 2026 / (In Thousands, except for share data)December 31, 2025 / (In Thousands, except for share data)
Cash and cash equivalents70,67943,937
Premiums receivable, net86,86186,259
Accrued investment income29,72627,253
Deferred policy acquisition costs, net64,33064,372
Software and equipment, net20,88721,727
Intangible assets and goodwill3,6343,634
Reinsurance recoverable39,70338,577
Prepaid federal income taxes400,258400,258

Item 1. Financial Statements

FAQ

What is NMI Holdings Inc.'s deferred policy acquisition costs?
NMI Holdings Inc. (NMIH) reported deferred policy acquisition costs of $64.33M in Q1 2026.
How has NMI Holdings Inc.'s deferred policy acquisition costs changed year-over-year?
NMI Holdings Inc.'s deferred policy acquisition costs increased by 0.5% year-over-year, from $64.01M to $64.33M.
What is the long-term trend for NMI Holdings Inc.'s deferred policy acquisition costs?
Over 5 years (2020 to 2025), NMI Holdings Inc.'s deferred policy acquisition costs has grown at a 0.7% compound annual growth rate (CAGR), from $62.23M to $64.37M.
What does deferred policy acquisition costs mean?
These are the incremental costs directly related to the successful acquisition of new insurance contracts, such as commissions and underwriting expenses, which are capitalized and amortized over the life of the policy. This metric is critical for understanding the timing of expense recognition relative to premium revenue. It reflects the company's investment in long-term business growth.

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