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NI Holdings NODK Debt-to-equity

Debt-to-equity at other companies

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ProgressivePGR
0.3×0.0×
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ChubbCB
0.3×0.0×
Allstate logo
AllstateALL
0.2×-0.1×
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The Hanover Insurance GroupTHG
0.2×0.0×
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Safety Insurance GroupSAFT
0.1×0.0×
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Universal Insurance HoldingsUVE
0.2×-0.1×

Other financials

Income statement

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Revenue$59.6M-16.6%
Gross profit$15.7M-13.5%
Net income$12.5M+93.6%
EPS (diluted)$0.60+93.5%

Balance sheet

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Cash & equivalents$57.7M+0.9%
Total debt$1.4M-67.2%
Total equity$243.8M+1.0%
Total assets$492.1M-6.3%

Cash flow

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Operating cash flow-$1.9M-119%
CapEx$42.0K+110%
Free cash flow-$1.9M-119%

Valuation

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Market cap$324.43M+26.1%
P/S1.2×+0.4×

Profitability

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Gross margin30.2%-1.8pp
Net margin-1.6%
FCF margin-2.4%

Returns & leverage

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Return on equity-5%-2.1pp

Where this comes from

Calculated from NI Holdings’s reported figures.

Based on the most recent quarter.

The official record: NI Holdings’s 10-Q, filed November 7, 2025, on SEC EDGAR. View the filing →

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Questions, answered.

What is NI Holdings's debt-to-equity?
NI Holdings (NODK) reported debt-to-equity of 0× in Q3 2025.
How has NI Holdings's debt-to-equity changed year-over-year?
NI Holdings's debt-to-equity decreased by 1.0% year-over-year, from 0× to 0×.
What is the long-term trend for NI Holdings's debt-to-equity?
Over 4 years (2020 to 2024), NI Holdings's debt-to-equity has grown at a 53.7% compound annual growth rate (CAGR), from 0× to 0×.
What does debt-to-equity mean?
Total debt (including capitalized leases and financing obligations) divided by shareholders' equity at the quarter end. Measures how much the company is financed by debt relative to equity.