NMI Holdings Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Investments in Debt Securities	2,898	2,641	2,347	1,925	2,075	1,850
Other Investments	118.06	82.62	23.81	174.08	11.02	0.37
Total Investments	3,016	2,724	2,371	2,099	2,086	1,851
Cash & Equivalents	130.44	54.22	95.35	42.25	73.48	121.38
Reinsurance Recoverable	35.32	32.26	27.51	21.59	20.32	17.61
Other Receivables	111.52	105.19	96.24	83.82	72.26	59.64
Deferred Policy Acquisition Cost	64.19	64.33	62.91	58.56	59.58	62.23
Property, Plant & Equipment	22.76	33.88	39.35	42.33	34.65	34.27
Goodwill	-	3.24	3.24	3.24	3.24	3.24
Other Intangible Assets	3.63	0.39	0.39	0.39	0.39	0.39
Restricted Cash	-	0.09	1.34	2.18	3.17	5.56
Other Current Assets	322.18	322.18	235.29	154.41	89.24	9.48
Long-Term Deferred Charges	1.9	2.3	0.8	1.2	-	-
Other Long-Term Assets	19.69	8.36	7.07	6.67	8.32	2.19
Total Assets	3,727	3,350	2,941	2,516	2,451	2,167
Accounts Payable	90.11	87.56	83.69	72.08	69.5	61.72
Accrued Expenses	3.3	15.6	2.5	2.5	2.5	-
Unpaid Claims	180.35	152.07	123.97	99.84	103.55	90.57
Unearned Premiums	49.8	65.22	92.3	123.04	139.24	118.82
Reinsurance Payable	-	-	-	2.67	5.6	8.65
Current Portion of Leases	-	2.37	-	-	-	-
Long-Term Debt	416.55	415.15	397.6	396.05	394.62	393.3
Long-Term Leases	8.96	7.89	11.4	12.1	2.9	5.3
Long-Term Deferred Tax Liabilities	463.26	386.19	301.57	193.86	164.18	112.59
Other Long-Term Liabilities	-	0.49	1.48	0.17	2.71	6.14
Total Liabilities	1,212	1,133	1,015	902.3	884.8	797.08
Common Stock	0.88	0.88	0.87	0.87	0.86	0.85
Additional Paid-In Capital	1,011	1,005	990.82	972.72	955.3	937.87
Retained Earnings	1,878	1,583	1,223	901.04	608.14	377.01
Treasury Stock	-320.88	-246.59	-148.92	-56.58	-	-
Comprehensive Income & Other	-53.65	-124.8	-139.92	-204.32	1.49	53.86
Shareholders' Equity	2,515	2,217	1,926	1,614	1,566	1,370
Total Liabilities & Equity	3,727	3,350	2,941	2,516	2,451	2,167
Filing Date Shares Outstanding	76.87	78.45	80.88	83.66	85.84	85.3
Total Common Shares Outstanding	77.1	78.6	80.88	83.55	85.79	85.16
Total Debt	425.51	425.41	409	408.15	397.52	398.6
Net Cash (Debt)	-295.07	-371.19	-313.64	-365.9	-324.04	-277.22
Net Cash Per Share	-3.70	-4.57	-3.74	-4.25	-3.73	-3.50
Book Value Per Share	32.62	28.21	23.81	19.31	18.25	16.08
Tangible Book Value	2,511	2,214	1,922	1,610	1,562	1,366
Tangible Book Value Per Share	32.57	28.17	23.77	19.27	18.21	16.04
Machinery	-	10.49	11.41	10.73	9.65	9.12
Leasehold Improvements	-	2.51	2.51	2.51	3.4	3.4

Source: S&P Global Market Intelligence. Insurance template. Financial Sources.