NMI Holdings Balance Sheet

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Investments in Debt Securities	3,050	2,641	2,347	1,925	2,075
Other Investments	86.62	82.62	23.81	174.08	11.02
Total Investments	3,137	2,724	2,371	2,099	2,086
Cash & Equivalents	43.94	54.22	95.35	42.25	73.48
Reinsurance Recoverable	38.58	32.26	27.51	21.59	20.32
Other Receivables	113.51	105.19	96.24	83.82	72.26
Deferred Policy Acquisition Cost	64.37	64.33	62.91	58.56	59.58
Property, Plant & Equipment	28.43	33.88	39.35	42.33	34.65
Goodwill	3.24	3.24	3.24	3.24	3.24
Other Intangible Assets	0.39	0.39	0.39	0.39	0.39
Restricted Cash	-	0.09	1.34	2.18	3.17
Other Current Assets	400.26	322.18	235.29	154.41	89.24
Long-Term Deferred Charges	1.8	2.3	0.8	1.2	-
Other Long-Term Assets	9.56	8.36	7.07	6.67	8.32
Total Assets	3,841	3,350	2,941	2,516	2,451
Accounts Payable	92	87.56	83.69	72.08	69.5
Accrued Expenses	9.6	15.6	2.5	2.5	2.5
Unpaid Claims	196.43	152.07	123.97	99.84	103.55
Unearned Premiums	46.66	65.22	92.3	123.04	139.24
Reinsurance Payable	-	-	-	2.67	5.6
Current Portion of Leases	2.21	-	-	-	-
Long-Term Debt	417.03	415.15	397.6	396.05	394.62
Long-Term Leases	6.3	10.3	11.4	12.1	2.9
Long-Term Deferred Tax Liabilities	478.89	386.19	301.57	193.86	164.18
Other Long-Term Liabilities	-	0.45	1.48	0.17	2.71
Total Liabilities	1,249	1,133	1,015	902.3	884.8
Common Stock	0.88	0.88	0.87	0.87	0.86
Additional Paid-In Capital	1,017	1,005	990.82	972.72	955.3
Retained Earnings	1,972	1,583	1,223	901.04	608.14
Treasury Stock	-351.77	-246.59	-148.92	-56.58	-
Comprehensive Income & Other	-46.08	-124.8	-139.92	-204.32	1.49
Shareholders' Equity	2,592	2,217	1,926	1,614	1,566
Total Liabilities & Equity	3,841	3,350	2,941	2,516	2,451
Filing Date Shares Outstanding	76.03	78.45	80.88	83.66	85.84
Total Common Shares Outstanding	76.29	78.6	80.88	83.55	85.79
Total Debt	425.54	425.45	409	408.15	397.52
Net Cash (Debt)	-381.6	-371.23	-313.64	-365.9	-324.04
Net Cash Per Share	-4.83	-4.57	-3.74	-4.25	-3.73
Book Value Per Share	33.98	28.21	23.81	19.31	18.25
Tangible Book Value	2,588	2,214	1,922	1,610	1,562
Tangible Book Value Per Share	33.93	28.17	23.77	19.27	18.21
Machinery	11.2	10.49	11.41	10.73	9.65
Leasehold Improvements	2.51	2.51	2.51	2.51	3.4

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