NI Holdings, Inc.
NODK Nasdaq· Fire, Marine & Casualty Insurance
Last close · Oct 26, 2026
$14.81
KIRA · Stoqly’s AI analyst, in plain words
- NI Holdings, Inc. had $285M of revenue in fiscal 2025, down 12.3% on the year before. Over five years, revenue changed −1.4% a year on average.
- NI Holdings, Inc. lost $10.4M in fiscal 2025.
- Free cash flow was −$15.5M in fiscal 2025, −5.4% of revenue.
- NI Holdings, Inc. returned $6.7M to shareholders in fiscal 2025. The diluted share count fell 0.5%.
- NI Holdings, Inc. has $49.7M more cash than debt.
Market cap
$309M
P/E
40.0x
Revenue
$285M
Net income
−$10.4M
Free cash flow
−$15.5M
Operating margin
—
NI Holdings, Inc. in 30 seconds · fiscal 2025
Are sales growing?
−12.3%
No. Sales fell 12.3% last year.
Does it make a profit?
−3.7%
No. It lost money last year.
Does profit turn into cash?
−5.4%
No. It spent more cash than it brought in.
How healthy are the accounts?
1 / 8
Weak. It passes 1 of 8 health tests.
How is the share priced?
40.0x
One share costs 40.0 times its yearly profit per share.
What NI Holdings, Inc. does
No business description yet.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Mar 6, 2026
- Legal name
- NI Holdings, Inc.
- CIK
- 0001681206
NI Holdings, Inc. · NODK
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $324M | $268M | $304M | $325M | $285M |
| Revenue growth | 5.8% | −17.3% | 13.5% | 7.0% | −12.3% |
| Gross margin | 25.7% | 11.2% | 34.7% | 31.6% | 24.5% |
| Net income | $8.4M | −$53.1M | −$5.5M | −$6.1M | −$10.4M |
| Net margin | 2.6% | −19.8% | −1.8% | −1.9% | −3.7% |
| Diluted EPS | $0.39 | −$2.49 | −$0.26 | −$0.29 | −$0.50 |
| Cash | |||||
| Cash from operations | $29.2M | −$15.3M | $51.0M | $38.5M | −$15.3M |
| Capital expenditure | $0.7M | $0.9M | $0.7M | $1.0M | $0.2M |
| Free cash flow | $28.4M | −$16.2M | $50.4M | $37.5M | −$15.5M |
| FCF margin | 8.8% | −6.0% | 16.6% | 11.5% | −5.4% |
| Dividends paid | — | — | — | $8.3M | $6.7M |
| Share buybacks | $4.3M | $4.2M | — | — | — |
| Share count change | −1.3% | −1.5% | −0.5% | −0.7% | −0.5% |
| Debt and strength | |||||
| Cash and short-term investments | $71.1M | $47.5M | $41.5M | $51.4M | $52.2M |
| Debt incl. finance leases | — | — | $2.6M | $2.6M | $2.5M |
| Shareholders' equity | $347M | $253M | $250M | $245M | $240M |
| Returns and quality | |||||
| Return on equity | 2.4% | −17.7% | −2.2% | −2.4% | −4.3% |
| Return on tangible equity | 2.6% | −22.5% | −2.3% | −2.5% | −4.3% |
| Piotroski F-score | 5 | 2 | 6 | 4 | 1 |
Insiders bought, 12 months
$0.0M
0 insiders
Insiders sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
NI Holdings, Inc. · NODK
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
KIRA
At $14.81 a share, the company is worth $309M: 40.0 times its earnings of the last four quarters.
Source: SEC EDGAR XBRL filings (CIK 0001681206). Data updated October 24, 2026. For information only — not investment advice. Check the original filings before relying on any figure.