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National MI Valuation Multiples
Discover revenue and EBITDA valuation multiples for National MI and similar public comparables like Just Group, Türkiye Sigorta, Star Health and Allied, Vaudoise Assurances and more.
National MI Overview
About National MI
NMI Holdings Inc through its subsidiaries provides private mortgage guaranty insurance. The company offers mortgage insurance, reinsurance on loans, and outsourced loan review services to mortgage loan originators. It serves national and regional mortgage banks, money center banks, credit unions, community banks, builder-owned mortgage lenders, Internet-sourced lenders, and other non-bank lenders. It protects lenders and investors from default-related losses on a portion of the unpaid principal balance of a covered mortgage.
Founded
2011
HQ
Employees
225
Website
Sectors
Financials (LTM)
EV
$3B
National MI Financials
National MI reported last 12-month revenue of $610M.
In the same LTM period, National MI generated $390M in net income.
Revenue (LTM)
National MI P&L
In the most recent fiscal year, National MI reported revenue of $706M and net income of $389M.
National MI expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $610M | XXX | $706M | XXX | XXX | XXX |
| Net Profit | $390M | XXX | $389M | XXX | XXX | XXX |
| Net Margin | 64% | XXX | 55% | XXX | XXX | XXX |
| Net Debt | — | — | $373M | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
National MI Stock Performance
National MI has current market cap of $3B, and enterprise value of $3B.
Market Cap Evolution
National MI's stock price is $39.33.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $3B | $3B | 1.0% | XXX | XXX | XXX | $5.11 |
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National MI trades at 5.5x EV/Revenue multiple.
EV / Revenue (LTM)
National MI Financial Valuation Multiples
As of April 11, 2026, National MI has market cap of $3B and EV of $3B.
Equity research analysts estimate National MI's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
National MI has a P/E ratio of 7.7x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $3B | XXX | $3B | XXX | XXX | XXX |
| EV (current) | $3B | XXX | $3B | XXX | XXX | XXX |
| EV/Revenue | 5.5x | XXX | 4.8x | XXX | XXX | XXX |
| P/E | 7.7x | XXX | 7.7x | XXX | XXX | XXX |
| EV/FCF | 152.2x | XXX | 8.2x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified National MI Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
National MI Margins & Growth Rates
National MI's revenue in the last 12 month grew by 5%.
National MI's revenue per employee in the last FY averaged $3.1M, while opex per employee averaged $0.9M for the same period.
National MI Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 5% | XXX | (11%) | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $3.1M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.9M | XXX | XXX | XXX |
| Opex to Revenue | 33% | XXX | 27% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
National MI Public Comps
See public comps and valuation multiples for other Insurance Carriers comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Just Group | XXX | XXX | XXX | XXX | XXX | XXX |
| Türkiye Sigorta | XXX | XXX | XXX | XXX | XXX | XXX |
| Star Health and Allied | XXX | XXX | XXX | XXX | XXX | XXX |
| Vaudoise Assurances | XXX | XXX | XXX | XXX | XXX | XXX |
| Al Rajhi Takaful | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
National MI M&A Activity
National MI acquired XXX companies to date.
Last acquisition by National MI was on XXXXXXXX, XXXXX. National MI acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by National MI
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialNational MI Investment Activity
National MI invested in XXX companies to date.
National MI made its latest investment on XXXXXXXX, XXXXX. National MI invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by National MI
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout National MI
| When was National MI founded? | National MI was founded in 2011. |
| Where is National MI headquartered? | National MI is headquartered in United States. |
| How many employees does National MI have? | As of today, National MI has over 225 employees. |
| Who is the CEO of National MI? | National MI's CEO is Adam S. Pollitzer. |
| Is National MI publicly listed? | Yes, National MI is a public company listed on Nasdaq. |
| What is the stock symbol of National MI? | National MI trades under NMIH ticker. |
| When did National MI go public? | National MI went public in 2013. |
| Who are competitors of National MI? | National MI main competitors are Just Group, Türkiye Sigorta, Star Health and Allied, Vaudoise Assurances. |
| What is the current market cap of National MI? | National MI's current market cap is $3B. |
| What is the current revenue of National MI? | National MI's last 12 months revenue is $610M. |
| What is the current revenue growth of National MI? | National MI revenue growth (NTM/LTM) is 5%. |
| What is the current EV/Revenue multiple of National MI? | Current revenue multiple of National MI is 5.5x. |
| Is National MI profitable? | Yes, National MI is net-income-positive (as of the last 12 months). |
| What is the current net income of National MI? | National MI's last 12 months net income is $390M. |
| What is the current FCF of National MI? | National MI's last 12 months FCF is $22M. |
| What is National MI's FCF margin? | National MI's last 12 months FCF margin is 4%. |
| What is the current EV/FCF multiple of National MI? | Current FCF multiple of National MI is 152.2x. |
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