A Business at a Glance
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All dollar amounts, except per share amounts, are in thousands. NI Holdings is a North Dakota business corporation that is the stock holding company of Nodak Insurance Company and became such in connection with the conversion of Nodak Mutual Insurance Company (“Nodak Mutual”) from a mutual to stock form of organization and the creation of a mutual holding company. The conversion was completed on March 13, 2017. Immediately following the conversion, all of the outstanding shares of common stock of Nodak Insurance Company (“Nodak Insurance,” the successor to Nodak Mutual Insurance Company) were issued to Nodak Mutual Group, Inc. (“Nodak Mutual Group”), which then contributed the shares to NI Holdings in exchange for 55% of the outstanding shares of common stock of NI Holdings. Nodak Insurance then became a wholly-owned stock subsidiary of NI Holdings. Prior to completion of the conversion, NI Holdings conducted no business and had no assets or liabilities.
| Metric | TTM | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | 298M | 325M | 366M | 324M | - | - |
| Net Income | 2.6M | -6.1M | -5.5M | -53M | 8.4M | 40M |
| EPS | $0.12 | $-0.29 | $-0.26 | $-2.49 | $0.39 | $1.84 |
| Free Cash Flow | -7.2M | 38M | 25M | -32M | 28M | 50M |
| ROIC | 0.0% | -2.5% | -2.2% | -21.0% | 3.0% | 16.3% |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 0.00 | 1.15 | 1.62 | 1.43 | 0.88 | 0.77 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 0 | -2.5M | -4.5M | -68M | 11M | 52M |
| Operating Margin | 0.0% | -0.8% | -1.2% | -21.1% | - | - |
| ROE | 0.5% | -1.3% | -1.3% | -21.0% | 2.4% | 11.6% |
| Shares Outstanding | 21M | 21M | 21M | 21M | 22M | 22M |
NI Holdings, Inc. passes 2 of 9 quality checks, indicating weak fundamentals.
NI Holdings, Inc. trades at 106.8x trailing earnings, compared to its 15-year median P/E of 14.6x, suggesting it is currently Expensive relative to its historical range. At current prices, the estimated annualized return to fair value is +3.9%.
NI Holdings, Inc. (NODK) has a current P/E ratio of 106.8, compared to its historical median P/E of 14.6. The stock is currently considered Expensive based on its historical valuation range.
NI Holdings, Inc. (NODK) has a 5-year average return on invested capital (ROIC) of -1.3%. This is below average and may indicate limited pricing power.
NI Holdings, Inc. (NODK) has a market capitalization of $264M. It is classified as a small-cap stock.
NI Holdings, Inc. (NODK) does not currently pay a regular dividend.
Based on historical P/E analysis, NI Holdings, Inc. (NODK) appears expensive. The current P/E of 106.8 is 634% above its historical median of 14.6. The estimated fair value CAGR (P/E method) is -41.8%.
NI Holdings, Inc. (NODK) operates in the Fire, Marine & Casualty Insurance industry, within the Financials sector.
NI Holdings, Inc. (NODK) reported annual revenue of $325 million in its most recent fiscal year, based on SEC EDGAR filings.
NI Holdings, Inc. (NODK) has a net profit margin of -1.9%. The company is currently unprofitable.
NI Holdings, Inc. (NODK) generated $38 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
NI Holdings, Inc. (NODK) has a debt-to-equity ratio of 1.15. This indicates moderate leverage.
NI Holdings, Inc. (NODK) reported earnings per share (EPS) of $-0.29 in its most recent fiscal year.
NI Holdings, Inc. (NODK) has a return on equity (ROE) of -1.3%. A negative ROE may indicate losses or negative equity.
The Ledger Terminal provides 10 years of financial data for NI Holdings, Inc. (NODK), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
NI Holdings, Inc. (NODK) has a book value per share of $11.71, based on its most recent annual SEC filing.
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