NI Holdings Inc
Research NI Holdings Inc (NODK) on Bullrun: valuation model: 36.5% overvalued, market cap USD 303.62M, P/E 40.0. Explore financials, valuation history, model signals, and stock context.
Key Metrics
- TickerNODK
- ExchangeNASDAQ
- CountryUnited States
- SectorFinancial Services
- IndustryInsurance-Property & Casualty
- CurrencyUSD
- Valuation signal36.5% overvalued
- Market capUSD 303.62M
- P/E40.0
- Financial periodQ2 2026
- RevenueUSD 70.23M
- Net incomeUSD 146.00K
- Free cash flowUSD 893.00K
Valuation Snapshot
Bullrun's latest valuation model marks NI Holdings Inc as 36.5% overvalued; latest market cap is USD 303.62M; P/E is 40.0.
Peer valuation comparison
Latest P/E is 39.99x versus a Financial Services sector median of 13.41x (198.2% above).
Latest P/E is 39.99x versus a United States median of 23.75x (68.4% above).
Five-year financial history
| Year | Revenue | Net income | Free cash flow | Gross margin | Diluted EPS | Cash | Total debt | Equity |
|---|---|---|---|---|---|---|---|---|
| FY2025 | USD 285.05M | -USD 10.41M | -USD 15.49M | 24.5% | -0.5 | USD 51.72M | USD 2.40M | USD 240.34M |
| FY2024 | USD 325.20M | -USD 6.06M | USD 37.52M | 31.6% | -0.29 | USD 50.93M | USD 2.40M | USD 244.63M |
| FY2023 | USD 304.02M | -USD 5.48M | USD 50.37M | 34.7% | -0.26 | USD 41.04M | USD 2.40M | USD 250.40M |
| FY2022 | USD 267.78M | -USD 53.10M | -USD 16.17M | 11.2% | -2.49 | USD 47.00M | n/a | USD 253.21M |
Valuation history
| Year | Snapshot date | Market cap | P/E | Dividend yield | Annual dividend/share |
|---|---|---|---|---|---|
| 2026 | 2026-10-12 | USD 303.62M | 40.0 | n/a | n/a |
| 2025 | 2025-12-31 | USD 273.37M | n/a | n/a | n/a |
| 2024 | 2024-12-31 | USD 324.57M | 65.4 | n/a | n/a |
| 2023 | 2023-12-29 | USD 267.28M | n/a | n/a | n/a |
| 2022 | 2022-12-30 | USD 280.29M | n/a | n/a | n/a |
| 2021 | 2021-12-31 | USD 401.27M | 49.8 | n/a | n/a |
About NI Holdings Inc
NI Holdings, Inc., together with its subsidiaries, underwrites property and casualty insurance products in the United States. Its products include private passenger auto, homeowners, farm owners, commercial multi-peril, crop hail, excess liability, dwelling, and federal multi-peril crop insurance policies, as well as non-standard automobile insurance policies. The company was founded in 1946 and is headquartered in Fargo, North Dakota. NI Holdings, Inc. is a subsidiary of Nodak Mutual Group, Inc.
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Frequently asked questions
Is NI Holdings Inc overvalued or undervalued?
Bullrun's valuation model currently marks NI Holdings Inc as 36.5% overvalued.
What is NI Holdings Inc's market cap?
NI Holdings Inc's market capitalization is USD 303.62M.
What is NI Holdings Inc's P/E ratio?
NI Holdings Inc's price-to-earnings (P/E) ratio is 40.0.
What does NI Holdings Inc do?
NI Holdings, Inc., together with its subsidiaries, underwrites property and casualty insurance products in the United States. Its products include private passenger auto, homeowners, farm owners, commercial multi-peril, crop hail, excess liability, dwelling, and federal multi-peril crop insurance policies, as well as non-standard automobile insurance policies. The company was founded in 1946 and is headquartered in Fargo, North Dakota. NI Holdings, Inc. is a subsidiary of Nodak Mutual Group, Inc.