NI Holdings, Inc. (NODK)
Nasdaq · Fire, Marine & Casualty Insurance · Finance, insurance and real estate · CIK 1681206 · fiscal year ends in Dec
Closing price $15.01 on 30 Oct 2026; 52-week range $12.48 to $16.33.
Key figures
The last twelve months reported, with the latest price and balance sheet.
- Revenue, last twelve months
- $267.4M
- Revenue growth
- -13.9%
- Net income, last twelve months
- $7.8M
- Earnings per share
- $0.37
- Gross margin
- 31.0%
- Operating margin
- 4.2%
- Net margin
- 2.9%
- Free cash flow
- -$32.6M
- Return on equity
- 3.1%
- Market value
- $306.6M
- Price to earnings
- 40.6x
- Cash
- $51.6M
- Debt
- $2.4M
- Debt to equity
- 0.01
- Shares outstanding
- 20.4M
Financial statements
Revenue, profit and cash flow by fiscal year, each year linked to its annual report.
| Fiscal year | Year end | Revenue | Operating income | Net income | EPS | Free cash flow | Filing |
|---|---|---|---|---|---|---|---|
| FY2025 | 31 Dec 2025 | $285.1M | -$12.3M | -$10.4M | -$0.50 | -$15.5M | 10-K filed 6 Mar 2026 |
| FY2024 | 31 Dec 2024 | $325.2M | $10.1M | -$6.1M | -$0.29 | $37.5M | 10-K filed 7 Mar 2025 |
| FY2023 | 31 Dec 2023 | $304.0M | $20.5M | -$5.5M | -$0.26 | $50.4M | 10-K filed 15 Mar 2024 |
| FY2022 | 31 Dec 2022 | $267.8M | -$52.9M | -$53.1M | -$2.49 | -$16.2M | 10-K filed 8 Mar 2023 |
| FY2021 | 31 Dec 2021 | $324.0M | $11.3M | $8.4M | $0.39 | $28.4M | 10-K filed 9 Mar 2022 |
By quarter
| Quarter | Quarter end | Revenue | Net income | EPS |
|---|---|---|---|---|
| Q2 FY2026 | 30 Jun 2026 | $70.2M | $146.0K | $0.01 |
| Q1 FY2026 | 31 Mar 2026 | $59.6M | $12.5M | $0.60 |
| Q4 FY2025 | 31 Dec 2025 | $61.0M | -$3.2M | -$0.16 |
| Q3 FY2025 | 30 Sep 2025 | $76.6M | -$1.7M | -$0.08 |
| Q2 FY2025 | 30 Jun 2025 | $76.1M | -$12.1M | -$0.57 |
| Q1 FY2025 | 31 Mar 2025 | $71.4M | $6.5M | $0.31 |
| Q4 FY2024 | 31 Dec 2024 | $73.9M | $6.5M | $0.31 |
| Q3 FY2024 | 30 Sep 2024 | $89.0M | -$2.7M | -$0.13 |
Company events
The newest 8-K filings of 85 held.
| Filed | Form | Event | Items |
|---|---|---|---|
| 7 Aug 2026 | 8-K | Results | 2.02, 9.01 |
| 26 May 2026 | 8-K | Leadership change, Shareholder vote | 5.02, 5.07 |
| 8 May 2026 | 8-K | Results | 2.02, 9.01 |
| 6 Mar 2026 | 8-K | Results | 2.02, 9.01 |
| 23 Feb 2026 | 8-K | Leadership change | 5.02 |
| 7 Nov 2025 | 8-K | Results | 2.02, 9.01 |
| 31 Oct 2025 | 8-K | Leadership change | 5.02 |
| 29 Oct 2025 | 8-K/A | Leadership change | 5.02 |
| 10 Oct 2025 | 8-K | Leadership change, Investor update | 5.02, 7.01, 9.01 |
| 25 Aug 2025 | 8-K | Other events | 8.01, 9.01 |
| 8 Aug 2025 | 8-K | Results | 2.02, 9.01 |
| 27 May 2025 | 8-K | Leadership change, Investor update | 5.02, 7.01, 9.01 |
Every filing
The newest filings with the SEC of 168 held.
| Filed | Form | Period |
|---|---|---|
| 7 Aug 2026 | 8-K | 7 Aug 2026 |
| 7 Aug 2026 | 10-Q | 30 Jun 2026 |
| 26 May 2026 | 8-K | 19 May 2026 |
| 8 May 2026 | 8-K | 8 May 2026 |
| 8 May 2026 | 10-Q | 31 Mar 2026 |
| 8 Apr 2026 | ARS | 31 Dec 2025 |
| 8 Apr 2026 | DEFA14A | – |
| 8 Apr 2026 | DEF 14A | 19 May 2026 |
| 6 Mar 2026 | 8-K | 6 Mar 2026 |
| 6 Mar 2026 | 10-K | 31 Dec 2025 |
| 23 Feb 2026 | 8-K | 17 Feb 2026 |
| 7 Nov 2025 | 8-K | 7 Nov 2025 |
Large holders
Schedule 13D and 13G filings by holders of more than 5% of the voting shares.
| Filed | Holder | Schedule | Stake | Shares |
|---|---|---|---|---|
| 23 Apr 2026 | M3 Funds, LLC | 13G amended | 8.04% | 1.7M |
Short interest
Shares sold short and not yet bought back, on each FINRA settlement date.
| Settlement | Shares short | Change | Days to cover |
|---|---|---|---|
| 15 Oct 2026 | 99.0K | +4.92% | 4.63 |
| 30 Sep 2026 | 94.4K | +5.52% | 2.5 |
| 15 Sep 2026 | 89.4K | +18.02% | 2.62 |
| 31 Aug 2026 | 75.8K | -0.33% | 4.84 |
| 14 Aug 2026 | 76.0K | +7.61% | 3.32 |
| 31 Jul 2026 | 70.7K | +11.41% | 3.24 |
| 15 Jul 2026 | 63.4K | -5.24% | 4.05 |
| 30 Jun 2026 | 66.9K | +30.7% | 1.34 |
Funds that hold it
From each fund's latest Form 13F.
83 funds held it at 30 Jun 2026: 39 added and 20 trimmed in the quarter. The largest:
| Fund | Shares | Value | Change in the quarter |
|---|---|---|---|
| M3F, Inc. | 1,552,020 | $24.4M | -100,000 |
| Newtyn Management, LLC | 670,000 | $10.5M | 0 |
| BlackRock, Inc. | 545,925 | $8.6M | +17,123 |
| Dimensional Fund Advisors LP | 360,722 | $5.7M | +19,606 |
| Vanguard Capital Management LLC | 288,170 | $4.5M | -6,628 |
| Arbiter Partners Capital Management LLC | 187,776 | $2.9M | – |
| Geode Capital Management, LLC | 181,574 | $2.9M | +27,871 |
| Morgan Stanley | 181,564 | $2.9M | +143,168 |
| State Street Corp. | 134,886 | $2.1M | -3,869 |
| Minerva Advisors LLC | 129,900 | $2.0M | 0 |
Peers
Companies in the same industry.
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- Hartford Insurance Group, Inc. (HIG): revenue $29.0B, market value $35.5B
- Everest Group, Ltd. (EG): revenue $16.2B, market value $30.6B
- Cincinnati Financial Corp. (CINF): revenue $13.3B, market value $27.8B