Ni Holdings, Inc.

Finance
Property-Casualty Insurers
www.niholdingsinc.com

Earnings Score
Moat Score
Safety Score

Market Cap $345.04M
PE -39
Debt $2.40M
Cash $39.10M
EV $308.34M
FCF $35.45M

Earnings

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Sales & Net Margins

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Earnings	-$8.95M
EBIT	$7.83M
ROE	-4%
ROA	1%
FCF	$35.45M
Equity	$241.37M
Growth Stability	-215%
PE	-38.56
PEG	5.76
PB	1.43
P/FCF	9.73
P/S	1
Price/Cash	0.11
Debt/Equity	0.01
Debt/FCF	0.07
Net Margins	-6%
Gross Margins	31%
Op. Margins	2%
Earnings CAGR	0%
Sales Growth YoY	-4%
Sales Growth QoQ	25%
Sales CAGR	11%
FCF CAGR	6%
Equity CAGR	4%
Earnings Stability	0
Earnings Growth YoY	-2K%

Earnings Growth QoQ	-62%
Earnings CAGR 5Y	-7%
Sales CAGR 5Y	6%
FCF CAGR 5Y	-0%
Equity CAGR 5Y	-8%
Earnings CAGR 3Y	6%
Sales CAGR 3Y	6%
FCF CAGR 3Y	13%
Equity CAGR 3Y	-10%
Market Cap	$345.04M
Revenue	$345.70M
Assets	$559.90M
Total Debt	$2.40M
Cash	$39.10M
Shares Outstanding	20.65M
EV	308.34M
Earnings Score	6%
Moat Score	12%
Safety Score	67%
Final Score	28%
Gross Profit	$107.80M
Shares Growth 3y	-1%
Equity Growth QoQ	1%
Equity Growth YoY	5%

Assets & ROA

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Stockholders Equity & ROE

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NI Holdings Inc is a stockholding company. The company's operating segments include private passenger auto insurance, non-standard auto insurance, home and farm insurance, crop insurance, commercial insurance, and other. It generates maximum revenue from the home and farm insurance segment.

SEC Filings

Direct access to Ni Holdings, Inc. (NODK) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Ni Holdings, Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Ni Holdings, Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 0%

Stability 0%

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Ni Holdings, Inc. Discounted Cash Flow

Fully customizable DCF calculator online for Ni Holdings, Inc..

Years

Calculation mode

= $541M

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$35M	$38M	$40M	$42M	$45M	$48M	$51M	$54M	$57M	$61M	$64M	$644M
DCF		$34M	$33M	$32M	$31M	$30M	$29M	$28M	$27M	$26M	$25M	$248M
Value	$541M

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	10%	12%	3%	8%	15%	10%	13%	3%	-17%	-1%	-6%
ROA	-	10%	2%	6%	8%	7%	9%	2%	-11%	-1%	1%
ROE	-	12%	3%	6%	11%	9%	12%	2%	-21%	-2%	-4%

Bad Net Margins (-6.33%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	0.18	0.44	0.18	-	-	-	-	-	0.1	0.07
Debt over Equity	0.02	0.02	0.02	0.01	-	-	-	-	-	0.01	0.01
Growth Stability	-	-	-	100%	100%	100%	100%	26%	-215%	-	-215%

Good Debt/FCF ratio (0.07)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Good Debt/Equity ratio (0.01)

The company is not overleveraged and has a good balance between equity and debt.

Bad Graham’s Stability (-215%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	6%	12%	15%	12%	28%	13%	6%	0%	13%	6%
Earnings YoY growth	-	27%	-74%	243%	99%	-15%	53%	-79%	-745%	-90%	-7%
Equity YoY growth	-	10%	2%	67%	8%	12%	13%	-0%	-27%	-1%	-8%
FCF YoY growth	-	70%	-59%	153%	14%	26%	107%	-44%	-211%	-179%	-0%