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Company Analysis

NI Holdings, Inc. NODK

A comprehensive view of key metrics, scores, and financial health for NI Holdings, Inc.

Overview of NI Holdings, Inc.

NODK NCM
Financial Services Insurance - Property & Casualty Framework: Insurance & Reinsurance Small Cap
NI Holdings, Inc. (NODK), is a Small Cap company, in the Insurance - Property & Casualty industry, last closed at $15.13, about 18.2% overvalued vs fair value, +14.3% 1Y return, ranked 837/1078 in sector.
Metrics Rev Growth -12.4% ROE -4.3%
USD 15.13
1.14%
(Delayed)
• Vol 90d: 17.3%
52-Week Range
Market Cap
$308.70M
Enterprise Value
$286.82M
Overall Score
View breakdown
Overall
Growth
Weak
Profitability
Weak
Health
Weak
Efficiency
Fair
Valuation
Weak
Growth
Weak
Profitability
Weak
Health
Weak
Efficiency
Fair
Valuation
Weak
Completeness: 76%
Confidence: 86%
Updated: Oct 31
Top Beats

Quick Facts

Website https://www.niholdingsinc.com
HQ Fargo, ND
Employees 202
Fiscal year Dec 31

Next Events

Earnings Nov 6 Estimated

Fair Value Snapshot

Bear Base Bull
$7
$12
$23
Current: $15.13 -18% vs base

Engine Room Money Flow™

Small Cap

Insurance & Reinsurance - Where revenue goes and how value is created

Flow Steps
Total Revenue
$285.1M
-12.3%%
Claims & Losses
-$278.7M
9.7%%
Acquisition & Admin Expenses
-$294.4M
Underwriting Result
$10.1M
-50.6%%
Money Flow Bridge
Flow Direction: Money moves from left to right
Components: Breakdown shows composition of each stage
Industry-Specific: Insurance & Reinsurance

Quality & Reliability Indicators

Loss Ratio
97.8%
Poor

Claims & Losses / Revenue — core underwriting discipline metric; lower is better

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Where It Leaks

Cash Flow Health healthy
Strong cash conversion with minimal leakage across profit-to-cash-to-value chain.
0
Active Leaks
0/0
Improving
0
High Impact
0
Critical
Moat Analysis Insurance & Reinsurance

Competitive Advantage Assessment

Evaluating NI Holdings, Inc.'s durable competitive advantages across 6 defense dimensions

Overall Moat Strength
18
/100
Weak
Scores based on quantitative metrics and qualitative factors
Full moat analysis

Key risks

  • Below-Peer Underwriting Margins Gross margin at 2.6th percentile and operating margin at 6.8th percentile indicate weak underwriting discipline vs peers.
  • Volatile Underwriting Results Underwriting stability is low (score 0.30), indicating significant exposure to loss cycle or catastrophe volatility.

The dashed ring is the peer median. Defense scores are percentile ranks against peers, so 50 is roughly the typical company in this group.

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Underwriting Discipline

Weak
16
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Signals, strengths and risks for Underwriting Discipline

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Signals, strengths and risks for Float Investment Quality

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Signals, strengths and risks for Pricing Power

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Signals, strengths and risks for Capital Strength & Solvency

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Signals, strengths and risks for Operational Efficiency

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Signals, strengths and risks for Scale & Diversification

Trade-Off Ledger™

Where management spends the performance budget - Growth, Profitability, or Safety

Insurance (Life, P&C, Reinsurance) vs Industry Peers 100% Coverage
Trade-Off Triangle Visualization A ternary plot showing NODK's balance between Growth (12.1%), Profitability (11.5%), and Safety (76.4%). Growth 12% Safety 76% Profitability 12%

Click axes to expand details. Marker shows current allocation.

3-Year Trend Analysis Locked
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Growth

11th percentile vs peers
11
Key Signals
Revenue CAGR 3Y 2.1% 20p Equity Growth YoY -1.8% 12p Rev Growth YoY -12.3% 5p EPS Growth YoY -72.6% 7p Asset Growth YoY -3.9% 10p
Strengths
  • Equity/Assets in top 20% of peers (47.5%, 82th percentile)
  • Financial Leverage in top 20% of peers (2.13, 84th percentile)
  • D/E Ratio in top 20% of peers (0.8%, 95th percentile)
  • Conservative leverage compared to industry peers
Risks
  • Growth in bottom 20% of peers (percentile: 11)
  • Equity Growth YoY in bottom 20% of peers (-1.8%)
  • Rev Growth YoY in bottom 20% of peers (-12.3%)

Profitability

10th percentile vs peers
11
Key Signals
Strengths
Risks
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Safety

69th percentile vs peers
70
Key Signals
Strengths
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Two Futures

Scenario-based fair value ranges for NI Holdings, Inc..

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Unable to Compute Fair Value

This company cannot be valued using standard models.

What this means: The Scenario Theatre requires financial data (revenue, cash flow, shares outstanding) to calculate fair value estimates. This data may be unavailable for:

  • Recently listed companies (IPOs, SPACs)
  • Shell companies or holding companies
  • Companies that haven't filed recent financials
  • Foreign companies with limited data coverage
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Bear
-
- - -
- upside
-
Base
$12.37
- - -
-18.2% vs current
Snapshot base estimate
Bull
-
- - -
- upside
-
Fair Value Range Current: $-
$- $- $-
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