NMI Holdings (NMIH) FY2017 results: revenue $183 million, up 47.6% on the year
NMI Holdings, Inc. (NMIH) reported revenue of $183 million for fiscal 2017, the year ended 31 December 2017, up 47.6% on the year before. Net income was $22 million, down 65.5%, and diluted earnings per share $0.35. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2018.
Revenue
$183 million
+47.6% on the year
FY2012FY2017
Operating margin
28.9%
22.8% a year earlier
FY2012FY2017
Net income
$22 million
-65.5% on the year
FY2012FY2017
Diluted EPS
$0.35
-66.7% on the year
FY2012FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
183
124
53.6
+47.6%
Operating income
52.8
28.2
-27.6
+87.2%
Operating margin
28.9%
22.8%
-51.6%
Interest expense
13.5
14.8
2.1
-8.9%
Pre-tax income
52.8
11.5
-27.8
+361.0%
Income tax
30.7
-52.5
0.0
Effective tax rate
58.2%
-458.9%
n/a
Net income
22.1
64.0
-27.8
-65.5%
Net margin
12.1%
51.7%
-51.8%
Diluted EPS
$0.35
$1.05
-$0.47
-66.7%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
67.8
71.9
41.5
-5.8%
Capital expenditure
8.5
11.5
6.1
-25.8%
Free cash flow
59.3
60.5
35.3
-2.0%
Free cash flow margin
32.4%
48.8%
65.9%
Cash from investing
-93.1
-79.8
-230
Cash from financing
-3.2
-1.7
143
Depreciation and amortisation
6.7
4.9
3.2
+36.7%
Share-based compensation
9.5
6.9
8.2
+38.4%
Diluted shares, weighted
62m
61m
59m
+2.2%
Shares outstanding at period end
61m
59m
n/a
+2.3%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
509
476
403
+7.1%
Debt
144
144
144
-0.3%
Other liabilities
242
220
116
+9.9%
Total liabilities and equity
895
840
662
+6.5%
Fixed assets
22.8
20.4
15.2
+11.8%
Goodwill
3.2
3.2
3.2
0.0%
Securities held for sale or to maturity
716
629
559
+13.8%
Cash and equivalents
19.2
47.7
57.3
-59.8%
Other assets
134
140
27.5
-4.2%
Total assets
895
840
662
+6.5%
10-K for the year ended 31 December 2017, filed 16 February 2018: the filing.