NMI Holdings (NMIH) FY2021 results: revenue $485 million, up 12.0% on the year
NMI Holdings, Inc. (NMIH) reported revenue of $485 million for fiscal 2021, the year ended 31 December 2021, up 12.0% on the year before. Net income was $231 million, up 34.7%, and diluted earnings per share $2.65. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2022.
Revenue
$485 million
+12.0% on the year
FY2014FY2021
Operating margin
61.2%
50.3% a year earlier
FY2014FY2021
Net income
$231 million
+34.7% on the year
FY2014FY2021
Diluted EPS
$2.65
+24.4% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
326
253
208
+28.9%
Capital expenditure
12.2
12.2
10.0
+0.6%
Free cash flow
313
240
198
+30.4%
Free cash flow margin
64.6%
55.5%
52.3%
Cash from investing
-374
-630
-194
Cash from financing
-1.8
463
2.0
Depreciation and amortisation
11.2
9.9
9.3
+13.1%
Share-based compensation
16.7
11.1
13.0
+50.0%
Buybacks
0.0
0.0
n/a
Diluted shares, weighted
87m
79m
70m
+9.6%
Shares outstanding at period end
86m
85m
68m
+0.7%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
1,566
1,370
930
+14.3%
Debt
395
393
146
+0.3%
Other liabilities
490
404
289
+21.4%
Total liabilities and equity
2,451
2,167
1,365
+13.1%
Fixed assets
32.0
29.7
26.1
+8.0%
Goodwill
3.2
3.2
3.2
0.0%
Securities held for sale or to maturity
2,086
1,804
1,141
+15.6%
Cash and equivalents
76.6
127
41.1
-39.6%
Other assets
253
203
153
+24.8%
Total assets
2,451
2,167
1,365
+13.1%
10-K for the year ended 31 December 2021, filed 16 February 2022: the filing.