NMI Holdings (NMIH) FY2023 results: revenue $579 million, up 10.6% on the year
NMI Holdings, Inc. (NMIH) reported revenue of $579 million for fiscal 2023, the year ended 31 December 2023, up 10.6% on the year before. Net income was $322 million, up 10.0%, and diluted earnings per share $3.84. The figures are the company's own, from the 10-K it filed with the SEC on 15 February 2024.
Revenue
$579 million
+10.6% on the year
FY2016FY2023
Operating margin
71.3%
72.1% a year earlier
FY2016FY2023
Net income
$322 million
+10.0% on the year
FY2016FY2023
Diluted EPS
$3.84
+13.3% on the year
FY2016FY2023
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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
343
313
326
+9.3%
Capital expenditure
9.4
10.6
12.2
-11.4%
Free cash flow
333
303
313
+10.1%
Free cash flow margin
57.6%
57.9%
64.6%
Cash from investing
-200
-290
-374
Cash from financing
-90.4
-55.8
-1.8
Depreciation and amortisation
11.5
11.9
11.2
-3.4%
Share-based compensation
16.9
15.4
16.7
+9.7%
Buybacks
91.6
56.6
0.0
+61.9%
Diluted shares, weighted
84m
86m
87m
-2.5%
Shares outstanding at period end
81m
84m
86m
-3.2%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
1,926
1,614
1,566
+19.4%
Debt
n/a
396
395
Other liabilities
1,015
506
490
+100.4%
Total liabilities and equity
2,941
2,516
2,451
+16.9%
Fixed assets
30.3
31.9
32.0
-5.3%
Goodwill
3.2
3.2
3.2
0.0%
Securities held for sale or to maturity
2,371
2,099
2,086
+12.9%
Cash and equivalents
96.7
44.4
76.6
+117.6%
Other assets
439
337
253
+30.3%
Total assets
2,941
2,516
2,451
+16.9%
10-K for the year ended 31 December 2023, filed 15 February 2024: the filing.