NI HOLDINGS, INC. financials
Source: EDGAR filings · Built 2026-06-02T03:40:24Z
Key metrics by reporting period
Up to six most-recent periods side-by-side. Rows are the curated key lines — revenue, margins, cash, debt, equity, cash-flow totals, plus the derived and valuation metrics we compute on top. For every tag a filer reported in one period, use the single-filing drilldown below.
Derived Metrics
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Free Cash Flow | -15.60M | 37.42M | 50.35M | -16.17M | 28.43M | 50.39M |
| Net Debt | -47.93M | -46.71M | -36.71M | -45.08M | -65.62M | -96.08M |
| Gross Margin | 24.51% | 31.56% | 34.73% | 11.20% | 25.68% | 37.60% |
| Net Margin | -3.65% | -1.86% | -1.80% | -19.83% | 2.60% | 13.18% |
| Return on Equity (ROE) | -4.33% | -2.48% | -2.19% | -20.97% | 2.42% | 11.58% |
| Return on Assets (ROA) | -2.06% | -1.15% | -0.84% | -8.64% | 1.29% | 6.54% |
| Debt-to-Equity | 0.02× | 0.02× | 0.02× | 0.01× | 0.01× | 0.01× |
| Effective Tax Rate | 15.54% | 34.94% | 3.48% | 26.84% | 26.30% | 21.72% |
| Cash Conversion Ratio | 1.47× | -6.35× | -9.32× | 0.29× | 3.47× | 1.26× |
| Accruals Ratio | 0.01× | -0.08× | -0.09× | -0.06× | -0.03× | -0.02× |
| SBC % of Revenue | 0.29% | 0.07% | 0.45% | -0.01% | 0.74% | 0.75% |
| CapEx Coverage | -46.99× | 35.33× | 75.37× | -17.42× | 39.47× | 82.81× |
| Free Cash Flow Per Share | $-0.74 | $1.77 | $2.37 | $-0.76 | $1.31 | $2.30 |
Valuation Metrics
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| P/E Trailing (Diluted) | — | — | — | — | 48.49× | 8.92× |
| P/FCF | — | 8.85× | 5.48× | — | 14.41× | 7.15× |
| FCF Yield | — | 11.30% | 18.25% | — | 6.94% | 13.99% |
| P/S | 0.96× | 1.00× | 0.88× | 1.04× | 1.24× | 1.14× |
| P/B | 1.14× | 1.33× | 1.07× | 1.10× | 1.16× | 1.00× |
Income Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenues | 285.05M | 325.20M | 304.02M | 267.78M | 323.97M | 306.36M |
| Gross Profit | 69.87M | 102.64M | 105.60M | 29.99M | 83.21M | 115.19M |
| Operating Expenses | 297.38M | 315.06M | 283.47M | 320.66M | 312.67M | 253.54M |
| Income Tax Expense (Benefit) | -1.92M | 3.54M | 716.00K | -14.19M | 2.97M | 11.47M |
| Net Income (Loss) Attributable to Parent | -10.41M | -6.06M | -5.48M | -53.10M | 8.42M | 40.39M |
| Earnings Per Share, Basic | $-0.50 | $-0.29 | $-0.26 | $-2.49 | $0.39 | $1.86 |
| Weighted Average Number of Shares Outstanding, Basic | 20.99M | 20.97M | 21.16M | 21.33M | 21.42M | 21.77M |
| Earnings Per Share, Diluted | $-0.50 | $-0.29 | $-0.26 | $-2.49 | $0.39 | $1.84 |
| Weighted Average Number of Shares Outstanding, Diluted | 20.99M | 21.09M | 21.24M | 21.33M | 21.66M | 21.94M |
Balance Sheet
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 51.72M | 50.93M | 41.04M | 47.00M | 70.62M | 101.08M |
| Assets | 506.00M | 526.54M | 654.89M | 614.23M | 651.78M | 617.60M |
| Long-term Debt | 2.40M | 2.40M | 2.40M | — | — | — |
| Liabilities | 265.67M | 281.91M | 404.49M | 361.02M | 304.37M | 268.73M |
| Stockholders' Equity Attributable to Parent | 240.34M | 244.63M | — | — | — | — |
| Common Stock, Shares, Outstanding | 20.55M | 20.67M | 20.60M | 21.08M | 21.22M | 21.32M |
Cash Flow Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | -15.27M | 38.51M | 51.03M | -15.29M | 29.17M | 51.01M |
| Payments to Acquire Property, Plant, and Equipment | 217.00K | 991.00K | 661.00K | 878.00K | 739.00K | 616.00K |
| Net Cash Provided by (Used in) Investing Activities | 18.84M | -4.54M | -8.81M | 25.05M | -48.15M | 200.00K |
| Payments for Repurchase of Common Stock | — | — | — | 4.18M | 4.32M | 12.23M |
| Payments of Dividends | 6.73M | 8.27M | — | — | — | — |
| Net Cash Provided by (Used in) Financing Activities | -2.78M | -3.64M | -7.47M | -18.28M | -11.47M | -12.27M |
Derived Metrics
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Free Cash Flow | -1.94M | 13.21M | -28.75M | 16.08M | 9.84M | 21.49M |
| Net Debt | -55.32M | -47.93M | -22.25M | — | -55.48M | -46.71M |
| Gross Margin | 53.28% | 30.81% | 20.52% | 8.41% | 40.56% | 52.66% |
| Net Margin | 20.99% | -5.17% | -2.18% | -15.84% | 9.04% | 13.32% |
| Return on Equity (ROE) | 5.00% | -1.31% | -0.68% | -4.95% | 2.54% | 4.03% |
| Return on Assets (ROA) | 2.54% | -0.62% | -0.31% | -1.94% | 1.23% | 1.87% |
| Debt-to-Equity | 0.01× | 0.02× | 0.01× | — | 0.01× | 0.02× |
| Effective Tax Rate | 20.38% | -8.98% | 10.33% | 21.36% | 16.63% | 28.83% |
| Cash Conversion Ratio | -0.15× | -4.19× | 17.11× | -1.35× | 1.53× | 2.21× |
| Accruals Ratio | 0.03× | -0.03× | 0.05× | -0.05× | -0.01× | -0.02× |
| SBC % of Revenue | 0.49% | -0.33% | 1.34% | 0.95% | 0.67% | -0.38% |
| CapEx Coverage | -26.67× | 472.82× | -116.85× | 77.94× | 214.96× | 90.53× |
| Free Cash Flow Per Share | $-0.09 | $0.63 | $-1.37 | $0.76 | $0.47 | $1.02 |
Valuation Metrics
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| P/E Trailing (Diluted) | — | — | 104.31× | 159.25× | — | — |
| P/S | 0.97× | 0.96× | 0.94× | 0.85× | 0.92× | 1.00× |
| P/B | 1.06× | 1.14× | 1.15× | 1.08× | 1.16× | 1.33× |
Income Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Revenues | 59.60M | 60.99M | 76.57M | 76.06M | 71.43M | 73.91M |
| Gross Profit | 31.76M | 18.79M | 15.71M | 6.40M | 28.97M | 38.92M |
| Operating Expenses | 43.89M | 63.89M | 78.43M | 91.38M | 63.69M | 60.08M |
| Income Tax Expense (Benefit) | 3.20M | 260.00K | -192.00K | -3.27M | 1.29M | 3.99M |
| Net Income (Loss) Attributable to Parent | 12.51M | -3.16M | -1.67M | -12.05M | 6.46M | 9.85M |
| Earnings Per Share, Basic | $0.60 | $-0.15 | $-0.08 | $-0.57 | $0.31 | $0.47 |
| Weighted Average Number of Shares Outstanding, Basic | 20.88M | 20.99M | 21.00M | 21.04M | 21.01M | 20.97M |
| Earnings Per Share, Diluted | $0.60 | $-0.15 | $-0.08 | $-0.57 | $0.31 | $0.47 |
| Weighted Average Number of Shares Outstanding, Diluted | 20.94M | 20.99M | 21.00M | 21.04M | 21.10M | 21.09M |
Balance Sheet
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 57.72M | 51.72M | 24.65M | 56.78M | 57.20M | 50.93M |
| Assets | 492.11M | 506.00M | 543.82M | 620.05M | 525.36M | 526.54M |
| Long-term Debt | 2.40M | 2.40M | 2.40M | — | — | 2.40M |
| Liabilities | 241.91M | 265.67M | 300.01M | 376.73M | 271.36M | 281.91M |
| Stockholders' Equity Attributable to Parent | 250.20M | 240.34M | — | — | 254.00M | 244.63M |
| Common Stock, Shares, Outstanding | 20.52M | 20.55M | 20.63M | 20.71M | 20.70M | 20.67M |
Cash Flow Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | -1.87M | 13.24M | -28.51M | 16.29M | 9.89M | 21.73M |
| Payments to Acquire Property, Plant, and Equipment | 42.00K | 0 | 217.00K | 182.00K | 20.00K | 214.00K |
| Net Cash Provided by (Used in) Investing Activities | 8.93M | 15.22M | 3.62M | -10.25M | -3.46M | -9.87M |
| Net Cash Provided by (Used in) Financing Activities | -1.06M | -1.40M | -1.39M | -189.00K | -157.00K | -30.00K |
Raw XBRL tagging for a single filing
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Methodology
All facts on this page come straight from SEC EDGAR XBRL
company-facts filings (NODK CIK 0001681206),
grouped by financial statement using FASB's base
us-gaap presentation taxonomy. Filers may re-parent
concepts onto different statements in their own extension
taxonomy, so a handful of rows can show up under a different
statement than on the actual 10-K / 10-Q; custom concepts and
any we couldn't map fall into Other. Hover a
cell to see the fully-qualified concept name and the filer's
description.
For the full methodology — statement grouping, the Other bucket, derived metrics, and fact tooltips — see the methodology reference for the statement grouping, the "Other" bucket, derived metrics, and fact tooltips.