Intrinsic value of NMI Holdings Cl A - NMIH

Previous Close

$17.25

  Intrinsic Value

$41.56

stock screener

  Rating & Target

str. buy

+141%

Previous close

$17.25

 
Intrinsic value

$41.56

 
Up/down potential

+141%

 
Rating

str. buy

Our model is not good at valuating stocks of financial companies, such as NMIH.

We calculate the intrinsic value of NMIH stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 1.0

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  117.86
  44.80
  40.82
  37.24
  34.01
  31.11
  28.50
  26.15
  24.04
  22.13
  20.42
  18.88
  17.49
  16.24
  15.12
  14.10
  13.19
  12.38
  11.64
  10.97
  10.38
  9.84
  9.35
  8.92
  8.53
  8.17
  7.86
  7.57
  7.31
  7.08
  6.87
Revenue, $m
  0
  177
  249
  341
  458
  600
  771
  972
  1,206
  1,473
  1,774
  2,109
  2,478
  2,880
  3,315
  3,783
  4,282
  4,812
  5,372
  5,962
  6,580
  7,228
  7,904
  8,609
  9,343
  10,107
  10,901
  11,726
  12,584
  13,475
  14,401
Variable operating expenses, $m
 
  51
  71
  98
  131
  172
  221
  279
  346
  423
  509
  605
  711
  827
  952
  1,086
  1,229
  1,381
  1,542
  1,711
  1,889
  2,074
  2,268
  2,471
  2,681
  2,901
  3,129
  3,365
  3,612
  3,867
  4,133
Fixed operating expenses, $m
 
  69
  70
  72
  74
  76
  78
  80
  82
  84
  86
  88
  90
  92
  95
  97
  99
  102
  104
  107
  110
  113
  115
  118
  121
  124
  127
  131
  134
  137
  141
Total operating expenses, $m
  96
  120
  141
  170
  205
  248
  299
  359
  428
  507
  595
  693
  801
  919
  1,047
  1,183
  1,328
  1,483
  1,646
  1,818
  1,999
  2,187
  2,383
  2,589
  2,802
  3,025
  3,256
  3,496
  3,746
  4,004
  4,274
Operating income, $m
  26
  57
  107
  171
  252
  352
  472
  614
  778
  967
  1,179
  1,416
  1,676
  1,961
  2,269
  2,600
  2,954
  3,329
  3,726
  4,144
  4,582
  5,041
  5,520
  6,020
  6,540
  7,082
  7,645
  8,230
  8,838
  9,471
  10,128
EBITDA, $m
  32
  60
  111
  177
  259
  361
  484
  629
  797
  990
  1,207
  1,449
  1,715
  2,006
  2,321
  2,659
  3,021
  3,404
  3,810
  4,237
  4,685
  5,154
  5,643
  6,154
  6,686
  7,239
  7,815
  8,413
  9,035
  9,681
  10,352
Interest expense (income), $m
  10
  10
  21
  36
  55
  79
  108
  144
  185
  233
  288
  350
  419
  495
  578
  668
  764
  867
  976
  1,092
  1,213
  1,341
  1,474
  1,613
  1,759
  1,910
  2,067
  2,231
  2,401
  2,578
  2,761
Earnings before tax, $m
  11
  47
  86
  135
  197
  273
  363
  470
  593
  733
  891
  1,065
  1,257
  1,466
  1,691
  1,932
  2,189
  2,462
  2,749
  3,052
  3,369
  3,700
  4,046
  4,406
  4,782
  5,172
  5,578
  5,999
  6,437
  6,893
  7,366
Tax expense, $m
  -55
  13
  23
  37
  53
  74
  98
  127
  160
  198
  240
  288
  339
  396
  457
  522
  591
  665
  742
  824
  910
  999
  1,092
  1,190
  1,291
  1,396
  1,506
  1,620
  1,738
  1,861
  1,989
Net income, $m
  66
  35
  63
  99
  144
  199
  265
  343
  433
  535
  650
  778
  918
  1,070
  1,234
  1,411
  1,598
  1,797
  2,007
  2,228
  2,459
  2,701
  2,954
  3,217
  3,491
  3,775
  4,072
  4,379
  4,699
  5,032
  5,377

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  840
  1,218
  1,716
  2,355
  3,155
  4,137
  5,316
  6,706
  8,318
  10,160
  12,234
  14,544
  17,087
  19,862
  22,865
  26,090
  29,532
  33,187
  37,049
  41,115
  45,381
  49,846
  54,509
  59,371
  64,433
  69,701
  75,177
  80,869
  86,784
  92,931
  99,320
Adjusted assets (=assets-cash), $m
  840
  1,218
  1,716
  2,355
  3,155
  4,137
  5,316
  6,706
  8,318
  10,160
  12,234
  14,544
  17,087
  19,862
  22,865
  26,090
  29,532
  33,187
  37,049
  41,115
  45,381
  49,846
  54,509
  59,371
  64,433
  69,701
  75,177
  80,869
  86,784
  92,931
  99,320
Revenue / Adjusted assets
  0.000
  0.145
  0.145
  0.145
  0.145
  0.145
  0.145
  0.145
  0.145
  0.145
  0.145
  0.145
  0.145
  0.145
  0.145
  0.145
  0.145
  0.145
  0.145
  0.145
  0.145
  0.145
  0.145
  0.145
  0.145
  0.145
  0.145
  0.145
  0.145
  0.145
  0.145
Average production assets, $m
  10
  14
  19
  27
  36
  47
  60
  76
  94
  115
  138
  164
  193
  225
  259
  295
  334
  375
  419
  465
  513
  564
  616
  671
  729
  788
  850
  915
  982
  1,051
  1,123
Working capital, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total debt, $m
  144
  308
  523
  799
  1,146
  1,571
  2,082
  2,684
  3,382
  4,179
  5,077
  6,077
  7,179
  8,380
  9,680
  11,077
  12,567
  14,150
  15,822
  17,583
  19,430
  21,363
  23,382
  25,487
  27,680
  29,960
  32,332
  34,796
  37,358
  40,019
  42,786
Total liabilities, $m
  364
  528
  743
  1,019
  1,366
  1,791
  2,302
  2,904
  3,602
  4,399
  5,297
  6,297
  7,399
  8,600
  9,900
  11,297
  12,787
  14,370
  16,042
  17,803
  19,650
  21,583
  23,602
  25,707
  27,900
  30,180
  32,552
  35,016
  37,578
  40,239
  43,006
Total equity, $m
  476
  691
  973
  1,335
  1,789
  2,346
  3,014
  3,803
  4,717
  5,760
  6,937
  8,246
  9,688
  11,262
  12,964
  14,793
  16,745
  18,817
  21,007
  23,312
  25,731
  28,263
  30,906
  33,663
  36,534
  39,520
  42,625
  45,853
  49,207
  52,692
  56,314
Total liabilities and equity, $m
  840
  1,219
  1,716
  2,354
  3,155
  4,137
  5,316
  6,707
  8,319
  10,159
  12,234
  14,543
  17,087
  19,862
  22,864
  26,090
  29,532
  33,187
  37,049
  41,115
  45,381
  49,846
  54,508
  59,370
  64,434
  69,700
  75,177
  80,869
  86,785
  92,931
  99,320
Debt-to-equity ratio
  0.303
  0.450
  0.540
  0.600
  0.640
  0.670
  0.690
  0.710
  0.720
  0.730
  0.730
  0.740
  0.740
  0.740
  0.750
  0.750
  0.750
  0.750
  0.750
  0.750
  0.760
  0.760
  0.760
  0.760
  0.760
  0.760
  0.760
  0.760
  0.760
  0.760
  0.760
Adjusted equity ratio
  0.567
  0.567
  0.567
  0.567
  0.567
  0.567
  0.567
  0.567
  0.567
  0.567
  0.567
  0.567
  0.567
  0.567
  0.567
  0.567
  0.567
  0.567
  0.567
  0.567
  0.567
  0.567
  0.567
  0.567
  0.567
  0.567
  0.567
  0.567
  0.567
  0.567
  0.567

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  66
  35
  63
  99
  144
  199
  265
  343
  433
  535
  650
  778
  918
  1,070
  1,234
  1,411
  1,598
  1,797
  2,007
  2,228
  2,459
  2,701
  2,954
  3,217
  3,491
  3,775
  4,072
  4,379
  4,699
  5,032
  5,377
Depreciation, amort., depletion, $m
  6
  3
  4
  5
  7
  9
  12
  15
  19
  23
  28
  33
  39
  45
  52
  59
  67
  75
  84
  93
  103
  113
  123
  134
  146
  158
  170
  183
  196
  210
  225
Funds from operations, $m
  116
  37
  66
  104
  151
  209
  277
  358
  452
  558
  678
  811
  956
  1,115
  1,286
  1,470
  1,665
  1,872
  2,091
  2,321
  2,562
  2,814
  3,077
  3,351
  3,636
  3,933
  4,242
  4,562
  4,896
  5,242
  5,602
Change in working capital, $m
  44
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from operations, $m
  72
  37
  66
  104
  151
  209
  277
  358
  452
  558
  678
  811
  956
  1,115
  1,286
  1,470
  1,665
  1,872
  2,091
  2,321
  2,562
  2,814
  3,077
  3,351
  3,636
  3,933
  4,242
  4,562
  4,896
  5,242
  5,602
Maintenance CAPEX, $m
  0
  -2
  -3
  -4
  -5
  -7
  -9
  -12
  -15
  -19
  -23
  -28
  -33
  -39
  -45
  -52
  -59
  -67
  -75
  -84
  -93
  -103
  -113
  -123
  -134
  -146
  -158
  -170
  -183
  -196
  -210
New CAPEX, $m
  -11
  -4
  -6
  -7
  -9
  -11
  -13
  -16
  -18
  -21
  -23
  -26
  -29
  -31
  -34
  -36
  -39
  -41
  -44
  -46
  -48
  -50
  -53
  -55
  -57
  -60
  -62
  -64
  -67
  -70
  -72
Cash from investing activities, $m
  -80
  -6
  -9
  -11
  -14
  -18
  -22
  -28
  -33
  -40
  -46
  -54
  -62
  -70
  -79
  -88
  -98
  -108
  -119
  -130
  -141
  -153
  -166
  -178
  -191
  -206
  -220
  -234
  -250
  -266
  -282
Free cash flow, $m
  -8
  31
  58
  93
  137
  190
  255
  331
  418
  519
  631
  757
  895
  1,045
  1,207
  1,381
  1,567
  1,764
  1,972
  2,191
  2,421
  2,661
  2,911
  3,173
  3,445
  3,728
  4,022
  4,328
  4,646
  4,976
  5,320
Issuance/(repayment) of debt, $m
  -2
  164
  215
  277
  347
  425
  511
  602
  698
  797
  898
  1,000
  1,101
  1,202
  1,300
  1,396
  1,491
  1,582
  1,672
  1,760
  1,847
  1,933
  2,019
  2,105
  2,192
  2,281
  2,371
  2,465
  2,561
  2,662
  2,766
Issuance/(repurchase) of shares, $m
  1
  180
  219
  264
  310
  357
  403
  445
  481
  509
  526
  532
  525
  503
  468
  418
  354
  275
  183
  77
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  -2
  344
  434
  541
  657
  782
  914
  1,047
  1,179
  1,306
  1,424
  1,532
  1,626
  1,705
  1,768
  1,814
  1,845
  1,857
  1,855
  1,837
  1,847
  1,933
  2,019
  2,105
  2,192
  2,281
  2,371
  2,465
  2,561
  2,662
  2,766
Total cash flow (excl. dividends), $m
  -10
  375
  493
  633
  794
  973
  1,168
  1,378
  1,597
  1,824
  2,056
  2,289
  2,521
  2,750
  2,975
  3,196
  3,411
  3,622
  3,827
  4,029
  4,268
  4,594
  4,930
  5,278
  5,637
  6,009
  6,393
  6,793
  7,207
  7,638
  8,086
Retained Cash Flow (-), $m
  -73
  -215
  -282
  -362
  -454
  -557
  -669
  -788
  -914
  -1,044
  -1,176
  -1,309
  -1,442
  -1,573
  -1,702
  -1,829
  -1,952
  -2,072
  -2,190
  -2,305
  -2,419
  -2,532
  -2,644
  -2,757
  -2,871
  -2,987
  -3,105
  -3,227
  -3,354
  -3,485
  -3,622
Prev. year cash balance distribution, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  160
  211
  271
  340
  416
  500
  589
  683
  781
  879
  979
  1,078
  1,176
  1,273
  1,367
  1,459
  1,549
  1,637
  1,724
  1,849
  2,062
  2,287
  2,521
  2,766
  3,022
  3,288
  3,565
  3,853
  4,153
  4,464
Discount rate, %
 
  6.10
  6.41
  6.73
  7.06
  7.41
  7.79
  8.17
  8.58
  9.01
  9.46
  9.94
  10.43
  10.95
  11.50
  12.08
  12.68
  13.32
  13.98
  14.68
  15.41
  16.19
  16.99
  17.84
  18.74
  19.67
  20.66
  21.69
  22.77
  23.91
  25.11
PV of cash for distribution, $m
 
  151
  186
  223
  258
  291
  319
  340
  354
  359
  356
  345
  328
  305
  277
  247
  216
  185
  155
  128
  105
  88
  72
  58
  45
  34
  25
  18
  12
  8
  5
Current shareholders' claim on cash, %
  100
  85.1
  74.3
  66.0
  59.6
  54.6
  50.6
  47.4
  44.8
  42.6
  40.9
  39.5
  38.4
  37.5
  36.8
  36.3
  35.9
  35.6
  35.4
  35.4
  35.4
  35.4
  35.4
  35.4
  35.4
  35.4
  35.4
  35.4
  35.4
  35.4
  35.4

NMI Holdings, Inc. (NMIH) provides private mortgage guaranty insurance through its insurance subsidiaries. The Company's primary insurance subsidiary, National Mortgage Insurance Corporation (NMIC), is a mortgage insurance (MI) provider on loans purchased by the Government-sponsored enterprises (GSEs). Its reinsurance subsidiary, National Mortgage Reinsurance Inc One (Re One), provides reinsurance to NMIC on certain loans insured by NMIC. NMIH's subsidiary, NMI Services, Inc. (NMIS), provides outsourced loan review services to mortgage loan originators. Its Primary mortgage insurance provides mortgage default protection on individual loans at specified coverage percentages. Primary insurance may be written on a flow basis, in which loans are insured as loan originations occur in individual, loan-by-loan transactions, or an aggregated basis, in which each loan in a portfolio of loans is individually insured in a single transaction, typically after the loans have been originated.

FINANCIAL RATIOS  of  NMI Holdings Cl A (NMIH)

Valuation Ratios
P/E Ratio 15.5
Price to Sales 8.4
Price to Book 2.1
Price to Tangible Book
Price to Cash Flow 14.2
Price to Free Cash Flow 16.7
Growth Rates
Sales Growth Rate 117.9%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 83.3%
Cap. Spend. - 3 Yr. Gr. Rate 9.5%
Financial Strength
Quick Ratio NaN
Current Ratio NaN
LT Debt to Equity 30.3%
Total Debt to Equity 30.3%
Interest Coverage 2
Management Effectiveness
Return On Assets 16.8%
Ret/ On Assets - 3 Yr. Avg. 0.5%
Return On Total Capital 11.3%
Ret/ On T. Cap. - 3 Yr. Avg. -1.8%
Return On Equity 15%
Return On Equity - 3 Yr. Avg. -0.9%
Asset Turnover 0.2
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 22.1%
EBITDA Margin - 3 Yr. Avg. -71.5%
Operating Margin 21.3%
Oper. Margin - 3 Yr. Avg. -86.6%
Pre-Tax Margin 9%
Pre-Tax Margin - 3 Yr. Avg. -90.9%
Net Profit Margin 54.1%
Net Profit Margin - 3 Yr. Avg. -72.9%
Effective Tax Rate -500%
Eff/ Tax Rate - 3 Yr. Avg. -165.4%
Payout Ratio 0%

NMIH stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the NMIH stock intrinsic value calculation we used $122 million for the last fiscal year's total revenue generated by NMI Holdings Cl A. The default revenue input number comes from 2016 income statement of NMI Holdings Cl A. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our NMIH stock valuation model: a) initial revenue growth rate of 44.8% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 6.1%, whose default value for NMIH is calculated based on our internal credit rating of NMI Holdings Cl A, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of NMI Holdings Cl A.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of NMIH stock the variable cost ratio is equal to 28.7%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $67 million in the base year in the intrinsic value calculation for NMIH stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 6.9% for NMI Holdings Cl A.

Corporate tax rate of 27% is the nominal tax rate for NMI Holdings Cl A. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the NMIH stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for NMIH are equal to 7.8%.

Life of production assets of 1.8 years is the average useful life of capital assets used in NMI Holdings Cl A operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for NMIH is equal to 0%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $476 million for NMI Holdings Cl A - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 59.862 million for NMI Holdings Cl A is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of NMI Holdings Cl A at the current share price and the inputted number of shares is $1.0 billion.

RELATED COMPANIES Price Int.Val. Rating
RDN Radian Group 21.57 24.29  hold
MTG MGIC Investmen 14.81 14.01  hold
ESNT Essent Group 44.89 94.95  str.buy
ACGL Arch Capital G 92.01 395.10  str.buy
AIG American Inter 59.39 62.21  hold
FISV Fiserv 131.96 64.79  sell
CG Carlyle Group 21.75 149.08  str.buy

COMPANY NEWS

▶ NMI Holdings posts 3Q profit   [Nov-01-17 05:16PM  Associated Press]
▶ What Is NMI Holdings Incs (NMIH) Share Price Doing?   [Oct-30-17 06:11AM  Simply Wall St.]
▶ Stocks Close Lower; Is Alphabet's Breakout For Real?   [Oct-12-17 04:13PM  Investor's Business Daily]
▶ NMI Holdings posts 2Q profit   [Aug-02-17 12:13AM  Associated Press]
▶ ETFs with exposure to NMI Holdings, Inc. : June 2, 2017   [Jun-02-17 02:22PM  Capital Cube]
▶ NMI Holdings posts 1Q profit   [May-04-17 05:14PM  Associated Press]
▶ National MI Announces Pricing of Insurance-Linked Notes   [Apr-26-17 08:00AM  Marketwired]
▶ Hedge Funds Are Betting On Casella Waste Systems Inc. (CWST)   [Dec-02-16 05:50AM  at Insider Monkey]
Financial statements of NMIH
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

FREE DOWNLOAD
Follow us on:   twitter   twitter   twitter   twitter

VALUATION THEORY       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2017. All rigths reserved.