📊 NODK Key Takeaways
Is NI Holdings, Inc. (NODK) a Good Investment?
NI Holdings is experiencing severe operational distress with negative profitability across all key metrics, declining revenue (-12.3% YoY), and persistent cash burn. The company generated -$15.3M in operating cash flow while maintaining minimal debt, indicating fundamental business model deterioration rather than temporary leverage issues. Negative margins (-4.3% operating, -3.7% net) and negative ROE/ROA suggest the core underwriting operations are unprofitable.
Profitability has deteriorated with double-digit revenue contraction, negative operating and net margins, and negative free cash flow, indicating weak core operations. While leverage is minimal and liquidity appears solid, fundamentals point to ongoing underwriting and expense pressure; until sustained profitability and positive cash generation return, risk-reward is unfavorable.
Why Buy NI Holdings, Inc. Stock? NODK Key Strengths
- Strong balance sheet with $240.3M equity and minimal leverage (0.01x debt/equity ratio)
- Adequate liquidity reserves with $51.7M cash and equivalents
- Low long-term debt burden at only $2.4M provides financial flexibility
- Very low leverage (0.01x D/E) minimizing financial risk
- Solid cash position relative to scale ($51.7M)
- Strong equity base ($240M) supporting solvency
NODK Stock Risks: NI Holdings, Inc. Investment Risks
- Severe profitability crisis with negative operating income (-$12.3M) and negative net income (-$10.4M)
- Deteriorating cash generation with negative operating cash flow (-$15.3M) and negative free cash flow (-$15.5M)
- Revenue contraction of 12.3% YoY combined with margin compression suggests loss of competitive positioning or underwriting discipline in the insurance business
- Negative ROE (-4.3%) indicates shareholder value destruction and unsustainable business operations
- Persistent underwriting/operating losses driving negative margins
- Revenue decline (-12.3% YoY) suggesting pricing/competitiveness issues
- Negative operating and free cash flow reducing financial flexibility
Key Metrics to Watch
- Operating cash flow trend and path to profitability
- Revenue stabilization and gross margin recovery
- Combined ratio or underwriting profitability metrics for insurance operations
- Cash burn rate relative to liquidity reserves
- Combined ratio (underwriting margin)
- Operating cash flow trend
NI Holdings, Inc. (NODK) Financial Metrics & Key Ratios
💡 AI Analyst Insight
The current ratio below 1.0x warrants monitoring of short-term liquidity.
NODK Profit Margin, ROE & Profitability Analysis
NODK vs Finance Sector: How NI Holdings, Inc. Compares
How NI Holdings, Inc. compares to Finance sector averages
Sector benchmarks are approximate industry averages. Actual sector performance may vary.
Is NI Holdings, Inc. Stock Overvalued? NODK Valuation Analysis 2026
Based on fundamental analysis, NI Holdings, Inc. has mixed fundamental signals relative to the Finance sector in 2026.
Note: This is a fundamental analysis based on SEC filings. For P/E ratio, price targets, and market-based valuation, consult financial data providers. This is not investment advice.
NI Holdings, Inc. Balance Sheet: NODK Debt, Cash & Liquidity
NODK Revenue & Earnings Growth: 5-Year Financial Trend
5-Year Trend Summary: NI Holdings, Inc.'s revenue has declined by 72% over the 5-year period, indicating business contraction. The most recent EPS of $-0.26 indicates the company is currently unprofitable.
NODK Revenue Growth, EPS Growth & YoY Performance
NODK Quarterly Earnings & Performance
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q3 2025 | $76.6M | -$1.7M | $-0.08 |
| Q2 2025 | $76.1M | -$5.6M | $-0.27 |
| Q1 2025 | $71.4M | $6.4M | $0.30 |
| Q3 2024 | $78.0M | $231.0K | $0.01 |
| Q2 2024 | $81.1M | -$8.1M | $-0.38 |
| Q1 2024 | $81.6M | -$4.2M | $-0.20 |
| Q3 2023 | $89.2M | $231.0K | $0.01 |
| Q2 2023 | $415.0K | -$8.1M | $-0.38 |
Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.
NI Holdings, Inc. Dividends, Buybacks & Capital Allocation
NODK SEC Filings: Latest 10-K & 10-Q Analysis
Access official SEC EDGAR filings for NI Holdings, Inc. (CIK: 0001681206)
📋 Recent SEC Filings
❓ Frequently Asked Questions about NODK
What is the AI rating for NODK?
NI Holdings, Inc. (NODK) has a Combined AI Rating of SELL from Claude (STRONG SELL) and ChatGPT (SELL) with 78% combined confidence, based on fundamental analysis of SEC EDGAR filings.
What are NODK's key strengths?
Claude: Strong balance sheet with $240.3M equity and minimal leverage (0.01x debt/equity ratio). Adequate liquidity reserves with $51.7M cash and equivalents. ChatGPT: Very low leverage (0.01x D/E) minimizing financial risk. Solid cash position relative to scale ($51.7M).
What are the risks of investing in NODK?
Claude: Severe profitability crisis with negative operating income (-$12.3M) and negative net income (-$10.4M). Deteriorating cash generation with negative operating cash flow (-$15.3M) and negative free cash flow (-$15.5M). ChatGPT: Persistent underwriting/operating losses driving negative margins. Revenue decline (-12.3% YoY) suggesting pricing/competitiveness issues.
What is NODK's revenue and growth?
NI Holdings, Inc. reported revenue of $285.1M.
Does NODK pay dividends?
NI Holdings, Inc. pays dividends, with $6.7M distributed to shareholders in the trailing twelve months.
Where can I find NODK SEC filings?
Official SEC filings for NI Holdings, Inc. (CIK: 0001681206) including 10-K, 10-Q, and 8-K reports are available on SEC EDGAR.
What is NODK's EPS?
NI Holdings, Inc. has a diluted EPS of $-0.50.
How is the AI analysis conducted?
Two independent AI systems — Claude (Anthropic) and ChatGPT (OpenAI) — analyze SEC EDGAR filings including 10-K annual reports and 10-Q quarterly reports. Each AI evaluates financial health, profitability ratios, balance sheet strength, and growth metrics. The combined rating reflects both perspectives for balanced insights.
Is NODK a good stock to buy right now?
Based on our AI fundamental analysis in April 2026, NI Holdings, Inc. has a SELL rating with 78% confidence. Review the strengths and risks sections above before making a decision. This is not investment advice.
Is NODK stock overvalued or undervalued?
Valuation metrics for NODK: ROE of -4.3% (sector avg: 12%), net margin of -3.7% (sector avg: 25%). Compare these metrics with sector averages to assess valuation.
Should I buy NODK stock in 2026?
Our dual AI analysis gives NI Holdings, Inc. a combined SELL rating for 2026. Revenue is data pending, with profitability at or below sector average. Always conduct your own research.
What is NODK's free cash flow?
NI Holdings, Inc.'s operating cash flow is $-15.3M, with capital expenditures of $217.0K. FCF margin is -5.4%.
How does NODK compare to other Finance stocks?
Vs Finance sector averages: Net margin -3.7% (avg: 25%), ROE -4.3% (avg: 12%), current ratio N/A (avg: 1.2).