` Comparison: NMIH vs MTG - Alpha Spread

NMIH
vs
MTG

Over the past 12 months, NMIH has underperformed MTG, delivering a return of -3% compared to the MTG's +3% growth.

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NMIH
MTG
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Stocks Compared:
NMIH MTG
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Valuation Comparison

NMIH Intrinsic Value
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MTG Intrinsic Value
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Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
NMI Holdings Inc
NASDAQ:NMIH
37.74 USD
MGIC Investment Corp
NYSE:MTG
26.27 USD
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Valuation Scenario:
Bear Case
Base Case
Bull Case

Growth Comparison

Growth Over Time
NMIH, MTG

NMIH
MTG
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Revenue
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Company LTM Historical Growth Growth Streak % Positive Years Max Drawdown Volatility Forecasted Growth
3 Years 5 Years 10 Years 1 Year 3 Years
NMI Holdings Inc
Revenue
MGIC Investment Corp
Revenue

All metrics are calculated based on data from the last 10 years.

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Profitability Comparison

Free Cash Flow
NMIH, MTG

NMIH
MTG
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Free Cash Flow
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Company LTM Average Historical Growth FCF Margin Conversion
3 Years 5 Years 3 Years 5 Years 10 Years
NMI Holdings Inc
NASDAQ:NMIH
FCF is not applicable for financial companies
MGIC Investment Corp
NYSE:MTG
FCF is not applicable for financial companies
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What is Free Cash Flow?

Gross Margin

NMIH
MTG
LTM 3Y Avg 5Y Avg 10Y Avg
NMI Holdings Inc
Not applicable for financial companies
MGIC Investment Corp
Not applicable for financial companies

Operating Margin

NMIH
MTG
LTM 3Y Avg 5Y Avg 10Y Avg
NMI Holdings Inc
Not applicable for financial companies
MGIC Investment Corp
Not applicable for financial companies

Net Margin

NMIH
55%
MTG
62%

FCF Margin

NMIH
MTG
LTM 3Y Avg 5Y Avg 10Y Avg
NMI Holdings Inc
Not applicable for financial companies
MGIC Investment Corp
Not applicable for financial companies

ROE

NMIH
16.2%
MTG
14.4%

ROA

NMIH
10.8%
MTG
11.3%

ROIC

NMIH
MTG
LTM 3Y Avg 5Y Avg 10Y Avg
NMI Holdings Inc
Not applicable for financial companies
MGIC Investment Corp
Not applicable for financial companies

ROCE

NMIH
MTG
LTM 3Y Avg 5Y Avg 10Y Avg
NMI Holdings Inc
Not applicable for financial companies
MGIC Investment Corp
Not applicable for financial companies

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
NMIH, MTG

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NMIH
MTG
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Performance Gap
NMIH, MTG

Performance Gap Between NMIH and MTG
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Performance By Year
NMIH, MTG

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NMIH
MTG
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