NI Holdings, Inc. (NODK)
NI Holdings, Inc. brought in $259.4M of revenue over the twelve months to September 30, 2026, down 12.9% from a year earlier. Net income was $15M, a net margin of 5.8%. In fiscal 2025 capital spending exceeded operating cash flow by $15.5M. At September 30, 2026 it held $45M in cash against $2.4M of debt. Its latest periodic report to the SEC is the quarterly report (10-Q) filed on November 6, 2026.
Key facts about NI Holdings, Inc.
- Net worth
- NI Holdings, Inc. has a market value (market cap) of $306.5M at the latest share price, and shareholders' equity of $244.5M on its balance sheet at September 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
- Revenue and profit
- In fiscal 2025 revenue was $285.1M (-12.3% year on year), with a net loss of $10.4M. Over the 12 months to September 30, 2026: revenue $259.4M, net income $15M.
- Cash flow
- In fiscal 2025 operations used $15.3M of cash.
- Latest report
- The latest periodic report (quarterly report, 10-Q) was filed with the SEC on November 6, 2026 and covers the period to September 30, 2026. Open on SEC EDGAR
- Next earnings report
- NI Holdings, Inc.'s next report is expected around March 5, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
What NI Holdings, Inc. does
NI Holdings, Inc. is registered with the SEC under industry code SIC 6331 (Fire, Marine & Casualty Insurance). Its shares trade on NASDAQ under the ticker NODK.
Revenue and profit by year
Key figures
| Fiscal year | Revenue | Net income | Diluted EPS | Free cash flow |
|---|---|---|---|---|
| 2025 | $285.1M | -$10.4M | -$0.50 | -$15.5M |
| 2024 | $325.2M | -$6.1M | -$0.29 | $37.5M |
| 2023 | $304M | -$5.5M | -$0.26 | $50.4M |
| 2022 | $267.8M | -$53.1M | -$2.49 | -$16.2M |
| 2021 | $324M | $8.4M | $0.39 | $28.4M |
| 2020 | $306.4M | $40.4M | $1.84 | $50.4M |
Earnings: every quarter and the next report date
Full financial statements: income, balance sheet and cash flow
Where NODK ranks in Finance
Dividends
It paid out $6.7M in cash dividends.
| Fiscal year | Per share | Paid out | Of profit |
|---|---|---|---|
| 2025 | n/a | $6.7M | n/a |
| 2024 | n/a | $8.3M | n/a |
Latest SEC filings
What NI Holdings, Inc. has filed recently, newest first. Each links to the original document on SEC EDGAR.
- November 6, 2026
- November 6, 2026Quarterly report 10-Q · period to September 30, 2026Revenue fell 10% to $68.6M versus the same quarter last year; diluted EPS $0.27 versus -$0.08.
- August 7, 2026
- August 7, 2026Quarterly report 10-Q · period to June 30, 2026Revenue fell 7.7% to $70.2M versus the same quarter last year; diluted EPS $0.01 versus -$0.57.
- May 26, 2026
- May 8, 2026
- May 8, 2026Quarterly report 10-Q · period to March 31, 2026Revenue fell 17% to $59.6M versus the same quarter last year; diluted EPS $0.60 versus $0.31.
- April 23, 2026Passive stake changed SCHEDULE 13G/A
- April 8, 2026
- April 8, 2026Additional proxy material DEFA14A
Insider trades
What the people running NI Holdings, Inc. did with its shares, from the Form 4 filings they must send the SEC within two business days.
No insider trades were reported in the last 90 days.
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| May 20, 2026 | Thomas Callie JeanDirector | Received as pay | 5,015 | - |
| May 20, 2026 | Aasmundstad Eric K.Director | Received as pay | 5,015 | - |
| May 20, 2026 | Mathew PrakashDirector | Received as pay | 5,015 | - |
| May 20, 2026 | Missling Jeffrey R.Director | Received as pay | 5,015 | - |
| May 20, 2026 | Devlin William RussellDirector | Received as pay | 5,015 | - |
| May 20, 2026 | Kaldor Dana JohnDirector | Received as pay | 5,015 | - |
| May 20, 2026 | Stende Dave L.Director | Received as pay | 5,015 | - |
| March 2, 2026 | Duncan Douglas AlanChief Information Officer | Received as pay | 11,100 | - |
Who owns NODK
Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.
5% holders
| Holder | Of class | Filed |
|---|---|---|
| M3 Funds, LLC13G, passive with 4 related filers | 8.04% | April 23, 2026 |
Largest institutional holders
Positions that investment managers reported on Form 13F for the quarter ended June 30, 2026, largest first, with the change on the quarter ended March 31, 2026. Managers file 13F up to 45 days after a quarter ends. 79 managers reported a position.
| Holder | Shares | Change on quarter |
|---|---|---|
| Newtyn Management, LLC | 670,000 | 0 |
| BlackRock, Inc. | 545,925 | +17,123 |
| Dimensional Fund Advisors LP | 360,722 | +19,606 |
| Vanguard Capital Management LLC | 288,170 | -6,628 |
| Geode Capital Management, LLC | 181,574 | +27,871 |
| Morgan Stanley | 181,564 | +143,168 |
| State Street Corp | 134,886 | -3,869 |
| Minerva Advisors LLC | 129,900 | 0 |
| Tcw Group Inc | 126,899 | -83,222 |
| Arbiter Partners Capital Management LLC | 125,184 | +73,792 |
| Orchard Capital Management, LLC | 120,742 | +1,113 |
| Renaissance Technologies LLC | 92,991 | +3,800 |
| Universal- Beteiligungs- und Servicegesellschaft mbH | 70,546 | +1,113 |
| Bridgeway Capital Management, LLC | 66,474 | -14,500 |
| Northern Trust Corp | 54,193 | -8,426 |
| Vanguard Fiduciary Trust Co | 50,770 | +3,721 |
| Caldwell Sutter Capital, Inc. | 44,469 | 0 |
| Vanguard Portfolio Management LLC | 44,468 | +5,127 |
| Boothbay Fund Management, LLC | 42,200 | +11,200 |
| Empowered Funds, LLC | 30,974 | 0 |
Insiders
11 insiders reported holding 338,357 shares in total, about $5.1M at the last price.
| Holder | Shares |
|---|---|
| Launer CindyChief Executive Officer, Director | 90,800 |
| Maki Matthew JamesChief Financial Officer | 61,723 |
| Aasmundstad Eric K.Director | 41,153 |
| Devlin William RussellDirector | 36,739 |
| Missling Jeffrey R.Director | 32,739 |
| Elfstrand Kevin DouglasChief Accounting Officer | 23,243 |
| Mathew PrakashDirector | 16,139 |
| Duncan Douglas AlanChief Information Officer | 11,100 |
| Kaldor Dana JohnDirector | 10,767 |
| Stende Dave L.Director | 8,939 |
Questions about NODK
What does NI Holdings, Inc. do?
NI Holdings, Inc. is a company in the Finance sector, listed on NASDAQ as NODK. Its shares trade on NASDAQ under the ticker NODK.
What is NI Holdings, Inc.'s net worth?
NI Holdings, Inc. has a market value (market cap) of $306.5M at the latest share price, and shareholders' equity of $244.5M on its balance sheet at September 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
Is NI Holdings, Inc. profitable?
Yes. Over the twelve months to September 30, 2026 it reported net income of $15M on revenue of $259.4M, a net margin of 5.8%.
How much revenue does NI Holdings, Inc. make?
Over the twelve months to September 30, 2026 NI Holdings, Inc. reported revenue of $259.4M. That is 12.9% less than a year earlier.
When did NI Holdings, Inc. last report?
Its most recent periodic report is the quarterly report (10-Q) filed on November 6, 2026. It covers the period to September 30, 2026.
When is NI Holdings, Inc.'s next earnings report?
NI Holdings, Inc.'s next report is expected around March 5, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
Similar companies
Compare NODK with
Follow NODK
Get an email when NI Holdings, Inc. files with the SEC: results, executive changes, material agreements and annual reports.
Where the numbers come from
Financial figures are the values NI Holdings, Inc. tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.
Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.