NI Holdings, Inc. (NODK)

From the record

NI Holdings, Inc.'s filings since 2017 show 3 warning events of 3 kinds: a warning not to rely on past financial statements (8-K item 4.02, the latest 2024-10-28); an auditor change (8-K item 4.01, the latest 2024-06-05); a late-report notice (Form NT 10-K or NT 10-Q, the latest 2017-04-03) (its current reports).

From the record

NI Holdings, Inc.'s 10 filed years say what it did: revenue went from $164 million in fiscal 2016 to $285 million in fiscal 2025, up 6.4% a year; it rose in 7 of 9 years; the deepest fall was 17% from fiscal 2021 to fiscal 2022; net income was positive in 6 of 10 of those years (its annual reports).

From the record

Over the 3 fiscal years to 2025-12-31, NI Holdings, Inc.'s diluted share count shrank about 0.5% a year, and dividends and buybacks returned about 20% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 0 sales and 0 purchases of their own stock on the open market in the year to 2026-09-30 (their Form 4 filings).

From the record

Return on equity: in the fiscal year ended 2025-12-31, NI Holdings, Inc. lost about 4 cents for every dollar of shareholders' money, and gross profitability: its products earned about 14 cents per dollar of everything the company owns. Leverage: it owed about 53 cents per dollar of assets, and net share issuance: its share count shrank 0.5% over the year (the filed statements).

From the record

NI Holdings, Inc.'s standing among 60 graded names in its industry family: revenue of $285 million in fiscal 2025 ranks in the bottom 16% by size; a net margin of -3.7% ranks in the bottom 11%; revenue growth of 2.1% a year over the last 3 filed years ranks in the bottom 14% (its annual reports).

From the record

NI Holdings, Inc.'s leadership, from its insiders' filings and its current reports: the chief executive on the record is Launer, Cindy (Chief Executive Officer, as filed), filing under that title since 2026-01-14, 10 months (bottom 12% of its family); the 11 officers and directors filing in the last fifteen months have been on the record a median of 1.9 years (bottom 1%); 15 officer or director changes were reported on Form 8-K since 2023-11-13, against the 11 people in charge now (bottom 3%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

From the record

NI Holdings, Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $52 million against debt of $2 million leaves 9.7% of its assets as net cash, top 16% of its family; cash from operations less capital spending is -5.4% of revenue (bottom 11%); a gross margin of 24.5% (bottom 17%) (its annual report).

From the record

NI Holdings, Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew 2.1% a year over the last three filed years against 6.4% over all 10, slowing (bottom 12% of its family); the newest year grew -12.4% (bottom 8%); capital spending grew -37.2% a year (bottom 18%) (its annual reports). NI Holdings, Inc. tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.

From the record

NI Holdings, Inc.'s newest year against its own record: revenue of $285 million in fiscal 2025 came in 20.5% below the $358 million its prior three years' pace pointed to (bottom 10% of its family); net income of $10 million against a prior three-year average of $22 million (bottom 40%); a net margin of -3.7% against -7.8% before (top 46%) (its annual reports).