NI Holdings Inc
NI Holdings, Inc., together with its subsidiaries, underwrites property and casualty insurance products in the United States. Its products include private passenger auto, homeowners, farm owners, commercial multi-peril, crop hail, and federal multi-peril crop insurance policies, as well as non-standard automobile insurance policies. The company was founded in 1946 and is headquartered in Fargo, N… Read more
NI Holdings Inc (NODK) - Net Assets
Latest net assets as of September 2025: $243.80 Million USD
Based on the latest financial reports, NI Holdings Inc (NODK) has net assets worth $243.80 Million USD as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($543.82 Million) and total liabilities ($300.01 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $243.80 Million |
| % of Total Assets | 44.83% |
| Annual Growth Rate | 6.07% |
| 5-Year Change | -29.88% |
| 10-Year Change | 63.18% |
| Growth Volatility | 22.37 |
NI Holdings Inc - Net Assets Trend (2014–2024)
This chart illustrates how NI Holdings Inc's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for NI Holdings Inc (2014–2024)
The table below shows the annual net assets of NI Holdings Inc from 2014 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $244.63 Million | -2.30% |
| 2023-12-31 | $250.40 Million | -1.11% |
| 2022-12-31 | $253.21 Million | -27.12% |
| 2021-12-31 | $347.41 Million | -0.42% |
| 2020-12-31 | $348.87 Million | +12.61% |
| 2019-12-31 | $309.80 Million | +12.35% |
| 2018-12-31 | $275.75 Million | +7.90% |
| 2017-12-31 | $255.57 Million | +66.59% |
| 2016-12-31 | $153.42 Million | +2.33% |
| 2015-12-31 | $149.92 Million | +10.48% |
| 2014-12-31 | $135.69 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to NI Holdings Inc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 71.4% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $201.58 Million | 82.40% |
| Common Stock | $230.00K | 0.09% |
| Other Comprehensive Income | $-18.23 Million | -7.45% |
| Other Components | $61.05 Million | 24.96% |
| Total Equity | $244.63 Million | 100.00% |
NI Holdings Inc Competitors by Market Cap
The table below lists competitors of NI Holdings Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Yunsung F&C Co. Ltd.
KQ:372170
|
$67.95 Million |
|
Ramsdens Holdings PLC
PINK:RSDEF
|
$67.96 Million |
|
Zephyr Energy plc
OTCQB:ZPHRF
|
$67.99 Million |
|
Stillwater Critical Minerals Corp
V:PGE
|
$68.01 Million |
|
Audio Pixels Holdings Limited
OTCGREY:ADPXF
|
$67.94 Million |
|
AVATION PLC LS-01
F:9K0
|
$67.88 Million |
|
Marco Polo Marine Ltd.
PINK:MRPMF
|
$67.88 Million |
|
VirnetX Holding Corp Common Stock
NYSE:VHC
|
$67.88 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in NI Holdings Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 247,641,000 to 244,631,000, a change of -3,010,000 (-1.2%).
- Net loss of 6,060,000 reduced equity.
- Share repurchases of 158,000 reduced equity.
- Other comprehensive income increased equity by 3,153,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $-6.06 Million | -2.48% |
| Share Repurchases | $158.00K | -0.06% |
| Other Comprehensive Income | $3.15 Million | +1.29% |
| Other Changes | $55.00K | +0.02% |
| Total Change | $- | -1.22% |
Book Value vs Market Value Analysis
This analysis compares NI Holdings Inc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.13x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 2.26x to 1.13x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2014-12-31 | $5.81 | $13.15 | x |
| 2015-12-31 | $6.44 | $13.15 | x |
| 2016-12-31 | $6.59 | $13.15 | x |
| 2017-12-31 | $11.21 | $13.15 | x |
| 2018-12-31 | $12.17 | $13.15 | x |
| 2019-12-31 | $13.76 | $13.15 | x |
| 2020-12-31 | $15.69 | $13.15 | x |
| 2021-12-31 | $15.85 | $13.15 | x |
| 2022-12-31 | $11.76 | $13.15 | x |
| 2023-12-31 | $11.70 | $13.15 | x |
| 2024-12-31 | $11.60 | $13.15 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently NI Holdings Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -2.48%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -1.86%
- • Asset Turnover: 0.62x
- • Equity Multiplier: 2.15x
- Recent ROE (-2.48%) is below the historical average (3.64%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2014 | 10.41% | 10.00% | 0.56x | 1.87x | $540.20K |
| 2015 | 11.91% | 11.98% | 0.56x | 1.76x | $2.80 Million |
| 2016 | 3.04% | 2.78% | 0.59x | 1.86x | $-10.44 Million |
| 2017 | 6.34% | 8.45% | 0.50x | 1.49x | $-9.25 Million |
| 2018 | 11.41% | 14.64% | 0.46x | 1.68x | $3.83 Million |
| 2019 | 8.62% | 9.75% | 0.53x | 1.66x | $-4.23 Million |
| 2020 | 11.73% | 13.18% | 0.50x | 1.79x | $5.96 Million |
| 2021 | 2.45% | 2.60% | 0.50x | 1.90x | $-25.90 Million |
| 2022 | -21.16% | -19.83% | 0.44x | 2.45x | $-78.19 Million |
| 2023 | -2.21% | -1.80% | 0.49x | 2.49x | $-30.24 Million |
| 2024 | -2.48% | -1.86% | 0.62x | 2.15x | $-30.52 Million |
Industry Comparison
This section compares NI Holdings Inc's net assets metrics with peer companies in the Insurance - Property & Casualty industry.
Industry Context
- Industry: Insurance - Property & Casualty
- Average net assets among peers: $3,948,110,200
- Average return on equity (ROE) among peers: 16.04%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| NI Holdings Inc (NODK) | $243.80 Million | 10.41% | 1.23x | $67.95 Million |
| American Coastal Insurance Corp (ACIC) | $45.29 Million | -2.04% | 3.72x | $250.00 Million |
| American Financial Group Inc (AFG) | $1.95 Billion | -0.76% | 7.91x | $8.54 Billion |
| AmTrust Financial Services Inc Pref Series A (AFSIA) | $118.83 Million | 11.87% | 3.19x | $1.69 Billion |
| Aspen Insurance Holdings Limited (AHL) | $2.39 Billion | 15.82% | 1.78x | $14.67 Million |
| American Integrity Insurance Group, Inc. (AII) | $337.02 Million | 29.56% | 2.63x | $227.08 Million |
| Assurant Inc (AIZ) | $3.37 Billion | 2.66% | 6.24x | $10.74 Billion |
| The Allstate Corporation (ALL) | $30.61 Billion | 33.59% | 2.91x | $53.61 Billion |
| Admiral Group plc (AMIGF) | $68.95 Million | 44.87% | 4.47x | $10.33 Billion |
| Ategrity Specialty Insurance Company Holdings (ASIC) | $398.81 Million | 11.81% | 1.82x | $155.46 Million |
| Bowhead Specialty Holdings Inc. (BOW) | $192.08 Million | 13.04% | 4.35x | $707.67 Million |