12 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
| FY | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| 2025 | $285M | -$10M | 24.5% | 0.0% | -$15M | $2M | $52M |
| 2024 | $325M | -$6M | 31.6% | 0.0% | $38M | $2M | $51M |
| 2023 | $304M | -$5M | 34.7% | 0.0% | $50M | $2M | $41M |
| 2022 | $268M | -$53M | 11.2% | 0.0% | -$16M | — | $47M |
| 2021 | $324M | $8M | 25.7% | 0.0% | $28M | — | $71M |
| 2020 | $306M | $40M | 37.6% | 0.0% | $50M | — | $101M |
| 2019 | $271M | $26M | 28.3% | 0.0% | $24M | — | $62M |
| 2018 | $212M | $31M | 36.1% | 0.0% | $19M | — | $69M |
| 2017 | $189M | $16M | 30.0% | 0.0% | $17M | — | $28M |
| 2016 | $164M | $5M | 20.9% | 0.0% | $7M | — | $18M |
| 2015 | $146M | $17M | 38.2% | 0.0% | $17M | — | $15M |
| 2014 | $138M | $14M | 0.0% | 0.0% | $10M | — | $22M |
| Quarter | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| Mar '26 | $60M | $13M | 53.3% | 0.0% | -$2M | $2M | $58M |
| Dec '25 | $61M | -$3M | 30.8% | 0.0% | $13M | $2M | $52M |
| Sep '25 | $77M | -$2M | 20.5% | 0.0% | -$45M | $2M | $25M |
| Jun '25 | $76M | -$12M | 8.4% | 0.0% | $6M | — | $57M |
| Mar '25 | $71M | $6M | 40.6% | 0.0% | $10M | — | $57M |
| Dec '24 | $74M | $10M | 52.7% | 0.0% | $22M | $2M | $51M |
| Sep '24 | $89M | -$3M | 20.4% | 0.0% | -$18M | $2M | $39M |
| Jun '24 | $88M | -$20M | 18.0% | 0.0% | $18M | $2M | $51M |
| Mar '24 | $74M | $6M | 39.9% | 0.0% | $17M | $2M | $69M |
| Dec '23 | $79M | $7M | 53.2% | 0.0% | $42M | $2M | $41M |
| Sep '23 | $78M | $231000 | 29.8% | 0.0% | -$11M | $2M | $35M |
| Jun '23 | $81M | -$8M | 23.1% | 0.0% | $24M | $2M | $53M |
| Mar '23 | $82M | -$4M | 23.1% | 0.0% | -$5M | $2M | $61M |
| Dec '22 | $93M | $890000 | 19.2% | 0.0% | -$6M | — | $47M |
| Sep '22 | $89M | -$10M | 11.9% | 0.0% | -$39M | — | $54M |
| Jun '22 | $76M | -$46M | -31.8% | 0.0% | $10M | — | $63M |
| Mar '22 | $66M | $2M | 44.5% | 0.0% | $3M | — | $54M |
| Dec '21 | $85M | $6M | 31.8% | 0.0% | $19M | — | $71M |
| Sep '21 | $85M | -$5M | 19.4% | 0.0% | -$12M | — | $48M |
| Jun '21 | $83M | -$3M | 16.1% | 0.0% | $11M | — | $61M |
How the market has priced NODK against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
Over the past 5 years, NI Holdings, Inc.'s revenue has declined 1.4% per year. These are computed facts, not advice.
As of FY2025, NI Holdings, Inc. reported $2M of total debt against $52M of cash.
In FY2025, gross margin was 24.5%, operating margin —, and net margin -3.7%.
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.