NMI Holdings, Inc.
1.28xPrice / tangible book
Market cap
$3.32B
Tangible equity
$2.59B
Price / tangible book
1.28x
Price / book
1.28x
Return on equity
15.0%
Return on assets
10.1%
Efficiency ratio
—
Compare price, profitability, solvency, and SEC-reported financials side by side—before deciding which assumptions deserve a closer look.
Decision snapshot: NMIH stock price at discount vs FCNCA $44.10 current versus $65.76 implied using P/E multiple.
Quick read
Each company valued on the other's multiple, then compared with the market price.
Implied fair value · at FCNCA's multiple
Implied fair value · at NMIH's multiple
Snapshot Sep 4, 4:00 PM ET
Metric by metric
Filter, sort, and scan the equity metrics that matter most for banks: book value, tangible book, returns, and operating efficiency.
Multiple premium
Multiple premium
Profitability edge
Asset efficiency edge
Lower is better
Statements
Bank-focused income statement and equity metrics aligned to the reporting windows.
SEC periods: NMIH FY 2025 (ended Dec 31, 2025) · FCNCA FY 2025 (ended Dec 31, 2025).
Trendline
Five fiscal years of revenue, earnings, and margins before underwriting a re-rating.
Price framework
Tangible book and profitability anchor a bank, not enterprise value.
Deposits and cash-like balances distort enterprise value for banks, so this section reads equity value, tangible book and profitability instead.
Price / tangible book
Market cap
$3.32B
Tangible equity
$2.59B
Price / tangible book
1.28x
Price / book
1.28x
Return on equity
15.0%
Return on assets
10.1%
Efficiency ratio
—
Price / tangible book
Market cap
$25.90B
Tangible equity
$21.70B
Price / tangible book
1.19x
Price / book
1.16x
Return on equity
9.9%
Return on assets
1.0%
Efficiency ratio
41.8%
Price framework
The same filing-backed model used on each company's valuation page, with company-specific inputs and calculated scenarios.
NMI Holdings, Inc. · implied price per share
Debt and bridge-cash inputs are required to translate enterprise value into equity value.
FIRST CITIZENS BANCSHARES INC /DE/ · implied price per share
Bank model off — standard DCF modelling is disabled for financial institutions.
Balance sheet health
Financial health checks to separate durable balance sheets from potential value traps.
Financial strength on a 0–9 scale.
Bankruptcy-risk signal from balance sheet and earnings power.
Not enough data to score either balance sheet.
Debt / equity
Total debt against shareholders' equity
-0.08x
1.62x
Total debt
Interest-bearing obligations outstanding
-$214.35M
$36.01B
Comparable set
Where the pair sits against the wider banking comparable set.
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