Ni Hldgs Inc Financials
This page shows Ni Hldgs Inc (NODK) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 12 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Ni Hldgs Inc's revenue declined 12.3% year-over-year, from $325.2M to $285.1M. This contraction results in a growth score of 13/100.
Ni Hldgs Inc carries a low D/E ratio of 0.01, meaning only $0.01 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
While Ni Hldgs Inc generated -$15.3M in operating cash flow, capex of $217K consumed most of it, leaving -$15.5M in free cash flow. This results in a low score of 11/100, reflecting heavy capital investment rather than weak cash generation.
Ni Hldgs Inc generates a -4.3% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 1/100. This is down from -2.5% the prior year.
Ni Hldgs Inc passes 1 of 9 financial strength tests. No profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Ni Hldgs Inc generates $1.47 in operating cash flow (-$15.3M OCF vs -$10.4M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Key Financial Metrics
Earnings & Revenue
Ni Hldgs Inc generated $285.1M in revenue in fiscal year 2025. This represents a decrease of 12.3% from the prior year.
Ni Hldgs Inc reported -$10.4M in net income in fiscal year 2025. This represents a decrease of 71.8% from the prior year.
Ni Hldgs Inc earned $-0.50 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 72.4% from the prior year.
Cash & Balance Sheet
Ni Hldgs Inc generated -$15.5M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 141.3% from the prior year.
Ni Hldgs Inc held $51.7M in cash against $2.4M in long-term debt as of fiscal year 2025.
Ni Hldgs Inc had 21M shares outstanding in fiscal year 2025. This represents a decrease of 0.6% from the prior year.
Margins & Returns
Ni Hldgs Inc's gross margin was 24.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 7.0 percentage points from the prior year.
Ni Hldgs Inc's net profit margin was -3.6% in fiscal year 2025, showing the share of revenue converted to profit. This is down 1.8 percentage points from the prior year.
Ni Hldgs Inc's ROE was -4.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 1.8 percentage points from the prior year.
Capital Allocation
Ni Hldgs Inc invested $217K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 78.1% from the prior year.
NODK Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $61.0M-20.3% | $76.6M+0.7% | $76.1M+6.5% | $71.4M-3.4% | $73.9M-16.9% | $89.0M+1.3% | $87.8M+17.9% | $74.5M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | $18.8M+19.6% | $15.7M+145.5% | $6.4M-77.9% | $29.0M-25.6% | $38.9M+114.2% | $18.2M+14.9% | $15.8M-46.8% | $29.7M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $260K+235.4% | -$192K+94.1% | -$3.3M-353.9% | $1.3M-67.7% | $4.0M+631.3% | -$751K+52.8% | -$1.6M-183.9% | $1.9M |
| Net Income | -$3.2M-89.4% | -$1.7M+86.2% | -$12.1M-286.5% | $6.5M-34.4% | $9.8M+464.1% | -$2.7M+86.2% | -$19.6M-405.7% | $6.4M |
| EPS (Diluted) | N/A | $-0.08+86.0% | $-0.57-283.9% | $0.31 | N/A | $-0.13+86.2% | $-0.94-413.3% | $0.30 |
NODK Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $506.0M-7.0% | $543.8M-12.3% | $620.1M+18.0% | $525.4M-0.2% | $526.5M-6.0% | $559.9M-1.9% | $571.0M-15.3% | $674.5M |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash & Equivalents | $51.7M+109.8% | $24.7M-56.6% | $56.8M-0.7% | $57.2M+12.3% | $50.9M+30.2% | $39.1M-23.9% | $51.4M-25.0% | $68.5M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $15.6M-12.1% | $17.8M+56.7% | $11.3M-1.2% | $11.5M-13.2% | $13.2M-32.6% | $19.6M+42.1% | $13.8M-0.9% | $13.9M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | $2.6M0.0% | $2.6M0.0% | $2.6M |
| Total Liabilities | $265.7M-11.4% | $300.0M-20.4% | $376.7M+38.8% | $271.4M-3.7% | $281.9M-11.5% | $318.5M-4.9% | $334.9M-20.0% | $418.7M |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Long-Term Debt | $2.4M0.0% | $2.4M | N/A | N/A | $2.4M0.0% | $2.4M0.0% | $2.4M0.0% | $2.4M |
| Total Equity | $240.3M-1.4% | $243.8M+0.2% | $243.3M-4.2% | $254.0M+3.8% | $244.6M+1.4% | $241.4M+2.2% | $236.1M-7.7% | $255.8M |
| Retained Earnings | $191.1M-1.6% | $194.2M-0.9% | $195.9M-5.8% | $208.0M+3.2% | $201.6M+5.1% | $191.7M-1.4% | $194.4M-11.0% | $218.5M |
NODK Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $13.2M+129.6% | -$44.8M-799.9% | $6.4M-35.3% | $9.9M-54.5% | $21.7M+220.8% | -$18.0M-199.4% | $18.1M+8.6% | $16.7M |
| Capital Expenditures | $0-100.0% | $35K-78.4% | $162K+710.0% | $20K-90.7% | $214K+45.6% | $147K-74.6% | $578K+1011.5% | $52K |
| Free Cash Flow | $13.2M+129.5% | -$44.8M-818.6% | $6.2M-36.8% | $9.9M-54.1% | $21.5M+218.7% | -$18.1M-203.5% | $17.5M+5.5% | $16.6M |
| Investing Cash Flow | $15.2M+9.7% | $13.9M+304.3% | -$6.8M-96.2% | -$3.5M+64.9% | -$9.9M-208.4% | $9.1M+2380.4% | $367K+108.9% | -$4.1M |
| Financing Cash Flow | -$1.4M-16.4% | -$1.2M-3643.8% | -$32K+79.6% | -$157K-423.3% | -$30K+99.1% | -$3.4M-14112.5% | -$24K+86.5% | -$178K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
NODK Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 30.8%+10.3pp | 20.5%+12.1pp | 8.4%-32.1pp | 40.6%-12.1pp | 52.7%+32.2pp | 20.4%+2.4pp | 18.0%-21.9pp | 39.9% |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | -5.2%-3.0pp | -2.2%+13.7pp | -15.8%-24.9pp | 9.0%-4.3pp | 13.3%+16.4pp | -3.0%+19.3pp | -22.4%-31.0pp | 8.6% |
| Return on Equity | -1.3%-0.6pp | -0.7%+4.3pp | -5.0%-7.5pp | 2.5%-1.5pp | 4.0%+5.2pp | -1.1%+7.2pp | -8.3%-10.8pp | 2.5% |
| Return on Assets | -0.6%-0.3pp | -0.3%+1.6pp | -1.9%-3.2pp | 1.2%-0.6pp | 1.9%+2.4pp | -0.5%+3.0pp | -3.4%-4.4pp | 0.9% |
| Current Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt-to-Equity | 0.010.0 | 0.01-1.5 | 1.55+0.5 | 1.07+1.1 | 0.010.0 | 0.010.0 | 0.010.0 | 0.01 |
| FCF Margin | 21.7%+80.3pp | -58.6%-66.8pp | 8.2%-5.6pp | 13.8%-15.3pp | 29.1%+49.5pp | -20.4%-40.3pp | 20.0%-2.3pp | 22.3% |
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Frequently Asked Questions
What is Ni Hldgs Inc's annual revenue?
Ni Hldgs Inc (NODK) reported $285.1M in total revenue for fiscal year 2025. This represents a -12.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Ni Hldgs Inc's revenue growing?
Ni Hldgs Inc (NODK) revenue declined by 12.3% year-over-year, from $325.2M to $285.1M in fiscal year 2025.
Is Ni Hldgs Inc profitable?
No, Ni Hldgs Inc (NODK) reported a net income of -$10.4M in fiscal year 2025, with a net profit margin of -3.6%.
How much debt does Ni Hldgs Inc have?
As of fiscal year 2025, Ni Hldgs Inc (NODK) had $51.7M in cash and equivalents against $2.4M in long-term debt.
What is Ni Hldgs Inc's gross margin?
Ni Hldgs Inc (NODK) had a gross margin of 24.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Ni Hldgs Inc's net profit margin?
Ni Hldgs Inc (NODK) had a net profit margin of -3.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Ni Hldgs Inc's return on equity (ROE)?
Ni Hldgs Inc (NODK) has a return on equity of -4.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Ni Hldgs Inc's free cash flow?
Ni Hldgs Inc (NODK) generated -$15.5M in free cash flow during fiscal year 2025. This represents a -141.3% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Ni Hldgs Inc's operating cash flow?
Ni Hldgs Inc (NODK) generated -$15.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Ni Hldgs Inc's total assets?
Ni Hldgs Inc (NODK) had $506.0M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Ni Hldgs Inc's capital expenditures?
Ni Hldgs Inc (NODK) invested $217K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Ni Hldgs Inc's debt-to-equity ratio?
Ni Hldgs Inc (NODK) had a debt-to-equity ratio of 0.01 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Ni Hldgs Inc's return on assets (ROA)?
Ni Hldgs Inc (NODK) had a return on assets of -2.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Ni Hldgs Inc's cash runway?
Based on fiscal year 2025 data, Ni Hldgs Inc (NODK) had $51.7M in cash against an annual operating cash burn of $15.3M. This gives an estimated cash runway of approximately 41 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Ni Hldgs Inc's Piotroski F-Score?
Ni Hldgs Inc (NODK) has a Piotroski F-Score of 1 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Ni Hldgs Inc's earnings high quality?
Ni Hldgs Inc (NODK) has an earnings quality ratio of 1.47x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Ni Hldgs Inc?
Ni Hldgs Inc (NODK) scores 31 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.