NI Holdings (NASDAQ:NODK) Full Year 2024 Results

Key Financial Results

• Revenue: US$325.2m (up 7.0% from FY 2023).
• Net income: US$6.60m (down 66% from FY 2023).
• Profit margin: 2.0% (down from 6.4% in FY 2023).
• EPS: US$0.32 (down from US$0.93 in FY 2023).

NODK Profitability Indicators

• Combined ratio: 100.7% (up from 97.0% in FY 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

The primary driver behind last 12 months revenue was the Non-Standard Auto segment contributing a total revenue of US$96.4m (30% of total revenue). Notably, cost of sales worth US$312.4m amounted to 96% of total revenue thereby underscoring the impact on earnings. The most substantial expense, totaling US$6.17m were related to Non-Operating costs. This indicates that a significant portion of the company's costs is related to non-core activities. Explore how NODK's revenue and expenses shape its earnings.

NI Holdings shares are up 4.9% from a week ago.

Risk Analysis

Be aware that NI Holdings is showing 3 warning signs in our investment analysis and 1 of those can't be ignored...

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.