Ni Hldgs Inc Financials

NODK

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows Ni Hldgs Inc (NODK) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 11 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

Piotroski F-Score Weak

3/9

Ni Hldgs Inc passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.

Earnings Quality Mixed

-6.35x

For every $1 of reported earnings, Ni Hldgs Inc generates $-6.35 in operating cash flow ($38.5M OCF vs -$6.1M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Key Financial Metrics

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Revenue

$325.2M

YoY+7.0%

5Y CAGR+3.7%

10Y CAGR+9.0%

Ni Hldgs Inc generated $325.2M in revenue in fiscal year 2024. This represents an increase of 7.0% from the prior year.

EBITDA

N/A

Free Cash Flow

$37.5M

YoY-25.5%

5Y CAGR+9.0%

10Y CAGR+14.4%

Ni Hldgs Inc generated $37.5M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 25.5% from the prior year.

Net Income

-$6.1M

YoY-10.7%

Ni Hldgs Inc reported -$6.1M in net income in fiscal year 2024. This represents a decrease of 10.7% from the prior year.

EPS (Diluted)

$-0.29

YoY-11.5%

Ni Hldgs Inc earned $-0.29 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 11.5% from the prior year.

Cash & Debt

$50.9M

YoY+24.1%

5Y CAGR-3.9%

10Y CAGR+8.9%

Ni Hldgs Inc held $50.9M in cash against $2.4M in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

21M

YoY+0.4%

5Y CAGR-1.3%

Ni Hldgs Inc had 21M shares outstanding in fiscal year 2024. This represents an increase of 0.4% from the prior year.

Gross Margin

31.6%

YoY-3.2pp

5Y CAGR+3.2pp

Ni Hldgs Inc's gross margin was 31.6% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is down 3.2 percentage points from the prior year.

Operating Margin

N/A

Net Margin

-1.9%

YoY-0.1pp

5Y CAGR-11.6pp

10Y CAGR-11.9pp

Ni Hldgs Inc's net profit margin was -1.9% in fiscal year 2024, showing the share of revenue converted to profit. This is down 0.1 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$991K

YoY+49.9%

5Y CAGR-5.1%

10Y CAGR+4.8%

Ni Hldgs Inc invested $991K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 49.9% from the prior year.

NODK Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$325.2M+7.0%	$304.0M+13.5%	$267.8M-17.3%	$324.0M+5.8%	$306.4M+13.1%	$270.8M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	$102.6M-2.8%	$105.6M+252.1%	$30.0M-64.0%	$83.2M-27.8%	$115.2M+50.1%	$76.7M
R&D Expenses	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
Operating Income	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
Income Tax	$3.5M+395.1%	$716K+105.0%	-$14.2M-577.2%	$3.0M-74.1%	$11.5M+56.9%	$7.3M
Net Income	-$6.1M-10.7%	-$5.5M+89.7%	-$53.1M-730.9%	$8.4M-79.2%	$40.4M+53.0%	$26.4M
EPS (Diluted)	$-0.29-11.5%	$-0.26+89.6%	$-2.49-738.5%	$0.39-78.8%	$1.84+54.6%	$1.19

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	$76.6M+0.7%	$76.1M+6.5%	$71.4M-3.4%	$73.9M-15.8%	$87.8M+17.9%	$74.5M+17.6%	$63.4M-18.8%	$78.0M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	$15.7M+145.5%	$6.4M-77.9%	$29.0M-25.6%	$38.9M+146.2%	$15.8M-46.8%	$29.7M-33.6%	$44.8M+92.5%	$23.3M
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	-$192K+94.1%	-$3.3M-353.9%	$1.3M-67.7%	$4.0M+350.6%	-$1.6M-183.9%	$1.9M-13.7%	$2.2M+928.0%	$214K
Net Income	-$1.7M+86.2%	-$12.1M-286.5%	$6.5M-34.4%	$9.8M+150.2%	-$19.6M-405.7%	$6.4M-3.1%	$6.6M+2768.0%	$231K
EPS (Diluted)	$-0.08+86.0%	$-0.57-283.9%	$0.31-35.4%	$0.48+151.1%	$-0.94-413.3%	$0.30-3.2%	$0.31+3000.0%	$0.01

NODK Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$526.5M-19.6%	$654.9M+6.6%	$614.2M-5.8%	$651.8M+5.5%	$617.6M+21.5%	$508.2M
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$50.9M+24.1%	$41.0M-12.7%	$47.0M-33.4%	$70.6M-30.1%	$101.1M+62.7%	$62.1M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$13.2M-24.0%	$17.4M+12.6%	$15.5M	N/A	$6.6M-53.3%	$14.2M
Goodwill	N/A	$2.6M-72.0%	$9.4M0.0%	$9.4M0.0%	$9.4M+257.1%	$2.6M
Total Liabilities	$281.9M-30.3%	$404.5M+12.0%	$361.0M+18.6%	$304.4M+13.3%	$268.7M+35.5%	$198.4M
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$2.4M0.0%	$2.4M	N/A	N/A	N/A	N/A
Total Equity	$244.6M-2.3%	$250.4M-1.1%	$253.2M-27.1%	$347.4M-0.4%	$348.9M+12.6%	$309.8M
Retained Earnings	$201.6M-3.3%	$208.4M-2.7%	$214.1M-19.9%	$267.2M+3.3%	$258.7M+18.4%	$218.5M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$543.8M-12.3%	$620.1M+18.0%	$525.4M-0.2%	$526.5M-7.8%	$571.0M-15.3%	$674.5M+3.0%	$654.9M-0.3%	$657.1M
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$24.7M-56.6%	$56.8M-0.7%	$57.2M+12.3%	$50.9M-0.9%	$51.4M-25.0%	$68.5M+67.0%	$41.0M+18.9%	$34.5M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$17.8M+56.7%	$11.3M-1.2%	$11.5M-13.2%	$13.2M-4.1%	$13.8M-0.9%	$13.9M-20.1%	$17.4M+20.2%	$14.5M
Goodwill	N/A	N/A	N/A	$2.6M0.0%	$2.6M0.0%	$2.6M0.0%	$2.6M-72.0%	$9.4M
Total Liabilities	$300.0M-20.4%	$376.7M+38.8%	$271.4M-3.7%	$281.9M-15.8%	$334.9M-20.0%	$418.7M+3.5%	$404.5M-5.3%	$427.2M
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$2.4M	N/A	N/A	$2.4M0.0%	$2.4M0.0%	$2.4M0.0%	$2.4M0.0%	$2.4M
Total Equity	$243.8M+0.2%	$243.3M-4.2%	$254.0M+3.8%	$244.6M+3.6%	$236.1M-7.7%	$255.8M+2.2%	$250.4M+8.9%	$229.9M
Retained Earnings	$194.2M-0.9%	$195.9M-5.8%	$208.0M+3.2%	$201.6M+3.7%	$194.4M-11.0%	$218.5M+4.8%	$208.4M+3.3%	$201.7M

NODK Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$38.5M-24.5%	$51.0M+433.6%	-$15.3M-152.4%	$29.2M-42.8%	$51.0M+98.8%	$25.7M
Capital Expenditures	$991K+49.9%	$661K-24.7%	$878K+18.8%	$739K+20.0%	$616K-52.2%	$1.3M
Free Cash Flow	$37.5M-25.5%	$50.4M+411.4%	-$16.2M-156.9%	$28.4M-43.6%	$50.4M+106.7%	$24.4M
Investing Cash Flow	-$4.5M+48.5%	-$8.8M-135.2%	$25.0M+152.0%	-$48.2M-24175.5%	$200K+100.7%	-$30.5M
Financing Cash Flow	-$3.6M+51.2%	-$7.5M+59.2%	-$18.3M-59.4%	-$11.5M+6.5%	-$12.3M-505.7%	-$2.0M
Dividends Paid	$8.3M	N/A	N/A	$21.5M-0.6%	$21.6M+13.9%	$19.0M
Share Buybacks	N/A	N/A	$4.2M-3.2%	$4.3M-64.7%	$12.2M+509.9%	$2.0M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	-$44.8M-799.9%	$6.4M-35.3%	$9.9M-54.5%	$21.7M+20.1%	$18.1M+8.6%	$16.7M-59.9%	$41.6M+498.6%	-$10.4M
Capital Expenditures	$35K-78.4%	$162K+710.0%	$20K-90.7%	$214K-63.0%	$578K+1011.5%	$52K+151.5%	-$101K-188.6%	$114K
Free Cash Flow	-$44.8M-818.6%	$6.2M-36.8%	$9.9M-54.1%	$21.5M+22.8%	$17.5M+5.5%	$16.6M-59.9%	$41.5M+493.3%	-$10.5M
Investing Cash Flow	$13.9M+304.3%	-$6.8M-96.2%	-$3.5M+64.9%	-$9.9M-2788.8%	$367K+108.9%	-$4.1M+39.0%	-$6.8M-116.4%	-$3.1M
Financing Cash Flow	-$1.2M-3643.8%	-$32K+79.6%	-$157K-423.3%	-$30K-25.0%	-$24K+86.5%	-$178K-1383.3%	-$12K+99.7%	-$4.1M
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	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	31.6%-3.2pp	34.7%+23.5pp	11.2%-14.5pp	25.7%-11.9pp	37.6%+9.3pp	28.3%
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	-1.9%-0.1pp	-1.8%+18.0pp	-19.8%-22.4pp	2.6%-10.6pp	13.2%+3.4pp	9.8%
Return on Equity	N/A	N/A	N/A	2.4%-9.2pp	11.6%+3.1pp	8.5%
Return on Assets	-1.1%-0.3pp	-0.8%+7.8pp	-8.6%-9.9pp	1.3%-5.3pp	6.5%+1.3pp	5.2%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.010.0	0.01-1.4	1.43+0.5	0.88+0.1	0.77+0.1	0.64
FCF Margin	11.5%-5.0pp	16.6%+22.6pp	-6.0%-14.8pp	8.8%-7.7pp	16.4%+7.5pp	9.0%

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Gross Margin	20.5%+12.1pp	8.4%-32.1pp	40.6%-12.1pp	52.7%+34.6pp	18.0%-21.9pp	39.9%-30.8pp	70.7%+40.9pp	29.8%
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	-2.2%+13.7pp	-15.8%-24.9pp	9.0%-4.3pp	13.3%+35.7pp	-22.4%-31.0pp	8.6%-1.8pp	10.5%+10.2pp	0.3%
Return on Equity	N/A	N/A	2.5%-1.5pp	4.0%	N/A	2.5%-0.1pp	2.6%+2.5pp	0.1%
Return on Assets	-0.3%+1.6pp	-1.9%-3.2pp	1.2%-0.6pp	1.9%+5.3pp	-3.4%-4.4pp	0.9%-0.1pp	1.0%+1.0pp	0.0%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.01-1.5	1.55+0.5	1.07+1.1	0.010.0	0.010.0	0.010.0	0.010.0	0.01
FCF Margin	-58.6%-66.8pp	8.2%-5.6pp	13.8%-15.3pp	29.1%+9.1pp	20.0%-2.3pp	22.3%-43.1pp	65.5%+79.0pp	-13.5%

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Frequently Asked Questions

What is Ni Hldgs Inc's annual revenue?

Ni Hldgs Inc (NODK) reported $325.2M in total revenue for fiscal year 2024. This represents a 7.0% 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 grew by 7% year-over-year, from $304.0M to $325.2M in fiscal year 2024.

Is Ni Hldgs Inc profitable?

No, Ni Hldgs Inc (NODK) reported a net income of -$6.1M in fiscal year 2024, with a net profit margin of -1.9%.

What is Ni Hldgs Inc's earnings per share (EPS)?

Ni Hldgs Inc (NODK) reported diluted earnings per share of $-0.29 for fiscal year 2024. This represents a -11.5% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

How much debt does Ni Hldgs Inc have?

As of fiscal year 2024, Ni Hldgs Inc (NODK) had $50.9M 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 31.6% in fiscal year 2024, 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 -1.9% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Ni Hldgs Inc's free cash flow?

Ni Hldgs Inc (NODK) generated $37.5M in free cash flow during fiscal year 2024. This represents a -25.5% 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 $38.5M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Ni Hldgs Inc's total assets?

Ni Hldgs Inc (NODK) had $526.5M in total assets as of fiscal year 2024, including both current and long-term assets.

What are Ni Hldgs Inc's capital expenditures?

Ni Hldgs Inc (NODK) invested $991K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How many shares does Ni Hldgs Inc have outstanding?

Ni Hldgs Inc (NODK) had 21M shares outstanding as of fiscal year 2024.

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 2024, 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 -1.1% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Ni Hldgs Inc's Piotroski F-Score?

Ni Hldgs Inc (NODK) has a Piotroski F-Score of 3 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 -6.35x, considered mixed quality. 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.