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MBIA INC（MBI）与NMI Holdings, Inc.（NMIH）财务数据对比。点击上方公司名可切换其他公司
NMI Holdings, Inc.的季度营收约是MBIA INC的6.5倍（$180.7M vs $28.0M）。NMI Holdings, Inc.净利率更高（52.1% vs -182.1%，领先234.3%）。NMI Holdings, Inc.同比增速更快（8.5% vs -24.3%）。过去两年MBIA INC的营收复合增速更高（46.8% vs 7.5%）
MBIA Inc.是一家美国金融服务企业，1973年以市政债券保险协会之名成立，总部位于纽约州帕切斯，是全球规模最大的债券保险公司，截至2015年1月共有约180名员工，深耕债券保险领域多年，在行业内拥有重要影响力。
NMI控股是美国头部私人抵押贷款保险服务商，主要为贷款机构提供抵押贷款担保保险产品，降低住房抵押贷款信用风险，服务美国本土住宅市场，助力符合资质的购房者获得购房便利，同时保护放贷机构免受违约损失。
MBI vs NMIH — 直观对比
营收规模更大
NMIH
是对方的6.5倍
$28.0M
营收增速更快
NMIH
高出32.9%
-24.3%
净利率更高
NMIH
高出234.3%
-182.1%
两年增速更快
MBI
近两年复合增速
7.5%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $28.0M | $180.7M |
| 净利润 | $-51.0M | $94.2M |
| 毛利率 | — | — |
| 营业利润率 | -200.0% | 67.0% |
| 净利率 | -182.1% | 52.1% |
| 营收同比 | -24.3% | 8.5% |
| 净利润同比 | -106.1% | 9.3% |
| 每股收益（稀释后） | $-1.01 | $1.21 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收MBINMIH
| Q4 25 | $28.0M | $180.7M | ||
| Q3 25 | $15.0M | $178.7M | ||
| Q2 25 | $23.0M | $173.8M | ||
| Q1 25 | $14.0M | $173.2M | ||
| Q4 24 | $37.0M | $166.5M | ||
| Q3 24 | $29.0M | $166.1M | ||
| Q2 24 | $-37.0M | $162.1M | ||
| Q1 24 | $13.0M | $156.3M |
净利润MBINMIH
| Q4 25 | $-51.0M | $94.2M | ||
| Q3 25 | $-8.0M | $96.0M | ||
| Q2 25 | $-56.0M | $96.2M | ||
| Q1 25 | $-62.0M | $102.6M | ||
| Q4 24 | $831.0M | $86.2M | ||
| Q3 24 | $-56.0M | $92.8M | ||
| Q2 24 | $-254.0M | $92.1M | ||
| Q1 24 | $-86.0M | $89.0M |
营业利润率MBINMIH
| Q4 25 | -200.0% | 67.0% | ||
| Q3 25 | -46.7% | 69.2% | ||
| Q2 25 | -243.5% | 71.1% | ||
| Q1 25 | -442.9% | 75.8% | ||
| Q4 24 | -135.1% | 66.6% | ||
| Q3 24 | -175.9% | 71.8% | ||
| Q2 24 | 683.8% | 73.2% | ||
| Q1 24 | -669.2% | 73.3% |
净利率MBINMIH
| Q4 25 | -182.1% | 52.1% | ||
| Q3 25 | -53.3% | 53.7% | ||
| Q2 25 | -243.5% | 55.3% | ||
| Q1 25 | -442.9% | 59.2% | ||
| Q4 24 | 2245.9% | 51.8% | ||
| Q3 24 | -193.1% | 55.9% | ||
| Q2 24 | 686.5% | 56.8% | ||
| Q1 24 | -661.5% | 57.0% |
每股收益（稀释后）MBINMIH
| Q4 25 | $-1.01 | $1.21 | ||
| Q3 25 | $-0.17 | $1.22 | ||
| Q2 25 | $-1.12 | $1.21 | ||
| Q1 25 | $-1.28 | $1.28 | ||
| Q4 24 | $-1.07 | $1.07 | ||
| Q3 24 | $-1.18 | $1.15 | ||
| Q2 24 | $-5.34 | $1.13 | ||
| Q1 24 | $-1.84 | $1.08 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | — | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $-2.2B | $2.6B |
| 总资产 | $2.0B | $3.8B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
股东权益MBINMIH
| Q4 25 | $-2.2B | $2.6B | ||
| Q3 25 | $-2.2B | $2.5B | ||
| Q2 25 | $-2.2B | $2.4B | ||
| Q1 25 | $-2.1B | $2.3B | ||
| Q4 24 | $-2.1B | $2.2B | ||
| Q3 24 | $-2.0B | $2.2B | ||
| Q2 24 | $-2.0B | $2.0B | ||
| Q1 24 | $-1.7B | $2.0B |
总资产MBINMIH
| Q4 25 | $2.0B | $3.8B | ||
| Q3 25 | $2.1B | $3.7B | ||
| Q2 25 | $2.1B | $3.6B | ||
| Q1 25 | $2.1B | $3.5B | ||
| Q4 24 | $2.2B | $3.3B | ||
| Q3 24 | $2.2B | $3.3B | ||
| Q2 24 | $2.3B | $3.1B | ||
| Q1 24 | $2.5B | $3.0B |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $-10.0M | $61.7M |
| 自由现金流经营现金流 - 资本支出 | — | $60.1M |
| 自由现金流率自由现金流/营收 | — | 33.3% |
| 资本支出强度资本支出/营收 | — | 0.9% |
| 现金转化率经营现金流/净利润 | — | 0.66× |
| 过去12个月自由现金流最近4个季度 | — | $412.5M |
8季度趋势，按日历期对齐
经营现金流MBINMIH
| Q4 25 | $-10.0M | $61.7M | ||
| Q3 25 | $90.0M | $128.0M | ||
| Q2 25 | $1.0M | $128.4M | ||
| Q1 25 | $-43.0M | $101.2M | ||
| Q4 24 | $3.0M | $35.8M | ||
| Q3 24 | $-139.0M | $128.4M | ||
| Q2 24 | $-10.0M | $117.8M | ||
| Q1 24 | $-30.0M | $111.6M |
自由现金流MBINMIH
| Q4 25 | — | $60.1M | ||
| Q3 25 | — | $126.3M | ||
| Q2 25 | — | $126.7M | ||
| Q1 25 | — | $99.4M | ||
| Q4 24 | — | $34.4M | ||
| Q3 24 | — | $126.9M | ||
| Q2 24 | — | $115.9M | ||
| Q1 24 | — | $109.4M |
自由现金流率MBINMIH
| Q4 25 | — | 33.3% | ||
| Q3 25 | — | 70.7% | ||
| Q2 25 | — | 72.9% | ||
| Q1 25 | — | 57.4% | ||
| Q4 24 | — | 20.7% | ||
| Q3 24 | — | 76.4% | ||
| Q2 24 | — | 71.5% | ||
| Q1 24 | — | 70.0% |
资本支出强度MBINMIH
| Q4 25 | — | 0.9% | ||
| Q3 25 | — | 1.0% | ||
| Q2 25 | — | 0.9% | ||
| Q1 25 | — | 1.0% | ||
| Q4 24 | — | 0.8% | ||
| Q3 24 | — | 0.9% | ||
| Q2 24 | — | 1.1% | ||
| Q1 24 | — | 1.4% |
现金转化率MBINMIH
| Q4 25 | — | 0.66× | ||
| Q3 25 | — | 1.33× | ||
| Q2 25 | — | 1.33× | ||
| Q1 25 | — | 0.99× | ||
| Q4 24 | 0.00× | 0.42× | ||
| Q3 24 | — | 1.38× | ||
| Q2 24 | — | 1.28× | ||
| Q1 24 | — | 1.25× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
MBI
| US Public Finance Insurance | $15.0M | 54% |
| Corporate Operations | $7.0M | 25% |
| International And Structured Finance Insurance | $5.0M | 18% |
| Other | $1.0M | 4% |
NMIH
暂无分部数据
