Is NMIH or RYAN more undervalued in 2026?

CirclFi compares NMI Holdings Inc (NMIH) and Ryan Specialty Holdings, Inc. (RYAN) using 13 institutional-grade valuation models. NMIH has a Quality of Company score of 8.0/10 while RYAN scores 7.5/10.

Which is a better buy — NMIH or RYAN?

Compare intrinsic values from 13 independent models against current market prices. CirclFi also calculates Value Trap scores. This is not financial advice — conduct your own analysis.

How do NMIH and RYAN valuations compare?

NMIH at $36.28 and RYAN at $31.79 are compared across Bayesian DCF, EPV, EROIC Spread, First Chicago, Markov DDM, and 8 additional models.

NMIH vs RYAN Valuation Comparison 2026 — Intrinsic Value Analysis

NMIH

Insurance - Specialty

NMI Holdings Inc

Quality

8.0

out of 10

Value Trap

SAFE

Price

$36.28

Last close

Models

13/13

Active

RYAN

Insurance - Specialty

Ryan Specialty Holdings, Inc.

Quality

7.5

out of 10

Value Trap

SAFE

Price

$31.79

Last close

Models

11/13

Active

Model-by-Model Comparison

Model	Type	NMIH Fair Value	NMIH Upside	RYAN Fair Value	RYAN Upside
Bayesian DCF	Intrinsic	$82.34	+127.0%	$26.17	-17.7%
Earnings Power Value	Intrinsic	$40.51	+11.6%	—	—
EROIC Spread	Intrinsic	$35.93	-1.0%	$12.12	-62.9%
First Chicago	Scenario	$•••.••	••.•%	$•••.••	••.•%
Markov DDM	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
ML-RIV	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
Dynamic NAV	Asset-Based	$•••.••	••.•%	$•••.••	••.•%
PWERM	Option-Based	$•••.••	••.•%	$•••.••	••.•%
Regime Cross-Sectional	Relative	$•••.••	••.•%	$•••.••	••.•%
Sentiment SOTP	Hybrid	$•••.••	••.•%	$•••.••	••.•%
CUCE Ensemble	Ensemble	$•••.••	••.•%	$•••.••	••.•%
FTNN Topology	Relative	$•••.••	••.•%	$•••.••	••.•%
RCMH-DCF	Intrinsic	$•••.••	••.•%	$•••.••	••.•%

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NMIH vs RYAN — Which Stock Is More Undervalued?

NMIH scores higher with a 8.0/10 quality rating vs RYAN's 7.5/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

Comparing NMI Holdings Inc (NMIH) and Ryan Specialty Holdings, Inc. (RYAN) across 13 institutional-grade valuation models reveals how each company's intrinsic value stacks up against its market price. CirclFi's engine processes SEC EDGAR 10-K and 10-Q filings, FRED macroeconomic data, and GDELT news sentiment to generate independent fair value estimates daily.

NMIH currently trades at $36.28 with a QOC of 8.0/10, while RYAN trades at $31.79 with a QOC of 7.5/10.

Both companies are analyzed with models spanning intrinsic (Bayesian DCF, EPV), scenario-based (First Chicago), regime-switching (Markov DDM, RCMH-DCF), machine learning (ML-RIV, FTNN Topology), and ensemble methods (CUCE).