Comprehensive Stock Comparison
Compare National Health Investors, Inc. (NHI) vs Ventas, Inc. (VTR) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
Selected Stocks
Add up to 10 tickers. Use presets or search to get started.
Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth |  VTR | 18.5% revenue growth vs NHI's 12.1% |
| Value |  NHI | Lower P/E (25.8x vs 115.1x) |
| Quality / Margins | NHI | 380.5% net margin vs VTR's 4.3% |
| Stability / Safety | NHI | Beta 0.16 vs VTR's 0.23 |
| Dividends | Tie | Neither pays a meaningful dividend |
| Momentum (1Y) | VTR | +25.9% vs NHI's +20.6% |
| Efficiency (ROA) | NHI | 47.0% ROA vs VTR's 0.9% |
Who Each Stock Is For
Income & stability
NHIDividend streak 0 yrs, beta 0.16
Growth exposure
VTRRev growth 18.5%, EPS growth 184.2%, 3Y rev CAGR 12.2%
Long-term compounding (10Y)
VTR92.0% 10Y total return vs NHI's 90.4%
Sleep-well-at-night portfolio
NHILower volatility, beta 0.16, current ratio 60410.53x
Defensive / Recession hedge
NHIBeta 0.16, current ratio 60410.53x
Business Model
What each company does and how it makes money
National Health Investors is a healthcare-focused real estate investment trust that owns and finances senior housing and medical properties through sale-leaseback transactions and joint ventures. It generates revenue primarily from rental income — about 90% from senior housing and 10% from medical facilities — with long-term triple-net leases that pass operating expenses to tenants. The company's competitive advantage lies in its specialized healthcare real estate expertise and relationships with established operators in the senior living sector.
Ventas is a healthcare-focused real estate investment trust that owns and operates senior housing communities, medical office buildings, and life science research facilities. It generates revenue primarily through rental income from its diversified portfolio — roughly 60% from senior housing, 25% from medical office buildings, and 15% from life science and hospital properties. The company's competitive advantage lies in its scale, diversified healthcare property portfolio, and long-term relationships with leading healthcare operators across multiple care settings.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
NHI 2VTR 2VTR4/6 metricsNHI5/6 metricsNHI4/5 metricsVTR6/6 metricsVTR leads in 2 of 6 categories (Financial Metrics, Total Returns). NHI leads in 2 (Valuation Metrics, Profitability & Efficiency). 1 tied.
Financial Metrics (TTM)
NHI is the larger business by revenue, generating $37.3B annually — 6.7x VTR's $5.6B. Profitability is closely matched — net margins range from 3.8% (NHI) to 4.3% (VTR). On growth, NHI holds the edge at +431.0% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | NHINational Health I… | VTRVentas, Inc. |
|---|---|---|
| RevenueTrailing 12 months | $37.3B | $5.6B |
| EBITDAEarnings before interest/tax | $81.2B | $2.2B |
| Net IncomeAfter-tax profit | $142.0B | $238M |
| Free Cash FlowCash after capex | $163M | $1.2B |
| Gross MarginGross profit ÷ Revenue | +0.9% | +42.0% |
| Operating MarginEBIT ÷ Revenue | +0.5% | +14.7% |
| Net MarginNet income ÷ Revenue | +3.8% | +4.3% |
| FCF MarginFCF ÷ Revenue | +0.4% | +20.7% |
| Rev. Growth (YoY)Latest quarter vs prior year | +431.0% | +20.4% |
| EPS Growth (YoY)Latest quarter vs prior year | -15.8% | +2.1% |
Valuation Metrics
At 28.1x trailing earnings, NHI trades at a 83% valuation discount to VTR's 160.6x P/E.
| Metric | NHINational Health I… | VTRVentas, Inc. |
|---|---|---|
| Market CapShares × price | $4.1B | $40.7B |
| Enterprise ValueMkt cap + debt − cash | -$15.5B | $53.4B |
| Trailing P/EPrice ÷ TTM EPS | 28.11x | 160.65x |
| Forward P/EPrice ÷ next-FY EPS est. | 25.79x | 115.07x |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | -0.19x | 24.19x |
| Price / SalesMarket cap ÷ Revenue | 10.91x | 6.98x |
| Price / BookPrice ÷ Book value/share | 2.61x | 3.10x |
| Price / FCFMarket cap ÷ FCF | 17.33x | 31.75x |
Profitability & Efficiency
NHI delivers a 92.8% return on equity — every $100 of shareholder capital generates $93 in annual profit, vs $2 for VTR. On the Piotroski fundamental quality scale (0–9), VTR scores 7/9 vs NHI's 4/9, reflecting strong financial health.
| Metric | NHINational Health I… | VTRVentas, Inc. |
|---|---|---|
| ROE (TTM)Return on equity | +92.8% | +1.9% |
| ROA (TTM)Return on assets | +47.0% | +0.9% |
| ROICReturn on invested capital | — | +2.5% |
| ROCEReturn on capital employed | — | +3.2% |
| Piotroski ScoreFundamental quality 0–9 | 4 | 7 |
| Debt / EquityFinancial leverage | — | 1.04x |
| Net DebtTotal debt minus cash | -$19.6B | $12.6B |
| Cash & Equiv.Liquid assets | $19.6B | $786M |
| Total DebtShort + long-term debt | $0 | $13.4B |
| Interest CoverageEBIT ÷ Interest expense | — | 1.35x |
Total Returns (with DRIP)
A $10,000 investment in VTR five years ago would be worth $17,440 today (with dividends reinvested), compared to $14,550 for NHI. Over the past 12 months, VTR leads with a +25.9% total return vs NHI's +20.6%. The 3-year compound annual growth rate (CAGR) favors VTR at 23.6% vs NHI's 21.8% — a key indicator of consistent wealth creation.
| Metric | NHINational Health I… | VTRVentas, Inc. |
|---|---|---|
| YTD ReturnYear-to-date | +10.4% | +12.2% |
| 1-Year ReturnPast 12 months | +20.6% | +25.9% |
| 3-Year ReturnCumulative with dividends | +80.8% | +88.8% |
| 5-Year ReturnCumulative with dividends | +45.5% | +74.4% |
| 10-Year ReturnCumulative with dividends | +90.4% | +92.0% |
| CAGR (3Y)Annualised 3-year return | +21.8% | +23.6% |
Risk & Volatility
NHI is the less volatile stock with a 0.16 beta — it tends to amplify market swings less than VTR's 0.23 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. VTR currently trades 98.7% from its 52-week high vs NHI's 93.3% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | NHINational Health I… | VTRVentas, Inc. |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.16x | 0.23x |
| 52-Week HighHighest price in past year | $90.94 | $87.87 |
| 52-Week LowLowest price in past year | $66.41 | $60.15 |
| % of 52W HighCurrent price vs 52-week peak | +93.3% | +98.7% |
| RSI (14)Momentum oscillator 0–100 | 53.6 | 70.4 |
| Avg Volume (50D)Average daily shares traded | 252K | 2.7M |
Analyst Outlook
Wall Street rates NHI as "Hold" and VTR as "Buy". Consensus price targets imply 2.2% upside for VTR (target: $89) vs 0.4% for NHI (target: $85).
| Metric | NHINational Health I… | VTRVentas, Inc. |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Buy |
| Price TargetConsensus 12-month target | $85.20 | $88.70 |
| # AnalystsCovering analysts | 18 | 32 |
| Dividend YieldAnnual dividend ÷ price | — | — |
| Dividend StreakConsecutive years of raises | 0 | 0 |
| Dividend / ShareAnnual DPS | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | 0.0% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Mar 20 | Mar 26 | Change |
|---|---|---|---|
| National Health Inv… (NHI) | 100 | 100.17 | +0.2% |
| Ventas, Inc. (VTR) | 100 | 167.33 | +67.3% |
Ventas, Inc. (VTR) returned +74% over 5 years vs National Health Inv… (NHI)'s +45%. A $10,000 investment in VTR 5 years ago would be worth $17,440 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| National Health Inv… (NHI) | $249M | $376M | +51.2% |
| Ventas, Inc. (VTR) | $3.4B | $5.8B | +69.4% |
National Health Investors, Inc.'s revenue grew from $249M (2016) to $376M (2025) — a 4.7% CAGR. Ventas, Inc.'s revenue grew from $3.4B (2016) to $5.8B (2025) — a 6.0% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| National Health Inv… (NHI) | 61.0% | 378.0% | +519.8% |
| Ventas, Inc. (VTR) | 18.9% | 4.3% | -77.1% |
National Health Investors, Inc.'s net margin went from 61% (2016) to 378% (2025). Ventas, Inc.'s net margin went from 19% (2016) to 4% (2025).
Chart 4P/E Ratio History — 9 Years
| Stock | 2017 | 2025 | Change |
|---|---|---|---|
| National Health Inv… (NHI) | 19.5 | 25.3 | +29.7% |
| Ventas, Inc. (VTR) | 15.9 | 143.3 | +801.3% |
National Health Investors, Inc. has traded in a 18x–102x P/E range over 9 years; current trailing P/E is ~28x. Ventas, Inc. has traded in a 16x–393x P/E range over 7 years; current trailing P/E is ~161x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| National Health Inv… (NHI) | 3.87 | 3.02 | -22.0% |
| Ventas, Inc. (VTR) | 1.86 | 0.54 | -71.0% |
National Health Investors, Inc.'s EPS grew from $3.87 (2016) to $3.02 (2025) — a -3% CAGR. Ventas, Inc.'s EPS grew from $1.86 (2016) to $0.54 (2025) — a -13% CAGR.
Chart 6Free Cash Flow — 5 Years
National Health Investors, Inc. generated $237M FCF in 2025 (+12% vs 2021). Ventas, Inc. generated $1B FCF in 2025 (+116% vs 2021).
NHI vs VTR: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is NHI or VTR a better buy right now?
National Health Investors, Inc. (NHI) offers the better valuation at 28.1x trailing P/E (25.8x forward), making it the more compelling value choice. Analysts rate Ventas, Inc. (VTR) a "Buy" — based on 32 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — NHI or VTR?
On trailing P/E, National Health Investors, Inc. (NHI) is the cheapest at 28.1x versus Ventas, Inc. at 160.6x. On forward P/E, National Health Investors, Inc. is actually cheaper at 25.8x.
03Which is the better long-term investment — NHI or VTR?
Over the past 5 years, Ventas, Inc. (VTR) delivered a total return of +74.4%, compared to +45.5% for National Health Investors, Inc. (NHI). A $10,000 investment in VTR five years ago would be worth approximately $17K today (assuming dividends reinvested). Over 10 years, the gap is even starker: VTR returned +92.0% versus NHI's +90.4%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — NHI or VTR?
By beta (market sensitivity over 5 years), National Health Investors, Inc. (NHI) is the lower-risk stock at 0.16β versus Ventas, Inc.'s 0.23β — meaning VTR is approximately 46% more volatile than NHI relative to the S&P 500.
05Which has better profit margins — NHI or VTR?
National Health Investors, Inc. (NHI) is the more profitable company, earning 378.0% net margin versus 4.3% for Ventas, Inc. — meaning it keeps 378.0% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: VTR leads at 14.2% versus 0.5% for NHI. At the gross margin level — before operating expenses — NHI leads at 0.9%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is NHI or VTR more undervalued right now?
On forward earnings alone, National Health Investors, Inc. (NHI) trades at 25.8x forward P/E versus 115.1x for Ventas, Inc. — 89.3x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for VTR: 2.2% to $88.70.
07Which pays a better dividend — NHI or VTR?
None of the stocks in this comparison currently pay a material dividend. All are effectively zero-yield and should be held for capital appreciation rather than income.
08Is NHI or VTR better for a retirement portfolio?
For long-horizon retirement investors, National Health Investors, Inc. (NHI) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.16)). Both have compounded well over 10 years (NHI: +90.4%, VTR: +92.0%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between NHI and VTR?
Both stocks operate in the Real Estate sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
Find Stocks Like These
Explore pre-built screens for each stock's profile, or build a custom screen to find stocks that beat both.