NHI
National Health Investors, Inc.
REIT - Healthcare Facilities
Market Cap$3.54B
5Y Perf.+31.7%
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Stock Comparison
NHI vs WELL
Revenue, margins, valuation, and 5-year total return — side by side.
WELL
Welltower Inc.
REIT - Healthcare Facilities
Market Cap$150.14B
5Y Perf.+322.9%
NHI vs WELL — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | NHI | WELL |
|---|---|---|
| Industry | REIT - Healthcare Facilities | REIT - Healthcare Facilities |
| Market Cap | $3.54B | $150.14B |
| Revenue (TTM) | $402M | $11.63B |
| Net Income (TTM) | $148M | $1.43B |
| Gross Margin | 52.4% | 39.1% |
| Operating Margin | 35.6% | 4.4% |
| Forward P/E | 21.6x | 78.9x |
| Total Debt | $1.16B | $21.38B |
| Cash & Equiv. | $20M | $5.03B |
NHI vs WELL — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
NHI
WELL
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| National Health Inv… (NHI) | 100 | 131.7 | +31.7% |
| Welltower Inc. (WELL) | 100 | 422.9 | +322.9% |
Price return only. Dividends and distributions are not included.
Quick Verdict: NHI vs WELL
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: NHI leads in 4 of 7 categories, making it the strongest pick for valuation and capital efficiency and profitability and margin quality. Welltower Inc. is the stronger pick specifically for growth and revenue expansion and capital preservation and lower volatility. As sector peers, any of these can serve as alternatives in the same allocation.
NHI
National Health Investors, Inc.
The Real Estate Income Play
NHI carries the broadest edge in this set and is the clearest fit for income & stability and defensive.
- Dividend streak 1 yrs, beta -0.08, yield 4.9%
- Beta -0.08, yield 4.9%, current ratio 2.48x
- Lower P/E (21.6x vs 78.9x)
Best for: income & stability and defensive
WELL
Welltower Inc.
The Real Estate Income Play
WELL is the clearest fit if your priority is growth exposure and long-term compounding.
- Rev growth 35.8%, EPS growth -11.5%, 3Y rev CAGR 22.7%
- 230.2% 10Y total return vs NHI's 59.2%
- Lower volatility, beta 0.13, Low D/E 49.5%, current ratio 5.34x
Best for: growth exposure and long-term compounding
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | WELL | 35.8% FFO/revenue growth vs NHI's 12.9% |
| Value | NHI | Lower P/E (21.6x vs 78.9x) |
| Quality / Margins | NHI | 36.8% margin vs WELL's 12.3% |
| Stability / Safety | WELL | Lower D/E ratio (49.5% vs 75.6%) |
| Dividends | NHI | 4.9% yield, 1-year raise streak, vs WELL's 1.3% |
| Momentum (1Y) | WELL | +43.9% vs NHI's +0.9% |
| Efficiency (ROA) | NHI | 5.3% ROA vs WELL's 2.3%, ROIC 5.6% vs 0.5% |
NHI vs WELL — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2025
FY 2025
NHI vs WELL — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLNHILAGGINGWELL
WELLWelltower Inc.
1leads
NHINational Health Inves…
3leads
6 Total Categories
CATEGORYLEADERvs WELLMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
NHI4/6
Valuation MetricsMultiples, price ratios, and targets
NHI6/6
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
NHI7/9
Total Returns1Y, 3Y, 5Y total returns with dividends
WELL6/6
Risk & VolatilityBeta, volatility, and downside exposure
Tied
—
Analyst OutlookRatings, price targets, and dividends
Tied
—
Income & Cash Flow (Last 12 Months)
NHI leads this category, winning 4 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
WELL is the larger business by revenue, generating $11.6B annually — 28.9x NHI's $402M. NHI is the more profitable business, keeping 36.8% of every revenue dollar as net income compared to WELL's 12.3%. On growth, WELL holds the edge at +40.3% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | NHINational Health I… | WELLWelltower Inc. |
|---|---|---|
| RevenueTrailing 12 months | $402M | $11.6B |
| EBITDAEarnings before interest/tax | $229M | $2.8B |
| Net IncomeAfter-tax profit | $148M | $1.4B |
| Free Cash FlowCash after capex | $229M | $2.5B |
| Gross MarginGross profit ÷ Revenue | +52.4% | +39.1% |
| Operating MarginEBIT ÷ Revenue | +35.6% | +4.4% |
| Net MarginNet income ÷ Revenue | +36.8% | +12.3% |
| FCF MarginFCF ÷ Revenue | +56.9% | +21.9% |
| Rev. Growth (YoY)Latest quarter vs prior year | +28.9% | +40.3% |
| EPS Growth (YoY)Latest quarter vs prior year | +10.8% | +22.5% |
NHI leads this category, winning 4 of 6 comparable metrics.
Valuation Metrics
NHI leads this category, winning 6 of 6 comparable metrics.
Valuation Metrics
At 24.2x trailing earnings, NHI trades at a 84% valuation discount to WELL's 154.2x P/E. On an enterprise value basis, NHI's 16.8x EV/EBITDA is more attractive than WELL's 66.8x.
| Metric | NHINational Health I… | WELLWelltower Inc. |
|---|---|---|
| Market CapShares × price | $3.5B | $150.1B |
| Enterprise ValueMkt cap + debt − cash | $4.7B | $166.5B |
| Trailing P/EPrice ÷ TTM EPS | 24.20x | 154.17x |
| Forward P/EPrice ÷ next-FY EPS est. | 21.58x | 78.89x |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | 16.82x | 66.76x |
| Price / SalesMarket cap ÷ Revenue | 9.36x | 14.08x |
| Price / BookPrice ÷ Book value/share | 2.23x | 3.37x |
| Price / FCFMarket cap ÷ FCF | 16.08x | 52.72x |
NHI leads this category, winning 6 of 6 comparable metrics.
Profitability & Efficiency
NHI leads this category, winning 7 of 9 comparable metrics.
Profitability & Efficiency
NHI delivers a 9.8% return on equity — every $100 of shareholder capital generates $10 in annual profit, vs $3 for WELL. WELL carries lower financial leverage with a 0.49x debt-to-equity ratio, signaling a more conservative balance sheet compared to NHI's 0.76x. On the Piotroski fundamental quality scale (0–9), WELL scores 7/9 vs NHI's 6/9, reflecting strong financial health.
| Metric | NHINational Health I… | WELLWelltower Inc. |
|---|---|---|
| ROE (TTM)Return on equity | +9.8% | +3.5% |
| ROA (TTM)Return on assets | +5.3% | +2.3% |
| ROICReturn on invested capital | +5.6% | +0.5% |
| ROCEReturn on capital employed | +8.0% | +0.6% |
| Piotroski ScoreFundamental quality 0–9 | 6 | 7 |
| Debt / EquityFinancial leverage | 0.76x | 0.49x |
| Net DebtTotal debt minus cash | $1.1B | $16.3B |
| Cash & Equiv.Liquid assets | $20M | $5.0B |
| Total DebtShort + long-term debt | $1.2B | $21.4B |
| Interest CoverageEBIT ÷ Interest expense | 3.45x | 0.26x |
NHI leads this category, winning 7 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
WELL leads this category, winning 6 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in WELL five years ago would be worth $31,264 today (with dividends reinvested), compared to $12,999 for NHI. Over the past 12 months, WELL leads with a +43.9% total return vs NHI's +0.9%. The 3-year compound annual growth rate (CAGR) favors WELL at 41.3% vs NHI's 19.4% — a key indicator of consistent wealth creation.
| Metric | NHINational Health I… | WELLWelltower Inc. |
|---|---|---|
| YTD ReturnYear-to-date | -3.7% | +15.0% |
| 1-Year ReturnPast 12 months | +0.9% | +43.9% |
| 3-Year ReturnCumulative with dividends | +70.3% | +182.2% |
| 5-Year ReturnCumulative with dividends | +30.0% | +212.6% |
| 10-Year ReturnCumulative with dividends | +59.2% | +230.2% |
| CAGR (3Y)Annualised 3-year return | +19.4% | +41.3% |
WELL leads this category, winning 6 of 6 comparable metrics.
Risk & Volatility
Evenly matched — NHI and WELL each lead in 1 of 2 comparable metrics.
Risk & Volatility
NHI is the less volatile stock with a -0.08 beta — it tends to amplify market swings less than WELL's 0.13 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. WELL currently trades 97.6% from its 52-week high vs NHI's 80.4% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | NHINational Health I… | WELLWelltower Inc. |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | -0.08x | 0.13x |
| 52-Week HighHighest price in past year | $90.94 | $219.59 |
| 52-Week LowLowest price in past year | $68.80 | $142.65 |
| % of 52W HighCurrent price vs 52-week peak | +80.4% | +97.6% |
| RSI (14)Momentum oscillator 0–100 | 29.0 | 62.6 |
| Avg Volume (50D)Average daily shares traded | 323K | 2.6M |
Evenly matched — NHI and WELL each lead in 1 of 2 comparable metrics.
Analyst Outlook
Evenly matched — NHI and WELL each lead in 1 of 2 comparable metrics.
Analyst Outlook
Wall Street rates NHI as "Hold" and WELL as "Buy". Consensus price targets imply 16.8% upside for NHI (target: $85) vs 5.7% for WELL (target: $227). For income investors, NHI offers the higher dividend yield at 4.93% vs WELL's 1.29%.
| Metric | NHINational Health I… | WELLWelltower Inc. |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Buy |
| Price TargetConsensus 12-month target | $85.40 | $226.50 |
| # AnalystsCovering analysts | 18 | 34 |
| Dividend YieldAnnual dividend ÷ price | +4.9% | +1.3% |
| Dividend StreakConsecutive years of raises | 1 | 2 |
| Dividend / ShareAnnual DPS | $3.61 | $2.76 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | 0.0% |
Evenly matched — NHI and WELL each lead in 1 of 2 comparable metrics.
Key Takeaway
NHI leads in 3 of 6 categories (Income & Cash Flow, Valuation Metrics). WELL leads in 1 (Total Returns). 2 tied.
Best OverallNational Health Investors, … (NHI)Leads 3 of 6 categories
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NHI vs WELL: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is NHI or WELL a better buy right now?
For growth investors, Welltower Inc.
(WELL) is the stronger pick with 35. 8% revenue growth year-over-year, versus 12. 9% for National Health Investors, Inc. (NHI). National Health Investors, Inc. (NHI) offers the better valuation at 24. 2x trailing P/E (21. 6x forward), making it the more compelling value choice. Analysts rate Welltower Inc. (WELL) a "Buy" — based on 34 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 WELL?
On trailing P/E, National Health Investors, Inc.
(NHI) is the cheapest at 24. 2x versus Welltower Inc. at 154. 2x. On forward P/E, National Health Investors, Inc. is actually cheaper at 21. 6x.
03Which is the better long-term investment — NHI or WELL?
Over the past 5 years, Welltower Inc.
(WELL) delivered a total return of +212. 6%, compared to +30. 0% for National Health Investors, Inc. (NHI). Over 10 years, the gap is even starker: WELL returned +230. 2% versus NHI's +59. 2%. 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 WELL?
By beta (market sensitivity over 5 years), National Health Investors, Inc.
(NHI) is the lower-risk stock at -0. 08β versus Welltower Inc. 's 0. 13β — meaning WELL is approximately -258% more volatile than NHI relative to the S&P 500. On balance sheet safety, Welltower Inc. (WELL) carries a lower debt/equity ratio of 49% versus 76% for National Health Investors, Inc. — giving it more financial flexibility in a downturn.
05Which is growing faster — NHI or WELL?
By revenue growth (latest reported year), Welltower Inc.
(WELL) is pulling ahead at 35. 8% versus 12. 9% for National Health Investors, Inc. (NHI). On earnings-per-share growth, the picture is similar: National Health Investors, Inc. grew EPS -3. 5% year-over-year, compared to -11. 5% for Welltower Inc.. Over a 3-year CAGR, WELL leads at 22. 7% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — NHI or WELL?
National Health Investors, Inc.
(NHI) is the more profitable company, earning 37. 6% net margin versus 8. 8% for Welltower Inc. — meaning it keeps 37. 6% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: NHI leads at 51. 5% versus 3. 3% for WELL. At the gross margin level — before operating expenses — WELL leads at 39. 2%, 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.
07Is NHI or WELL more undervalued right now?
On forward earnings alone, National Health Investors, Inc.
(NHI) trades at 21. 6x forward P/E versus 78. 9x for Welltower Inc. — 57. 3x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for NHI: 16. 8% to $85. 40.
08Which pays a better dividend — NHI or WELL?
All stocks in this comparison pay dividends.
National Health Investors, Inc. (NHI) offers the highest yield at 4. 9%, versus 1. 3% for Welltower Inc. (WELL).
09Is NHI or WELL 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. 08), 4. 9% yield). Both have compounded well over 10 years (NHI: +59. 2%, WELL: +230. 2%), 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.
10What are the main differences between NHI and WELL?
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.
In terms of investment character: NHI is a small-cap income-oriented stock; WELL is a mid-cap high-growth stock. 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.
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Revenue Growth>
%
(NHI: 28.9% · WELL: 40.3%)Net Margin>
%
(NHI: 36.8% · WELL: 12.3%)P/E Ratio<
x
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