8-K Announcements
6May 4, 2026·SEC
May 4, 2026·SEC
May 4, 2026·SEC
National Health Investors, Inc. (NHI) fundamental analysis — strengths, weaknesses & financial health based on data analysis
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National Health Investors, Inc. (NHI) stock price & volume — 10-year historical chart
National Health Investors, Inc. (NHI) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
National Health Investors, Inc. (NHI) EPS & revenue vs analyst estimates — last 4 quarters
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 4, 2026 | $1.24vs $1.21+2.5% | $73Mvs $70M+4.2% |
| Q1 2026 | Feb 26, 2026 | $1.22vs $0.80+52.3% | $70Mvs $69M+1.8% |
| Q4 2025 | Nov 6, 2025 | $1.32vs $1.24+6.5% | $90Mvs $95M-5.5% |
| Q3 2025 | Aug 6, 2025 | $1.22vs $1.16+5.2% | $91Mvs $86M+6.7% |
National Health Investors, Inc. (NHI) competitors in Senior housing and skilled nursing — business model, growth, and fundamentals comparison
National Health Investors, Inc. (NHI) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
National Health Investors, Inc. (NHI) annual income statement — 10-year revenue, gross profit & net income history
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Revenue | 278.66M | 294.61M | 318.08M | 332.81M | 298.71M | 278.19M | 319.83M | 335.18M | 378.53M | 402.91M |
Revenue Growth % | 12.14% | 5.72% | 7.97% | 4.63% | -10.24% | -6.87% | 14.97% | 4.8% | 12.93% | 17.48% |
Property Operating Expenses | 960K | 1.17M | 5.8M | 9.65M | 11.64M | 9.79M | 11.51M | 11.16M | 239.6M | 156.08M |
Net Operating Income (NOI) | 277.7M▲ 0% | 293.45M▲ 5.7% | 312.28M▲ 6.4% | 323.16M▲ 3.5% | 287.08M▼ 11.2% | 268.41M▼ 6.5% | 308.32M▲ 14.9% | 324.02M▲ 5.1% | 138.93M▼ 57.1% | 246.83M▲ 0% |
NOI Margin % | 99.66% | 99.6% | 98.18% | 97.1% | 96.1% | 96.48% | 96.4% | 96.67% | 36.7% | 61.26% |
Operating Expenses | 80.84M | 85.37M | 92.27M | 98.24M | 101.83M | 135.64M | 129.53M | 140.16M | -55.9M | 51.44M |
G&A Expenses | 12.71M | 12.86M | 13.91M | 14.56M | 19.34M | 25.32M | 19.82M | 21.79M | 0 | 13.66M |
EBITDA | 277.78M | 299.03M | 296.83M | 308.07M | 266.05M | 203.65M | 248.76M | 255.3M | 278.67M | 282.32M |
EBITDA Margin % | 99.68% | 101.5% | 93.32% | 92.57% | 89.06% | 73.2% | 77.78% | 76.17% | 73.62% | 70.07% |
Depreciation & Amortization | 79.96M | 89.79M | 76.82M | 83.15M | 80.8M | 70.88M | 69.97M | 71.44M | 83.84M | 86.93M |
D&A / Revenue % | 28.7% | 30.48% | 24.15% | 24.98% | 27.05% | 25.48% | 21.88% | 21.31% | 22.15% | 21.57% |
Operating Income | 197.81M▲ 0% | 209.24M▲ 5.8% | 220.01M▲ 5.1% | 224.92M▲ 2.2% | 185.25M▼ 17.6% | 132.77M▼ 28.3% | 178.79M▲ 34.7% | 183.86M▲ 2.8% | 194.83M▲ 6.0% | 195.39M▲ 0% |
Operating Margin % | 70.99% | 71.02% | 69.17% | 67.58% | 62.02% | 47.72% | 55.9% | 54.85% | 51.47% | 48.49% |
Interest Expense | 0 | 49.05M | 56.3M | 0 | 48.11M | 42.44M | 55.51M | 56.12M | 57.37M | 3M |
Interest Coverage | - | 4.08x | 3.80x | - | 3.33x | 2.54x | 3.42x | 3.43x | 3.45x | - |
Non-Operating Income | -4.05M | 4.2M | 6.04M | -9.93M | 25.11M | 24.91M | -11.1M | -8.86M | -3.33M | -6.9M |
Pretax Income | 159.37M▲ 0% | 154.33M▼ 3.2% | 160.45M▲ 4.0% | 185.31M▲ 15.5% | 112.03M▼ 39.5% | 65.41M▼ 41.6% | 134.38M▲ 105.4% | 136.59M▲ 1.6% | 140.79M▲ 3.1% | 146.72M▲ 0% |
Pretax Margin % | 57.19% | 52.39% | 50.44% | 55.68% | 37.5% | 23.51% | 42.02% | 40.75% | 37.19% | 36.42% |
Income Tax | 0 | -9.17M | 0 | 0 | 66K | -89K | 0 | -45K | 0 | 0 |
Effective Tax Rate % | 0% | -5.94% | 0% | 0% | 0.06% | -0.14% | 0% | -0.03% | 0% | 0% |
Net Income | 159.37M▲ 0% | 154.33M▼ 3.2% | 160.46M▲ 4.0% | 185.13M▲ 15.4% | 111.8M▼ 39.6% | 66.4M▼ 40.6% | 135.65M▲ 104.3% | 137.99M▲ 1.7% | 142.18M▲ 3.0% | 148.11M▲ 0% |
Net Margin % | 57.19% | 52.39% | 50.45% | 55.62% | 37.43% | 23.87% | 42.41% | 41.17% | 37.56% | 36.76% |
Net Income Growth % | 5.16% | -3.16% | 3.97% | 15.37% | -39.61% | -40.61% | 104.29% | 1.72% | 3.04% | 4.89% |
Funds From Operations (FFO) | 239.33M▲ 0% | 244.12M▲ 2.0% | 237.27M▼ 2.8% | 268.28M▲ 13.1% | 192.6M▼ 28.2% | 137.28M▼ 28.7% | 205.63M▲ 49.8% | 209.43M▲ 1.8% | 226.02M▲ 7.9% | 235.04M▲ 0% |
FFO Margin % | 85.89% | 82.86% | 74.59% | 80.61% | 64.48% | 49.35% | 64.29% | 62.48% | 59.71% | 58.34% |
FFO Growth % | 0.7% | 2% | -2.81% | 13.07% | -28.21% | -28.72% | 49.78% | 1.85% | 7.92% | 41.27% |
FFO per Share | 5.82 | 5.80 | 5.43 | 6.00 | 4.21 | 3.06 | 4.74 | 4.75 | 4.80 | 4.84 |
FFO Payout Ratio % | 63.95% | 67.75% | 75.75% | 72.53% | 94.96% | 117.84% | 75.98% | 74.73% | 75.08% | 54.7% |
EPS (Diluted) | 3.87▲ 0% | 3.67▼ 5.2% | 2.38▼ 35.1% | 3.03▲ 27.3% | 1.36▼ 55.1% | 0.51▼ 62.5% | 3.13▲ 513.7% | 3.13▲ 0.0% | 3.02▼ 3.5% | 3.05▲ 0% |
EPS Growth % | 0% | -5.17% | -35.15% | 27.31% | -55.12% | -62.5% | 513.73% | 0% | -3.51% | -1.59% |
EPS (Basic) | 3.90 | 3.68 | 2.40 | 3.03 | 1.36 | 0.52 | 3.13 | 3.14 | 3.03 | - |
Diluted Shares Outstanding | 41.15M | 42.09M | 43.7M | 44.7M | 45.73M | 44.79M | 43.39M | 44.1M | 47.05M | 48.55M |
National Health Investors, Inc. (NHI) balance sheet — assets, liabilities & shareholders' equity
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Total Assets | 2.55B | 2.75B | 3.04B | 3.12B | 2.84B | 2.51B | 2.49B | 2.61B | 2.8B | 2.89B |
Asset Growth % | 5.92% | 8.04% | 10.6% | 2.57% | -9.02% | -11.68% | -0.76% | 5.06% | 6.98% | 29.02% |
Real Estate & Other Assets | -2.53B | -2.73B | 304.27M | 302.21M | 2.32B | 2.12B | 2.11B | 2.22B | 6.7M | 0 |
PP&E (Net) | 2.29B | 2.37B | 2.56B | 2.67B | 0 | 0 | 0 | 0 | 0 | 0 |
Investment Securities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1000K | 0 |
Total Current Assets | 247.09M | 368.02M | 177.58M | 150.85M | 514.79M | 383.01M | 375.19M | 396.91M | 310.22M | 104.25M |
Cash & Equivalents | 3.06M | 4.66M | 5.21M | 43.34M | 37.41M | 19.29M | 22.35M | 24.29M | 19.62M | 24.95M |
Receivables | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
Other Current Assets | 5.01M | 5.25M | 83.11M | 9.21M | 68.47M | 45.53M | 7.27M | 2.21M | 0 | 0 |
Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3.15B |
Total Liabilities | 1.22B | 1.36B | 1.54B | 1.6B | 1.32B | 1.22B | 1.21B | 1.23B | 1.26B | 1.36B |
Total Debt | 1.17B | 1.29B | 1.44B | 1.51B | 1.25B | 1.15B | 1.14B | 1.15B | 1.16B | 0 |
Net Debt | 1.16B | 1.29B | 1.44B | 1.46B | 1.21B | 1.13B | 1.11B | 1.12B | 1.14B | -24.95M |
Long-Term Debt | 1.17B | 1.28B | 1.44B | 1.5B | 1.24B | 1.11B | 890.05M | 814.84M | 1.04B | 0 |
Short-Term Borrowings | 0 | 0 | 0 | 7.15M | 0 | 42M | 245M | 331.2M | 125M | 0 |
Capital Lease Obligations | 0 | 10.64M | 0 | 0 | 8.84M | 0 | 0 | 0 | 0 | 0 |
Total Current Liabilities | 56.93M | 68.54M | 69.7M | 75.01M | 70.17M | 112.01M | 324.38M | 414.35M | 125M | 5.21M |
Accounts Payable | 16.3M | 19.89M | 22.88M | 18.04M | 23.18M | 25.91M | 34.3M | 37.76M | 0 | 0 |
Deferred Revenue | -1.15B | 5.95M | 0 | 0 | 5.72M | 5.05M | 6.01M | 4.28M | 5M | 5.21M |
Other Liabilities | 1.92M | 0 | 30.39M | 23.25M | 0 | 0 | 0 | 0 | 88.17M | 1.35B |
Total Equity | 2.46B▲ 0% | 2.67B▲ 8.2% | 1.5B▼ 43.8% | 1.52B▲ 1.6% | 1.52B▼ 0.4% | 1.29B▼ 15.0% | 1.27B▼ 1.2% | 1.39B▲ 8.7% | 1.54B▲ 11.2% | 1.52B▲ 0% |
Equity Growth % | 6.19% | 8.2% | -43.82% | 1.65% | -0.39% | -14.97% | -1.23% | 8.72% | 11.17% | 55.21% |
Shareholders Equity | 1.32B | 1.39B | 1.5B | 1.51B | 1.51B | 1.27B | 1.25B | 1.37B | 1.52B | 1.51B |
Minority Interest | 1.14B | 1.28B | 621K | 10.71M | 9.9M | 19.68M | 20.09M | 18.7M | 18.36M | 9.92M |
Common Stock | 415K | 427K | 446K | 452K | 459K | 434K | 434K | 457K | 483K | 0 |
Additional Paid-in Capital | 1.29B | 1.37B | 1.51B | 1.54B | 1.59B | 1.6B | 1.6B | 1.74B | 1.92B | 0 |
Retained Earnings | 32.6M | 18.07M | -5.33M | 0 | -84.56M | 2.33B | 2.47B | 2.6B | -401.65M | 2.79B |
Preferred Stock | 32.6M | 18.07M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Return on Assets (ROA) | 6.44% | 5.83% | 5.54% | 6.01% | 3.75% | 2.48% | 5.43% | 5.41% | 5.25% | 5.35% |
Return on Equity (ROE) | 6.66% | 6.02% | 7.7% | 12.26% | 7.36% | 4.73% | 10.58% | 10.38% | 9.72% | 9.78% |
Debt / Assets | 45.83% | 46.98% | 47.46% | 48.28% | 44.09% | 45.76% | 45.61% | 43.84% | 41.61% | 0% |
Debt / Equity | 0.47x | 0.48x | 0.96x | 0.99x | 0.83x | 0.89x | 0.89x | 0.83x | 0.76x | 0.00x |
Net Debt / EBITDA | 4.19x | 4.31x | 4.85x | 4.75x | 4.56x | 5.54x | 4.47x | 4.39x | 4.11x | -0.09x |
Book Value per Share | 59.89 | 63.36 | 34.28 | 34.07 | 33.17 | 28.80 | 29.36 | 31.41 | 32.73 | 31.36 |
National Health Investors, Inc. (NHI) cash flow — operating, investing & free cash flow history
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operations | 197.32M | 207.87M | 240.96M | 232.15M | 210.86M | 185.34M | 184.45M | 208.17M | 240.23M | 246.77M |
Operating CF Growth % | 11.35% | 5.34% | 15.92% | -3.65% | -9.17% | -12.1% | -0.48% | 12.86% | 15.4% | 63.82% |
Operating CF / Revenue % | 70.81% | 70.56% | 75.75% | 69.75% | 70.59% | 66.62% | 57.67% | 62.11% | 63.46% | 61.25% |
Net Income | 159.37M | 154.33M | 160.45M | 185.31M | 111.97M | 65.5M | 134.38M | 137.99M | 142.18M | 148.11M |
Depreciation & Amortization | 72.96M | 75.79M | 76.82M | 83.15M | 80.8M | 70.88M | 69.97M | 74.34M | 83.84M | 88.38M |
Stock-Based Compensation | 2.61M | 2.49M | 3.65M | 3.06M | 8.41M | 8.61M | 4.61M | 0 | 0 | 0 |
Other Non-Cash Items | -27.28M | -30.02M | -19.48M | -32.64M | 39.16M | 43.04M | -27.8M | -1.6M | 6.95M | 4.07M |
Working Capital Changes | -2.46M | -571K | 18.7M | -6.74M | -438K | -2.7M | 3.29M | -2.56M | 7.26M | 6.29M |
Cash from Investing | -163.85M | -250.29M | -342.52M | -89.71M | 185.28M | 197.94M | -11.63M | -191.55M | -271.07M | -299.07M |
Acquisitions (Net) | 0 | 0 | 643K | -875K | -187.54M | 11.74M | 0 | 1.17M | 1.75M | 1.75M |
Purchase of Investments | -217.76M | -238.75M | -327.42M | 0 | -119.12M | -86.17M | 0 | -202.61M | -345.18M | -363.1M |
Sale of Investments | 18.18M | 4.35M | 2.9M | 0 | 306.65M | 288.17M | 0 | 25.63M | 92.33M | 82.97M |
Other Investing | -6.68M | -102.64M | -643K | -88.68M | 185.34M | -11.17M | -7.89M | 0 | 0 | 0 |
Cash from Financing | -35.05M | 44.26M | 107.32M | -111.76M | -402.99M | -401.25M | -169.72M | -14.74M | 23.96M | -60.03M |
Dividends Paid | -153.04M | -165.39M | -179.74M | -194.58M | -182.9M | -161.77M | -156.24M | -156.51M | -169.7M | -173.02M |
Common Dividends | -153.04M | -165.39M | -179.74M | -194.58M | -182.9M | -161.77M | -156.24M | -156.51M | -169.7M | -128.58M |
Debt Issuance (Net) | -1000K | 1000K | 1000K | 1000K | -1000K | -1000K | -1000K | 1000K | 1000K | 0 |
Share Repurchases | 0 | 0 | 0 | 0 | 0 | -151.95M | 0 | 0 | 0 | 0 |
Other Financing | 57.49M | -141.01M | -1.06M | -6.1M | -68.45M | 5.86M | -1.05M | -7.9M | -2.14M | -6.49M |
Net Change in Cash | -1.57M▲ 0% | 1.84M▲ 216.8% | 5.76M▲ 213.4% | 30.67M▲ 432.8% | -6.86M▼ 122.4% | -17.97M▼ 162.0% | 3.1M▲ 117.3% | 1.94M▼ 37.4% | -4.67M▼ 340.2% | -110.06M▲ 0% |
Exchange Rate Effect | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 57K | 2.21M | 2.27M |
Cash at Beginning | 4.64M | 8.07M | 9.91M | 15.67M | 46.34M | 39.48M | 21.52M | 22.35M | 24.29M | 19.62M |
Cash at End | 3.06M | 9.91M | 15.67M | 46.34M | 39.48M | 21.52M | 24.62M | 24.29M | 19.62M | 24.95M |
Free Cash Flow | 21.98M▲ 0% | 60.22M▲ 174.0% | 222.96M▲ 270.2% | 231.99M▲ 4.1% | 210.79M▼ 9.1% | 180.71M▼ 14.3% | 180.71M▼ 0.0% | 192.44M▲ 6.5% | 220.26M▲ 14.5% | 226.1M▲ 0% |
FCF Growth % | 111.58% | 173.97% | 270.21% | 4.05% | -9.14% | -14.27% | -0% | 6.49% | 14.46% | 13.93% |
FCF / Revenue % | 7.89% | 20.44% | 70.09% | 69.71% | 70.57% | 64.96% | 56.5% | 57.41% | 58.19% | 56.12% |
National Health Investors, Inc. (NHI) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
FFO per Share | 5.82 | 5.8 | 5.43 | 6 | 4.21 | 3.06 | 4.74 | 4.75 | 4.8 | 4.84 |
FFO Payout Ratio | 63.95% | 67.75% | 75.75% | 72.53% | 94.96% | 117.84% | 75.98% | 74.73% | 75.08% | 54.7% |
NOI Margin | 99.66% | 99.6% | 98.18% | 97.1% | 96.1% | 96.48% | 96.4% | 96.67% | 36.7% | 61.26% |
Net Debt / EBITDA | 4.19x | 4.31x | 4.85x | 4.75x | 4.56x | 5.54x | 4.47x | 4.39x | 4.11x | -0.09x |
Debt / Assets | 45.83% | 46.98% | 47.46% | 48.28% | 44.09% | 45.76% | 45.61% | 43.84% | 41.61% | 0% |
Interest Coverage | - | 4.08x | 3.80x | - | 3.33x | 2.54x | 3.42x | 3.43x | 3.45x | - |
Book Value / Share | 59.89 | 63.36 | 34.28 | 34.07 | 33.17 | 28.8 | 29.36 | 31.41 | 32.73 | 31.36 |
Revenue Growth | 12.14% | 5.72% | 7.97% | 4.63% | -10.24% | -6.87% | 14.97% | 4.8% | 12.93% | 17.48% |
National Health Investors, Inc. (NHI) SEC filings — annual & quarterly reports (10-K, 10-Q)
May 4, 2026·SEC
May 4, 2026·SEC
May 4, 2026·SEC
National Health Investors, Inc. (NHI) stock FAQ — growth, dividends, profitability & financials explained
National Health Investors, Inc. (NHI) reported $402.9M in revenue for fiscal year 2025. This represents a 305% increase from $99.4M in 1996.
National Health Investors, Inc. (NHI) grew revenue by 12.9% over the past year. This is steady growth.
Yes, National Health Investors, Inc. (NHI) is profitable, generating $148.1M in net income for fiscal year 2025 (37.6% net margin).
Yes, National Health Investors, Inc. (NHI) pays a dividend with a yield of 5.09%. This makes it attractive for income-focused investors.
National Health Investors, Inc. (NHI) has a return on equity (ROE) of 9.7%. This is below average, suggesting room for improvement.
National Health Investors, Inc. (NHI) generated Funds From Operations (FFO) of $235.0M in the trailing twelve months. FFO is the primary profitability metric for REITs.
National Health Investors, Inc. (NHI) offers a 5.09% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.