National Health Investors, Inc. (NHI) Earnings History
Earnings Pressure35 years of earnings data (1991–2025) · 5-year EPS trend is negative
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National Health Investors, Inc. (NHI) Earnings Overview
As of September 25, 2026, National Health Investors, Inc. (NHI) reported trailing twelve-month net income of $167M, reflecting -3.5% year-over-year growth. The company earned $3.44 per diluted share over the past four quarters, with a net profit margin of 37.6%.
Looking at the long-term picture, NHI's 5-year EPS compound annual growth rate (CAGR) stands at -0.1%, signaling declining earnings. The company achieved its highest annual net income of $185M in fiscal 2020.
National Health Investors, Inc. maintains industry-leading profitability with a gross margin of 36.7%, operating margin of 51.5%, and net margin of 37.6%. This margin structure demonstrates strong pricing power and operational efficiency. View revenue history →
Compared to peers including OHI ($858M net income, 49.3% margin), SBRA ($65M net income, 20.1% margin), LTC ($135M net income, 44.9% margin), NHI has room to improve margins relative to the peer group. Compare NHI vs OHI →
NHI Earnings vs Peers
Earnings metrics vs comparable public companies
NHI Historical Earnings Data (1991–2025)
35 years| Fiscal Year | Net Income | YoY % | Operating Income | EPS (Diluted) | Net Margin | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $142M | +3.0% | $195M | $3.02 | 37.6% | 51.5% |
| 2024 | $138M | +1.7% | $184M | $3.13 | 41.2% | 54.9% |
| 2023 | $136M | +104.3% | $179M | $3.13 | 42.4% | 55.9% |
| 2022 | $66M | -40.6% | $133M | $0.51 | 23.9% | 47.7% |
| 2021 | $112M | -39.6% | $185M | $1.36 | 37.4% | 62.0% |
| 2020 | $185M | +15.4% | $225M | $3.03 | 55.6% | 67.6% |
| 2019 | $160M | +4.0% | $220M | $2.38 | 50.4% | 69.2% |
| 2018 | $154M | -3.2% | $209M | $3.67 | 52.4% | 71.0% |
| 2017 | $159M | +5.2% | $198M | $3.87 | 57.2% | 71.0% |
| 2016 | $152M | +1.8% | $178M | $3.87 | 61.0% | 71.5% |
| 2015 | $149M | +46.5% | $164M | $3.95 | 65.0% | 71.6% |
| 2014 | $102M | -4.3% | $106M | $3.04 | 57.2% | 59.8% |
| 2013 | $106M | +17.0% | $78M | $3.74 | 90.1% | 66.1% |
| 2012 | $91M | +11.8% | $71M | $3.26 | 93.6% | 73.3% |
| 2011 | $81M | +16.9% | $62M | $2.92 | 98.1% | 74.8% |
| 2010 | $69M | +8.1% | $58M | $2.50 | 88.6% | 74.6% |
| 2009 | $64M | +11.7% | $50M | $2.32 | 100.0% | 77.3% |
| 2008 | $58M | -40.4% | $49M | $2.07 | 91.3% | 78.2% |
| 2007 | $96M | +39.3% | $54M | $3.47 | 154.8% | 87.1% |
| 2006 | $69M | +27.2% | $50M | $2.49 | 45.9% | 33.3% |
| 2005 | $54M | -3.5% | $36M | $1.96 | 34.6% | 23.1% |
| 2004 | $56M | +28.7% | $56M | $2.03 | 36.2% | 35.9% |
| 2003 | $44M | +42.3% | $57M | $1.57 | 27.0% | 35.4% |
| 2002 | $31M | +48968.3% | $42M | $1.10 | 17.9% | 24.5% |
| 2001 | $-63,000 | -100.2% | $20M | $-0.00 | -0.0% | 14.4% |
| 2000 | $34M | -37.1% | $62M | $1.31 | 22.9% | 42.2% |
| 1999 | $54M | -23.0% | $28M | $2.13 | 40.9% | 21.4% |
| 1998 | $70M | -7.6% | $51M | $2.69 | 68.1% | 49.4% |
| 1997 | $75M | +12.2% | $53M | $2.92 | 68.4% | 48.3% |
| 1996 | $67M | +35.1% | $47M | $2.80 | 67.5% | 46.8% |
| 1995 | $50M | +27.8% | $96M | $2.49 | 56.5% | 108.6% |
| 1994 | $39M | +59.4% | $82M | $2.28 | 54.5% | 114.7% |
| 1993 | $24M | +83.5% | $58M | $1.95 | 49.3% | 116.6% |
| 1992 | $13M | +533.3% | $47M | $1.60 | 33.8% | 118.0% |
| 1991 | $2M | - | $10M | $0.29 | 26.6% | 120.3% |
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NHI — Frequently Asked Questions
Quick answers to the most common questions about buying NHI stock.
What is NHI earnings per share (EPS)?
NHI trailing twelve-month (TTM) diluted EPS is $3.44, reflecting -3.5% year-over-year growth. The 5-year EPS CAGR is -0.1%. Complete EPS history from 1991 to 2025 is available in the table on this page.
What is National Health Investors, Inc.'s net income?
National Health Investors, Inc. (NHI) trailing twelve-month net income is $167M as of 2025. Earnings declined -3.5% year-over-year. National Health Investors, Inc. has been profitable for 24 consecutive years.
Is NHI profitable?
Yes, NHI is profitable with a TTM net income of $167M and a net profit margin of +37.6%. National Health Investors, Inc. has generated profits for 24 consecutive years.
What is NHI's earnings growth rate?
NHI compound annual EPS growth rates (CAGR): 1-Year: -3.5%, 3-Year: +80.9%, 5-Year: -0.1%, 10-Year: -2.6%. These figures measure the annualised rate of diluted EPS growth over each period, based on data from 1991 to 2025.
What are NHI's profit margins?
National Health Investors, Inc. net profit margin is +37.6%, operating margin is +51.5%, and gross margin is +36.7%. Above-average net margins reflect strong pricing power and competitive moat. Return on Equity is +9.7%.
Is NHI growing earnings?
NHI earnings growth is slowing. Current YoY EPS growth of -3.5% trails the 5-year CAGR of -0.1%. TTM net income is $167M.
What was NHI's best earnings year?
National Health Investors, Inc.'s highest annual net income on record is $185M, achieved in fiscal year 2020. Earnings history on this page spans 1991 to 2025 and includes all annual and quarterly figures.
What were NHI's earnings last quarter?
NHI's most recent reported quarter was Q2 2026. Net income was $56M with diluted EPS of $1.15. For a full breakdown of all quarters, see the quarterly earnings table on this page.