Last 47 quarters of trend data · Real Estate · Healthcare REITs
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 20.71 | 16.58 | 24.65 | 23.87 | 28.80 | 22.19 | 24.95 | 18.24 | 32.33 | 20.90 | 22.12 | 18.87 | 18.88 | 14.24 | 71.64 | 304.31 | 18.12 | 60.61 | — | 102.62 | 19.96 |
| — | -25.3% | -1.2% | +30.9% | -10.9% | +6.1% | +12.8% | -3.3% | +71.2% | +46.8% | -69.1% | -93.8% | +4.2% | -76.5% | — | +196.5% | -9.2% | +207.3% | — | +392.6% | +25.9% | |
| P/S Ratio | 7.96 | 7.62 | 8.47 | 8.43 | 10.53 | 9.05 | 9.49 | 9.18 | 11.14 | 8.68 | 8.37 | 7.62 | 6.95 | 7.30 | 6.79 | 8.02 | 8.22 | 11.57 | 9.48 | 9.46 | 8.31 |
| — | -15.8% | -10.7% | -8.1% | -5.5% | +4.3% | +13.4% | +20.4% | +60.2% | +18.9% | +23.2% | -4.9% | -15.4% | -36.9% | -28.4% | -15.2% | -1.0% | +11.8% | -6.4% | -1.0% | +4.1% | |
| P/B Ratio | 2.18 | 2.34 | 2.56 | 2.33 | 2.53 | 2.19 | 2.35 | 2.27 | 2.96 | 2.34 | 2.15 | 1.90 | 1.74 | 1.76 | 1.74 | 1.76 | 1.89 | 1.96 | 1.82 | 1.74 | 1.58 |
| — | +6.8% | +9.2% | +2.7% | -14.8% | -6.1% | +9.0% | +19.5% | +70.4% | +32.5% | +23.9% | +8.3% | -8.0% | -10.1% | -4.4% | +1.1% | +19.5% | -0.7% | -13.4% | -14.7% | -11.5% | |
| P/FCF | 14.65 | 13.53 | 19.42 | 15.16 | 16.44 | 13.98 | 18.95 | 15.27 | 21.03 | 12.67 | 17.63 | 11.64 | 11.46 | 11.78 | 19.35 | 12.08 | 14.59 | 12.81 | 17.49 | 12.28 | 12.87 |
| — | -3.2% | +2.5% | -0.7% | -21.8% | +10.3% | +7.5% | +31.2% | +83.5% | +7.5% | -8.9% | -3.6% | -21.4% | -8.0% | +10.7% | -1.6% | +13.4% | -14.0% | +21.4% | -16.3% | +14.0% | |
| EV / EBITDA | 15.90 | 16.42 | 16.83 | 16.31 | 18.72 | 15.98 | 16.84 | 17.33 | 18.74 | 15.27 | 15.36 | 14.29 | 13.39 | 14.08 | 13.28 | 15.93 | 15.07 | 22.27 | 16.86 | 11.30 | 13.88 |
| — | +2.8% | -0.1% | -5.9% | -0.1% | +4.6% | +9.7% | +21.3% | +39.9% | +8.5% | +15.6% | -10.3% | -11.2% | -36.8% | -21.2% | +41.0% | +8.6% | +32.8% | +0.6% | -25.6% | +2.2% | |
| EV / EBIT | 23.60 | 17.22 | 23.59 | 23.15 | 26.40 | 21.59 | 23.93 | 18.81 | 28.47 | 20.80 | 21.57 | 19.25 | 19.33 | 15.99 | 17.86 | 63.38 | 19.97 | 30.20 | 55.03 | 53.01 | 21.54 |
| — | -20.3% | -1.4% | +23.1% | -7.3% | +3.8% | +11.0% | -2.3% | +47.3% | +30.1% | +20.8% | -69.6% | -3.2% | -47.1% | -67.6% | +19.5% | -7.3% | +20.2% | +124.6% | +125.8% | +12.2% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 36.7% | 69.9% | 31.1% | 33.6% | 97.1% | 96.8% | 96.8% | 96.7% | 96.6% | 96.7% | 96.6% | 96.5% | 96.4% | 95.9% | 96.8% | 96.8% | 96.9% | 96.4% | 95.7% | 94.1% | 95.7% |
| — | -27.8% | -67.8% | -65.3% | +0.5% | +0.1% | +0.1% | +0.2% | +0.3% | +0.9% | -0.2% | -0.3% | -0.6% | -0.5% | +1.1% | +2.9% | +1.3% | -0.7% | -1.6% | -3.0% | +0.7% | |
| Operating Margin | 51.5% | 41.1% | 45.2% | 47.2% | 49.1% | 53.7% | 53.6% | 50.0% | 56.1% | 57.9% | 55.5% | 56.3% | 56.3% | 54.6% | 56.3% | 50.9% | 55.2% | 42.1% | 55.9% | 94.5% | 63.1% |
| — | -23.4% | -15.6% | -5.8% | -12.5% | -7.2% | -3.5% | -11.1% | -0.5% | +6.0% | -1.4% | +10.6% | +2.1% | +29.5% | +0.8% | -46.2% | -12.6% | -32.6% | -8.9% | +41.8% | -5.5% | |
| Net Margin | 37.6% | 45.9% | 34.6% | 35.8% | 36.6% | 40.8% | 38.3% | 50.4% | 34.4% | 41.5% | 38.0% | 40.3% | 36.6% | 51.1% | 41.9% | 2.6% | 45.2% | 36.2% | 11.8% | 9.3% | 41.7% |
| — | +12.5% | -9.5% | -29.0% | +6.3% | -1.7% | +0.8% | +25.0% | -6.1% | -18.8% | -9.3% | +1429.7% | -18.9% | +41.2% | +255.5% | -71.6% | +8.2% | -31.4% | -73.0% | -79.7% | -17.4% |
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 9.7% | 3.6% | 2.6% | 2.5% | 2.2% | 2.5% | 2.4% | 3.3% | 2.3% | 2.8% | 2.4% | 2.5% | 2.3% | 3.1% | 2.7% | 0.1% | 2.5% | 1.5% | 0.6% | 0.4% | 2.0% |
| — | +42.3% | +8.1% | -23.5% | -3.5% | -9.7% | -0.8% | +31.0% | -0.4% | -9.7% | -9.0% | +1661.7% | -9.3% | +106.5% | +378.6% | -66.3% | +26.8% | -40.5% | -75.6% | -82.8% | -30.0% | |
| ROA | 5.3% | 1.9% | 1.4% | 1.4% | 1.2% | 1.4% | 1.3% | 1.7% | 1.2% | 1.4% | 1.2% | 1.3% | 1.2% | 1.6% | 1.4% | 0.1% | 1.4% | 0.8% | 0.3% | 0.2% | 1.0% |
| — | +40.9% | +11.4% | -18.4% | +5.5% | -5.1% | +1.6% | +32.6% | -1.5% | -10.0% | -8.9% | +1629.5% | -13.2% | +96.6% | +359.4% | -67.0% | +31.5% | -35.8% | -73.4% | -81.0% | -23.8% | |
| ROIC | 5.6% | 1.3% | 1.4% | 1.4% | 1.3% | 1.4% | 1.4% | 1.3% | 1.5% | 1.5% | 1.4% | 1.4% | 1.4% | 1.3% | 1.4% | 1.1% | 1.3% | 0.7% | 1.1% | 1.8% | 1.2% |
| — | -5.6% | +1.8% | +9.6% | -12.1% | -8.5% | -0.4% | -5.7% | +4.4% | +17.5% | -0.7% | +25.3% | +8.8% | +79.4% | +29.9% | -37.5% | +6.6% | -37.6% | -11.7% | +31.7% | -13.5% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.76 | 0.81 | 0.83 | 0.76 | 0.74 | 0.75 | 0.87 | 0.83 | 0.91 | 0.90 | 0.90 | 0.89 | 0.89 | 0.88 | 0.91 | 0.89 | 0.84 | 0.78 | 0.84 | 0.83 | 0.84 |
| — | +8.9% | -5.2% | -8.7% | -18.8% | -16.9% | -2.7% | -7.1% | +1.9% | +2.2% | -1.5% | +0.1% | +6.3% | +12.5% | +8.8% | +7.8% | +0.6% | -15.7% | -14.6% | -16.6% | -18.4% | |
| Debt / EBITDA | 4.18 | 17.04 | 16.53 | 16.03 | 17.25 | 16.31 | 18.84 | 18.61 | 17.68 | 17.05 | 18.15 | 18.35 | 18.27 | 18.84 | 18.37 | 21.54 | 18.69 | 25.68 | 21.49 | 14.70 | 19.42 |
| — | +4.4% | -12.3% | -13.9% | -2.4% | -4.3% | +3.8% | +1.4% | -3.2% | -9.5% | -1.2% | -14.8% | -2.3% | -26.6% | -14.5% | +46.6% | -3.7% | +18.9% | -1.8% | -26.6% | -2.7% | |
| Current Ratio | 2.48 | 0.59 | 0.83 | 2.48 | 2.09 | 0.82 | 0.97 | 0.96 | 0.90 | 1.13 | 1.19 | 1.16 | 1.05 | 1.08 | 0.41 | 3.42 | 5.22 | 5.50 | 8.96 | 7.34 | 6.54 |
| — | -27.7% | -14.6% | +159.1% | +131.3% | -28.0% | -18.3% | -17.2% | -13.9% | +5.1% | +192.3% | -66.2% | -79.9% | -80.4% | -95.5% | -53.4% | -20.2% | -4.1% | +48.8% | +264.8% | +48.3% | |
| Quick Ratio | 2.48 | 0.59 | 0.83 | 2.48 | 2.09 | 0.82 | 0.97 | 0.96 | 0.90 | 1.13 | 1.19 | 1.16 | 1.05 | 1.08 | 0.41 | 3.42 | 5.22 | 5.50 | 8.96 | 7.34 | 6.54 |
| — | -27.7% | -14.6% | +159.1% | +131.3% | -28.0% | -18.3% | -17.2% | -13.9% | +5.1% | +192.3% | -66.2% | -79.9% | -80.4% | -95.5% | -53.4% | -20.2% | -4.1% | +48.8% | +264.8% | +48.3% | |
| Interest Coverage | 3.45 | 4.55 | 3.64 | 3.83 | — | 3.61 | 3.29 | 4.05 | 2.83 | 3.50 | — | — | — | — | — | 1.13 | — | — | — | 1.48 | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 47 years · Updated daily
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Quick answers to the most common questions about buying NHI stock.
National Health Investors, Inc.'s current P/E is 20.7x. The average P/E over the last 4 quarters is 23.5x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
National Health Investors, Inc.'s current operating margin is 51.5%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking National Health Investors, Inc.'s business trajectory between earnings reports.