National Health Investors, Inc. (NHI) P/E Ratio History
Historical price-to-earnings valuation from 1992 to 2025
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Valuation Context
How does the current P/E compare to historical and market benchmarks?
P/E Ratio Analysis
As of February 28, 2026, National Health Investors, Inc. (NHI) trades at a price-to-earnings ratio of 27.8x, with a stock price of $84.07 and trailing twelve-month earnings per share of $3017.44.
The current P/E is roughly in line with its 5-year average of 29.2x. Over the past five years, NHI's P/E has ranged from a low of 17.1x to a high of 58.8x, placing the current valuation at the 65th percentile of its historical range.
Compared to the Real Estate sector median P/E of 23.4x, NHI trades at a 19% premium to its sector peers. The sector includes 170 companies with P/E ratios ranging from 1.8x to 176.8x.
Relative to the broader market, NHI trades roughly in line with the S&P 500 median P/E of 26.2x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our NHI DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
Peer Comparison
P/E metrics vs. Senior housing and skilled nursing peers
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
OHIOmega Healthcare Investors, Inc. | $13B | 31.1 | - | +55% |
CTRECareTrust REIT, Inc. | $9B | 25.9 | 1.22Best | +96%Best |
NHINational Health Investors, Inc. | $4B | 27.8 | - | -4% |
LTCLTC Properties, Inc. | $2B | 15.7Lowest | - | +24% |
STRWStrawberry Fields REIT LLC | $168M | 22.5 | - | +46% |
Peers sorted by market capitalization. P/E below peers may indicate undervaluation or lower growth expectations. Consider PEG ratio for growth-adjusted comparison.
Historical P/E Data
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Date | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2025 Q4 | Wed Dec 31 2025 00:00:00 GM | $76.37 | $3.02 | 25.3x | +43% |
| FY2025 Q3 | $79.50 | $3.17 | 25.1x | +42% | |
| FY2025 Q2 | Mon Jun 30 2025 00:00:00 GM | $70.12 | $3.13 | 22.4x | +26% |
| FY2025 Q1 | Mon Mar 31 2025 00:00:00 GM | $73.86 | $3.15 | 23.4x | +32% |
| FY2024 Q4 | $69.30 | $3.12 | 22.2x | +25% | |
| FY2024 Q3 | Mon Sep 30 2024 00:00:00 GM | $84.06 | $2.91 | 28.9x | +63% |
| FY2024 Q2 | Sun Jun 30 2024 00:00:00 GM | $67.73 | $2.94 | 23.0x | +30% |
| FY2024 Q1 | Sun Mar 31 2024 00:00:00 GM | $62.83 | $3.05 | 20.6x | +16% |
| FY2023 Q4 | Sun Dec 31 2023 00:00:00 GM | $55.85 | $2.52 | 22.2x | +25% |
| FY2023 Q3 | Sat Sep 30 2023 00:00:00 GM | $51.36 | $1.82 | 28.2x | +59% |
| FY2023 Q2 | Fri Jun 30 2023 00:00:00 GM | $52.42 | $1.92 | 27.3x | +54% |
| FY2023 Q1 | Fri Mar 31 2023 00:00:00 GM | $51.58 | $1.25 | 41.2x | +132% |
Average P/E for displayed period: 17.7x
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Start ComparisonFrequently Asked Questions
Is NHI stock overvalued or undervalued?
NHI trades at 27.8x P/E, near its 5-year average of 29.2x. The 65th percentile ranking places valuation within normal historical bounds.
How does NHI's valuation compare to peers?
National Health Investors, Inc. P/E of 27.8x compares to sector median of 23.4x. The premium reflects expected growth above peers.
What is NHI's PEG ratio?
NHI PEG ratio is N/A. Above 2.0 indicates premium valuation relative to growth rate. Historical P/E data spans 1992-2025.