National Healthcare Properties, Inc.(NHPAP)Earnings, Financials & Key Ratios
NHPAP•NASDAQ•REIT / Real Estate
Price updated Jun 19, 2026
AboutNational Healthcare Properties, Inc. operates as a real estate investment trust. It operates through the Medical Office Buildings and Senior Housing Operating Properties segments. The company was founded on October 15, 2012 and is headquartered in New York, NY.Show more
- Revenue$342M-3.3%
- FFO$23M+121.3%
- FFO/Share0.80+121.3%
- FFO Payout59.67%
- FFO per Share0.80+121.3%
- NOI Margin36.05%-3.9%
- FFO Margin6.58%+122.0%
- ROE-8.9%+62.7%
- ROA-3.15%+66.0%
NHPAP Key Insights
National Healthcare Properties, Inc. (NHPAP) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓FFO growing 121.7% TTM
- ✓Sustainable FFO payout ratio of 59.7%
- ✓Healthy dividend yield of 2.1%
- ✓Trading near 52-week high
- ✓Trading at only 1.1x book value
✗Weaknesses
- ✗Low NOI margin of 36.0%
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
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NHPAP Price & Volume
National Healthcare Properties, Inc. (NHPAP) stock price & volume — 10-year historical chart
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NHPAP Growth Metrics
National Healthcare Properties, Inc. (NHPAP) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years3.3%
5 Years-2.15%
3 Years0.63%
TTM-3.25%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM69.62%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM-10.09%
Return on Capital
10 Years-1.52%
5 Years-2.4%
3 Years-2.58%
Last Year0.23%
NHPAP Recent Earnings
National Healthcare Properties, Inc. (NHPAP) EPS & revenue vs analyst estimates — last 4 quarters
●Beat Revenue 0/5 qtrs (0%)
Q2 2026Latest
May 13, 2026Metric
Actual
Est
EPS
$0.27
—
Rev
$86M-11.6%
$98M
Q1 2026
Feb 20, 2026Metric
Actual
Est
EPS
$0.91
—
Rev
$84M-13.5%
$98M
Q4 2025
Dec 31, 2025Metric
Actual
Est
EPS
$0.80
—
Rev
$84M-13.5%
$98M
Q4 2025
Nov 5, 2025Metric
Actual
Est
EPS
$0.44
—
Rev
$86M
—
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 13, 2026 | $0.27 | $86Mvs $98M-11.6% |
| Q1 2026 | Feb 20, 2026 | $0.91 | $84Mvs $98M-13.5% |
| Q4 2025 | Dec 31, 2025 | $0.80 | $84Mvs $98M-13.5% |
| Q4 2025 | Nov 5, 2025 | $0.44 | $86M |
Based on last 5 quarters of dataView full earnings history →
NHPAP Peer Comparison
National Healthcare Properties, Inc. (NHPAP) competitors in Non-Industrial Diversified REITs — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 NHI | 3.43B | 70.82 | 23.45 | 12.93% | 36.76% | 9.78% | 0.76 | |
 OHI | 13.26B | 44.53 | 22.95 | 13.95% | 51.02% | 11.85% | 0.78 | |
 SBRA | 4.57B | 18.12 | 28.31 | 10.15% | 19.21% | 5.6% | 0.90 | |
 LTC | 1.86B | 36.37 | 14.43 | 25.26% | 39.08% | 10.9% | 0.73 | |
 CTRE | 8.76B | 37.06 | 23.61 | 108.79% | 71.55% | 8.63% | 0.22 | |
 GMRE | 94.26M | 35.74 | 115.29 | 7.08% | -8.18% | -2.31% | ||
 VTR | 38.8B | 81.61 | 151.13 | 18.47% | 4.25% | 2.08% | 1.05 | |
 WELL | 144.78B | 206.65 | 148.67 | 35.82% | 12.31% | 3.49% | 0.49 |
Compare NHPAP vs Peers
National Healthcare Properties, Inc. (NHPAP) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
NHPAP Income Statement
National Healthcare Properties, Inc. (NHPAP) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
Revenue | 311M | 362.41M | 374.91M | 381.61M | 329.36M | 335.85M | 345.93M | 353.79M | 342.28M |
Revenue Growth % | 2.85% | 16.53% | 3.45% | 1.79% | -13.69% | 1.97% | 3% | 2.27% | -3.25% |
Property Operating Expenses | 286M | 221M | 234.19M | 243.55M | 205.81M | 213.44M | 217.79M | 221.15M | 218.9M |
Net Operating Income (NOI) | 25M▲ 0% | 141.41M▲ 465.7% | 140.73M▼ 0.5% | 138.06M▼ 1.9% | 123.54M▼ 10.5% | 122.4M▼ 0.9% | 128.13M▲ 4.7% | 132.65M▲ 3.5% | 123.38M▼ 7.0% |
NOI Margin % | 8.04% | 39.02% | 37.54% | 36.18% | 37.51% | 36.45% | 37.04% | 37.49% | 36.05% |
Operating Expenses | 0 | 144.59M | 172.52M | 157.94M | 160.98M | 153.94M | 132.87M | 256.19M | 120.08M |
G&A Expenses | 0 | 17.27M | 20.53M | 21.57M | 16.83M | 17.29M | 18.93M | 22.74M | 24.19M |
EBITDA | 83.78M | 80.04M | 49.24M | 61.1M | 42.29M | 50.52M | 78.14M | -39.47M | 83.45M |
EBITDA Margin % | 26.94% | 22.08% | 13.13% | 16.01% | 12.84% | 15.04% | 22.59% | -11.16% | 24.38% |
Depreciation & Amortization | 77.64M | 83.21M | 81.03M | 80.97M | 79.73M | 82.06M | 82.87M | 84.07M | 80.15M |
D&A / Revenue % | 24.96% | 22.96% | 21.61% | 21.22% | 24.21% | 24.44% | 23.96% | 23.76% | 23.42% |
Operating Income | 6.14M▲ 0% | -3.18M▼ 151.7% | -31.79M▼ 900.9% | -19.87M▲ 37.5% | -37.44M▼ 88.4% | -31.54M▲ 15.7% | -4.74M▲ 85.0% | -123.54M▼ 2507.5% | 3.3M▲ 102.7% |
Operating Margin % | 1.97% | -0.88% | -8.48% | -5.21% | -11.37% | -9.39% | -1.37% | -34.92% | 0.96% |
Interest Expense | 0 | 49.47M | 56.06M | 51.52M | 47.9M | 51.74M | 66.08M | 69.45M | 71.65M |
Interest Coverage | - | -0.07x | -0.57x | -0.39x | -0.78x | -0.53x | -0.09x | -1.53x | 0.29x |
Non-Operating Income | 0 | 134K | 61K | 58K | -98K | -3.86M | 1.26M | -23.52M | -17.63M |
Pretax Income | -42.06M▲ 0% | -52.78M▼ 25.5% | -87.91M▼ 66.6% | -71.45M▲ 18.7% | -85.24M▼ 19.3% | -79.42M▲ 6.8% | -72.08M▲ 9.2% | -190M▼ 163.6% | -57.52M▲ 69.7% |
Pretax Margin % | -13.53% | -14.56% | -23.45% | -18.72% | -25.88% | -23.65% | -20.84% | -53.7% | -16.81% |
Income Tax | 647K | 197K | 399K | 4.06M | 203K | 201K | 303K | 262K | 161K |
Effective Tax Rate % | -1.54% | -0.37% | -0.45% | -5.68% | -0.24% | -0.25% | -0.42% | -0.14% | -0.28% |
Net Income | -42.55M▲ 0% | -52.76M▼ 24.0% | -87.91M▼ 66.6% | -75.81M▲ 13.8% | -85.18M▼ 12.4% | -79.49M▲ 6.7% | -72.3M▲ 9.0% | -189.7M▼ 162.4% | -57.62M▲ 69.6% |
Net Margin % | -13.68% | -14.56% | -23.45% | -19.87% | -25.86% | -23.67% | -20.9% | -53.62% | -16.83% |
Net Income Growth % | -103.83% | -24.01% | -66.62% | 13.76% | -12.36% | 6.68% | 9.04% | -162.38% | 69.62% |
Funds From Operations (FFO) | 35.09M▲ 0% | 30.45M▼ 13.2% | -6.89M▼ 122.6% | 5.16M▲ 174.9% | -5.45M▼ 205.7% | 2.58M▲ 147.3% | 10.57M▲ 310.2% | -105.63M▼ 1098.9% | 22.53M▲ 121.3% |
FFO Margin % | 11.28% | 8.4% | -1.84% | 1.35% | -1.66% | 0.77% | 3.06% | -29.86% | 6.58% |
FFO Growth % | -55.02% | -13.23% | -122.61% | 174.93% | -205.66% | 147.29% | 310.2% | -1098.86% | 121.33% |
FFO per Share | 1.30 | 1.11 | -0.25 | 0.19 | -0.19 | 0.09 | 0.37 | -3.73 | 0.80 |
FFO Payout Ratio % | 218.61% | 181.7% | -746.83% | 607.64% | 0% | 535.26% | 130.5% | 0% | 59.67% |
EPS (Diluted) | -1.57▲ 0% | -1.90▼ 21.2% | 0.00▲ 100.0% | -2.79▲ 0% | -3.29▼ 17.9% | -3.30▼ 0.3% | -3.04▲ 7.9% | -7.19▼ 136.5% | -2.51▲ 65.1% |
EPS Growth % | -98.73% | -21.23% | 100% | - | -17.92% | -0.3% | 7.88% | -136.51% | 65.09% |
EPS (Basic) | -1.57 | -1.90 | 0.00 | -2.79 | -3.29 | -3.30 | -3.04 | -7.19 | -2.51 |
Diluted Shares Outstanding | 27.05M | 27.45M | 27.7M | 27.76M | 28.24M | 28.26M | 28.28M | 28.29M | 28.3M |
NHPAP Balance Sheet
National Healthcare Properties, Inc. (NHPAP) 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 |
|---|---|---|---|---|---|---|---|---|---|
Total Assets | 2.37B | 2.38B | 2.33B | 2.29B | 2.21B | 2.18B | 2.15B | 1.95B | 1.71B |
Asset Growth % | 8.12% | 0.24% | -2.19% | -1.65% | -3.17% | -1.54% | -1.61% | -9.28% | -12.04% |
Real Estate & Other Assets | 0 | 0 | 1.84B | 1.88B | 1.81B | 1.78B | 1.73B | 1.79B | 45.81M |
PP&E (Net) | 0 | 0 | 14.35M | 13.91M | 7.91M | 7.81M | 7.71M | 7.48M | 7.38M |
Investment Securities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1000K |
Total Current Assets | 0 | 0 | 203.62M | 113.76M | 109.24M | 101.81M | 117.64M | 96.94M | 139.19M |
Cash & Equivalents | 102.59M | 91.36M | 95.69M | 72.36M | 59.74M | 53.65M | 46.41M | 21.65M | 108.45M |
Receivables | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
Other Current Assets | -117.92M | -108.71M | 47.04M | -16.85M | -6.92M | -11.67M | 44.91M | 52.44M | 0 |
Intangible Assets | 0 | 0 | 21.18M | 23.32M | 23.86M | 25.28M | 26.32M | 55.37M | 0 |
Total Liabilities | 1.02B | 1.14B | 1.22B | 1.33B | 1.17B | 1.18B | 1.24B | 1.26B | 1.11B |
Total Debt | 960.33M | 1.08B | 1.14B | 1.23B | 1.09B | 1.12B | 1.18B | 1.15B | 1.09B |
Net Debt | 857.74M | 991.21M | 1.05B | 1.15B | 1.03B | 1.06B | 1.13B | 1.13B | 978.87M |
Long-Term Debt | 857.97M | 1.03B | 528.28M | 542.7M | 584.24M | 578.7M | 809M | 1.14B | 721.96M |
Short-Term Borrowings | 83.53M | 38.35M | 605.27M | 674.55M | 502.05M | 530.3M | 361.03M | 362.22M | 336.68M |
Capital Lease Obligations | 18.83M | 17.1M | 21.18M | 9.15M | 8.13M | 8.09M | 8.04M | 12.19M | 28.69M |
Total Current Liabilities | 0 | 0 | 663.78M | 724.48M | 556.78M | 584.97M | 419.38M | 462.5M | 336.68M |
Accounts Payable | 0 | 0 | 43.09M | 42.27M | 42.71M | 45.25M | 48.36M | 89.58M | 44.38M |
Deferred Revenue | 6.2M | 7.01M | 8.52M | 6.91M | 8.62M | 5.92M | 6.5M | 7.22M | 9.25M |
Other Liabilities | -883M | -1.05B | 8.84M | 42.28M | 24.85M | 9.41M | 8.16M | 6.13M | 10.68M |
Total Equity | 1.36B▲ 0% | 1.24B▼ 8.5% | 1.11B▼ 10.8% | 961.37M▼ 13.1% | 1.04B▲ 8.2% | 999.19M▼ 4.0% | 900.58M▼ 9.9% | 690.13M▼ 23.4% | 604.52M▼ 12.4% |
Equity Growth % | -9.86% | -8.49% | -10.81% | -13.14% | 8.22% | -3.96% | -9.87% | -23.37% | -12.4% |
Shareholders Equity | 1.35B | 1.23B | 1.1B | 956.99M | 1.03B | 992.64M | 894.15M | 684.56M | 600.06M |
Minority Interest | 8.51M | 7.8M | 5.41M | 4.39M | 6.7M | 6.55M | 6.43M | 5.57M | 4.46M |
Common Stock | 910K | 919K | 923K | 938K | 993K | 1.05M | 1.11M | 1.13M | 1.13M |
Additional Paid-in Capital | 2.01B | 2.03B | 2.08B | 2.1B | 2.33B | 2.42B | 2.51B | 2.53B | 2.53B |
Retained Earnings | -665.03M | -804.33M | -971.19M | -1.11B | -1.28B | -1.46B | -1.64B | -1.87B | -1.94B |
Preferred Stock | 0 | 0 | 16K | 16K | 76K | 76K | 76K | 76K | 73K |
Return on Assets (ROA) | -1.86% | -2.22% | -3.74% | -3.29% | -3.78% | -3.62% | -3.34% | -9.27% | -3.15% |
Return on Equity (ROE) | -2.97% | -4.06% | -7.49% | -7.33% | -8.51% | -7.79% | -7.61% | -23.85% | -8.9% |
Debt / Assets | 40.49% | 45.53% | 49.14% | 53.63% | 49.42% | 51.23% | 54.92% | 59.07% | 63.52% |
Debt / Equity | 0.71x | 0.87x | 1.03x | 1.28x | 1.05x | 1.12x | 1.31x | 1.67x | 1.80x |
Net Debt / EBITDA | 10.24x | 12.38x | 21.26x | 18.89x | 24.46x | 21.05x | 14.48x | - | 11.73x |
Book Value per Share | 50.13 | 45.21 | 39.96 | 34.64 | 36.84 | 35.36 | 31.84 | 24.40 | 21.36 |
NHPAP Cash Flow Statement
National Healthcare Properties, Inc. (NHPAP) 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 |
|---|---|---|---|---|---|---|---|---|---|
Cash from Operations | 63.97M | 54.15M | 47.4M | 41.81M | 38.88M | 28.3M | 21.62M | -79.85M | 6.95M |
Operating CF Growth % | -18.75% | -15.35% | -12.46% | -11.81% | -7% | -27.22% | -23.58% | -469.25% | 108.71% |
Operating CF / Revenue % | 20.57% | 14.94% | 12.64% | 10.96% | 11.8% | 8.42% | 6.25% | -22.57% | 2.03% |
Net Income | -42.55M | -52.98M | -88.31M | -75.51M | -85.44M | -79.62M | -72.38M | -190.26M | -57.62M |
Depreciation & Amortization | 77.64M | 83.21M | 81.03M | 80.97M | 79.73M | 81.44M | 81.98M | 82.64M | 84.91M |
Stock-Based Compensation | 0 | 1.24M | 1.32M | 1.34M | 1.33M | 1.19M | 919K | 613K | 0 |
Other Non-Cash Items | 36.3M | 44.05M | 62.72M | 38.99M | 43.69M | 32.72M | 16.4M | 24.21M | 25.29M |
Working Capital Changes | -7.43M | -21.63M | -9.36M | -8.63M | 57K | -10.18M | -6.46M | 558K | -45.62M |
Cash from Investing | -193.94M | -115.06M | -46.25M | -82.49M | -47.92M | -41.78M | -62.82M | 63.97M | 69.81M |
Acquisitions (Net) | 1.34M | 0 | 0 | 0 | 0 | 0 | 284K | 0 | 0 |
Purchase of Investments | -188.93M | -128.06M | -92M | -94.98M | -159.3M | -25.54M | -9.96M | -5.61M | 0 |
Sale of Investments | 757K | 25.9M | 62.47M | 34.38M | 130.45M | 11.75M | 4.8M | 93.19M | 0 |
Other Investing | 1.18M | -102.15M | -29.53M | -60.6M | -28.85M | -13.79M | -9.96M | -1.71M | 98.53M |
Cash from Financing | 199.37M | 49.68M | 19.09M | 19.43M | 4.08M | 4.64M | 55.97M | -1.35M | -42.4M |
Dividends Paid | -76.72M | -55.33M | -51.43M | -33.75M | -5.14M | -13.8M | -13.8M | -13.8M | -13.45M |
Common Dividends | 0 | -55.33M | -51.43M | -31.35M | 0 | 0 | 0 | 0 | 0 |
Debt Issuance (Net) | 1000K | 1000K | 1000K | 1000K | -1000K | 1000K | 1000K | 1000K | -1000K |
Share Repurchases | -33.6M | -14.2M | -21.11M | -10.54M | 0 | -42K | 0 | 0 | -612K |
Other Financing | -857K | -3.98M | -22.02M | -3.12M | -1.62M | -1.86M | -8.65M | -184K | -5.75M |
Net Change in Cash | 0▲ 0% | -11.23M▲ 0% | 20.24M▲ 280.2% | -21.25M▼ 205.0% | -4.96M▲ 76.6% | -8.84M▼ 78.2% | 14.78M▲ 267.1% | -17.22M▼ 216.5% | 34.36M▲ 299.5% |
Exchange Rate Effect | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Cash at Beginning | 33.19M | 102.59M | 91.36M | 111.6M | 90.35M | 85.38M | 76.54M | 91.32M | 74.09M |
Cash at End | 102.59M | 91.36M | 111.6M | 90.35M | 85.38M | 76.54M | 91.32M | 74.09M | 108.45M |
Free Cash Flow | 55.69M▲ 0% | 41.24M▼ 25.9% | 30.68M▼ 25.6% | 19.91M▼ 35.1% | 19.81M▼ 0.5% | 302K▼ 98.5% | -773K▼ 356.0% | -101.75M▼ 13063.5% | -21.77M▲ 78.6% |
FCF Growth % | -21.84% | -25.94% | -25.6% | -35.1% | -0.54% | -98.48% | -355.96% | -13063.52% | 78.6% |
FCF / Revenue % | 17.91% | 11.38% | 8.18% | 5.22% | 6.01% | 0.09% | -0.22% | -28.76% | -6.36% |
NHPAP Key Ratios
National Healthcare Properties, Inc. (NHPAP) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
FFO per Share | 2.95 | 1.3 | 1.11 | -0.25 | 0.19 | -0.19 | 0.09 | 0.37 | -3.73 | 0.8 |
FFO Payout Ratio | 96.69% | 218.61% | 181.7% | -746.83% | 607.64% | 0% | 535.26% | 130.5% | 0% | 59.67% |
NOI Margin | 3.64% | 8.04% | 39.02% | 37.54% | 36.18% | 37.51% | 36.45% | 37.04% | 37.49% | 36.05% |
Net Debt / EBITDA | 6.46x | 10.24x | 12.38x | 21.26x | 18.89x | 24.46x | 21.05x | 14.48x | - | 11.73x |
Debt / Assets | 29.38% | 40.49% | 45.53% | 49.14% | 53.63% | 49.42% | 51.23% | 54.92% | 59.07% | 63.52% |
Interest Coverage | - | - | -0.07x | -0.57x | -0.39x | -0.78x | -0.53x | -0.09x | -1.53x | 0.29x |
Book Value / Share | 56.82 | 50.13 | 45.21 | 39.96 | 34.64 | 36.84 | 35.36 | 31.84 | 24.4 | 21.36 |
Revenue Growth | 22.28% | 2.85% | 16.53% | 3.45% | 1.79% | -13.69% | 1.97% | 3% | 2.27% | -3.25% |
Related:NHPAP Dividend History·NHPAP Revenue History·NHPAP Price History·NHPAP P/E History·NHPAP Financial Ratios·NHPAP Institutional Holders
NHPAP Frequently Asked Questions
National Healthcare Properties, Inc. (NHPAP) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
National Healthcare Properties, Inc. (NHPAP) reported $342.3M in revenue for fiscal year 2025. This represents a 486% increase from $58.4M in 2014.
National Healthcare Properties, Inc. (NHPAP) saw revenue decline by 3.3% over the past year.
National Healthcare Properties, Inc. (NHPAP) reported a net loss of $57.6M for fiscal year 2025.
Dividend & Returns
Yes, National Healthcare Properties, Inc. (NHPAP) pays a dividend with a yield of 2.10%. This makes it attractive for income-focused investors.
National Healthcare Properties, Inc. (NHPAP) has a return on equity (ROE) of -8.9%. Negative ROE indicates the company is unprofitable.
Industry Metrics
National Healthcare Properties, Inc. (NHPAP) generated Funds From Operations (FFO) of $22.8M in the trailing twelve months. FFO is the primary profitability metric for REITs.