NHI · National Health Investors Inc - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $115.13M | - | $89.85M | $90.66M | $89.30M | - | $82.94M | $84.97M | $81.51M | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $7.85M | - | $6.31M | $6.13M | $6.83M | - | $4.81M | $4.87M | $5.64M | - |
| Total Operating Expenses | $78.03M | - | $57.55M | $55.61M | $56.01M | - | $54.80M | $51.77M | $51.12M | - |
| D&A | $23.69M | - | $20.22M | $19.92M | $19.16M | - | $17.77M | $17.49M | $17.50M | - |
| Operating Income | - | - | - | - | - | - | - | - | - | - |
| Interest Expense | $15.04M | - | $13.77M | $15.00M | $14.34M | - | $14.94M | $14.85M | $14.87M | - |
| Income Tax | - | - | - | - | - | - | - | - | - | - |
| Net Income | $40.10M | - | $32.86M | $36.99M | $34.16M | - | $28.54M | $35.26M | $30.95M | - |
| EPS - Basic | $0.83 | - | $0.69 | $0.79 | $0.75 | - | $0.66 | $0.81 | $0.71 | - |
| EPS - Diluted | $0.82 | - | $0.69 | $0.79 | $0.74 | - | $0.65 | $0.81 | $0.71 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $24.95M | $19.62M | $81.63M | $18.64M | $135.00M | $24.29M | $15.55M | $14.77M | $11.36M | $22.35M |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | - | - | - | - | - | - | - | - | - | - |
| Current Assets | - | - | - | - | - | - | - | - | - | - |
| Total Assets | $2.89B | $2.80B | $2.69B | $2.70B | $2.78B | $2.61B | $2.46B | $2.48B | $2.48B | $2.49B |
| Current Liabilities | - | - | - | - | - | - | - | - | - | - |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | $1.36B | $1.26B | $1.19B | $1.20B | $1.34B | $1.23B | $1.21B | $1.21B | $1.21B | $1.21B |
| Stockholders' Equity | $1.51B | $1.52B | $1.48B | $1.48B | $1.43B | $1.37B | $1.23B | $1.24B | $1.25B | $1.25B |
| Retained Earnings | $2.79B | $2.75B | $2.71B | $2.68B | $2.64B | $2.60B | $2.56B | $2.53B | $2.50B | $2.47B |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $53.44M | - | - | - | $46.48M | - | - | - | $40.83M | - |
| Investing Cash Flow | ($103.89M) | - | - | - | ($75.47M) | - | - | - | ($16.19M) | - |
| Financing Cash Flow | $55.77M | - | - | - | $139.77M | - | - | - | ($35.92M) | - |
| CapEx | $85.17M | - | - | - | - | - | - | - | - | - |
| Free Cash Flow | ($31.73M) | - | - | - | - | - | - | - | - | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | - | - | - | - | - | - | - |
| Operating margin | - | - | - | - | - | - | - | - | - | - |
| EBITDA margin | - | - | - | - | - | - | - | - | - | - |
| Net margin | 34.8% | - | 36.6% | 40.8% | 38.3% | - | 34.4% | 41.5% | 38.0% | - |
| Free cash flow margin | -27.6% | - | - | - | - | - | - | - | - | - |
| FCF / Net income | -0.79 | - | - | - | - | - | - | - | - | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 6.8% | - | 7.0% | 6.8% | 7.6% | - | 5.8% | 5.7% | 6.9% | - |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | 1.4% | - | 1.2% | 1.4% | 1.2% | - | 1.2% | 1.4% | 1.2% | - |
| Return on equity | 2.6% | - | 2.2% | 2.5% | 2.4% | - | 2.3% | 2.8% | 2.5% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | - | - | - | - | - | - | - | - | - | - |
| Quick ratio | - | - | - | - | - | - | - | - | - | - |
| Cash ratio | - | - | - | - | - | - | - | - | - | - |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | - | - | - | - | - | - | - | - | - | - |
| Equity multiplier | 1.91 | 1.84 | 1.82 | 1.82 | 1.95 | 1.91 | 2.00 | 1.99 | 1.99 | 1.98 |
| Liabilities / Assets | 0.47 | 0.45 | 0.44 | 0.44 | 0.48 | 0.47 | 0.49 | 0.49 | 0.49 | 0.49 |
| Efficiency | ||||||||||
| Asset turnover | 0.04 | - | 0.03 | 0.03 | 0.03 | - | 0.03 | 0.03 | 0.03 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | 98.6x | - | 115.2x | 88.8x | 99.8x | - | 129.3x | 83.6x | 88.5x | - |
| P / B | 2.6x | - | 2.6x | 2.2x | 2.4x | - | 3.0x | 2.4x | 2.2x | - |
| P / S | 34.1x | - | 42.1x | 36.2x | 37.9x | - | 44.6x | 34.7x | 33.5x | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 28.9% | - | 8.3% | 6.7% | 9.5% | - | 3.5% | 9.1% | -1.1% | - |
| Revenue CAGR (3y) | 11.8% | - | 5.6% | 14.8% | 7.8% | - | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - | 0.3% | 1.7% | 1.4% | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Net income growth (YoY) | 17.4% | - | 15.1% | 4.9% | 10.4% | - | -2.7% | -11.4% | -10.3% | - |
| EPS growth (YoY) | 10.8% | - | 6.2% | -2.5% | 4.2% | - | -4.4% | -12.0% | -10.1% | - |
| EPS CAGR (3y) | 1.3% | - | -4.0% | 18.9% | 60.2% | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | -7.7% | -2.5% | -3.1% | - |
| FCF growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 6.2% | 11.3% | 20.5% | 18.9% | 14.3% | 9.0% | -2.5% | -1.9% | -1.5% | -1.3% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$375.63M totalReal Estate Investment Segment$295.57M · 78.7%
Senior Housing Operating Portfolio$80.06M · 21.3%
Peer comparison
Same SIC group: Real Estate Investment Trusts
Comparing NATIONAL HEALTH INVESTORS INC against the 5 most active filers in the same SIC group.
Dividends
$3.66/share trailing 12 months · +1.7% YoY
| Ex-date | Per share |
|---|---|
| Mar 31, 2026 | $0.9200 |
| Dec 31, 2025 | $0.9200 |
| Sep 30, 2025 | $0.9200 |
| Jun 30, 2025 | $0.9000 |
| Mar 31, 2025 | $0.9000 |
| Dec 31, 2024 | $0.9000 |
| Sep 27, 2024 | $0.9000 |
| Jun 28, 2024 | $0.9000 |
| Mar 27, 2024 | $0.9000 |
| Dec 28, 2023 | $0.9000 |
| Sep 28, 2023 | $0.9000 |
| Jun 29, 2023 | $0.9000 |
| Mar 30, 2023 | $0.9000 |
| Dec 29, 2022 | $0.9000 |
| Sep 29, 2022 | $0.9000 |
| Jun 29, 2022 | $0.9000 |
| Mar 30, 2022 | $0.9000 |
| Dec 30, 2021 | $0.9000 |
| Sep 29, 2021 | $0.9000 |
| Jun 29, 2021 | $0.9000 |
| Mar 30, 2021 | $1.1030 |
| Dec 30, 2020 | $1.1030 |
| Sep 29, 2020 | $1.1030 |
| Jun 29, 2020 | $1.1030 |