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 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $375.63M | $335.18M | $319.83M | $278.19M | $298.71M | $332.81M |
| Cost of Revenue | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - |
| SG&A | $26.87M | $20.74M | $19.31M | $22.77M | $18.43M | $13.30M |
| Total Operating Expenses | $238.96M | $211.88M | $200.88M | $241.86M | $216.14M | $161.77M |
| D&A | $71.44M | $71.44M | $69.97M | $70.88M | $80.80M | $83.15M |
| Operating Income | - | - | - | - | - | - |
| Interest Expense | $57.37M | $59.90M | $58.16M | $44.92M | $50.81M | $52.88M |
| Income Tax | - | - | - | - | - | - |
| Net Income | $142.18M | $137.99M | $135.65M | $66.40M | $111.80M | $185.13M |
| EPS - Basic | $3.03 | $3.14 | $3.13 | $1.48 | $2.45 | $4.14 |
| EPS - Diluted | $3.02 | $3.13 | $3.13 | $1.48 | $2.44 | $4.14 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $19.62M | $24.29M | $22.35M | $19.29M | $37.41M | $43.34M |
| Accounts Receivable | - | - | - | $3.62M | $3.21M | $2.59M |
| Inventory | - | - | - | - | - | - |
| Accounts Payable | - | - | - | - | - | - |
| Current Assets | - | - | - | - | - | - |
| Total Assets | $2.80B | $2.61B | $2.49B | $2.51B | $2.84B | $3.12B |
| Current Liabilities | - | - | - | - | - | - |
| Long-term Debt | - | - | - | - | - | - |
| Total Liabilities | $1.26B | $1.23B | $1.21B | $1.22B | $1.32B | $1.60B |
| Stockholders' Equity | $1.52B | $1.37B | $1.25B | $1.27B | $1.51B | $1.51B |
| Retained Earnings | $2.75B | $2.60B | $2.47B | - | - | - |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $236.56M | $207.77M | $184.45M | $185.34M | $210.86M | $232.15M |
| Investing Cash Flow | ($269.15M) | ($192.31M) | ($11.63M) | $197.94M | $185.28M | ($89.71M) |
| Financing Cash Flow | $25.71M | ($13.57M) | ($169.72M) | ($401.25M) | ($402.99M) | ($111.76M) |
| CapEx | $294.03M | $157.93M | $49.56M | $10.99M | $50.35M | $116.72M |
| Free Cash Flow | ($57.47M) | $49.84M | $134.89M | $174.35M | $160.51M | $115.42M |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | - | - | - | - | - | - |
| Operating margin | - | - | - | - | - | - |
| EBITDA margin | - | - | - | - | - | - |
| Net margin | 37.9% | 41.2% | 42.4% | 23.9% | 37.4% | 55.6% |
| Free cash flow margin | -15.3% | 14.9% | 42.2% | 62.7% | 53.7% | 34.7% |
| FCF / Net income | -0.40 | 0.36 | 0.99 | 2.63 | 1.44 | 0.62 |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | 7.2% | 6.2% | 6.0% | 8.2% | 6.2% | 4.0% |
| Effective tax rate | - | - | - | - | - | - |
| Return on assets | 5.1% | 5.3% | 5.5% | 2.6% | 3.9% | 5.9% |
| Return on equity | 9.3% | 10.1% | 10.8% | 5.2% | 7.4% | 12.2% |
| Return on invested capital | - | - | - | - | - | - |
| Liquidity | ||||||
| Current ratio | - | - | - | - | - | - |
| Quick ratio | - | - | - | - | - | - |
| Cash ratio | - | - | - | - | - | - |
| Leverage | ||||||
| Debt / Equity | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - |
| Interest coverage | - | - | - | - | - | - |
| Equity multiplier | 1.84 | 1.91 | 1.98 | 1.97 | 1.88 | 2.06 |
| Liabilities / Assets | 0.45 | 0.47 | 0.49 | 0.49 | 0.47 | 0.51 |
| Efficiency | ||||||
| Asset turnover | 0.13 | 0.13 | 0.13 | 0.11 | 0.11 | 0.11 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | 5d | 4d | 3d |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | 25.3x | 22.1x | 17.8x | 35.3x | 23.6x | 16.7x |
| P / B | 2.4x | 2.2x | 1.9x | 1.8x | 1.7x | 2.0x |
| P / S | 9.6x | 9.1x | 7.6x | 8.4x | 8.8x | 9.3x |
| EV / EBITDA | - | - | - | - | - | - |
| Growth | ||||||
| Revenue growth (YoY) | 12.1% | 4.8% | 15.0% | -6.9% | -10.2% | 4.6% |
| Revenue CAGR (3y) | 10.5% | 3.9% | -1.3% | -4.4% | 0.5% | 6.1% |
| Revenue CAGR (5y) | 2.5% | 1.1% | 1.7% | -0.0% | 3.7% | 7.8% |
| Gross profit growth (YoY) | - | - | - | - | - | - |
| Operating income growth (YoY) | - | - | - | - | - | - |
| Net income growth (YoY) | 3.0% | 1.7% | 104.3% | -40.6% | -39.6% | 15.4% |
| EPS growth (YoY) | -3.5% | 0.0% | 111.5% | -39.3% | -41.1% | 12.8% |
| EPS CAGR (3y) | 26.8% | 8.7% | -8.9% | -26.1% | -12.7% | 2.3% |
| EPS CAGR (5y) | -6.1% | -3.1% | -3.1% | -17.5% | -8.8% | 0.9% |
| FCF growth (YoY) | - | -63.1% | -22.6% | 8.6% | 39.1% | 2962.5% |
| FCF CAGR (5y) | - | 67.6% | 17.5% | 51.9% | - | 23.4% |
| Book value growth (YoY) | 11.3% | 9.0% | -1.3% | -15.7% | -0.3% | 1.0% |
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%
Stability scores
Piotroski F-score
FY 2025 · 9-point quality
4/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- -Long-term debt decreased
- -Current ratio improved
- ✗No share dilution
- -Gross margin improved
- ✓Asset turnover improved
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 |