CoverageForm 410-K10-Q8-K13D13G13F

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.

Price · NHI

Income Statement

Line itemFY 2025FY 2024FY 2023FY 2022FY 2021FY 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 itemFY 2025FY 2024FY 2023FY 2022FY 2021FY 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 itemFY 2025FY 2024FY 2023FY 2022FY 2021FY 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

MetricFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Profitability
Gross margin------
Operating margin------
EBITDA margin------
Net margin37.9%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-0.400.360.992.631.440.62
R&D / Revenue------
SG&A / Revenue7.2%6.2%6.0%8.2%6.2%4.0%
Effective tax rate------
Return on assets5.1%5.3%5.5%2.6%3.9%5.9%
Return on equity9.3%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 multiplier1.841.911.981.971.882.06
Liabilities / Assets0.450.470.490.490.470.51
Efficiency
Asset turnover0.130.130.130.110.110.11
Inventory turnover------
Days sales outstanding---5d4d3d
Days inventory outstanding------
Days payable outstanding------
Cash conversion cycle------
Valuation
P / E25.3x22.1x17.8x35.3x23.6x16.7x
P / B2.4x2.2x1.9x1.8x1.7x2.0x
P / S9.6x9.1x7.6x8.4x8.8x9.3x
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 total
Real 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

CompanyRevenue (last FY)Net marginROE
UMH$261.75M2.3%0.7%
ARE---9.2%
VTR$5.83B4.3%2.0%
SPG$6.36B72.7%88.8%
NYSE: KRC$1.11B0.0%0.0%

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-datePer 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