NATIONAL HEALTH INVESTORS INC

NHI

NATIONAL HEALTH INVESTORS INC

NHI

Insider Sentiment (TTM):

Last Purchase:2026-06-15Last Sale:-Shares Purchased (TTM):2,390Shares Sold (TTM):0

Institutional Sentiment:

As of:2026-03-31Institutional Shares Owned:31,962,626Shares Outstanding:48,323,945Institutional Ownership Pct.:66.14%

Earnings Market Reaction:

Filing Date:2026-08-10Price on Filing Date:N/APrevious Close:N/A% Change:N/A

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Financial Statements

10‑Q10‑K

Values in Millions ($)	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30
Assets
Real Estate
Land	233	231	222	209	209	202	192	181	181	181	181	181
Investment Building And Building Improvements	-	-	3,056	2,882	2,880	2,823	2,751	2,628	2,623	2,596	2,594	2,589
Construction In Progress Gross	19	19	18	12	8	7	11	11	8	6	6	7
Property Plant And Equipment Gross	3,283	3,399	3,296	3,104	3,098	3,032	2,954	2,820	2,812	2,783	2,780	2,777
Accumulated Depreciation Depletion And Amortizatio…	-716	-844	-822	-802	-781	-761	-742	-724	-706	-691	-673	-656
Property Plant And Equipment Net	2,566	2,555	2,474	2,303	2,316	2,270	2,211	2,097	2,106	2,093	2,107	2,120
Financing Receivable Excluding Accrued Interest Af…	-	206	203	209	253	260	269	233	241	259	245	243
Cash And Cash Equivalents At Carrying Value	30	25	20	82	19	135	24	16	15	11	22	17
Deferred Rent Receivables Net	75	79	79	78	89	88	87	86	85	84	85	84
Real Estate Heldforsale	31	4	4	-	-	-	0	6	6	5	5	11
Other Assets	52	21	18	19	19	30	23	23	24	26	24	25
Assets	2,964	2,890	2,797	2,690	2,696	2,783	2,614	2,460	2,477	2,478	2,488	2,499
Liabilities And Stockhold…
Liabilities
Debt Longterm And Shortterm Combined Amount	1,275	1,270	1,164	1,109	1,119	1,263	1,146	1,136	1,136	1,139	1,135	1,144
Accounts Payable And Accrued Liabilities Current A…	46	38	44	35	-33	29	38	33	-33	27	-34	29
Dividends Payable Current And Noncurrent	45	45	44	44	43	42	41	39	39	39	39	39
Deferred Revenue	4	5	5	4	4	4	4	5	5	5	6	5
Liabilities	1,375	1,357	1,257	1,192	1,199	1,338	1,229	1,213	1,213	1,211	1,214	1,218
Redeemable Noncontrolling Interest Equity Carrying…	10	10	10	9	9	10	10	9	9	9	10	10
Stockholders Equity
Common Stock Value	0	0	0	0	0	0	0	0	0	0	0	0
Additional Paid In Capital Common Stock	1,967	1,920	1,923	1,876	1,864	1,805	1,737	1,601	1,606	1,606	1,604	1,603
Retained Earnings Accumulated Deficit	2,843	2,787	2,747	2,709	2,676	2,639	2,605	2,562	2,533	2,498	2,467	2,435
Cumulative Dividends	-3,238	-3,193	-3,149	-3,104	-3,060	-3,018	-2,976	-2,935	-2,895	-2,856	-2,817	-2,778
Stockholders Equity	1,579	1,523	1,530	1,489	1,488	1,435	1,366	1,229	1,244	1,258	1,254	1,271
Minority Interest	7	8	8	9	8	9	9	10	10	10	10	11
Liabilities And Stockholders Equity	2,964	2,890	2,797	2,690	2,696	2,783	2,614	2,460	2,477	2,478	2,488	2,499
Financing Receivable Allowance For Credit Loss Exc…	-	15	15	15	17	19	20	19	16	15	15	16
Common Stock Par Or Stated Value Per Share	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01
Common Stock Shares Authorized	100	100	100	100	100	100	100	100	100	100	100	100
Common Stock Shares Issued	49	48	48	48	47	47	46	44	43	43	43	43
Shares Outstanding	48	48	48	46	46	46	46	43	43	43	43	43
Variable Interest Entity Primary Beneficiary	-	502	403	-99	-4	503	506	-1	-2	510	513	-

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Earnings Market Reaction

10‑Q10‑K

Fiscal Year	Q1 1 Month	Q1 2 Month	Q1 3 Month	Q2 1 Month	Q2 2 Month	Q2 3 Month	Q3 1 Month	Q3 2 Month	Q3 3 Month	Q4 1 Month	Q4 2 Month	Q4 3 Month
2026	-3.20%	2.43%	7.66%	-	-	-	-	-	-	-	-	-
2025	-4.64%	-6.84%	-5.29%	7.66%	9.80%	4.59%	5.54%	2.42%	6.72%	-6.63%	-1.21%	-13.92%
2024	2.85%	6.84%	18.42%	9.55%	12.86%	2.22%	-0.10%	-10.30%	-8.07%	2.88%	7.58%	6.73%
2023	-	-	-	-	-	-	10.82%	12.64%	10.06%	12.89%	11.36%	24.47%
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Performance and Valuation Metrics

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Metrics	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30
Leverage & Debt
Interest Coverage TTM	-	-	-	-	-	-	10.19	5.25	3.84	3.23	3.33	2.87
Per Share Metrics
Diluted EPS TTM	3.41	3.02	2.99	3.07	3.03	3.05	3.10	2.87	2.92	3.03	3.13	2.41
Free Cash Flow Per Share TTM	-2.57	-1.27	-0.80	-0.69	-1.00	0.02	1.59	4.45	4.48	4.48	3.37	3.18
Dividend Per Share TTM	3.62	3.58	3.62	3.48	3.46	3.47	3.57	3.60	3.60	3.60	3.60	3.60
Margin Metrics
Gross Profit Margin TTM	56.50%	67.96%	28.35%	57.37%	2.10%	-7.74%	-10.07%	41.14%	40.35%	-45.00%	-47.90%	335.48%
Operating Profit Margin TTM	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Profit Margin TTM	122.16%	80.94%	175.85%	106.96%	233.29%	254.24%	251.08%	100.98%	103.02%	261.63%	277.81%	-441.14%
Growth Metrics
Net Revenue Growth (1Y)	122.66%	228.93%	47.12%	9.54%	-50.79%	9.41%	11.50%	-627.73%	-614.12%	-311.34%	36.35%	-113.44%
Net Income Growth (1Y)	16.59%	4.71%	3.04%	16.03%	11.44%	6.32%	0.77%	20.80%	16.16%	43.88%	107.02%	4.74%
EPS Growth (1Y)	12.39%	-0.93%	-3.62%	6.35%	3.57%	0.90%	-0.28%	20.56%	16.14%	43.88%	113.63%	7.04%
Valuation Metrics
P/E TTM	22.34	26.32	24.85	24.87	22.03	22.71	20.70	26.61	20.99	18.55	15.79	18.56
P/B TTM	2.34	2.54	2.29	2.44	2.10	2.22	2.06	2.73	2.15	1.94	1.69	1.52
P/S TTM	27.29	21.30	43.69	26.60	51.39	57.73	51.97	26.87	21.62	48.53	43.87	-81.86
Market Cap	3.69B	3.86B	3.50B	3.64B	3.12B	3.18B	2.83B	3.36B	2.67B	2.44B	2.14B	1.94B
Enterprise Value	3.64B	3.84B	3.48B	3.56B	3.10B	3.04B	2.80B	3.34B	2.65B	2.43B	2.12B	1.92B
Calculated Values
Free Cash Flow TTM	-124.29M	-61.55M	-37.51M	-32.85M	-46.75M	807.00K	69.64M	193.53M	194.61M	194.23M	146.37M	138.04M
Net Debt	-50.43M	-24.95M	-19.62M	-81.63M	-19.32M	-137.28M	-26.50M	-17.77M	-16.90M	-13.33M	-24.62M	-18.50M
Per-Share and Margin
EPS TTM
Adjusted EPS TTM
Cash Flow Per Share TTM
Pretax Margin TTM
Stock Comp to Revenue TTM
Turnover Ratios and Averages
Average Assets
Average Equity
Average Inventory
Average Receivables
Average Accounts Payables
Inventory Turnover TTM
Payables Turnover TTM
Days Inventory Outstanding TTM
Days Payables Outstanding TTM
Cash Conversion Cycle TTM
Working Capital to Revenue
Deferred Revenue to Revenue
Growth Rates
Total Assets Growth (1Y)
Total Assets Growth (3Y)
Total Assets Growth (5Y)
Dividends Paid Growth (1Y)
Dividends Paid Growth (3Y)
Dividends Paid Growth (5Y)
EPS Growth (3Y)
EPS Growth (5Y)
Net Income Growth (3Y)
Net Income Growth (5Y)
Net Profit Margin Growth (1Y)
Net Profit Margin Growth (3Y)
Net Profit Margin Growth (5Y)
Net Revenue Growth (3Y)
Net Revenue Growth (5Y)
Deferred Revenue Growth (1Y)
Retained Earnings Growth (1Y)
Credit, Liquidity, Returns, Payout
Cash Ratio
Net Working Capital
Debt to EBITDA TTM
Net Debt to EBITDA TTM
Net Debt to Equity
Altman A
Altman B
Altman C
Altman D
Altman E
Altman Z-Score
ROA TTM
ROE TTM
NOPAT TTM
ROIC TTM
Effective Tax Rate TTM
Payout Ratio TTM
Dilution Ratio
Retained Earnings to Equity
Treasury Stock to Equity
Treasury Stock Change (1Y)
Accrued to Current Liabilities
NCAV
NCAV Per Share TTM
Valuation Ratios
P/CF TTM
PEG Ratio
Dividend Yield TTM
Free Cash Flow Yield TTM
EV EBITDA TTM
EV EBIT TTM
EV Revenue TTM
EV FCF TTM
Stock Compensation TTM
Adjusted Net Income TTM
Billings TTM
Total Debt
Invested Capital

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Insider Transactions

2026-06-15Purchase

Owner: Mccabe, Robert A Jr

Title: -

Shares: 890

Price/Share: $71.65

Value: $63,768.50

Shares Owned: 44,159

Relationship: Director

Ownership: Direct

2026-06-05Purchase

Owner: Mendelsohn, D. Eric

Title: CEO and President

Shares: 1,500

Price/Share: $68.84

Value: $103,260.00

Shares Owned: 133,316

Relationship: Director,Officer

Ownership: Direct

2024-05-31Purchase

Owner: Mccabe, Robert A Jr

Title: -

Shares: 437

Price/Share: $65.83

Value: $28,767.71

Shares Owned: 21,585

Relationship: Director

Ownership: Direct

2024-02-27Purchase

Owner: Swafford, Charlotte A

Title: -

Shares: 10,000

Price/Share: $58.69

Value: $586,900.00

Shares Owned: 110,185

Relationship: Director

Ownership: Indirect

2023-08-30Purchase

Owner: Jobe, James R

Title: -

Shares: 1,000

Price/Share: $51.40

Value: $51,400.00

Shares Owned: 14,979

Relationship: Director

Ownership: Direct

Filed Date	Owner	Relationship	Title	Ownership	Purchase/Sale	No. Shares	Price Per Share	Value	Shares Owned	Document Type
2026-06-15	Mccabe, Robert A Jr	Director	-	Direct	Purchase	890	71.65	$63,768.50	44,159	4
2026-06-05	Mendelsohn, D. Eric	Director,Officer	CEO and President	Direct	Purchase	1,500	68.84	$103,260.00	133,316	4
2024-05-31	Mccabe, Robert A Jr	Director	-	Direct	Purchase	437	65.83	$28,767.71	21,585	4
2024-02-27	Swafford, Charlotte A	Director	-	Indirect	Purchase	10,000	58.69	$586,900.00	110,185	4
2023-08-30	Jobe, James R	Director	-	Direct	Purchase	1,000	51.40	$51,400.00	14,979	4
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Institutional Ownership

No data available for chart

2026-03-31

66.14%

Inst. Shares: 31,962,626

Shares Outstanding: 48,323,945

2025-12-31

69.57%

Inst. Shares: 32,610,821

Shares Outstanding: 46,874,691

2025-09-30

68.14%

Inst. Shares: 32,321,344

Shares Outstanding: 47,433,336

2025-06-30

70.95%

Inst. Shares: 33,127,608

Shares Outstanding: 46,691,953

2025-03-31

65.51%

Inst. Shares: 29,951,999

Shares Outstanding: 45,720,496

Date	Institutional Shares Owned	Shares Outstanding	Institutional Ownership %
2026-03-31	31,962,626	48,323,945	66.14%
2025-12-31	32,610,821	46,874,691	69.57%
2025-09-30	32,321,344	47,433,336	68.14%
2025-06-30	33,127,608	46,691,953	70.95%
2025-03-31	29,951,999	45,720,496	65.51%
2024-12-31	30,131,969	43,844,771	68.72%
2024-09-30	28,352,581	43,476,067	65.21%
2024-06-30	26,355,075	43,397,080	60.73%
2024-03-31	24,861,904	43,388,841	57.30%
2023-12-31	25,960,632	43,388,794	59.83%
2023-09-30	25,103,059	43,388,841	57.86%
2023-06-30	25,025,673	43,388,753	57.68%
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NATIONAL HEALTH INVESTORS INC (NHI) — SEC Financial Statements & Analysis

NATIONAL HEALTH INVESTORS INC (NHI) is a real estate investment trusts company, incorporated in MD. NATIONAL HEALTH INVESTORS INC trades on NYSE as: NHI. Based on its latest SEC filing (Form 10-Q, period ending 2026-06-30), NATIONAL HEALTH INVESTORS INC reported a 122.66% year-over-year revenue growth, a Gross Profit Margin of 56.50% (TTM), a Price-to-Sales (P/S) ratio of 27.29x (TTM), a Price-to-Book (P/B) ratio of 2.34x (TTM), at a market cap of $3.69B. Figures below are sourced from SEC EDGAR, as-filed.

Net Revenue TTM Growth 1Y: 122.66%
Gross Profit Margin TTM: 56.50%
P/S TTM: 27.29x
P/B TTM: 2.34x
Market Cap: $3.69B

Data as of 2026-06-30 · Source: SEC EDGAR

Frequently Asked Questions

What industry is NATIONAL HEALTH INVESTORS INC in?

NATIONAL HEALTH INVESTORS INC (NHI) operates in the Real Estate Investment Trusts industry.

What is NHI's market cap?

NATIONAL HEALTH INVESTORS INC (NHI) has a market capitalization of $3.69B as of 2026-06-30.

What is NHI's P/E ratio?

NATIONAL HEALTH INVESTORS INC (NHI)'s trailing twelve month P/E ratio is 22.34x as of 2026-06-30.

What exchange does NHI trade on?

NATIONAL HEALTH INVESTORS INC (NHI) trades on the NYSE.

Where is NATIONAL HEALTH INVESTORS INC incorporated?

NATIONAL HEALTH INVESTORS INC is incorporated in MD.