NATL HEALTH INVESTORS INC (NHI) Fundamental Analysis & Valuation

NYSE:NHI • US63633D1046

Current stock price

84.62 USD
+0.26 (+0.31%)
Last:

This NHI fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

7

1. NHI Profitability Analysis

1.1 Basic Checks

  • In the past year NHI was profitable.
  • In the past year NHI had a positive cash flow from operations.
  • Each year in the past 5 years NHI has been profitable.
  • In the past 5 years NHI always reported a positive cash flow from operatings.
NHI Yearly Net Income VS EBIT VS OCF VS FCFNHI Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 100M -100M 200M -200M

1.2 Ratios

  • Looking at the Return On Assets, with a value of 5.08%, NHI belongs to the top of the industry, outperforming 93.44% of the companies in the same industry.
  • NHI has a better Return On Equity (9.33%) than 85.25% of its industry peers.
  • NHI's Return On Invested Capital of 5.56% is amongst the best of the industry. NHI outperforms 95.08% of its industry peers.
  • NHI had an Average Return On Invested Capital over the past 3 years of 5.76%. This is above the industry average of 3.11%.
Industry RankSector Rank
ROA 5.08%
ROE 9.33%
ROIC 5.56%
ROA(3y)5.27%
ROA(5y)4.48%
ROE(3y)10.08%
ROE(5y)8.58%
ROIC(3y)5.76%
ROIC(5y)5.44%
NHI Yearly ROA, ROE, ROICNHI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2 4 6 8 10

1.3 Margins

  • With an excellent Profit Margin value of 37.80%, NHI belongs to the best of the industry, outperforming 91.80% of the companies in the same industry.
  • NHI's Profit Margin has declined in the last couple of years.
  • Looking at the Operating Margin, with a value of 50.74%, NHI belongs to the top of the industry, outperforming 93.44% of the companies in the same industry.
  • In the last couple of years the Operating Margin of NHI has declined.
  • NHI has a Gross Margin of 80.86%. This is amongst the best in the industry. NHI outperforms 81.97% of its industry peers.
  • NHI's Gross Margin has declined in the last couple of years.
Industry RankSector Rank
OM 50.74%
PM (TTM) 37.8%
GM 80.86%
OM growth 3Y-0.48%
OM growth 5Y-5.57%
PM growth 3Y16.56%
PM growth 5Y-7.44%
GM growth 3Y-2.16%
GM growth 5Y-3.6%
NHI Yearly Profit, Operating, Gross MarginsNHI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20 40 60 80

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4

2. NHI Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so NHI is destroying value.
  • NHI has more shares outstanding than it did 1 year ago.
  • NHI has more shares outstanding than it did 5 years ago.
  • Compared to 1 year ago, NHI has an improved debt to assets ratio.
NHI Yearly Shares OutstandingNHI Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10M 20M 30M 40M
NHI Yearly Total Debt VS Total AssetsNHI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B

2.2 Solvency

  • An Altman-Z score of 2.09 indicates that NHI is not a great score, but indicates only limited risk for bankruptcy at the moment.
  • NHI has a better Altman-Z score (2.09) than 95.90% of its industry peers.
  • NHI has a Debt/Equity ratio of 0.76. This is a neutral value indicating NHI is somewhat dependend on debt financing.
  • Looking at the Debt to Equity ratio, with a value of 0.76, NHI is in the better half of the industry, outperforming 74.59% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.76
Debt/FCF N/A
Altman-Z 2.09
ROIC/WACC0.71
WACC7.78%
NHI Yearly LT Debt VS Equity VS FCFNHI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 500M 1B 1.5B

2.3 Liquidity

  • NHI has a Current Ratio of 1.19. This is a normal value and indicates that NHI is financially healthy and should not expect problems in meeting its short term obligations.
  • The Current ratio of NHI (1.19) is better than 64.75% of its industry peers.
  • NHI has a Quick Ratio of 1.19. This is a normal value and indicates that NHI is financially healthy and should not expect problems in meeting its short term obligations.
  • NHI has a better Quick ratio (1.19) than 65.57% of its industry peers.
Industry RankSector Rank
Current Ratio 1.19
Quick Ratio 1.19
NHI Yearly Current Assets VS Current LiabilitesNHI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50M 100M

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

5

3. NHI Growth Analysis

3.1 Past

  • The Earnings Per Share has been growing slightly by 1.34% over the past year.
  • The Earnings Per Share has been decreasing by -6.07% on average over the past years.
  • NHI shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 12.07%.
  • The Revenue has been growing slightly by 2.45% on average over the past years.
EPS 1Y (TTM)1.34%
EPS 3Y26.84%
EPS 5Y-6.07%
EPS Q2Q%-1.23%
Revenue 1Y (TTM)12.07%
Revenue growth 3Y10.53%
Revenue growth 5Y2.45%
Sales Q2Q%23.4%

3.2 Future

  • Based on estimates for the next years, NHI will show a small growth in Earnings Per Share. The EPS will grow by 3.45% on average per year.
  • Based on estimates for the next years, NHI will show a quite strong growth in Revenue. The Revenue will grow by 14.69% on average per year.
EPS Next Y11.53%
EPS Next 2Y6.79%
EPS Next 3Y3.45%
EPS Next 5YN/A
Revenue Next Year21.74%
Revenue Next 2Y15.72%
Revenue Next 3Y16.68%
Revenue Next 5Y14.69%

3.3 Evolution

  • The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
NHI Yearly Revenue VS EstimatesNHI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 200M 400M 600M
NHI Yearly EPS VS EstimatesNHI Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 1 2 3 4

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2

4. NHI Valuation Analysis

4.1 Price/Earnings Ratio

  • NHI is valuated quite expensively with a Price/Earnings ratio of 28.02.
  • NHI's Price/Earnings ratio is a bit cheaper when compared to the industry. NHI is cheaper than 69.67% of the companies in the same industry.
  • NHI's Price/Earnings ratio indicates a similar valuation than the S&P500 average which is at 26.21.
  • A Price/Forward Earnings ratio of 25.12 indicates a quite expensive valuation of NHI.
  • Based on the Price/Forward Earnings ratio, NHI is valued cheaper than 85.25% of the companies in the same industry.
  • NHI is valuated at similar levels of the S&P average when we compare the Price/Forward Earnings ratio to 23.10, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 28.02
Fwd PE 25.12
NHI Price Earnings VS Forward Price EarningsNHI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60

4.2 Price Multiples

  • 79.51% of the companies in the same industry are cheaper than NHI, based on the Enterprise Value to EBITDA ratio.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 19.25
NHI Per share dataNHI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 20 30

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates NHI does not grow enough to justify the current Price/Earnings ratio.
  • NHI has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)2.43
PEG (5Y)N/A
EPS Next 2Y6.79%
EPS Next 3Y3.45%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

5

5. NHI Dividend Analysis

5.1 Amount

  • NHI has a Yearly Dividend Yield of 4.48%, which is a nice return.
  • NHI's Dividend Yield is comparable with the industry average which is at 8.03.
  • Compared to an average S&P500 Dividend Yield of 1.89, NHI pays a better dividend.
Industry RankSector Rank
Dividend Yield 4.48%

5.2 History

  • The dividend of NHI decreases each year by -3.59%.
  • NHI has been paying a dividend for at least 10 years, so it has a reliable track record.
  • NHI has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)-3.59%
Div Incr Years1
Div Non Decr Years3
NHI Yearly Dividends per shareNHI Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 1 2 3 4

5.3 Sustainability

  • NHI pays out 119.52% of its income as dividend. This is not a sustainable payout ratio.
DP119.52%
EPS Next 2Y6.79%
EPS Next 3Y3.45%
NHI Yearly Income VS Free CF VS DividendNHI Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 100M -100M -200M
NHI Dividend Payout.NHI Dividend Payout, showing the Payout Ratio.NHI Dividend Payout.PayoutRetained Earnings

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NHI Fundamentals: All Metrics, Ratios and Statistics

NATL HEALTH INVESTORS INC

NYSE:NHI (4/8/2026, 3:17:28 PM)

84.62

+0.26 (+0.31%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)02-26
Earnings (Next)05-04
Inst Owners73.45%
Inst Owner Change0%
Ins Owners0.9%
Ins Owner Change14.59%
Market Cap4.09B
Revenue(TTM)375.63M
Net Income(TTM)141.98M
Analysts76.67
Price Target91.04 (7.59%)
Short Float %3.13%
Short Ratio4.71
Dividend
Industry RankSector Rank
Dividend Yield 4.48%
Yearly Dividend3.61
Dividend Growth(5Y)-3.59%
DP119.52%
Div Incr Years1
Div Non Decr Years3
Ex-Date03-31
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-5.1%
Min EPS beat(2)-8.3%
Max EPS beat(2)-1.91%
EPS beat(4)1
Avg EPS beat(4)-1.5%
Min EPS beat(4)-8.3%
Max EPS beat(4)4.29%
EPS beat(8)4
Avg EPS beat(8)0.17%
EPS beat(12)6
Avg EPS beat(12)2.26%
EPS beat(16)7
Avg EPS beat(16)-10.94%
Revenue beat(2)2
Avg Revenue beat(2)8.55%
Min Revenue beat(2)5.78%
Max Revenue beat(2)11.32%
Revenue beat(4)4
Avg Revenue beat(4)6.17%
Min Revenue beat(4)3.26%
Max Revenue beat(4)11.32%
Revenue beat(8)8
Avg Revenue beat(8)5.58%
Revenue beat(12)11
Avg Revenue beat(12)4.1%
Revenue beat(16)12
Avg Revenue beat(16)1.1%
PT rev (1m)4.23%
PT rev (3m)3.48%
EPS NQ rev (1m)-1.94%
EPS NQ rev (3m)-4.4%
EPS NY rev (1m)0%
EPS NY rev (3m)1.75%
Revenue NQ rev (1m)5.27%
Revenue NQ rev (3m)7.65%
Revenue NY rev (1m)3.31%
Revenue NY rev (3m)9.22%
Valuation
Industry RankSector Rank
PE 28.02
Fwd PE 25.12
P/S 10.9
P/FCF N/A
P/OCF 17.31
P/B 2.69
P/tB 2.69
EV/EBITDA 19.25
EPS(TTM)3.02
EY3.57%
EPS(NY)3.37
Fwd EY3.98%
FCF(TTM)-1.19
FCFYN/A
OCF(TTM)4.89
OCFY5.78%
SpS7.76
BVpS31.44
TBVpS31.44
PEG (NY)2.43
PEG (5Y)N/A
Graham Number46.22
Profitability
Industry RankSector Rank
ROA 5.08%
ROE 9.33%
ROCE 7.04%
ROIC 5.56%
ROICexc 5.6%
ROICexgc 5.62%
OM 50.74%
PM (TTM) 37.8%
GM 80.86%
FCFM N/A
ROA(3y)5.27%
ROA(5y)4.48%
ROE(3y)10.08%
ROE(5y)8.58%
ROIC(3y)5.76%
ROIC(5y)5.44%
ROICexc(3y)5.81%
ROICexc(5y)5.5%
ROICexgc(3y)5.84%
ROICexgc(5y)5.53%
ROCE(3y)7.29%
ROCE(5y)6.89%
ROICexgc growth 3Y6.24%
ROICexgc growth 5Y-1.2%
ROICexc growth 3Y6.24%
ROICexc growth 5Y-1.17%
OM growth 3Y-0.48%
OM growth 5Y-5.57%
PM growth 3Y16.56%
PM growth 5Y-7.44%
GM growth 3Y-2.16%
GM growth 5Y-3.6%
F-Score5
Asset Turnover0.13
Health
Industry RankSector Rank
Debt/Equity 0.76
Debt/FCF N/A
Debt/EBITDA 4.29
Cap/Depr 363.26%
Cap/Sales 78.28%
Interest Coverage 3.7
Cash Conversion 87.12%
Profit Quality N/A
Current Ratio 1.19
Quick Ratio 1.19
Altman-Z 2.09
F-Score5
WACC7.78%
ROIC/WACC0.71
Cap/Depr(3y)218.38%
Cap/Depr(5y)144.44%
Cap/Sales(3y)46.96%
Cap/Sales(5y)31.78%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)1.34%
EPS 3Y26.84%
EPS 5Y-6.07%
EPS Q2Q%-1.23%
EPS Next Y11.53%
EPS Next 2Y6.79%
EPS Next 3Y3.45%
EPS Next 5YN/A
Revenue 1Y (TTM)12.07%
Revenue growth 3Y10.53%
Revenue growth 5Y2.45%
Sales Q2Q%23.4%
Revenue Next Year21.74%
Revenue Next 2Y15.72%
Revenue Next 3Y16.68%
Revenue Next 5Y14.69%
EBIT growth 1Y1.11%
EBIT growth 3Y10%
EBIT growth 5Y-3.26%
EBIT Next Year58.98%
EBIT Next 3Y18.87%
EBIT Next 5YN/A
FCF growth 1Y-215.32%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y13.86%
OCF growth 3Y8.48%
OCF growth 5Y0.38%

NATL HEALTH INVESTORS INC / NHI Fundamental Analysis FAQ

What is the ChartMill fundamental rating of NATL HEALTH INVESTORS INC (NHI) stock?

ChartMill assigns a fundamental rating of 5 / 10 to NHI.


What is the valuation status for NHI stock?

ChartMill assigns a valuation rating of 2 / 10 to NATL HEALTH INVESTORS INC (NHI). This can be considered as Overvalued.


What is the profitability of NHI stock?

NATL HEALTH INVESTORS INC (NHI) has a profitability rating of 7 / 10.


Can you provide the financial health for NHI stock?

The financial health rating of NATL HEALTH INVESTORS INC (NHI) is 4 / 10.


Can you provide the dividend sustainability for NHI stock?

The dividend rating of NATL HEALTH INVESTORS INC (NHI) is 5 / 10 and the dividend payout ratio is 119.52%.