NATL HEALTH INVESTORS INC (NHI) Stock Fundamental Analysis

USA • New York Stock Exchange • NYSE:NHI • US63633D1046

84.26 USD
+2.76 (+3.39%)
At close: Feb 5, 2026
84.4 USD
+0.14 (+0.17%)
After Hours: 2/5/2026, 8:04:00 PM
Fundamental Rating

6

NHI gets a fundamental rating of 6 out of 10. The analysis compared the fundamentals against 124 industry peers in the Diversified REITs industry. While NHI has a great profitability rating, there are some minor concerns on its financial health. While showing a medium growth rate, NHI is valued expensive at the moment.


Dividend Valuation Growth Profitability Health

8

1. Profitability

1.1 Basic Checks

  • NHI had positive earnings in the past year.
  • NHI had a positive operating cash flow in the past year.
  • NHI had positive earnings in each of the past 5 years.
  • 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 0 100M -100M 200M -200M

1.2 Ratios

  • NHI has a better Return On Assets (5.47%) than 96.77% of its industry peers.
  • NHI's Return On Equity of 9.93% is amongst the best of the industry. NHI outperforms 85.48% of its industry peers.
  • NHI has a better Return On Invested Capital (5.68%) than 97.58% of its industry peers.
  • NHI had an Average Return On Invested Capital over the past 3 years of 5.45%. This is above the industry average of 3.05%.
  • The 3 year average ROIC (5.45%) for NHI is below the current ROIC(5.68%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 5.47%
ROE 9.93%
ROIC 5.68%
ROA(3y)4.46%
ROA(5y)4.65%
ROE(3y)8.71%
ROE(5y)9.16%
ROIC(3y)5.45%
ROIC(5y)5.5%
NHI Yearly ROA, ROE, ROICNHI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2 4 6 8 10

1.3 Margins

  • NHI has a Profit Margin of 41.36%. This is amongst the best in the industry. NHI outperforms 92.74% of its industry peers.
  • NHI's Profit Margin has declined in the last couple of years.
  • With an excellent Operating Margin value of 52.85%, NHI belongs to the best of the industry, outperforming 94.35% of the companies in the same industry.
  • NHI's Operating Margin has declined in the last couple of years.
  • The Gross Margin of NHI (83.26%) is better than 83.06% of its industry peers.
  • In the last couple of years the Gross Margin of NHI has declined.
Industry RankSector Rank
OM 52.85%
PM (TTM) 41.36%
GM 83.26%
OM growth 3Y-3.37%
OM growth 5Y-4.05%
PM growth 3Y3.19%
PM growth 5Y-4%
GM growth 3Y-4.37%
GM growth 5Y-3.06%
NHI Yearly Profit, Operating, Gross MarginsNHI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 20 40 60 80

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ROAROEROICOperating and Profit MarginShow most profitable peers

5

2. Health

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 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 1B 2B 3B

2.2 Solvency

  • An Altman-Z score of 2.12 indicates that NHI is not a great score, but indicates only limited risk for bankruptcy at the moment.
  • The Altman-Z score of NHI (2.12) is better than 95.16% of its industry peers.
  • NHI has a Debt/Equity ratio of 0.75. This is a neutral value indicating NHI is somewhat dependend on debt financing.
  • Looking at the Debt to Equity ratio, with a value of 0.75, NHI is in the better half of the industry, outperforming 77.42% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.75
Debt/FCF N/A
Altman-Z 2.12
ROIC/WACC0.73
WACC7.8%
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 0 500M 1B 1.5B

2.3 Liquidity

  • NHI has a Current Ratio of 2.12. This indicates that NHI is financially healthy and has no problem in meeting its short term obligations.
  • The Current ratio of NHI (2.12) is better than 83.87% of its industry peers.
  • A Quick Ratio of 2.12 indicates that NHI has no problem at all paying its short term obligations.
  • With an excellent Quick ratio value of 2.12, NHI belongs to the best of the industry, outperforming 83.87% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 2.12
Quick Ratio 2.12
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 50M 100M

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

5

3. Growth

3.1 Past

  • NHI shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 4.12%.
  • Measured over the past years, NHI shows a decrease in Earnings Per Share. The EPS has been decreasing by -4.49% on average per year.
  • The Revenue has grown by 8.11% in the past year. This is quite good.
  • NHI shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 1.05% yearly.
EPS 1Y (TTM)4.12%
EPS 3Y6.89%
EPS 5Y-4.49%
EPS Q2Q%6.15%
Revenue 1Y (TTM)8.11%
Revenue growth 3Y3.92%
Revenue growth 5Y1.05%
Sales Q2Q%8.32%

3.2 Future

  • The Earnings Per Share is expected to grow by 4.48% on average over the next years.
  • NHI is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 13.29% yearly.
EPS Next Y3.54%
EPS Next 2Y6.48%
EPS Next 3Y4.48%
EPS Next 5YN/A
Revenue Next Year11.38%
Revenue Next 2Y13.11%
Revenue Next 3Y12.59%
Revenue Next 5Y13.29%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
  • 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 1 2 3 4

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Find the best growth stocksShow best growing peers

3

4. Valuation

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 27.81, NHI can be considered very expensive at the moment.
  • NHI's Price/Earnings ratio is a bit cheaper when compared to the industry. NHI is cheaper than 67.74% of the companies in the same industry.
  • NHI's Price/Earnings ratio indicates a similar valuation than the S&P500 average which is at 27.67.
  • The Price/Forward Earnings ratio is 24.94, which indicates a rather expensive current valuation of NHI.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of NHI indicates a rather cheap valuation: NHI is cheaper than 85.48% of the companies listed in the same industry.
  • The average S&P500 Price/Forward Earnings ratio is at 27.20. NHI is around the same levels.
Industry RankSector Rank
PE 27.81
Fwd PE 24.94
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

  • 77.42% 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 18.47
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 an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)7.85
PEG (5Y)N/A
EPS Next 2Y6.48%
EPS Next 3Y4.48%

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

4

5. Dividend

5.1 Amount

  • With a Yearly Dividend Yield of 4.56%, NHI is a good candidate for dividend investing.
  • NHI's Dividend Yield is comparable with the industry average which is at 6.98.
  • Compared to an average S&P500 Dividend Yield of 1.82, NHI pays a better dividend.
Industry RankSector Rank
Dividend Yield 4.56%

5.2 History

  • The dividend of NHI decreases each year by -3.12%.
  • NHI has paid a dividend for at least 10 years, which is a reliable track record.
  • NHI has decreased its dividend in the last 3 years.
Dividend Growth(5Y)-3.12%
Div Incr Years0
Div Non Decr Years2
NHI Yearly Dividends per shareNHI Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1 2 3 4

5.3 Sustainability

  • NHI pays out 112.27% of its income as dividend. This is not a sustainable payout ratio.
DP112.27%
EPS Next 2Y6.48%
EPS Next 3Y4.48%
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 0 100M -100M -200M
NHI Dividend Payout.NHI Dividend Payout, showing the Payout Ratio.NHI Dividend Payout.PayoutRetained Earnings

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Find the best dividend stocksShow peers with best dividend

NATL HEALTH INVESTORS INC

NYSE:NHI (2/5/2026, 8:04:00 PM)

After market: 84.4 +0.14 (+0.17%)

84.26

+2.76 (+3.39%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)11-06
Earnings (Next)02-26
Inst Owners74.99%
Inst Owner Change-1.8%
Ins Owners0.77%
Ins Owner Change4.09%
Market Cap4.01B
Revenue(TTM)355.56M
Net Income(TTM)147.08M
Analysts78.18
Price Target87.72 (4.11%)
Short Float %2.84%
Short Ratio6.28
Dividend
Industry RankSector Rank
Dividend Yield 4.56%
Yearly Dividend3.51
Dividend Growth(5Y)-3.12%
DP112.27%
Div Incr Years0
Div Non Decr Years2
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-2%
Min EPS beat(2)-8.3%
Max EPS beat(2)4.29%
EPS beat(4)2
Avg EPS beat(4)0.64%
Min EPS beat(4)-8.3%
Max EPS beat(4)6.65%
EPS beat(8)5
Avg EPS beat(8)1.38%
EPS beat(12)6
Avg EPS beat(12)-5.57%
EPS beat(16)7
Avg EPS beat(16)-16.14%
Revenue beat(2)2
Avg Revenue beat(2)4.52%
Min Revenue beat(2)3.26%
Max Revenue beat(2)5.78%
Revenue beat(4)4
Avg Revenue beat(4)4.22%
Min Revenue beat(4)3.26%
Max Revenue beat(4)5.78%
Revenue beat(8)8
Avg Revenue beat(8)4.2%
Revenue beat(12)10
Avg Revenue beat(12)2.41%
Revenue beat(16)12
Avg Revenue beat(16)0.43%
PT rev (1m)-0.29%
PT rev (3m)2.91%
EPS NQ rev (1m)1.36%
EPS NQ rev (3m)1.89%
EPS NY rev (1m)0.25%
EPS NY rev (3m)0.25%
Revenue NQ rev (1m)1.73%
Revenue NQ rev (3m)4.45%
Revenue NY rev (1m)0.28%
Revenue NY rev (3m)2.39%
Valuation
Industry RankSector Rank
PE 27.81
Fwd PE 24.94
P/S 11.29
P/FCF N/A
P/OCF 17.73
P/B 2.71
P/tB 2.71
EV/EBITDA 18.47
EPS(TTM)3.03
EY3.6%
EPS(NY)3.38
Fwd EY4.01%
FCF(TTM)-0.91
FCFYN/A
OCF(TTM)4.75
OCFY5.64%
SpS7.46
BVpS31.09
TBVpS31.09
PEG (NY)7.85
PEG (5Y)N/A
Graham Number46.04
Profitability
Industry RankSector Rank
ROA 5.47%
ROE 9.93%
ROCE 7.2%
ROIC 5.68%
ROICexc 5.87%
ROICexgc 5.9%
OM 52.85%
PM (TTM) 41.36%
GM 83.26%
FCFM N/A
ROA(3y)4.46%
ROA(5y)4.65%
ROE(3y)8.71%
ROE(5y)9.16%
ROIC(3y)5.45%
ROIC(5y)5.5%
ROICexc(3y)5.5%
ROICexc(5y)5.56%
ROICexgc(3y)5.53%
ROICexgc(5y)5.6%
ROCE(3y)6.9%
ROCE(5y)6.97%
ROICexgc growth 3Y3.22%
ROICexgc growth 5Y0.14%
ROICexc growth 3Y3.22%
ROICexc growth 5Y0.15%
OM growth 3Y-3.37%
OM growth 5Y-4.05%
PM growth 3Y3.19%
PM growth 5Y-4%
GM growth 3Y-4.37%
GM growth 5Y-3.06%
F-Score6
Asset Turnover0.13
Health
Industry RankSector Rank
Debt/Equity 0.75
Debt/FCF N/A
Debt/EBITDA 4.17
Cap/Depr 345.79%
Cap/Sales 75.83%
Interest Coverage 3.47
Cash Conversion 85.15%
Profit Quality N/A
Current Ratio 2.12
Quick Ratio 2.12
Altman-Z 2.12
F-Score6
WACC7.8%
ROIC/WACC0.73
Cap/Depr(3y)100.3%
Cap/Depr(5y)96.53%
Cap/Sales(3y)21.64%
Cap/Sales(5y)22.31%
Profit Quality(3y)135.02%
Profit Quality(5y)124.31%
High Growth Momentum
Growth
EPS 1Y (TTM)4.12%
EPS 3Y6.89%
EPS 5Y-4.49%
EPS Q2Q%6.15%
EPS Next Y3.54%
EPS Next 2Y6.48%
EPS Next 3Y4.48%
EPS Next 5YN/A
Revenue 1Y (TTM)8.11%
Revenue growth 3Y3.92%
Revenue growth 5Y1.05%
Sales Q2Q%8.32%
Revenue Next Year11.38%
Revenue Next 2Y13.11%
Revenue Next 3Y12.59%
Revenue Next 5Y13.29%
EBIT growth 1Y1.36%
EBIT growth 3Y0.41%
EBIT growth 5Y-3.04%
EBIT Next Year55.25%
EBIT Next 3Y23.69%
EBIT Next 5Y16.68%
FCF growth 1Y-131.82%
FCF growth 3Y-32.77%
FCF growth 5Y17.98%
OCF growth 1Y27.55%
OCF growth 3Y-0.5%
OCF growth 5Y-2.92%

NATL HEALTH INVESTORS INC / NHI FAQ

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

ChartMill assigns a fundamental rating of 6 / 10 to NHI.


What is the valuation status for NHI stock?

ChartMill assigns a valuation rating of 3 / 10 to NATL HEALTH INVESTORS INC (NHI). This can be considered as Overvalued.


How profitable is NATL HEALTH INVESTORS INC (NHI) stock?

NATL HEALTH INVESTORS INC (NHI) has a profitability rating of 8 / 10.


What are the PE and PB ratios of NATL HEALTH INVESTORS INC (NHI) stock?

The Price/Earnings (PE) ratio for NATL HEALTH INVESTORS INC (NHI) is 27.81 and the Price/Book (PB) ratio is 2.71.


Is the dividend of NATL HEALTH INVESTORS INC sustainable?

The dividend rating of NATL HEALTH INVESTORS INC (NHI) is 4 / 10 and the dividend payout ratio is 112.27%.