NATL HEALTH INVESTORS INC (NHI) Stock Fundamental Analysis

NYSE:NHI • US63633D1046

88.72 USD
-0.23 (-0.26%)
At close: Feb 19, 2026
89.1 USD
+0.38 (+0.43%)
After Hours: 2/19/2026, 8:19:51 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

6

We assign a fundamental rating of 6 out of 10 to NHI. NHI was compared to 123 industry peers in the Diversified REITs industry. While NHI belongs to the best of the industry regarding profitability, 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.
  • NHI had a positive operating cash flow in each of the past 5 years.
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

  • The Return On Assets of NHI (5.47%) is better than 96.75% of its industry peers.
  • With an excellent Return On Equity value of 9.93%, NHI belongs to the best of the industry, outperforming 86.18% of the companies in the same industry.
  • NHI has a better Return On Invested Capital (5.68%) than 97.56% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for NHI is above the industry average of 3.06%.
  • The last Return On Invested Capital (5.68%) for NHI is above the 3 year average (5.45%), which is a sign of increasing profitability.
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 93.50% of its industry peers.
  • In the last couple of years the Profit Margin of NHI has declined.
  • NHI has a Operating Margin of 52.85%. This is amongst the best in the industry. NHI outperforms 94.31% of its industry peers.
  • In the last couple of years the Operating Margin of NHI has declined.
  • The Gross Margin of NHI (83.26%) is better than 82.93% 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.
  • The number of shares outstanding for NHI has been increased compared to 1 year ago.
  • Compared to 5 years ago, NHI has more shares outstanding
  • 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

  • NHI has an Altman-Z score of 2.30. This is not the best score and indicates that NHI is in the grey zone with still only limited risk for bankruptcy at the moment.
  • NHI has a better Altman-Z score (2.30) than 95.12% 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.
  • With a decent Debt to Equity ratio value of 0.75, NHI is doing good in the industry, outperforming 77.24% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.75
Debt/FCF N/A
Altman-Z 2.3
ROIC/WACC0.74
WACC7.69%
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

  • A Current Ratio of 2.12 indicates that NHI has no problem at all paying its short term obligations.
  • Looking at the Current ratio, with a value of 2.12, NHI belongs to the top of the industry, outperforming 86.18% of the companies in the same industry.
  • A Quick Ratio of 2.12 indicates that NHI has no problem at all paying its short term obligations.
  • The Quick ratio of NHI (2.12) is better than 86.18% of its industry peers.
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.
  • Measured over the past years, NHI shows a small growth in Revenue. The Revenue has been growing by 1.05% on average per year.
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

  • NHI is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 4.94% yearly.
  • NHI is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 14.69% yearly.
EPS Next Y4.81%
EPS Next 2Y6.32%
EPS Next 3Y4.94%
EPS Next 5YN/A
Revenue Next Year11.38%
Revenue Next 2Y13.11%
Revenue Next 3Y12.59%
Revenue Next 5Y14.69%

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

  • Based on the Price/Earnings ratio of 29.28, the valuation of NHI can be described as expensive.
  • Based on the Price/Earnings ratio, NHI is valued a bit cheaper than the industry average as 66.67% of the companies are valued more expensively.
  • NHI is valuated at similar levels of the S&P average when we compare the Price/Earnings ratio to 27.09, which is the current average of the S&P500 Index.
  • The Price/Forward Earnings ratio is 26.34, which means the current valuation is very expensive for NHI.
  • Based on the Price/Forward Earnings ratio, NHI is valued cheaply inside the industry as 83.74% of the companies are valued more expensively.
  • When comparing the Price/Forward Earnings ratio of NHI to the average of the S&P500 Index (27.98), we can say NHI is valued inline with the index average.
Industry RankSector Rank
PE 29.28
Fwd PE 26.34
NHI Price Earnings VS Forward Price EarningsNHI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40 50

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, NHI is valued expensively inside the industry as 80.49% of the companies are valued cheaper.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 19.8
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 an expensive valuation of the company.
  • NHI has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)6.08
PEG (5Y)N/A
EPS Next 2Y6.32%
EPS Next 3Y4.94%

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

4

5. Dividend

5.1 Amount

  • NHI has a Yearly Dividend Yield of 4.10%, which is a nice return.
  • Compared to an average industry Dividend Yield of 6.78, NHI has a dividend in line with its industry peers.
  • NHI's Dividend Yield is rather good when compared to the S&P500 average which is at 1.85.
Industry RankSector Rank
Dividend Yield 4.1%

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.
  • The dividend of NHI decreased 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

  • 112.27% of the earnings are spent on dividend by NHI. This is not a sustainable payout ratio.
DP112.27%
EPS Next 2Y6.32%
EPS Next 3Y4.94%
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 (2/19/2026, 8:19:51 PM)

After market: 89.1 +0.38 (+0.43%)

88.72

-0.23 (-0.26%)

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-2.89%
Ins Owners0.77%
Ins Owner Change7.55%
Market Cap4.23B
Revenue(TTM)355.56M
Net Income(TTM)147.08M
Analysts76.67
Price Target87.34 (-1.56%)
Short Float %2.86%
Short Ratio5.71
Dividend
Industry RankSector Rank
Dividend Yield 4.1%
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)-0.72%
PT rev (3m)2.46%
EPS NQ rev (1m)0.31%
EPS NQ rev (3m)1.89%
EPS NY rev (1m)1.48%
EPS NY rev (3m)1.48%
Revenue NQ rev (1m)1.73%
Revenue NQ rev (3m)4.45%
Revenue NY rev (1m)1.6%
Revenue NY rev (3m)2.39%
Valuation
Industry RankSector Rank
PE 29.28
Fwd PE 26.34
P/S 11.89
P/FCF N/A
P/OCF 18.67
P/B 2.85
P/tB 2.85
EV/EBITDA 19.8
EPS(TTM)3.03
EY3.42%
EPS(NY)3.37
Fwd EY3.8%
FCF(TTM)-0.91
FCFYN/A
OCF(TTM)4.75
OCFY5.36%
SpS7.46
BVpS31.09
TBVpS31.09
PEG (NY)6.08
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 2.3
F-Score6
WACC7.69%
ROIC/WACC0.74
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 Y4.81%
EPS Next 2Y6.32%
EPS Next 3Y4.94%
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 5Y14.69%
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 29.28 and the Price/Book (PB) ratio is 2.85.


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%.