NATL HEALTH INVESTORS INC (NHI) Stock Fundamental Analysis

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

86.22 USD
+1.12 (+1.32%)
At close: Feb 10, 2026
86.22 USD
0 (0%)
After Hours: 2/10/2026, 8:26:17 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

6

NHI gets a fundamental rating of 6 out of 10. The analysis compared the fundamentals against 122 industry peers in the Diversified REITs industry. NHI has an excellent profitability rating, but 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.
  • In the past year NHI had a positive cash flow from operations.
  • 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

  • NHI has a Return On Assets of 5.47%. This is amongst the best in the industry. NHI outperforms 97.54% of its industry peers.
  • Looking at the Return On Equity, with a value of 9.93%, NHI belongs to the top of the industry, outperforming 86.07% of the companies in the same industry.
  • NHI's Return On Invested Capital of 5.68% is amongst the best of the industry. NHI outperforms 97.54% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for NHI is above the industry average of 3.07%.
  • 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 93.44% of its industry peers.
  • In the last couple of years the Profit Margin of NHI has declined.
  • The Operating Margin of NHI (52.85%) is better than 95.08% of its industry peers.
  • NHI's Operating Margin has declined in the last couple of years.
  • Looking at the Gross Margin, with a value of 83.26%, NHI belongs to the top of the industry, outperforming 83.61% of the companies in the same industry.
  • 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

  • NHI has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
  • Compared to 1 year ago, NHI has more shares outstanding
  • The number of shares outstanding for NHI has been increased compared to 5 years ago.
  • NHI has a better debt/assets ratio than last year.
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 2.21. 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.
  • Looking at the Altman-Z score, with a value of 2.21, NHI belongs to the top of the industry, outperforming 95.08% of the companies in the same industry.
  • NHI has a Debt/Equity ratio of 0.75. This is a neutral value indicating NHI is somewhat dependend on debt financing.
  • NHI has a better Debt to Equity ratio (0.75) than 77.05% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.75
Debt/FCF N/A
Altman-Z 2.21
ROIC/WACC0.73
WACC7.77%
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.
  • Looking at the Current ratio, with a value of 2.12, NHI belongs to the top of the industry, outperforming 83.61% of the companies in the same industry.
  • NHI has a Quick Ratio of 2.12. This indicates that NHI is financially healthy and has no problem in meeting its short term obligations.
  • Looking at the Quick ratio, with a value of 2.12, NHI belongs to the top of the industry, outperforming 83.61% 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.
  • Looking at the last year, NHI shows a quite strong growth in Revenue. The Revenue has grown by 8.11% in the last year.
  • 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 4.94% on average over the next years.
  • The Revenue is expected to grow by 13.29% on average over the next years. This is quite good.
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 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

  • The Price/Earnings ratio is 28.46, which means the current valuation is very expensive for NHI.
  • Compared to the rest of the industry, the Price/Earnings ratio of NHI indicates a somewhat cheap valuation: NHI is cheaper than 66.39% of the companies listed in the same industry.
  • NHI's Price/Earnings ratio indicates a similar valuation than the S&P500 average which is at 28.03.
  • With a Price/Forward Earnings ratio of 25.60, NHI can be considered very expensive at the moment.
  • 84.43% of the companies in the same industry are more expensive than NHI, based on the Price/Forward Earnings ratio.
  • The average S&P500 Price/Forward Earnings ratio is at 27.97. NHI is around the same levels.
Industry RankSector Rank
PE 28.46
Fwd PE 25.6
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

  • Based on the Enterprise Value to EBITDA ratio, NHI is valued a bit more expensive than the industry average as 77.05% of the companies are valued more cheaply.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 19.11
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.
  • The excellent profitability rating of NHI may justify a higher PE ratio.
PEG (NY)5.91
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 4.37%, which is a nice return.
  • Compared to an average industry Dividend Yield of 6.81, NHI has a dividend in line with its industry peers.
  • Compared to an average S&P500 Dividend Yield of 1.80, NHI pays a better dividend.
Industry RankSector Rank
Dividend Yield 4.37%

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

  • 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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NATL HEALTH INVESTORS INC

NYSE:NHI (2/10/2026, 8:26:17 PM)

After market: 86.22 0 (0%)

86.22

+1.12 (+1.32%)

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-1.97%
Ins Owners0.77%
Ins Owner Change6.12%
Market Cap4.11B
Revenue(TTM)355.56M
Net Income(TTM)147.08M
Analysts78.18
Price Target87.34 (1.3%)
Short Float %2.84%
Short Ratio6.28
Dividend
Industry RankSector Rank
Dividend Yield 4.37%
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)1.36%
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)0.28%
Revenue NY rev (3m)2.39%
Valuation
Industry RankSector Rank
PE 28.46
Fwd PE 25.6
P/S 11.55
P/FCF N/A
P/OCF 18.14
P/B 2.77
P/tB 2.77
EV/EBITDA 19.11
EPS(TTM)3.03
EY3.51%
EPS(NY)3.37
Fwd EY3.91%
FCF(TTM)-0.91
FCFYN/A
OCF(TTM)4.75
OCFY5.51%
SpS7.46
BVpS31.09
TBVpS31.09
PEG (NY)5.91
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 2.21
F-Score6
WACC7.77%
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 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 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 28.46 and the Price/Book (PB) ratio is 2.77.


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%.