A Business at a Glance
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NATIONAL HEALTHCARE CORP
NHC
$3.5B
Mkt Cap
$225.69
+1.89%
NATIONAL HEALTHCARE CORP (NHC) has a current P/E ratio of 29.4, compared to its historical median P/E of 17.2. The stock is currently considered Expensive based on its historical valuation range.
NATIONAL HEALTHCARE CORP (NHC) has a 5-year average return on invested capital (ROIC) of 7.0%. This is below average and may indicate limited pricing power.
NATIONAL HEALTHCARE CORP (NHC) has a market capitalization of $3.5B. It is classified as a mid-cap stock.
Yes, NATIONAL HEALTHCARE CORP (NHC) pays a dividend with a trailing twelve-month yield of 1.11%. The company also returns capital through share buybacks, with a buyback yield of 0.83%.
Based on historical P/E analysis, NATIONAL HEALTHCARE CORP (NHC) appears expensive. The current P/E of 29.4 is 71% above its historical median of 17.2. The estimated fair value CAGR (P/E method) is 5.4%.
NATIONAL HEALTHCARE CORP (NHC) operates in the Services-Skilled Nursing Care Facilities industry, within the Healthcare sector.
National HealthCare Corporation, which we also refer to as NHC or the Company, began business in 1971. Our principal business is the operation of skilled nursing facilities, assisted living facilities, independent living facilities, homecare and hospice agencies, and behavioral health hospitals. Our business activities include providing sub–acute and post–acute skilled nursing care, intermediate nursing care, rehabilitative care, memory and Alzheimer’s care, senior living services, home health care services, hospice services, and behavioral health services. In addition, we provide management services, accounting and financial services, as well as insurance services to third party operators of health care facilities. We also own the real estate of 10 healthcare properties and lease these properties to third party operators. We operate in 9 states and our operations are primarily located in the Southeastern and Midwestern parts of the United States.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 1.5B | 1.5B | 1.3B | 1.1B | 1.1B | 1.1B |
| Net Income | 124M | 120M | 102M | 67M | 22M | 139M |
| EPS | $7.96 | $7.67 | $6.53 | $4.34 | $1.45 | $8.99 |
| Free Cash Flow | 168M | 149M | 80M | 83M | -21M | 23M |
| ROIC | 11.3% | 10.4% | 8.0% | 5.8% | 3.3% | 7.5% |
| Gross Margin | - | - | - | - | 8.6% | 10.5% |
| Debt/Equity | 0.00 | 0.08 | 0.22 | 0.10 | 0.14 | 0.18 |
| Dividends/Share | $2.51 | $2.53 | $2.42 | $2.34 | $2.26 | $2.11 |
| Operating Income | 130M | 128M | 90M | 57M | 32M | 51M |
| Operating Margin | 8.5% | 8.5% | 6.9% | 5.0% | 2.9% | 4.7% |
| ROE | 11.3% | 11.7% | 10.8% | 7.5% | 2.5% | 16.3% |
| Shares Outstanding | 16M | 16M | 16M | 15M | 15M | 15M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 872M | 907M | 924M | 964M | 980M | 996M | 1.0B | 1.1B | 1.1B | 1.1B | 1.3B | 1.5B | 1.5B |
| Gross Margin | 16.0% | 15.6% | 14.4% | 13.6% | 13.4% | 12.2% | 10.8% | 10.5% | 8.6% | N/A | N/A | N/A | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 35M | 35M | 29M | 30M | 29M | 27M | 20M | 20M | 21M | 21.4T | 26.2T | 27.5T | 27.5T |
| EBIT | 68M | 67M | 61M | 54M | 56M | 49M | 48M | 51M | 32M | 57M | 90M | 128M | 130M |
| Op. Margin | 7.8% | 7.4% | 6.6% | 5.6% | 5.7% | 4.9% | 4.7% | 4.7% | 2.9% | 5.0% | 6.9% | 8.5% | 8.5% |
| Net Income | 45M | 46M | 51M | 56M | 59M | 68M | 42M | 139M | 22M | 67M | 102M | 120M | 124M |
| Net Margin | 5.1% | 5.1% | 5.5% | 5.8% | 6.0% | 6.8% | 4.1% | 12.9% | 2.1% | 5.9% | 7.8% | 7.9% | 8.1% |
| Non-Recurring | 0 | 0 | 0 | 0 | 1.7M | 0 | 2.8M | 8.2M | 3.7M | 6.2M | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 8.0% | 7.3% | 6.2% | 6.5% | 7.2% | 5.4% | 6.2% | 7.5% | 3.3% | 5.8% | 8.0% | 10.4% | 11.3% |
| ROE | 6.3% | 6.8% | 7.8% | 8.2% | 8.2% | 9.0% | 5.3% | 16.3% | 2.5% | 7.5% | 10.8% | 11.7% | 11.3% |
| ROA | 4.3% | 4.4% | 4.7% | 5.1% | 5.4% | 5.8% | 3.2% | 10.0% | 1.7% | 5.2% | 7.2% | 7.9% | 8.1% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 76M | 83M | 91M | 94M | 98M | 100M | 203M | 62M | 8.7M | 111M | 107M | 185M | 208M |
| Free Cash Flow | 22M | 25M | 28M | 62M | 69M | 74M | 181M | 23M | -21M | 83M | 80M | 149M | 168M |
| Owner Earnings | 39M | 44M | 51M | 50M | 55M | 56M | 159M | 19M | -34M | 66M | 61M | 136M | 158M |
| CapEx | 53M | 58M | 63M | 32M | 30M | 26M | 22M | 39M | 30M | 28M | 28M | 36M | 40M |
| Maint. CapEx | 34M | 37M | 39M | 43M | 42M | 42M | 42M | 41M | 40M | 42M | 42M | 45M | 46M |
| Growth CapEx | 19M | 21M | 24M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 34M | 37M | 39M | 43M | 42M | 42M | 42M | 41M | 40M | 42M | 42M | 45M | 46M |
| CapEx/OCF | 70.4% | 70.1% | 68.9% | 34.2% | 30.2% | 26.4% | 10.8% | 63.1% | 345.5% | 25.1% | 25.7% | 19.7% | 19.2% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 19M | 21M | 26M | 28M | 30M | 31M | 32M | 32M | 35M | 36M | 37M | 39M | 39M |
| Dividend Yield | 3.3% | 3.1% | 3.4% | 3.5% | 3.5% | 3.0% | 3.6% | 3.3% | 3.7% | 3.8% | 2.2% | 2.3% | 1.1% |
| Share Buybacks | 7.0M | 0 | 8.2M | 0 | 867K | 872K | 53K | 836K | 9.9M | 2.5M | 14M | 15M | 29M |
| Buyback Yield | 1.0% | N/A | 0.9% | N/A | 0.1% | 0.1% | 0.0% | 0.1% | 1.2% | 0.2% | 0.8% | 0.7% | 0.8% |
| Stock-Based Comp | 2.0M | 2.0M | 509K | 1.7M | 1.8M | 1.9M | 2.5M | 2.6M | 2.6M | 2.8M | 4.2M | 4.4M | 4.7M |
| Debt Repayment | 2.4M | 3.1M | 3.3M | 20M | 45M | 45M | 50M | 0 | 0 | 0 | 13M | 97M | 97M |
| Balance Sheet | |||||||||||||
| Net Debt | -188M | -30M | -40M | -90M | -128M | 11M | -147M | -113M | -75M | -142M | 19M | -129M | -208M |
| Cash & Equiv. | 70M | 38M | 26M | 59M | 43M | 50M | 147M | 108M | 59M | 107M | 76M | 93M | 208M |
| Long-Term Debt | 10M | 120M | 120M | 100M | 55M | 0 | 11M | 5.8M | 860K | 0 | 130M | 33M | N/A |
| Debt/Equity | 0.02 | 0.20 | 0.19 | 0.15 | 0.08 | 0.27 | 0.24 | 0.18 | 0.14 | 0.10 | 0.22 | 0.08 | 0.00 |
| Interest Coverage | 31.4 | 25.7 | 15.4 | 11.1 | 11.9 | 15.6 | 34.4 | 60.3 | 56.7 | 177.3 | 21.7 | 20.1 | 28.6 |
| Equity | 734M | 631M | 670M | 703M | 733M | 779M | 795M | 903M | 874M | 909M | 980M | 1.1B | 1.1B |
| Total Assets | 1.1B | 1.0B | 1.1B | 1.1B | 1.1B | 1.3B | 1.4B | 1.4B | 1.3B | 1.3B | 1.5B | 1.5B | 1.5B |
| Total Liabilities | 340M | 414M | 418M | 393M | 346M | 508M | 564M | 495M | 398M | 400M | 541M | 452M | 427M |
| Intangibles | N/A | N/A | N/A | N/A | N/A | N/A | 0 | 7.0M | 7.0M | 7.0M | 20M | 20M | 20M |
| Retained Earnings | 344M | 368M | 392M | 419M | 516M | 553M | 563M | 669M | 657M | 688M | 752M | 833M | 859M |
| Working Capital | 139M | 128M | 140M | 174M | 164M | 146M | 176M | 163M | 156M | 192M | 190M | 208M | 215M |
| Current Assets | 323M | 279M | 291M | 329M | 322M | 341M | 457M | 427M | 354M | 406M | 424M | 462M | 466M |
| Current Liabilities | 184M | 151M | 151M | 155M | 158M | 195M | 281M | 263M | 198M | 214M | 235M | 254M | 251M |
| Per Share Data | |||||||||||||
| EPS | 3.14 | 3.20 | 3.32 | 3.69 | 3.87 | 4.44 | 2.72 | 8.99 | 1.45 | 4.34 | 6.53 | 7.67 | 7.96 |
| Owner EPS | 2.76 | 3.06 | 3.37 | 3.29 | 3.59 | 3.63 | 10.32 | 1.24 | -2.22 | 4.31 | 3.92 | 8.68 | 10.13 |
| Book Value | 51.57 | 43.59 | 43.99 | 46.14 | 48.13 | 50.68 | 51.66 | 58.58 | 56.48 | 59.04 | 62.79 | 68.30 | 69.90 |
| Cash Flow/Share | 5.32 | 5.76 | 5.97 | 6.20 | 6.46 | 6.52 | 13.20 | 4.05 | 0.56 | 7.23 | 6.87 | 11.83 | 10.84 |
| Dividends/Share | 1.34 | 1.54 | 1.75 | 1.89 | 1.98 | 2.06 | 2.08 | 2.11 | 2.26 | 2.34 | 2.42 | 2.53 | 2.51 |
| Shares Out. | 14.2M | 14.5M | 15.2M | 15.2M | 15.2M | 15.4M | 15.4M | 15.4M | 15.5M | 15.4M | 15.6M | 15.6M | 15.6M |
| Valuation | |||||||||||||
| P/E Ratio | 15.0 | 14.8 | 18.0 | 13.3 | 16.5 | 16.0 | 21.8 | 6.7 | 38.3 | 20.8 | 16.3 | 18.0 | 28.4 |
| P/FCF | 29.9 | 27.4 | 32.1 | 12.0 | 14.2 | 14.8 | 5.0 | 40.6 | N/A | 16.7 | 20.9 | 14.5 | 20.9 |
| EV/EBIT | 7.1 | 9.7 | 14.3 | 12.1 | 15.1 | 20.6 | 13.3 | 14.4 | 23.6 | 20.6 | 18.4 | 15.8 | 25.5 |
| Price/Book | 0.9 | 1.1 | 1.4 | 1.1 | 1.3 | 1.4 | 1.1 | 1.0 | 1.0 | 1.5 | 1.7 | 2.0 | 3.2 |
| Price/Sales | 0.7 | 0.8 | 0.8 | 0.8 | 0.9 | 1.0 | 0.9 | 0.9 | 0.9 | 0.8 | 1.3 | 1.1 | 2.3 |
| FCF Yield | 3.3% | 3.6% | 3.1% | 8.3% | 7.1% | 6.8% | 19.9% | 2.5% | -2.5% | 6.0% | 4.8% | 6.9% | 4.8% |
| Market Cap | 669M | 684M | 909M | 748M | 972M | 1.1B | 913M | 934M | 860M | 1.4B | 1.7B | 2.2B | 3.5B |
| Avg. Price | 40.42 | 47.13 | 49.35 | 53.46 | 56.01 | 66.66 | 58.33 | 62.45 | 60.42 | 60.27 | 106.26 | 107.02 | 225.69 |
| Year-End Price | 47.01 | 47.23 | 59.70 | 49.12 | 63.80 | 70.85 | 59.30 | 60.57 | 55.57 | 90.36 | 106.60 | 138.04 | 225.69 |
NATIONAL HEALTHCARE CORP passes 3 of 9 quality checks, indicating weak fundamentals.
NATIONAL HEALTHCARE CORP trades at 29.4x trailing earnings, compared to its 15-year median P/E of 17.2x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 23.6x vs a median of 14.8x. The company's 5-year average ROIC is 7.0% with a gross margin of 9.6%. Total shareholder yield (dividends + buybacks) is 1.9%. At current prices, the estimated annualized return to fair value is -1.9%.
NATIONAL HEALTHCARE CORP (NHC) reported annual revenue of $1.5 billion in its most recent fiscal year, based on SEC EDGAR filings.
NATIONAL HEALTHCARE CORP (NHC) has a net profit margin of 7.9%. This is a modest margin.
NATIONAL HEALTHCARE CORP (NHC) generated $149 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
NATIONAL HEALTHCARE CORP (NHC) has a debt-to-equity ratio of 0.08. This indicates a conservatively financed balance sheet.
NATIONAL HEALTHCARE CORP (NHC) reported earnings per share (EPS) of $7.67 in its most recent fiscal year.
NATIONAL HEALTHCARE CORP (NHC) has a return on equity (ROE) of 11.7%. This indicates moderate shareholder returns.
NATIONAL HEALTHCARE CORP (NHC) has a 5-year average gross margin of 9.6%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 17 years of financial data for NATIONAL HEALTHCARE CORP (NHC), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
NATIONAL HEALTHCARE CORP (NHC) has a book value per share of $68.30, based on its most recent annual SEC filing.