NHP Stock Analysis: National Healthcare | NASDAQ
REIT - Healthcare Facilities | NASDAQ, USA | Market Cap: 1.106m USD | 12M Return: 27.5% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 12.2M
Rev. Trend: -31.4%
Warnings
Tailwinds
Seasonality 0.2 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
National Healthcare Properties, Inc. (NHP) is a U.S.-domiciled real estate investment trust (REIT) that acquires, owns, and manages a diversified portfolio of healthcare-related real estate concentrated in two segments: outpatient medical facilities (OMFs) and senior housing operating properties (SHOPs). As of September 30, 2025, the company held 174 properties across 30 states, encompassing 7.3 million rentable square feet, with substantially all of its operations conducted through its operating partnership (OP) and wholly owned subsidiaries, including taxable REIT subsidiaries (TRS).
NHP completed the internalization of its management on September 27, 2024, bringing previously outsourced functions from its former advisor, Healthcare Trust Advisors, LLC, and property manager, Healthcare Trust Properties, LLC, in-house. For its SHOP segment, the company utilizes the REIT Investment Diversification and Empowerment Act (RIDEA) structure, which allows the REIT to lease qualified healthcare properties to TRSs operated by eligible independent contractors, enabling NHP to capture a share of property operating income in addition to base rent. As of September 30, 2025, the company owned 40 SHOPs operated by four eligible independent contractors across 39 properties, with the portfolio entirely U.S.-based.
Healthcare REITs like NHP benefit from long-term demographic tailwinds, including an aging U.S. population and rising demand for outpatient care, which tends to support stable occupancy and rental income. The RIDEA operating model, in particular, is commonly used by healthcare REITs to obtain greater economic exposure to senior housing operations than a traditional triple-net lease structure would provide.
- SHOP segment occupancy recovery accelerates NOI growth
- OMF rental income supported by lease escalators and renewals
- Interest rate volatility pressures small-cap healthcare REIT valuations
| Net Income: -60.4m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.01 > 0.02 and ΔFCF/TA 6.08 > 1.0 |
| NWC/Revenue: -57.41% < 20% (prev -77.09%; Δ 19.67% < -1%) |
| CFO/TA 0.02 > 3% & CFO 37.2m > Net Income -60.4m |
| Net Debt (954.9m) to EBITDA (73.5m): 12.99 < 3 |
| Current Ratio: 0.41 > 1.5 & < 3 |
| Outstanding Shares: last quarter (28.3m) vs 12m ago 0.14% < -2% |
| Gross Margin: 37.56% > 18% (prev 37.41%; Δ 0.15% > 0.5%) |
| Asset Turnover: 19.38% > 50% (prev 19.31%; Δ 0.07% > 0%) |
| Interest Coverage Ratio: 0.02 > 6 (EBIT TTM 1.21m / Interest Expense TTM 61.4m) |
| A: -0.12 (Total Current Assets 137.5m - Total Current Liabilities 334.0m) / Total Assets 1.70b |
| B: -1.15 (Retained Earnings -1.95b / Total Assets 1.70b) |
| C: 0.00 (EBIT TTM 1.21m / Avg Total Assets 1.76b) |
| D: 0.54 (Book Value of Equity 592.2m / Total Liabilities 1.10b) |
| Altman-Z'' = -3.93 = D |
| DSRI: 1.14 (Receivables 30.9m/28.1m, Revenue 342.1m/353.8m) |
| GMI: 1.00 (GM 37.41% / 37.56%) |
| AQI: 1.00 (AQ_t 0.91 / AQ_t-1 0.91) |
| SGI: 0.97 (Revenue 342.1m / 353.8m) |
| TATA: -0.06 (NI -60.4m - CFO 37.2m) / TA 1.70b) |
| Beneish M = -2.94 (Cap -4..+1) = A |
As of July 18, 2026, the stock is trading at USD 15.86 with a total of 478,504 shares traded. Over the past week, the price has changed by +6.60%, over one month by +18.14%, over three months by +27.49% and over the past year by +27.49%.
Current recommended Stop Loss: 14.70 (which is 7.3% or 1.4 ATR below the current price).
National Healthcare has no consensus analysts rating.
P/S = 3.2319
P/B = 1.8408
Revenue TTM = 342.1m USD
EBIT TTM = 1.21m USD
EBITDA TTM = 73.5m USD
Long Term Debt = 849.6m USD (from longTermDebt, last quarter)
Short Term Debt = 334.0m USD (from shortTermDebt, last quarter)
Debt = 1.06b USD (from shortLongTermDebtTotal, last quarter) + Leases 13.0m
Net Debt = 954.9m USD (calculated: Debt 1.06b - CCE 106.6m)
Enterprise Value = 2.06b USD (1.11b + Debt 1.06b - CCE 106.6m)
Interest Coverage Ratio = 0.02 (Ebit TTM 1.21m / Interest Expense TTM 61.4m)
EV/FCF = 232.3x (Enterprise Value 2.06b / FCF TTM 8.87m)
FCF Yield = 0.43% (FCF TTM 8.87m / Enterprise Value 2.06b)
FCF Margin = 2.59% (FCF TTM 8.87m / Revenue TTM 342.1m)
Net Margin = -17.64% (Net Income TTM -60.4m / Revenue TTM 342.1m)
Gross Margin = 37.56% ((Revenue TTM 342.1m - Cost of Revenue TTM 213.6m) / Revenue TTM)
Gross Margin QoQ = 38.67% (prev 37.24%)
Tobins Q-Ratio = 1.21 (Enterprise Value 2.06b / Total Assets 1.70b)
Interest Expense / Debt = 5.79% (Interest Expense 61.4m / Debt 1.06b)
Taxrate = 21.0% (US federal default 21%)
NOPAT = 959k (EBIT 1.21m * (1 - 21.00%))
Current Ratio = 0.41 (Total Current Assets 137.5m / Total Current Liabilities 334.0m)
Debt / Equity = 1.79 (Debt 1.06b / totalStockholderEquity, last quarter 592.2m)
Debt / EBITDA = 12.99 (Net Debt 954.9m / EBITDA 73.5m)
Debt / FCF = 107.6 (Net Debt 954.9m / FCF TTM 8.87m)
Total Stockholder Equity = 616.6m (last 4 quarters mean from totalStockholderEquity)
RoA = -3.42% (Net Income -60.4m / Total Assets 1.70b)
RoE = -9.79% (Net Income TTM -60.4m / Total Stockholder Equity 616.6m)
RoCE = 0.08% (EBIT 1.21m / Capital Employed (Equity 616.6m + L.T.Debt 849.6m))
RoIC = 0.06% (NOPAT 959k / Invested Capital 1.68b)
WACC = 5.07% (E(1.11b)/V(2.17b) * Re(5.54%) + D(1.06b)/V(2.17b) * Rd(5.79%) * (1-Tc(0.21)))
Discount Rate = 5.54% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 88.56 | Cagr: 0.13%
[DCF] Terminal Value 75.44% ; FCFF base≈8.87m ; Y1≈8.91m ; Y5≈9.44m
[DCF] Fair Price = N/A (negative equity: EV 146.8m - Net Debt 954.9m = -808.2m; debt exceeds intrinsic value)
Revenue Correlation: -31.35 | Revenue CAGR: -0.53% | SUE: N/A | # QB: 0
EPS current Quarter (2026-06-30): EPS=-0.10 | Chg30d=N/A | Revisions=+0% | Analysts=3
EPS next Quarter (2026-09-30): EPS=0.55 | Chg30d=N/A | Revisions=+0% | Analysts=3
EPS current Year (2026-12-31): EPS=0.41 | Chg30d=N/A | Revisions=+0% | GrowthEPS=+0.0% | GrowthRev=+0.0%
EPS next Year (2027-12-31): EPS=0.06 | Chg30d=N/A | Revisions=+0% | GrowthEPS=-85.5% | GrowthRev=+15.1%
[Analyst] Revisions Ratio: +0% (up=0, down=0)