NHI Stock Analysis: National Health Investors | NYSE
REIT - Healthcare Facilities | NYSE, USA | Market Cap: 3.185m USD | 12M Return: -5.3% | US63633D1046 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 22.9M
EPS Trend: 79.5%
Qual. Beats: -2
Rev. Trend: 93.6%
Qual. Beats: 4
Warnings
Tailwinds
Seasonality 11.7 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 Health Investors, Inc. (NHI) is a self-managed real estate investment trust (REIT) that owns, leases, operates, and finances the development of healthcare-related real estate in the United States. The Companys portfolio focuses on senior housing communities and medical facilities, including independent living facilities, assisted living facilities, entrance fee communities, senior living campuses, skilled nursing facilities, and hospitals. NHI operates through two reportable segments: Real Estate Investments and SHOP. The Company was established on October 15, 1991, incorporated in Maryland, and is headquartered in Murfreesboro, Tennessee.
As a REIT, NHI is structured to benefit from pass-through taxation, which generally requires it to distribute a significant portion of its taxable income to shareholders in the form of dividends. The healthcare REIT sub-industry, in which NHI is classified, is characterized by long-term lease agreements with operators and exposure to demographic trends such as the aging U.S. population, which tends to support demand for senior housing and medical facilities.
- Senior housing occupancy recovery lifts SHOP segment revenue
- Interest rate cuts boost healthcare REIT valuations
- Skilled nursing Medicare reimbursement changes pressure tenant operators
| Net Income: 166.8m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.08 > 0.02 and ΔFCF/TA 0.57 > 1.0 |
| NWC/Revenue: -50.58% < 20% (prev -24.24%; Δ -26.33% < -1%) |
| CFO/TA 0.08 > 3% & CFO 250.9m > Net Income 166.8m |
| Net Debt (1.26b) to EBITDA (316.0m): 3.98 < 3 |
| Current Ratio: 0.59 > 1.5 & < 3 |
| Outstanding Shares: last quarter (48.5m) vs 12m ago 3.58% < -2% |
| Gross Margin: 56.25% > 18% (prev 96.72%; Δ -40.47% > 0.5%) |
| Asset Turnover: 15.32% > 50% (prev 12.93%; Δ 2.39% > 0%) |
| Interest Coverage Ratio: 3.90 > 6 (EBIT TTM 223.4m / Interest Expense TTM 57.3m) |
| A: -0.07 (Total Current Assets 314.7m - Total Current Liabilities 533.9m) / Total Assets 2.96b |
| B: -0.13 (Retained Earnings -396.9m / Total Assets 2.96b) |
| C: 0.08 (EBIT TTM 223.4m / Avg Total Assets 2.83b) |
| D: 1.14 (Book Value of Equity 1.57b / Total Liabilities 1.38b) |
| Altman-Z'' = 0.80 = B |
| DSRI: 0.48 (Receivables 209.3m/354.0m, Revenue 433.6m/348.7m) |
| GMI: 1.72 (GM 96.72% / 56.25%) |
| AQI: 12.17 (AQ_t 0.03 / AQ_t-1 0.00) |
| SGI: 1.24 (Revenue 433.6m / 348.7m) |
| TATA: -0.03 (NI 166.8m - CFO 250.9m) / TA 2.96b) |
| Beneish M = 3.99 (Cap -4..+1) = D |
As of October 17, 2026, the stock is trading at USD 66.28 with a total of 207,656 shares traded. Over the past week, the price has changed by +2.21%, over one month by -1.37%, over three months by -15.05% and over the past year by -5.29%.
Current recommended Stop Loss: 64.40 (which is 2.8% or 1.5 ATR below the current price).
National Health Investors has received a consensus analysts rating of 4.25. Therefore, it is recommended to buy NHI.
- StrongBuy: 5
- Buy: 0
- Hold: 3
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 81.9 | 23.5% |
P/E Trailing = 18.7428
P/E Forward = 18.1488
P/S = 7.3083
P/B = 2.1001
P/EG = 4.7612
Revenue TTM = 433.6m USD
EBIT TTM = 223.4m USD
EBITDA TTM = 316.0m USD
Long Term Debt = 836.5m USD (from longTermDebt, last quarter)
Short Term Debt = 438.0m USD (from shortTermDebt, last quarter)
Debt = 1.29b USD (from shortLongTermDebtTotal, last quarter) + Leases 3.74m
Net Debt = 1.26b USD (calculated: Debt 1.29b - CCE 30.4m)
Enterprise Value = 4.44b USD (3.18b + Debt 1.29b - CCE 30.4m)
Interest Coverage Ratio = 3.90 (Ebit TTM 223.4m / Interest Expense TTM 57.3m)
EV/FCF = 18.85x (Enterprise Value 4.44b / FCF TTM 235.7m)
FCF Yield = 5.31% (FCF TTM 235.7m / Enterprise Value 4.44b)
FCF Margin = 54.37% (FCF TTM 235.7m / Revenue TTM 433.6m)
Net Margin = 38.47% (Net Income TTM 166.8m / Revenue TTM 433.6m)
Gross Margin = 56.25% ((Revenue TTM 433.6m - Cost of Revenue TTM 189.7m) / Revenue TTM)
Gross Margin QoQ = 69.91% (prev 31.12%)
Tobins Q-Ratio = 1.50 (Enterprise Value 4.44b / Total Assets 2.96b)
Interest Expense / Debt = 4.45% (Interest Expense 57.3m / Debt 1.29b)
Taxrate = 1.31% (732k / 56.1m)
NOPAT = 220.5m (EBIT 223.4m * (1 - 1.31%))
Current Ratio = 0.59 (Total Current Assets 314.7m / Total Current Liabilities 533.9m)
Debt / Equity = 0.82 (Debt 1.29b / totalStockholderEquity, last quarter 1.57b)
Debt / EBITDA = 3.98 (Net Debt 1.26b / EBITDA 316.0m)
Debt / FCF = 5.34 (Net Debt 1.26b / FCF TTM 235.7m)
Total Stockholder Equity = 1.52b (last 4 quarters mean from totalStockholderEquity)
RoA = 5.89% (Net Income 166.8m / Total Assets 2.96b)
RoE = 10.96% (Net Income TTM 166.8m / Total Stockholder Equity 1.52b)
RoCE = 9.47% (EBIT 223.4m / Capital Employed (Equity 1.52b + L.T.Debt 836.5m))
RoIC = 7.75% (NOPAT 220.5m / Invested Capital 2.85b)
WACC = 4.75% (E(3.18b)/V(4.47b) * Re(4.90%) + D(1.29b)/V(4.47b) * Rd(4.45%) * (1-Tc(0.01)))
Discount Rate = 4.90% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 97.55 | Cagr: 5.03%
[DCF] Terminal Value 77.97% ; FCFF base≈221.0m ; Y1≈253.3m ; Y5≈372.8m
[DCF] Fair Price = 88.64 (EV 5.61b - Net Debt 1.26b = Equity 4.35b / Shares 49.1m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 79.48 | EPS CAGR: 10.55% | SUE: -1.07 | # QB: -2
Revenue Correlation: 93.65 | Revenue CAGR: 11.09% | SUE: 1.41 | # QB: 4
EPS current Quarter (2026-09-30): EPS=4.56 | Chg30d=+388.61% | Revisions=+25% | Analysts=1
EPS current Year (2026-12-31): EPS=14.55 | Chg30d=+296.98% | Revisions=+25% | GrowthEPS=+396.6% | GrowthRev=+21.7%
EPS next Year (2027-12-31): EPS=3.35 | Chg30d=+3.34% | Revisions=-25% | GrowthEPS=-76.9% | GrowthRev=+5.5%
[Analyst] Revisions Ratio: +17% (up=2, down=1)