National Health Investors (NHI) Financials

$74.76 +0.78 (+1.05%)

Closing price 03:59 PM Eastern

Extended Trading

$74.56 -0.20 (-0.27%)

As of 04:05 PM Eastern

Annual Income Statements for National Health Investors

This table shows National Health Investors' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	149	152	159	154	160	185	112	66	136	138
Consolidated Net Income / (Loss)	150	153	159	154	160	185	112	66	134	137
Net Income / (Loss) Continuing Operations	150	153	159	154	160	185	112	66	134	137
Total Pre-Tax Income	150	153	159	154	160	188	112	66	134	136
Total Operating Income	127	119	151	155	161	171	83	65	177	130
Total Gross Profit	229	248	279	295	318	333	299	307	320	342
Total Revenue	229	248	279	295	318	333	299	307	320	342
Operating Revenue	229	248	279	295	318	333	299	307	320	342
Total Cost of Revenue	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Operating Expenses	102	130	127	140	157	162	216	242	143	212
Selling, General & Admin Expense	11	9.77	12	13	13	13	18	23	19	21
Depreciation Expense	53	60	67	71	77	83	81	71	70	71
Other Operating Expenses / (Income)	38	60	47	55	66	64	117	148	53	120
Total Other Income / (Expense), net	23	35	7.87	-0.74	-0.82	17	29	0.96	-43	6.26
Interest Expense	0.00	0.00	2.21	0.74	0.82	3.92	1.91	0.15	58	0.00
Other Income / (Expense), net	25	36	10	0.00	0.00	21	32	1.11	15	6.26
Other Gains / (Losses), net	-	-	-	0.00	0.00	-3.13	-	0.57	0.56	0.40
Other Adjustments to Consolidated Net Income / (Loss)	-	-	-	-	-	-	-	-0.71	-	0.00
Preferred Stock Dividends Declared	-	-	-	-	-	-	-	0.00	-	0.12
Net Income / (Loss) Attributable to Noncontrolling Interest	1.45	1.18	0.00	0.00	-0.01	0.19	0.16	-0.90	-1.27	-1.35
Basic Earnings per Share	$3.96	$3.88	$3.90	$3.68	$3.70	$4.14	$2.45	$1.48	$3.13	$3.14
Weighted Average Basic Shares Outstanding	37.60M	39.01M	40.89M	41.94M	43.42M	44.70M	45.71M	44.77M	43.39M	43.84M
Diluted Earnings per Share	$3.95	$3.87	$3.87	$3.67	$3.67	$4.14	$2.44	$1.48	$3.13	$3.13
Weighted Average Diluted Shares Outstanding	37.64M	39.16M	41.15M	42.09M	43.70M	44.70M	45.73M	44.79M	43.39M	44.10M
Weighted Average Basic & Diluted Shares Outstanding	38.40M	39.85M	41.53M	42.74M	44.59M	45.19M	45.85M	43.39M	43.41M	45.69M
Cash Dividends to Common per Share	$3.40	$3.60	$3.80	$4.00	$4.20	$4.41	$3.80	$3.60	$3.60	$2.84

This table shows National Health Investors' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	34	1.86	34	40	29	32	31	35	29	43
Consolidated Net Income / (Loss)	34	1.56	34	39	29	32	31	35	28	43
Net Income / (Loss) Continuing Operations	34	2.27	34	39	29	32	31	35	28	43
Total Pre-Tax Income	34	2.00	34	39	29	31	30	35	28	43
Total Operating Income	19	31	33	42	43	59	30	48	43	8.45
Total Gross Profit	76	99	82	78	80	79	82	85	83	92
Total Revenue	76	99	82	78	80	79	82	85	83	92
Operating Revenue	76	99	82	78	80	79	82	85	83	92
Total Operating Expenses	57	68	50	36	37	21	51	37	40	84
Selling, General & Admin Expense	4.74	4.87	5.65	4.31	4.43	4.93	5.64	4.87	4.81	5.41
Depreciation Expense	18	17	18	18	18	17	18	17	18	19
Other Operating Expenses / (Income)	35	46	26	14	15	-1.39	28	15	17	60
Total Other Income / (Expense), net	15	-29	1.40	-2.88	-14	-28	0.10	-13	-15	34
Other Income / (Expense), net	15	-28	1.40	11	0.94	1.02	0.10	1.52	0.10	4.54
Net Income / (Loss) Attributable to Noncontrolling Interest	-0.24	-0.30	-0.30	-0.33	-0.31	-0.33	-0.29	-0.30	-0.30	-0.45
Basic Earnings per Share	$0.78	$0.05	$0.79	$0.92	$0.68	$0.74	$0.71	$0.81	$0.66	$0.96
Weighted Average Basic Shares Outstanding	44.34M	44.77M	43.39M	43.39M	43.39M	43.39M	43.39M	43.40M	43.48M	43.84M
Diluted Earnings per Share	$0.78	$0.05	$0.79	$0.92	$0.68	$0.74	$0.71	$0.81	$0.65	$0.96
Weighted Average Diluted Shares Outstanding	44.40M	44.79M	43.39M	43.39M	43.39M	43.39M	43.42M	43.56M	43.99M	44.10M
Weighted Average Basic & Diluted Shares Outstanding	43.39M	43.39M	43.39M	43.41M	43.41M	43.41M	43.42M	43.44M	45.42M	45.69M

This table details how cash moves in and out of National Health Investors' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Change in Cash & Equivalents	10.00	-9.04	-0.80	1.84	5.76	31	-6.86	-18	3.10	1.89
Net Cash From Operating Activities	164	177	198	208	241	232	211	185	184	208
Net Cash From Continuing Operating Activities	168	177	198	208	240	231	211	185	184	208
Net Income / (Loss) Continuing Operations	150	153	159	154	160	185	112	66	134	137
Consolidated Net Income / (Loss)	150	153	159	154	160	185	112	66	134	137
Depreciation Expense	53	60	67	71	77	83	81	71	70	71
Amortization Expense	3.51	2.91	5.39	4.16	4.62	4.53	4.65	11	6.79	9.36
Non-Cash Adjustments To Reconcile Net Income	-43	-39	-32	-21	-20	-35	14	41	-30	-7.12
Changes in Operating Assets and Liabilities, net	3.76	0.16	-1.69	-0.57	19	-6.74	-0.44	-2.70	3.29	-2.56
Net Cash From Investing Activities	-136	-330	-164	-250	-343	-90	185	198	-12	-192
Net Cash From Continuing Investing Activities	-136	-330	-164	-250	-343	-90	185	198	-12	-192
Purchase of Property, Plant & Equipment	-109	-363	-176	-132	-219	-103	-47	-6.36	-38	-138
Purchase of Investments	-8.46	-	-	-16	-18	-14	-3.47	-4.63	-7.73	-16
Sale of Property, Plant & Equipment	-	-	-	0.00	0.00	40	239	169	57	6.18
Sale and/or Maturity of Investments	57	60	18	-	0.00	0.00	1.21	0.57	3.06	0.40
Other Investing Activities, net	-76	-20	-6.24	-103	-105	-12	-4.51	39	-26	-45
Net Cash From Financing Activities	-18	144	-35	44	107	-112	-403	-401	-170	-14
Net Cash From Continuing Financing Activities	-18	144	-35	44	107	-112	-403	-401	-170	-14
Repayment of Debt	-343	-1.03	-462	-446	-182	-253	-693	-323	-579	-442
Repurchase of Common Equity	-	-	-	-	-	0.00	0.00	-152	0.00	-0.93
Payment of Dividends	-127	-140	-153	-165	-180	-195	-184	-163	-158	-158
Issuance of Debt	403	199	519	606	397	305	492	225	564	450
Issuance of Common Equity	49	104	122	82	96	35	48	12	2.97	144
Other Financing Activities, net	0.00	-18	-0.57	-1.84	-1.56	-2.71	0.00	-0.29	0.00	-5.82
Cash Interest Paid	31	40	43	46	54	43	44	43	52	55

This table details how cash moves in and out of National Health Investors' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	-14	-10	-5.99	3.75	-0.78	6.12	-11	3.57	0.86	8.74
Net Cash From Operating Activities	44	46	31	50	50	53	41	61	49	58
Net Cash From Continuing Operating Activities	44	46	31	50	50	53	41	61	49	58
Net Income / (Loss) Continuing Operations	34	1.56	34	39	29	32	31	35	28	43
Consolidated Net Income / (Loss)	34	1.56	34	39	29	32	31	35	28	43
Depreciation Expense	18	17	18	18	18	17	18	17	18	19
Amortization Expense	1.06	1.08	1.20	1.72	1.94	1.93	2.07	2.59	2.02	2.69
Non-Cash Adjustments To Reconcile Net Income	-6.14	23	-15	-14	0.53	-2.21	2.18	-1.17	2.83	-11
Changes in Operating Assets and Liabilities, net	-3.14	3.36	-7.27	5.22	0.68	4.66	-12	6.88	-2.23	4.38
Net Cash From Investing Activities	55	-49	-28	34	-20	2.34	-16	-13	-1.57	-161
Net Cash From Continuing Investing Activities	55	-49	-28	34	-20	2.34	-16	-13	-1.57	-161
Purchase of Property, Plant & Equipment	-	-1.49	-38	-	-	-	0.00	-9.87	-	-128
Purchase of Investments	-1.26	-0.50	-1.15	-1.76	-2.57	-2.26	-2.29	-2.75	-4.68	-6.02
Sale of Property, Plant & Equipment	60	0.00	10	38	2.92	5.49	0.00	4.66	-	1.52
Other Investing Activities, net	-3.88	-47	-0.99	-3.15	-20	-1.45	-14	-5.63	3.11	-28
Net Cash From Financing Activities	-113	-7.36	-9.52	-80	-31	-49	-36	-44	-46	112
Net Cash From Continuing Financing Activities	-113	-7.36	-9.52	-80	-31	-49	-36	-44	-46	112
Repayment of Debt	-60	-28	-164	-281	-43	-91	-56	-65	-125	-197
Repurchase of Common Equity	-82	-0.05	-	-	-	-	-	-	-	-0.15
Payment of Dividends	-40	-39	-39	-39	-39	-39	-39	-39	-39	-40
Issuance of Debt	70	60	192	239	52	81	59	61	124	206
Issuance of Common Equity	-	-	2.00	0.92	-	0.05	0.00	0.07	-	143
Cash Interest Paid	14	8.73	16	10	15	11	17	11	17	10

This table presents National Health Investors' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Total Assets	2,133	2,404	2,546	2,751	3,042	3,120	2,839	2,507	2,488	2,614
Total Current Assets	86	4.64	3.06	4.66	5.22	43	37	19	22	24
Cash & Equivalents	13	4.64	3.06	4.66	5.22	43	37	19	22	24
Plant, Property, & Equipment, net	1,837	2,160	2,286	2,367	2,560	2,667	2,318	2,118	2,107	2,211
Plant, Property & Equipment, gross	2,096	2,473	2,666	2,818	3,075	3,265	2,895	2,730	2,780	2,954
Accumulated Depreciation	259	313	380	451	514	598	577	612	673	742
Total Noncurrent Assets	210	2,724	257	379	477	410	484	327	359	379
Noncurrent Note & Lease Receivables	193	133	141	246	340	292	300	233	245	269
Other Noncurrent Operating Assets	17	2,590	116	133	136	117	184	93	109	110
Other Noncurrent Nonoperating Assets	-	-	-	-	-	-	-	0.00	5.00	0.00
Total Liabilities & Shareholders' Equity	2,133	2,404	2,546	2,751	3,042	3,120	2,839	2,507	2,488	2,614
Total Liabilities	991	1,194	1,224	1,361	1,544	1,598	1,322	1,218	1,214	1,229
Total Current Liabilities	20	21	16	63	26	25	23	26	34	38
Accounts Payable	20	21	16	20	26	25	23	26	34	38
Total Noncurrent Liabilities	971	1,173	1,207	1,298	1,518	1,572	1,299	1,192	1,180	1,191
Long-Term Debt	914	1,116	1,145	1,282	1,440	1,499	1,243	1,148	1,135	1,146
Noncurrent Deferred Revenue	2.26	-	1.17	5.95	20	13	5.73	5.05	6.01	4.28
Other Noncurrent Operating Liabilities	54	57	61	11	57	60	50	39	39	41
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	-	-	-	-	-	-	0.00	9.83	9.66	9.79
Total Equity & Noncontrolling Interests	1,142	1,210	1,322	1,390	1,498	1,523	1,517	1,280	1,264	1,375
Total Preferred & Common Equity	1,133	1,210	1,322	1,390	1,498	1,512	1,507	1,270	1,254	1,366
Total Common Equity	1,133	1,210	1,322	1,390	1,498	1,512	1,507	1,270	1,254	1,366
Common Stock	1,086	1,174	1,290	1,370	1,506	1,541	1,592	1,600	1,604	1,737
Retained Earnings	20	30	33	-	-5.33	-	-	-330	-350	-371
Noncontrolling Interest	9.17	-	-	0.00	0.62	11	9.90	9.86	10	8.91

This table presents National Health Investors' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Total Assets	2,509	2,533	2,498	2,499	2,478	2,477	2,460
Total Current Assets	111	14	17	17	11	15	16
Cash & Equivalents	29	14	17	17	11	15	16
Plant, Property, & Equipment, net	2,141	2,165	2,135	2,120	2,093	2,106	2,097
Plant, Property & Equipment, gross	2,737	2,791	2,774	2,777	2,783	2,812	2,820
Accumulated Depreciation	599	626	639	656	691	706	724
Total Noncurrent Assets	257	354	346	362	374	356	348
Noncurrent Note & Lease Receivables	207	299	306	243	343	241	233
Other Noncurrent Operating Assets	17	29	27	108	26	109	109
Other Noncurrent Nonoperating Assets	33	27	13	11	5.00	5.67	5.67
Total Liabilities & Shareholders' Equity	2,509	2,533	2,498	2,499	2,478	2,477	2,460
Total Liabilities	1,182	1,245	1,208	1,218	1,211	1,213	1,213
Total Current Liabilities	23	25	29	29	27	33	33
Accounts Payable	23	25	29	29	27	33	33
Total Noncurrent Liabilities	1,159	1,220	1,179	1,189	1,184	1,180	1,180
Long-Term Debt	1,115	1,176	1,135	1,144	1,139	1,136	1,136
Noncurrent Deferred Revenue	5.09	4.94	5.28	5.43	5.43	5.11	4.61
Other Noncurrent Operating Liabilities	39	39	39	39	39	39	39
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	11	9.52	10	9.92	9.43	9.17	8.93
Total Equity & Noncontrolling Interests	1,315	1,279	1,280	1,271	1,258	1,254	1,238
Total Preferred & Common Equity	1,306	1,267	1,269	1,260	1,248	1,244	1,229
Total Common Equity	1,306	1,267	1,269	1,260	1,248	1,244	1,229
Common Stock	1,598	1,602	1,602	1,603	1,606	1,607	1,602
Retained Earnings	-	-334	-333	-343	-358	-362	-373
Noncontrolling Interest	9.08	12	11	11	10	9.89	9.53

This table displays calculated financial ratios and metrics derived from National Health Investors' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	28.98%	8.52%	12.15%	5.72%	7.97%	4.63%	-10.24%	2.62%	4.34%	6.89%
EBITDA Growth	44.62%	4.38%	7.84%	-1.52%	5.26%	15.38%	-28.39%	-26.37%	81.95%	-19.20%
EBIT Growth	46.77%	2.18%	4.46%	-4.03%	4.00%	19.28%	-40.18%	-42.83%	191.61%	-28.99%
NOPAT Growth	23.46%	-7.17%	28.18%	2.36%	4.00%	6.06%	-51.72%	-21.67%	173.83%	-26.62%
Net Income Growth	45.86%	1.60%	4.35%	-3.16%	3.96%	15.50%	-39.58%	-41.50%	105.16%	1.68%
EPS Growth	29.93%	-2.03%	0.00%	-5.17%	0.00%	12.81%	-41.06%	-39.34%	111.49%	0.00%
Operating Cash Flow Growth	30.35%	7.43%	12.15%	4.93%	0.00%	0.00%	-9.17%	-12.10%	-0.48%	12.64%
Free Cash Flow Firm Growth	106.54%	-9,912.14%	191.75%	-103.60%	30.07%	300.09%	169.78%	21.62%	-58.72%	-97.18%
Invested Capital Growth	5.32%	143.83%	-48.71%	9.94%	8.27%	1.55%	-8.61%	-12.77%	0.29%	5.26%
Revenue Q/Q Growth	5.98%	2.61%	2.24%	0.99%	2.65%	-0.28%	-3.74%	10.59%	2.83%	3.94%
EBITDA Q/Q Growth	18.36%	23.19%	7.74%	-0.89%	3.02%	0.22%	-15.36%	-4.39%	28.11%	6.71%
EBIT Q/Q Growth	22.92%	33.72%	9.85%	-1.49%	3.72%	-0.34%	-23.48%	-6.55%	43.63%	9.06%
NOPAT Q/Q Growth	3.39%	2.39%	3.00%	-1.49%	3.72%	-0.57%	-33.22%	85.54%	46.88%	6.38%
Net Income Q/Q Growth	21.58%	-8.18%	-2.08%	-0.46%	3.19%	-2.56%	-21.50%	-7.02%	28.94%	8.82%
EPS Q/Q Growth	18.98%	-9.58%	-3.25%	-0.81%	2.23%	-2.82%	-22.04%	-5.73%	28.28%	7.56%
Operating Cash Flow Q/Q Growth	6.96%	2.14%	2.49%	-0.28%	0.00%	0.00%	-1.06%	-3.64%	3.85%	2.15%
Free Cash Flow Firm Q/Q Growth	105.57%	-1,468.01%	289,050.12%	-877.89%	68.25%	4.41%	-0.54%	-2.59%	65.24%	-96.96%
Invested Capital Q/Q Growth	-1.46%	109.96%	1.21%	4.98%	-0.02%	-0.23%	-1.67%	-0.23%	-0.67%	6.11%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	90.85%	87.38%	84.03%	78.27%	76.31%	84.14%	67.13%	48.16%	83.99%	63.49%
Operating Margin	55.35%	47.80%	54.36%	52.64%	50.70%	51.39%	27.64%	21.10%	55.38%	38.02%
EBIT Margin	66.12%	62.26%	57.98%	52.64%	50.70%	57.80%	38.52%	21.46%	59.99%	39.85%
Profit (Net Income) Margin	65.65%	61.47%	57.19%	52.39%	50.44%	55.68%	37.48%	21.37%	42.02%	39.97%
Tax Burden Percent	100.47%	99.51%	100.00%	100.00%	100.00%	98.34%	100.31%	99.79%	100.57%	100.30%
Interest Burden Percent	98.83%	99.22%	98.63%	99.52%	99.49%	97.96%	97.00%	99.77%	69.65%	100.00%
Effective Tax Rate	-0.47%	0.49%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	6.63%	3.49%	4.17%	5.99%	5.72%	5.79%	2.90%	2.54%	7.45%	5.32%
ROIC Less NNEP Spread (ROIC-NNEP)	9.42%	5.05%	4.50%	5.93%	5.66%	6.77%	5.11%	2.61%	3.55%	5.92%
Return on Net Nonoperating Assets (RNNOA)	7.08%	9.50%	8.42%	5.39%	5.40%	6.48%	4.47%	2.13%	3.04%	4.96%
Return on Equity (ROE)	13.71%	12.99%	12.59%	11.38%	11.11%	12.27%	7.37%	4.67%	10.48%	10.28%
Cash Return on Invested Capital (CROIC)	1.44%	-80.17%	68.57%	-3.47%	-2.23%	4.25%	11.89%	16.18%	7.16%	0.20%
Operating Return on Assets (OROA)	7.36%	6.82%	6.53%	5.86%	5.57%	6.24%	3.86%	2.46%	7.68%	5.34%
Return on Assets (ROA)	7.30%	6.73%	6.44%	5.83%	5.54%	6.01%	3.76%	2.45%	5.38%	5.36%
Return on Common Equity (ROCE)	13.59%	12.94%	12.59%	11.38%	11.11%	12.22%	7.32%	4.62%	10.32%	10.13%
Return on Equity Simple (ROE_SIMPLE)	13.26%	12.63%	12.05%	11.11%	10.71%	12.25%	7.43%	5.16%	10.72%	10.00%
Net Operating Profit after Tax (NOPAT)	127	118	151	155	161	171	83	65	177	130
NOPAT Margin	55.61%	47.57%	54.36%	52.64%	50.70%	51.39%	27.64%	21.10%	55.38%	38.02%
Net Nonoperating Expense Percent (NNEP)	-2.79%	-1.56%	-0.33%	0.06%	0.06%	-0.99%	-2.21%	-0.07%	3.90%	-0.60%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	2.66%	7.38%	5.15%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	4.59%	3.93%	4.38%	4.26%	4.21%	4.00%	6.17%	7.43%	6.04%	6.07%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	44.65%	52.20%	45.64%	47.36%	49.30%	48.61%	72.36%	78.90%	44.62%	61.98%
Earnings before Interest and Taxes (EBIT)	151	155	162	155	161	192	115	66	192	136
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	208	217	234	231	243	280	201	148	269	217
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.22	1.56	1.59	1.62	1.78	1.64	1.49	1.58	1.84	2.30
Price to Tangible Book Value (P/TBV)	1.22	1.56	1.59	1.62	1.78	1.64	1.49	1.58	1.84	2.30
Price to Revenue (P/Rev)	6.05	7.57	7.52	7.66	8.40	7.46	7.52	6.55	7.20	9.21
Price to Earnings (P/E)	9.31	12.42	13.16	14.63	16.65	13.41	20.09	30.24	16.97	22.83
Dividend Yield	9.22%	7.62%	7.53%	7.48%	6.91%	7.94%	7.76%	7.78%	6.79%	5.19%
Earnings Yield	10.75%	8.05%	7.60%	6.83%	6.01%	7.46%	4.98%	3.31%	5.89%	4.38%
Enterprise Value to Invested Capital (EV/IC)	1.13	0.62	1.31	1.30	1.40	1.33	1.27	1.33	1.44	1.71
Enterprise Value to Revenue (EV/Rev)	9.71	12.05	11.62	12.00	12.91	11.87	11.59	10.29	10.74	12.54
Enterprise Value to EBITDA (EV/EBITDA)	10.69	13.79	13.83	15.33	16.92	14.10	17.26	21.37	12.78	19.76
Enterprise Value to EBIT (EV/EBIT)	14.68	19.35	20.05	22.80	25.47	20.53	30.08	47.96	17.90	31.48
Enterprise Value to NOPAT (EV/NOPAT)	17.46	25.33	21.38	22.80	25.47	23.09	41.92	48.79	19.39	32.99
Enterprise Value to Operating Cash Flow (EV/OCF)	13.52	16.95	16.35	17.01	0.00	17.01	16.42	17.03	18.62	20.64
Enterprise Value to Free Cash Flow (EV/FCFF)	80.29	0.00	1.30	0.00	0.00	31.43	10.21	7.65	20.18	894.49
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.80	0.92	0.87	0.92	0.96	0.98	0.82	0.89	0.89	0.83
Long-Term Debt to Equity	0.80	0.92	0.87	0.92	0.96	0.98	0.82	0.89	0.89	0.83
Financial Leverage	0.75	1.88	1.87	0.91	0.95	0.96	0.88	0.82	0.86	0.84
Leverage Ratio	1.88	1.93	1.96	1.95	2.01	2.04	1.96	1.90	1.95	1.92
Compound Leverage Factor	1.86	1.91	1.93	1.94	2.00	2.00	1.90	1.90	1.36	1.92
Debt to Total Capital	44.46%	47.99%	46.42%	47.98%	49.02%	49.61%	45.03%	47.08%	47.12%	45.28%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	44.46%	47.99%	46.42%	47.98%	49.02%	49.61%	45.03%	47.08%	47.12%	45.28%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.45%	0.00%	0.00%	0.00%	0.02%	0.35%	0.36%	0.81%	0.83%	0.74%
Common Equity to Total Capital	55.10%	52.01%	53.58%	52.02%	50.96%	50.04%	54.61%	52.11%	52.05%	53.98%
Debt to EBITDA	4.40	5.14	4.89	5.56	5.93	5.35	6.20	7.77	4.23	5.28
Net Debt to EBITDA	3.98	5.12	4.88	5.54	5.91	5.20	6.01	7.64	4.14	5.17
Long-Term Debt to EBITDA	4.40	5.14	4.89	5.56	5.93	5.35	6.20	7.77	4.23	5.28
Debt to NOPAT	7.18	9.44	7.56	8.27	8.93	8.77	15.05	17.74	6.41	8.82
Net Debt to NOPAT	6.51	9.40	7.54	8.24	8.90	8.51	14.60	17.44	6.28	8.63
Long-Term Debt to NOPAT	7.18	9.44	7.56	8.27	8.93	8.77	15.05	17.74	6.41	8.82
Altman Z-Score	1.23	1.27	1.36	1.26	1.31	1.25	1.26	1.01	1.32	1.63
Noncontrolling Interest Sharing Ratio	0.87%	0.39%	0.00%	0.00%	0.02%	0.38%	0.68%	1.05%	1.55%	1.46%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	4.27	0.22	0.19	0.07	0.20	1.72	1.61	0.74	0.65	0.64
Quick Ratio	4.27	0.22	0.19	0.07	0.20	1.72	1.61	0.74	0.65	0.64
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	28	-2,716	2,492	-90	-63	126	339	412	170	4.79
Operating Cash Flow to CapEx	150.20%	48.71%	112.69%	157.77%	0.00%	368.02%	0.00%	0.00%	0.00%	157.46%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	1,125.78	-121.69	-76.31	32.02	177.31	2,730.53	2.92	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	89.47	281.67	0.00	59.16	110.28	1,227.42	3.17	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	10.07	103.13	0.00	43.09	210.72	2,304.20	3.49	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.11	0.11	0.11	0.11	0.11	0.11	0.10	0.11	0.13	0.13
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.13	0.12	0.13	0.13	0.13	0.13	0.12	0.14	0.15	0.16
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,971	4,806	2,465	2,709	2,934	2,979	2,722	2,375	2,382	2,507
Invested Capital Turnover	0.12	0.07	0.08	0.11	0.11	0.11	0.10	0.12	0.13	0.14
Increase / (Decrease) in Invested Capital	100	2,835	-2,341	245	224	45	-256	-348	6.92	125
Enterprise Value (EV)	2,223	2,993	3,239	3,535	4,108	3,949	3,462	3,156	3,434	4,288
Market Capitalization	1,385	1,882	2,097	2,258	2,672	2,483	2,246	2,008	2,301	3,148
Book Value per Share	$30.17	$30.36	$31.83	$32.91	$34.07	$33.81	$32.87	$29.28	$28.89	$30.08
Tangible Book Value per Share	$30.17	$30.36	$31.83	$32.91	$34.07	$33.81	$32.87	$29.28	$28.89	$30.08
Total Capital	2,057	2,326	2,468	2,671	2,939	3,022	2,760	2,437	2,409	2,531
Total Debt	914	1,116	1,145	1,282	1,440	1,499	1,243	1,148	1,135	1,146
Total Long-Term Debt	914	1,116	1,145	1,282	1,440	1,499	1,243	1,148	1,135	1,146
Net Debt	828	1,111	1,142	1,277	1,435	1,456	1,205	1,128	1,113	1,122
Capital Expenditures (CapEx)	109	363	176	132	219	63	-192	-163	-19	132
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-20	-21	-16	-63	-26	-25	-23	-26	-34	-38
Debt-free Net Working Capital (DFNWC)	66	-16	-13	-58	-21	18	14	-6.61	-12	-13
Net Working Capital (NWC)	66	-16	-13	-58	-21	18	14	-6.61	-12	-13
Net Nonoperating Expense (NNE)	-23	-35	-7.87	0.74	0.82	-14	-29	-0.82	43	-6.66
Net Nonoperating Obligations (NNO)	828	3,596	1,142	1,320	1,435	1,456	1,205	1,085	1,108	1,122
Total Depreciation and Amortization (D&A)	57	62	73	76	81	88	85	82	77	81
Debt-free, Cash-free Net Working Capital to Revenue	-8.80%	-8.40%	-5.85%	-21.24%	-8.27%	-7.57%	-7.76%	-8.45%	-10.73%	-11.04%
Debt-free Net Working Capital to Revenue	28.78%	-6.54%	-4.75%	-19.66%	-6.63%	5.46%	4.76%	-2.16%	-3.74%	-3.94%
Net Working Capital to Revenue	28.78%	-6.54%	-4.75%	-19.66%	-6.63%	5.46%	4.76%	-2.16%	-3.74%	-3.94%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$3.96	$3.88	$3.90	$3.68	$3.70	$4.14	$2.45	$1.48	$3.13	$3.14
Adjusted Weighted Average Basic Shares Outstanding	37.60M	39.01M	40.89M	41.94M	43.42M	44.70M	45.71M	44.77M	43.39M	43.84M
Adjusted Diluted Earnings per Share	$3.95	$3.87	$3.87	$3.67	$3.67	$4.14	$2.44	$1.48	$3.13	$3.13
Adjusted Weighted Average Diluted Shares Outstanding	37.64M	39.16M	41.15M	42.09M	43.70M	44.70M	45.73M	44.79M	43.39M	44.10M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	38.40M	39.85M	41.53M	42.74M	44.59M	45.19M	45.85M	43.39M	43.41M	45.69M
Normalized Net Operating Profit after Tax (NOPAT)	89	119	106	109	113	121	58	45	124	91
Normalized NOPAT Margin	38.89%	47.74%	38.18%	36.92%	35.60%	36.24%	19.35%	14.77%	38.76%	26.61%
Pre Tax Income Margin	65.35%	61.77%	57.19%	52.39%	50.44%	56.62%	37.37%	21.41%	41.78%	39.85%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	72.98	210.12	195.96	49.02	60.19	435.72	3.29	0.00
NOPAT to Interest Expense	0.00	0.00	68.42	210.12	195.96	43.59	43.19	428.34	3.04	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	-6.42	31.59	-70.37	32.95	160.63	1,512.50	3.62	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	-10.98	31.59	-70.37	27.51	143.63	1,505.13	3.37	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	84.46%	91.59%	96.03%	107.17%	112.03%	105.41%	164.16%	248.37%	117.22%	115.39%
Augmented Payout Ratio	84.46%	91.59%	96.03%	107.17%	112.03%	105.41%	164.16%	480.46%	117.22%	116.07%

This table displays calculated financial ratios and metrics derived from National Health Investors' official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	3.34%	42.12%	15.51%	30.01%	4.99%	-19.74%	-1.06%	9.11%	3.54%	16.32%
EBITDA Growth	0.94%	-24.71%	92.09%	57.07%	20.37%	282.00%	-5.54%	-4.81%	-0.96%	-56.44%
EBIT Growth	8.99%	-67.02%	322.01%	153.45%	28.89%	2,535.01%	-10.80%	-7.71%	-2.13%	-78.28%
NOPAT Growth	68.95%	3,672.41%	540.48%	342.81%	122.92%	92.03%	-7.30%	13.53%	-0.23%	-85.63%
Net Income Growth	10.96%	-76.01%	314.54%	83.77%	-15.18%	1,933.21%	-10.32%	-11.40%	-2.72%	34.90%
EPS Growth	16.42%	-64.29%	338.89%	95.74%	-12.82%	1,380.00%	-10.13%	-11.96%	-4.41%	29.73%
Operating Cash Flow Growth	-11.13%	-13.12%	-19.73%	-11.05%	14.17%	14.77%	31.50%	20.28%	-2.16%	8.21%
Free Cash Flow Firm Growth	78.33%	47.04%	-56.42%	-87.69%	-93.72%	-86.28%	-64.14%	-2.31%	206.29%	-324.92%
Invested Capital Growth	-14.03%	-12.77%	-5.67%	-0.94%	0.74%	0.29%	-1.39%	-0.65%	-1.47%	5.26%
Revenue Q/Q Growth	27.38%	29.77%	16.58%	-5.48%	2.86%	-0.80%	2.58%	4.24%	-2.38%	11.44%
EBITDA Q/Q Growth	13.39%	-60.90%	165.81%	38.06%	-13.11%	24.07%	39.83%	39.11%	-9.59%	-45.43%
EBIT Q/Q Growth	61.51%	-93.37%	2,089.81%	57.14%	-17.86%	35.64%	81.85%	62.57%	-12.89%	-69.91%
NOPAT Q/Q Growth	102.64%	58.14%	1,331.70%	29.10%	2.01%	36.23%	92.98%	58.12%	-10.35%	-80.38%
Net Income Q/Q Growth	59.46%	-95.44%	2,091.22%	15.40%	-26.40%	9.25%	-3.35%	14.01%	-19.20%	51.50%
EPS Q/Q Growth	65.96%	-93.59%	1,480.00%	16.46%	-26.09%	8.82%	-4.05%	14.08%	-19.75%	47.69%
Operating Cash Flow Q/Q Growth	-23.31%	6.48%	-33.02%	62.64%	-1.57%	7.04%	-23.26%	48.77%	-19.94%	18.39%
Free Cash Flow Firm Q/Q Growth	-22.89%	-7.24%	-49.00%	-63.52%	-60.68%	102.76%	625.04%	-0.61%	23.28%	-248.89%
Invested Capital Q/Q Growth	-1.54%	-0.23%	2.07%	-1.22%	0.13%	-0.67%	0.37%	-0.48%	-0.70%	6.11%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	69.22%	20.86%	64.33%	93.95%	79.37%	99.26%	61.42%	81.97%	75.92%	37.18%
Operating Margin	25.39%	30.94%	39.79%	54.35%	53.90%	74.02%	37.28%	56.55%	51.94%	9.15%
EBIT Margin	44.86%	2.29%	41.49%	68.97%	55.08%	75.30%	37.41%	58.34%	52.06%	14.06%
Profit (Net Income) Margin	44.86%	1.58%	41.49%	50.65%	36.24%	39.91%	37.61%	41.13%	34.05%	46.29%
Tax Burden Percent	100.00%	78.08%	100.00%	100.00%	100.00%	102.45%	100.54%	100.68%	100.00%	100.00%
Interest Burden Percent	100.00%	87.98%	100.00%	73.44%	65.81%	51.74%	100.00%	70.03%	65.40%	329.27%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	2.73%	3.72%	4.61%	6.94%	7.02%	9.95%	4.94%	7.73%	7.18%	1.28%
ROIC Less NNEP Spread (ROIC-NNEP)	4.04%	1.18%	4.74%	6.67%	5.71%	7.48%	4.96%	6.55%	5.85%	4.36%
Return on Net Nonoperating Assets (RNNOA)	3.19%	0.96%	3.78%	5.20%	4.76%	6.40%	4.39%	5.69%	5.16%	3.65%
Return on Equity (ROE)	5.93%	4.69%	8.39%	12.14%	11.78%	16.35%	9.33%	13.41%	12.34%	4.93%
Cash Return on Invested Capital (CROIC)	16.44%	16.18%	8.40%	4.97%	4.31%	7.16%	6.24%	5.77%	6.62%	0.20%
Operating Return on Assets (OROA)	4.59%	0.26%	4.50%	8.33%	6.84%	9.64%	4.76%	7.65%	6.91%	1.88%
Return on Assets (ROA)	4.59%	0.18%	4.50%	6.12%	4.50%	5.11%	4.79%	5.39%	4.52%	6.20%
Return on Common Equity (ROCE)	5.86%	4.64%	8.30%	11.95%	11.59%	16.10%	9.18%	13.20%	12.15%	4.86%
Return on Equity Simple (ROE_SIMPLE)	5.39%	0.00%	7.21%	8.62%	8.27%	0.00%	10.49%	10.15%	10.22%	0.00%
Net Operating Profit after Tax (NOPAT)	19	31	33	42	43	59	30	48	43	8.45
NOPAT Margin	25.39%	30.94%	39.79%	54.35%	53.90%	74.02%	37.28%	56.55%	51.94%	9.15%
Net Nonoperating Expense Percent (NNEP)	-1.31%	2.54%	-0.13%	0.27%	1.30%	2.47%	-0.02%	1.18%	1.33%	-3.08%
Return On Investment Capital (ROIC_SIMPLE)	-	1.26%	-	-	-	2.45%	-	-	-	0.34%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	6.22%	4.92%	6.86%	5.53%	5.53%	6.20%	6.92%	5.73%	5.80%	5.86%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	74.61%	69.06%	60.21%	45.65%	46.10%	25.98%	62.72%	43.45%	48.06%	90.85%
Earnings before Interest and Taxes (EBIT)	34	2.27	34	54	44	60	30	50	43	13
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	53	21	53	73	64	79	50	70	63	34
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.72	1.58	1.63	1.69	1.68	1.84	0.00	2.36	2.97	2.30
Price to Tangible Book Value (P/TBV)	1.72	1.58	1.63	1.69	1.68	1.84	0.00	2.36	2.97	2.30
Price to Revenue (P/Rev)	8.12	6.55	7.15	6.96	6.79	7.20	0.00	9.02	11.10	9.21
Price to Earnings (P/E)	31.71	30.24	22.36	19.33	20.01	16.97	0.00	23.05	28.80	22.83
Dividend Yield	7.14%	7.78%	7.55%	7.31%	7.40%	6.79%	5.81%	5.32%	4.28%	5.19%
Earnings Yield	3.15%	3.31%	4.47%	5.17%	5.00%	5.89%	0.00%	4.34%	3.47%	4.38%
Enterprise Value to Invested Capital (EV/IC)	1.41	1.33	1.34	1.37	1.36	1.44	0.00	1.72	2.03	1.71
Enterprise Value to Revenue (EV/Rev)	12.12	10.29	11.24	10.67	10.48	10.74	0.00	12.52	14.57	12.54
Enterprise Value to EBITDA (EV/EBITDA)	21.75	21.37	18.87	16.47	15.54	12.78	0.00	20.01	23.56	19.76
Enterprise Value to EBIT (EV/EBIT)	47.70	47.96	35.66	26.49	24.40	17.90	0.00	32.43	38.35	31.48
Enterprise Value to NOPAT (EV/NOPAT)	96.34	48.79	50.80	33.86	27.03	19.39	0.00	33.38	39.21	32.99
Enterprise Value to Operating Cash Flow (EV/OCF)	17.46	17.03	18.30	19.12	18.35	18.62	0.00	19.96	23.55	20.64
Enterprise Value to Free Cash Flow (EV/FCFF)	7.93	7.65	15.51	27.41	31.65	20.18	0.00	29.61	30.42	894.49
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.84	0.89	0.91	0.88	0.89	0.89	0.90	0.90	0.91	0.83
Long-Term Debt to Equity	0.84	0.89	0.91	0.88	0.89	0.89	0.90	0.90	0.91	0.83
Financial Leverage	0.79	0.82	0.80	0.78	0.83	0.86	0.88	0.87	0.88	0.84
Leverage Ratio	1.89	1.90	1.92	1.88	1.92	1.95	1.96	1.95	1.96	1.92
Compound Leverage Factor	1.89	1.68	1.92	1.38	1.26	1.01	1.96	1.36	1.28	6.32
Debt to Total Capital	45.67%	47.08%	47.72%	46.79%	47.19%	47.12%	47.33%	47.34%	47.67%	45.28%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	45.67%	47.08%	47.72%	46.79%	47.19%	47.12%	47.33%	47.34%	47.67%	45.28%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.83%	0.81%	0.86%	0.88%	0.85%	0.83%	0.81%	0.79%	0.77%	0.74%
Common Equity to Total Capital	53.49%	52.11%	51.43%	52.32%	51.96%	52.05%	51.85%	51.86%	51.56%	53.98%
Debt to EBITDA	7.22	7.77	6.82	5.70	5.46	4.23	5.49	5.57	5.59	5.28
Net Debt to EBITDA	7.03	7.64	6.74	5.62	5.38	4.14	5.43	5.50	5.51	5.17
Long-Term Debt to EBITDA	7.22	7.77	6.82	5.70	5.46	4.23	5.49	5.57	5.59	5.28
Debt to NOPAT	31.99	17.74	18.37	11.73	9.49	6.41	9.77	9.29	9.30	8.82
Net Debt to NOPAT	31.16	17.44	18.16	11.55	9.35	6.28	9.68	9.17	9.17	8.63
Long-Term Debt to NOPAT	31.99	17.74	18.37	11.73	9.49	6.41	9.77	9.29	9.30	8.82
Altman Z-Score	1.34	0.93	0.97	1.06	1.02	1.14	0.00	1.44	1.78	1.48
Noncontrolling Interest Sharing Ratio	1.07%	1.05%	1.10%	1.58%	1.59%	1.55%	1.59%	1.58%	1.55%	1.46%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	4.82	0.74	0.56	0.60	0.57	0.65	0.42	0.44	0.48	0.64
Quick Ratio	4.82	0.74	0.56	0.60	0.57	0.65	0.42	0.44	0.48	0.64
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	408	378	178	65	26	52	64	64	78	-117
Operating Cash Flow to CapEx	0.00%	3,117.48%	111.36%	0.00%	0.00%	0.00%	0.00%	1,166.26%	0.00%	45.43%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	4.56	1.70	0.00	0.00	4.28	5.25	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	3.54	3.29	0.00	0.00	4.09	3.26	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	6.23	3.49	0.00	0.00	3.74	3.26	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.10	0.11	0.11	0.12	0.12	0.13	0.13	0.13	0.13	0.13
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.12	0.14	0.13	0.14	0.15	0.15	0.15	0.15	0.16	0.16
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,380	2,375	2,424	2,395	2,398	2,382	2,390	2,379	2,362	2,507
Invested Capital Turnover	0.11	0.12	0.12	0.13	0.13	0.13	0.13	0.14	0.14	0.14
Increase / (Decrease) in Invested Capital	-388	-348	-146	-23	18	6.92	-34	-16	-35	125
Enterprise Value (EV)	3,358	3,156	3,251	3,277	3,259	3,434	0.00	4,081	4,791	4,288
Market Capitalization	2,252	2,008	2,068	2,138	2,111	2,301	0.00	2,941	3,652	3,148
Book Value per Share	$29.24	$29.28	$29.21	$29.25	$29.03	$28.89	$28.76	$28.66	$28.29	$30.08
Tangible Book Value per Share	$29.24	$29.28	$29.21	$29.25	$29.03	$28.89	$28.76	$28.66	$28.29	$30.08
Total Capital	2,442	2,437	2,465	2,425	2,425	2,409	2,407	2,400	2,384	2,531
Total Debt	1,115	1,148	1,176	1,135	1,144	1,135	1,139	1,136	1,136	1,146
Total Long-Term Debt	1,115	1,148	1,176	1,135	1,144	1,135	1,139	1,136	1,136	1,146
Net Debt	1,086	1,128	1,162	1,117	1,128	1,113	1,128	1,121	1,121	1,122
Capital Expenditures (CapEx)	-60	1.49	28	-38	-2.92	-5.49	0.00	5.21	0.00	127
Debt-free, Cash-free Net Working Capital (DFCFNWC)	59	-26	-25	-29	-29	-34	-27	-33	-33	-38
Debt-free Net Working Capital (DFNWC)	88	-6.61	-11	-12	-13	-12	-15	-18	-17	-13
Net Working Capital (NWC)	88	-6.61	-11	-12	-13	-12	-15	-18	-17	-13
Net Nonoperating Expense (NNE)	-15	29	-1.40	2.88	14	27	-0.27	13	15	-34
Net Nonoperating Obligations (NNO)	1,054	1,085	1,135	1,104	1,117	1,108	1,123	1,116	1,115	1,122
Total Depreciation and Amortization (D&A)	19	18	19	19	19	19	20	20	20	21
Debt-free, Cash-free Net Working Capital to Revenue	21.27%	-8.45%	-8.51%	-9.42%	-9.43%	-10.73%	-8.40%	-10.18%	-9.88%	-11.04%
Debt-free Net Working Capital to Revenue	31.67%	-2.16%	-3.72%	-3.76%	-4.10%	-3.74%	-4.84%	-5.65%	-5.16%	-3.94%
Net Working Capital to Revenue	31.67%	-2.16%	-3.72%	-3.76%	-4.10%	-3.74%	-4.84%	-5.65%	-5.16%	-3.94%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.78	$0.05	$0.79	$0.92	$0.68	$0.74	$0.71	$0.81	$0.66	$0.96
Adjusted Weighted Average Basic Shares Outstanding	44.34M	44.77M	43.39M	43.39M	43.39M	43.39M	43.39M	43.40M	43.48M	43.84M
Adjusted Diluted Earnings per Share	$0.78	$0.05	$0.79	$0.92	$0.68	$0.74	$0.71	$0.81	$0.65	$0.96
Adjusted Weighted Average Diluted Shares Outstanding	44.40M	44.79M	43.39M	43.39M	43.39M	43.39M	43.42M	43.56M	43.99M	44.10M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	43.39M	43.39M	43.39M	43.41M	43.41M	43.41M	43.42M	43.44M	45.42M	45.69M
Normalized Net Operating Profit after Tax (NOPAT)	14	21	23	30	30	41	21	34	30	5.92
Normalized NOPAT Margin	17.77%	21.66%	27.86%	38.05%	37.73%	51.82%	26.10%	39.59%	36.36%	6.40%
Pre Tax Income Margin	44.86%	2.02%	41.49%	50.65%	36.24%	38.96%	37.41%	40.86%	34.05%	46.29%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	3.76	2.92	0.00	0.00	3.34	2.89	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	2.97	2.86	0.00	0.00	3.24	2.88	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	6.46	3.12	0.00	0.00	2.99	2.89	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	5.66	3.06	0.00	0.00	2.88	2.88	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	234.18%	248.37%	175.60%	144.74%	151.01%	117.22%	120.30%	124.62%	125.36%	115.39%
Augmented Payout Ratio	449.91%	480.46%	175.60%	144.74%	151.05%	117.22%	120.30%	124.62%	125.98%	116.07%

Frequently Asked Questions About National Health Investors' Financials

When does National Health Investors's financial year end?

According to the most recent income statement we have on file, National Health Investors' fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has National Health Investors' net income changed over the last 9 years?

National Health Investors' net income appears to be on a downward trend, with a most recent value of $136.64 million in 2024, falling from $150.31 million in 2015. The previous period was $134.38 million in 2023.

What is National Health Investors's operating income?

National Health Investors's total operating income in 2024 was $129.98 million, based on the following breakdown:

Total Gross Profit: $341.86 million
Total Operating Expenses: $211.88 million

How has National Health Investors revenue changed over the last 9 years?

Over the last 9 years, National Health Investors' total revenue changed from $228.95 million in 2015 to $341.86 million in 2024, a change of 49.3%.

How much debt does National Health Investors have?

National Health Investors' total liabilities were at $1.23 billion at the end of 2024, a 1.2% increase from 2023, and a 24.1% increase since 2015.

How much cash does National Health Investors have?

In the past 9 years, National Health Investors' cash and equivalents has ranged from $3.06 million in 2017 to $43.34 million in 2020, and is currently $24.29 million as of their latest financial filing in 2024.

How has National Health Investors' book value per share changed over the last 9 years?

Over the last 9 years, National Health Investors' book value per share changed from 30.17 in 2015 to 30.08 in 2024, a change of -0.3%.

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This page (NYSE:NHI) was last updated on 4/15/2025 by MarketBeat.com Staff

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National Health Investors (NHI) Financials

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National Health Investors (NHI) Financials

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