NYSEAMERICAN : NHC
National HealthCare Corporation — Financial statements
Healthcare · Medical Care Facilities · United States
Last price 210.375 USD (Oct 30, 2026, 10:10 AM EDT) · Market cap 3.29B
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Financial statements
National HealthCare Corporation (NHC) reported revenue of 1.56B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 1.49B | 1.47B | 1.25B | 1.09B | 1.03B | 965.54M |
| Other Revenue | 66.18M | 48.15M | 46.18M | 47.70M | 45.20M | 45.40M |
| Revenue | 1.56B | 1.52B | 1.30B | 1.14B | 1.07B | 1.01B |
| Cost of Revenue | 943.39M | 921.08M | 810.93M | 712.34M | 686.17M | 666.06M |
| Gross Profit | 615.63M | 596.70M | 487.01M | 422.97M | 388.11M | 344.88M |
| Selling, General & Admin | 46.72M | 46.23M | 43.18M | 41.52M | 40.98M | 40.82M |
| Other Operating Expenses | 378.51M | 377.20M | 321.39M | 288.18M | 289.37M | 266.75M |
| Operating Expenses | 470.94M | 468.35M | 406.56M | 371.74M | 370.84M | 348.24M |
| Operating Income | 144.68M | 128.35M | 80.45M | 51.23M | 17.27M | -3.37M |
| Interest Expense | -2.55M | -6.37M | -4.13M | -324.00K | -563.00K | -845.00K |
| Interest & Investment Income | 17.35M | 17.89M | 18.08M | 14.64M | 10.66M | 11.62M |
| Earnings From Equity Investments | -521.00K | 218.00K | 589.00K | 2.02M | 477.00K | 5.11M |
| EBT Excluding Unusual Items | 158.95M | 140.09M | 94.98M | 67.56M | 27.85M | 12.52M |
| Gain (Loss) on Sale of Investments | 26.41M | 22.34M | 31.98M | 14.94M | -15.81M | 82.38M |
| Gain (Loss) on Sale of Assets | 6.23M | |||||
| Asset Writedown | -8.22M | |||||
| Other Unusual Items | 9.45M | 15.19M | 63.36M | |||
| Pretax Income | 185.37M | 162.43M | 136.41M | 88.74M | 27.23M | 150.04M |
| Income Tax Expense | 42.52M | 39.83M | 34.32M | 23.45M | 7.25M | 10.95M |
| Earnings From Continuing Operations | 142.84M | 122.61M | 102.09M | 65.29M | 19.98M | 139.09M |
| Minority Interest in Earnings | -2.58M | -2.59M | -159.00K | 1.51M | 2.47M | -497.00K |
| Net Income | 140.26M | 120.02M | 101.93M | 66.80M | 22.45M | 138.59M |
| Net Income to Common | 140.26M | 120.02M | 101.93M | 66.80M | 22.45M | 138.59M |
| Shares Outstanding (Basic) | 15.54M | 15.47M | 15.39M | 15.31M | 15.41M | 15.35M |
| Shares Outstanding (Diluted) | 15.76M | 15.65M | 15.60M | 15.38M | 15.45M | 15.42M |
| EPS (Basic) | 9.03 | 7.76 | 6.62 | 4.36 | 1.46 | 9.03 |
| EPS (Diluted) | 8.90 | 7.67 | 6.53 | 4.34 | 1.45 | 8.99 |
| Free Cash Flow | 146.53M | 148.63M | 79.70M | 83.31M | -21.46M | 23.00M |
| Free Cash Flow Per Share | 9.30 | 9.50 | 5.11 | 5.42 | -1.39 | 1.49 |
| Dividend Per Share | 2.59 | 2.53 | 2.42 | 2.34 | 2.26 | 2.11 |
| Gross Margin | 39.49% | 39.31% | 37.52% | 37.26% | 36.13% | 34.12% |
| Operating Margin | 9.28% | 8.46% | 6.20% | 4.51% | 1.61% | -0.33% |
| Profit Margin | 9.00% | 7.91% | 7.85% | 5.88% | 2.09% | 13.71% |
| Free Cash Flow Margin | 9.40% | 9.79% | 6.14% | 7.34% | -2.00% | 2.27% |
| EBITDA | 190.40M | 173.27M | 122.44M | 93.26M | 57.76M | 37.31M |
| EBITDA Margin | 12.21% | 11.42% | 9.43% | 8.21% | 5.38% | 3.69% |
| D&A For EBITDA | 45.71M | 44.92M | 41.98M | 42.03M | 40.49M | 40.67M |
| EBIT | 144.68M | 128.35M | 80.45M | 51.23M | 17.27M | -3.37M |
| EBIT Margin | 9.28% | 8.46% | 6.20% | 4.51% | 1.61% | -0.33% |
| Effective Tax Rate | 22.94% | 24.52% | 25.16% | 26.43% | 26.64% | 7.30% |
| Revenue as Reported | 1.56B | 1.52B | 1.31B | 1.14B | 1.09B | 1.07B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 39.21M | 92.83M | 76.12M | 107.08M | 58.67M | 107.61M |
| Short-Term Investments | 170.98M | 162.97M | 140.06M | 116.54M | 123.92M | 148.42M |
| Cash & Short-Term Investments | 210.19M | 255.80M | 216.19M | 223.62M | 182.59M | 256.02M |
| Accounts Receivable | 137.70M | 139.00M | 135.32M | 108.55M | 99.99M | 96.12M |
| Receivables | 137.70M | 139.00M | 135.32M | 109.05M | 100.29M | 96.58M |
| Inventory | 8.54M | 7.79M | 9.04M | 7.39M | 7.09M | 8.58M |
| Prepaid Expenses | 27.49M | 5.84M | 9.57M | 8.86M | 10.24M | 7.36M |
| Restricted Cash | 11.86M | 18.12M | 19.57M | 17.73M | 15.12M | 10.41M |
| Other Current Assets | 43.83M | 35.26M | 34.72M | 39.60M | 38.60M | 47.69M |
| Total Current Assets | 439.60M | 461.82M | 424.41M | 406.24M | 353.93M | 426.64M |
| Property, Plant & Equipment | 758.42M | 721.58M | 763.46M | 587.53M | 627.05M | 677.11M |
| Long-Term Investments | 44.78M | 38.73M | 27.88M | 16.27M | 2.06M | 2.02M |
| Goodwill | 170.48M | 170.48M | 170.48M | 168.29M | 168.29M | 168.29M |
| Other Intangible Assets | 20.36M | 19.86M | 19.86M | 7.04M | 7.04M | 7.04M |
| Other Long-Term Assets | 103.29M | 113.95M | 118.34M | 125.43M | 117.07M | 122.29M |
| Total Assets | 1.54B | 1.53B | 1.52B | 1.31B | 1.28B | 1.40B |
| Accounts Payable | 21.74M | 22.77M | 25.49M | 19.19M | 16.96M | 22.49M |
| Accrued Expenses | 103.62M | 103.92M | 92.72M | 84.11M | 72.51M | 106.70M |
| Current Portion of Long-Term Debt | 7.50M | 7.50M | ||||
| Current Portion of Leases | 18.29M | 33.61M | 31.84M | 30.21M | 34.06M | 32.27M |
| Current Unearned Revenue | 24.46M | |||||
| Other Current Liabilities | 92.46M | 85.84M | 77.24M | 80.96M | 74.36M | 77.28M |
| Total Current Liabilities | 236.11M | 253.63M | 234.80M | 214.48M | 197.89M | 263.20M |
| Long-Term Debt | 32.50M | 129.50M | ||||
| Long-Term Leases | 13.12M | 13.46M | 45.92M | 63.17M | 91.88M | 134.39M |
| Long-Term Unearned Revenue | 1.48M | 1.48M | 1.47M | 1.61M | 2.22M | 2.34M |
| Long-Term Deferred Tax Liabilities | 45.29M | 42.69M | 35.55M | 17.20M | 10.91M | 6.85M |
| Other Long-Term Liabilities | 112.87M | 108.14M | 94.02M | 103.86M | 95.05M | 88.16M |
| Total Liabilities | 408.87M | 451.90M | 541.27M | 400.32M | 397.94M | 494.94M |
| Common Stock | 156.00K | 155.00K | 154.00K | 153.00K | 153.00K | 154.00K |
| Additional Paid-In Capital | 235.57M | 236.41M | 232.53M | 227.60M | 226.99M | 232.17M |
| Retained Earnings | 888.68M | 832.98M | 752.19M | 687.60M | 656.66M | 669.08M |
| Comprehensive Income & Other | -2.11M | -779.00K | -4.72M | -6.60M | -9.53M | 1.60M |
| Total Common Equity | 1.12B | 1.07B | 980.16M | 908.75M | 874.28M | 903.00M |
| Minority Interest | 5.75M | 5.74M | 3.00M | 1.73M | 3.24M | 5.46M |
| Shareholders' Equity | 1.13B | 1.07B | 983.16M | 910.48M | 877.51M | 908.46M |
| Total Liabilities & Equity | 1.54B | 1.53B | 1.52B | 1.31B | 1.28B | 1.40B |
| Total Debt | 31.41M | 87.07M | 214.77M | 93.39M | 125.94M | 166.66M |
| Net Cash (Debt) | 178.78M | 168.73M | 1.42M | 130.23M | 56.65M | 89.37M |
| Net Cash Per Share | 11.34 | 10.78 | 0.09 | 8.47 | 3.67 | 5.80 |
| Filing Date Shares Outstanding | 15.66M | 15.54M | 15.45M | 15.35M | 15.36M | 15.45M |
| Total Common Shares Outstanding | 15.66M | 15.54M | 15.45M | 15.35M | 15.36M | 15.45M |
| Working Capital | 203.49M | 208.19M | 189.61M | 191.76M | 156.04M | 163.44M |
| Book Value Per Share | 71.66 | 68.79 | 63.44 | 59.20 | 56.93 | 58.44 |
| Tangible Book Value | 931.46M | 878.43M | 789.82M | 733.42M | 698.94M | 727.67M |
| Tangible Book Value Per Share | 59.47 | 56.54 | 51.12 | 47.78 | 45.51 | 47.09 |
| Land | 98.39M | 99.81M | 65.58M | 67.17M | 66.27M | |
| Buildings | 849.93M | 835.85M | 700.04M | 649.42M | 615.64M | |
| Machinery | 207.15M | 200.87M | 195.16M | 187.74M | 185.32M | |
| Construction In Progress | 14.79M | 12.15M | 11.10M | 12.74M | 35.70M | |
| Leasehold Improvements | 138.64M | 133.05M | 129.80M | 125.14M | 122.39M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 140.26M | 120.02M | 101.93M | 66.80M | 22.45M | 138.59M |
| Depreciation & Amortization | 45.71M | 44.92M | 41.98M | 42.03M | 40.49M | 40.67M |
| Loss (Gain) From Sale of Assets | -3.61M | -6.23M | ||||
| Asset Writedown & Restructuring Costs | -3.73M | 8.22M | ||||
| Loss (Gain) From Sale of Investments | -27.25M | -23.51M | -33.08M | -14.28M | 17.13M | -82.38M |
| Loss (Gain) on Equity Investments | 1.33M | 398.00K | -77.00K | -1.54M | -38.00K | 1.20M |
| Stock-Based Compensation | 5.41M | 4.40M | 4.16M | 2.78M | 2.61M | 2.62M |
| Other Operating Activities | 13.30M | 9.07M | 18.10M | 4.26M | 3.53M | -5.80M |
| Change in Accounts Receivable | 10.62M | -3.68M | -26.44M | -8.56M | -3.86M | 4.09M |
| Change in Inventory | -306.00K | 1.24M | -599.00K | -298.00K | 1.49M | 199.00K |
| Change in Accounts Payable | -1.27M | -2.73M | 6.30M | 2.24M | -5.53M | -2.08M |
| Change in Unearned Revenue | -24.46M | -42.86M | ||||
| Change in Other Net Operating Assets | 991.00K | 38.55M | -4.98M | 24.02M | -41.33M | -88.00K |
| Operating Cash Flow | 188.81M | 185.08M | 107.30M | 111.22M | 8.74M | 62.39M |
| Capital Expenditures | -42.27M | -36.45M | -27.60M | -27.90M | -30.20M | -39.40M |
| Sale of Property, Plant & Equipment | 2.10M | 4.17M | ||||
| Cash Acquisitions | -54.70M | -213.80M | -2.70M | |||
| Investment in Securities | 4.41M | 2.08M | 2.62M | 13.23M | 16.17M | -35.33M |
| Other Investing Activities | -19.95M | 512.00K | -9.00K | -201.00K | 3.88M | 8.84M |
| Investing Cash Flow | -112.51M | -33.86M | -236.69M | -17.57M | -5.98M | -65.89M |
| Long-Term Debt Issued | 150.00M | |||||
| Long-Term Debt Repaid | -97.00M | -13.86M | -4.99M | -4.70M | -4.42M | |
| Net Debt Issued (Repaid) | -110.00M | -97.00M | 136.14M | -4.99M | -4.70M | -4.42M |
| Issuance of Common Stock | 27.21M | 14.21M | 14.27M | 313.00K | 2.11M | 3.44M |
| Repurchase of Common Stock | -31.91M | -14.73M | -13.50M | -2.48M | -9.90M | -836.00K |
| Common Dividends Paid | -39.78M | -38.70M | -36.96M | -35.56M | -34.60M | -32.03M |
| Dividends Paid | -39.78M | -38.70M | -36.96M | -35.56M | -34.60M | -32.03M |
| Other Financing Activities | 99.00K | 265.00K | 402.00K | 169.00K | -554.00K | -1.42M |
| Financing Cash Flow | -154.38M | -135.96M | 100.34M | -42.55M | -47.64M | -35.26M |
| Net Cash Flow | -78.08M | 15.27M | -29.05M | 51.10M | -44.88M | -38.76M |
| Free Cash Flow | 146.53M | 148.63M | 79.70M | 83.31M | -21.46M | 23.00M |
| Free Cash Flow Margin | 9.40% | 9.79% | 6.14% | 7.34% | -2.00% | 2.27% |
| Free Cash Flow Per Share | 9.30 | 9.50 | 5.11 | 5.42 | -1.39 | 1.49 |
| Levered Free Cash Flow | 63.17M | 108.38M | 51.83M | 57.90M | -44.49M | -56.46M |
| Unlevered Free Cash Flow | 64.77M | 112.36M | 54.41M | 58.10M | -44.14M | -55.94M |
| Cash Interest Paid | 7.03M | 7.03M | 3.42M | 290.00K | 493.00K | 845.00K |
| Cash Income Tax Paid | 24.72M | 24.72M | 17.52M | 14.57M | 8.77M | 22.88M |
| Change in Working Capital | 10.04M | 33.40M | -25.72M | 17.40M | -73.70M | -40.74M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 3.23B | 2.13B | 1.66B | 1.42B | 912.97M | 1.05B |
| Enterprise Value | 3.05B | 1.96B | 1.65B | 1.31B | 873.81M | 973.35M |
| Last Close Price | 206.14 | 135.70 | 104.11 | 87.45 | 54.37 | 60.03 |
| PE Ratio | 23.16 | 17.72 | 16.29 | 21.20 | 40.68 | 7.56 |
| Forward PE | 17.52 | 17.52 | 17.52 | 17.52 | 17.52 | |
| PS Ratio | 2.07 | 1.40 | 1.28 | 1.25 | 0.85 | 1.04 |
| PB Ratio | 2.88 | 1.98 | 1.69 | 1.56 | 1.04 | 1.15 |
| P/TBV Ratio | 3.47 | 2.42 | 2.10 | 1.93 | 1.31 | 1.44 |
| P/FCF Ratio | 22.03 | 14.31 | 20.84 | 17.00 | 45.57 | |
| P/OCF Ratio | 17.10 | 11.49 | 15.48 | 12.73 | 104.44 | 16.79 |
| EV/Sales Ratio | 1.96 | 1.29 | 1.27 | 1.15 | 0.81 | 0.96 |
| EV/EBITDA Ratio | 16.02 | 11.33 | 13.44 | 14.04 | 15.13 | 26.09 |
| EV/EBIT Ratio | 21.08 | 15.29 | 20.46 | 25.56 | 50.59 | |
| EV/FCF Ratio | 20.81 | 13.21 | 20.65 | 15.72 | 42.33 | |
| Debt / Equity Ratio | 0.03 | 0.08 | 0.22 | 0.10 | 0.14 | 0.18 |
| Debt / EBITDA Ratio | 0.13 | 0.40 | 1.30 | 0.69 | 1.28 | 2.13 |
| Debt / FCF Ratio | 0.21 | 0.59 | 2.69 | 1.12 | 7.25 | |
| Net Debt / Equity Ratio | -0.16 | -0.16 | -0.00 | -0.14 | -0.07 | -0.10 |
| Net Debt / EBITDA Ratio | -0.94 | -0.97 | -0.01 | -1.40 | -0.98 | -2.40 |
| Net Debt / FCF Ratio | -1.22 | -1.14 | -0.02 | -1.56 | 2.64 | -3.89 |
| Asset Turnover | 1.01 | 0.99 | 0.92 | 0.88 | 0.80 | 0.73 |
| Inventory Turnover | 114.85 | 109.43 | 98.74 | 98.43 | 87.58 | 76.72 |
| Quick Ratio | 1.47 | 1.56 | 1.50 | 1.55 | 1.43 | 1.34 |
| Current Ratio | 1.86 | 1.82 | 1.81 | 1.89 | 1.79 | 1.62 |
| Return on Equity (ROE) | 13.27% | 11.92% | 10.78% | 7.30% | 2.24% | 16.30% |
| Return on Assets (ROA) | 5.84% | 5.26% | 3.55% | 2.48% | 0.81% | -0.15% |
| Return on Invested Capital (ROIC) | 12.21% | 10.27% | 6.83% | 4.71% | 1.54% | -0.42% |
| Return on Capital Employed (ROCE) | 11.10% | 10.10% | 6.20% | 4.70% | 1.60% | -0.30% |
| Earnings Yield | 4.32% | 5.64% | 6.14% | 4.72% | 2.46% | 13.23% |
| FCF Yield | 4.54% | 6.99% | 4.80% | 5.88% | -2.35% | 2.19% |
| Dividend Yield | 1.30% | 1.85% | 2.25% | 2.54% | 3.80% | 3.11% |
| Payout Ratio | 30.11% | 32.25% | 36.27% | 53.23% | 154.17% | 23.11% |
| Buyback Yield / Dilution | -0.86% | -0.31% | -1.44% | 0.45% | -0.20% | -0.31% |
| Total Shareholder Return | 0.44% | 1.54% | 0.81% | 2.99% | 3.60% | 2.80% |