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National HealthCare Corporation

NHC Healthcare Medical Care Facilities

National HealthCare Corporation’s revenue for fiscal 2025 (year ended December 2025) was $1.5 billion, up 16.1% from fiscal 2024.

Revenue
+6.61%
EPS
−65.6%
Free cash flow
+75.5%
Total debt
+216.7%

Quarter to September 2026, against a year earlier

207.47 4.93 −2.32%
Market cap
$3.3B
P/E
28.2×
Fwd P/E
8.4×
Dividend yield
1.26%
F-score
7/9
Altman Z
5.02
Beneish M
−2.57
Dividend safety
74/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 0.17
Sold, $m 8.65
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — 1 — — — — —
Sell 1 — — — — 2 2 — 3 2 — —
Insider Ownership 18.66%

Capital & Financial Ratios $m

Size
Market Cap 3,250.00
Revenue ttm 1,584.33
Net income ttm 116.02
Free cash flow ttm 221.76
Net debt Q 23.75
Valuation
P/E 28.19
Forward P/E 8.40
Price / sales 2.05
Forward P/S Powerpack
Price / FCF 18.08
Price / book 2.87
Financial health
Current ratio Q 1.48
Debt / equity Q 0.02 (at or below 0.5: strong)
Interest coverage Q 0.00
Growth
Revenue growth Q +6.61% (above 0%: growing)
Operating income growth Q +43.55% (above 0%: growing)
EPS, this year —
EPS, next year A —
Revenue, next year A +41.32% (at or above 10%: strong)
EPS, past 5 yrs +23.04% (at or above 15%: strong)
EPS, next 5 yrs A —

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.9×, against a ten-year median of 0.9×; over the ten years it ranged from 0.6× in 2023 to 2.1× in 2026.
P/E against its own 10 years 81.74%
10-year low 10-year high
P/S against its own 10 years 96.59%
10-year low 10-year high
P/B against its own 10 years 96.70%
10-year low 10-year high
EV/Sales against its own 10 years 96.74%
10-year low 10-year high
EV/FCF against its own 10 years 58.64%
10-year low 10-year high

Dividends

Yield
1.26%
Annual rate
2.62
Payout ratio
36.2%
Growth, 2017–25
+3.71%/yr
  1. 1.89 ’17
  2. 1.98 ’18 +5
  3. 2.06 ’19 +4
  4. 2.08 ’20 +1
  5. 2.11 ’21 +1
  6. 2.26 ’22 +7
  7. 2.91 ’23 +29
  8. 2.42 ’24 −17
  9. 2.53 ’25 +5
  10. 0.40 ’26e −84
paid forecast change on the year, %

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 281 270 309 —
Receivables 109 135 139 130
Inventory 7 9 8 9
Other — — — —
406 424 462 420
2023 2024 2025 Q'26
Payables 19 25 23 22
ST’ Debt — 8 8 24
Other 23 21 26 51
214 235 254 284

Compound Annual Growth %

10y 5y 3y
Sales 5.29% 8.10% 11.81%
Cash Flow 8.30% (1.86%) 176.64%
Earnings 9.99% 23.44% 74.87%
Book Value 5.47% 6.12% 6.98%

EPS $

Mar Jun Sep Dec Year
’26 2.27 2.54 0.85 — —
’25 2.07 1.52 2.50 1.58 7.67
’24 1.69 1.73 2.73 0.39 6.53
’23 0.76 1.06 0.68 1.83 4.34
’22 0.99 0.21 (0.16) 0.41 1.45
’21 1.38 6.80 (0.22) 1.02 8.99
’20 (1.76) 1.84 0.84 1.79 2.72
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 382 408 408 — —
’25 374 375 383 387 1,518
’24 297 301 340 369 1,307
’23 270 283 288 301 1,142
’22 279 271 271 265 1,086
’21 251 263 277 283 1,074
’20 256 262 251 260 1,028
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 63 43 99 — —
’25 39 63 66 17 185
’24 10 51 34 13 107
’23 14 39 32 26 111
’22 (27) 26 (2) 12 9
’21 13 28 7 16 62
’20 8 147 29 19 203
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 53 31 99 — —
’25 33 53 56 6 149
’24 4 43 29 7 82
’23 7 33 26 17 83
’22 (36) 21 (8) 6 (17)
’21 8 19 (6) 2 23
’20 1 134 31 15 181
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 924 964 980 996 1,028 1,074 1,086 1,142 1,307 1,518 1,584 +5.7% 2,145 — — +41.3%
Gross margin, % 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 0.0 pt
EBT 80 75 75 88 52 150 27 89 136 162 151 +8.2%
EBT margin, % 8.68 7.73 7.64 8.83 5.10 13.97 2.51 7.77 10.43 10.70 9.51 +2.0 pt
Net income 51 56 59 68 42 139 20 65 102 123 116 +10.3%
Per share, $
Per share, $ Revenue 61.02 63.46 64.39 65.25 67.18 70.00 70.46 74.56 84.93 98.10 101.31 +5.4%
Earnings 3.34 3.70 3.87 4.47 2.74 9.03 1.46 4.36 6.62 7.76 7.36 +9.8%
Cash flow 6.00 6.22 6.47 6.56 13.28 4.07 0.57 7.26 6.97 11.96 14.18 +8.0%
Capex (4.14) (2.13) (1.96) (1.73) (1.43) (2.57) (1.69) (1.82) (1.66) (2.36) 0.00 (6.1%)
Free cash flow 1.87 4.09 4.51 4.83 11.85 1.50 (1.12) 5.44 5.31 9.61 14.18 +20.0%
Book value 44.24 46.31 48.24 51.02 52.15 59.19 56.94 59.47 63.87 69.45 72.33 +5.1%
Shares, m 15 15 15 15 15 15 15 15 15 15 16 +0.2%
Valuation, ×
Valuation, × P/E 22.52 16.74 20.22 19.38 24.33 7.52 41.15 21.39 16.25 17.69 28.19 20.7
P/S 1.24 0.98 1.22 1.32 0.99 0.97 0.85 1.25 1.27 1.40 2.05 1.1
P/B 1.71 1.34 1.63 1.69 1.27 1.15 1.05 1.57 1.68 1.97 2.87 1.5
EV/Sales 1.06 0.77 1.03 1.12 0.68 0.71 0.66 1.09 1.16 1.24 1.94 1.0
EV/FCF 34.70 11.94 14.64 15.09 3.87 33.33 (41.55) 14.97 18.61 12.68 17.09 11.8
Cash, $m
Cash, $m Operating cash flow 91 94 98 100 203 62 9 111 107 185 222 +8.2%
Capex (63) (32) (30) (26) (22) (39) (26) (28) (25) (36) (42) (5.8%)
Free cash flow 28 62 69 74 181 23 (17) 83 82 149 222 +20.2%
Balance, $m
Balance, $m Working capital 140 174 164 146 176 163 156 192 190 208 136 +4.5%
Net debt (160) (199) (189) (207) (314) (276) (201) (281) (133) (302) 24 +7.3%
Shareholders’ equity 670 703 734 779 798 908 878 910 983 1,075 1,131 +5.4%
Returns, %
Returns, % ROA 4.74 5.15 5.42 5.76 3.16 10.02 1.68 5.17 7.19 7.87 6.30 +3.1 pt
ROIC 7.92 7.30 6.96 5.70 6.39 5.12 3.00 5.70 6.61 10.38 0.00 +2.5 pt
ROE 7.77 8.19 8.20 9.01 5.31 16.24 2.51 7.47 10.77 11.67 10.47 +3.9 pt
People
People Employees 14,450 14,850 14,891 14,881 13,432 12,965 12,355 13,123 14,962 15,278 — +0.6%
Revenue/emp, $m 0.06 0.06 0.07 0.07 0.08 0.08 0.09 0.09 0.09 0.10 — +5.0%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

National HealthCare Corporation vs peers in Medical Care Facilities (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
OPCH Option Care Health, Inc. $4.7B 22.6× 21.2× +4.08% (above 0%: growing) +19.81% (above 0%: growing) −17.04% (below 0%: shrinking) 19.08% 5.97% Compare
NHC National HealthCare Corporation $3.3B 28.2× 8.4× +6.61% (above 0%: growing) −65.61% (below 0%: shrinking) +75.52% (above 0%: growing) 100.00% 0.00%
ACHC Acadia Healthcare Company, Inc. $3.2B — (loss-making) 34.4× +5.14% (above 0%: growing) −5.00% (below 0%: shrinking) +196.54% (above 0%: growing) 100.00% 0.00% Compare
SGRY Surgery Partners, Inc. $3.0B — (loss-making) — (loss-making) +2.75% (above 0%: growing) n/m −60.63% (below 0%: shrinking) 22.41% 12.78% Compare
AVAH Aveanna Healthcare Holdings Inc. $3.0B 10.5× 18.3× +13.73% (above 0%: growing) +46.15% (above 0%: growing) +57.89% (above 0%: growing) 32.59% 11.93% Compare
BKD Brookdale Senior Living Inc. $2.6B — (loss-making) 341× −11.61% (below 0%: shrinking) n/m +533.14% (above 0%: growing) 29.94% 11.86% Compare
GRDN Guardian Pharmacy Services, Inc. $2.5B 37.8× 33.3× −1.68% (below 0%: shrinking) +133.33% (above 0%: growing) +88.88% (above 0%: growing) 22.97% 6.75% Compare
MD Pediatrix Medical Group, Inc. $2.5B 17.1× 15.3× +1.72% (above 0%: growing) −27.61% (below 0%: shrinking) −14.41% (below 0%: shrinking) 27.98% 13.01% Compare
ADUS Addus HomeCare Corporation $2.4B 21.1× 20.3× +7.02% (above 0%: growing) +24.19% (above 0%: growing) −17.07% (below 0%: shrinking) 32.08% 10.27% Compare
Median of peers $2.8B 21.1× 21.2× +3.42% +22.00% +21.74% 28.96% 11.07%

All 51 Medical Care Facilities stocks →

Pay and ownership Proxy statement filed 2 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 2.69m 3.41m 239.23
2024 2.15m 2.65m 183.17
2023 1.61m 2.42m 153.90
2022 1.16m 1.05m 95.43
2021 2.25m 2.13m 105.34

Ownership

Directors and executive officers, together 13.92%
BlackRock, Inc. 11.60%
The Vanguard Group 9.10%
Morgan Stanley 7.10%
Morgan Stanley Institutional Investment Advisors, LLC 6.70%
National Health Corporation P. O. Box 6.60%
Dimensional Fund Advisors, LP 6.20%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

National HealthCare Corporation (NHC) Latest News

18 Oct

Impact 4 · · Simply Wall St.

1 Jul

Impact 4 ·

4 Jun

Impact 4 · · Business Wire

8 May

Impact 4 · · Business Wire
Impact 3 · · Business Wire

7 May

Impact 3 · · Business Wire

5 May

Impact 4 · · Simply Wall St.

22 Apr

Impact 4 · · PR Newswire

21 Apr

Impact 4 · · Business Wire
Impact 4 · · ACCESS Newswire

6 Mar

Impact 4 · · Simply Wall St.

26 Feb

Impact 4 · · Business Wire
Impact 3 · · Associated Press Finance

13 Feb

Impact 3 · · Business Wire

7 Nov

Impact 4 · · Associated Press Finance
Impact 4 · · Business Wire

6 Nov

Impact 3 · · Business WireZacksSimply Wall St.GuruFocus.comSimply Wall St.GuruFocus.com

4 Nov

Impact 4 · · Simply Wall St.

26 Sep

Impact 4 · · Simply Wall St.

10 Sep

Impact 4 · · Simply Wall St.

4 Sep

Impact 4 ·

28 Aug

Impact 3 ·

8 Aug

Impact 4 · · Associated Press Finance
Impact 4 ·

7 Aug

Impact 3 · · Business Wire

30 Jul

Impact 3 · · Simply Wall St.

5 Jun

Impact 4 · · Simply Wall St.

9 May

Impact 4 ·
Impact 4 · · Business Wire

30 Apr

Impact 4 · · Simply Wall St.

NHC metrics, ten years each

stockrow.com/NHC · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com