National Health Investors, Inc.

NHI Real Estate Reit Healthcare Facilities

National Health Investors, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $375.6 million, up 12.1% from fiscal 2024.

Revenue
+33.8%
EPS
+45.6%
Free cash flow
+2,585.5%
Total debt
+13.9%

Quarter to June 2026, against a year earlier

71.11 0.47 −0.66%
Market cap
$3.5B
P/E
20.5×
Fwd P/E
16.5×
Dividend yield
5.20%
F-score
5/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a

National Health Investors, Inc. (NHI) Free cash flow margin

Alert me on Free cash flow margin

National Health Investors, Inc.'s free cash flow margin over the twelve months to 30 June 2026 was −13.3%, up 2.0 percentage points from fiscal 2025 (−15.3%). Over the past ten years it has ranged from −76.6% (fiscal 2016) to 133.7% (fiscal 2021); the current reading is higher than 18% of that period. That is below the Reit Healthcare Facilities industry median of 15.8% and below the Real Estate sector median of 12.2%.

Free cash flow margin, annual

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Annual newest first

Period Free cash flow margin Change (points)
FY2025 −15.3% (32.01)
FY2024 16.7% (43.30)
FY2023 60.0% (63.39)
FY2022 123.4% (10.30)
FY2021 133.7% 87.11
FY2020 46.6% 45.41
FY2019 1.18% (19.26)
FY2018 20.4% 12.28
FY2017 8.16% 84.78
FY2016 −76.6% (98.42)

Against its own ten years

Low −76.6% High 133.7%
Ten-year median 20.4%
Current reading's percentile 18

Free cash flow margin against peers

Company Free cash flow margin
HR Healthcare Realty Trust Incorporated compare 99.5%
CTRE CareTrust REIT, Inc. compare 81.4%
AHR American Healthcare REIT, Inc. compare 15.8%
NHP National Healthcare Properties, Inc. compare 15.6%
DHC Diversified Healthcare Trust compare 12.3%
MPT Medical Properties Trust, Inc. compare 0.00%
NHI National Health Investors, Inc. −13.3%
SBRA Sabra Healthcare REIT, Inc. compare −30.5%
LTC LTC Properties, Inc. compare −159.9%
Reit Healthcare Facilities industry median 15.8%
Real Estate sector median 12.2%
Market median 0.00%

What Free cash flow margin is

Free Cash Flow Margin tells an investor how much of each sale turns into cash the company keeps after paying for investment in its assets.

(Operating Cash Flow + Property, Plant, Equipment Change (Net) + Intangible Assets Change (Net)) ÷ Revenue

The full definition of Free cash flow margin →

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