Diversified Healthcare Trust (DHC) vs National Health Investors, Inc. (NHI)

Diversified Healthcare Trust and National Health Investors, Inc. are both Reit Healthcare Facilities companies. National Health Investors, Inc. is the larger, with a market value of $3.3B against $2.0B — 1.7× the size. Diversified Healthcare Trust has negative trailing earnings, so its P/E is not meaningful; National Health Investors, Inc. trades at 19.3×. National Health Investors, Inc. grew revenue faster over the last twelve months: 23.9% against −1.49%. National Health Investors, Inc. has the higher net margin (38.5% vs −17.7%) and the higher return on invested capital (4.39% vs −2.09%). Both pay a dividend; National Health Investors, Inc. yields more (6.82% vs 1.52%). Across the 21 metrics below, National Health Investors, Inc. leads on 14 and Diversified Healthcare Trust on 7.

Valuation

Metric DHC NHI Reit Healthcare Facilities median
P/E n/m 19.29 23.53
P/S 1.30 7.50 5.39
P/B 1.24 2.05 1.88
Price to free cash flow 18.25 n/m 17.82
EV/EBITDA 29.04 15.22 15.62
EV/Sales 3.12 10.38 8.52
Earnings yield (13.65%) 5.19% 2.66%
Free cash flow yield 5.48% (1.78%) 3.37%

Profitability

Metric DHC NHI Reit Healthcare Facilities median
Gross margin 19.74% 76.49% 92.10%
Operating margin (8.57%) 45.90% 21.06%
Net margin (17.73%) 38.54% 10.19%
Free cash flow margin 7.15% (13.33%) 7.91%
Return on equity (15.47%) 10.86% 4.06%
Return on assets (5.91%) 5.88% 2.10%
Return on invested capital (2.09%) 4.39% 1.96%

Growth

Metric DHC NHI Reit Healthcare Facilities median
Revenue growth (TTM) (1.49%) 23.94% 15.71%
EPS growth (last fiscal year) 23.23% (3.51%) —
Revenue growth, 5-year CAGR (1.18%) 2.45% 9.60%
Net income growth, 5-year CAGR 0.00% (5.17%) 0.00%

Health

Metric DHC NHI Reit Healthcare Facilities median
Debt to equity 1.52 0.81 0.84
Current ratio 4.67 6.78 3.05
Net debt to EBITDA 16.88 4.06 5.50

Dividend

Metric DHC NHI Reit Healthcare Facilities median
Dividend yield 1.52% 6.82% 7.11%
Payout ratio 0.02 1.42 2.85

Size

Metric DHC NHI Reit Healthcare Facilities median
Market cap 1.97b 3.30b 4.18b

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