LTC Properties, Inc. (LTC) vs National Health Investors, Inc. (NHI)

LTC Properties, Inc. and National Health Investors, Inc. are both Reit Healthcare Facilities companies. National Health Investors, Inc. is the larger, with a market value of $3.5B against $2.6B — 1.4× the size. LTC Properties, Inc. trades at the lower P/E: 4.6× against 20.5×. LTC Properties, Inc. grew revenue faster over the last twelve months: 70.4% against 23.9%. LTC Properties, Inc. has the higher net margin (127.3% vs 38.5%) and the higher return on invested capital (12.6% vs 4.39%). Both pay a dividend; National Health Investors, Inc. yields more (5.20% vs 5.09%). Across the 22 metrics below, LTC Properties, Inc. leads on 18 and National Health Investors, Inc. on 4.

Valuation

Metric LTC NHI Reit Healthcare Facilities median
P/E 4.62 20.49 25.44
P/S 6.11 7.97 5.45
P/B 1.41 2.18 1.72
Price to free cash flow n/m n/m 18.55
EV/EBITDA 5.74 15.91 17.56
EV/Sales 8.15 10.85 8.15
Earnings yield 21.63% 4.88% 2.83%
Free cash flow yield (26.16%) (1.67%) 2.30%

Profitability

Metric LTC NHI Reit Healthcare Facilities median
Gross margin 100.00% 76.49% 80.80%
Operating margin 128.75% 45.90% 13.37%
Net margin 127.29% 38.54% 12.08%
Free cash flow margin (159.85%) (13.33%) 15.79%
Return on equity 36.41% 10.86% 3.97%
Return on assets 20.89% 5.88% 1.70%
Return on invested capital 12.63% 4.39% 2.02%

Growth

Metric LTC NHI Reit Healthcare Facilities median
Revenue growth (TTM) 70.37% 23.94% 10.53%
EPS growth (last fiscal year) 23.53% (3.51%) 23.53%
Revenue growth, 5-year CAGR 10.53% 2.45% 9.29%
Net income growth, 5-year CAGR 4.33% (5.17%) 0.00%

Health

Metric LTC NHI Reit Healthcare Facilities median
Debt to equity 0.58 0.81 0.78
Current ratio 10.37 6.78 2.39
Net debt to EBITDA 5.26 4.06 5.53

Dividend

Metric LTC NHI Reit Healthcare Facilities median
Dividend yield 5.09% 5.20% 5.26%
Payout ratio 0.24 1.07 1.68

Size

Metric LTC NHI Reit Healthcare Facilities median
Market cap 2.57b 3.52b 3.52b

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