National Health Investors, Inc.

National Health Investors, Inc.

NHIยทNYSE

$69.54

-0.34%
Real EstateREIT - Healthcare Facilities

Incorporated in 1991, National Health Investors, Inc. (NYSE: NHI) is a real estate investment trust specializing in sale-leaseback, joint-venture, mortgage and mezzanine financing of need-driven and discretionary senior housing and medical investments. NHI's portfolio consists of independent, assisted and memory care communities, entrance-fee retirement communities, skilled nursing facilities, medical office buildings and specialty hospitals.

At a Glance

Live Snapshot
Market Cap$3.37B
EPS3.0300
P/E Ratio22.95
Earnings Date08/05/2026

Intrinsic Alpha Methodology

Thesis Lenses

Signal ยท Driver ยท Risk

Signal

High confidence

Valuation multiple is mid-range (P/E 22.9).

Valuation inputs: P/E 22.9, earnings yield +4.4%, momentum -0.3%.

If multiples stay elevated while momentum fades, downside repricing risk rises.

Driver

High confidence

Return profile is acceptable (ROE +9.3%, ROIC +7.0%).

Profitability stack: net margin +37.6%, ROE +9.3%, ROIC +7.0%.

Quality deterioration often appears in margins before it shows up in headline EPS.

Risk

High confidence

Downside profile looks controlled across current risk inputs.

Risk factors: liabilities/assets +44.9%, momentum -0.3%, net margin +37.6%.

Higher leverage with weak momentum and thin margins can amplify drawdown severity.

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National Health Investors, Inc. Market vs Earnings Trajectory

NHI ยท NYSE

Loading price and EPS data...

National Health Investors, Inc.

National Health Investors, Inc. Fair Value Envelope

NHI ยท NYSE

Our analysis suggests that NHI has a fair value of HIDDEN per share in the Base Case projection. With shares currently trading at $69.54, this represents a potential HIDDEN relative to our calculated worth for National Health Investors, Inc..

Intrinsic Value
Current Price: $69.54
3Y+483.0%
5Y-
10Y-22.0%
3Y+36.0%
5Y+14.0%
10Y+52.0%
3Y+114.0%
5Y-23.0%
10Y-6.0%
3Y+30.0%
5Y+3.0%
10Y+36.0%
3Y+22.0%
5Y-5.0%
10Y-216.0%
3Y+12.0%
5Y-10.0%
10Y+16.0%
National Health Investors, Inc.

National Health Investors, Inc. Profit Bridge

NHI ยท NYSE
Revenue378.53M
Cost of Goods Sold (239.60M)
Gross Profit138.93M
Operating Expenses (-55.90M)
Operating Income194.83M
Interest Expense (57.37M)
Other Income/Expense-54.04M
Pretax Income140.79M
Income Tax (0.00)
Net Income142.18M
Net Income
142.18M

Profitability Analysis

Gross Margin

36.7%

Strong gross margins indicate healthy pricing and efficient production or service delivery.

Operating Margin

51.5%

Outstanding operational efficiency. The company generates substantial profit from core operations.

Net Profit Margin

37.6%

Exceptional profitability. The company converts a significant portion of revenue to bottom-line earnings.

Effective Tax Rate

0.0%

Below-average tax rate suggests effective tax planning, favorable jurisdictions, or tax credits.

Profitability Insight

Efficient profit conversion: Minimal margin compression from gross to net indicates lean operations and favorable tax/interest environment.

36.70%
Gross Profit Margin
-62%
3Y-62.0%
5Y-62.0%
10Y-63.0%
51.47%
Operating Profit Margin
-6%
3Y+8.0%
5Y-24.0%
10Y-28.0%
37.56%
Net Profit Margin
-9%
3Y+57.0%
5Y-32.0%
10Y-38.0%
9.34%
Return on Equity
-7%
3Y+79.0%
5Y-24.0%
10Y-25.0%
5.08%
Return on Assets
-4%
3Y+92.0%
5Y-14.0%
10Y-19.0%
6.97%
Return on Invested Capital
-4%
3Y+28.0%
5Y-5.0%
10Y-8.0%
NHI

National Health Investors, Inc. Cash Conversion Engine

NHI ยท NYSE
Net Income142.18M
Depreciation & Amortization83.84M
Stock-Based Compensation0.00
Change in Working Capital7.26M
Others6.95M
Capital Expenditures-19.97M
Free Cash Flow220.26M

Cash Flow Quality Analysis

FCF Conversion Rate

154.9%

Excellent cash generation. The company converts earnings to cash at or above 100%, indicating high-quality earnings.

CapEx Intensity

8.3%

Asset-light business model. Low capital requirements leave more cash available for shareholders and growth investments.

FCF Growth Trend

+14.5%

Steady FCF growth indicates consistent cash generation improvement. On a positive trajectory.

Working Capital Impact

+$7.26M

Working capital inflow boosted cash flow. Efficient management of receivables, inventory, and payables contributing positively.

Cash Flow Quality Insight

Exceptional cash generation: High-quality earnings converting to growing free cash flow. The company demonstrates strong pricing power, efficient operations, and disciplined capital allocation.

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National Health Investors, Inc. Funding & Solvency Profile

NHI ยท NYSE
Cash & Cash Equivalents24.95M
Net Receivables79.30M
Inventory0.00
Other Current Assets0.00
Total Current Assets104 M
Property, Plant & Equipment0.00
Goodwill & Intangible Assets3.15B
Long-Term Investments0.00
Other Non-Current Assets0.00
Total Non-Current Assets0
Total Assets
2.89B

Financial Health Analysis

Current Ratio

20.02x

Excellent liquidity position. The company can easily cover its short-term obligations with substantial cushion.

Debt-to-Equity Ratio

0.89x

Balanced capital structure with moderate leverage. Equity exceeds debt, suggesting healthy financial stability.

Working Capital

99 M

Strong working capital position provides significant operational flexibility and financial cushion.

Asset Composition

4% Current

Capital-intensive business with significant long-term investments in property, equipment, or intangibles.

Financial Health Insight

Strong financial foundation: Excellent liquidity combined with conservative leverage suggests the company is well-positioned to weather economic uncertainties and fund growth opportunities.

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National Health Investors, Inc. Street Expectations Map

NHI ยท NYSE

Wall Street analysts project that NHI stock may rise significantly over the coming 12 months. The consensus 1-year price target stands at 85.40, with estimates ranging from a low of 83.00 to a high of 88.00.

Lowest Target
83.00
19.36%
Consensus Target
85.40
22.81%
Highest Target
88.00
26.55%

The consensus 1-year price target stands at 85.40, with estimates ranging from a low of 83.00 to a high of 88.00.

Analyst Consensus Analysis

Upside Potential

+22.8%

Strong upside potential. Consensus indicates attractive return opportunity with favorable risk-reward profile.

Analyst Agreement

5.9% spread

High analyst agreement. Narrow target range indicates strong consensus on valuation, suggesting clear investment thesis and predictable outlook.

Analyst Conviction

Very High

Strong buy conviction: High upside with tight consensus suggests compelling investment opportunity backed by analyst confidence.

Market Sentiment Insight

Rare opportunity: Exceptional upside potential with strong analyst consensus creates a compelling setup. The combination of significant price target premium and tight agreement suggests high-conviction undervaluation that may attract institutional capital.

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National Health Investors, Inc. Insider Positioning

NHI ยท NYSE

During the last 12 months, there has been no insider trading activity reported for NHI.

3 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

3-6 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

6-9 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

9-12 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

Top Buyers

No buying activity

Top Sellers

No selling activity

Insider Activity Analysis

Net Insider Sentiment

Neutral

No insider trading activity reported. This could indicate blackout periods, lack of conviction, or regulatory restrictions.

Insider Participation

No Activity

No insider trading activity reported from any insiders in the past year.

1.14%
Dividend Yield
-7%
3Y-35.0%
5Y-25.0%
10Y-5.0%
ย 

nhi Dividend History

NHI
10Y CAGR +0%
Latest $0.92
Annual $4.58
Stable dividend payments
Last Period: +0%