NHI
National Health Investors Inc
NYSE: NHI · REAL ESTATE · REIT - HEALTHCARE FACILITIES
$76.53
-0.12% today
Updated 2026-04-29
Market cap
$3.71B
P/E ratio
25.34
P/S ratio
9.78x
EPS (TTM)
$3.02
Dividend yield
4.75%
52W range
$66 – $90
Volume
0.3M
National Health Investors Inc (NHI) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $150.72M | $62.31M | $63.01M | $64.22M | $78.40M | $82.70M | $96.95M | $117.83M | $177.51M | $228.99M | $248.50M | $278.66M | $294.61M | $318.08M | $332.81M | $298.71M | $278.19M | $319.83M | $335.18M | $378.53M |
| Revenue growth (YoY) | — | -58.7% | +1.1% | +1.9% | +22.1% | +5.5% | +17.2% | +21.5% | +50.7% | +29.0% | +8.5% | +12.1% | +5.7% | +8.0% | +4.6% | -10.2% | -6.9% | +15.0% | +4.8% | +12.9% |
| Cost of revenue | $92.23M | $13.21M | $13.72M | $14.49M | $2.00M | $12.81M | $771000.00 | $616000.00 | $620000.00 | $985000.00 | $1.01M | $960000.00 | $1.17M | $5.80M | $9.65M | $11.64M | $9.79M | $11.51M | $11.16M | $239.60M |
| Gross profit | $150.72M | $62.31M | $63.01M | $64.22M | $76.39M | $82.70M | $96.18M | $117.21M | $176.89M | $228.00M | $247.49M | $277.70M | $293.45M | $312.28M | $323.16M | $287.08M | $268.41M | $308.32M | $324.02M | $138.93M |
| Gross margin | 100.0% | 100.0% | 100.0% | 100.0% | 97.4% | 100.0% | 99.2% | 99.5% | 99.7% | 99.6% | 99.6% | 99.7% | 99.6% | 98.2% | 97.1% | 96.1% | 96.5% | 96.4% | 96.7% | 36.7% |
| R&D | — | — | — | — | $0.00 | $0.00 | — | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | — | — |
| SG&A | $5.34M | $5.66M | $5.18M | $7.21M | $8.85M | $8.03M | $8.56M | $10.04M | $9.32M | $10.98M | $10.20M | $12.71M | $12.86M | $13.91M | $14.56M | $19.34M | $25.32M | $19.82M | $21.79M | $26.87B |
| Operating income | $50.23M | $54.30M | $49.27M | $49.64M | $58.50M | $61.86M | $71.04M | $77.84M | $106.19M | $163.86M | $177.73M | $197.81M | $209.24M | $220.01M | $224.92M | $185.25M | $132.77M | $178.79M | $183.86M | $194.83M |
| Operating margin | 33.3% | 87.1% | 78.2% | 77.3% | 74.6% | 74.8% | 73.3% | 66.1% | 59.8% | 71.6% | 71.5% | 71.0% | 71.0% | 69.2% | 67.6% | 62.0% | 47.7% | 55.9% | 54.9% | 51.5% |
| EBITDA | $66.31M | $82.87M | $53.34M | $57.57M | $68.15M | $76.05M | $87.66M | $107.63M | $167.06M | $179.36M | $236.08M | $264.99M | $280.59M | $290.79M | $318.00M | $240.94M | $178.73M | $259.87M | $264.16M | $282.00M |
| EBITDA margin | 44.0% | 133.0% | 84.7% | 89.6% | 86.9% | 92.0% | 90.4% | 91.3% | 94.1% | 78.3% | 95.0% | 95.1% | 95.2% | 91.4% | 95.5% | 80.7% | 64.2% | 81.3% | 78.8% | 74.5% |
| EBIT | $54.51M | $71.15M | $45.40M | $48.95M | $57.16M | $64.06M | $71.08M | $87.53M | $126.37M | $126.20M | $149.96M | $185.03M | $190.80M | $213.97M | $234.84M | $160.15M | $107.85M | $189.89M | $192.71M | $198.16M |
| Interest expense | $0.00 | $4.63M | $308000.00 | $85000.00 | $1.55M | $3.85M | $3.49M | $9.23M | $23.30M | $37.63M | $43.11M | $46.32M | $49.05M | $56.30M | $52.88M | $48.11M | $42.44M | $55.51M | $56.12M | $57.37M |
| Income tax | $-18.83M | $-42.13M | $-8.24M | $-14.59M | $-10.92M | $-19.27M | $-12.53M | $-17.13M | $24.67M | $-707000.00 | $749000.00 | $46.32M | $-9.17M | $56.29M | $49.94M | $66000.00 | $-89000.00 | $55.07M | $-45000.00 | — |
| Effective tax rate | -37.4% | -77.6% | -16.7% | -29.4% | -18.7% | -31.1% | -16.0% | -19.2% | 19.5% | -0.5% | 0.5% | 22.5% | -6.3% | 26.0% | 21.2% | 0.1% | -0.1% | 28.9% | -0.0% | 0.0% |
| Net income | $69.23M | $96.44M | $57.51M | $64.23M | $69.42M | $81.13M | $90.73M | $106.18M | $101.61M | $148.86M | $151.54M | $159.37M | $154.33M | $160.46M | $185.13M | $111.80M | $66.40M | $135.65M | $137.99M | $142.18M |
| Net income growth (YoY) | — | +39.3% | -40.4% | +11.7% | +8.1% | +16.9% | +11.8% | +17.0% | -4.3% | +46.5% | +1.8% | +5.2% | -3.2% | +4.0% | +15.4% | -39.6% | -40.6% | +104.3% | +1.7% | +3.0% |
| Profit margin | 45.9% | 154.8% | 91.3% | 100.0% | 88.6% | 98.1% | 93.6% | 90.1% | 57.2% | 65.0% | 61.0% | 57.2% | 52.4% | 50.4% | 55.6% | 37.4% | 23.9% | 42.4% | 41.2% | 37.6% |