NATIONAL HEALTHCARE CORP NHC
National HealthCare Corporation, which we also refer to as NHC or the Company, began business in 1971. Our principal business is the operation of skilled nursing facilities, assisted living facilities, independent living facilities, homecare and hospice agencies, and behavioral health hospitals. Our business activities include providing sub–acute and post–acute skilled nursing care, intermediate nursing care, rehabilitative care, memory and Alzheimer's care, senior living services, home health care services, hospice services, and behavioral health services. In addition, we provide management services, accounting and financial services, as well as insurance services to third party operators of health care facilities. We also own the real estate of 10 healthcare properties and lease these properties to third party operators. We operate in 9 states and our operations are primarily located in the Southeastern and Midwestern parts of the United States.
Valuation FY2025 figures against the last close
Where the revenue comes from as reported in the latest 10-K
Revenue by segment
- Inpatient Services Segment
- Homecare Services Segment
| Segment | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Inpatient Services Segment | $1.32B | $1.11B | $956.1M |
| Homecare Services Segment | $154.1M | $140.5M | $131.5M |
As the company reported it, from the “Note 5 - Business Segments - Summary of Financial Information by Reporting Segment (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.47B | $1.25B | $1.09B | $1.03B | $965.5M | $931.8M | $947.9M | $932.8M | $916.7M | $877.7M |
| SG&A | $27.50T | $26.24T | $21.41T | $20.7M | $20.2M | $19.9M | $27.0M | $28.7M | $29.8M | $29.3M |
| Total operating expenses | $1.39B | $1.22B | $1.08B | $1.05B | $1.02B | $980.1M | $947.3M | $924.3M | $909.8M | $863.0M |
| Operating income | $128.4M | $89.9M | $57.5M | $31.9M | $50.9M | $48.2M | $49.0M | $56.1M | $54.1M | $60.5M |
| Interest expense | $6.4M | $4.1M | $324.0K | $563.0K | $845.0K | $1.4M | $3.1M | $4.7M | $4.9M | $3.9M |
| Pre-tax income | $162.4M | $136.4M | $88.7M | $27.2M | $149.5M | $52.3M | $88.2M | $75.1M | $75.1M | $80.2M |
| Income tax | $39.8M | $34.3M | $23.4M | $7.3M | $11.0M | $10.4M | $20.0M | $16.2M | $18.9M | $29.7M |
| Net income | $120.0M | $101.9M | $66.8M | $22.4M | $138.6M | $41.9M | $68.2M | $59.0M | $56.2M | $50.5M |
| EPS, basic | 7.76 | 6.62 | 4.36 | 1.46 | 9.03 | 2.74 | 4.47 | 3.87 | 3.70 | 3.34 |
| EPS, diluted | 7.67 | 6.53 | 4.34 | 1.45 | 8.99 | 2.72 | 4.44 | 3.87 | 3.69 | 3.32 |
| Shares, diluted (wtd. avg.) | 15.6M | 15.6M | 15.4M | 15.4M | 15.4M | 15.4M | 15.4M | 15.2M | 15.2M | 15.2M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $92.8M | $76.1M | $107.1M | $58.7M | $107.6M | $147.1M | $50.3M | $43.2M | $59.1M | $31.6M |
| Short-term investments | — | — | — | — | — | — | $20.6M | $18.7M | $21.0M | $138.0M |
| Receivables | $139.0M | $135.3M | $108.5M | $100.0M | $96.1M | $89.7M | $93.0M | $97.3M | $86.8M | $82.5M |
| Inventory | $7.8M | $9.0M | $7.4M | $7.1M | $8.6M | $8.8M | $7.4M | $7.5M | $7.2M | $7.5M |
| Total current assets | $461.8M | $424.4M | $406.2M | $353.9M | $426.6M | $456.8M | $341.1M | $322.0M | $329.3M | $290.9M |
| Property, plant and equipment | $673.8M | $684.3M | $493.3M | $506.5M | $521.0M | $520.3M | $535.4M | $534.6M | $549.3M | $559.6M |
| Goodwill | $170.5M | $170.5M | $168.3M | $168.3M | $168.3M | $21.3M | $21.0M | $21.0M | $17.6M | $17.6M |
| Other intangibles | $19.9M | $19.9M | $7.0M | $7.0M | $7.0M | $0 | — | — | — | — |
| Total assets | $1.53B | $1.52B | $1.31B | $1.28B | $1.40B | $1.36B | $1.29B | $1.08B | $1.10B | $1.09B |
| Short-term debt | $7.5M | $7.5M | $0 | — | — | $0 | $10.0M | $0 | — | — |
| Total current liabilities | $253.6M | $234.8M | $214.5M | $197.9M | $263.2M | $281.2M | $194.8M | $157.9M | $155.1M | $150.9M |
| Long-term debt | $32.5M | $129.5M | $0 | — | — | — | $0 | $55.0M | $100.0M | $120.0M |
| Total liabilities | $451.9M | $541.3M | $400.3M | $397.9M | $494.9M | $563.9M | $507.6M | $346.5M | $393.1M | $417.8M |
| Retained earnings | $833.0M | $752.2M | $687.6M | $656.7M | $669.1M | $563.0M | $553.1M | $516.4M | $419.4M | $391.9M |
| Total equity | $1.07B | $980.2M | $910.5M | $877.5M | $908.5M | $798.3M | $779.1M | $734.5M | $703.4M | $669.6M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $185.1M | $107.3M | $111.2M | $8.7M | $62.4M | $203.3M | $100.1M | $98.4M | $94.5M | $90.9M |
| Depreciation and amortisation | $44.9M | $42.0M | $42.0M | $40.5M | $40.7M | $42.0M | $42.4M | $41.9M | $42.7M | $39.0M |
| Stock-based compensation | $4.4M | $4.2M | $2.8M | $2.6M | $2.6M | $2.5M | $1.9M | $1.8M | $1.7M | $509.0K |
| Capital expenditure | $36.4M | $27.6M | $27.9M | $30.2M | $39.4M | $21.9M | $26.4M | $29.8M | $32.3M | $62.6M |
| Investing cash flow | -$33.9M | -$236.7M | -$17.6M | -$6.0M | -$65.9M | -$63.9M | -$14.3M | -$33.7M | -$9.6M | -$81.5M |
| Financing cash flow | -$136.0M | $100.3M | -$42.5M | -$47.6M | -$35.3M | -$41.9M | -$79.7M | -$77.3M | -$49.1M | -$27.1M |
| Dividends paid | $38.7M | $37.0M | $35.6M | $34.6M | $32.0M | $31.9M | $31.2M | $29.8M | $28.2M | $25.8M |
| Buybacks | $14.7M | $13.5M | $2.5M | $9.9M | $836.0K | $53.0K | $872.0K | $867.0K | $0 | $8.2M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001437749-26-005910.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $877.7M | $916.7M | $932.8M | $947.9M | $931.8M | $965.5M | $1.03B | $1.09B | $1.25B | $1.47B |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Net income | $50.5M | $56.2M | $59.0M | $68.2M | $41.9M | $138.6M | $22.4M | $66.8M | $101.9M | $120.0M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Material agreement terminated An agreement that mattered has ended. Often the other half of a deal that fell through. Item 1.02
- Acquisition or disposal completed A purchase or sale of a significant business or asset has closed. Item 2.01
- New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Material agreement signed Item 1.01
- Material agreement terminated Item 1.02
- New debt or obligation Item 2.03
- Material agreement signed Item 1.01
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
Others in SIC 8051
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| ENSG | ENSIGN GROUP, INC | $10.23B | 30.1x | 18.8% |
| PACS | PACS Group, Inc. | $7.54B | 39.0x | 29.4% |