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
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.
Others in SIC 8051
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| ENSG | ENSIGN GROUP, INC | $9.95B | 29.2x | 18.8% |
| PACS | PACS Group, Inc. | $6.73B | 34.8x | 29.4% |