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National HealthCare Corporation

AMEX•NHC
CEO: Dr. Stephen Fowler Flatt
Sector: Healthcare
Industry: Medical - Care Facilities
Listing Date: 1987-01-02
National HealthCare Corporation engages in the operation of services to skilled nursing facilities, assisted and independent living facilities, homecare and hospice agencies, and health hospitals. Its skilled nursing facilities offer licensed therapy services, nutrition services, social services, activities, and housekeeping and laundry services, as well as medical services prescribed by physicians; and rehabilitative services, such as physical, speech, respiratory, and occupational therapy for patients recovering from strokes, heart attacks, orthopedic conditions, neurological illnesses, or other illnesses, injuries, or disabilities. The company's medical specialty units comprise memory care units and sub-cute nursing units that provide specialized care and programs for persons with Alzheimer's or related disorders; and assisted living facilities offer personal care services and assistance with general activities of daily living, such as dressing, bathing, meal preparation, and medication management. Its independent living facilities offers specially designed residential units for the active and ambulatory elderly and provide various ancillary services for residents, including restaurants, activity rooms and social areas; and behavioral health services to both adults and geriatric patients with psychiatric, emotional, and addictive disorders. In addition, the company's homecare agencies assist those who wish to stay at home or in assisted living residences but still require some degree of medical care or assistance with daily activities; hospice agencies that provides hospice and palliative care; and operates pharmacies, as well as managed care insurance solutions. Further, it offers management, accounting, and financial services; and leases its properties to third party operators. The company was founded in 1971 and is based in Murfreesboro, Tennessee.
Contact Information
100 East Vine Street, Murfreesboro, TN, 37130, United States
615-890-2020
www.nhccare.com
Market Cap
$2.51B
P/E (TTM)
20.8
0
Dividend Yield
1.6%
52W High
$174.54
52W Low
$89.14
52W Range
85%
Rank30Top 19.5%
5.1
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Average • 5.1 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2025

Financial Dashboard

Q4 2025 Data

Revenue

$384.79M+0.00%
4-Quarter Trend

EPS

$1.61+0.00%
4-Quarter Trend

FCF

$6.41M+0.00%
4-Quarter Trend

2025 Annual Earnings Highlights

Key Highlights

Revenue Growth Reaches 16.1% Net operating revenues plus stimulus reached $1.518B in 2025, marking a 16.1% increase over $1.307B reported in 2024.
Net Income Rises 17.7% Net income attributable to NHC stockholders grew to $120.015M in 2025, reflecting a strong 17.7% increase from the prior year.
Skilled Nursing Census Improves Overall census in owned/leased SNFs reached 89.7% for 2025, up from 88.6% in 2024, driven by focused operational management.
White Oak Acquisition Accretive The White Oak portfolio acquisition contributed $227.545M to 2025 net patient revenues, showing immediate accretion to overall earnings.

Risk Factors

Reimbursement Rate Reductions Substantial revenue depends on Medicare/Medicaid; future rate cuts or payment method changes could severely reduce operating margins.
Labor Costs and Staffing Shortages Competitive labor market increases wage rates; failure to attract/retain qualified personnel harms operational effectiveness and profitability.
Master Lease Dispute Risk Dispute with NHI over alleged non-monetary defaults risks termination of occupancy for key leased properties, impacting liquidity.
Value-Based Purchasing Uncertainty Trend toward value-based purchasing makes predicting future reimbursement difficult; failure to meet quality standards reduces revenue.

Outlook

Expanding Senior Health Operations Undertaking expansion of post-acute and senior health care operations while protecting existing markets through recent construction and purchases.
Capital Spending on Properties Directing substantial free cash flow toward continued investment in physical plant maintenance and modernization of aging facilities.
Strong Liquidity Position Expect short-term needs met by operating cash flow, current cash of $92.829M, and $50M line of credit availability.
Adhering to Evolving Regulations Maintaining policies to ensure substantial compliance with complex anti-fraud/abuse laws, despite uncertainty in future regulatory interpretations.

Peer Comparison

Revenue (TTM)

ARDT stock ticker logoARDT
$6.32B
+6.0%
SEM stock ticker logoSEM
$5.45B
+15.8%
ACHC stock ticker logoACHC
$3.31B
+5.0%

Gross Margin (Latest Quarter)

ARDT stock ticker logoARDT
165.5%
-25.6pp
NHC stock ticker logoNHC
67.7%
+1.8pp
PRCT stock ticker logoPRCT
60.6%
+1.6pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
BKD$3.31B-12.4-523.8%112.0%
NHC$2.51B20.811.6%5.7%
LFST$2.47B252.90.7%8.8%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
1.0%
Moderate Growth
4Q Net Income CAGR
-8.3%
Declining Profitability
Cash Flow Stability
100%
Strong Cash Flow

Deep Research

Next earnings:May 6, 2026
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