NHC
NATIONAL HEALTHCARE CORP
Next earnings Aug 3, 2026
Last earnings +10.2% on 2026-05-08
$205.98
▲ +2.21%$205.98▲ +100.35%
over 1Y
L $93.18EODHDH $206.54
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+2.2%
1W+2.6%
1M+7.6%
3M+28.8%
YTD+59.0%
1Y+100.9%
Hold
Conviction
Horizon
Long (>12mo)
12-mo target
$•••
Quality SNF operator with White Oak-fueled growth and a fortress balance sheet, but 26x P/E is full for a Medicare-dependent business.
The read
Middling fundamentals offset by an attractive price (~26% below fair value) — worth a look on the value angle.
NHC is putting up its best numbers in years. FY2025 revenue grew 16.1% to $1.52B and net income rose 17.7% to $120M, with operating income jumping 42.8% to $128M — meaningfully outpacing the top line and pointing to real operating leverage as the August 2024 White Oak acquisition (15 SNFs, 1,928 beds plus ancillary assets in the Carolinas) is absorbed. Occupancy at owned/leased SNFs improved for the third straight year to 89.7% (vs. 88.6% in 2024 and 87.9% in 2023), and the company runs at 62.5% 4-and-5-star rated facilities versus an industry 38.6% — a quality edge that matters under CMS's value-based purchasing regimes the filing flags.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $1.07B | $1.09B | $1.14B | $1.31B | $1.52B |
| Gross profit | — | — | — | — | — |
| Operating income | $50.9M | $31.9M | $57.5M | $89.9M | $128M |
| Net income | $139M | $22.4M | $66.8M | $102M | $120M |
| Diluted EPS | $8.99 | $1.45 | $4.34 | $6.53 | $7.67 |
| Net margin | 12.9% | 2.1% | 5.9% | 7.8% | 7.9% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$3.15B
EV / EBITDA18.2
EV / Sales2.1
EV / FCF21.2
P / FCF21.5
PEG (trailing)1.51
Earnings yield3.7%
FCF yield4.6%
Quality & risk
ROIC (est.)9.1%
Free cash flow$149M
Total debt$40.0M
Net cash$52.8M
Altman Z-Score6.45 safe
Piotroski F-Score7/8
Capital returns
Buyback yield0.5%
Dividend yield (est.)1.2%
Shareholder yield1.7%
Shares Δ YoY+0.6%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRecent disclosure tone has been improving.
- 8-K Agreement terminated2026-05-27
New material agreement + debt obligation; prior contract terminated — refinancing event
- 8-K Material agreement2026-05-15
Entered new material agreement; details in exhibits
- 8-K Shareholder vote2026-05-13
Annual meeting vote results disclosed — routine governance outcome
- 8-K Earnings results2026-05-08
Q1 2026 earnings released alongside the 10-Q
- 8-K Other event2026-05-07
Q1 2026 results; follows FY25 with revenue +16% and EPS +17.5%
- 10-Q Quarterly report2026-05-07
Q1 2026 results; follows FY25 with revenue +16% and EPS +17.5%
- 8-K Agreement terminated2026-04-22
New material agreement signed and another terminated, with Reg FD update
- DEF 14A Proxy statement2026-04-02
2026 annual proxy filed — director slate and exec comp for vote
- 10-K Annual report2026-02-26
FY25: revenue $1.52B +16%, EPS $7.67 +17.5%, op income +43%, LT debt -75%
Recent filings
all on EDGAR ↗4Period ending 2026-06-222026-06-23open ↗4Period ending 2026-06-162026-06-18open ↗4Period ending 2026-06-162026-06-18open ↗4Period ending 2026-06-082026-06-10open ↗4Period ending 2026-06-012026-06-02open ↗8-KPeriod ending 2026-05-272026-05-27open ↗4Period ending 2026-05-222026-05-27open ↗4Period ending 2026-05-212026-05-22open ↗4Period ending 2026-05-202026-05-22open ↗144Filing2026-05-21open ↗4Period ending 2026-05-192026-05-20open ↗4Period ending 2026-05-142026-05-18open ↗
Frequently asked
- Is NATIONAL HEALTHCARE CORP (NHC) a buy?
- NHC currently carries a Hold rating with 4/5 conviction, derived from its latest SEC filings. Quality SNF operator with White Oak-fueled growth and a fortress balance sheet, but 26x P/E is full for a Medicare-dependent business.
- What is NHC's fair value?
- A Modified-Graham model based on NHC's SEC fundamentals estimates a fair value of about $259.85. It is an estimate from reported earnings, not a price target.
- Is NHC overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, NHC currently appears undervalued relative to its SEC-grounded earnings power.
- What is NATIONAL HEALTHCARE CORP's quality score?
- NHC scores 72.05882352941175/100 (grade B) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001047335, latest 10-Q filed 2026-05-07) · EODHD · analysis by claude-code · as of 6/25/2026, 1:45:55 PM.
Research and education only — not financial advice. EDGAR is not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities EDGAR rates; see Disclosures. Past performance does not guarantee future results. Do your own research.