National Healthcare (NHC)
Market Price (8/10/2026): $213.855 | Market Cap: $3.3 BilSector: Health Care | Industry: Health Care Facilities
National Healthcare (NHC)
Market Price (8/10/2026): $213.855Market Cap: $3.3 BilSector: Health CareIndustry: Health Care Facilities
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.3% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 12% Low stock price volatilityVol 12M is 34% Megatrend and thematic driversMegatrends include Aging Population & Chronic Disease, and Digital Health & Telemedicine. Themes include Geriatric Care, and Remote Patient Monitoring. | Stock price has recently run up significantly12M Rtn12 month market price return is 118% Key risksNHC key risks include [1] legal and regulatory liabilities stemming from specific claims of patient abuse, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.3% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 12% |
| Low stock price volatilityVol 12M is 34% |
| Megatrend and thematic driversMegatrends include Aging Population & Chronic Disease, and Digital Health & Telemedicine. Themes include Geriatric Care, and Remote Patient Monitoring. |
| Stock price has recently run up significantly12M Rtn12 month market price return is 118% |
| Key risksNHC key risks include [1] legal and regulatory liabilities stemming from specific claims of patient abuse, Show more. |
Qualitative Assessment
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National Healthcare (NHC) stock has gained about 25% since 4/30/2026 because of the following key factors:
1. Strategic Acquisitions Bolstered Future Earnings. National HealthCare Corporation (NHC) completed significant acquisitions within the period, most notably the acquisition of thirty-five facilities from National Health Investors, Inc. for $560 million on July 1, 2026. This acquisition, coupled with the purchase of five skilled nursing facilities for $50.5 million on June 4, 2026, is projected to enhance net income by approximately $3.5 million per quarter (a 9.7% increase over fiscal Q1 2026 results) starting in fiscal Q3 2026 due to cost reductions and increased operating income.
2. Strong Fiscal Q1 2026 Performance and Increased Shareholder Returns. On May 8, 2026, NHC reported robust fiscal Q1 2026 earnings, demonstrating a 4.8% year-over-year increase in operating income. This positive financial performance was further underscored by a 4.7% increase in the common dividend, announced on May 7, 2026, with a quarterly payout of 64 cents per common share.
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National Healthcare (NHC) stock has gained about 25% since 4/30/2026 because of the following key factors:
1. Strategic Acquisitions Bolstered Future Earnings. National HealthCare Corporation (NHC) completed significant acquisitions within the period, most notably the acquisition of thirty-five facilities from National Health Investors, Inc. for $560 million on July 1, 2026. This acquisition, coupled with the purchase of five skilled nursing facilities for $50.5 million on June 4, 2026, is projected to enhance net income by approximately $3.5 million per quarter (a 9.7% increase over fiscal Q1 2026 results) starting in fiscal Q3 2026 due to cost reductions and increased operating income.
2. Strong Fiscal Q1 2026 Performance and Increased Shareholder Returns. On May 8, 2026, NHC reported robust fiscal Q1 2026 earnings, demonstrating a 4.8% year-over-year increase in operating income. This positive financial performance was further underscored by a 4.7% increase in the common dividend, announced on May 7, 2026, with a quarterly payout of 64 cents per common share.
3. Favorable Macroeconomic and Demographic Trends in Healthcare. The company benefited from a positive outlook in the broader healthcare sector, particularly within senior care services. National health expenditures are projected to grow by 7.3% in 2025, continuing a trend of growth exceeding 7.0% for a third consecutive year. Medicare spending, a significant funding source for NHC's services, is anticipated to grow fastest among major funding sources at an average rate of 7.7% per year from 2025 to 2034, driven by the aging baby-boomer population entering Medicare eligibility.
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Stock Movement Drivers
Fundamental Drivers
The 24.8% change in NHC stock from 4/30/2026 to 8/9/2026 was primarily driven by a 13.8% change in the company's Net Income Margin (%).| (LTM values as of) | 4302026 | 8092026 | Change |
|---|---|---|---|
| Stock Price ($) | 172.73 | 215.54 | 24.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,518 | 1,559 | 2.7% |
| Net Income Margin (%) | 7.9% | 9.0% | 13.8% |
| P/E Multiple | 22.3 | 24.0 | 7.6% |
| Shares Outstanding (Mil) | 16 | 16 | -0.7% |
| Cumulative Contribution | 24.8% |
Market Drivers
4/30/2026 to 8/9/2026| Return | Correlation | |
|---|---|---|
| NHC | 24.8% | |
| Market (SPY) | 7.6% | -2.0% |
| Sector (XLV) | 13.5% | 18.5% |
Fundamental Drivers
The 51.7% change in NHC stock from 1/31/2026 to 8/9/2026 was primarily driven by a 33.3% change in the company's Net Income Margin (%).| (LTM values as of) | 1312026 | 8092026 | Change |
|---|---|---|---|
| Stock Price ($) | 142.08 | 215.54 | 51.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,501 | 1,559 | 3.9% |
| Net Income Margin (%) | 6.7% | 9.0% | 33.3% |
| P/E Multiple | 21.7 | 24.0 | 10.4% |
| Shares Outstanding (Mil) | 15 | 16 | -0.9% |
| Cumulative Contribution | 51.7% |
Market Drivers
1/31/2026 to 8/9/2026| Return | Correlation | |
|---|---|---|
| NHC | 51.7% | |
| Market (SPY) | 12.1% | 4.9% |
| Sector (XLV) | 7.5% | 18.7% |
Fundamental Drivers
The 128.3% change in NHC stock from 7/31/2025 to 8/9/2026 was primarily driven by a 77.7% change in the company's P/E Multiple.| (LTM values as of) | 7312025 | 8092026 | Change |
|---|---|---|---|
| Stock Price ($) | 94.40 | 215.54 | 128.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,374 | 1,559 | 13.4% |
| Net Income Margin (%) | 7.9% | 9.0% | 14.6% |
| P/E Multiple | 13.5 | 24.0 | 77.7% |
| Shares Outstanding (Mil) | 15 | 16 | -1.1% |
| Cumulative Contribution | 128.3% |
Market Drivers
7/31/2025 to 8/9/2026| Return | Correlation | |
|---|---|---|
| NHC | 128.3% | |
| Market (SPY) | 23.4% | 14.3% |
| Sector (XLV) | 28.7% | 26.3% |
Fundamental Drivers
The 290.7% change in NHC stock from 7/31/2023 to 8/9/2026 was primarily driven by a 413.3% change in the company's Net Income Margin (%).| (LTM values as of) | 7312023 | 8092026 | Change |
|---|---|---|---|
| Stock Price ($) | 55.16 | 215.54 | 290.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,075 | 1,559 | 45.0% |
| Net Income Margin (%) | 1.8% | 9.0% | 413.3% |
| P/E Multiple | 44.9 | 24.0 | -46.5% |
| Shares Outstanding (Mil) | 15 | 16 | -1.8% |
| Cumulative Contribution | 290.7% |
Market Drivers
7/31/2023 to 8/9/2026| Return | Correlation | |
|---|---|---|
| NHC | 290.7% | |
| Market (SPY) | 74.9% | 27.7% |
| Sector (XLV) | 29.3% | 26.6% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| NHC Return | 5% | -9% | 61% | 19% | 30% | 61% | 284% |
| Peers Return | -2% | -3% | 35% | 7% | 68% | 18% | 172% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 105% |
Monthly Win Rates [3] | |||||||
| NHC Win Rate | 42% | 42% | 67% | 58% | 67% | 75% | |
| Peers Win Rate | 48% | 50% | 56% | 63% | 65% | 57% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| NHC Max Drawdown | -18% | -20% | -16% | -21% | -16% | -10% | |
| Peers Max Drawdown | -38% | -35% | -24% | -19% | -27% | -26% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: ENSG, PACS, BKD, ADUS, EHC.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 8/7/2026 (YTD)
How Low Can It Go
| Event | NHC | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -10.4% | -18.8% |
| % Gain to Breakeven | 11.6% | 23.1% |
| Time to Breakeven | 45 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -10.8% | -6.7% |
| % Gain to Breakeven | 12.1% | 7.1% |
| Time to Breakeven | 28 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -12.8% | -24.5% |
| % Gain to Breakeven | 14.7% | 32.4% |
| Time to Breakeven | 286 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -32.1% | -33.7% |
| % Gain to Breakeven | 47.2% | 50.9% |
| Time to Breakeven | 1338 days | 140 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -39.0% | -17.9% |
| % Gain to Breakeven | 63.9% | 21.8% |
| Time to Breakeven | 179 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -32.8% | -53.4% |
| % Gain to Breakeven | 48.9% | 114.4% |
| Time to Breakeven | 943 days | 1085 days |
In The Past
National Healthcare's stock fell -10.4% during the 2025 US Tariff Shock. Such a loss loss requires a 11.6% gain to breakeven.
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| Event | NHC | S&P 500 |
|---|---|---|
| 2020 COVID-19 Crash | ||
| % Loss | -32.1% | -33.7% |
| % Gain to Breakeven | 47.2% | 50.9% |
| Time to Breakeven | 1338 days | 140 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -39.0% | -17.9% |
| % Gain to Breakeven | 63.9% | 21.8% |
| Time to Breakeven | 179 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -32.8% | -53.4% |
| % Gain to Breakeven | 48.9% | 114.4% |
| Time to Breakeven | 943 days | 1085 days |
In The Past
National Healthcare's stock fell -10.4% during the 2025 US Tariff Shock. Such a loss loss requires a 11.6% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About National Healthcare (NHC)
National HealthCare Corporation (NHC) is a comprehensive healthcare provider specializing in operating and managing a wide array of facilities and services primarily for seniors and individuals requiring post-acute or specialized care. The company's core offerings encompass skilled nursing facilities, assisted living facilities, independent living facilities, homecare and hospice agencies, and a behavioral health hospital.
NHC's main services address a broad spectrum of patient needs. Its skilled nursing facilities provide extensive rehabilitative therapies—such as physical, speech, and occupational therapy—for patients recovering from conditions like strokes, heart attacks, or orthopedic issues, including specialized memory care units. Assisted living centers offer personal care and support with daily activities like dressing, bathing, and medication management, while independent living facilities cater to seniors seeking less intensive support. Additionally, NHC delivers essential care through its homecare agencies, offering skilled services in patients' homes, and its hospice agencies, providing compassionate end-of-life care.
Beyond these services, NHC operates a behavioral health hospital that treats adults and geriatric patients facing psychiatric, emotional, and addictive disorders. The company also supports its operations and generates revenue through ancillary services, including pharmacy operations, various management and financial services, and by leasing properties to third-party operators. This integrated model allows NHC to serve a diverse client base across a full continuum of care, from acute recovery and rehabilitation to long-term support and specialized behavioral health services.
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Here are 1-2 brief analogies for National Healthcare (NHC):
- Think of them as HCA Healthcare for elder care and rehabilitation facilities.
- Like a Marriott or Hilton, but instead of hotels, they operate a spectrum of senior living and specialized medical facilities.
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- Skilled Nursing Care: Provides medical and rehabilitative services, including specialized memory and sub-acute care, for patients recovering from various conditions.
- Assisted Living Services: Offers personal care and assistance with daily living activities for residents needing support.
- Independent Living Facilities: Provides residential living options for seniors who can live independently but desire a supportive community environment.
- Behavioral Health Services: Delivers psychiatric, emotional, and addictive disorder treatment for adults and geriatric patients in a hospital setting.
- Homecare Services: Offers skilled medical care and various therapies directly in patients' homes.
- Hospice Care Services: Provides palliative care and comprehensive support for individuals with life-limiting illnesses and their families.
- Pharmacy Services: Operates pharmacies to ensure access to necessary medications for patients.
- Management and Administrative Services: Offers management, accounting, financial, and insurance services to healthcare facilities.
- Property Leasing: Leases its healthcare properties to third-party operators.
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National Healthcare (NHC) primarily serves individual customers directly through its various healthcare facilities and agencies. The major categories of customers it serves are:
- Patients requiring skilled nursing, rehabilitation, or specialized long-term care: This includes individuals recovering from acute illnesses or injuries (such as strokes, heart attacks, orthopedic conditions), those needing extensive rehabilitation (physical, speech, occupational therapy), and patients requiring specialized memory care or sub-acute nursing due to chronic conditions or disabilities.
- Seniors and individuals seeking assisted living or independent living support: This category encompasses individuals who require personal care services and assistance with daily activities like dressing, bathing, meal preparation, and medication management, as well as those living independently within NHC's facilities.
- Patients needing home-based healthcare, hospice, or behavioral health services: This includes individuals who receive skilled nursing services, therapies, wound care, or infusion services in their homes, those requiring end-of-life hospice care, and adults and geriatric patients seeking treatment for psychiatric, emotional, or addictive disorders.
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Stephen F. Flatt - Chief Executive Officer and Inside Director
Stephen F. Flatt has served as the Chief Executive Officer of National HealthCare Corporation since January 2017. He joined NHC in 2005 as Senior Vice President of Development and was promoted to President in 2009. Before joining NHC, Dr. Flatt served as the President of Lipscomb University from 1997 to 2005. He also held leadership positions at Ezell Harding Christian School and served as Vice President of Financial Affairs & Institutional Planning at Lipscomb University. His career transition to healthcare involved NHC actively seeking leadership from outside the industry. Upon the retirement of Michael Ussery, Dr. Flatt will also assume the role of President of the company effective December 31, 2025.
Brian F. Kidd - Senior Vice President and Chief Financial Officer
Brian F. Kidd has served as the Senior Vice President and Chief Financial Officer of National HealthCare Corporation since being promoted to the role in 2023. He joined the company in 2008 and previously held positions as Vice President of Financial Reporting and Director of Financial Reporting. Prior to his tenure at NHC, Mr. Kidd accumulated 10 years of experience in public accounting and is a Certified Public Accountant.
R. Michael Ussery - President and Chief Operating Officer
R. Michael Ussery serves as the President and Chief Operating Officer of National HealthCare Corporation. He is set to retire effective December 31, 2025, concluding a 45-year career with NHC. Mr. Ussery joined the company in 1980 and progressed through various operational and leadership roles, including Senior Vice President-Operations, Senior Vice President-Central Region, Regional Vice President, and multiple facility Administrator positions. He was recognized as Administrator of the Year in 1989. He assumed the role of Chief Operating Officer in 2009 and President in 2017. Following his retirement, Timothy J. Shelly will become the principal operating officer.
B. Anderson "Andy" Flatt - Senior Vice President & Chief Information Officer
B. Anderson "Andy" Flatt holds the position of Senior Vice President and Chief Information Officer at National HealthCare Corporation.
Josh A. McCreary - Senior Vice President, Secretary and General Counsel
Josh A. McCreary serves as the Senior Vice President, Secretary, and General Counsel for National HealthCare Corporation. In this dual role, he oversees all legal matters for the company, providing advice on corporate law, healthcare regulations, compliance, and litigation, while also managing corporate governance and filings as Secretary.
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The key risks to National HealthCare Corporation (NHC) primarily revolve around its financial and operational stability within the highly regulated healthcare industry.
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Reimbursement and Regulatory Shifts: NHC is significantly dependent on reimbursement rates from government programs such as Medicare and Medicaid, as well as private third-party payers. Changes in these reimbursement rates, methods, or regulatory policies, including the shift towards value-based purchasing and potential automatic spending reductions, pose a substantial risk to the company's revenue and operating margins. The company faces ongoing exposure to updates in CMS payment across skilled nursing, home health, and hospice services, and any reductions in these rates or service levels, particularly for a higher Medicaid population, could negatively impact its financial position.
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Labor Shortages and Staffing Mandates: The healthcare industry, especially long-term care and skilled nursing facilities, is grappling with persistent and worsening labor shortages across various roles, including nursing and other healthcare professionals. These shortages can lead to increased labor costs due to higher wages and the reliance on more expensive contract workers, impact the quality and delivery of services, and could potentially result in facility closures. Potential staffing mandates further exacerbate this risk by increasing operational pressures and costs.
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Material Lease Dispute with National Health Investors (NHI): NHC faces a significant risk related to its long-term master lease agreement with National Health Investors, Inc. (NHI), a real estate investment trust that owns many of NHC's properties. There have been allegations of non-monetary defaults under this lease, and the upcoming expiration of the agreement introduces substantial uncertainty. Failure to resolve or renew the lease on acceptable terms could lead to a loss of facilities, significantly higher rent payments, substantial legal expenses, and operational disruptions, potentially affecting NHC's earnings and control over a portion of its operations.
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The accelerating trend of "aging in place" enabled by advancements in home healthcare technology, remote patient monitoring, and the proliferation of comprehensive in-home support services presents a clear emerging threat. This trend directly challenges National HealthCare Corporation's core business model, which heavily relies on facility-based care such as skilled nursing, assisted living, and independent living facilities. As technology and service models evolve to allow individuals to receive more extensive and sophisticated care within their own homes, demand for traditional institutional settings may decrease, akin to how streaming services disrupted physical media rentals or how smartphones impacted dedicated mobile communication devices.
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Addressable Markets for National Healthcare (NHC) - U.S. Region
The addressable markets for National Healthcare (NHC)'s main products and services in the U.S. region are as follows:
- Skilled Nursing Facilities: The U.S. skilled nursing facilities market was estimated at USD 199.72 billion in 2024 and is expected to reach USD 290.02 billion by 2033, growing at a Compound Annual Growth Rate (CAGR) of 4.39% from 2025 to 2033.
- Assisted Living Facilities: The U.S. assisted living facility market size was valued at USD 103.5 billion in 2024 and is predicted to reach USD 182.3 billion by 2034, with a CAGR of 5.9% during the forecast period from 2025 to 2034.
- Independent Living Facilities: The independent living segment, which includes active adult (55+) communities, constituted approximately 67.0% of the U.S. senior living market. With the overall U.S. senior living market estimated at USD 923.75 billion in 2023, the addressable market for independent living facilities was approximately USD 618.9 billion in 2023.
- Homecare Agencies: The U.S. home healthcare market size was estimated at USD 162.35 billion in 2024 and is expected to reach USD 381.40 billion by 2033, growing at a CAGR of 10.00% from 2025 to 2033.
- Hospice Agencies: The U.S. hospice market size was USD 30.25 billion in 2024 and is projected to reach approximately USD 47.52 billion by 2034, exhibiting a CAGR of 4.62% during the forecast period from 2025 to 2034.
- Behavioral Health Hospitals/Services: The U.S. behavioral health market size was calculated at USD 96.9 billion in 2025 and is expected to be worth USD 159.35 billion by 2035, expanding at a CAGR of 5.1% from 2024 to 2034.
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National HealthCare Corporation (NHC) is poised for future revenue growth over the next 2-3 years, driven by several key factors:
- Demographic Tailwinds: The company is expected to benefit from the increasing aging population, which drives sustained demand for its comprehensive senior healthcare services, including skilled nursing, assisted living, and independent living facilities.
- Strategic Acquisitions: NHC has demonstrated a strategy of expanding its operational footprint through strategic acquisitions. A significant example is the August 2024 acquisition of White Oak Management, Inc., which added 22 healthcare operations, including skilled nursing facilities, assisted living facilities, independent living facilities, and a long-term care pharmacy. This indicates a continued focus on growth through inorganic expansion.
- Same-Facility Revenue Growth (Organic Growth): NHC is achieving robust organic growth within its existing facilities. The company reported an 8.4% increase in same-facility net operating revenues in 2025, with quarterly figures showing even higher growth (e.g., 9.6% in Q2 2025 and 8.7% in Q3 2025). This growth is attributed to factors like increased patient days and improved operational efficiency.
- Expansion of Diversified Service Portfolio: The company's integrated care model, encompassing a broad suite of patient services, allows it to capture a wider range of patient needs. The push into specialized areas such as behavioral health is highlighted as a clear growth lever, further diversifying its revenue streams.
- Occupancy and Rate Expansions in Senior Housing Operating Properties (SHOP): Growth in NHC's Senior Housing Operating Properties (SHOP) portfolio is expected to be a significant driver. This segment has shown considerable growth through increased occupancy and rate expansions. In 2025, NHC's skilled nursing facilities operated at a high occupancy rate of 94.9%, significantly exceeding the industry average.
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Share Repurchases
- National HealthCare Corporation authorized a new stock repurchase program of up to $25 million in August 2022, replacing a previous program that expired in August 2020.
- In 2025, the company repurchased $14.7 million of its common shares as part of its share repurchase program.
Share Issuance
- National HealthCare Corporation issued new common stock worth $14.2 million in 2025.
Outbound Investments
- National HealthCare Corporation completed the acquisition of the White Oak Senior Living portfolio in August 2024 for approximately $221 million.
- The White Oak acquisition added 1,928 skilled nursing beds, 48 assisted living units, and 302 independent living units, along with a long-term care pharmacy.
- This acquisition allowed NHC to strategically move into North Carolina and expand its offerings in South Carolina.
Capital Expenditures
- National HealthCare Corporation's capital expenditures in the fourth quarter of 2025 totaled $10.4 million.
- Over the trailing twelve months leading up to Q4 2025, capital expenditures amounted to $34.20 million.
- Recent capital expenditure activities, including construction and acquisitions, have focused on expanding service offerings such as new hospice agencies in Virginia and Tennessee, new assisted living facilities in Florida, and the acquisition of White Oak Management, Inc.
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Peer Comparisons
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Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 122.46 |
| Mkt Cap | 5.5 |
| Rev LTM | 4,316 |
| Op Inc LTM | 279 |
| FCF LTM | 151 |
| FCF 3Y Avg | 117 |
| CFO LTM | 394 |
| CFO 3Y Avg | 282 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 12.3% |
| Rev Chg 3Y Avg | 13.0% |
| Rev Chg Q | 9.0% |
| QoQ Delta Rev Chg LTM | 2.2% |
| Op Inc Chg LTM | 25.8% |
| Op Inc Chg 3Y Avg | 23.8% |
| Op Mgn LTM | 8.9% |
| Op Mgn 3Y Avg | 7.9% |
| QoQ Delta Op Mgn LTM | 0.3% |
| CFO/Rev LTM | 11.0% |
| CFO/Rev 3Y Avg | 9.6% |
| FCF/Rev LTM | 5.4% |
| FCF/Rev 3Y Avg | 5.3% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Inpatient services | 1,317 | 1,113 | 957 | 912 | 932 |
| Homecare and hospice | 154 | 140 | 132 | 129 | 97 |
| All Other | 47 | 54 | 53 | 45 | 45 |
| Total | 1,518 | 1,307 | 1,142 | 1,086 | 1,074 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Inpatient services | 128 | 92 | 43 | 10 | 61 |
| Homecare and hospice | 30 | 26 | 24 | 22 | 19 |
| All Other | -29 | -28 | -10 | -0 | -30 |
| Total | 128 | 90 | 57 | 32 | 51 |
Price Behavior
| Market Price | $215.54 | |
| Market Cap ($ Bil) | 3.3 | |
| First Trading Date | 01/20/1987 | |
| Distance from 52W High | -6.7% | |
| 50 Days | 200 Days | |
| DMA Price | $207.74 | $165.35 |
| DMA Trend | up | up |
| Distance from DMA | 3.8% | 30.4% |
| 3M | 1YR | |
| Volatility | 35.2% | 33.7% |
| Downside Capture | -62.22 | -6.07 |
| Upside Capture | 9.02 | 84.86 |
| Correlation (SPY) | -1.3% | 14.8% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.14 | 0.11 | 0.31 | 0.31 | 0.48 | 0.58 |
| Up Beta | -0.84 | 0.03 | 0.54 | 0.16 | 0.81 | 0.62 |
| Down Beta | -0.34 | -0.21 | -0.01 | -0.10 | 0.04 | 0.41 |
| Up Capture | 111% | 97% | 96% | 97% | 104% | 66% |
| Bmk +ve Days | 11 | 22 | 35 | 67 | 138 | 427 |
| Stock +ve Days | 13 | 24 | 34 | 66 | 139 | 404 |
| Down Capture | 7% | -44% | -29% | -5% | 1% | 68% |
| Bmk -ve Days | 11 | 21 | 28 | 59 | 114 | 326 |
| Stock -ve Days | 9 | 19 | 28 | 59 | 112 | 346 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NHC | |
|---|---|---|---|---|
| NHC | 127.6% | 33.8% | 2.47 | - |
| Sector ETF (XLV) | 28.7% | 15.5% | 1.42 | 26.9% |
| Equity (SPY) | 23.3% | 12.8% | 1.36 | 14.1% |
| Gold (GLD) | 28.5% | 28.4% | 0.87 | 5.3% |
| Commodities (DBC) | 32.9% | 19.8% | 1.32 | -12.9% |
| Real Estate (VNQ) | 14.2% | 13.8% | 0.72 | 25.1% |
| Bitcoin (BTCUSD) | -43.7% | 43.0% | -1.21 | -1.2% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NHC | |
|---|---|---|---|---|
| NHC | 26.1% | 28.2% | 0.83 | - |
| Sector ETF (XLV) | 6.2% | 15.0% | 0.23 | 31.7% |
| Equity (SPY) | 13.5% | 17.2% | 0.61 | 31.3% |
| Gold (GLD) | 18.6% | 18.6% | 0.81 | 2.0% |
| Commodities (DBC) | 8.2% | 19.6% | 0.31 | 1.2% |
| Real Estate (VNQ) | 2.3% | 18.9% | 0.02 | 32.7% |
| Bitcoin (BTCUSD) | 9.0% | 53.0% | 0.36 | 11.0% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NHC | |
|---|---|---|---|---|
| NHC | 16.0% | 28.5% | 0.56 | - |
| Sector ETF (XLV) | 10.1% | 16.6% | 0.49 | 37.4% |
| Equity (SPY) | 15.4% | 17.9% | 0.73 | 38.0% |
| Gold (GLD) | 12.1% | 16.2% | 0.61 | 1.3% |
| Commodities (DBC) | 7.4% | 18.0% | 0.33 | 9.7% |
| Real Estate (VNQ) | 4.8% | 20.7% | 0.20 | 40.0% |
| Bitcoin (BTCUSD) | 58.4% | 66.2% | 0.98 | 10.5% |
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Returns Analyses
Earnings Returns History
Updated 6/11/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/8/2026 | 10.2% | 15.5% | 9.5% |
| 2/27/2026 | 2.1% | 4.9% | 0.9% |
| 11/7/2025 | 1.7% | 1.3% | 7.1% |
| 8/8/2025 | 4.1% | 10.3% | 20.2% |
| 5/9/2025 | 6.2% | 12.6% | 10.4% |
| 2/27/2025 | -0.2% | 0.6% | -0.3% |
| 11/12/2024 | -3.8% | -8.7% | -9.6% |
| 8/9/2024 | 1.4% | 6.9% | 0.0% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 18 | 19 | 16 |
| # Negative | 6 | 5 | 8 |
| Median Positive | 2.6% | 4.9% | 8.7% |
| Median Negative | -1.0% | -2.4% | -4.6% |
| Max Positive | 10.2% | 15.5% | 27.1% |
| Max Negative | -3.8% | -8.7% | -9.6% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/8/2026 | 10.2% | 15.5% | 9.5% |
| 2/27/2026 | 2.1% | 4.9% | 0.9% |
| 11/7/2025 | 1.7% | 1.3% | 7.1% |
| 8/8/2025 | 4.1% | 10.3% | 20.2% |
| 5/9/2025 | 6.2% | 12.6% | 10.4% |
| 2/27/2025 | -0.2% | 0.6% | -0.3% |
| 11/12/2024 | -3.8% | -8.7% | -9.6% |
| 8/9/2024 | 1.4% | 6.9% | 0.0% |
| 5/10/2024 | -1.1% | 3.4% | 6.5% |
| 2/16/2024 | 4.6% | 5.8% | -0.7% |
| 11/3/2023 | 4.4% | 3.9% | 27.1% |
| 8/4/2023 | 5.7% | 13.0% | 12.5% |
| 5/5/2023 | 2.3% | 5.0% | 10.1% |
| 2/17/2023 | 0.9% | -3.3% | -3.4% |
| 11/4/2022 | 2.1% | 1.8% | -0.1% |
| 8/5/2022 | 1.6% | 2.4% | 1.9% |
| 5/6/2022 | 1.9% | 1.5% | 2.6% |
| 2/22/2022 | -0.1% | -0.5% | 9.2% |
| 11/5/2021 | 7.4% | 3.3% | -7.0% |
| 8/6/2021 | -1.2% | -2.4% | -5.9% |
| 5/7/2021 | 1.0% | 4.0% | 5.7% |
| 2/19/2021 | 3.0% | 6.7% | 14.6% |
| 11/6/2020 | 6.6% | 10.9% | 8.2% |
| 8/7/2020 | -0.9% | -1.9% | -7.1% |
| SUMMARY STATS | |||
| # Positive | 18 | 19 | 16 |
| # Negative | 6 | 5 | 8 |
| Median Positive | 2.6% | 4.9% | 8.7% |
| Median Negative | -1.0% | -2.4% | -4.6% |
| Max Positive | 10.2% | 15.5% | 27.1% |
| Max Negative | -3.8% | -8.7% | -9.6% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/06/2026 | 10-Q |
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/28/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 02/16/2024 | 10-K |
| 09/30/2023 | 11/02/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 02/17/2023 | 10-K |
| 09/30/2022 | 11/03/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/06/2026 | 10-Q |
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/28/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 02/16/2024 | 10-K |
| 09/30/2023 | 11/02/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 02/17/2023 | 10-K |
| 09/30/2022 | 11/03/2022 | 10-Q |
| 06/30/2022 | 08/04/2022 | 10-Q |
| 03/31/2022 | 05/05/2022 | 10-Q |
| 12/31/2021 | 02/18/2022 | 10-K |
| 09/30/2021 | 11/04/2021 | 10-Q |
| 06/30/2021 | 08/05/2021 | 10-Q |
| 03/31/2021 | 05/06/2021 | 10-Q |
| 12/31/2020 | 02/19/2021 | 10-K |
| 09/30/2020 | 11/05/2020 | 10-Q |
| 06/30/2020 | 08/07/2020 | 10-Q |
| 03/31/2020 | 05/07/2020 | 10-Q |
| 12/31/2019 | 02/21/2020 | 10-K |
| 09/30/2019 | 11/05/2019 | 10-Q |
Insider Activity
Updated 6/23/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Hassan, Emil E | Direct | Sell | 6232026 | 200.00 | 5,937 | 1,187,400 | 13,119,000 | Form | |
| 2 | Hassan, Emil E | Direct | Sell | 6182026 | 199.97 | 1,563 | 312,561 | 14,304,612 | Form | |
| 3 | Piercey, Lisa | Direct | Buy | 6022026 | 184.26 | 949 | 174,859 | 174,859 | Form | |
| 4 | Laroche, Richard F JR | Direct | Sell | 5222026 | 195.14 | 7,500 | 1,463,566 | 40,152,438 | Form | |
| 5 | Shelly, Timothy J | Sr.VP Operations | Direct | Sell | 5202026 | 197.22 | 1,853 | 365,444 | 255,200 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Hassan, Emil E | Direct | Sell | 6232026 | 200.00 | 5,937 | 1,187,400 | 13,119,000 | Form | |
| 2 | Hassan, Emil E | Direct | Sell | 6182026 | 199.97 | 1,563 | 312,561 | 14,304,612 | Form | |
| 3 | Piercey, Lisa | Direct | Buy | 6022026 | 184.26 | 949 | 174,859 | 174,859 | Form | |
| 4 | Laroche, Richard F JR | Direct | Sell | 5222026 | 195.14 | 7,500 | 1,463,566 | 40,152,438 | Form | |
| 5 | Shelly, Timothy J | Sr.VP Operations | Direct | Sell | 5202026 | 197.22 | 1,853 | 365,444 | 255,200 | Form |
| 6 | Shelly, Timothy J | Sr.VP Operations | Direct | Sell | 12182025 | 139.42 | 2,454 | Form | ||
| 7 | Hassan, Emil E | Direct | Sell | 11262025 | 138.52 | 7,500 | 1,038,873 | 9,085,983 | Form | |
| 8 | Flatt, Stephen Fowler | CEO | Direct | Sell | 11252025 | 130.33 | 1,000 | 130,330 | 7,706,413 | Form |
| 9 | Hassan, Emil E | Direct | Sell | 11122025 | 133.00 | 5,500 | 731,500 | 9,721,635 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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