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National Healthcare
(NHC)
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Rating:72Outperform
Price Target:
$244.00
▲(8.11% Upside)
Action:Reiterated
Date:08/07/26
The score is led by strong financial performance—meaningfully improved margins and a historically conservative balance sheet—partly offset by mixed near-term technical signals and a relatively expensive valuation (P/E 28.3 with a modest ~1.15% yield). Corporate actions add a positive strategic tilt (acquisitions and dividend raise) but introduce incremental financing and integration risk.
Positive Factors
Conservative balance sheet
Very low leverage and rising equity provide durable financial flexibility. A conservative balance sheet reduces refinancing and solvency risk, supports dividends and M&A funding capacity, and cushions the company against reimbursement shocks over the next several quarters.
Negative Factors
Large acquisition-driven debt drawdown
Material new term debt meaningfully increases leverage versus prior conservative levels. Higher debt load raises interest expense and covenant exposure, reducing financial flexibility and elevating refinancing and integration risk through the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Very low leverage and rising equity provide durable financial flexibility. A conservative balance sheet reduces refinancing and solvency risk, supports dividends and M&A funding capacity, and cushions the company against reimbursement shocks over the next several quarters.
Read all positive factors
National Healthcare (NHC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.38B
Dividend Yield1.17%
Average Volume (3M)80.31K
Price to Earnings (P/E)24.5
Beta (1Y)0.44
Revenue Growth7.19%
EPS Growth32.91%
CountryUS
Employees15,278
SectorHealthcare
Sector Strength45
IndustryMedical - Care Facilities
Share Statistics
EPS (TTM)9.03
Shares Outstanding15,661,395
10 Day Avg. Volume111,270
30 Day Avg. Volume80,310
Financial Highlights & Ratios
PEG Ratio1.03
Price to Book (P/B)1.98
Price to Sales (P/S)1.40
P/FCF Ratio14.27
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
National Healthcare Business Overview & Revenue Model
Company Description
National HealthCare Corporation (NHC) is a prominent provider in the healthcare sector, involved in the operation, management, and service provision for a wide array of elder care and health facilities. Its diverse portfolio includes skilled nursi...
How the Company Makes Money
NHC primarily makes money by providing and managing senior care and post-acute healthcare services and collecting reimbursement and private-pay fees for those services.
1) Patient/resident care revenue (core operating revenue)
- Skilled nursing (...
National Healthcare Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
90
Very Positive
Cash Flow
74
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.56B | 1.52B | 1.30B | 1.14B | 1.07B | 1.01B |
| Gross Profit | 615.63M | 596.70M | 487.01M | 429.20M | 388.11M | 344.88M |
| EBITDA | 233.63M | 213.72M | 182.53M | 131.10M | 68.28M | 191.56M |
| Net Income | 140.26M | 120.02M | 101.93M | 66.80M | 22.45M | 138.59M |
Balance Sheet | ||||||
| Total Assets | 1.54B | 1.53B | 1.52B | 1.31B | 1.28B | 1.40B |
| Cash, Cash Equivalents and Short-Term Investments | 265.88M | 309.18M | 216.19M | 223.62M | 182.59M | 256.02M |
| Total Debt | 31.41M | 87.07M | 214.77M | 93.39M | 125.94M | 166.66M |
| Total Liabilities | 408.87M | 451.90M | 541.27M | 400.32M | 397.94M | 494.94M |
| Stockholders Equity | 1.12B | 1.07B | 980.16M | 908.75M | 874.28M | 903.00M |
Cash Flow | ||||||
| Free Cash Flow | 146.53M | 148.63M | 79.70M | 83.31M | -21.46M | 23.00M |
| Operating Cash Flow | 188.81M | 185.08M | 107.30M | 111.22M | 8.74M | 62.39M |
| Investing Cash Flow | -112.51M | -33.86M | -236.69M | -17.57M | -5.98M | -65.89M |
| Financing Cash Flow | -154.38M | -135.96M | 100.34M | -42.55M | -47.64M | -35.26M |
National Healthcare Technical Analysis
Positive
225.69
Price Trends
208.48
Positive
190.89
Positive
165.86
Positive
Market Momentum
2.69
Positive
53.05
Neutral
53.25
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NHC, the sentiment is Positive. The current price of 225.69 is above the 20-day moving average (MA) of 221.96, above the 50-day MA of 208.48, and above the 200-day MA of 165.86, indicating a neutral trend. The MACD of 2.69 indicates Positive momentum. The RSI at 53.05 is Neutral, neither overbought nor oversold. The STOCH value of 53.25 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for NHC.
National Healthcare Risk Analysis
National Healthcare disclosed 32 risk factors in its most recent earnings report. National Healthcare reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
National Healthcare Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
83 Outperform | $2.23B | 21.01 | 9.57% | ― | 15.88% | 25.01% | |
72 Outperform | $3.38B | 24.48 | 12.94% | 1.15% | 7.19% | 32.91% | |
69 Neutral | $2.07B | 7.46 | 241.47% | ― | 20.49% | 4335.46% | |
52 Neutral | $3.40B | -23.65 | 9999.00% | ― | -0.36% | 16.69% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | $2.94B | -2.55 | -50.02% | ― | 4.27% | -917.61% |
* Healthcare Sector Average
NHC
National Healthcare
221.04
119.36
117.39%
ACHC
Acadia Healthcare
31.78
12.71
66.65%
ADUS
Addus Homecare
119.34
7.39
6.60%
BKD
Brookdale Senior Living
13.69
6.47
89.61%
AVAH
Aveanna Healthcare Holdings
9.46
2.63
38.51%
National Healthcare Corporate Events
Business Operations and StrategyM&A TransactionsPrivate Placements and Financing
National Healthcare Expands Credit Facility to Fund Acquisition
Positive
Jul 1, 2026
On June 29, 2026, National Healthcare Corporation amended its credit agreement, increasing its senior unsecured revolving credit facility from $50 million to $75 million while leaving other terms unchanged, and simultaneously terminated an older 2...
Business Operations and StrategyM&A TransactionsPrivate Placements and Financing
National Healthcare Secures New Credit Facility for Acquisition
Positive
May 27, 2026
On May 26, 2026, National HealthCare Corporation entered into a new unsecured Credit Agreement providing a $475 million term loan and a $50 million revolving credit facility arranged by Bank of America and other lenders. The facilities, which matu...
Business Operations and StrategyM&A Transactions
National Healthcare to Acquire Five Skilled Nursing Facilities
Positive
May 15, 2026
On May 14, 2026, National HealthCare Corporation’s subsidiary NHC/OP, L.P. agreed to purchase the land, buildings and related assets of a portfolio of five skilled nursing facilities, four in Tennessee and one in South Carolina, from Nationa...
Executive/Board ChangesShareholder Meetings
National HealthCare Shareholders Back Board and Executive Pay
Positive
May 13, 2026
National HealthCare Corporation held its Annual Meeting of Shareholders on May 7, 2026, with 12,216,578 of 15,599,046 eligible common shares represented in person or by proxy, establishing a quorum for voting. Shareholders re-elected directors Emi...
DividendsFinancial Disclosures
National Healthcare Raises Quarterly Dividend, Signals Financial Strength
Positive
May 7, 2026
National HealthCare Corporation announced on May 7, 2026, that it will pay a quarterly dividend of $0.67 per common share, to shareholders of record on June 30, 2026, with payment scheduled for July 31, 2026. The move represents a 4.7% increase ov...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.