National Healthcare Corp. (NHC)
XASE:NHC
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National Healthcare
(NYSE MKT:NHC)
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Rating:76Outperform
Price Target:
$224.00
▲(63.29% Upside)
Action:Reiterated
Date:05/16/26
The score is driven primarily by strong financial performance (improving profitability, strong recent free cash flow, and very low leverage), partially offset by the sharp TTM revenue decline. Technicals are bullish but appear overextended, while valuation is fair with a modest dividend yield. Corporate events are a net positive given the ownership strategy and dividend raise, with some execution/approval risk.
Positive Factors
Conservative Balance Sheet
Very low leverage (debt-to-equity near 0.04 TTM) gives NHC durable financial flexibility: it can fund acquisitions, absorb reimbursement or demand shocks, keep interest expense low and preserve borrowing capacity for strategic investments over the next 2–6 months and beyond.
Negative Factors
Sharp TTM Revenue Decline
A 25.6% TTM revenue decline is a material structural concern: sustained lower census, payer shifts or reimbursement cuts could erode margins and free cash flow, undermine ROI on recent acquisitions and force operational adjustments, risking near-term profitability durability.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative Balance Sheet
Very low leverage (debt-to-equity near 0.04 TTM) gives NHC durable financial flexibility: it can fund acquisitions, absorb reimbursement or demand shocks, keep interest expense low and preserve borrowing capacity for strategic investments over the next 2–6 months and beyond.
Read all positive factors
National Healthcare (NHC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.06B
Dividend Yield1.8%
Average Volume (3M)80.31K
Price to Earnings (P/E)17.3
Beta (1Y)0.57
Revenue Growth11.40%
EPS Growth13.96%
CountryUS
Employees14,962
SectorHealthcare
Sector Strength45
IndustryMedical - Care Facilities
Share Statistics
EPS (TTM)7.98
Shares Outstanding15,619,641
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 Cap0.98
Enterprise Value/Revenue1.97
Enterprise Value/Gross Profit5.28
Enterprise Value/Ebitda14.02
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 operates, manages, and provides services to skilled nursing facilities, assisted living facilities, independent living facilities, homecare and hospice agencies, and a behavioral health hospital. Its skilled nursing...
How the Company Makes Money
NHC generates revenue primarily by providing patient care and residential services across its healthcare and senior living operations, and by earning fees for managing facilities it does not own.
1) Skilled nursing and post-acute care patient rev...
National Healthcare Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
86
Very Positive
Cash Flow
78
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.52B | 1.51B | 1.30B | 1.14B | 1.07B | 1.01B |
| Gross Profit | 567.07M | 1.02B | 487.01M | 429.20M | 388.11M | 344.88M |
| EBITDA | 213.62M | 213.72M | 182.53M | 131.10M | 68.28M | 191.56M |
| Net Income | 123.67M | 120.02M | 101.93M | 66.80M | 22.45M | 138.59M |
Balance Sheet | ||||||
| Total Assets | 1.52B | 1.53B | 1.52B | 1.31B | 1.28B | 1.40B |
| Cash, Cash Equivalents and Short-Term Investments | 311.57M | 309.18M | 216.19M | 223.62M | 182.59M | 256.02M |
| Total Debt | 39.31M | 87.07M | 214.77M | 93.39M | 125.94M | 166.66M |
| Total Liabilities | 427.48M | 451.90M | 541.27M | 400.32M | 397.94M | 494.94M |
| Stockholders Equity | 1.09B | 1.07B | 980.16M | 908.75M | 874.28M | 903.00M |
Cash Flow | ||||||
| Free Cash Flow | 168.41M | 148.63M | 79.70M | 83.31M | -21.46M | 23.00M |
| Operating Cash Flow | 208.36M | 185.08M | 107.30M | 111.22M | 8.74M | 62.39M |
| Investing Cash Flow | -40.75M | -33.86M | -236.69M | -17.57M | -5.98M | -65.89M |
| Financing Cash Flow | -177.44M | -135.96M | 100.34M | -42.55M | -47.64M | -35.26M |
National Healthcare Technical Analysis
Positive
137.18
Price Trends
172.85
Positive
161.82
Positive
142.04
Positive
Market Momentum
7.16
Negative
57.04
Neutral
47.59
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 137.18 is below the 20-day moving average (MA) of 185.23, below the 50-day MA of 172.85, and below the 200-day MA of 142.04, indicating a bullish trend. The MACD of 7.16 indicates Negative momentum. The RSI at 57.04 is Neutral, neither overbought nor oversold. The STOCH value of 47.59 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 |
|---|---|---|---|---|---|---|---|
77 Outperform | $1.73B | 17.26 | 9.34% | ― | 19.55% | 21.54% | |
76 Outperform | $3.06B | 17.30 | 11.68% | 1.80% | 11.40% | 13.96% | |
71 Outperform | $1.60B | 8.22 | 241.47% | ― | 20.49% | 4335.46% | |
62 Neutral | $2.05B | 11.43 | 7.83% | 1.69% | -10.76% | -20.86% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | $2.13B | 128.96 | -43.82% | ― | 6.80% | -698.20% | |
47 Neutral | $3.18B | -118.16 | 9999.00% | ― | -0.36% | 16.69% |
* Healthcare Sector Average
NHC
National Healthcare
190.00
87.59
85.54%
ACHC
Acadia Healthcare
23.49
-0.03
-0.13%
ADUS
Addus Homecare
93.18
-22.45
-19.42%
BKD
Brookdale Senior Living
13.48
6.89
104.55%
SEM
Select Medical
16.54
1.89
12.92%
AVAH
Aveanna Healthcare Holdings
7.28
1.83
33.58%
National Healthcare Corporate Events
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...
Business Operations and StrategyM&A Transactions
National Healthcare Advances Ownership Strategy With Major Acquisition
Positive
Apr 22, 2026
On April 21, 2026, National HealthCare Corporation said a subsidiary entered into a $560 million agreement to buy from National Health Investors the real estate of 32 skilled nursing facilities and three independent living facilities that it curre...
Business Operations and StrategyExecutive/Board Changes
National Healthcare Expands Board With Two New Directors
Positive
Feb 17, 2026
National HealthCare Corporation announced on February 17, 2026, that its Board of Directors unanimously expanded from seven to nine members effective February 12, 2026, appointing geriatrician and former AHCA/NCAL executive Dr. David Gifford and l...
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.