National Healthcare Corp. (NHC)
XASE:NHC
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National Healthcare
(NYSE MKT:NHC)
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Rating:78Outperform
Price Target:
$198.00
▲(44.34% Upside)
Action:ReiteratedDate:04/23/26
The score is driven primarily by strong financial performance (improving profitability, solid free cash flow, and very low leverage) and supportive technicals (clear uptrend with positive momentum). Offsetting factors include modest valuation support (average P/E with a modest yield), recent revenue contraction in 2025, and execution risk around the large real-estate acquisition.
Positive Factors
Cash generation
NHC's strong operating cash flow and elevated free cash flow in 2025 demonstrate durable internal funding capacity. High cash conversion versus net income supports consistent dividends, capital spending, and strategic investments without heavy reliance on external financing, improving resilience to sector headwinds.
Negative Factors
Revenue weakness & payer exposure
A return to negative revenue growth highlights sensitivity to occupancy, payer mix, and reimbursement changes. Heavy exposure to Medicare/Medicaid and local demand cycles can structurally pressure top-line trends and constrain margin expansion absent sustained census or favorable reimbursement shifts.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation
NHC's strong operating cash flow and elevated free cash flow in 2025 demonstrate durable internal funding capacity. High cash conversion versus net income supports consistent dividends, capital spending, and strategic investments without heavy reliance on external financing, improving resilience to sector headwinds.
Read all positive factors
National Healthcare (NHC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.66B
Dividend Yield1.8%
Average Volume (3M)80.31K
Price to Earnings (P/E)21.3
Beta (1Y)0.57
Revenue Growth17.53%
EPS Growth17.13%
CountryUS
Employees14,962
SectorHealthcare
Sector Strength45
IndustryMedical - Care Facilities
Share Statistics
EPS (TTM)7.76
Shares Outstanding15,599,046
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 Cap0.97
Enterprise Value/Revenue1.70
Enterprise Value/Gross Profit3.67
Enterprise Value/Ebitda11.59
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
85
Very Positive
Cash Flow
78
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.51B | 1.30B | 1.14B | 1.07B | 1.01B |
| Gross Profit | 1.02B | 487.01M | 429.20M | 388.11M | 344.88M |
| EBITDA | 213.72M | 182.53M | 131.10M | 68.28M | 191.56M |
| Net Income | 120.02M | 101.93M | 66.80M | 22.45M | 138.59M |
Balance Sheet | |||||
| Total Assets | 1.53B | 1.52B | 1.31B | 1.28B | 1.40B |
| Cash, Cash Equivalents and Short-Term Investments | 309.18M | 216.19M | 223.62M | 182.59M | 256.02M |
| Total Debt | 87.07M | 214.77M | 93.39M | 125.94M | 166.66M |
| Total Liabilities | 451.90M | 541.27M | 400.32M | 397.94M | 494.94M |
| Stockholders Equity | 1.07B | 980.16M | 908.75M | 874.28M | 903.00M |
Cash Flow | |||||
| Free Cash Flow | 148.63M | 79.70M | 83.31M | -21.46M | 23.00M |
| Operating Cash Flow | 185.08M | 107.30M | 111.22M | 8.74M | 62.39M |
| Investing Cash Flow | -33.86M | -236.69M | -17.57M | -5.98M | -65.89M |
| Financing Cash Flow | -135.96M | 100.34M | -42.55M | -47.64M | -35.26M |
National Healthcare Technical Analysis
Positive
137.18
Price Trends
162.76
Positive
149.99
Positive
131.10
Positive
Market Momentum
1.56
Positive
55.42
Neutral
32.36
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 163.84, below the 50-day MA of 162.76, and above the 200-day MA of 131.10, indicating a bullish trend. The MACD of 1.56 indicates Positive momentum. The RSI at 55.42 is Neutral, neither overbought nor oversold. The STOCH value of 32.36 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 |
|---|---|---|---|---|---|---|---|
78 Outperform | $1.87B | 17.26 | 9.34% | ― | 19.55% | ― | |
78 Outperform | $2.66B | 21.34 | 11.57% | 1.80% | 17.53% | 17.13% | |
62 Neutral | $2.04B | 11.43 | 8.62% | 1.69% | -10.76% | -20.86% | |
55 Neutral | $2.55B | 128.96 | -43.82% | ― | 6.80% | -698.20% | |
53 Neutral | $3.33B | -15.82 | -523.78% | ― | 2.19% | -26.04% | |
53 Neutral | $1.44B | 2.30 | 953.09% | ― | 20.19% | ― | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
NHC
National Healthcare
170.61
76.81
81.89%
ACHC
Acadia Healthcare
27.69
3.52
14.59%
ADUS
Addus Homecare
100.12
-12.17
-10.84%
BKD
Brookdale Senior Living
14.02
7.41
112.10%
SEM
Select Medical
16.44
1.69
11.46%
AVAH
Aveanna Healthcare Holdings
6.63
1.81
37.55%
National Healthcare Corporate Events
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...
Dividends
National HealthCare Declares Quarterly Cash Dividend to Shareholders
Positive
Feb 13, 2026
On February 13, 2026, National HealthCare Corporation announced a quarterly cash dividend of $0.64 per common share, reinforcing its pattern of returning capital to shareholders. The dividend will be paid on April 30, 2026, to shareholders of reco...
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.