National Healthcare Corp (NHC) Financial Statements
Industry: Skilled Nursing Care Facilities (Services)
In fiscal 2025, National Healthcare reported revenue of $1.52B, up 16.1% from $1.31B the year before. Net income was $120.0M (a 7.9% net margin), or $7.67 per diluted share. Gross margin was 8.5% and operating margin was 8.5%. Operating activities generated $185.1M of cash, leaving $148.6M of free cash flow. At fiscal year end, National Healthcare held $1.53B in total assets against $451.9M in total liabilities, including $92.8M of cash and equivalents.
Open the full interactive National Healthcare financials → Quarterly statements, key ratios, valuation history and price charts.
National Healthcare Key Stats
| Share Price | $231.39 |
|---|---|
| Market Cap | $3.67B |
| P/E Ratio | 30.2 |
| Revenue YoY Growth | +16.1% |
| 52-Week Range | $117.68 – $236.04 |
| Shares Outstanding | 15.6 million (basic, 2026 Q2) |
National Healthcare Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $1.03B | $1.07B | $1.09B | $1.14B | $1.31B | $1.52B |
| Cost of Goods Sold | $980.1M | $1.02B | $1.05B | $1.08B | $1.22B | $1.39B |
| Gross Profit | $48.2M | $50.9M | $31.9M | $57.1M | $85.8M | $128.4M |
| Operating Income | $48.2M | $50.9M | $31.9M | $57.1M | $85.8M | $128.4M |
| Pre-Tax Income | $52.3M | $149.5M | $29.7M | $90.2M | $136.4M | $162.4M |
| Income Tax | $10.4M | $11.0M | $7.3M | $23.4M | $34.3M | $39.8M |
| Net Income | $41.9M | $138.6M | $22.4M | $66.8M | $101.9M | $120.0M |
| Diluted EPS | $2.72 | $8.99 | $1.45 | $4.34 | $6.53 | $7.67 |
National Healthcare Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $382.7M | $386.5M | $381.8M | $408.0M |
| Net Income | $39.2M | $24.8M | $35.9M | $40.3M |
| Diluted EPS | $2.50 | $1.59 | $2.27 | $2.54 |
National Healthcare Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $147.1M | $107.6M | $58.7M | $107.1M | $76.1M | $92.8M |
| Current Assets | $456.8M | $426.6M | $353.9M | $406.2M | $424.4M | $461.8M |
| Total Assets | $1.36B | $1.40B | $1.28B | $1.31B | $1.52B | $1.53B |
| Current Liabilities | $281.2M | $263.2M | $197.9M | $214.5M | $234.8M | $253.6M |
| Total Long-Term Debt | — | — | — | — | $137.0M | $40.0M |
| Total Liabilities | $563.9M | $494.9M | $397.9M | $400.3M | $541.3M | $451.9M |
| Shareholders' Equity | $795.2M | $903.0M | $874.3M | $908.8M | $980.2M | $1.07B |
National Healthcare Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $203.3M | $62.4M | $8.7M | $111.2M | $107.3M | $185.1M |
| Cash From Investing | -$63.9M | -$65.9M | -$6.0M | -$17.6M | -$236.7M | -$33.9M |
| Cash From Financing | -$41.9M | -$35.3M | -$47.6M | -$42.5M | $100.3M | -$136.0M |
| Free Cash Flow | $181.4M | $23.0M | -$21.5M | $83.3M | $79.7M | $148.6M |
Figures from National Healthcare's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full National Healthcare financials page for every line item.
National Healthcare Company Profile
| Ticker | NHC |
|---|---|
| Exchange | NYSE |
| Industry | Skilled Nursing Care Facilities (Services) |
| Headquarters | Murfreesboro, Tennessee |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0001047335 |
Frequently Asked Questions
What was National Healthcare's revenue in fiscal 2025?
National Healthcare (NHC) reported revenue of $1.52B for fiscal 2025.
What is National Healthcare's annual revenue history?
National Healthcare's annual revenue by fiscal year: 2020: $1.03B; 2021: $1.07B; 2022: $1.09B; 2023: $1.14B; 2024: $1.31B; 2025: $1.52B.
What was National Healthcare's net income in fiscal 2025?
National Healthcare reported net income of $120.0M for fiscal 2025.
What was National Healthcare's earnings per share (EPS) in fiscal 2025?
National Healthcare's diluted EPS was $7.67 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did National Healthcare generate in fiscal 2025?
National Healthcare generated $148.6M of free cash flow in fiscal 2025.
What was National Healthcare's revenue last quarter?
In its most recent reported quarter (2026 Q2), National Healthcare reported revenue of $408.0M.
How much debt does National Healthcare have?
National Healthcare reported $40.0M of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of National Healthcare are outstanding?
National Healthcare reported a weighted average of 15.6 million basic shares outstanding in 2026 Q2.
What is National Healthcare's market cap?
Based on its latest closing price, National Healthcare (NHC) has a market capitalization of about $3.67B.
When does National Healthcare's fiscal year end?
National Healthcare's fiscal year end, as registered with the SEC, is December 31.
Where is National Healthcare headquartered?
National Healthcare lists its business address in Murfreesboro, Tennessee in its SEC filings.
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