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National Healthcare Corp. (NHC)

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National Healthcare Corp. (NHC) reported revenue of $408 million for Q2 FY2026, the quarter ended 30 June 2026, up 8.8% on the same quarter a year earlier. Net income was $40 million, up 70.0% on the year, and diluted earnings per share $2.54. The figures are the company's own, from the 10-Q it filed with the SEC on 6 August 2026.

Revenue$408 millionup 8.8%
Net income$40 millionup 70.0%
Diluted EPS$2.54
QuarterQ2 FY2026ended 30 June 2026

National Healthcare (NHC) in brief

National Healthcare (NHC) reported revenue of $1.5 billion for fiscal 2025, the year ended 31 December 2025, up 16.1% on the year before.
Read moreNet income was $120 million and diluted earnings per share $7.67. Revenue was $1.3 billion in fiscal 2024, $1.1 billion in fiscal 2023, $1.1 billion in fiscal 2022 and $1.1 billion in fiscal 2021. Net income in the same years was $102 million, $67 million, $22 million and $139 million. Over the twelve months to 30 June 2026, National Healthcare reported revenue of $1.6 billion and net income of $140 million. Revenue grew 8.1% a year, compounded, over the five years to fiscal 2025. National Healthcare declared $2.53 a share in dividends over the last four quarters and had 16 million shares outstanding at the latest filed count. At 30 June 2026 it carried $0 million of debt and $39 million of cash. At the close of 9 October 2026 the market cap of National Healthcare was $3.6 billion, 25.5 times its earnings over the last twelve months.

Ratios

From the filings

ROE12.5%
ROCE12.9%
Operating margin9.3%
Net margin9.0%
FCF margin9.4%
Interest cover56.65
Debt to equity0.00
Cash conversion1.35
Share count, 1 year1.0%
Sales CAGR, 3 years11.8%
Profit CAGR, 3 years74.9%
EPS, TTM$8.89

At the close of 9 October 2026

Price$226.84
Market cap$3.6 billion
Stock P/E25.52
Price to book3.17
EV / EBITDA18.45
Dividend yield1.1%
Market cap / sales2.28
52-week high$236.75
52-week low$117.43
Price, 1 year90.8%
Price CAGR, 3 years49.7%
Price CAGR, 5 years27.3%
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on long-term debt as National Healthcare Corp. files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.
NHCgreeksoup.ai
Daily prices to 9 October 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on NHC

Filings21 in twelve months: 15 current reports (8-K), about 4 other events; 4 results of operations; 4 material agreement; 4 regulation FD disclosure; 3 termination of a material agreement
Planned insider sales2 Form 144 notices in twelve months, $2.1 million; latest 10 September 2026
Options tapeput/call 0.41 by open interest at the 9 October 2026 close; the straddle prices a 3.4% move to 16 October 2026
13F holders5 of the followed funds hold it; largest Geode Capital Management; 5 Schedule 13D or 13G filings in twelve months
Insider trading23 sales and 1 purchase on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest817,160 shares short, 6.15 days to cover at 30 September 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024 †Q2 FY2024Q3 FY2024 †Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue288301297301340369374375383387382408
Operating income13.020.115.722.522.826.630.834.130.433.132.348.9
Operating margin5%7%5%7%7%7%8%9%8%9%8%12%
Interest expense0.10.10.00.01.72.32.12.01.50.80.30.0
Pre-tax income14.0n/a35.736.658.06.143.732.254.432.144.854.0
Tax rate28%n/a26%26%26%0%26%25%25%22%19%25%
Net income10.428.426.226.842.86.132.223.739.224.835.940.3
Net margin4%9%9%9%13%2%9%6%10%6%9%10%
Diluted EPS$0.68$1.83$1.69$1.73$2.73$0.39$2.07$1.52$2.50$1.58$2.27$2.54
Operating cash flow32.325.79.650.734.212.839.362.866.216.862.543.3
Capital expenditure6.58.66.07.85.78.26.110.29.710.49.612.5
Free cash flow25.817.13.742.828.64.633.152.656.56.452.930.7
Buybacks0.00.09.91.52.10.01.74.73.25.216.37.2
Dividends paid9.09.09.19.19.49.49.49.49.99.99.910.0
Shares outstanding15m15m15m15m15m15m15m15m16m16m16m16m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss), 10 fiscal years and the trailing twelve months

FY2016 †FY2017 †FY2018FY2019FY2020FY2021FY2022FY2023 †FY2024 †FY2025TTM
Revenue9249649809961,0281,0741,0861,1421,3071,5181,559
Operating income60.554.156.149.048.250.931.957.589.9128145
Operating margin6.6%5.6%5.7%4.9%4.7%4.7%2.9%5.0%6.9%8.5%9.3%
Interest expense3.94.94.73.11.40.80.60.34.16.42.6
Pre-tax incomen/an/an/an/an/an/a27.288.7136162185
Income tax29.718.916.220.010.411.07.323.434.339.842.5
Effective tax raten/an/an/an/an/an/a26.6%26.4%25.2%24.5%22.9%
Net income50.556.259.068.241.913922.466.8102120140
Net margin5.5%5.8%6.0%6.8%4.1%12.9%2.1%5.9%7.8%7.9%9.0%
Diluted EPS$3.32$3.69$3.87$4.44$2.72$8.99$1.45$4.34$6.53$7.67$8.89
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

FY2016 †FY2017 †FY2018FY2019FY2020FY2021FY2022FY2023 †FY2024 †FY2025TTM
Operating cash flow90.994.598.410020362.48.7111107185189
Capital expenditure62.632.329.826.421.939.430.227.927.636.442.3
Free cash flow28.362.168.773.718123.0-21.583.379.7149147
Free cash flow margin3.1%6.4%7.0%7.4%17.6%2.1%-2.0%7.3%6.1%9.8%9.4%
Cash from investing-81.5-9.6-33.7-14.3-63.9-65.9-6.0-17.6-237-33.9-113
Cash from financing-27.1-49.1-77.3-79.7-41.9-35.3-47.6-42.5100-136-154
Depreciation and amortisation39.042.741.942.442.040.740.542.042.044.945.7
Share-based compensation0.51.71.81.92.52.62.62.84.24.45.4
Buybacks8.20.00.90.90.10.89.92.513.514.731.9
Dividends paid25.828.229.831.231.932.034.635.637.038.739.8
Dividend per share$1.75$1.89$1.98$2.06$2.08$2.11$2.26$2.34$2.42$2.53n/a
Diluted shares, weighted15m15m15m15m15m15m15m15m16m16m16m
Shares outstanding at period end15m15m15m15m15m15m15m15m15m16m16m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2016 †FY2017 †FY2018FY2019FY2020FY2021FY2022FY2023 †FY2024 †FY2025TTM
Funded by
Shareholders' equity6707037337797959038749099801,0691,122
Non-controlling interestn/a0.71.20.53.15.53.21.73.05.75.8
Debt12010055.010.0n/an/a0.00.013740.00.0
Operating lease liabilitiesn/an/a0.017915412991.063.245.913.513.1
Finance lease liabilitiesn/an/a19.115.010.55.80.90.0n/an/an/a
Other liabilities298293272304400361306337358398396
Total liabilities and equity1,0871,0971,0811,2871,3621,4031,2751,3111,5241,5261,537
Owned
Fixed assets560549535535520521507493684674727
Goodwill17.617.621.021.021.3168168168170170170
Intangible assetsn/an/an/an/a0.07.07.07.019.919.920.4
Investments138284294279n/an/an/an/an/an/an/a
Securities held for sale or to maturityn/an/an/an/a190172143128120123119
Cash and equivalents26.359.143.250.314710858.710776.192.839.2
Receivables82.586.897.393.089.796.1100.0109135139138
Inventory7.57.27.57.48.88.67.17.49.07.88.5
Other assets25692.183.2300385323285291310299315
Total assets1,0871,0971,0811,2871,3621,4031,2751,3111,5241,5261,537
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compoundedn/a8.1%11.8%6.9%
Profit growth, compoundedn/a23.4%74.9%33.8%
Return on equity, average8.5%9.4%9.7%11.2%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

What was National Healthcare's revenue in fiscal 2025?

National Healthcare (NHC) reported revenue of $1.5 billion for fiscal 2025, the year ended 31 December 2025, up 16.1% on the year before.

How much did National Healthcare earn in fiscal 2025?

Net income was $120 million for fiscal 2025, and diluted earnings per share $7.67.

What is National Healthcare's P/E ratio?

At the close of 9 October 2026, National Healthcare traded at 25.5 times its earnings over the twelve months to 30 June 2026.

What is National Healthcare's market cap?

The market cap of National Healthcare was $3.6 billion at the close of 9 October 2026.

Does National Healthcare pay a dividend?

Yes. National Healthcare declared $2.53 a share in dividends over the four quarters to 30 June 2026.

Peers: Healthcare

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Ensign Group, Inc. ENSG$10.0 billion26.9215.5%8.5%18.9%0.060.1%
Sotera Health Co. SHC$5.2 billion31.6824.6%n/a8.1%3.21n/a
LifeStance Health Group, Inc. LFST$4.7 billion95.623.4%4.9%20.4%0.19n/a
Concentra Group Holdings Parent, Inc. CON$4.7 billion23.9841.7%16.4%14.0%3.270.7%
Option Care Health, Inc. OPCH$4.7 billion23.3716.6%5.9%5.9%0.92n/a
Veracyte, Inc. VCYT$3.6 billion32.088.2%18.8%17.3%0.00n/a
National Healthcare Corp. NHC$3.6 billion25.5212.5%9.3%6.9%0.001.1%
Acadia Healthcare Company, Inc. ACHC$2.7 billionn/a-56.9%-32.6%4.3%1.22n/a
Privia Health Group, Inc. PRVA$2.6 billion99.293.6%1.9%24.1%0.00n/a
Pediatrix Medical Group, Inc. MD$2.2 billion12.7519.8%11.0%0.5%0.45n/a
Progyny, Inc. PGNY$2.2 billion30.3717.3%8.6%5.5%0.00n/a
Addus HomeCare Corp. ADUS$2.1 billion20.059.2%10.0%15.9%0.05n/a
All 26 in Healthcare
CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
HCA Healthcare, Inc. HCA$98.3 billion15.10n/a12.7%7.3%n/a0.7%
Quest Diagnostics Inc. DGX$25.5 billion24.5414.1%14.1%9.9%0.751.4%
Labcorp Holdings Inc. LH$25.3 billion25.8311.6%10.4%6.4%0.680.9%
Tenet Healthcare Corp. THC$21.2 billion10.1748.1%20.8%5.4%2.81n/a
BrightSpring Health Services, Inc. BTSG$12.6 billionn/an/an/an/a1.07n/a
Encompass Health Corp. EHC$12.2 billion20.0723.9%18.0%9.5%1.000.6%
Davita Inc. DVA$11.5 billion14.67n/a15.2%6.4%n/an/a
Universal Health Services Inc. UHS$10.6 billion7.2320.3%11.4%10.0%0.650.5%
Ensign Group, Inc. ENSG$10.0 billion26.9215.5%8.5%18.9%0.060.1%
Hims & Hers Health, Inc. HIMS$7.2 billionn/a-43.8%-6.0%28.0%4.21n/a
Chemed Corp. CHE$6.5 billion25.0833.1%13.5%3.3%0.170.4%
Sotera Health Co. SHC$5.2 billion31.6824.6%n/a8.1%3.21n/a
LifeStance Health Group, Inc. LFST$4.7 billion95.623.4%4.9%20.4%0.19n/a
Concentra Group Holdings Parent, Inc. CON$4.7 billion23.9841.7%16.4%14.0%3.270.7%
Option Care Health, Inc. OPCH$4.7 billion23.3716.6%5.9%5.9%0.92n/a
Veracyte, Inc. VCYT$3.6 billion32.088.2%18.8%17.3%0.00n/a
National Healthcare Corp. NHC$3.6 billion25.5212.5%9.3%6.9%0.001.1%
Acadia Healthcare Company, Inc. ACHC$2.7 billionn/a-56.9%-32.6%4.3%1.22n/a
Privia Health Group, Inc. PRVA$2.6 billion99.293.6%1.9%24.1%0.00n/a
Pediatrix Medical Group, Inc. MD$2.2 billion12.7519.8%11.0%0.5%0.45n/a
Progyny, Inc. PGNY$2.2 billion30.3717.3%8.6%5.5%0.00n/a
Addus HomeCare Corp. ADUS$2.1 billion20.059.2%10.0%15.9%0.05n/a
Fortrea Holdings Inc. FTRE$2.0 billionn/a-16.3%-0.4%-2.1%1.98n/a
Healthcare Services Group Inc. HCSG$1.4 billion11.9723.7%n/a5.2%0.004.2%
U S Physical Therapy Inc. USPH$1.3 billion95.877.2%9.4%11.3%0.492.1%
AdaptHealth Corp. AHCO$829 millionn/a-16.6%-4.5%-0.4%1.37n/a
1 company shares its SEC industry code (Services-Skilled Nursing Care Facilities); the rest are the names nearest in size in its wider industry, Healthcare, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Filings

FilingPeriodFiledWhere
10-Q30 June 20266 August 2026EDGAR
10-Q31 March 20267 May 2026EDGAR
10-K31 December 202526 February 2026EDGAR
10-Q30 September 20256 November 2025EDGAR
10-Q30 June 20257 August 2025EDGAR
10-Q31 March 20258 May 2025EDGAR
10-K/A31 December 20243 March 2025EDGAR
10-K31 December 202428 February 2025EDGAR
10-Q30 September 20247 November 2024EDGAR
10-Q30 June 20248 August 2024EDGAR

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