NHC Financials National Healthcare Corp

15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Aug 9, 2026, 10:16 UTC Overview →

Growth & profitability

Revenue has grown 8.1% per year over the past 5 years.
Net income has grown faster than revenue (23.4% vs 8.1% per year).
Operating margin has expanded, at 8.5% in the latest year.
Free cash flow has declined 3.9% per year over the past 5 years.

Financial health

The company holds more cash ($93M) than total debt ($40M).
Operating income covered interest expense 20× in the latest year.
Total debt is 0.2× EBITDA.

Shareholder returns

Dividends have been paid for 15 consecutive years, consuming 32.2% of earnings and 26.0% of free cash flow.
The dividend has grown 3.9% per year over the past 5 years.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
2025	$1.5B	$120M	0.0%	8.5%	11.2%	7.9%	$149M	$40M	$93M
2024	$1.3B	$102M	0.0%	6.9%	10.4%	6.7%	$80M	$137M	$76M
2023	$1.1B	$67M	0.0%	5.0%	7.4%	5.1%	$83M	$0	$107M
2022	$1.1B	$22M	0.0%	2.9%	2.6%	1.8%	-$21M	—	$59M
2021	$1.1B	$139M	0.0%	4.7%	15.3%	9.9%	$23M	—	$108M
2020	$1.0B	$42M	0.0%	4.7%	5.3%	3.1%	$181M	—	$147M
2019	$996M	$68M	0.0%	4.9%	8.8%	5.3%	$74M	$10M	$50M
2018	$980M	$59M	0.0%	5.7%	8.0%	5.5%	$69M	$55M	$43M
2017	$964M	$56M	0.0%	5.6%	8.0%	5.1%	$62M	$100M	$59M
2016	$924M	$51M	0.0%	6.6%	7.5%	4.6%	$28M	$120M	$26M
2015	—	$53M	—	—	8.4%	5.1%	$25M	$120M	$38M
2014	—	$53M	—	—	7.3%	5.0%	$22M	$10M	$70M
2013	—	$65M	—	—	9.4%	6.6%	$59M	$10M	$82M
2012	—	$59M	—	—	9.0%	6.4%	$42M	$10M	$67M
2011	—	$65M	—	—	10.7%	7.5%	$59M	$10M	$61M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
Jun '26	$408M	$40M	0.0%	12.0%	3.6%	2.6%	$31M	$0	$39M
Mar '26	$382M	$36M	0.0%	8.4%	3.3%	2.4%	$53M	$0	$86M
Dec '25	$387M	$25M	0.0%	8.6%	2.3%	1.6%	$6M	$40M	$93M
Sep '25	$383M	$39M	0.0%	7.9%	3.7%	2.5%	$56M	$73M	$131M
Jun '25	$375M	$24M	0.0%	9.1%	2.3%	1.5%	$53M	$110M	$111M
Mar '25	$374M	$32M	0.0%	8.2%	3.2%	2.1%	$33M	$134M	$90M
Dec '24	$369M	$6M	0.0%	7.8%	0.6%	0.4%	$5M	$137M	$76M
Sep '24	$340M	$43M	0.0%	6.7%	4.4%	2.7%	$29M	$147M	$85M
Jun '24	$301M	$27M	0.0%	7.5%	2.8%	2.0%	$43M	—	$136M
Mar '24	$297M	$26M	0.0%	5.3%	2.8%	2.0%	$4M	—	$94M
Dec '23	$301M	$28M	0.0%	6.7%	3.1%	2.2%	$17M	$0	$107M
Sep '23	$288M	$10M	0.0%	4.5%	1.2%	0.8%	$26M	—	$100M
Jun '23	$283M	$16M	0.0%	4.9%	1.8%	1.3%	$33M	—	$78M
Mar '23	$270M	$12M	0.0%	3.7%	1.3%	0.9%	$7M	—	$46M
Dec '22	$265M	$6M	0.0%	3.4%	0.7%	0.5%	$6M	—	$59M
Sep '22	$271M	-$2M	0.0%	1.5%	-0.3%	-0.2%	-$10M	—	$45M
Jun '22	$271M	$3M	0.0%	1.7%	0.4%	0.2%	$18M	—	$76M
Mar '22	$279M	$15M	0.0%	5.1%	1.7%	1.1%	-$36M	—	$57M
Dec '21	$283M	$16M	0.0%	3.2%	1.7%	1.1%	$2M	—	$108M
Sep '21	$277M	-$3M	0.0%	4.6%	-0.4%	-0.2%	-$6M	—	$112M

Valuation over time

How the market has priced NHC against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has fallen from 40.5× (Mar '23) to 26.4× (Nov '26).
The price-to-sales ratio has risen from 0.8× (Mar '23) to 2.1× (Nov '26).
The dividend yield has fallen from 3.8% (Mar '23) to 1.2% (Nov '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is NHC growing its revenue and profit?

Over the past 5 years, National Healthcare Corp's revenue has grown 8.1% per year, and net income grown 23.4% per year. These are computed facts, not advice.

How much debt does NHC have?

As of FY2025, National Healthcare Corp reported $40M of total debt against $93M of cash; operating income covered interest expense 20×.

What is NHC's profit margin?

In FY2025, gross margin was —, operating margin 8.5%, and net margin 7.9%.

What is NHC's P/E ratio?

National Healthcare Corp's P/E (TTM) is 22.58 as of the 2026-11-02 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the NHC stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 26.4× as of Nov '26) can differ. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.