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 41 d ago 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 28.9× (Sep '26).
The price-to-sales ratio has risen from 0.8× (Mar '23) to 2.3× (Sep '26).
The dividend yield has fallen from 3.8% (Mar '23) to 1.1% (Sep '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?

As of Sep '26, National Healthcare Corp traded at a price-to-earnings ratio of about 28.9× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. 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), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.