AMEX · Financial Statements

National HealthCare Corporation (NHC) Financial Statements

$236.01 AMEX: NHC Market Cap $3.70B

National HealthCare Corporation most recently reported annual revenue of $1.5B, net profit of $120.0M. Revenue grew at an average annual rate of 9.1% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

National HealthCare Corporation: Revenue rose from $924.0M in 2016 to $1.5B in 2025, a change of +64.3% over 9 years; net profit was positive in all 10 reported years; operating margin moved from 6.6% to 8.5%, a shift of +1.9 percentage points; the most recent year shows net profit of $120.0M.

Income Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Revenue$924.0M$964.0M$980.0M$996.0M$981.0M$1.0B$1.1B$1.1B$1.3B$1.5B
Operating Expenses$863.0M$910.0M$924.0M$947.0M$933.0M$960.0M$1.0B$1.1B$1.2B$1.4B
Operating Profit$61.0M$54.0M$56.0M$49.0M$48.0M$51.0M$32.0M$57.0M$86.0M$128.0M
Operating Margin6.6%5.6%5.7%4.9%4.9%5.0%3.0%5.0%6.6%8.5%
Other Income$20.0M$20.0M$19.0M$39.0M$4.0M$99.0M$-5.0M$32.0M$51.0M$34.0M
Interest$4.0M$5.0M$5.0M$3.0M$1.0M$1.0M$1.0M$0$4.0M$6.0M
Depreciation$39.0M$43.0M$42.0M$42.0M$42.0M$41.0M$40.0M$42.0M$42.0M$45.0M
Profit Before Tax$80.0M$75.0M$75.0M$88.0M$52.0M$150.0M$27.0M$89.0M$136.0M$162.0M
Tax$37.0M$25.3M$21.6M$22.8M$19.9M$7.3M$26.6M$26.4M$25.2M$24.5M
Net Profit$51.0M$56.0M$59.0M$68.0M$42.0M$139.0M$22.0M$67.0M$102.0M$120.0M
EPS$3.32$3.69$3.87$4.44$2.72$8.99$1.45$4.34$6.53$7.67
Dividend Payout0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

MetricSep '23Dec '23Mar '24Jun '24Sep '24Dec '24Mar '25Jun '25Sep '25Dec '25Mar '26Jun '26
Revenue$288.0M$301.0M$297.0M$291.0M$340.0M$369.0M$374.0M$375.0M$383.0M$387.0M$382.0M$408.0M
Operating Expenses$275.0M$281.0M$282.0M$269.0M$319.0M$343.0M$343.0M$341.0M$352.0M$353.0M$350.0M$359.0M
Operating Profit$13.0M$20.0M$16.0M$23.0M$21.0M$27.0M$31.0M$34.0M$30.0M$33.0M$32.0M$49.0M
Operating Margin4.5%6.7%5.3%7.7%6.2%7.2%8.2%9.1%7.9%8.6%8.4%12.0%
Interest$0$0$0$0$2.0M$2.0M$2.0M$2.0M$1.0M$1.0M$0$0
Profit Before Tax$14.0M$37.0M$36.0M$37.0M$58.0M$6.0M$44.0M$32.0M$54.0M$32.0M$45.0M$54.0M
Tax$27.9M$23.7M$26.5M$25.9M$26.4M$460,000$26.1M$25.0M$24.6M$21.6M$19.4M$24.9M
Net Profit$10.0M$28.0M$26.0M$27.0M$43.0M$6.0M$32.0M$24.0M$39.0M$25.0M$36.0M$40.0M
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

Over the 10 years reported for National HealthCare Corporation, borrowings decreased from $150.0M in 2016 to $87.0M in 2025, cash stood at $111.0M in the latest year, shareholders' equity was $0, current assets covered current liabilities 1.76 times.

Balance Sheet — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Total Assets$1.1B$1.1B$1.1B$1.3B$1.4B$1.4B$1.3B$1.3B$1.5B$1.5B
Current Assets$291.0M$329.0M$322.0M$341.0M$457.0M$427.0M$354.0M$406.0M$424.0M$448.0M
Cash$26.0M$198.0M$183.0M$50.0M$147.0M$108.0M$59.0M$107.0M$76.0M$111.0M
Inventory$8.0M$7.0M$7.0M$7.0M$9.0M$9.0M$7.0M$7.0M$9.0M$0
Receivables$81.0M$94.0M$99.0M$91.0M$90.0M$97.0M$100.0M$109.0M$136.0M$139.0M
Fixed Assets$560.0M$549.0M$535.0M$738.0M$699.0M$677.0M$627.0M$588.0M$763.0M$0
Capital Work in Progress$0$0$0$0$0$0$0$0$0$0
Investments$202.0M$36.0M$32.0M$192.0M$217.0M$150.0M$126.0M$133.0M$168.0M$343.0M
Other Assets$18.0M$18.0M$21.0M$21.0M$21.0M$168.0M$168.0M$168.0M$170.0M$0
Total Liabilities$418.0M$394.0M$348.0M$508.0M$564.0M$495.0M$398.0M$400.0M$541.0M$452.0M
Current Liabilities$151.0M$155.0M$158.0M$195.0M$281.0M$263.0M$198.0M$214.0M$235.0M$254.0M
Borrowings$150.0M$127.0M$78.0M$232.0M$194.0M$167.0M$126.0M$93.0M$215.0M$87.0M
Other Liabilities$268.0M$267.0M$270.0M$276.0M$370.0M$328.0M$272.0M$307.0M$327.0M$365.0M
Equity$0$0$0$0$0$0$0$0$0$0
Reserves$670.0M$703.0M$733.0M$779.0M$795.0M$903.0M$874.0M$909.0M$980.0M$1.1B

For National HealthCare Corporation, operating cash flow was positive in 10 of 10 reported years; free cash flow in the latest year was $149.0M; free cash flow was positive in 9 of 10 years; financing activities used $14.0M in the latest year, which covers debt repayment, dividends and buybacks.

Cash Flow Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Operating Cash Flow$91.0M$94.0M$98.0M$100.0M$203.0M$62.0M$9.0M$111.0M$107.0M$185.0M
Investing Cash Flow$-144.0M$-42.0M$-63.0M$-41.0M$-86.0M$-105.0M$-36.0M$-45.0M$-264.0M$-70.0M
Financing Cash Flow$-9.0M$0$-2.0M$-2.0M$2.0M$-2.0M$-10.0M$-2.0M$-13.0M$-14.0M
Net Cash Flow$-18.0M$36.0M$-13.0M$6.0M$97.0M$-39.0M$-45.0M$51.0M$-29.0M$15.0M
Free Cash Flow$28.0M$62.0M$69.0M$74.0M$181.0M$23.0M$-21.0M$83.0M$80.0M$149.0M

Valuation & Return Ratios

MetricValue
PEG Ratio0.76
EV / EBITDA15.14
FCF Yield4.12%
Quick Ratio22.06
Interest Coverage56.65
Return 1Y133.14%
Return 3Y302.12%
Return 5Y240.68%

National HealthCare Corporation (NHC) financials — frequently asked questions

What is National HealthCare Corporation's annual revenue?

National HealthCare Corporation (NHC) reported annual revenue of $1.5B in its most recent fiscal year.

What is National HealthCare Corporation's net profit?

National HealthCare Corporation (NHC) reported net profit of $120.0M in its most recent fiscal year.

What is NHC EV/EBITDA?

National HealthCare Corporation's enterprise value to EBITDA (EV/EBITDA) ratio is 15.14.

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