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Operates skilled nursing, assisted living, home health and hospice facilities concentrated in Tennessee and the Southeast.
Operates skilled nursing, assisted living, home health and hospice facilities concentrated in Tennessee and the Southeast.
Is paid daily rates for each resident or patient, mostly by Medicare and Medicaid, so government reimbursement rates and occupancy decide results; private-pay residents in assisted living add higher-paying income. State licensing limits on new beds protect existing centres.
Moat: narrow (regulatory licence, scale, brand). State certificate-of-need licensing and a long-standing regional operating reputation limit new entry.
Headquarters: Murfreesboro, Tennessee, United States · Founded: 1971 · Employees: 15,278
Size National HealthCare (NHC) is a United States Health Care company (Hospital/Nursing Management) with a market value of $3.27B, the 1488th largest of 3,117 United States companies the cockpit tracks. Shares closed at $208.85 on 6 Nov 2026.
Performance Over six months the shares gained 10.6%, against -1.7% for the median peer and -1.1% for the United States market (cap-weighted) — 7th highest of 21 in its peer set.
Growth Revenue grew 7.2% over the last twelve months (peer median +12.9%); the operating margin is -7.5% (peer median 11.5%).
Valuation It trades at 2.0× enterprise value to sales against a peer median of 3.0× (6th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 8% a year for seven years (Req g). Recent delivered growth is +10%, so the hurdle is -2 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 18.3 points below its cost of capital (8.1% WACC).
Short interest Short interest is 4.8% of the free float (15 Oct 2026).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $1.55B | $1.51B | $1.25B | $1.12B | $1.05B |
| Revenue growth | — | +21% | +12% | +6% | — |
| Gross profit | $829M | $1.07B | $880M | $772M | $709M |
| EBITDA | -$70.8M | $188M | $107M | $88.0M | $26.2M |
| Net income | $140M | $120M | $102M | $66.8M | $22.4M |
| Free cash flow | $147M | $149M | $79.7M | $83.3M | -$21.5M |
| Capital expenditure | $97.0M | $36.4M | $27.6M | $27.9M | $30.2M |
| Total debt | $31.4M | $87.1M | $215M | $93.4M | $126M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| National HealthCare NHC | $3.27B | +11% | +7% | -8% | 2.0× | 7.9% |
| Brookdale Senior Living BKD | $2.15B | -31% | -4% | 5% | 2.4× | 22.4% |
| Ensign ENSG | $10.6B | +6% | +17% | 9% | 2.2× | 12.0% |
| Pennant PNTG | $1.27B | +1% | +38% | 6% | 1.6× | 21.1% |
| Sonida Senior Living SNDA | $1.58B | -14% | +49% | -11% | 5.9× | n/a |
| Chemed CHE | $6.87B | +24% | +5% | 14% | 2.7× | 2.4% |
| Addus HomeCare ADUS | $2.32B | +25% | +12% | 11% | 1.5× | 4.9% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | NHC | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -7.2% | +4.5% | 2nd lowest of 21 |
| 6-month return | +10.6% | -1.7% | 7th highest of 21 |
| Distance from 52-week high | -15.8% | -17.9% | 11th highest of 21 |
| Revenue growth (TTM) | +7.2% | +12.9% | 10th lowest of 21 |
| Operating margin | -7.5% | 11.5% | lowest of 21 |
| EV / Sales | 2.0× | 3.0× | 6th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 7.9% | 13.6% | 6th least demanding of 18 |
| Growth delivered (Del g) | +9.7% | +10.2% | 9th lowest of 18 |
| Hurdle (Req g minus delivered) | -1.8 pp | +2.7 pp | 6th least demanding of 18 |
| ROIC minus cost of capital | -18.3 pp | -1.6 pp | lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| National HealthCare NHC | United States | $3.27B | +11% | +7% | -8% | 2.0× | 7.9% | +9.7% |
| Krishna Institute of Medical Sciences KIMS.NS | India | $3.21B | +2% | +31% | 12% | 8.0× | n/a | n/a |
| Surgery Partners SGRY | United States | $2.99B | +61% | +4% | 14% | 2.6× | 13.8% | +12.2% |
| Global Health MEDANTA.NS | India | $3.95B | +15% | +26% | 17% | 7.4× | n/a | n/a |
| Narayana Hrudayalaya NH.NS | India | $4.11B | +3% | +71% | 13% | 4.1× | 31.1% | +25.0% |
| Topchoice Medical 600763.SS | China | $2.51B | -11% | +7% | 26% | 5.7× | 13.6% | +6.9% |
| Ardent Health ARDT | United States | $2.44B | +71% | +3% | 4% | 0.7× | 4.0% | +8.7% |
| Brookdale Senior Living BKD | United States | $2.15B | -31% | -4% | 5% | 2.4× | 22.4% | -1.4% |
| Huaxia Eye Hospital 301267.SZ | China | $1.92B | -16% | +2% | 15% | 2.4× | 3.8% | +10.4% |
| Extendicare EXE.TO | Canada | $1.87B | -9% | +31% | 9% | 1.6× | 11.2% | +8.5% |
| Fortis Healthcare FORTIS.NS | India | $6.13B | -19% | +18% | 17% | 6.1× | 41.0% | +17.9% |
| Sienna Senior Living SIA.TO | Canada | $1.63B | -11% | +16% | 10% | 3.2× | 19.6% | +8.6% |
| Aster DM Quality Care ASTERDM.NS | India | $6.57B | -3% | +16% | 14% | 12.7× | 55.3% | -11.6% |
| Chemed CHE | United States | $6.87B | +24% | +5% | 14% | 2.7× | 2.4% | +4.0% |
| Xi'an International Medical Investment 000516.SZ | China | $1.54B | 0% | -1% | -2% | 3.2× | 13.6% | +20.6% |
| Aevis Victoria AEVS.SW | Switzerland | $1.49B | +9% | +15% | -6% | 1.8× | 26.6% | +10.2% |
| Sanbo Hospital Management 301293.SZ | China | $1.48B | -21% | +17% | 6% | 5.4× | n/a | n/a |
| PACS PACS | United States | $7.87B | +48% | +11% | 8% | 2.0× | 7.6% | +29.7% |
| Spire Healthcare SPI.L | United Kingdom | $1.34B | +68% | +2% | 8% | 1.4× | 9.8% | +11.4% |
| Rainbow Childrens Medicare RAINBOW.NS | India | $1.34B | -4% | +23% | 22% | 6.9× | 30.2% | +21.2% |
| Raffles Medical BSL.SI | Singapore | $1.25B | -15% | -3% | 11% | 1.8× | -2.4% | +6.1% |