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NYSE · SERVICES-SKILLED NURSING CARE FACILITIES · LARGE CAP

National Healthcare Corp. NHC

17 fiscal years on record · USD · FY2025 reported · SEC filings only
12 YEARS OF DIVIDEND GROWTH
$1.5B
▲ 17.4% YoY
$120.0M
▲ 17.7% YoY
$148.6M
▲ 86.5% YoY
In brief

What this company does

National HealthCare Corporation's principal business is the operation of skilled nursing facilities, assisted living facilities, independent living facilities, homecare and hospice agencies, and behavioral health hospitals. It also owns the real estate of 10 healthcare properties, which it leases to third party operators. The company operates in 9 states, primarily in the Southeastern and Midwestern parts of the United States. As of December 31, 2025, the company had 15,278 full-time and part-time employees. It has two reportable operating segments: inpatient services, which includes the operation of skilled nursing facilities, assisted and independent living facilities, and behavioral health hospitals, and homecare and hospice services. Caris Healthcare, a wholly owned subsidiary of NHC, provides hospice and palliative care to over 1,647 patients per day in 33 locations in Georgia, Missouri, South Carolina, Tennessee, and Virginia. The company began business in 1971.

Written from the business description in NATIONAL HEALTHCARE CORP's annual report to the U.S. Securities and Exchange Commission, filed 26 February 2026. Every sentence was checked against that document before publication.

Growth
USD 1.5B
Revenue, FY2025 · full 17-year series below
Revenue $B Net income $B
FY2025 · Revenue 1.5 · Net income 0.1
0.5B1.0B200920112013201520172019202120232025
Compound annual growth
+12.6%
+9.5%
+4.9%
+4.9%
+74.9%
+23.4%
+8.5%
+5.6%
+74.2%
+23.0%
+9.1%
+6.0%
+3.8%
+4.0%
+5.1%
−2.6%
+4.2%
+6.4%
+5.3%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +9.5% a year over five years — but profit grew faster: net income at +23.4%, earnings per share at +23.0%.

The share count rose from 0.02B to 0.02B over the period.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
8 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 8.7% · Net 8.3%
5%10%200920112013201520172019202120232025
ROE
FY2025 · ROE 11.7%
5%10%15%200920112013201520172019202120232025
Gross margin—
Operating margin8.7%
Net margin8.3%
Return on assets8.0%
EBITDAUSD 173.3M

Each USD of equity produced 12 cents of profit this year.

Cash & shareholders
USD 39.2M
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 148.6
80M160M-8M-16M200920112013201520172019202120232025
Net buybacks $M Dividends $M
FY2025 · Dividends 38.7 · Net buybacks 0.5
20M40MDividendsNet buybacks200920112013201520172019202120232025
Dividends paidUSD 38.7M
Net buybacksUSD 516,000.00
Share of profit32.7%
Consecutive raises12 years

USD 38.7M in dividends and USD 516,000.00 in buybacks — 33% of the year's profit went back to shareholders.

Total assetsUSD 1.5B
EquityUSD 1.1B
CashUSD 92.8M
Gross debtUSD 40.0M
Net debtUSD -52.8M
Current ratio1.82×

The company holds more cash than debt.

The 17-year record
17 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative
Metric 20252024202320222021202020192018201720162015201420132012201120102009
Revenue $B1.51.31.11.01.00.90.90.90.90.90.90.90.80.80.80.70.7
Operating income $B0.10.10.10.00.10.00.00.10.10.10.10.10.10.10.10.10.1
EBITDA $B0.20.10.10.10.10.10.10.10.10.10.10.10.10.10.10.10.1
Income tax $B0.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.0
Net income $B0.10.10.10.00.10.00.10.10.10.10.10.10.10.10.10.10.0
Free cash flow $B0.10.10.1−0.00.00.20.10.10.10.00.00.00.10.00.10.00.0
EPS, diluted $7.676.534.341.458.992.724.443.873.693.323.203.143.873.573.963.222.31
Dividend / sh $2.532.422.342.262.112.082.061.981.891.751.541.341.262.201.18··
Payout %32365315423764651505140352752252834
ROE %11.710.87.52.516.35.39.08.28.27.87.87.59.69.411.29.77.6
Shares out B0.020.020.020.020.020.020.020.020.020.020.020.010.010.010.010.01·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 66 reconciliationsAUDITED

Reconciled in 17 of 19 fiscal years. 10 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityServices-Skilled Nursing Care Facilities
Listed onNYSE
Incorporated inDelaware
Fiscal year endsDecember 31
Data on record since2009

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