National Health Investors
Financial ratios & Valuation

Forward Multiples (2025 – 2028)

2025202620272028
Price/Earnings ratio
25.7025.04N/AN/A
Price/Sales ratio
10.248.9613.8113.75
Earnings per Share (EPS)
$2.97$3.05N/AN/A

Historical Multiples (2014 – 2023)

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 TTM Median
Valuation Ratios
Price/Earnings ratio
22.9815.3719.0919.3420.5233.9622.8342.24101.3917.8623.6020.52
Price/Sales ratio
13.159.9911.6411.0610.7511.129.288.798.407.579.4611.12
Price/Book Value ratio
2.242.012.392.332.272.362.041.741.841.932.432.27
Price/Cash Flow ratio
18.5113.9216.3215.6215.2414.6813.3112.4512.6113.1314.6814.68
Price/Free Cash Flow ratio
-5.7045.86-15.24140.2352.6115.8614.1612.4612.9313.4015.9815.98
Price/Earnings Growth ratio
-1.220.50-9.4537.52-3.63-0.970.87-0.76-1.640.0315.53-3.63
Dividend Yield
4.31%5.44%4.77%4.96%5.22%5.08%6.29%6.96%6.91%6.44%3.92%5.08%
Profitability Indicator Ratios
Gross Profit Margin
99.65%99.56%99.59%99.65%99.60%98.17%97.09%96.10%96.48%96.40%79.32%98.17%
Operating Profit Margin
59.82%71.55%71.52%70.98%71.02%69.16%66.34%44.25%29.15%55.90%65.46%69.16%
Pretax Profit Margin
58.05%65.33%61.75%57.19%52.38%50.44%55.68%37.48%23.54%42.01%38.03%50.44%
Net Profit Margin
57.24%65.00%60.98%57.19%52.38%32.74%40.67%20.81%8.28%42.41%38.38%38.38%
Effective Tax Rate
23.94%-0.47%0.48%29.06%-5.93%35.08%26.94%44.45%64.79%N/A12.39%-5.93%
Return on Assets
5.12%6.93%6.30%6.25%5.61%3.42%4.33%2.19%0.91%5.45%5.15%5.15%
Return On Equity
9.77%13.13%12.52%12.05%11.10%6.95%8.95%4.12%1.81%10.81%10.19%10.19%
Return on Capital Employed
5.48%7.83%7.57%7.94%7.80%7.45%7.28%4.77%3.32%7.64%8.80%7.80%
Liquidity Ratios
Current Ratio
6.7310.9610.9914.1318.5017.6117.35N/AN/AN/A72.5118.50
Quick Ratio
2.313.8246.2349.055.364.990.027.205.422.3672.515.36
Cash ratio
0.070.230.080.050.060.050.490.530.270.153.370.06
Days of Sales Outstanding
210.97310.51302.59130.70138.76102.42107.80121.46107.39376.58352.34138.76
Days of Inventory outstanding
0.00N/A-869.50K-967.94K0.000.0016.42K0.00N/AN/AN/A0.00
Operating Cycle
210.97310.51-869.19K-967.81K138.76102.4216.53K121.46107.39376.58352.34138.76
Days of Payables Outstanding
9.25K7.46K7.55K6.19K6.22K1.65K682.12570.20940.541.08K173.751.65K
Cash Conversion Cycle
-9.04K-7.15K-876.74K-974.00K-6.08K-1.55K15.85K-448.73-833.14-710.96178.58-6.08K
Debt Ratios
Debt Ratio
0.440.420.460.450.460.470.480.440.450.450.460.47
Debt Equity Ratio
0.850.800.920.880.920.960.990.830.900.900.920.92
Long-term Debt to Capitalization
0.450.440.470.460.470.490.400.450.360.450.480.47
Total Debt to Capitalization
0.450.440.470.460.470.490.490.450.470.470.480.47
Interest Coverage Ratio
5.554.784.484.654.574.174.54N/AN/AN/A15.374.57
Cash Flow to Debt Ratio
0.140.170.150.160.160.160.150.160.160.160.170.16
Company Equity Multiplier
1.901.891.981.921.972.032.061.881.971.982.001.97
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
0.710.710.710.700.700.750.690.700.660.570.610.75
Free Cash Flow / Operating Cash Flow Ratio
-3.240.30-1.070.110.280.920.940.990.970.970.950.28
Cash Flow Coverage Ratio
0.140.170.150.160.160.160.150.160.160.160.170.16
Short Term Coverage Ratio
N/AN/AN/AN/AN/AN/A0.50N/A0.442.44479.52N/A
Dividend Payout Ratio
99.05%83.74%91.26%96.03%107.16%172.56%143.74%294.10%701.52%115.17%123.29%107.16%