# National Health Investors Inc: overview

NHI · NYSE · CIK 877860 · [Real estate](/sectors/real-estate.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/nhi.md) · [Financials](/companies/nhi/financials.md) · [Filings](/companies/nhi/filings.md) · [Insiders](/companies/nhi/insiders.md)

Latest reported revenue: [$44.8m](/filings/0000877860-26-000199.md) for Q2 FY2026, three months to 2026-06-30, from the 10-Q filed Aug 10, 2026 (XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, accession 0000877860-26-000199).

## Last eight quarters

| Line item | Unit | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [13.8](/filings/0000877860-25-000183.md) | [14.0 d](/filings/0000877860-26-000053.md) | [13.9](/filings/0000877860-26-000135.md) | [14.2](/filings/0000877860-26-000199.md) | [21.2](/filings/0000877860-25-000183.md) | [30.7 d](/filings/0000877860-26-000053.md) | [37.1](/filings/0000877860-26-000135.md) | [44.8](/filings/0000877860-26-000199.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Net margin | % | [207.2%](/filings/0000877860-25-000183.md) | [308.8% d](/filings/0000877860-26-000053.md) | [245.1%](/filings/0000877860-26-000135.md) | [260.2%](/filings/0000877860-26-000199.md) | [155.2%](/filings/0000877860-25-000183.md) | [124.2% d](/filings/0000877860-26-000053.md) | [108.2%](/filings/0000877860-26-000135.md) | [124.3%](/filings/0000877860-26-000199.md) |
| Diluted EPS | $ per share | [0.65](/filings/0000877860-25-000183.md) | not reported | [0.74](/filings/0000877860-26-000135.md) | [0.79](/filings/0000877860-26-000199.md) | [0.69](/filings/0000877860-25-000183.md) | not reported | [0.82](/filings/0000877860-26-000135.md) | [1.15](/filings/0000877860-26-000199.md) |
| Free cash flow | $m | not reported | [(53.3) d](/filings/0000877860-26-000053.md) | [(38.7)](/filings/0000877860-26-000135.md) | not reported | not reported | [(75.6) d](/filings/0000877860-26-000053.md) | [(56.0)](/filings/0000877860-26-000135.md) | not reported |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment; Capital expenditure: us-gaap:PaymentsToAcquireProductiveAssets. Derived values: 9-month figure less the 6-month figure; 12-month figure less the 9-month figure; 6-month figure less the 3-month figure.

## Last five fiscal years

| Line item | Unit | FY2021 (2021-12-31) | FY2022 (2022-12-31) | FY2023 (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [0.0](/filings/0000877860-24-000010.md) | [35.8](/filings/0000877860-25-000027.md) | [48.8](/filings/0000877860-26-000053.md) | [54.4](/filings/0000877860-26-000053.md) | [80.1](/filings/0000877860-26-000053.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | not reported | not reported | not reported | not reported | not reported |
| Net margin | % | not reported | [185.5%](/filings/0000877860-25-000027.md) | [277.9%](/filings/0000877860-26-000053.md) | [253.6%](/filings/0000877860-26-000053.md) | [177.6%](/filings/0000877860-26-000053.md) |
| Diluted EPS | $ per share | [2.44](/filings/0000877860-24-000010.md) | [1.48](/filings/0000877860-25-000027.md) | [3.13](/filings/0000877860-26-000053.md) | [3.13](/filings/0000877860-26-000053.md) | [3.02](/filings/0000877860-26-000053.md) |
| Free cash flow | $m | [161](/filings/0000877860-24-000010.md) | [174](/filings/0000877860-25-000027.md) | [135](/filings/0000877860-26-000053.md) | [49.8](/filings/0000877860-26-000053.md) | [(57.5)](/filings/0000877860-26-000053.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Operating margin (operating income / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/nhi/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $666.0m | 8,733,237 |  | Added +3,926,380 |
| [VANGUARD PORTFOLIO MANAGEMENT LLC](/funds/2100121.md) | 2026-06-30 | $353.1m | 4,630,646 |  | Added +488,430 |
| [STATE STREET CORP](/funds/93751.md) | 2026-06-30 | $211.1m | 2,735,937 |  | Added +761,547 |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $160.1m | 2,099,145 |  | Added +14,525 |
| [PRINCIPAL FINANCIAL GROUP INC](/funds/1126328.md) | 2026-06-30 | $150.8m | 1,977,094 |  | Added +276,186 |
| [Bank of New York Mellon Corp](/funds/1390777.md) | 2026-06-30 | $122.5m | 1,606,463 |  | Added +1,091,732 |
| [GEODE CAPITAL MANAGEMENT, LLC](/funds/1214717.md) | 2026-06-30 | $107.0m | 1,402,775 |  | Added +91,535 |
| [BANK OF AMERICA CORP /DE/](/funds/70858.md) | 2026-06-30 | $77.7m | 1,019,379 |  | Added +26,577 |
| [CHARLES SCHWAB INVESTMENT MANAGEMENT INC](/funds/884546.md) | 2026-06-30 | $67.1m | 880,321 |  | Added +54,330 |
| [NOMURA ASSET MANAGEMENT INTERNATIONAL INC.](/funds/921739.md) | 2026-06-30 | $66.4m | 870,365 |  | Reduced −26,937 |

## Recent filings

[All 1,174 filings](/companies/nhi/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-08-27 | 16:08 ET | [8-K](/filings/0000877860-26-000205.md) | 5.02 Departure or appointment of officers or directors; 9.01 Financial statements and exhibits | 0000877860-26-000205 |
| 2026-08-10 | 16:15 ET | [8-K](/filings/0000877860-26-000203.md) | 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0000877860-26-000203 |
| 2026-08-10 | 16:12 ET | [8-K](/filings/0000877860-26-000201.md) | 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0000877860-26-000201 |
| 2026-08-10 | 16:10 ET | [8-K](/filings/0000877860-26-000200.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0000877860-26-000200 |
| 2026-08-10 | 16:09 ET | [10-Q](/filings/0000877860-26-000199.md) | Quarterly report, period 2026-06-30 | 0000877860-26-000199 |
| 2026-07-27 | 09:02 ET | [8-K](/filings/0000877860-26-000177.md) | 5.02 Departure or appointment of officers or directors; 9.01 Financial statements and exhibits | 0000877860-26-000177 |
| 2026-07-01 | 16:32 ET | [8-K](/filings/0000877860-26-000169.md) | 1.02 Termination of a material agreement; 2.01 Completion of an acquisition or disposition | 0000877860-26-000169 |
| 2026-07-01 | 16:15 ET | [8-K](/filings/0000877860-26-000167.md) | 5.02 Departure or appointment of officers or directors | 0000877860-26-000167 |
| 2026-06-01 | 16:15 ET | [8-K](/filings/0000877860-26-000152.md) | 8.01 Other events | 0000877860-26-000152 |
| 2026-05-29 | 17:06 ET | [8-K](/filings/0000877860-26-000149.md) | 5.07 Shareholder vote results | 0000877860-26-000149 |

## Latest annual report

[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0000877860-26-000053.md), filed Feb 26, 2026.

## Forecast league

Q3 FY2026, the quarter ended 2026-09-30, is open for forecasts until the first results filing for it is accepted by EDGAR. Results are due by \[object Promise\]. [Forecast this quarter](/leagues/2026q3/targets/3204581c-e096-482f-902a-14075f16ec66)

## About the filer

- CIK: 877860
- Tickers: NHI
- Exchange: NYSE
- SIC code: 6798 Real Estate Investment Trusts
- State of incorporation: MD
- Filer category: Large accelerated filer

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 30, 2026, 13:56 ET. No prices; not investment advice.