National Health Investors Inc. Common Stock (NHI)

FairStock Score: 57/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

As a value investor, I start with the business: National Health Investors owns senior housing and medical facilities, mostly leased or financed for operators. That can be a decent, defensive business—people still need care—but the moat is modest. Location and regulation help, yet operator credit and lease coverage drive the real risk. The balance sheet looks acceptable, not fortress-like: debt-to-equity is 0.80, the Altman Z-Score is 2.79, and the Piotroski F-Score is 7/9. Cash generation is the bright spot: trailing free cash flow is $248.7M and the FCF yield is 7.7%, comfortably above the 5.55% dividend yield. On valuation, the stock closed at $65.60 on 2026-10-13. It trades at 2.05 times book and 14.28 times EV/EBITDA. The P/E is 18.96, but for a REIT, depreciation distorts EPS, and FFO/AFFO—the measures I would really want—are not in the data. Growth is mixed. Filed figures show FY2025 revenue of $80.1M versus $54.4M in FY2024, but net income was $142.2M versus $138.0M, and diluted EPS slipped to $3.02 from $3.13. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $44.8M and net income was $55.7M. FairStock labels this a slow grower with shrinking profits, down 5.1% a year over five years. At a 57/100 FairStock score and near the 52-week low, the price may be fair, but I see no obvious bargain without FFO/AFFO and clearer profit stabilization.

In plain English: National Health Investors owns senior housing and medical buildings and leases them to operators. The business generates solid cash and pays a 5.55% yearly dividend, but profits have been shrinking over the last few years and debt is moderate. At $65.60, the shares look more fair than cheap compared with the company's accounting value, and important REIT cash-profit measures are not available in this data.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer