NATIONAL HEALTHCARE CORP(NHC)Stock Analysis
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Rank #267 of 2,879 stocksTOP 10%
Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Aug 14, 2026.
Revenue Growth
Profitability
Balance Sheet
Earnings Quality
Free Cash Flow
Institutional Flow
Revenue Scale
Dilution Risk
NHC Stock Analysis & AI Quality Score
AI stock analysis and institutional research for NATIONAL HEALTHCARE CORP (NHC), a Healthcare sector company. 13F Pro's AI-powered ranking engine scores NHC at 71.2/100 on a 32-signal composite quality model, placing it at rank #267 of 2,879 stocks — the top 10% of the AI-ranked universe. NHC scores in the top quartile across balance sheet strength (83.3), earnings quality (81.5), revenue growth (76.3). Based on the latest XBRL financial filings (Q1 2026), NATIONAL HEALTHCARE CORP reports quarterly revenue of $381.8M, net income of $35.9M, an operating margin of 8.5%. Top institutional holders of NHC by reported 13-F value include BlackRock,, Morgan Stanley Institutional Investment Advisors, DIMENSIONAL FUND ADVISORS, based on the most recent SEC filings. NHC trades on the NYSE exchange and files with the SEC under CIK 1047335. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate NHC daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for NATIONAL HEALTHCARE CORP directly from SEC EDGAR. NATIONAL HEALTHCARE CORP's 13F Pro composite quality score has ranged between 8 and 74 since 2021, currently 71.2 — an improving long-term trajectory across 56 quarterly and live scoring snapshots.
What's Driving NHC's Business? Latest 10-Q Breakdown
AI-extracted from NATIONAL HEALTHCARE CORP's 10-Q filed 2026-05-07 — Q1 2026 (quarter ended March 31, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Q1 net operating revenues rose 2.2% to $381.8M; adjusted net income surged 21.1% YoY to $30.1M, driven by 90% SNF occupancy, 3.2% per-diem growth, and $40M debt repayment.
Biggest Revenue Drivers
Total revenue: $381.8M+2.2% YoY
Skilled nursing, assisted/independent living, behavioral health; census 90.0% vs 89.3% prior year; composite per diem up 3.2%.
Homecare and hospice agencies revenue growth outpacing inpatient.
Rental income, management/accounting services fees, insurance services.
Largest Expense Items
Agency nurse staffing decreased to $1.1M from $1.5M YoY; labor shortage persists.
Patient care costs, drugs, medical supplies, professional liability insurance, utilities.
Property, plant, equipment depreciation.
Watch Items from the Filing
- Professional liability and workers' compensation reserves totaled $126.5M at Q1 2026 vs $121.6M at year-end 2025, representing significant exposure in high-litigation industry; claims could exceed insurance coverage limits.
- NHI real estate concentration: $131.9M (70% of $189.5M equity portfolio) invested in publicly-traded REIT; NHI chair overlaps with NHC Board; $560M acquisition announced April 2026 to purchase 35 facilities from NHI, pending Hart-Scott-Rodino approval.
- Medicare SNF reimbursement headwinds: FY2027 proposed net +2.4% rate increase offset by potential 3.6% system-wide case-mix reduction if CMS implements blanket adjustment, risking near-zero or negative reimbursement net change.
- Medicaid revenue concentration: 29% of net patient revenue; dependent on state budget health and rate negotiations; CMS signaling case-mix index scrutiny could constrain PDPM-based payments post-2019 implementation.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Revenue
Q1 2026
$381.8M
Net Income
Q1 2026
$35.9M
Free Cash Flow
Q1 2026
$52.9M
Operating Margin
Q1 2026
8.5%
D/E Ratio
Q1 2026
0.00
Revenue & Net Income
Earnings Per Share
Key Financials Over Time
Export Financial Table · Pro+Revenue
+41.3% YoYNet Income
-13.4% YoYOperating Income
+152.0% YoYEPS (Diluted)
-14.7% YoYTotal Assets
+8.8% YoYTotal Debt
Op. Cash Flow
+196.6% YoY| Metric | FY 2025 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|
| Revenue | $1.52B +41.3% | $1.07B +4.5% | $1.03B +3.2% | $996.4M +1.6% | $980.3M +1.7% | $963.9M |
| Net Income | $120.0M -13.4% | $138.6M +231.0% | $41.9M -38.6% | $68.2M +15.7% | $59.0M +4.9% | $56.2M |
| Operating Income | $128.4M +152.0% | $50.9M +5.8% | $48.2M -1.8% | $49.0M -12.6% | $56.1M +3.6% | $54.1M |
| EPS (Diluted) | $7.67 -14.7% | $8.99 +230.5% | $2.72 -38.7% | $4.44 +14.7% | $3.87 +4.9% | $3.69 |
| Total Assets | $1.53B +8.8% | $1.40B +3.0% | $1.36B +5.9% | $1.29B +19.0% | $1.08B -1.4% | $1.10B |
| Total Debt | $47.5M | — | $0.00 -100.0% | $20.0M -63.6% | $55.0M -45.0% | $100.0M |
| Operating Cash Flow | $185.1M +196.6% | $62.4M -69.3% | $203.3M +103.0% | $100.1M +1.7% | $98.4M +4.2% | $94.5M |
AI Insight: NHC Financial Trends
NHC eliminated all debt by Q1 2026 while equity climbed to $1,091M, marking a dramatic balance-sheet transformation over eight quarters.
• Total debt fell from $154M in Q3 2024 to $0M in Q1 2026, a full paydown in five quarters.
• Equity expanded steadily from $946M in Q2 2024 to $1,091M in Q1 2026, a $145M increase.
• Revenue grew from $301M in Q2 2024 to $387M in Q4 2025, though Q1 2026 dipped slightly to $382M.
• Operating income improved from $23M in Q2 2024 to $34M in Q2 2025, though it has oscillated between $30M–$34M since.
⚠ Operating cash flow remains volatile — swinging from $63M in Q2 2025 to just $17M in Q4 2025, then rebounding to $63M in Q1 2026.
⚠ Net income is lumpy: Q4 2024 posted only $6M versus $43M in Q3 2024 — earnings quality warrants scrutiny.
⚠ Revenue growth appears to be flattening near $380M–$387M across the last three quarters.
AI Insight: NHC Ratio Trends
NHC's leverage has been virtually eliminated — D/E fell from 0.16 in Q3 2024 to 0.00 in Q1 2026 — while operating margins hold steady near 8–9%.
• D/E ratio declined steadily from 0.16 in Q3 2024 to 0.00 in Q1 2026, signaling full debt elimination.
• Operating margin improved from a trough of 6.7% in Q3 2024 to 8.5–9.1% range across Q1 2025–Q1 2026.
• ROIC expanded from 8.0% in Q3 2024 to 11.8–12.0% by Q2 2025–Q1 2026, reflecting better capital efficiency.
• Net profit margin is volatile quarter-to-quarter, swinging from 1.7% in Q4 2024 to 12.6% in Q3 2024.
⚠ NPM volatility — ranging 1.7% to 12.6% across quarters — suggests recurring one-off items distorting earnings quality.
⚠ ROA dipped to 1.6% in Q4 2024 before recovering to 9.4% in Q1 2026; Q4 seasonality warrants monitoring.
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13F Pro tracks comprehensive data for NATIONAL HEALTHCARE CORP including:
Top Institutional Holders of NHC
BlackRock, Inc.
$302.7M1,895,250 shMorgan Stanley Institutional Investment Advisors LLC
$165.9M1,038,804 shDIMENSIONAL FUND ADVISORS LP
$151.2M946,977 shVANGUARD PORTFOLIO MANAGEMENT LLC
$126.1M789,421 shVANGUARD CAPITAL MANAGEMENT LLC
$87.8M549,548 shFIRST TRUST ADVISORS LP
$84.7M530,302 shSTATE STREET CORP
$78.8M491,575 shRENAISSANCE TECHNOLOGIES LLC
$53.6M335,517 shGEODE CAPITAL MANAGEMENT, LLC
$51.6M323,267 shCHARLES SCHWAB INVESTMENT MANAGEMENT INC
$28.5M178,598 sh
| Fund | Value | Shares |
|---|---|---|
| BlackRock, Inc. | $302.7M | 1,895,250 |
| Morgan Stanley Institutional Investment Advisors LLC | $165.9M | 1,038,804 |
| DIMENSIONAL FUND ADVISORS LP | $151.2M | 946,977 |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $126.1M | 789,421 |
| VANGUARD CAPITAL MANAGEMENT LLC | $87.8M | 549,548 |
| FIRST TRUST ADVISORS LP | $84.7M | 530,302 |
| STATE STREET CORP | $78.8M | 491,575 |
| RENAISSANCE TECHNOLOGIES LLC | $53.6M | 335,517 |
| GEODE CAPITAL MANAGEMENT, LLC | $51.6M | 323,267 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $28.5M | 178,598 |
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Popular Research
Is NHC a good stock to buy?
13F Pro's AI-powered analysis of NATIONAL HEALTHCARE CORP (NHC) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Healthcare sector (listed on NYSE). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for NHC are available on the NHC stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.
Which hedge funds own NHC?
Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling NHC. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of NATIONAL HEALTHCARE CORP's investment landscape.