National HealthCare Corporation (NHC) is a Healthcare stock trading at $224.59 (as of 2026-08-25), with a market capitalization of $3.52B and a trailing P/E of 23.2. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.
National HealthCare Corporation operates, manages, and provides services to skilled nursing facilities, assisted living facilities, independent living facilities, homecare and hospice agencies, and a behavioral health hospital. Its skilled nursing facilities offer licensed therapy services, nutrition services, social services, activities, and housekeeping and laundry services, as well as medical services prescribed by physicians; and rehabilitative services, such as physical, speech, respiratory, and occupational therapy for patients recovering from strokes, heart attacks, orthopedic conditions, neurological illnesses, or other illnesses, injuries, or disabilities. The company's medical specialty units comprise memory care units and sub-cute nursing units that provide specialized care and programs for persons with Alzheimer's or related disorders; and assisted living centers offer personal care services and assistance with general activities of daily living, such as dressing, bathing, meal preparation, and medication management. It also offers behavioral health services to both adults and geriatric patients with psychiatric, emotional, and addictive disorders. In addition, it provides health care programs that offer skilled services, such as infusion, wound care and physical, occupational, and speech therapies; hospice care services; operates pharmacies; offers management, accounting, financial, and insurance services; and leases its properties to third party operators. As of February 18, 2022, the company operated 75 skilled nursing facilities with 9,473 beds, 24 assisted living facilities, five independent living facilities, one behavioral health hospital, 34 homecare agencies, and 28 hospice agencies. National HealthCare Corporation was founded in 1971 and is based in Murfreesboro, Tennessee.
NHC operates skilled nursing, assisted living, independent living, homecare, and hospice facilities, earning revenue from Medicare, Medicaid, and private pay patient days. It is a pure-play senior care operator where per diem reimbursement rates and occupancy drive earnings.
Revenue equals beds times occupancy times per diem rate, all three constrained by government reimbursement schedules rather than free market pricing.
Business quality (Mixed): Steady cash generation from essential senior care services, but structurally capped margins and heavy government-payor dependence limit long-term upside.
Valuation: At 24× earnings, NHC trades in line with the Healthcare Services average (25×).
| Price | $224.59 |
| Market Cap | $3.52B |
| P/E Ratio | 23.2 |
| EV / EBITDA | 18.3 |
| Price / Book | 3.12 |
| Price / Sales | 2.26 |
| FCF Yield | 9.4% |
| DCF Value (model) | $90.88 |
| DCF Upside vs Price | -59.5% |
| Revenue (TTM) | $1.52B |
| Net Margin | 7.9% |
| Revenue Growth (YoY) | 16.1% |
| EPS Growth (YoY) | 17.2% |
| FCF Growth (YoY) | 86.5% |
| Altman Z-Score | 6.83 (safe) |
| Stock P/E | 23.2 |
| Sector P/E (Healthcare) | 21.9 |
| Industry P/E (Healthcare Services) | 25.4 |
| vs Sector | 5.8% |
| vs Industry | -8.6% |
| Top Institutional Holder | BlackRock, Inc. ($302.67M) |
| Institutional Holders Tracked | 10 |
| Sector | Healthcare |
| Industry | Healthcare Services |
| CEO | Stephen Fowler Flatt |
| Employees | 14,962 |
| Country | US |
| IPO Date | 1987-01-02 |
Data as of 2026-08-25.
Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.