National HealthCare
Operator of skilled nursing and connected senior-care services across the Southeast and Midwest.
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Profile
Provides skilled nursing and a connected continuum of senior living, rehabilitation, home health, hospice, behavioral health, pharmacy, and institutional Medicare Advantage services. Patient services generate most revenue, with operations tied together through an ESOP-owned affiliate that employs its workforce.
Runs a continuum of senior-care services centered on skilled nursing: assisted and independent living, rehabilitation, home health, hospice, behavioral health, pharmacy, and an institutional Medicare Advantage plan. Its operations are concentrated across the Southeastern and Midwestern United States, with inpatient services serving as the economic center.
Earns most revenue from patient services while also managing facilities and providing accounting, insurance, and real-estate services. Referrals, rehabilitation capability, local reputation, and patient-centered care support its model.
Medicare and Medicaid collectively supply most patient revenue, while operations depend on labor availability, occupancy, referral relationships, and compliance with federal and state reimbursement, licensing, quality, and billing rules. All personnel, including management, are employed by an ESOP-owned administrative affiliate.
Company facts
Key statistics
Year to date +70.4% · Average volume (30d) 109.4K
Analysts
No analyst consensus on record.
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026Q2 FY26 | — | $2.54 | — | — | $408.0M | — | −0.90% |
| May 8, 2026Q1 FY26 | — | $1.91 | — | — | $381.8M | — | +0.49% |
| Feb 26, 2026Q4 FY25 | — | $1.83 | — | — | $386.5M | — | +2.08% |
| Nov 7, 2025Q3 FY25 | — | $1.58 | — | — | $382.7M | — | +2.83% |
Financial highlights
| 11 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $373.7M | $374.9M | $382.7M | $386.5M | $381.8M | $408.0M | |
| Gross profit | $145.6M | $148.4M | $149.5M | $153.3M | $146.7M | $166.1M | |
| Operating income | $30.8M | $34.1M | $30.4M | $33.1M | $32.3M | $48.9M | |
| Net income | $32.2M | $23.7M | $39.2M | $24.8M | $35.9M | $40.3M | |
| Diluted EPS | $2.07 | $1.52 | $2.50 | $1.58 | $2.27 | $2.54 | |
| Gross margin | 39.0% | 39.6% | 39.1% | 39.7% | 38.4% | 40.7% | |
| Operating margin | 8.2% | 9.1% | 7.9% | 8.6% | 8.4% | 12.0% |
Fiscal years (4-quarter sums)FY24 $1.30B · FY25 $1.52B
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $265.9M · Total debt $31.4M · Total assets $1.54B · Shareholders' equity $1.12B
Dividends
Raised for 21 straight years — most recently to $0.67 from $0.64 in Jun 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 30, 2026 | Jun 30 | Jul 31 | $0.67 | raised from $0.64 |
| Mar 31, 2026 | Mar 31 | Apr 30 | $0.64 | |
| Dec 31, 2025 | Dec 31 | Jan 30 | $0.64 | |
| Sep 30, 2025 | Sep 30 | Oct 31 | $0.64 | |
| Jun 30, 2025 | Jun 30 | Aug 1 | $0.64 | raised from $0.61 |
| Mar 28, 2025 | Mar 28 | Apr 25 | $0.61 | |
| Dec 30, 2024 | Dec 30 | Jan 31 | $0.61 | |
| Sep 30, 2024 | Sep 30 | Nov 1 | $0.61 |
Ownership
Shares outstanding 15.62M · Float 12.65M · 81.0% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 1.98M | 12.65% | 13F | Aug 7, 2026 |
| Morgan Stanley Institutional Investment Advisors LLC | 1.03M | 6.58% | 13F | Aug 13, 2026 |
| Dimensional Fund Advisors LP | 929.7K | 5.95% | 13F | Aug 11, 2026 |
| Vanguard Portfolio Management LLC | 809.2K | 5.18% | 13F | Aug 13, 2026 |
| First Trust Portfolios L.P. | 795.8K | 5.09% | 13G | Jul 27, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 25, 2026 | David R. Gifford | director | −1,779 | $225.42 |
| Aug 19, 2026 | Stephen Fowler Flatt | director, officer: CEO | −1,500 | $237.08 |
Peers
- The Ensign Group
Closest public peer in skilled nursing, rehabilitation, and senior living.
- Brookdale Senior Living
Broad senior-living rival in independent, assisted, and memory care.
- Addus HomeCare
Regional rival in home health and hospice services.
- Acadia Healthcare
Large behavioral-health operator competing for adult and geriatric care.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| National HealthCare | $222.70 | +0.21% | $3.48B | 25.1 | — | 2.2 | +9.4% |
| The Ensign Group | $172.98 | +0.01% | $10.08B | 27.1 | 21.2 | 1.8 | +17.3% |
| Brookdale Senior Living | $11.60 | −1.11% | $2.80B | — | 482.1 | 0.9 | −11.6% |
| Addus HomeCare | $115.55 | +0.02% | $2.16B | 20.3 | 16.1 | 1.5 | +8.0% |
| Acadia Healthcare | $28.55 | −0.04% | $2.66B | — | 17.2 | 0.8 | −0.4% |
| Median | 23.7 | 19.2 | 1.2 | +3.8% |