National Health Investors, Inc. (NHI)

National Health Investors Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Rental Revenue	268.24	257.05	249.23	217.7	271.05	307.21
Other Revenue	58.21	55.29	49.72	36.37	-1.55	-3.13
Total Revenue	350.6	335.58	320.39	278.76	297.17	329.69
Revenue Growth (YoY	7.21%	4.74%	14.93%	-6.19%	-9.86%	3.65%
Property Expenses	11.93	11.17	11.51	9.79	11.64	9.65
Selling, General & Administrative	26.35	21.79	19.82	25.32	19.34	14.56
Depreciation & Amortization	75.52	71.44	69.97	70.88	80.8	83.15
Provision for Loan Losses	1.87	-	-	-	-	-
Other Operating Expenses	42.94	42.29	40.04	29.04	0.79	0.53
Total Operating Expenses	154.88	146.69	141.34	135.03	112.56	107.89
Operating Income	195.72	188.9	179.05	143.74	184.61	221.79
Interest Expense	-59.52	-59.9	-58.16	-44.92	-50.81	-52.88
Other Non-Operating Income	-1.57	-	0.2	1.11	0.35	-
EBT Excluding Unusual Items	134.63	129	121.09	99.93	134.15	168.91
Gain (Loss) on Sale of Investments	6.26	6.26	-	-	-	-
Gain (Loss) on Sale of Assets	5.29	6.68	14.72	28.34	32.5	21.32
Asset Writedown	-	-0.65	-1.64	-51.56	-51.82	-
Other Unusual Items	-4.64	-4.64	0.21	-11.22	-2.86	-4.92
Pretax Income	141.54	136.64	134.38	65.5	111.97	185.31
Earnings From Continuing Operations	141.54	136.64	134.38	65.5	111.97	185.31
Minority Interest in Earnings	1.4	1.35	1.27	0.9	-0.16	-0.19
Net Income	142.93	137.99	135.65	66.4	111.8	185.13
Preferred Dividends & Other Adjustments	0.16	0.12	0.06	-	-	-
Net Income to Common	142.78	137.87	135.6	66.4	111.8	185.13
Net Income Growth	12.02%	1.72%	104.29%	-40.61%	-39.61%	15.38%
Basic Shares Outstanding	45	44	43	45	46	45
Diluted Shares Outstanding	46	44	43	45	46	45
Shares Change (YoY)	4.81%	1.64%	-3.14%	-2.04%	2.31%	2.28%
EPS (Basic)	3.16	3.14	3.13	1.48	2.45	4.14
EPS (Diluted)	3.14	3.13	3.13	1.48	2.44	4.14
EPS Growth	6.78%	0.15%	111.16%	-39.34%	-41.06%	12.81%
Dividend Per Share	3.600	3.600	3.600	3.600	3.803	4.410
Dividend Growth	-	-	-	-5.33%	-13.78%	5.00%
Operating Margin	55.83%	56.29%	55.88%	51.56%	62.12%	67.27%
Profit Margin	40.72%	41.08%	42.32%	23.82%	37.62%	56.15%
EBITDA	271.24	260.34	249.02	214.62	265.41	304.94
EBITDA Margin	77.37%	77.58%	77.72%	76.99%	89.31%	92.50%
D&A For Ebitda	75.52	71.44	69.97	70.88	80.8	83.15
EBIT	195.72	188.9	179.05	143.74	184.61	221.79
EBIT Margin	55.83%	56.29%	55.88%	51.56%	62.12%	67.27%
Funds From Operations (FFO)	209.94	200.65	190.37	158.96	211.08	246.18
FFO Per Share	4.61	4.55	4.39	3.55	4.62	5.51
Adjusted Funds From Operations (AFFO)	-	200.65	190.37	158.96	211.08	246.18
AFFO Per Share	-	4.55	4.39	3.55	4.62	5.51
FFO Payout Ratio	76.93%	78.00%	82.07%	101.77%	86.65%	79.04%
Revenue as Reported	348.66	335.18	319.84	278.19	298.72	332.81

Updated May 5, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.

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