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NHC Reports 2025 Year End Earnings

  • National HealthCare Corporation reported net operating revenues & grant income of $1.518 billion for 2025, a 16.1% increase from $1.307 billion in 2024.
  • Revenue growth was driven by an 8.4% increase in same-facility revenues & the August 1, 2024 acquisition of White Oak Manor, which added 22 healthcare operations.
  • GAAP net income attributable to NHC rose to $120.015 million in 2025 from $101.927 million in 2024.
  • Adjusted net income for 2025 reached $104.067 million, representing a 35.4% increase from $76.862 million in 2024, excluding unrealized gains & other non-GAAP adjustments.
  • Adjusted diluted earnings per share for 2025 were $6.65, up from $4.93 in 2024.
  • For the quarter ended December 31, 2025, GAAP net income was $24.849 million compared to $6.081 million in the same 2024 period.
  • Adjusted net income for the fourth quarter of 2025 was $28.774 million, a 10.9% increase from $25.954 million in the prior year quarter.
  • Adjusted diluted earnings per share for the fourth quarter of 2025 were $1.83, compared to $1.66 in the fourth quarter of 2024.
  • As of February 1, 2026, NHC affiliates operate 80 skilled nursing facilities with 10,329 beds, 26 assisted living communities, 9 independent living communities, 3 behavioral health hospitals, 34 homecare agencies, & 33 hospice agencies.
  • Total skilled nursing patient days for 2025 totaled 2.93 million, up from 2.56 million in 2024.
  • Average skilled nursing per diem for 2025 was $360.40, an increase from $346.46 in 2024.
  • Total assets as of December 31, 2025, were $1.526 billion, while NHC stockholders' equity increased to $1.069 billion from $980.2 million in 2024.
  • Current & long-term debt decreased to $40 million at year-end 2025 from $137 million in 2024.
  • Dividends declared per common share for 2025 totaled $2.53, compared to $2.42 in 2024.