NATIONAL HEALTH INVESTORS INC (NHI) FY2025 10-K Annual Report

Filed: Feb 26, 2026
Financials
Real Estate Investment TrustsSEC EDGAR

NATIONAL HEALTH INVESTORS INC (NHI) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 26, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.

NATIONAL HEALTH INVESTORS INC FY2025 10-K Analysis

Business Overview

  • Core business model: Investment in healthcare real estate and selective investments in healthcare operators
  • New emphasis on CMS final rule (Nov 2023) requiring Medicare/Medicaid SNFs to disclose ownership details publicly, increasing scrutiny on REITs and private equity
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Management Discussion & Analysis

  • Revenue and profit details for 2025 vs 2024 not disclosed in provided text
  • No segment performance data included for 2025 fiscal year
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Risk Factors

  • Regulatory risk from recent tax law OBBBA effective 2025; increases REIT TRS asset test from 20% to 25% and affects interest deduction limits
  • Geopolitical/macro risk: Exposure to operators under financial distress, e.g., Bickford’s non-performing mezzanine loan of $1.3M and going concern doubts
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NATIONAL HEALTH INVESTORS INC FY2025 Key Financial Metrics
XBRL

Revenue

$80M

+47.1% YoY

Net Income

$142M

+3.0% YoY

Net Margin

177.6%

-7597bp YoY

ROE

9.3%

-75bp YoY

Total Assets

$2.8B

+7.0% YoY

EPS (Diluted)

$3.02

-3.5% YoY

Operating Cash Flow

$237M

+13.9% YoY

Source: XBRL data from NATIONAL HEALTH INVESTORS INC FY2025 10-K filing on SEC EDGAR. All figures in USD.

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