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National Healthcare Corp key statistics and ratios

In fiscal 2025, National Healthcare Corp had return on equity of 11.7%, an operating margin of 8.5%, debt equal to 3.7% of equity and a current ratio of 1.82. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Operating margin6.6%5.6%5.7%4.9%4.7%4.7%2.9%5.0%6.9%8.5%9.3%
Net margin5.5%5.8%6.0%6.8%4.1%12.9%2.1%5.9%7.8%7.9%9.0%
Free-cash-flow margin3.1%6.4%7.0%7.4%17.6%2.1%−2.0%7.3%6.1%9.8%9.4%
Return on equity7.5%8.2%8.2%9.0%5.3%16.3%2.5%7.5%10.8%11.7%12.8%
Return on assets4.6%5.1%5.4%5.8%3.2%10.0%1.7%5.2%7.2%7.9%9.2%
Asset turnover0.850.880.900.840.780.780.810.880.920.991.02
Current ratio1.932.122.041.751.621.621.791.891.811.821.86
Debt to equity17.9%14.2%7.5%1.3%0.0%0.0%0.0%0.0%14.0%3.7%0.0%
Interest cover (operating income ÷ interest)15.4x11.1x11.9x15.6x34.4x60.3x56.7x177.3x21.7x20.1x56.6x
Effective tax rate——————26.6%26.4%25.2%24.5%22.9%
Capital spending as % of revenue6.8%3.4%3.0%2.6%2.1%3.7%2.8%2.4%2.1%2.4%2.7%
Free cash flow ÷ net income56.0%110.5%116.4%108.1%433.2%16.6%−95.6%124.7%78.2%123.8%104.5%
Dividends ÷ net income51.0%50.2%50.6%45.8%76.2%23.1%154.2%53.2%36.3%32.2%28.4%
Dividends and buybacks ÷ free cash flow120.2%45.5%44.7%43.5%17.6%142.9%—45.7%63.3%36.0%48.9%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

6 of 6 checks passed · June 30, 2026
What it owns · $1.5bn
Short-term assets $440mLonger-term assets $1.1bn
What it owes, and who funded it · $1.5bn
Short-term liabilities $236mLonger-term liabilities $173mShareholders' equity $1.1bn
  • Short-term assets cover short-term liabilities $440m of assets due within a year against $236m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $440m short-term assets against $173m of longer-dated liabilities.
  • More cash than debt $39m of cash against $0 of debt.
  • Debt below 40% of shareholders' equity Debt is 0% of equity.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt No debt to cover.
  • Operating profit covers interest at least five times over Operating income of $145m against $3m of interest.

From National Healthcare Corp's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

55 /100

Moderate moat

How hard National Healthcare's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 7 / 20

    Net income has been a median 5.3% of total assets over 10 years.

  • Durability 9 / 20

    Operating margin has been a median 5.5%; its worst year was 3.4%.

  • Cash conversion 13 / 20

    Free cash flow was positive in 8 of 9 years, at a median 7.4% of revenue.

  • Discipline 16 / 20

    The diluted share count rose 2.3% over five years; stock-based pay has been a median 0.2% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

Head to head: CON vs NHCBKD vs NHCNHC vs SGRYNHC vs SNDA

More: Health Care Facilities stocks compared, Health Care sector, rankings of US companies

Figures from National Healthcare Corp's SEC filings (10-K and 10-Q), retrieved October 26, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to National Healthcare Corp.