National Health Investors Inc (NHI) Fair Value & Analysis
Real Estate · US · Market cap $3.4B · ISIN US63633D1046
What is National Health Investors Inc really worth?
National Health Investors Inc
NHI · US
A solid business, currently priced close to our fair value of $64.82.
Strengths
Risks
For context
Fair value as of: Sep 3, 2026
From 16 valuation models · updated yesterday
Share price −3.6% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits close to our fair value, market and models broadly agree here, little valuation tension.
- A fairly wide model range ($35.65 to $86.93) leaves room in how you read the outcome.
- As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 3, 2026.
How to read this chart
60‑month range $39.33 – $90.00 · fair‑value band $35.65 – $86.93 · the $71.91 price screens above the $64.82 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 3, 2026.
Analysis
National Health Investors Inc (NHI) currently trades at $71.91, while our model-based Fair Value estimate is $64.82, implying the stock looks roughly 10.9% fairly valued today. The Quality Score stands at 56/100 (solid quality), in the Real Estate sector. Bull case: the DCF Models group reads highest at a median of $59.47 per share, and 2 of the 16 models we run sit above the $71.91 price. Bear case: the Asset-Based group reads lowest at $21.03, and 14 of the 16 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, National Health Investors Inc generated revenue of $405M at a net margin of 36.6%. Revenue declined 2.6% year over year. It earns a return on equity of 9.9%. Net debt stands at $1.1B. Fundamentals as of Sep 3, 2026
Our scenario range runs from $35.65 (bear case) to $86.93 (bull case); at $71.91, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 20% below its 52-week high and 8% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at −49% fair-value upside, at −10%, NHI screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 16 models by family
Widest divergence: DCF Models ($59.47) versus Asset-Based ($21.03). Highest evidence: FCF DCF (77).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Sep 3, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 54 · Market factors (momentum, volatility) 49
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
National Health Investors, Inc. is a self-managed real estate investment trust specializing in sale-leaseback, joint venture, mortgage and mezzanine financing of need-driven and discretionary senior housing and medical facility investments.
Full company description
National Health Investors, Inc. is a self-managed real estate investment trust specializing in sale-leaseback, joint venture, mortgage and mezzanine financing of need-driven and discretionary senior housing and medical facility investments. NHI's portfolio consists of independent living facilities, assisted living and memory care communities, entrance-fee retirement communities, senior living campuses, skilled nursing facilities and specialty hospitals. National Health Investors, Inc. was established on October 15th 1991 and was incorporated in 1991 in Maryland and is based in Murfreesboro, Tennessee.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
National Health Investors Inc reported revenue of $379M in FY2025 versus $299M in FY2021, a compound +6.1%/yr. Reported net income was $142M in FY2025, compounding +6.2%/yr from FY2021.
of which total revenue +6.6 % · buybacks/dilution −3.1 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
Watch NHI: get an alert when its fair value changes →
Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- PEB or NHI: Which Is the Better Value Stock Right Now?
- National Health Investors Inc (NHI) (Q2 2026) Earnings Call Highlights: Strategic Pivot to SHOP ...
- National Health Investors Q2 Earnings Call Highlights
- National Health Investors, Inc. Q2 2026 Earnings Call Summary
Peer Group
REIT - Healthcare Facilities · 25 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs REIT - Healthcare Facilities median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more REIT - Healthcare Facilities stocks, each showing price versus our Fair Value estimate (as of Sep 3, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Welltower Inc WELL | $238.07 | $41.85 | −82% |
| Ventas, Inc VTR | $89.01 | $17.91 | −80% |
| Omega Healthcare Investors, Inc OHI | $45.99 | $29.19 | −37% |
| Healthpeak Properties, Inc DOC | $21.40 | $6.95 | −68% |
| American Healthcare REIT, Inc AHR | $56.19 | $10.94 | −81% |
| CareTrust REIT, Inc CTRE | $39.61 | $22.79 | −42% |
| Healthcare Realty Trust Incorporated HR | $19.39 | $20.60 | +6% |
| Aedifica NV AED | €66.55 | €34.97 | −47% |
| Chartwell Retirement Residences CSHUN | C$21.17 | C$3.49 | −84% |
| Sabra Health Care REIT, Inc SBRA | $20.39 | $10.49 | −49% |
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