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National Health Investors Balance Sheet 2025-2007 | NHI
Brief balance sheet overview of National Health Investors
The comparison uses five available annual reports from the 2021–2025 interval.
Assets ended near their starting level at $2.8 billion versus $2.8 billion. This was preservation of scale rather than expansion.
Liabilities followed the scale of the balance sheet: -4.9% versus -1.5% for assets. Leverage did not change materially.
Internal capital represents 54.4% of the balance sheet, previously 53.4%. This is a strong capital position.
Cash equals 0.7% of the balance sheet, compared with 1.3% five periods ago. This is the readily available cushion.
By the end of the period, accumulated earnings were $2.7 billion; the change from the start was .
Conclusion
National Health Investors's financial position is more positive than negative: the funding mix is workable, although the cushion is not unlimited.
Annual Balance Sheet National Health Investors
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
- | - | - | - | - | 1.45 B | 1.45 B | 1.29 B | 1.16 B | 1.13 B | 934 M | 881 M | 629 M | 184 M | 92.8 M | - | - | - | - |
Long Term Debt |
- | - | - | - | - | 1.5 B | 1.44 B | 1.28 B | 1.15 B | 1.12 B | 926 M | 863 M | 617 M | 95.3 M | 97.3 M | - | - | - | - |
Total Non Current Liabilities |
- | - | - | - | - | - | 1.52 B | 1.34 B | 1.21 B | 1.17 B | 984 M | 917 M | 671 M | 95.3 M | 108 M | - | - | - | - |
Total Liabilities |
1.26 B | 1.23 B | 1.21 B | 1.22 B | 1.32 B | 1.6 B | 1.54 B | 1.36 B | 1.22 B | 1.19 B | 1 B | 933 M | 679 M | 127 M | 136 M | 66.8 M | 24.7 M | - | - |
Deferred Revenue |
- | - | - | - | - | - | - | - | - | - | - | - | - | 1.63 M | - | - | - | - | - |
Retained Earnings |
2.75 B | 2.6 B | 2.47 B | 2.33 B | - | - | -5.33 M | 18.1 M | 32.6 M | 29.9 M | 19.9 M | -569 K | 3.04 M | 446 M | -29.7 M | - | - | - | - |
Total Assets |
2.8 B | 2.61 B | 2.49 B | 2.51 B | 2.84 B | 3.12 B | 3.04 B | 2.75 B | 2.55 B | 2.4 B | 2.15 B | 1.98 B | 1.46 B | 573 M | 580 M | 509 M | 459 M | - | - |
Cash and Cash Equivalents |
19.6 M | 24.3 M | 22.3 M | 19.3 M | 37.4 M | 46.3 M | 5.22 M | 4.66 M | 3.06 M | 4.64 M | 13.3 M | 3.29 M | 11.3 M | 9.17 M | 15.9 M | 2.66 M | 45.7 M | 100 M | 75.4 M |
Book Value |
1.54 B | 1.39 B | 1.27 B | 1.29 B | 1.52 B | 1.52 B | 1.5 B | 1.39 B | 1.32 B | 1.21 B | 1.14 B | 1.05 B | 777 M | 446 M | 443 M | 442 M | 435 M | - | - |
Total Shareholders Equity |
1.52 B | 1.37 B | 1.25 B | 1.28 B | 1.52 B | 1.52 B | 1.5 B | 1.39 B | 1.32 B | 1.21 B | 1.13 B | 1.04 B | 767 M | 457 M | 443 M | 442 M | 435 M | 430 M | 446 M |
All numbers in USD currency
Quarterly Balance Sheet National Health Investors
| 2026-Q1 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | 2010-Q3 | 2010-Q2 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Term Debt |
- | - | - | - | - | - | - | - | - | - | - | - | - | 400 M | 400 M | 400 M | 400 M | 400 M | 400 M | 400 M | - | 400 M | 400 M | 400 M | 400 M | 400 M | 400 M | 400 M | 400 M | - | - | - | - | - | - | - | 1.13 B | - | - | - | - | 250 M | 250 M | 250 M | 250 M | 250 M | 79.5 M | 79.8 M | 80.1 M | 370 M | 370 M | 80.1 M | - | 120 M | 120 M | 120 M | - | - | - | - | - | - |
Total Liabilities |
1.36 B | 1.19 B | 1.2 B | 1.34 B | 1.23 B | 1.21 B | 1.21 B | 1.21 B | 1.21 B | 1.22 B | 1.21 B | 1.24 B | 1.22 B | 1.18 B | 1.17 B | 1.31 B | 1.32 B | 1.36 B | 1.52 B | 1.62 B | 1.6 B | 1.64 B | 1.66 B | 1.66 B | 1.54 B | 1.54 B | 1.54 B | 1.54 B | 1.36 B | 1.36 B | 1.36 B | 1.36 B | 1.22 B | 1.22 B | 1.22 B | 1.22 B | 1.19 B | 1.19 B | 1.19 B | 1.19 B | 991 M | 991 M | 991 M | 991 M | 933 M | 933 M | 933 M | 933 M | 679 M | 679 M | 679 M | 679 M | 238 M | 238 M | 238 M | 238 M | 136 M | 136 M | 136 M | 136 M | 56.7 M | 71.4 M |
Retained Earnings |
2.79 B | 2.71 B | 2.68 B | 2.64 B | 2.6 B | 2.56 B | 2.53 B | 2.5 B | 2.47 B | 2.43 B | 2.41 B | 2.37 B | 2.33 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 29.9 M | - | - | - | 19.9 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Assets |
2.89 B | 2.69 B | 2.7 B | 2.78 B | 2.61 B | 2.46 B | 2.48 B | 2.48 B | 2.49 B | 2.5 B | 2.5 B | 2.53 B | 2.51 B | 2.51 B | 2.59 B | 2.8 B | 2.84 B | 2.91 B | 3.08 B | 3.18 B | 3.12 B | 3.14 B | 3.17 B | 3.17 B | 3.04 B | 3.04 B | 3.04 B | 3.04 B | 2.75 B | 2.75 B | 2.75 B | 2.75 B | 2.55 B | 2.55 B | 2.55 B | 2.55 B | 2.4 B | 2.4 B | 2.4 B | 2.4 B | 2.13 B | 2.13 B | 2.13 B | 2.13 B | 1.98 B | 1.98 B | 1.98 B | 1.98 B | 1.46 B | 1.46 B | 1.46 B | 1.46 B | 706 M | 706 M | 706 M | 706 M | 580 M | 580 M | 580 M | 580 M | 497 M | 510 M |
Cash and Cash Equivalents |
24.9 M | 81.6 M | 18.6 M | 135 M | 24.3 M | 15.6 M | 14.8 M | 11.4 M | 22.3 M | 16.6 M | 17.4 M | 13.9 M | 19.3 M | 28.8 M | 43.4 M | 36.1 M | 37.4 M | 48.4 M | 32.5 M | 113 M | 46.3 M | 42.2 M | 46.9 M | 46 M | 5.22 M | 5.22 M | 5.22 M | 5.22 M | 4.66 M | 4.66 M | 4.66 M | 4.66 M | 3.06 M | 3.06 M | 3.06 M | 3.06 M | 4.83 M | 4.83 M | 4.83 M | 4.83 M | 13.1 M | 13.3 M | 13.3 M | 13.3 M | 3.09 M | 3.29 M | 3.29 M | 3.29 M | 11.3 M | 11.3 M | 11.3 M | 11.3 M | 9.17 M | 9.17 M | 9.17 M | 9.17 M | 15.9 M | 15.9 M | 15.9 M | 15.9 M | 2.45 M | 11.7 M |
Book Value |
1.53 B | 1.5 B | 1.5 B | 1.44 B | 1.39 B | 1.25 B | 1.26 B | 1.27 B | 1.27 B | 1.28 B | 1.29 B | 1.29 B | 1.29 B | 1.33 B | 1.41 B | 1.49 B | 1.52 B | 1.55 B | 1.56 B | 1.56 B | 1.52 B | 1.5 B | 1.5 B | 1.51 B | 1.5 B | 1.5 B | 1.5 B | 1.5 B | 1.39 B | 1.39 B | 1.39 B | 1.39 B | 1.32 B | 1.32 B | 1.32 B | 1.32 B | 1.21 B | 1.21 B | 1.21 B | 1.21 B | 1.14 B | 1.14 B | 1.14 B | 1.14 B | 1.05 B | 1.05 B | 1.05 B | 1.05 B | 777 M | 777 M | 777 M | 777 M | 468 M | 468 M | 468 M | 468 M | 443 M | 443 M | 443 M | 443 M | 441 M | 439 M |
Total Shareholders Equity |
1.51 B | 1.48 B | 1.48 B | 1.43 B | 1.37 B | 1.24 B | 1.25 B | 1.26 B | 1.25 B | 1.27 B | 1.28 B | 1.28 B | 1.27 B | 1.32 B | 1.4 B | 1.49 B | 1.51 B | 1.55 B | 1.56 B | 1.55 B | 1.52 B | 1.49 B | 1.49 B | 1.5 B | 1.5 B | 1.5 B | 1.5 B | 1.5 B | 1.39 B | 1.39 B | 1.39 B | 1.39 B | 1.32 B | 1.33 B | 1.32 B | 1.32 B | 1.21 B | 1.21 B | 1.17 B | 1.13 B | 1.13 B | 1.13 B | 1.13 B | 1.13 B | 1.04 B | 1.04 B | 1.04 B | 1.04 B | 767 M | 767 M | 767 M | 767 M | 457 M | 457 M | 457 M | 457 M | 443 M | 443 M | 443 M | 443 M | 441 M | 439 M |
All numbers in USD currency
Balance Sheet is a fundamental financial report of National Health Investors, providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.
For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.
Features of balance sheet analysis- Vertical and horizontal analysis
Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods. - Asset quality
It is important to evaluate not only the amount of assets but also their liquidity and realizability. - Accounting for off-balance sheet liabilities
Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.
Balance sheet of other industry stocks – Reit healthcare
| Issuer | Price | % 24h | Market Cap | Country | |
|---|---|---|---|---|---|
 |
Global Medical REIT
GMRE
|
- | - | $ 2.37 B |  USA |
 |
Ventas
VTR
|
$ 97.72 | -0.43 % | $ 44.5 B | USA |
 |
Welltower
WELL
|
$ 241.08 | -1.02 % | $ 160 B | USA |
 |
Healthpeak Properties
PEAK
|
- | 2.09 % | $ 9.35 B | USA |
 |
The GEO Group
GEO
|
$ 29.95 | -2.57 % | $ 4.12 B | USA |
 |
LTC Properties
LTC
|
$ 41.68 | -0.5 % | $ 1.93 B | USA |
 |
Sabra Health Care REIT
SBRA
|
$ 22.05 | -0.94 % | $ 5.32 B | USA |
 |
Omega Healthcare Investors
OHI
|
$ 51.37 | -0.52 % | $ 15 B | USA |