Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $248M | $279M | $295M | $318M | $0.00 | $0.00 | $35.8M | $48.8M | $54.4M | $80.1M |
| Revenue growth | — | 12.2% | 5.7% | 8.0% | -100.0% | — | — | 36.4% | 11.5% | 47.1% |
| Net income | $152M | $159M | $154M | $160M | $185M | $112M | $66.4M | $136M | $138M | $142M |
| Net margin | 61.0% | 57.2% | 52.4% | 50.4% | — | — | 185.5% | 277.9% | 253.6% | 177.6% |
| EPS (diluted) | $3.87 | $3.87 | $3.67 | $3.67 | $4.14 | $2.44 | $1.48 | $3.13 | $3.13 | $3.02 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $177M | $198M | $208M | $241M | $232M | $211M | $185M | $184M | $208M | $237M |
| Capital expenditures | $395M | $176M | $148M | $237M | $117M | $50.3M | $11.0M | $49.6M | $158M | $294M |
| Free cash flow | -$218M | $22.3M | $60.2M | $3.77M | $115M | $161M | $174M | $135M | $49.8M | -$57.5M |
| Share buybacks | — | — | — | — | $0.00 | $0.00 | $152M | $0.00 | $0.00 | — |
| Dividends paid | $138M | $153M | $165M | $180M | $195M | $183M | $162M | $156M | $157M | $170M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $4.64M | $3.06M | $4.66M | $5.21M | $43.3M | $37.4M | $19.3M | $22.3M | $24.3M | $19.6M |
| Total assets | $2.40B | $2.55B | $2.75B | $3.04B | $3.12B | $2.84B | $2.51B | $2.49B | $2.61B | $2.80B |
| Total liabilities | $1.19B | $1.22B | $1.36B | $1.54B | $1.60B | $1.32B | $1.22B | $1.21B | $1.23B | $1.26B |
| Long-term debt | $1.13B | — | — | — | — | — | — | — | — | — |
| Shareholders' equity | $1.21B | $1.32B | $1.39B | $1.50B | $1.51B | $1.51B | $1.27B | $1.25B | $1.37B | $1.52B |
| Retained earnings | $29.9M | — | — | — | — | — | $2.33B | $2.47B | $2.60B | $2.75B |
| Shares (wtd avg diluted) | 39.2M | 41.2M | 42.1M | 43.7M | 44.7M | 45.7M | 44.8M | 43.4M | 44.1M | 47.1M |
Every figure is extracted from NATIONAL HEALTH INVESTORS INC’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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