NHCNYSEServices-Skilled Nursing Care FacilitiesUS GAAP · USD

National HealthCare Corporation

National HealthCare Corporation (NHC) operates a network of senior care and post-acute health businesses across the United States, including skilled nursing, assisted living, independent living, home health, hospice, and behavioral health hospitals. The company also earns fee income from management, accounting, insurance, and property leasing activities tied to healthcare facilities.

Kysy yhtiöstä
Liikevaihto1 518milj. USD
+16,1 %v/v
Liikevoitto (EBIT)128milj. USD
+49,7 %v/v
EBIT-marginaali8,5%
+1,9 %-yks.v/v
Nettotulos120milj. USD
+17,7 %v/v
Vapaa kassavirta149milj. USD
+86,5 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2020–2025

05001 0001 5002 000milj. USD2020: 1 028 milj. USD2020: EBIT 48 milj. USD20202021: 1 074 milj. USD2021: EBIT 51 milj. USD20212022: 1 086 milj. USD2022: EBIT 32 milj. USD20222023: 1 142 milj. USD2023: EBIT 57 milj. USD20232024: 1 307 milj. USD2024: EBIT 86 milj. USD20242025: 1 518 milj. USD2025: EBIT 128 milj. USD20251 518128
LiikevaihtoLiikevoitto (EBIT)

Liiketoiminta

Osuus liikevaihdosta
Inpatient services70 %

Operation of skilled nursing, assisted living, independent living, and behavioral health facilities.

Homecare and hospice services22 %

In-home care, skilled home health, and hospice services delivered through agency networks.

All other8 %

Rental income, management and accounting fees, insurance services, and corporate office costs.

Asiakkaat

NHC serves elderly patients and residents who need long-term care, rehabilitation, memory care, assisted living, or end-of-life support. A large portion of revenue is paid by Medicare, Medicaid, managed care, and private pay sources, so the company depends on both government reimbursement and private funding. It also serves third-party healthcare operators that buy management, accounting, insurance, and property leasing services.

Medicare patients

Patients needing short-stay rehabilitation and post-acute skilled nursing care reimbursed through Medicare.

Medicaid residents

Long-term care residents whose stays are funded by Medicaid and related state programs.

Private pay and other residents

Seniors and families paying directly for assisted living, independent living, and related services.

Managed care and other third-party payors

Commercial and managed care payors covering skilled nursing, home health, and hospice services.

Third-party healthcare operators

Operators that purchase management, accounting, insurance, and property-related services from NHC.

Strategia

NHC is focused on linking skilled nursing, senior living, home health, hospice, and behavioral health into a broader senior-care platform. Management emphasizes occupancy, patient care quality, and reimbursement mix, especially by attracting more Medicare and private-pay patients through rehabilitative services. It also works to reduce liability exposure and improve operating efficiency through care-quality programs and disciplined capital allocation.

Improve occupancy and censusLyhyt aikaväli

Facility utilization is a primary driver of revenue and operating leverage in skilled nursing and senior living.

Grow Medicare and private-pay mixKeskipitkä aikaväli

Higher-acuity rehab and private-pay residents can improve reimbursement and reduce dependence on lower-rate funding sources.

Integrate the senior-care continuumKeskipitkä aikaväli

Cross-referrals between SNF, home health, hospice, and senior living can strengthen retention and competitive positioning.

Reduce clinical and liability riskLyhyt aikaväli

Quality outcomes affect reputation, staffing, insurance costs, and legal exposure in a highly regulated business.

Maantiede

NHC operates in 9 states, with facilities concentrated in the Southeastern and Midwestern United States. Its footprint is local and regional rather than national, which makes census, staffing, and reimbursement dynamics highly market-specific. The company also owns and leases healthcare properties, so its geography affects both operating performance and real estate exposure.

Riskit

NHC is exposed to reimbursement pressure because a substantial share of revenue comes from Medicare, Medicaid, and managed care programs that can change rates or payment methods. The business is also labor-intensive and highly regulated, so staffing shortages, wage inflation, cybersecurity, and clinical liability can quickly affect margins and operations. Local competition and occupancy swings matter because facilities depend on referrals, reputation, and census to absorb fixed costs.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Labor availability and wage inflation1Professional liability and claims2Government reimbursement pressure3Occupancy and census volatility4Cybersecurity and HIPAA exposure5
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Labor availability and wage inflationVaikutus: KorkeaTodennäköisyys: Korkea

    Care delivery is labor-intensive and staffing shortages can force higher wages and agency use.

    KohdistuuNursingAidesTherapistsAdministrative staff
  2. Professional liability and claimsVaikutus: KorkeaTodennäköisyys: Korkea

    Clinical incidents can lead to litigation, reserve increases, and reputational damage.

    KohdistuuPressure ulcersFallsWeight lossOther care events
  3. Government reimbursement pressureVaikutus: KorkeaTodennäköisyys: Kohtalainen

    A substantial portion of revenue comes from Medicare, Medicaid, and other third-party payors subject to frequent rule changes.

    KohdistuuSkilled nursingHome healthHospice reimbursement
  4. Occupancy and census volatilityVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    Revenue depends on filling beds and units, while many facility costs are fixed or semi-fixed.

    Kohdistuu: Skilled nursing and assisted living facilities

  5. Cybersecurity and HIPAA exposureVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    The company stores sensitive patient and employee data and relies on third-party systems.

    Kohdistuu: Electronic health records and confidential health information

Kirjanpito

Harkinnanvaraiset erät
Net patient revenue recognition

Revenue is recorded net of expected concessions and depends on service timing and payer estimates.

Vaikutus: Can shift reported revenue and margins quarter to quarter

Accounts receivable and credit losses

Collections depend on government programs, managed care, and private payors.

Vaikutus: Affects bad debt expense and operating cash flow

Accrued risk reserves

The company is self-insured for workers' compensation and professional liability claims.

Vaikutus: Reserve changes can materially affect earnings

Retroactive reimbursement settlements

Government and third-party payor settlements can require later revenue adjustments.

Vaikutus: Creates earnings volatility and estimation risk

Samankaltaisia listattuja yhtiöitä

Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.

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Päivitetty: 24.9.2026