National Health Investors Inc (NHI) - Net Assets
Based on the latest financial reports, National Health Investors Inc (NHI) has net assets worth $1.53 Billion USD as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($2.89 Billion) and total liabilities ($1.36 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Also explore NHI total asset value for the complete picture of this company's asset base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $1.53 Billion |
| % of Total Assets | 53.03% |
| Annual Growth Rate | 27.48% |
| 5-Year Change | 1.51% |
| 10-Year Change | 27.31% |
| Growth Volatility | 3892.7 |
National Health Investors Inc - Net Assets Trend (1991–2025)
This chart illustrates how National Health Investors Inc's net assets have evolved over time, based on quarterly financial data. Check NHI goodwill-adjusted equity ratio to evaluate the tangible quality of the company's equity base.
Annual Net Assets for National Health Investors Inc (1991–2025)
The table below shows the annual net assets of National Health Investors Inc from 1991 to 2025. For live valuation and market cap data, see National Health Investors Inc (NHI) total market value.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $1.54 Billion | +11.17% |
| 2024-12-31 | $1.39 Billion | +8.72% |
| 2023-12-31 | $1.27 Billion | -1.23% |
| 2022-12-31 | $1.29 Billion | -14.97% |
| 2021-12-31 | $1.52 Billion | -0.39% |
| 2020-12-31 | $1.52 Billion | +1.65% |
| 2019-12-31 | $1.50 Billion | +7.81% |
| 2018-12-31 | $1.39 Billion | +5.11% |
| 2017-12-31 | $1.32 Billion | +9.30% |
| 2016-12-31 | $1.21 Billion | +5.88% |
| 2015-12-31 | $1.14 Billion | +8.81% |
| 2014-12-31 | $1.05 Billion | +35.10% |
| 2013-12-31 | $777.16 Million | +66.04% |
| 2012-12-31 | $468.05 Million | +5.54% |
| 2011-12-31 | $443.49 Million | +0.22% |
| 2010-12-31 | $442.50 Million | +1.81% |
| 2009-12-31 | $434.61 Million | +1.16% |
| 2008-12-31 | $429.62 Million | -3.70% |
| 2007-12-31 | $446.14 Million | +3.35% |
| 2006-12-31 | $431.67 Million | +1.58% |
| 2005-12-31 | $424.97 Million | -0.13% |
| 2004-12-31 | $425.54 Million | +3.88% |
| 2003-12-31 | $409.64 Million | +2.30% |
| 2002-12-31 | $400.43 Million | +0.66% |
| 2001-12-31 | $397.79 Million | +0.10% |
| 2000-12-31 | $397.41 Million | +1.21% |
| 1999-12-31 | $392.64 Million | -7.54% |
| 1998-12-31 | $424.66 Million | -4.37% |
| 1997-12-31 | $444.08 Million | +8.40% |
| 1996-12-31 | $409.68 Million | +14.76% |
| 1995-12-31 | $357.00 Million | +59.45% |
| 1994-12-31 | $223.90 Million | +122.56% |
| 1993-12-31 | $100.60 Million | +8.64% |
| 1992-12-31 | $92.60 Million | +23050.00% |
| 1991-12-31 | $400.00K | -- |
Equity Component Analysis
This analysis shows how different components contribute to National Health Investors Inc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 19226.3% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $483.00K | 0.03% |
| Other Components | $1.92 Billion | 126.37% |
| Total Equity | $1.52 Billion | 100.00% |
National Health Investors Inc Competitors by Market Cap
The table below lists competitors of National Health Investors Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
FIT Hon Teng Limited
F:0FJ
|
$3.65 Billion |
|
Societatea Energetica Electrica SA
RO:EL
|
$3.65 Billion |
|
Zhejiang Weiming Environment Protection Co Ltd
SHG:603568
|
$3.65 Billion |
|
WSFS Financial Corporation
NASDAQ:WSFS
|
$3.65 Billion |
|
Cleanaway Waste Management Ltd
AU:CWY
|
$3.65 Billion |
|
COPT Defense Properties
NYSE:CDP
|
$3.65 Billion |
|
Peyto Exploration&Development Corp
TO:PEY
|
$3.65 Billion |
|
Sime Darby Bhd
KLSE:4197
|
$3.64 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in National Health Investors Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 1,366,475,000 to 1,521,543,000, a change of 155,068,000 (11.3%).
- Net income of 142,177,000 contributed positively to equity growth.
- Dividend payments of 169,696,000 reduced retained earnings.
- Share repurchases of 181,533,000 reduced equity.
- New share issuances of 181,533,000 increased equity.
- Other factors increased equity by 182,587,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $142.18 Million | +9.34% |
| Dividends Paid | $169.70 Million | -11.15% |
| Share Repurchases | $181.53 Million | -11.93% |
| Share Issuances | $181.53 Million | +11.93% |
| Other Changes | $182.59 Million | +12.0% |
| Total Change | $- | 11.35% |
Book Value vs Market Value Analysis
This analysis compares National Health Investors Inc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 2.51x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 1468.19x to 2.51x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1991-12-31 | $0.06 | $81.10 | x |
| 1992-12-31 | $12.38 | $81.10 | x |
| 1993-12-31 | $8.04 | $81.10 | x |
| 1994-12-31 | $16.36 | $81.10 | x |
| 1995-12-31 | $20.62 | $81.10 | x |
| 1996-12-31 | $15.04 | $81.10 | x |
| 1997-12-31 | $17.64 | $81.10 | x |
| 1998-12-31 | $14.80 | $81.10 | x |
| 1999-12-31 | $16.11 | $81.10 | x |
| 2000-12-31 | $16.18 | $81.10 | x |
| 2001-12-31 | $16.26 | $81.10 | x |
| 2002-12-31 | $14.91 | $81.10 | x |
| 2003-12-31 | $15.18 | $81.10 | x |
| 2004-12-31 | $15.46 | $81.10 | x |
| 2005-12-31 | $15.27 | $81.10 | x |
| 2006-12-31 | $15.54 | $81.10 | x |
| 2007-12-31 | $16.06 | $81.10 | x |
| 2008-12-31 | $15.49 | $81.10 | x |
| 2009-12-31 | $15.74 | $81.10 | x |
| 2010-12-31 | $15.96 | $81.10 | x |
| 2011-12-31 | $15.96 | $81.10 | x |
| 2012-12-31 | $16.42 | $81.10 | x |
| 2013-12-31 | $26.99 | $81.10 | x |
| 2014-12-31 | $31.12 | $81.10 | x |
| 2015-12-31 | $30.11 | $81.10 | x |
| 2016-12-31 | $30.89 | $81.10 | x |
| 2017-12-31 | $32.13 | $81.10 | x |
| 2018-12-31 | $33.02 | $81.10 | x |
| 2019-12-31 | $34.27 | $81.10 | x |
| 2020-12-31 | $34.07 | $81.10 | x |
| 2021-12-31 | $33.17 | $81.10 | x |
| 2022-12-31 | $28.80 | $81.10 | x |
| 2023-12-31 | $28.90 | $81.10 | x |
| 2024-12-31 | $30.98 | $81.10 | x |
| 2025-12-31 | $32.34 | $81.10 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently National Health Investors Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 9.34%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 37.56%
- • Asset Turnover: 0.14x
- • Equity Multiplier: 1.84x
- Recent ROE (9.34%) is below the historical average (27.69%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1991 | 525.00% | 26.58% | 0.03x | 596.50x | $2.06 Million |
| 1992 | 14.36% | 33.76% | 0.15x | 2.80x | $4.04 Million |
| 1993 | 24.25% | 49.29% | 0.12x | 4.25x | $14.34 Million |
| 1994 | 17.37% | 54.48% | 0.11x | 2.84x | $16.51 Million |
| 1995 | 13.92% | 56.54% | 0.14x | 1.80x | $14.00 Million |
| 1996 | 16.39% | 67.55% | 0.13x | 1.83x | $26.20 Million |
| 1997 | 16.98% | 68.42% | 0.15x | 1.70x | $30.98 Million |
| 1998 | 16.40% | 68.08% | 0.13x | 1.81x | $27.18 Million |
| 1999 | 13.66% | 40.88% | 0.17x | 2.01x | $14.35 Million |
| 2000 | 8.49% | 22.86% | 0.19x | 1.93x | $-6.02 Million |
| 2001 | -0.02% | -0.05% | 0.21x | 1.69x | $-39.84 Million |
| 2002 | 7.69% | 17.92% | 0.26x | 1.63x | $-9.26 Million |
| 2003 | 10.69% | 26.96% | 0.26x | 1.52x | $2.84 Million |
| 2004 | 13.25% | 36.24% | 0.25x | 1.48x | $13.83 Million |
| 2005 | 12.80% | 34.57% | 0.27x | 1.38x | $11.91 Million |
| 2006 | 16.04% | 45.93% | 0.25x | 1.38x | $26.06 Million |
| 2007 | 21.62% | 154.76% | 0.12x | 1.12x | $51.82 Million |
| 2008 | 13.39% | 91.28% | 0.14x | 1.06x | $14.55 Million |
| 2009 | 14.78% | 100.01% | 0.14x | 1.06x | $20.77 Million |
| 2010 | 15.69% | 88.55% | 0.15x | 1.15x | $25.17 Million |
| 2011 | 18.29% | 98.10% | 0.14x | 1.31x | $36.78 Million |
| 2012 | 19.85% | 93.58% | 0.14x | 1.54x | $45.01 Million |
| 2013 | 13.85% | 90.12% | 0.08x | 1.90x | $29.53 Million |
| 2014 | 9.77% | 57.24% | 0.09x | 1.91x | $-2.38 Million |
| 2015 | 13.14% | 65.01% | 0.11x | 1.89x | $35.53 Million |
| 2016 | 12.53% | 60.98% | 0.10x | 1.99x | $30.58 Million |
| 2017 | 12.05% | 57.19% | 0.11x | 1.93x | $27.15 Million |
| 2018 | 11.11% | 52.39% | 0.11x | 1.98x | $15.36 Million |
| 2019 | 10.71% | 50.45% | 0.10x | 2.03x | $10.69 Million |
| 2020 | 12.16% | 55.62% | 0.11x | 2.05x | $32.83 Million |
| 2021 | 7.37% | 37.43% | 0.11x | 1.87x | $-39.89 Million |
| 2022 | 5.15% | 23.87% | 0.11x | 1.94x | $-62.59 Million |
| 2023 | 10.82% | 42.41% | 0.13x | 1.98x | $10.26 Million |
| 2024 | 10.10% | 41.17% | 0.13x | 1.91x | $1.34 Million |
| 2025 | 9.34% | 37.56% | 0.14x | 1.84x | $-9.98 Million |
Industry Comparison
This section compares National Health Investors Inc's net assets metrics with peer companies in the REIT - Healthcare Facilities industry.
Industry Context
- Industry: REIT - Healthcare Facilities
- Average net assets among peers: $1,664,271,800
- Average return on equity (ROE) among peers: 18968.48%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| National Health Investors Inc (NHI) | $1.53 Billion | 525.00% | 0.89x | $3.65 Billion |
| American Healthcare REIT, Inc. (AHR) | $1.10 Billion | -0.45% | 1.88x | $9.92 Billion |
| Community Healthcare Trust Inc (CHCT) | $4.00K | 189624.85% | -0.50x | $496.86 Million |
| CareTrust REIT Inc. (CTRE) | $452.43 Million | 6.49% | 1.05x | $9.83 Billion |
| Diversified Healthcare Trust (DHC) | $3.20 Billion | 4.42% | 1.26x | $2.19 Billion |
| Healthpeak Properties Inc (DOC) | $290.10 Million | 15.20% | 0.89x | $13.62 Billion |
| Global Medical REIT Inc. (GMRE) | $259.01 Million | -0.01% | 0.83x | $479.58 Million |
| Healthcare Realty Trust Incorporated (HR) | $1.01 Billion | 7.92% | 0.57x | $7.07 Billion |
| LTC Properties Inc (LTC) | $1.16 Billion | 10.15% | 0.77x | $1.88 Billion |
| Medical Properties Trust, Inc. (MPT) | $4.61 Billion | -6.01% | 2.26x | $2.91 Billion |
| Medical Properties Trust Inc (MPW) | $4.56 Billion | 22.29% | 0.94x | $2.78 Billion |
About National Health Investors Inc
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 cam… Read more