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National Healthcare Properties (NHP) Financials

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$13.65 +0.18 (+1.34%)
As of 09:45 AM Eastern
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Annual Income Statements for National Healthcare Properties

Annual Income Statements for National Healthcare Properties

This table shows National Healthcare Properties' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -42 -21 -43 -53 -88 -79 -93 -93 -86 -203 -71
Consolidated Net Income / (Loss)		 -42 -21 -43 -53 -88 -76 -85 -80 -72 -190 -58
Net Income / (Loss) Continuing Operations		 -42 -21 -43 -53 -88 -76 -85 -80 -72 -190 -58
Total Pre-Tax Income 		-45 -23 -42 -53 -88 -71 -85 -79 -72 -190 -58
Total Operating Income		 -36 -3.31 -12 -3.18 -32 -20 -37 -32 -4.74 -124 3.30
Total Gross Profit		 247 303 311 362 375 382 329 336 346 354 342
Total Revenue		 247 303 311 362 375 382 329 336 346 354 342
Operating Revenue		 247 303 311 362 - 382 329 336 346 354 342
Total Cost of Revenue		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Operating Expenses		 283 306 323 366 415 401 367 367 351 477 339
Selling, General & Admin Expense		 9.73 12 16 17 21 22 17 17 19 22 24
Depreciation Expense		 121 99 78 83 81 81 80 82 83 84 78
Other Operating Expenses / (Income)		 138 191 208 244 258 267 230 239 243 347 219
Impairment Charge		 0.00 0.39 19 21 56 36 41 28 4.68 25 45
Restructuring Charge		 15 3.16 2.99 0.30 0.36 0.17 2.71 1.48 0.55 7.95 0.52
Other Special Charges / (Income)		 - - - 0.07 -8.79 -5.23 -3.65 0.13 0.32 -9.31 -28
Total Other Income / (Expense), net		 -9.33 -20 -30 -50 -56 -52 -48 -48 -67 -67 -61
Interest Expense		 10 20 30 49 56 52 48 52 66 69 61
Other Income / (Expense), net		 0.58 0.08 0.42 -0.13 -0.06 -0.06 0.10 3.86 -1.26 2.60 0.20
Income Tax Expense		 -2.98 -2.08 0.65 0.20 0.40 4.06 0.20 0.20 0.30 0.26 0.16
Preferred Stock Dividends Declared		 - - 0.00 0.00 0.17 2.97 7.76 14 14 14 13
Net Income / (Loss) Attributable to Noncontrolling Interest		 -0.22 -0.10 -0.16 -0.22 -0.39 0.30 -0.26 -0.14 -0.08 -0.57 -0.06
Basic Earnings per Share		 ($0.49) ($0.24) ($0.47) ($0.56) ($0.88) ($0.74) ($0.82) ($3.30) ($3.04) ($7.19) ($2.51)
Weighted Average Basic Shares Outstanding		 85.33M 87.88M 89.80M 93.59M 100.09M 106.12M 112.97M 28.26M 28.28M 28.29M 28.30M
Diluted Earnings per Share		 ($0.49) ($0.24) ($0.47) ($0.56) ($0.88) ($0.74) ($0.82) ($3.30) ($3.04) ($7.19) ($2.51)
Weighted Average Diluted Shares Outstanding		 85.33M 87.88M 89.80M 93.59M 100.09M 106.12M 112.97M 28.26M 28.28M 28.29M 28.30M
Weighted Average Basic & Diluted Shares Outstanding		 85.33M 87.88M 89.80M 93.59M 94.43M 94.64M 100.74M 106.57M 113.19M 28.30M 28.41M

Quarterly Income Statements for National Healthcare Properties

This table shows National Healthcare Properties' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 -20 -28 -19 -120 -44 -20 -5.02 -24 -16 -26 -7.60
Consolidated Net Income / (Loss)		 -16 -25 -16 -117 -41 -17 -1.52 -21 -13 -23 -4.28
Net Income / (Loss) Continuing Operations		 -16 -25 -16 -117 -41 -17 -1.52 -21 -13 -23 -4.28
Total Pre-Tax Income 		-16 -25 -15 -117 -41 -17 -1.52 -21 -12 -23 -4.20
Total Operating Income		 -0.91 -6.58 -1.12 -100 -21 -1.06 13 -5.52 2.38 -6.58 10
Total Gross Profit		 86 87 88 89 89 88 86 85 86 84 86
Total Revenue		 86 87 88 89 89 88 86 85 86 84 86
Operating Revenue		 86 87 88 89 89 88 86 85 86 84 86
Total Cost of Revenue		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Operating Expenses		 87 93 89 189 110 88 73 91 84 91 76
Selling, General & Admin Expense		 4.75 4.82 6.77 4.67 5.50 5.50 4.90 5.41 5.67 7.90 5.47
Depreciation Expense		 21 21 21 22 21 21 24 19 18 18 18
Other Operating Expenses / (Income)		 61 62 62 160 71 55 58 54 54 54 53
Impairment Charge		 0.00 4.68 0.26 2.41 8.83 13 12 15 6.64 11 0.00
Restructuring Charge		 0.17 0.16 0.14 0.36 5.19 2.26 0.05 0.50 0.09 -0.12 0.05
Total Other Income / (Expense), net		 -15 -18 -14 -16 -20 -16 -15 -15 -15 -16 -14
Interest Expense		 16 16 16 18 18 17 15 16 15 16 15
Other Income / (Expense), net		 0.66 -2.35 2.02 1.34 -1.84 1.07 -0.02 0.26 0.22 -0.27 0.36
Income Tax Expense		 0.16 0.06 0.07 0.07 0.00 0.13 -0.01 0.00 0.07 0.10 0.08
Preferred Stock Dividends Declared		 3.45 3.45 3.45 3.45 3.45 3.45 3.45 3.39 3.33 3.28 3.29
Net Income / (Loss) Attributable to Noncontrolling Interest		 -0.01 -0.04 0.00 -0.45 -0.08 -0.04 0.05 -0.03 0.02 -0.11 0.03
Basic Earnings per Share		 ($0.69) ($2.02) ($0.67) ($4.24) ($1.56) ($0.72) ($0.18) ($0.85) ($0.56) ($0.92) ($0.27)
Weighted Average Basic Shares Outstanding		 28.28M 28.28M 28.29M 28.30M 28.29M 28.29M 28.30M 28.30M 28.30M 28.30M 28.34M
Diluted Earnings per Share		 ($0.69) ($2.02) ($0.67) ($4.24) ($1.56) ($0.72) ($0.18) ($0.85) ($0.56) ($0.92) ($0.27)
Weighted Average Diluted Shares Outstanding		 28.28M 28.28M 28.29M 28.30M 28.29M 28.29M 28.30M 28.30M 28.30M 28.30M 28.34M
Weighted Average Basic & Diluted Shares Outstanding		 111.55M 113.19M 113.24M 113.24M 28.30M 28.30M 28.30M 28.30M 28.43M 28.41M 72.90M

Annual Cash Flow Statements for National Healthcare Properties

This table details how cash moves in and out of National Healthcare Properties' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 -155 4.07 69 -11 20 -21 -4.96 -8.84 15 -17 34
Net Cash From Operating Activities		 69 79 64 54 47 42 39 28 22 -80 6.95
Net Cash From Continuing Operating Activities		 69 79 64 54 47 36 39 28 22 -80 6.95
Net Income / (Loss) Continuing Operations		 -42 -21 -43 -53 -88 -76 -85 -80 -72 -190 -58
Consolidated Net Income / (Loss)		 -42 -21 -43 -53 -88 -76 -85 -80 -72 -190 -58
Depreciation Expense		 121 99 78 83 81 81 80 82 83 84 78
Amortization Expense		 1.70 2.75 4.83 8.37 9.01 4.12 5.13 4.73 1.71 0.82 6.64
Non-Cash Adjustments To Reconcile Net Income		 6.91 15 32 37 55 35 40 29 13 21 24
Changes in Operating Assets and Liabilities, net		 -19 -17 -7.43 -22 -9.36 -8.63 -0.43 -7.43 -4.07 4.47 -44
Net Cash From Investing Activities		 -557 -19 -194 -115 -46 -82 -48 -42 -63 64 70
Net Cash From Continuing Investing Activities		 -557 -19 -194 -115 -46 -82 -48 -42 -63 64 70
Purchase of Property, Plant & Equipment		 -577 -46 -197 -141 -109 -22 -178 -54 -58 -28 -29
Purchase of Investments		 -0.09 - - - - -95 0.00 0.00 -9.96 -1.71 -1.38
Sale of Property, Plant & Equipment		 - - 0.76 26 62 - - - - - 100
Net Cash From Financing Activities		 333 -56 200 50 19 19 4.08 4.64 56 -1.35 -42
Net Cash From Continuing Financing Activities		 333 -56 200 50 19 19 4.08 4.64 56 -1.35 -42
Repayment of Debt		 -30 -74 -407 -147 -456 -29 -302 -11 -210 -25 -29
Repurchase of Preferred Equity		 - - - - - - - - 0.00 0.00 -5.42
Repurchase of Common Equity		 -11 -12 -34 -14 -21 -11 - - 0.00 0.00 -1.22
Payment of Dividends		 -67 -76 -77 -56 -52 -35 -5.19 -14 -14 -14 -14
Issuance of Debt		 440 107 717 266 512 95 168 30 275 37 0.00
Issuance of Common Equity		 0.51 0.00 0.47 - - - 0.00 0.00 0.28 0.00 0.00
Other Financing Activities, net		 0.00 -0.03 -0.21 -0.13 -2.15 -0.10 -0.09 0.00 5.41 0.00 6.67
Cash Interest Paid		 7.87 19 26 43 48 48 43 45 64 61 54
Cash Income Taxes Paid		 0.37 0.34 0.03 0.41 0.45 0.32 0.31 0.57 0.45 0.42 -0.01

Quarterly Cash Flow Statements for National Healthcare Properties

This table details how cash moves in and out of National Healthcare Properties' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -14 0.03 -15 4.56 3.94 -11 52 -23 -0.63 5.92 -1.85
Net Cash From Operating Activities		 5.68 5.27 2.54 6.39 -95 6.45 -21 8.05 10 9.96 9.01
Net Cash From Continuing Operating Activities		 5.68 5.27 2.54 6.39 -95 6.45 -21 8.05 10 9.96 8.93
Net Income / (Loss) Continuing Operations		 -16 -25 -16 -117 -41 -17 -1.52 -21 -13 -23 -4.28
Consolidated Net Income / (Loss)		 -16 -25 -16 -117 -41 -17 -1.52 -21 -13 -23 -4.28
Depreciation Expense		 21 21 21 22 21 21 24 19 18 18 18
Amortization Expense		 -0.97 -0.98 -0.91 0.71 0.75 0.27 3.19 1.35 0.59 1.52 -0.58
Non-Cash Adjustments To Reconcile Net Income		 1.78 8.17 0.55 103 -86 4.43 -12 14 8.30 13 0.99
Changes in Operating Assets and Liabilities, net		 0.23 1.57 -2.28 -1.90 11 -1.91 -34 -5.11 -4.22 0.06 -4.94
Net Cash From Investing Activities		 -15 -14 -12 -3.36 74 5.41 78 -1.90 -3.01 -3.33 -5.42
Net Cash From Continuing Investing Activities		 -15 -14 -12 -3.36 74 5.41 78 -1.90 -3.01 -3.33 -5.42
Purchase of Property, Plant & Equipment		 -15 -8.40 -11 -6.00 -5.24 -5.51 -5.67 -6.95 -4.59 -12 -5.27
Purchase of Investments		 - -5.38 -1.45 -0.26 - - 0.00 - - -1.38 -0.15
Sale and/or Maturity of Investments		 - - 0.00 2.90 79 11 - 5.05 1.58 - 0.00
Net Cash From Financing Activities		 -5.22 8.55 -5.23 1.53 25 -23 -4.50 -29 -7.80 -0.71 -5.45
Net Cash From Continuing Financing Activities		 -5.22 8.55 -5.23 1.53 25 -23 -4.50 -29 -7.80 -0.71 -5.45
Repayment of Debt		 -1.73 -2.71 -1.44 -2.23 -1.74 -19 -1.65 -24 -1.66 -1.92 -1.66
Payment of Dividends		 -3.50 -3.50 -3.50 -3.50 -3.50 -3.49 -3.50 -3.43 -3.37 -3.33 -3.34
Other Financing Activities, net		 - - 0.00 - - - 0.65 - - - -0.44
Cash Interest Paid		 - - - - - - 13 - - - 14
Cash Income Taxes Paid		 - - - - - - 0.18 - - - 0.15

Annual Balance Sheets for National Healthcare Properties

This table presents National Healthcare Properties' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 2,270 2,194 2,372 2,377 2,325 2,287 2,214 2,180 2,145 1,946 1,712
Total Current Assets		 46 55 163 173 206 107 92 88 82 54 90
Cash & Equivalents		 24 29 94 77 96 72 60 54 46 22 58
Accounts Receivable		 - - - - - - - - - 5.85 9.25
Prepaid Expenses		 22 22 22 29 40 35 33 35 36 26 23
Plant, Property, & Equipment, net		 1,932 2,114 2,176 2,171 1,784 2,109 1,762 1,686 1,646 1,485 1,272
Plant, Property & Equipment, gross		 2,079 2,121 2,229 2,297 2,211 2,346 2,324 2,296 2,328 2,210 1,963
Accumulated Depreciation		 147 241 310 382 427 513 563 609 682 726 691
Total Noncurrent Assets		 292 259 290 304 335 347 361 406 417 408 350
Noncurrent Note & Lease Receivables		 11 12 15 17 21 37 24 25 26 23 21
Intangible Assets		 241 235 257 256 270 276 288 292 293 284 247
Other Noncurrent Operating Assets		 39 12 18 30 44 33 48 89 97 100 82
Total Liabilities & Shareholders' Equity		 2,270 2,194 2,372 2,377 2,325 2,287 2,214 2,180 2,145 1,946 1,712
Total Liabilities		 668 689 1,016 1,137 1,219 1,326 1,174 1,181 1,245 1,256 1,107
Total Current Liabilities		 38 521 584 650 655 718 43 579 413 455 717
Short-Term Debt		 - 482 535 603 605 675 - 530 361 362 669
Accounts Payable		 38 27 38 40 43 42 43 45 49 90 44
Dividends Payable		 - 13 11 6.64 6.90 0.74 - 3.50 3.50 3.50 3.34
Total Noncurrent Liabilities		 630 163 425 480 555 608 1,131 602 832 801 390
Long-Term Debt		 587 143 407 463 528 543 1,086 579 809 779 368
Capital Lease Obligations		 23 20 19 17 21 20 11 17 16 14 13
Noncurrent Deferred Revenue		 4.36 - - - - 6.91 8.62 5.93 6.50 7.22 9.25
Other Noncurrent Operating Liabilities		 15 - - 0.00 5.31 38 25 - - 0.00 0.19
Commitments & Contingencies		 - - - - - - - - - 0.00 0.00
Total Equity & Noncontrolling Interests		 1,602 1,504 1,356 1,241 1,107 961 1,040 999 901 690 605
Total Preferred & Common Equity		 1,592 1,495 1,348 1,233 1,101 957 1,034 993 894 685 600
Preferred Stock		 0.00 - - - 0.02 0.02 0.08 0.08 0.08 0.08 0.07
Total Common Equity		 1,592 1,495 1,348 1,233 1,101 957 1,034 993 894 684 600
Common Stock		 1,908 1,982 2,010 2,033 2,080 2,105 2,331 2,418 2,510 2,535 2,532
Accumulated Other Comprehensive Income / (Loss)		 -0.01 0.00 2.47 4.58 -7.04 -40 -14 37 23 17 5.60
Other Equity Adjustments		 - - - - - - - -1,462 -1,640 -1,867 -1,938
Noncontrolling Interest		 9.70 8.87 8.51 7.80 5.41 4.39 6.70 6.55 6.43 5.57 4.46

Quarterly Balance Sheets for National Healthcare Properties

This table presents National Healthcare Properties' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 2,185 2,172 2,134 2,113 1,998 1,832 1,759 1,739 1,698
Total Current Assets		 105 87 70 65 66 103 81 88 84
Cash & Equivalents		 72 51 29 29 33 71 47 47 53
Accounts Receivable		 - - - - - 8.10 9.31 10 9.19
Prepaid Expenses		 33 36 41 36 33 24 23 25 22
Plant, Property, & Equipment, net		 1,669 1,665 1,637 1,620 1,524 1,358 1,315 1,292 1,260
Plant, Property & Equipment, gross		 2,313 2,328 2,338 2,340 2,249 2,029 1,986 1,974 1,968
Accumulated Depreciation		 644 664 701 720 725 671 671 682 707
Total Noncurrent Assets		 411 420 428 428 407 370 363 358 353
Noncurrent Note & Lease Receivables		 26 26 26 26 23 20 20 21 22
Intangible Assets		 292 293 296 295 290 256 250 248 247
Other Noncurrent Operating Assets		 93 101 106 108 94 94 93 89 85
Total Liabilities & Shareholders' Equity		 2,185 2,172 2,134 2,113 1,998 1,832 1,759 1,739 1,698
Total Liabilities		 1,226 1,232 1,250 1,351 1,289 1,152 1,106 1,106 1,102
Total Current Liabilities		 395 399 407 509 452 419 387 386 714
Short-Term Debt		 349 348 360 365 364 361 338 336 668
Accounts Payable		 42 48 48 144 84 55 46 46 43
Dividends Payable		 3.50 3.50 - - 3.50 3.50 3.43 3.37 3.34
Total Noncurrent Liabilities		 831 832 842 842 838 733 719 720 388
Long-Term Debt		 809 809 817 817 817 711 697 697 368
Capital Lease Obligations		 17 17 16 15 15 14 13 13 13
Noncurrent Deferred Revenue		 5.48 6.90 6.54 6.47 5.72 8.28 9.35 10 6.93
Other Noncurrent Operating Liabilities		 - - 3.50 3.50 - - - - 0.00
Commitments & Contingencies		 - - - - - - - - 0.00
Total Equity & Noncontrolling Interests		 960 941 884 763 708 680 652 633 597
Total Preferred & Common Equity		 953 934 878 757 703 675 647 627 592
Preferred Stock		 0.08 0.08 0.08 0.08 0.08 0.08 0.08 0.07 0.07
Total Common Equity		 953 934 878 757 703 675 647 627 592
Common Stock		 2,464 2,487 2,534 2,535 2,535 2,535 2,534 2,532 2,533
Accumulated Other Comprehensive Income / (Loss)		 35 35 26 24 14 12 9.44 7.56 5.08
Other Equity Adjustments		 -1,546 -1,588 -1,682 -1,802 -1,847 -1,872 -1,896 -1,912 -1,946
Noncontrolling Interest		 6.66 6.58 6.36 5.84 5.66 5.54 5.45 5.43 4.39

Annual Metrics And Ratios for National Healthcare Properties

This table displays calculated financial ratios and metrics derived from National Healthcare Properties' official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 323.50% 22.25% 2.84% 16.46% 3.45% 1.79% -13.69% 1.97% 3.00% 2.27% -3.25%
EBITDA Growth		 2,245.46% 12.34% -28.19% 24.91% -34.08% 12.12% -26.86% 23.88% 32.94% -145.89% 345.16%
EBIT Growth		 -4.26% 90.78% -265.47% 71.95% -862.21% 37.42% -87.34% 25.86% 78.33% -1,916.10% 102.89%
NOPAT Growth		 -3.73% 90.71% -269.40% 74.00% -900.88% 37.49% -88.38% 15.74% 84.98% -2,507.45% 102.67%
Net Income Growth		 -11.26% 50.02% -103.68% -24.04% -66.69% 14.49% -13.15% 6.81% 9.09% -162.87% 69.68%
EPS Growth		 33.78% 51.02% -95.83% -19.15% -57.14% 15.91% -10.81% -302.44% 7.88% -136.51% 65.09%
Operating Cash Flow Growth		 1,162.34% 14.63% -18.75% -15.35% -12.46% -11.81% -7.00% -27.22% -23.58% -469.25% 108.71%
Free Cash Flow Firm Growth		 64.18% 68.35% 50.57% 24.16% 659.82% -179.88% 197.51% -106.59% 245.17% 352.82% 77.20%
Invested Capital Growth		 33.81% 8.25% 3.46% 2.71% -16.13% 13.87% -13.53% -0.11% -1.54% -10.57% -12.43%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.54% 0.27% -0.94%
EBITDA Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -7.34% 20.89% -8.59%
EBIT Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -445.36% 6.88% -66.22%
NOPAT Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -68.55% 4.28% -62.61%
Net Income Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -9.28% 3.95% -11.13%
EPS Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -153.33% 15.31% -8.66%
Operating Cash Flow Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -16.71% -8.21% 1.47% 101.71%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 28.12% -8.79%
Invested Capital Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -1.09% -2.51% -1.77%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
EBITDA Margin		 35.40% 32.53% 22.71% 24.36% 15.52% 17.10% 14.49% 17.60% 22.72% -10.19% 25.83%
Operating Margin		 -14.39% -1.09% -3.93% -0.88% -8.48% -5.21% -11.37% -9.39% -1.37% -34.92% 0.96%
EBIT Margin		 -14.15% -1.07% -3.79% -0.91% -8.50% -5.22% -11.34% -8.24% -1.73% -34.19% 1.02%
Profit (Net Income) Margin		 -16.95% -6.93% -13.73% -14.62% -23.55% -19.79% -25.94% -23.71% -20.92% -53.78% -16.85%
Tax Burden Percent		 93.37% 90.96% 101.54% 100.37% 100.45% 105.68% 100.24% 100.25% 100.42% 100.14% 100.28%
Interest Burden Percent		 128.29% 713.97% 356.45% 1,594.59% 276.01% 358.50% 228.29% 286.92% 1,201.48% 157.10% -1,643.54%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 -1.30% -0.10% -0.36% -0.09% -0.96% -0.62% -1.17% -1.06% -0.16% -4.47% 0.13%
ROIC Less NNEP Spread (ROIC-NNEP)		 -8.28% -2.68% -3.84% -4.37% -6.76% -5.65% -5.95% -6.51% -6.38% -13.57% -5.49%
Return on Net Nonoperating Assets (RNNOA)		 -1.21% -1.25% -2.63% -3.99% -6.56% -6.69% -7.37% -6.74% -7.46% -19.45% -9.05%
Return on Equity (ROE)		 -2.52% -1.35% -2.99% -4.08% -7.52% -7.30% -8.54% -7.81% -7.62% -23.92% -8.91%
Cash Return on Invested Capital (CROIC)		 -30.23% -8.03% -3.75% -2.76% 16.59% -13.58% 13.34% -0.95% 1.39% 6.69% 13.39%
Operating Return on Assets (OROA)		 -1.70% -0.14% -0.52% -0.14% -1.35% -0.86% -1.66% -1.26% -0.28% -5.91% 0.19%
Return on Assets (ROA)		 -2.03% -0.94% -1.87% -2.23% -3.76% -3.27% -3.80% -3.62% -3.35% -9.30% -3.15%
Return on Common Equity (ROCE)		 -2.50% -1.34% -2.97% -4.05% -7.48% -7.27% -8.49% -7.76% -7.57% -23.74% -8.84%
Return on Equity Simple (ROE_SIMPLE)		 -2.64% -1.40% -3.17% -4.30% -8.02% -7.89% -8.27% -8.02% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -25 -2.31 -8.55 -2.22 -22 -14 -26 -22 -3.32 -86 2.31
NOPAT Margin		 -10.07% -0.77% -2.75% -0.61% -5.94% -3.65% -7.96% -6.57% -0.96% -24.44% 0.67%
Net Nonoperating Expense Percent (NNEP)		 6.97% 2.57% 3.49% 4.28% 5.80% 5.04% 4.78% 5.44% 6.22% 9.10% 5.62%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - -1.04% -0.16% -4.69% 0.14%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 3.93% 4.00% 5.04% 4.77% 5.48% 5.65% 5.11% 5.15% 5.47% 6.34% 7.07%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 114.39% 101.09% 103.93% 100.88% 110.82% 105.21% 111.37% 109.39% 101.37% 134.81% 99.04%
Earnings before Interest and Taxes (EBIT)		 -35 -3.23 -12 -3.31 -32 -20 -37 -28 -6.00 -121 3.50
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 88 98 71 88 58 65 48 59 79 -36 88
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.44 0.18 0.00 0.00 0.88
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.61 0.26 0.00 0.00 1.50
Price to Revenue (P/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00 1.37 0.54 0.00 0.00 1.55
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 9.85%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.72 0.61 0.00 0.00 0.95
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00 4.54 3.76 0.00 0.00 4.46
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 31.35 21.34 0.00 0.00 17.27
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 436.16
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 660.84
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 38.48 44.57 0.00 0.00 219.62
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 5.01 0.00 0.00 0.00 6.65
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.38 0.43 0.71 0.87 1.04 1.29 1.05 1.13 1.32 1.67 1.74
Long-Term Debt to Equity		 0.38 0.11 0.31 0.39 0.50 0.59 1.05 0.60 0.92 1.15 0.63
Financial Leverage		 0.15 0.47 0.68 0.91 0.97 1.18 1.24 1.04 1.17 1.43 1.65
Leverage Ratio		 1.24 1.44 1.60 1.83 2.00 2.23 2.25 2.15 2.28 2.57 2.83
Compound Leverage Factor		 1.59 10.26 5.69 29.16 5.53 8.00 5.13 6.18 27.36 4.04 -46.44
Debt to Total Capital		 27.59% 29.99% 41.46% 46.59% 51.06% 56.27% 51.33% 52.99% 56.84% 62.61% 63.46%
Short-Term Debt to Total Capital		 0.00% 22.41% 23.09% 25.94% 26.76% 30.68% 0.00% 24.95% 17.30% 19.62% 40.44%
Long-Term Debt to Total Capital		 27.59% 7.58% 18.37% 20.66% 24.30% 25.59% 51.33% 28.05% 39.54% 42.99% 23.02%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.44% 0.41% 0.37% 0.34% 0.24% 0.20% 0.31% 0.31% 0.31% 0.30% 0.27%
Common Equity to Total Capital		 71.97% 69.60% 58.17% 53.07% 48.70% 43.53% 48.35% 46.69% 42.84% 37.08% 36.26%
Debt to EBITDA		 6.97 6.55 13.59 12.26 19.84 18.96 22.99 19.06 15.10 -32.05 11.88
Net Debt to EBITDA		 6.69 6.21 12.14 11.23 18.20 17.85 21.74 18.15 14.50 -31.45 11.23
Long-Term Debt to EBITDA		 6.97 1.66 6.02 5.44 9.44 8.62 22.99 10.09 10.50 -22.00 4.31
Debt to NOPAT		 -24.48 -278.39 -112.30 -486.94 -51.89 -88.94 -41.87 -51.02 -357.66 -13.36 454.58
Net Debt to NOPAT		 -23.50 -264.05 -100.31 -445.85 -47.59 -83.74 -39.59 -48.59 -343.67 -13.11 429.64
Long-Term Debt to NOPAT		 -24.48 -70.39 -49.75 -215.88 -24.69 -40.45 -41.87 -27.00 -248.81 -9.17 164.91
Altman Z-Score		 0.00 0.00 0.00 0.00 0.00 0.00 -0.46 -0.07 0.00 0.00 0.05
Noncontrolling Interest Sharing Ratio		 0.59% 0.60% 0.61% 0.63% 0.56% 0.48% 0.56% 0.66% 0.69% 0.76% 0.79%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.20 0.11 0.28 0.27 0.31 0.15 2.16 0.15 0.20 0.12 0.13
Quick Ratio		 0.64 0.06 0.16 0.12 0.15 0.10 1.40 0.09 0.11 0.06 0.09
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -578 -183 -90 -69 384 -307 299 -20 29 130 230
Operating Cash Flow to CapEx		 11.90% 170.32% 32.56% 47.06% 102.50% 190.97% 21.80% 52.86% 37.50% -290.20% 0.00%
Free Cash Flow to Firm to Interest Expense		 -55.78 -9.20 -2.99 -1.39 6.84 -5.95 6.24 -0.38 0.43 1.87 3.76
Operating Cash Flow to Interest Expense		 6.63 3.96 2.11 1.09 0.85 0.81 0.81 0.55 0.33 -1.15 0.11
Operating Cash Flow Less CapEx to Interest Expense		 -49.09 1.63 -4.38 -1.23 0.02 0.39 -2.91 -0.49 -0.55 -1.55 1.28
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.12 0.14 0.14 0.15 0.16 0.17 0.15 0.15 0.16 0.17 0.19
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 45.33
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.15 0.15 0.15 0.17 0.19 0.20 0.17 0.19 0.21 0.23 0.25
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 8.05
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 8.05
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 2,188 2,368 2,450 2,516 2,110 2,403 2,078 2,076 2,044 1,828 1,600
Invested Capital Turnover		 0.13 0.13 0.13 0.15 0.16 0.17 0.15 0.16 0.17 0.18 0.20
Increase / (Decrease) in Invested Capital		 553 181 82 66 -406 293 -325 -2.37 -32 -216 -227
Enterprise Value (EV)		 0.00 0.00 0.00 0.00 0.00 0.00 1,496 1,261 0.00 0.00 1,527
Market Capitalization		 0.00 0.00 0.00 0.00 0.00 0.00 452 182 0.00 0.00 530
Book Value per Share		 $18.84 $17.25 $14.99 $13.60 $11.99 $10.40 $10.88 $9.45 $8.02 $24.19 $21.11
Tangible Book Value per Share		 $15.98 $14.54 $12.13 $10.77 $9.05 $7.40 $7.84 $6.67 $5.39 $14.14 $12.43
Total Capital		 2,212 2,149 2,316 2,323 2,261 2,199 2,138 2,126 2,087 1,846 1,655
Total Debt		 610 644 960 1,083 1,155 1,237 1,097 1,126 1,186 1,156 1,050
Total Long-Term Debt		 610 163 425 480 549 563 1,097 596 825 793 381
Net Debt		 586 611 858 991 1,059 1,165 1,037 1,073 1,140 1,134 992
Capital Expenditures (CapEx)		 577 46 196 115 46 22 178 54 58 28 -71
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -17 -18 11 34 61 -7.99 -10 -14 -16 -61 -15
Debt-free Net Working Capital (DFNWC)		 7.73 15 113 126 156 64 50 39 30 -39 42
Net Working Capital (NWC)		 7.73 -466 -422 -477 -449 -610 50 -491 -331 -401 -627
Net Nonoperating Expense (NNE)		 17 19 34 51 66 62 59 58 69 104 60
Net Nonoperating Obligations (NNO)		 586 864 1,094 1,275 1,004 1,442 1,037 1,076 1,143 1,137 996
Total Depreciation and Amortization (D&A)		 123 102 82 92 90 85 85 87 85 85 85
Debt-free, Cash-free Net Working Capital to Revenue		 -6.76% -5.91% 3.42% 9.45% 16.15% -2.09% -3.08% -4.22% -4.73% -17.21% -4.51%
Debt-free Net Working Capital to Revenue		 3.12% 5.06% 36.39% 34.66% 41.67% 16.87% 15.06% 11.75% 8.68% -11.09% 12.32%
Net Working Capital to Revenue		 3.12% -154.08% -135.50% -131.63% -119.77% -159.90% 15.06% -146.15% -95.68% -113.48% -183.18%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.49) ($0.24) ($0.47) ($0.58) ($0.96) ($0.83) ($0.92) ($0.88) ($0.76) ($7.19) ($2.51)
Adjusted Weighted Average Basic Shares Outstanding		 86.68M 89.91M 90.68M 91.88M 92.01M 95.04M 100.53M 106.43M 113.12M 28.29M 28.30M
Adjusted Diluted Earnings per Share		 ($0.49) ($0.24) ($0.47) ($0.58) ($0.96) ($0.83) ($0.92) ($0.88) ($0.76) ($7.19) ($2.51)
Adjusted Weighted Average Diluted Shares Outstanding		 86.68M 89.91M 90.68M 91.88M 92.01M 95.04M 100.53M 106.43M 113.12M 28.29M 28.30M
Adjusted Basic & Diluted Earnings per Share		 ($0.49) ($0.24) ($0.47) ($0.58) ($0.96) ($0.83) $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 85.33M 87.88M 89.80M 91.12M 91.94M 94.64M 100.74M 106.57M 113.19M 28.30M 28.41M
Normalized Net Operating Profit after Tax (NOPAT)		 -15 0.17 6.83 12 11 8.06 1.81 -1.61 0.56 -70 15
Normalized NOPAT Margin		 -5.92% 0.06% 2.20% 3.45% 2.94% 2.11% 0.55% -0.48% 0.16% -19.79% 4.28%
Pre Tax Income Margin		 -18.16% -7.62% -13.52% -14.56% -23.45% -18.72% -25.88% -23.65% -20.84% -53.70% -16.81%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -3.38 -0.16 -0.39 -0.07 -0.57 -0.39 -0.78 -0.54 -0.09 -1.74 0.06
NOPAT to Interest Expense		 -2.41 -0.12 -0.28 -0.04 -0.40 -0.27 -0.55 -0.43 -0.05 -1.25 0.04
EBIT Less CapEx to Interest Expense		 -59.10 -2.49 -6.88 -2.39 -1.39 -0.81 -4.50 -1.57 -0.96 -2.14 1.22
NOPAT Less CapEx to Interest Expense		 -58.13 -2.44 -6.77 -2.37 -1.22 -0.69 -4.27 -1.46 -0.92 -1.64 1.20
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 -159.47% -363.20% -181.12% -105.37% -58.63% -45.74% -6.07% -17.56% -19.32% -7.35% -23.63%
Augmented Payout Ratio		 -185.78% -421.30% -259.78% -132.17% -82.54% -59.70% -6.07% -17.56% -19.32% -7.35% -25.74%

Quarterly Metrics And Ratios for National Healthcare Properties

This table displays calculated financial ratios and metrics derived from National Healthcare Properties' official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 109,928,083.00 111,545,038.00 113,185,753.00 113,238,180.00 113,238,180.00 28,296,439.00 28,296,439.00 28,296,439.00 28,296,439.00 - 28,412,183.00
DEI Adjusted Shares Outstanding		 109,928,083.00 111,545,038.00 113,185,753.00 113,238,180.00 113,238,180.00 28,296,439.00 28,296,439.00 28,296,439.00 28,296,439.00 - 28,412,183.00
DEI Earnings Per Adjusted Shares Outstanding		 -0.18 -0.25 -0.17 -1.06 -0.39 -0.72 -0.18 -0.85 -0.56 - -0.27
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 2.67% 2.20% 1.08% 3.15% 3.80% 1.10% -2.10% -3.92% -3.28% -3.72% -0.18%
EBITDA Growth		 27.02% -35.21% -9.39% -409.52% -106.63% 83.17% 92.50% 119.13% 1,735.16% -39.61% -30.77%
EBIT Growth		 96.19% -121.65% -48.78% -7,118.48% -9,078.23% 100.16% 1,340.53% 94.70% 111.39% -49,000.00% -19.55%
NOPAT Growth		 89.08% -41.42% -157.73% -12,454.24% -2,194.52% 83.96% 1,262.86% 94.51% 111.35% -523.79% -22.40%
Net Income Growth		 18.87% -32.84% -10.53% -574.58% -152.83% 31.50% 90.26% 82.18% 69.26% -33.92% -182.57%
EPS Growth		 -228.57% 23.77% -346.67% -2,255.56% -126.09% 64.36% 73.13% 79.95% 64.10% -27.78% -50.00%
Operating Cash Flow Growth		 -22.79% -26.86% -49.03% 12.38% -1,776.38% 22.56% -934.80% 25.97% 110.68% 54.31% 142.46%
Free Cash Flow Firm Growth		 100.28% 0.00% 101.88% 442.26% 2,901.51% 688.04% 815.94% 317.89% 39.80% 3.42% -69.62%
Invested Capital Growth		 -0.32% -1.54% -1.91% -6.56% -9.27% -10.57% -17.08% -14.30% -13.10% -12.43% -6.01%
Revenue Q/Q Growth		 -0.49% 1.28% 1.75% 0.59% 0.14% -1.35% -1.48% -1.29% 0.81% -1.80% 2.14%
EBITDA Q/Q Growth		 -20.84% -41.47% 81.09% -468.86% 98.30% 1,716.65% 90.30% -63.34% 44.96% -40.29% 118.15%
EBIT Q/Q Growth		 -117.56% -3,499.19% 110.12% -11,074.64% 77.03% 100.06% 92,814.29% -140.40% 149.32% -364.12% 252.86%
NOPAT Q/Q Growth		 -212.18% -621.38% 82.98% -8,867.86% 79.17% 94.96% 1,334.50% -142.37% 143.04% -377.09% 253.58%
Net Income Q/Q Growth		 6.96% -54.14% 37.44% -651.88% 65.13% 58.24% 91.10% -1,275.18% 39.84% -81.92% 81.23%
EPS Q/Q Growth		 -283.33% -192.75% 66.83% -532.84% 63.21% 53.85% 75.00% -372.22% 34.12% -64.29% 70.65%
Operating Cash Flow Q/Q Growth		 -0.12% -7.31% -51.71% 151.36% -1,589.91% 106.78% -428.93% 137.93% 26.29% -2.07% -9.50%
Free Cash Flow Firm Q/Q Growth		 -50.94% 363.77% 43.40% 66.20% 171.55% 21.76% 66.67% -24.17% -9.16% -9.93% -51.03%
Invested Capital Q/Q Growth		 0.02% -1.09% 0.18% -5.71% -2.89% -2.51% -7.11% -2.54% -1.53% -1.77% -0.29%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
EBITDA Margin		 22.82% 13.19% 23.48% -86.09% -1.46% 23.90% 46.16% 17.14% 24.65% 14.99% 32.01%
Operating Margin		 -1.06% -7.58% -1.27% -113.09% -23.53% -1.20% 15.07% -6.47% 2.76% -7.79% 11.71%
EBIT Margin		 -0.29% -10.29% 1.02% -111.58% -25.59% 0.02% 15.05% -6.16% 3.01% -8.10% 12.13%
Profit (Net Income) Margin		 -18.82% -28.64% -17.61% -131.64% -45.84% -19.41% -1.75% -24.42% -14.57% -26.99% -4.96%
Tax Burden Percent		 100.98% 100.24% 100.45% 100.06% 100.00% 100.75% 99.61% 100.00% 100.53% 100.44% 101.83%
Interest Burden Percent		 6,438.71% 277.80% -1,714.29% 117.91% 179.11% -120,707.14% -11.69% 396.46% -481.02% 331.60% -40.17%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 -0.12% -0.89% -0.15% -13.85% -2.95% -0.15% 1.98% -0.88% 0.38% -1.09% 1.70%
ROIC Less NNEP Spread (ROIC-NNEP)		 -1.55% -2.72% -1.45% -17.95% -5.23% -1.58% 1.01% -2.44% -0.93% -2.79% 0.58%
Return on Net Nonoperating Assets (RNNOA)		 -1.71% -3.17% -1.77% -23.70% -7.27% -2.27% 1.40% -3.75% -1.50% -4.61% 0.91%
Return on Equity (ROE)		 -1.84% -4.06% -1.92% -37.55% -10.22% -2.42% 3.39% -4.63% -1.12% -5.69% 2.62%
Cash Return on Invested Capital (CROIC)		 0.00% 1.39% 1.67% 2.96% 5.13% 6.69% 14.59% 14.83% 14.37% 13.39% 6.21%
Operating Return on Assets (OROA)		 -0.05% -1.65% 0.16% -18.15% -4.33% 0.00% 2.67% -1.11% 0.56% -1.52% 2.35%
Return on Assets (ROA)		 -2.98% -4.58% -2.84% -21.41% -7.76% -3.36% -0.31% -4.39% -2.69% -5.05% -0.96%
Return on Common Equity (ROCE)		 -1.83% -4.04% -1.91% -37.27% -10.14% -2.40% 3.36% -4.59% -1.11% -5.65% 2.59%
Return on Equity Simple (ROE_SIMPLE)		 -7.09% 0.00% -8.42% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -0.64 -4.61 -0.78 -70 -15 -0.74 9.12 -3.86 1.66 -4.61 7.07
NOPAT Margin		 -0.75% -5.31% -0.89% -79.16% -16.47% -0.84% 10.55% -4.53% 1.93% -5.45% 8.20%
Net Nonoperating Expense Percent (NNEP)		 1.42% 1.82% 1.30% 4.10% 2.28% 1.43% 0.98% 1.56% 1.31% 1.71% 1.13%
Return On Investment Capital (ROIC_SIMPLE)		 - -0.22% -0.04% -3.59% -0.77% -0.04% 0.52% -0.23% 0.10% -0.28% 0.43%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 5.55% 5.56% 7.66% 5.26% 6.19% 6.27% 5.66% 6.34% 6.59% 9.35% 6.34%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 101.06% 107.58% 101.27% 213.09% 123.53% 100.76% 84.93% 106.47% 97.24% 107.79% 88.28%
Earnings before Interest and Taxes (EBIT)		 -0.25 -8.93 0.90 -99 -23 0.01 13 -5.26 2.59 -6.85 10
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 20 11 21 -76 -1.30 21 40 15 21 13 28
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.09 0.00 0.00 0.00 0.00 0.00 0.68 0.64 0.82 0.88 0.78
Price to Tangible Book Value (P/TBV)		 0.13 0.00 0.00 0.00 0.00 0.00 1.11 1.04 1.36 1.50 1.34
Price to Revenue (P/Rev)		 0.25 0.00 0.00 0.00 0.00 0.00 1.31 1.18 1.49 1.55 1.35
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 6.34% 7.59% 9.85% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.59 0.00 0.00 0.00 0.00 0.00 0.87 0.86 0.93 0.95 0.92
Enterprise Value to Revenue (EV/Rev)		 3.53 0.00 0.00 0.00 0.00 0.00 4.21 4.07 4.40 4.46 4.27
Enterprise Value to EBITDA (EV/EBITDA)		 14.32 0.00 0.00 0.00 0.00 0.00 0.00 19.10 15.72 17.27 19.21
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 146.73 436.16 1,527.90
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 246.04 660.84 5,453.95
Enterprise Value to Operating Cash Flow (EV/OCF)		 51.56 0.00 0.00 0.00 0.00 0.00 0.00 0.00 441.12 219.62 39.31
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 5.42 5.33 6.04 6.65 14.30
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.25 1.32 1.35 1.57 1.69 1.67 1.60 1.61 1.65 1.74 1.76
Long-Term Debt to Equity		 0.88 0.92 0.94 1.09 1.17 1.15 1.07 1.09 1.12 0.63 0.64
Financial Leverage		 1.11 1.17 1.22 1.32 1.39 1.43 1.39 1.53 1.61 1.65 1.58
Leverage Ratio		 2.21 2.28 2.32 2.50 2.53 2.57 2.54 2.74 2.79 2.83 2.77
Compound Leverage Factor		 142.49 6.33 -39.70 2.94 4.53 -3,104.50 -0.30 10.85 -13.40 9.37 -1.11
Debt to Total Capital		 55.50% 56.84% 57.41% 61.09% 62.80% 62.61% 61.48% 61.61% 62.32% 63.46% 63.74%
Short-Term Debt to Total Capital		 16.45% 17.30% 17.32% 18.63% 19.10% 19.62% 20.44% 19.86% 20.02% 40.44% 40.60%
Long-Term Debt to Total Capital		 39.05% 39.54% 40.09% 42.46% 43.70% 42.99% 41.04% 41.75% 42.30% 23.02% 23.14%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.31% 0.31% 0.31% 0.30% 0.30% 0.30% 0.31% 0.32% 0.32% 0.27% 0.27%
Common Equity to Total Capital		 44.19% 42.84% 42.28% 38.61% 36.90% 37.08% 38.21% 38.06% 37.35% 36.26% 35.99%
Debt to EBITDA		 13.83 15.10 15.59 -48.41 -26.23 -32.05 -64.27 14.11 10.82 11.88 13.77
Net Debt to EBITDA		 13.23 14.50 15.22 -47.22 -25.51 -31.45 -60.05 13.48 10.33 11.23 13.08
Long-Term Debt to EBITDA		 9.73 10.50 10.89 -33.65 -18.25 -22.00 -42.91 9.56 7.34 4.31 5.00
Debt to NOPAT		 -596.15 -357.66 -218.35 -15.68 -13.23 -13.36 -14.17 -103.36 169.36 454.58 3,911.05
Net Debt to NOPAT		 -570.21 -343.67 -213.10 -15.30 -12.87 -13.11 -13.24 -98.71 161.75 429.64 3,714.07
Long-Term Debt to NOPAT		 -419.43 -248.81 -152.48 -10.90 -9.21 -9.17 -9.46 -70.04 114.95 164.91 1,420.06
Altman Z-Score		 0.03 0.00 0.00 0.00 0.00 0.00 0.25 0.20 0.28 0.03 0.03
Noncontrolling Interest Sharing Ratio		 0.68% 0.69% 0.70% 0.73% 0.75% 0.76% 0.77% 0.81% 0.84% 0.79% 0.79%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.22 0.20 0.17 0.13 0.15 0.12 0.25 0.21 0.23 0.13 0.12
Quick Ratio		 0.13 0.11 0.07 0.06 0.07 0.06 0.19 0.15 0.15 0.09 0.09
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 5.89 27 39 65 177 215 359 272 247 223 109
Operating Cash Flow to CapEx		 38.71% 62.70% 23.62% 106.55% -1,817.12% 117.18% 0.00% 115.92% 221.64% 84.59% 171.19%
Free Cash Flow to Firm to Interest Expense		 0.37 1.72 2.39 3.67 9.82 12.44 24.70 17.46 16.41 14.04 7.43
Operating Cash Flow to Interest Expense		 0.36 0.33 0.16 0.36 -5.29 0.37 -1.46 0.52 0.68 0.63 0.61
Operating Cash Flow Less CapEx to Interest Expense		 -0.57 -0.20 -0.50 0.02 -5.58 0.05 3.91 0.07 0.37 -0.11 0.26
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.16 0.16 0.16 0.16 0.17 0.17 0.18 0.18 0.18 0.19 0.19
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 45.33 39.58
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.20 0.21 0.21 0.21 0.22 0.23 0.24 0.24 0.25 0.25 0.26
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 8.05 9.22
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 8.05 9.22
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 2,066 2,044 2,047 1,930 1,875 1,828 1,698 1,654 1,629 1,600 1,596
Invested Capital Turnover		 0.17 0.17 0.17 0.18 0.18 0.18 0.19 0.19 0.20 0.20 0.21
Increase / (Decrease) in Invested Capital		 -6.53 -32 -40 -135 -191 -216 -350 -276 -246 -227 -102
Enterprise Value (EV)		 1,215 0.00 0.00 0.00 0.00 0.00 1,482 1,417 1,520 1,527 1,462
Market Capitalization		 86 0.00 0.00 0.00 0.00 0.00 462 412 515 530 462
Book Value per Share		 $8.50 $8.02 $31.03 $6.68 $6.20 $24.19 $23.84 $22.86 $22.16 $21.11 $20.84
Tangible Book Value per Share		 $5.83 $5.39 $20.57 $4.08 $3.64 $14.14 $14.77 $14.03 $13.40 $12.43 $12.16
Total Capital		 2,114 2,087 2,076 1,960 1,904 1,846 1,765 1,700 1,679 1,655 1,645
Total Debt		 1,173 1,186 1,192 1,197 1,196 1,156 1,085 1,047 1,046 1,050 1,049
Total Long-Term Debt		 825 825 832 832 832 793 725 710 710 381 381
Net Debt		 1,122 1,140 1,163 1,168 1,163 1,134 1,014 1,000 999 992 996
Capital Expenditures (CapEx)		 15 8.40 11 6.00 5.24 5.51 -78 6.95 4.59 12 5.27
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -16 -16 -6.88 -108 -55 -61 -26 -16 -8.38 -15 -15
Debt-free Net Working Capital (DFNWC)		 35 30 22 -78 -22 -39 45 31 39 42 38
Net Working Capital (NWC)		 -312 -331 -338 -443 -386 -401 -316 -307 -298 -627 -630
Net Nonoperating Expense (NNE)		 15 20 15 47 26 16 11 17 14 18 11
Net Nonoperating Obligations (NNO)		 1,125 1,143 1,163 1,168 1,166 1,137 1,017 1,002 996 996 999
Total Depreciation and Amortization (D&A)		 20 20 20 23 21 21 27 20 19 20 17
Debt-free, Cash-free Net Working Capital to Revenue		 -4.57% -4.73% -1.98% -30.84% -15.61% -17.21% -7.48% -4.63% -2.43% -4.51% -4.26%
Debt-free Net Working Capital to Revenue		 10.27% 8.68% 6.28% -22.41% -6.30% -11.09% 12.80% 8.90% 11.19% 12.32% 11.18%
Net Working Capital to Revenue		 -90.80% -95.68% -97.38% -126.85% -109.37% -113.48% -89.71% -88.00% -86.10% -183.18% -184.02%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.18) ($2.02) ($0.17) ($1.06) ($1.56) ($0.72) ($0.18) ($0.85) ($0.56) ($0.92) ($0.27)
Adjusted Weighted Average Basic Shares Outstanding		 111.43M 28.28M 113.15M 113.19M 28.29M 28.29M 28.30M 28.30M 28.30M 28.30M 28.34M
Adjusted Diluted Earnings per Share		 ($0.18) ($2.02) ($0.17) ($1.06) ($1.56) ($0.72) ($0.18) ($0.85) ($0.56) ($0.92) ($0.27)
Adjusted Weighted Average Diluted Shares Outstanding		 111.43M 28.28M 113.15M 113.19M 28.29M 28.29M 28.30M 28.30M 28.30M 28.30M 28.34M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 111.55M 113.19M 113.24M 113.24M 28.30M 28.30M 28.30M 28.30M 28.43M 28.41M 72.90M
Normalized Net Operating Profit after Tax (NOPAT)		 -0.40 -1.25 -0.50 -68 -5.94 4.65 -0.01 5.28 5.94 3.45 7.11
Normalized NOPAT Margin		 -0.46% -1.44% -0.57% -76.80% -6.68% 5.30% -0.01% 6.18% 6.90% 4.08% 8.24%
Pre Tax Income Margin		 -18.64% -28.57% -17.53% -131.57% -45.84% -19.26% -1.76% -24.42% -14.49% -26.87% -4.87%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -0.02 -0.56 0.06 -5.58 -1.26 0.00 0.90 -0.34 0.17 -0.43 0.71
NOPAT to Interest Expense		 -0.04 -0.29 -0.05 -3.96 -0.81 -0.04 0.63 -0.25 0.11 -0.29 0.48
EBIT Less CapEx to Interest Expense		 -0.95 -1.09 -0.60 -5.92 -1.56 -0.32 6.27 -0.78 -0.13 -1.17 0.35
NOPAT Less CapEx to Interest Expense		 -0.97 -0.82 -0.71 -4.30 -1.10 -0.36 6.00 -0.69 -0.19 -1.03 0.12
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 -21.11% -19.32% -18.94% -8.06% -7.06% -7.35% -7.94% -17.37% -26.58% -23.63% -22.29%
Augmented Payout Ratio		 -21.11% -19.32% -18.94% -8.06% -7.06% -7.35% -7.94% -17.37% -26.58% -25.74% -22.29%

Financials Breakdown Chart

Key Financial Trends

National Healthcare Properties (NASDAQ: HTIBP) showed a clear improvement in operating performance in Q1 2026 versus late 2025, but the company still remains burdened by heavy interest expense, recurring preferred dividends, and a leveraged balance sheet.

  • Q1 2026 operating revenue rose to $86.3 million, up from $84.5 million in Q4 2025 and in line with the prior year range.
  • Operating cash flow improved to $9.0 million in Q1 2026, versus $10.0 million in Q4 2025 and much stronger than the weak cash flow seen in several 2024 quarters.
  • The company ended Q1 2026 with $52.8 million in cash and equivalents, up from $47.1 million in Q2 2025 and $47.1 million in Q2 2025, providing a decent near-term liquidity cushion.
  • Total common equity increased to $592.1 million at Q1 2026 from $627.1 million at Q3 2025, showing the equity base remains substantial despite ongoing losses.
  • Compared with 2024, quarterly operating results have stabilized materially: Q1 2026 operating income was $10.1 million, versus a loss in late 2024 and a much weaker first half of 2024.
  • Revenue has been relatively stable over the last year, staying in a narrow band around $84 million to $89 million per quarter.
  • Depreciation remains very large, and noncash expenses continue to distort reported earnings versus cash generation.
  • The company still carries a large real estate-heavy asset base, with net property, plant & equipment of $1.26 billion and total assets of $1.70 billion in Q1 2026.
  • Preferred stock dividends remain a recurring obligation at about $3.3 million per quarter.
  • Q1 2026 ended with a net loss of $4.3 million, so the business is still not profitable on a bottom-line basis.
  • Interest expense was still extremely high at $14.7 million in Q1 2026, which more than offset operating income and pushed pretax income negative.
  • The balance sheet remains highly leveraged: total liabilities were $1.10 billion versus $596.5 million of total equity and noncontrolling interests.
  • Short-term debt jumped sharply to $667.8 million in Q1 2026 from $337.6 million in Q2 2025 and $336.2 million in Q3 2025, increasing refinancing pressure.
  • Cash flow from investing and financing was negative in Q1 2026, including $5.3 million of capex and $5.4 million of net financing outflows, which caused net cash to decline by $1.9 million.

Looking at the multi-year trend, operating revenue has been fairly resilient, but profitability has been volatile because of large depreciation, impairment, restructuring, and other operating charges. The biggest takeaway for retail investors is that cash generation has improved, yet the company’s high debt load and ongoing interest burden continue to limit earnings power.

From a risk perspective, the most important item to watch is whether National Healthcare Properties can continue to support operating cash flow while managing the sharp increase in short-term debt. If operating income holds up and debt maturities are handled well, the recent stabilization could matter. If not, leverage may remain the key overhang on the stock.

06/17/26 09:19 AM ETAI Generated. May Contain Errors.

National Healthcare Properties Financials - Frequently Asked Questions

According to the most recent income statement we have on file, National Healthcare Properties' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

National Healthcare Properties' net income appears to be on an upward trend, with a most recent value of -$57.69 million in 2025, rising from -$41.96 million in 2015. The previous period was -$190.26 million in 2024. Check out National Healthcare Properties' forecast to explore projected trends and price targets.

National Healthcare Properties' total operating income in 2025 was $3.30 million, based on the following breakdown:
  • Total Gross Profit: $342.28 million
  • Total Operating Expenses: $338.98 million

Over the last 10 years, National Healthcare Properties' total revenue changed from $247.49 million in 2015 to $342.28 million in 2025, a change of 38.3%.

National Healthcare Properties' total liabilities were at $1.11 billion at the end of 2025, a 11.8% decrease from 2024, and a 65.7% increase since 2015.

In the past 10 years, National Healthcare Properties' cash and equivalents has ranged from $21.65 million in 2024 to $95.69 million in 2019, and is currently $57.62 million as of their latest financial filing in 2025.

Over the last 10 years, National Healthcare Properties' book value per share changed from 18.84 in 2015 to 21.11 in 2025, a change of 12.1%.


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Financial statements for NASDAQ:NHP last updated on 6/16/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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