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Investments
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Other financials

Income statement

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Revenue$115.1M+28.9%
Net income$40.1M+17.4%
EPS (diluted)$0.82+10.8%

Balance sheet

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Cash & equivalents$24.9M-81.8%
Total debt$1.4B+8.4%
Total equity$1.5B+6.2%
Total assets$2.9B+3.8%

Cash flow

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Operating cash flow$53.4M+15.0%

Valuation

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Market cap$3.65B+7.6%
Enterprise value$5B+11.2%
P/E24.7×+0.9×
P/S9.1×-0.6×

Profitability

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Operating margin50.1%
Net margin36.9%-4.3pp
FCF margin70.1%

Returns & leverage

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Return on equity10.1%-0.5pp
Debt / equity0.9×0.0×

Where this comes from

Reported directly by National Health Investors in its filing.

Tagged under the XBRL concept us-gaap:LaborAndRelatedExpense.

The source filing: National Health Investors’s 10-Q, filed May 4, 2026.

Filed
May 4, 2026, 4:06 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0000877860-26-000135
Line itemReal Estate / InvestmentsSHOPNon-Segment / / CorporateTotal
Total revenues78,07037,060115,130
Utilities2,4712,471
Dietary2,2332,233
Labor14,69914,699
Taxes and insurance2,8042,8975,701
Management fees1,9461,946
Other senior housing operating expenses13,9233,923
NOI75,2668,89184,157

Item 1. Financial Statements

FAQ

What is National Health Investors's SHOP — labor?
National Health Investors (NHI) reported SHOP — labor of $14.7M in Q1 2026.
How has National Health Investors's SHOP — labor changed year-over-year?
National Health Investors's SHOP — labor increased by 241.9% year-over-year, from $4.3M to $14.7M.
What is the long-term trend for National Health Investors's SHOP — labor?
Over 3 years (2022 to 2025), National Health Investors's SHOP — labor has grown at a 35.0% compound annual growth rate (CAGR), from $11.18M to $27.53M.
What does SHOP — labor mean?
Includes all wages, benefits, and related costs for staff employed at senior housing facilities within the operating portfolio. As the largest expense category in senior care, this metric is a vital indicator of operational cost control and staffing efficiency. It reflects the company's ability to manage human capital in a labor-intensive industry.

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