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National HealthCare

AMEX:NHC
Snowflake Description

Adequate balance sheet average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
NHC
AMEX
$1B
Market Cap
  1. Home
  2. US
  3. Healthcare
Company description

National HealthCare Corporation operates, manages, and provides services to skilled nursing facilities, assisted living facilities, independent living facilities, and home health care programs. The last earnings update was 7 days ago. More info.


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NHC Share Price and Events
7 Day Returns
1.4%
AMEX:NHC
-1.4%
US Healthcare
-3.9%
US Market
1 Year Returns
22%
AMEX:NHC
-2.4%
US Healthcare
1.4%
US Market
NHC Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
National HealthCare (NHC) 1.4% 8.2% -5.8% 22% 27.2% 50.1%
US Healthcare -1.4% 2.6% -8.9% -2.4% 19% 61.3%
US Market -3.9% -3.6% 1.8% 1.4% 35.8% 40.8%
1 Year Return vs Industry and Market
  • NHC outperformed the Healthcare industry which returned -2.4% over the past year.
  • NHC outperformed the Market in United States of America which returned 1.4% over the past year.
Price Volatility
NHC
Industry
5yr Volatility vs Market

Value

 Is National HealthCare undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of National HealthCare to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for National HealthCare.

AMEX:NHC Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 8%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for AMEX:NHC
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Healthcare Unlevered Beta Simply Wall St/ S&P Global 0.69
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.686 (1 + (1- 21%) (24.81%))
0.88
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.88
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.88 * 5.96%)
7.97%

Discounted Cash Flow Calculation for AMEX:NHC using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for National HealthCare is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

AMEX:NHC DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 7.97%)
2019 58.23 Est @ 2.48% 53.93
2020 59.72 Est @ 2.56% 51.22
2021 61.27 Est @ 2.61% 48.68
2022 62.90 Est @ 2.64% 46.27
2023 64.57 Est @ 2.67% 44.00
2024 66.31 Est @ 2.69% 41.85
2025 68.10 Est @ 2.7% 39.80
2026 69.95 Est @ 2.71% 37.86
2027 71.85 Est @ 2.72% 36.02
2028 73.80 Est @ 2.72% 34.26
Present value of next 10 years cash flows $433.89
AMEX:NHC DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $73.80 × (1 + 2.73%) ÷ (7.97% – 2.73%)
$1,445.56
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $1,445.56 ÷ (1 + 7.97%)10
$671.14
AMEX:NHC Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $433.89 + $671.14
$1,105.03
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $1,105.03 / 15.31
$72.19
AMEX:NHC Discount to Share Price
Calculation Result
Value per share (USD) From above. $72.19
Current discount Discount to share price of $79.02
= -1 x ($79.02 - $72.19) / $72.19
-9.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of National HealthCare is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for National HealthCare's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are National HealthCare's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
AMEX:NHC PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $5.45
AMEX:NHC Share Price ** AMEX (2019-05-15) in USD $79.02
United States of America Healthcare Industry PE Ratio Median Figure of 55 Publicly-Listed Healthcare Companies 20.63x
United States of America Market PE Ratio Median Figure of 3,087 Publicly-Listed Companies 17.79x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of National HealthCare.

AMEX:NHC PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= AMEX:NHC Share Price ÷ EPS (both in USD)

= 79.02 ÷ 5.45

14.5x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • National HealthCare is good value based on earnings compared to the US Healthcare industry average.
  • National HealthCare is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does National HealthCare's expected growth come at a high price?
Raw Data
AMEX:NHC PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 14.5x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
11.7%per year
United States of America Healthcare Industry PEG Ratio Median Figure of 42 Publicly-Listed Healthcare Companies 1.67x
United States of America Market PEG Ratio Median Figure of 2,113 Publicly-Listed Companies 1.52x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for National HealthCare, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on National HealthCare's assets?
Raw Data
AMEX:NHC PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $48.98
AMEX:NHC Share Price * AMEX (2019-05-15) in USD $79.02
United States of America Healthcare Industry PB Ratio Median Figure of 91 Publicly-Listed Healthcare Companies 2.29x
United States of America Market PB Ratio Median Figure of 5,195 Publicly-Listed Companies 1.83x
AMEX:NHC PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= AMEX:NHC Share Price ÷ Book Value per Share (both in USD)

= 79.02 ÷ 48.98

1.61x

* Primary Listing of National HealthCare.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • National HealthCare is good value based on assets compared to the US Healthcare industry average.
X
Value checks
We assess National HealthCare's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Healthcare industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Healthcare industry average (and greater than 0)? (1 check)
  5. National HealthCare has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is National HealthCare expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover National HealthCare, future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
11.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is National HealthCare expected to grow at an attractive rate?
  • National HealthCare's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • National HealthCare's earnings growth is positive but not above the United States of America market average.
  • Unable to compare National HealthCare's revenue growth to the United States of America market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
AMEX:NHC Future Growth Rates Data Sources
Data Point Source Value (per year)
AMEX:NHC Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 11.7%
United States of America Healthcare Industry Earnings Growth Rate Market Cap Weighted Average 13.3%
United States of America Healthcare Industry Revenue Growth Rate Market Cap Weighted Average 6.2%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
AMEX:NHC Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
AMEX:NHC Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 984 97 83
2018-12-31 979 98 59
2018-09-30 980 101 62
2018-06-30 975 104 52
2018-03-31 968 95 41
2017-12-31 964 94 56
2017-09-30 956 97 49
2017-06-30 947 85 48
2017-03-31 936 80 50
2016-12-31 924 91 51
2016-09-30 923 85 51
2016-06-30 917 90 51

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • National HealthCare's earnings are expected to grow by 11.7% yearly, however this is not considered high growth (20% yearly).
  • Unable to determine if National HealthCare is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
AMEX:NHC Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from National HealthCare Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

AMEX:NHC Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 5.45
2018-12-31 3.87
2018-09-30 4.09
2018-06-30 3.45
2018-03-31 2.68
2017-12-31 3.70
2017-09-30 3.20
2017-06-30 3.19
2017-03-31 3.26
2016-12-31 3.34
2016-09-30 3.44
2016-06-30 3.48

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if National HealthCare will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess National HealthCare's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
National HealthCare has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has National HealthCare performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare National HealthCare's growth in the last year to its industry (Healthcare).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • National HealthCare's year on year earnings growth rate has been positive over the past 5 years.
  • National HealthCare's 1-year earnings growth exceeds its 5-year average (104.1% vs 5.7%)
  • National HealthCare's earnings growth has exceeded the US Healthcare industry average in the past year (104.1% vs 4%).
Earnings and Revenue History
National HealthCare's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from National HealthCare Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

AMEX:NHC Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 984.01 83.02 40.93
2018-12-31 978.68 58.96 40.92
2018-09-30 980.00 62.28 40.79
2018-06-30 974.87 52.49 40.70
2018-03-31 968.32 40.69 40.51
2017-12-31 963.90 56.21 40.37
2017-09-30 956.43 48.60 40.61
2017-06-30 946.52 48.36 40.81
2017-03-31 935.59 49.57 41.05
2016-12-31 923.58 50.54 41.29
2016-09-30 922.56 51.32 40.96
2016-06-30 916.67 50.62 40.65
2016-03-31 913.80 48.95 40.31
2015-12-31 906.62 46.32 39.97
2015-09-30 899.07 44.31 39.99
2015-06-30 891.91 44.56 39.90
2015-03-31 883.56 44.71 39.83
2014-12-31 871.68 44.70 39.73
2014-09-30 852.11 46.49 39.53
2014-06-30 829.65 53.54 39.51
2014-03-31 804.61 55.37 39.47
2013-12-31 788.96 55.94 39.45
2013-09-30 773.37 55.25 39.48
2013-06-30 766.90 52.57 39.40
2013-03-31 763.06 51.78 39.38
2012-12-31 761.00 50.63 39.36
2012-09-30 759.77 49.26 39.50
2012-06-30 767.52 49.28 39.69

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • National HealthCare has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • National HealthCare used its assets less efficiently than the US Healthcare industry average last year based on Return on Assets.
  • National HealthCare's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess National HealthCare's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Healthcare industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
National HealthCare has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is National HealthCare's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up National HealthCare's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • National HealthCare is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • National HealthCare's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of National HealthCare's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from National HealthCare Company Filings, last reported 1 month ago.

AMEX:NHC Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 750.72 300.02 185.26
2018-12-31 734.46 78.05 183.47
2018-09-30 721.22 99.00 195.10
2018-06-30 706.77 109.93 195.34
2018-03-31 691.64 125.85 178.53
2017-12-31 703.43 126.75 198.20
2017-09-30 691.49 147.64 213.55
2017-06-30 689.46 148.51 208.99
2017-03-31 676.73 149.38 183.44
2016-12-31 669.61 150.23 164.35
2016-09-30 670.82 151.07 166.23
2016-06-30 671.54 151.89 179.30
2016-03-31 654.58 152.71 175.05
2015-12-31 631.00 153.51 154.38
2015-09-30 746.36 44.30 181.35
2015-06-30 742.60 45.08 189.41
2015-03-31 748.40 45.84 213.01
2014-12-31 734.15 46.60 202.30
2014-09-30 710.12 47.34 185.45
2014-06-30 716.81 48.07 193.38
2014-03-31 707.50 48.79 197.60
2013-12-31 688.11 10.00 186.71
2013-09-30 679.66 10.00 196.61
2013-06-30 668.82 10.00 188.75
2013-03-31 668.81 10.00 197.42
2012-12-31 656.15 10.00 173.95
2012-09-30 652.50 10.00 181.71
2012-06-30 639.97 10.00 166.81
  • National HealthCare's level of debt (40%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (6.9% vs 40% today).
  • Debt is well covered by operating cash flow (32.2%, greater than 20% of total debt).
  • National HealthCare earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess National HealthCare's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. National HealthCare has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is National HealthCare's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.63%
Current annual income from National HealthCare dividends.
If you bought $2,000 of National HealthCare shares you are expected to receive $53 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • National HealthCare's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.46%).
  • National HealthCare's dividend is below the markets top 25% of dividend payers in United States of America (3.71%).
Upcoming dividend payment

Purchase National HealthCare before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
AMEX:NHC Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
United States of America Healthcare Industry Average Dividend Yield Market Cap Weighted Average of 21 Stocks 1.5%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1997 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

AMEX:NHC Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-05-09 2.080 2.657
2019-02-15 2.000 2.593
2018-11-09 2.000 2.525
2018-08-10 2.000 2.630
2018-05-03 2.000 2.899
2018-02-14 1.920 3.151
2017-11-10 1.920 3.055
2017-08-04 1.920 3.041
2017-05-09 1.920 2.763
2017-02-10 1.800 2.473
2016-11-04 1.800 2.472
2016-08-05 1.800 2.769
2016-05-03 1.800 2.811
2016-02-12 1.600 2.531
2015-11-05 1.600 2.523
2015-08-07 1.600 2.546
2015-05-07 1.600 2.521
2015-02-12 1.360 2.137
2014-11-06 1.360 2.179
2014-08-06 1.360 2.384
2014-05-08 1.360 2.460
2014-02-12 1.280 2.403
2013-11-06 1.280 2.446
2013-08-01 1.280 2.670
2013-05-08 1.280 2.675
2013-02-15 1.200 2.594
2012-08-01 1.200 2.560
2012-05-03 1.200 2.725
2012-02-16 1.200 2.633
2011-11-03 1.200 2.817
2011-08-04 1.200 3.506
2011-05-09 1.200 2.528
2011-02-22 1.120 2.403
2010-11-08 1.120 2.516
2010-08-05 1.120 3.122
2010-05-06 1.120 3.219
2010-02-16 1.040 2.900
2009-11-05 1.040 2.852
2009-08-06 1.040 2.762

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of National HealthCare's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.7x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess National HealthCare's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can National HealthCare afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. National HealthCare has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of National HealthCare's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Steve Flatt
COMPENSATION $1,345,834
AGE 62
TENURE AS CEO 2.3 years
CEO Bio

Dr. Stephen F. Flatt, also known as Steve, has been the Chief Executive Officer of National HealthCare Corporation since January 1, 2017. Dr. Flatt served as the President of National Healthcare Corp. from January 1, 2009 to January 1, 2017. Dr. Flatt joined NHC in June 2005 as Senior Vice President-Development until January 1, 2009. He served as the President of Lipscomb University from 1997 to June 2005 and prior to that President of Ezell Harding Christian School in Nashville and Vice President of Financial Affairs and Institutional Planning at Lipscomb. He served on the Board of Directors for the NCAA Division I, as President of the Atlantic Sun Athletic Conference and is the immediate past chair of the Board of Directors of the Tennessee Independent College and Universities Association. He has been Director of National HealthCare Corporation since January 1, 2017. He serves as a Director of SunTrust Bank in Nashville. He serves as Co-Chair of the Council for Post Acute Care (CPAC), on the Board of Directors of The Community Foundation of Middle Tennessee, and the Board of Directors of the Nashville Health Care Council. In 2013, he was a member of the Council’s inaugural “Health Care Fellows” Program led by Senator Bill Frist. Also in 2013 he was named one of Middle Tennessee’s “Health-Care Heroes” by the Nashville Business Journal. Dr. Flatt received his B.A. degree from David Lipscomb College and his M.S. degree and PhD from George Peabody College of Vanderbilt University.

CEO Compensation
  • Steve's compensation has increased by more than 20% in the past year.
  • Steve's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the National HealthCare management team in years:

2.3
Average Tenure
57
Average Age
  • The tenure for the National HealthCare management team is about average.
Management Team

Steve Flatt

TITLE
CEO & Director
COMPENSATION
$1M
AGE
62
TENURE
2.3 yrs

Mike Ussery

TITLE
President & COO
COMPENSATION
$1M
AGE
59
TENURE
2.3 yrs

Brian Kidd

TITLE
Senior VP
COMPENSATION
$563K
AGE
43
TENURE
2.3 yrs

Julia Powell

TITLE
Senior VP of Patient Services & Chief Nursing Officer
COMPENSATION
$825K
AGE
69
TENURE
15.3 yrs

Jeff Smith

TITLE
Senior VP & Treasurer
COMPENSATION
$677K
AGE
55
TENURE
2.3 yrs

Carl Adams

TITLE

Andy Flatt

TITLE
Senior VP & Chief Information Officer
AGE
56
TENURE
2.3 yrs

Josh McCreary

TITLE
Senior VP
TENURE
0.1 yrs

Bubba McIntosh

TITLE
Senior Vice President of Ancillary Services & Service Line Strategy
AGE
57
TENURE
2.1 yrs

Kristina Hulsey

TITLE
Secretary
Board of Directors Tenure

Average tenure and age of the National HealthCare board of directors in years:

16.3
Average Tenure
72
Average Age
  • The average tenure for the National HealthCare board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Robert Adams

TITLE
Chairman of the Board
COMPENSATION
$187K
AGE
71
TENURE
10.3 yrs

Steve Flatt

TITLE
CEO & Director
COMPENSATION
$1M
AGE
62
TENURE
2.3 yrs

Richard LaRoche

TITLE
Independent Director
COMPENSATION
$199K
AGE
72
TENURE
17.3 yrs

James Abernathy

TITLE
Independent Director
COMPENSATION
$191K
AGE
82
TENURE
16.3 yrs

Emil Hassan

TITLE
Independent Director
COMPENSATION
$191K
AGE
71
TENURE
15.1 yrs

Andy Adams

TITLE
Director
COMPENSATION
$187K
AGE
72
TENURE
45.3 yrs

Ernest Burgess

TITLE
Independent Director
COMPENSATION
$187K
AGE
78
TENURE
27.3 yrs
Who owns this company?
Recent Insider Trading
  • National HealthCare insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
01. Apr 19 Sell Ernest Burgess Individual 11. Mar 19 11. Mar 19 -1,500 $79.00 $-118,500
03. Jan 19 Sell Ernest Burgess Individual 02. Jan 19 02. Jan 19 -2,000 $78.32 $-156,640
19. Nov 18 Sell James Abernathy Individual 19. Nov 18 19. Nov 18 -1,877 $80.00 $-150,160
14. Nov 18 Sell James Abernathy Individual 13. Nov 18 13. Nov 18 -24 $81.40 $-1,954
14. Nov 18 Sell R. Ussery Individual 12. Nov 18 13. Nov 18 -5,257 $81.11 $-426,318
05. Sep 18 Sell John Lines Individual 31. Aug 18 31. Aug 18 -9,350 $77.30 $-722,755
20. Aug 18 Sell Emil Hassan Individual 16. Aug 18 16. Aug 18 -5,000 $76.48 $-382,400
20. Aug 18 Sell Ernest Burgess Individual 13. Aug 18 13. Aug 18 -3,000 $73.31 $-219,930
14. Jun 18 Sell Emil Hassan Individual 14. Jun 18 14. Jun 18 -5,000 $69.98 $-349,900
14. Jun 18 Sell James Abernathy Individual 14. Jun 18 14. Jun 18 -2,308 $69.49 $-160,383
X
Management checks
We assess National HealthCare's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. National HealthCare has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Here's Why I Think National HealthCare (NYSEMKT:NHC) Might Deserve Your Attention Today

So if you're like me, you might be more interested in profitable, growing companies, like National HealthCare (NYSEMKT:NHC). … View our latest analysis for National HealthCare National HealthCare's Earnings Per Share Are Growing. … So it is good to see that National HealthCare insiders have a significant amount of capital invested in the stock.

Simply Wall St -

Calculating The Intrinsic Value Of National HealthCare Corporation (NYSEMKT:NHC)

In this article we are going to estimate the intrinsic value of National HealthCare Corporation (NYSEMKT:NHC). … by taking the expected future cash flows and discounting them to their present value. … If you want to learn more about discounted cash flow, the rationale behind this calculation can be read in detail in the Simply Wall St analysis model

Simply Wall St -

Why We Think National HealthCare Corporation (NYSEMKT:NHC) Could Be Worth Looking At

In the case of National HealthCare Corporation (NYSEMKT:NHC), there's. … that has been able to sustain great financial health over the past … If you're interested in understanding beyond my broad commentary,

Simply Wall St -

Should National HealthCare Corporation (NYSEMKT:NHC) Focus On Improving This Fundamental Metric?

Over the last twelve months National HealthCare has recorded a ROE of 8.0%. … One way to conceptualize this, is that for each $1 of shareholders' equity it has, the company made $0.080 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Does National HealthCare Corporation's (NYSEMKT:NHC) P/E Ratio Signal A Buying Opportunity?

We'll show how you can use National HealthCare Corporation's (NYSEMKT:NHC) P/E ratio to inform your assessment of the investment opportunity. … National HealthCare has a P/E ratio of 20.42, based on the last twelve months. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

Does National HealthCare's Share Price Gain of 47% Match Its Business Performance?

For example, the National HealthCare Corporation (NYSEMKT:NHC) share price is 47% higher than it was five years ago, which is more than the market average. … One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … National HealthCare's earnings per share are down 0.9% per year, despite strong share price performance over five years.

Simply Wall St -

National HealthCare Corporation (NYSEMKT:NHC): Has Recent Earnings Growth Beaten Long-Term Trend?

After reading National HealthCare Corporation's (NYSEMKT:NHC) most recent earnings announcement (31 December 2018), I found it useful to look back at how the company has performed in the past and compare this against the latest numbers. … I also compare against an industry benchmark to check whether National HealthCare's performance has been impacted by industry movements. … NHC's trailing twelve-month earnings (from 31 December 2018) of US$59m has.

Simply Wall St -

What Type Of Shareholder Owns National HealthCare Corporation's (NYSEMKT:NHC)?

The big shareholder groups in National HealthCare Corporation (NYSEMKT:NHC) have power over the company. … Generally speaking, as a company grows, institutions will increase their ownership. … Our analysis of the ownership of the company, below, shows that.

Simply Wall St -

Does National HealthCare Corporation (NYSEMKT:NHC) Have A Place In Your Portfolio?

Dividends can be underrated but they form a large part of investment returns, playing an important role in compounding returns in the long run. … Historically, National HealthCare Corporation (NYSEMKT:NHC) has paid dividends to shareholders, and these days it yields 2.7%. … Let's take a look at National HealthCare in more detail.

Simply Wall St -

Have Insiders Been Selling National HealthCare Corporation (NYSEMKT:NHC) Shares?

So we'll take a look at whether insiders have been buying or selling shares in National HealthCare Corporation (NYSEMKT:NHC). … As Peter Lynch said, 'insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise.'. … As a general rule we consider it to be discouraging when insiders are selling below the current price.

Simply Wall St -

Company Info

Description

National HealthCare Corporation operates, manages, and provides services to skilled nursing facilities, assisted living facilities, independent living facilities, and home health care programs. Its skilled nursing facilities offer licensed therapy services, nutrition services, social services, activities, and housekeeping and laundry services, as well as medical services prescribed by physicians; and rehabilitative services, such as physical, speech, respiratory, and occupational therapy for patients recovering from strokes, heart attacks, orthopedic conditions, neurological illnesses, or other illnesses, injuries, or disabilities. The company’s medical specialty units comprise memory care units and subacute nursing units that provide specialized care and programs for persons with Alzheimer’s or related disorders; and assisted living centers offer personal care services and assistance with general activities of daily living, such as dressing, bathing, meal preparation, and medication management. It also owns, leases, and manages independent living facilities that provide specially designed residential units for the active and ambulatory elderly, as well as offers various ancillary services for its residents, including restaurants, activity rooms, and social areas. In addition, it provides health care programs that offer skilled services, such as infusion, wound care and physical, occupational, and speech therapies; operates pharmacies; offers management, accounting, financial, and insurance services; and leases its properties to third party operators. As of December 31, 2018, the company operated 75 skilled nursing facilities with 9,510 licensed beds; 24 assisted living facilities; 5 independent living facilities; 35 homecare programs; and 4 pharmacies. National HealthCare Corporation was founded in 1971 and is based in Murfreesboro, Tennessee.

Details
Name: National HealthCare Corporation
NHC
Exchange: AMEX
Founded: 1971
$1,209,503,035
15,306,290
Website: http://www.nhccare.com
Address: National HealthCare Corporation
100 East Vine Street,
Murfreesboro,
Tennessee, 37130,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
AMEX NHC Common Stock NYSE MKT LLC US USD 12. Jul 1983
Number of employees
Current staff
Staff numbers
14,891
National HealthCare employees.
Industry
Health Care Facilities
Healthcare
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/16 01:27
End of day share price update: 2019/05/15 00:00
Last earnings filing: 2019/05/09
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.