Filing Flows › National Healthcare (NHC) › Q2 2025
National Healthcare (NHC) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 7, 2025
National Healthcare (NHC) reported revenue of $375M for the second quarter 2025 (Q2 2025), +25% from a year earlier and +0.3% from the quarter before. Operating margin was 9.1%, net earnings $23.7M (6.3% of revenue).
National Healthcare, Q2 2025: revenue $375M (+25% year over year), operating margin 9.1%, net earnings $23.7M, operating cash flow $62.8M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $375M | +0.3% | +25% |
| Operating profit | $34.1M | +11% | +51% |
| Net earnings | $23.7M | -26% | -12% |
| Operating cash flow | $62.8M | +60% | +24% |
| Free cash flow | $52.6M | +59% | +23% |
What changed
Revenue was $374.9M in Q2 2025, up 25% year over year and roughly flat from the previous quarter.
Operating profit was $34.1M, a 9.1% margin (up 1.6 points year over year). Of the extra revenue versus a year earlier, 16% reached operating profit, above the 7% margin then. Total costs grew 23% against revenue growth of 25%. The fastest-growing cost line was Other operating costs (+23%). Net earnings were $23.7M, down 12% year over year. The effective tax rate was 25.0%.
Operating cash flow was $62.8M (up 24% year over year), 261% of net earnings. Non-cash charges added back $11.0M of depreciation and amortization and $1.2M of share-based compensation. Working capital and other items added $26.5M. Capital expenditures of $10.2M left free cash flow of $52.6M.
Questions
What was National Healthcare's revenue in the second quarter 2025?
National Healthcare (NHC) reported revenue of $375M for the second quarter 2025 (Q2 2025), +25% from a year earlier and +0.3% from the quarter before.
Was National Healthcare profitable in the second quarter 2025?
Operating profit was $34.1M (9.1% of revenue) and net earnings $23.7M.