Filing Flows › National Health Investors (NHI) › Q1 2025
National Health Investors (NHI) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 5, 2025
National Health Investors (NHI) reported revenue of $89.3M for the first quarter 2025 (Q1 2025), +10% from a year earlier and +4% from the quarter before. Operating margin was 37.9%, net earnings $34.2M (38.3% of revenue).
National Health Investors, Q1 2025: revenue $89.3M (+10% year over year), operating margin 37.9%, net earnings $34.2M, operating cash flow $46.5M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $89.3M | +4% | +10% |
| Operating profit | $33.8M | -21% | +10% |
| Net earnings | $34.2M | -21% | +10% |
| Operating cash flow | $46.5M | -19% | +14% |
What changed
Revenue was $89.3M in Q1 2025, up 10% year over year and up 4% from the previous quarter.
Operating profit was $33.8M, a 37.9% margin (up 0.3 points year over year). Of the extra revenue versus a year earlier, 41% reached operating profit, above the 38% margin then. Total costs grew 9% against revenue growth of 10%. The fastest-growing cost line was General & admin (+21%). Net earnings were $34.2M, up 10% year over year ($33.8M including minority interests, which bore $348K of losses). The effective tax rate was 0.0%.
Operating cash flow was $46.5M (up 14% year over year), 137% of net earnings. Non-cash charges added back $19.2M of depreciation and $2.6M of share-based compensation. Working capital and other items used $9.1M. Capital expenditures of $85.2M exceeded it, leaving free cash flow of −$38.7M.
Questions
What was National Health Investors' revenue in the first quarter 2025?
National Health Investors (NHI) reported revenue of $89.3M for the first quarter 2025 (Q1 2025), +10% from a year earlier and +4% from the quarter before.
Was National Health Investors profitable in the first quarter 2025?
Operating profit was $33.8M (37.9% of revenue) and net earnings $34.2M.