Filing Flows › National Health Investors (NHI) › Q1 2026 › vs Q4 2025
National Health Investors (NHI) Q1 2026 vs Q4 2025 (quarter over quarter)
National Health Investors's revenue rose $9.3M (+9%) from $106M in Q4 2025 to $115M in Q1 2026. Operating margin 34.5% against 35.7% (-1.2 pts).
National Health Investors, Q1 2026: revenue $115M (+29% year over year), operating margin 34.5%, net earnings $40.1M, operating cash flow $53.4M. The chart draws each line against Q4 2025, the increases inside each band.
Margins
| Q1 2026 | Q4 2025 | Change | |
|---|---|---|---|
| Operating margin | 34.5% | 35.7% | -1.2 pts |
| Net margin | 34.8% | 36.1% | -1.2 pts |
Every line
| Line | Q1 2026 | Q4 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $115M | $106M | $9.3M | +9% |
| Operating profit | $39.8M | $37.8M | $1.9M | +5% |
| Costs & expenses | $75.4M | $68.0M | $7.4M | +11% |
| Pre-tax earnings | $39.8M | $37.8M | $1.9M | +5% |
| General & admin | $7.9M | $7.6M | $248K | +3% |
| Other operating costs | $67.5M | $60.4M | $7.1M | +12% |
| Loss borne by minority interests | $350K | $360K | −$10K | -3% |
| Net earnings | $40.1M | $38.2M | $1.9M | +5% |
| Depreciation & amortization | $23.7M | $21.7M | $2.0M | +9% |
| Share-based compensation | $2.2M | $964K | $1.3M | +132% |
| Working capital & other | $12.6M | −$7.0M | $19.5M | — |
| Operating cash flow | $53.4M | $67.7M | −$14.3M | -21% |
| Capital expenditures | $109M | $196M | −$86.9M | -44% |
| Negative free cash flow (OCF − capex) | $56.0M | $129M | −$72.6M | -56% |
Questions
How much did National Health Investors's revenue grow quarter over quarter in Q1 2026?
National Health Investors's revenue rose $9.3M (+9%) from $106M in Q4 2025 to $115M in Q1 2026. Operating margin 34.5% against 35.7% (-1.2 pts).