Filing Flows › National Health Investors (NHI) › Q3 2026
National Health Investors (NHI) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 9, 2026
National Health Investors (NHI) reported revenue of $113M for the third quarter 2026 (Q3 2026), +26% from a year earlier and -6% from the quarter before. Operating margin was 495.9%, net earnings $564M (496.6% of revenue).
National Health Investors, Q3 2026: revenue $113M (+26% year over year), operating margin 495.9%, net earnings $564M, operating cash flow $48.0M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $113M | -6% | +26% |
| Operating profit | $563M | +903% | 17× |
| Net earnings | $564M | +912% | 17× |
| Operating cash flow | $48.0M | -26% | -23% |
| Free cash flow | $41.2M | — | -27% |
What changed
Revenue was $113.5M in Q3 2026, up 26% year over year and down 6% from the previous quarter.
Operating profit was $562.8M, a 495.9% margin (up 459.9 points year over year). Of the extra revenue versus Q3 2025, 2244% reached operating profit, above the 36% margin then. Net earnings were $563.5M, up 1615% year over year ($563.2M including minority interests, which bore $311K of losses). The effective tax rate was 0.0%.
Operating cash flow was $48.0M (down 23% year over year), 9% of net earnings. Non-cash charges added back $25.8M of depreciation and amortization and $1.5M of share-based compensation. Working capital and other items used $542.5M. Capital expenditures of $6.8M left free cash flow of $41.2M.
Questions
What was National Health Investors' revenue in the third quarter 2026?
National Health Investors (NHI) reported revenue of $113M for the third quarter 2026 (Q3 2026), +26% from a year earlier and -6% from the quarter before.
Was National Health Investors profitable in the third quarter 2026?
Operating profit was $563M (495.9% of revenue) and net earnings $564M.