F

National Health Investors, Inc. — Earnings Quality Grade F

NHI · Real Estate

Major red flags

Revenue
$376M
2025
Net Income
$142M
2025
Gross Margin
97.1%
Free Cash Flow
$237M
01

Screening Summary

13
Passed
1
Watch
1
Failed
M-Score

管理层信号

最近 SEC 8-K 文件中未发现 CEO、CFO、董事会或审计负责人变动信号。
02

Financial Trends

Revenue & Net Income ($B)

Margins (%)

03

18-Point Screening

01

Revenue Quality

A1DSO Change

DSO 83 days, change -19 days YoY

A2AR vs Revenue Growth

AR growth -8.7% vs revenue growth 12.1%

A3Revenue vs CFFO

Revenue 12.1%, CFFO 13.9%. Cash follows revenue

02

Expense Quality

B1Inventory vs COGS

No material inventory

B2CapEx vs Revenue

Insufficient data

B3SG&A Ratio

SG&A/Gross Profit = 8.1%, excellent (<30%)

B4Gross Margin

Gross margin 97.1%, change +0.4pp. Stable

03

Cash Flow Quality

C1CFFO vs Net Income

CFFO/NI = 1.66. Profits backed by cash

C2Free Cash Flow

FCF $0.2B, FCF/NI = 1.66

C3Accruals Ratio

Accruals ratio = -3.4%. Low accruals

C4Cash vs Debt

Cash $0.0B covers only 2% of debt $1.2B

04

Balance Sheet Health

D1Goodwill + Intangibles

No goodwill. Clean balance sheet

!
D2Leverage

Debt/EBITDA = 4.2x (>4x). Financial stress

D3Soft Asset Growth

Other assets 0.0% vs revenue 12.1%. Normal

D4Asset Impairment

No write-off data

05

Acquisition Risk

E1Serial Acquirer FCF

FCF after acquisitions positive

E2Goodwill Surge

No goodwill

06

Manipulation Score

F1Beneish M-Score

Insufficient data

持仓监控

把 NHI 放进持续监控

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Altman Z-Score — Not Applicable

National Health Investors, Inc. is a financial company. Z-Score is designed for non-financial companies.

Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25