National Healthcare Properties, Inc. (NHP) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 19, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 6, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the NHP SEC filings page.
National Healthcare Properties, Inc. (NHP) reported $344.3M in revenue over the twelve months to Jun 30, 2026, down 1.2% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 13 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
FY2025 restored operating profit, but heavy financing costs and weak cash conversion kept the business loss-making.
FY2025's return to positive operating income of$3.3M did not restore bottom-line profitability because interest expense was$61.3M . Even EBITDA of$81.6M translated into only$7.0M of operating cash flow, indicating that substantial noncash charges and other cash-flow adjustments remain central to reported performance.
The 2024-to-2025 operating rebound occurred below the gross-profit line: gross margin stayed near
The balance sheet contracted while leverage remained elevated. Assets fell from
Financial Health Signals
Scored against REITs for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of National Healthcare Properties, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
FFO Margin measures funds from operations against revenue, and funds from operations is net income with property depreciation added back, since a building written down a little further every year on paper is often worth more rather than less. National Healthcare Properties, Inc. scores 22/100 on it among other REITs.
FFO Growth follows the three-year path of funds from operations, which is net income with property depreciation added back. National Healthcare Properties, Inc. scores 94/100 on it among other REITs.
Not available for National Healthcare Properties, Inc., and counted as zero in the overall score.
National Healthcare Properties, Inc.'s operating income of $3.3M covered its interest expense of $61.3M 0.05 times over in fiscal year 2025. The interest coverage axis ranks REITs on operating income against interest owed, and National Healthcare Properties, Inc. scores 22/100 among other REITs.
AFFO Margin takes funds from operations, subtracts the spending a REIT needs just to keep its properties in working order, and measures what is left against revenue. National Healthcare Properties, Inc. scores 29/100 on it among other REITs.
Not available for National Healthcare Properties, Inc., and counted as zero in the overall score.
National Healthcare Properties, Inc. passes 4 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.
National Healthcare Properties, Inc. reported a net loss of $57.7M while generating $7.0M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
National Healthcare Properties, Inc. earns $0.05 in operating income for every $1 of interest expense ($3.3M vs $61.3M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
National Healthcare Properties, Inc. generated $87.5M in revenue in Q2 2026. This represents an increase of 2.6% from the same quarter a year earlier. Against the prior quarter it is up 1.4%.
National Healthcare Properties, Inc.'s EBITDA was $22.9M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 75.8% from the same quarter a year earlier. Against the prior quarter it is down 17.8%.
National Healthcare Properties, Inc. reported -$5.4M in net income in Q2 2026. This represents an increase of 74.1% from the same quarter a year earlier. Against the prior quarter it is down 25.8%.
National Healthcare Properties, Inc. earned -$0.13 per diluted share (EPS) in Q2 2026.
Cash & Balance Sheet
National Healthcare Properties, Inc. held $245.7M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
National Healthcare Properties, Inc.'s gross margin was 38.2% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is up 1.7 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.5 percentage points.
National Healthcare Properties, Inc.'s operating margin was 5.8% in Q2 2026, reflecting core business profitability. This is up 12.3 percentage points from the same quarter a year earlier. Against the prior quarter it is down 5.9 percentage points.
National Healthcare Properties, Inc.'s net profit margin was -6.2% in Q2 2026, showing the share of revenue converted to profit. This is up 18.3 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.2 percentage points.
National Healthcare Properties, Inc.'s ROE was -0.5% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 2.7 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.2 percentage points.
Capital Allocation
None of these metrics is reported for Q2 2026.
NHP Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $87.5M+2.6% | $86.3M-0.2% | $84.5M-3.7% | $86.0M-3.3% | $85.3M-3.9% | $86.4M-2.1% | $87.7M+1.1% | $88.9M+3.8% |
| Gross Profit | $33.4M+7.2% | $33.4M+16.7% | $31.5M-4.2% | $32.2M-1.1% | $31.2M-7.9% | $28.6M-13.8% | $32.8M+6.8% | $32.5M+3.7% |
| SG&A Expenses | $6.6M+30.1% | $5.5M+11.7% | $8.5M+55.4% | $5.7M+3.1% | $5.1M+8.7% | $4.9M-27.7% | $5.5M+14.1% | $5.5M+15.8% |
| Operating Income | $5.1M+192.2% | $10.1M-22.4% | -$6.6M-523.8% | $2.4M+111.3% | -$5.5M+94.5% | $13.0M+1262.9% | -$1.1M+84.0% | -$20.9M-2194.5% |
| EBITDA | $22.9M+75.8% | $27.8M-24.2% | $11.4M-41.9% | $20.4M+10004.9% | $13.0M+116.6% | $36.7M+87.2% | $19.6M+32.8% | -$206K-101.0% |
| Interest Expense | $12.7M-19.7% | $14.7M+1.0% | $15.9M-8.4% | $15.1M-16.4% | $15.8M-10.8% | $14.5M-11.3% | $17.3M+9.0% | $18.0M+14.5% |
| Income Tax | $47K | $77K+1383.3% | $101K-20.5% | $66K | $0-100.0% | -$6K-108.6% | $127K+115.3% | $0-100.0% |
| Net Income | -$5.4M+74.1% | -$4.3M-182.6% | -$22.8M-33.9% | -$12.5M+69.3% | -$20.8M+82.2% | -$1.5M+90.3% | -$17.0M+31.5% | -$40.8M-152.8% |
| EPS (Basic) | -$0.13+84.7% | -$0.27-50.0% | -$0.92-27.8% | -$0.56+64.1% | -$0.85+80.0% | -$0.18+73.1% | -$0.72+27.3% | -$1.56-126.1% |
| EPS (Diluted) | -$0.13 | -$0.27 | -$0.92-27.8% | -$0.56+64.1% | -$0.85 | -$0.18 | -$0.72 | -$1.56 |
| Diluted Shares (Avg) | 62M | 28M | N/A | 28M0.0% | 28M | 28M | N/A | 28M |
Not reported in any period shown, so not listed: Cost of Revenue, R&D Expenses.
NHP Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.0B+12.4% | $1.7B-7.3% | $1.7B-12.0% | $1.7B-12.9% | $1.8B-16.8% | $1.8B-14.1% | $1.9B-9.3% | $2.0B-8.0% |
| Cash & Equivalents | $245.7M+421.4% | $52.8M-26.0% | $57.6M+166.1% | $47.1M+43.2% | $47.1M+60.0% | $71.4M+149.0% | $21.7M-53.3% | $32.9M-35.6% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Receivable | $7.2M-23.1% | $9.2M+13.5% | $9.3M+58.2% | $10.2M | $9.3M | $8.1M | $5.8M | N/A |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $919.0M-16.9% | $1.1B-4.4% | $1.1B-11.8% | $1.1B-14.2% | $1.1B-18.1% | $1.2B-7.8% | $1.3B+0.9% | $1.3B+4.7% |
| Total Equity | $1.1B+62.9% | $592.2M-12.2% | $600.1M-12.3% | $627.2M-10.7% | $647.0M-14.5% | $674.6M-23.1% | $684.6M-23.4% | $702.6M-24.8% |
Not reported in any period shown, so not listed: Current Assets, Inventory, Goodwill, Current Liabilities, Non-Current Liabilities, Long-Term Debt, Retained Earnings.
NHP Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $21.6M+168.3% | $9.0M+142.5% | $10.0M+54.3% | $10.2M+110.7% | $8.1M+26.0% | -$21.2M-934.8% | $6.5M+22.6% | -$95.2M-1776.4% |
| Depreciation & Amortization | $17.8M-3.9% | $17.7M-25.2% | $18.0M-13.0% | $18.0M-13.0% | $18.5M-15.5% | $23.7M+14.3% | $20.7M-3.1% | $20.7M-0.3% |
| Stock-Based Compensation | $1.6M+166.7% | $612K | N/A | N/A | $600K | $0-100.0% | N/A | N/A |
| Investing Cash Flow | -$103.4M-5343.7% | -$5.4M-106.9% | -$3.3M-161.6% | -$3.0M-104.1% | -$1.9M+43.5% | $78.0M+738.9% | $5.4M+139.2% | $74.1M+605.2% |
| Financing Cash Flow | $277.5M+1044.3% | -$5.4M-21.0% | -$712K+96.9% | -$7.8M-131.1% | -$29.4M-2022.2% | -$4.5M+13.9% | -$22.7M-365.4% | $25.0M+579.2% |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Dividends Paid, Share Buybacks.
NHP Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 38.2%+1.7pp | 38.7%+5.6pp | 37.2%-0.2pp | 37.4%+0.8pp | 36.5%-1.6pp | 33.1%-4.5pp | 37.4%+2.0pp | 36.6%0.0pp |
| Operating Margin | 5.8%+12.3pp | 11.7%-3.4pp | -7.8%-6.6pp | 2.8%+26.3pp | -6.5% | 15.1%+16.3pp | -1.2%+6.4pp | -23.5%-22.5pp |
| Net Margin | -6.2%+18.3pp | -5.0%-3.2pp | -27.0%-7.6pp | -14.6%+31.3pp | -24.4% | -1.8%+15.9pp | -19.4%+9.2pp | -45.8%-27.0pp |
| Return on Equity | -0.5%+2.7pp | -0.7%-0.5pp | -3.8%-1.3pp | -2.0%+3.8pp | -3.2%+12.2pp | -0.2%+1.6pp | -2.5%+0.3pp | -5.8%-4.1pp |
| Return on Assets | -0.3%+0.9pp | -0.3%-0.2pp | -1.3%-0.5pp | -0.7%+1.3pp | -1.2%+4.4pp | -0.1%+0.7pp | -0.9%+0.3pp | -2.0%-1.3pp |
| Debt-to-Equity | 0.87-0.8x | 1.86+0.2x | 1.850.0x | 1.76-0.1x | 1.71-0.1x | 1.71+0.3x | 1.83+0.4x | 1.83+0.5x |
| Asset Turnover | 0.040.0x | 0.050.0x | 0.050.0x | 0.050.0x | 0.050.0x | 0.050.0x | 0.050.0x | 0.040.0x |
Not reported in any period shown, so not listed: Current Ratio, FCF Margin.
Where National Healthcare Properties, Inc. Ranks
Frequently Asked Questions
What is National Healthcare Properties, Inc.'s annual revenue?
National Healthcare Properties, Inc. (NHP) reported $342.3M in total revenue for fiscal year 2025. This represents a -3.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is National Healthcare Properties, Inc.'s revenue growing?
National Healthcare Properties, Inc. (NHP) revenue declined by 3.3% year-over-year, from $353.8M to $342.3M in fiscal year 2025.
Is National Healthcare Properties, Inc. profitable?
No, National Healthcare Properties, Inc. (NHP) reported a net income of -$57.7M in fiscal year 2025, with a net profit margin of -16.9%.
What is National Healthcare Properties, Inc.'s EBITDA?
National Healthcare Properties, Inc. (NHP) had EBITDA of $81.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is National Healthcare Properties, Inc.'s gross margin?
National Healthcare Properties, Inc. (NHP) had a gross margin of 36.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is National Healthcare Properties, Inc.'s operating margin?
National Healthcare Properties, Inc. (NHP) had an operating margin of 1.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is National Healthcare Properties, Inc.'s net profit margin?
National Healthcare Properties, Inc. (NHP) had a net profit margin of -16.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is National Healthcare Properties, Inc.'s return on equity (ROE)?
National Healthcare Properties, Inc. (NHP) has a return on equity of -9.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is National Healthcare Properties, Inc.'s operating cash flow?
National Healthcare Properties, Inc. (NHP) generated $7.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are National Healthcare Properties, Inc.'s total assets?
National Healthcare Properties, Inc. (NHP) had $1.7B in total assets as of fiscal year 2025, including both current and long-term assets.
What is National Healthcare Properties, Inc.'s debt-to-equity ratio?
National Healthcare Properties, Inc. (NHP) had a debt-to-equity ratio of 1.85 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is National Healthcare Properties, Inc.'s return on assets (ROA)?
National Healthcare Properties, Inc. (NHP) had a return on assets of -3.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is National Healthcare Properties, Inc.'s P/E ratio?
National Healthcare Properties, Inc. (NHP) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $1.2B as of Sep 19, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is National Healthcare Properties, Inc.'s price-to-sales ratio?
National Healthcare Properties, Inc. (NHP) trades at 3.4x sales, its market capitalization divided by revenue of $344.3M revenue, trailing 12 months to June 30, 2026. The market capitalization is $1.2B as of Sep 19, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is National Healthcare Properties, Inc.'s Piotroski F-Score?
National Healthcare Properties, Inc. (NHP) has a Piotroski F-Score of 4 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are National Healthcare Properties, Inc.'s earnings high quality?
National Healthcare Properties, Inc. (NHP) reported a net loss of $57.7M while generating $7.0M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can National Healthcare Properties, Inc. cover its interest payments?
National Healthcare Properties, Inc. (NHP) has an interest coverage ratio of 0.05x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is National Healthcare Properties, Inc.?
National Healthcare Properties, Inc. (NHP) scores 28 out of 100 on our Financial Health Score, indicating weak standing within its REITs peer group. The score is a 0-100 composite of six dimensions (FFO Margin, FFO Growth, Leverage, Interest Cov., AFFO Margin, Dividend Cov.), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.