---
title: "National Healthcare | 8-K: FY2025 Revenue: USD 1.518 B"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/277217546.md"
datetime: "2026-02-27T14:49:21.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/277217546.md)
  - [en](https://longbridge.com/en/news/277217546.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/277217546.md)
---

# National Healthcare | 8-K: FY2025 Revenue: USD 1.518 B

Revenue: As of FY2025, the actual value is USD 1.518 B.

EPS: As of FY2025, the actual value is USD 7.67.

#### Net Operating Revenues and Grant Income

National HealthCare Corporation reported net operating revenues and grant income of $1,517,781,000 for the year ended December 31, 2025, which is a 16.1% increase compared to $1,307,382,000 for the year ended December 31, 2024. This growth was attributed to an 8.4% rise in same-facility net operating revenues and the acquisition of White Oak Manor in August 2024, which added 22 healthcare operations.

#### Revenue Breakdown

-   **Net Patient Revenues**:
    -   2025: $1,469,631,000
    -   2024: $1,251,759,000
-   **Other Revenues**:
    -   2025: $48,150,000
    -   2024: $46,178,000
-   **Government Stimulus Income**:
    -   2025: $0
    -   2024: $9,445,000

#### Costs and Expenses

Total costs and expenses for the year ended December 31, 2025, were $1,389,429,000, an increase from $1,217,487,000 in 2024. **Salaries, Wages and Benefits**: 2025: $921,080,000 2024: $810,930,000 **Other Operating Expenses**: 2025: $377,202,000 2024: $321,390,000 **Facility Rent**: 2025: $46,227,000 2024: $43,182,000 **Depreciation and Amortization**: 2025: $44,920,000 2024: $41,985,000

#### Profitability

-   **Income from Operations**:
    -   2025: $128,352,000
    -   2024: $89,895,000
-   **Non-Operating Income**:
    -   2025: $18,107,000
    -   2024: $19,690,000
-   **Interest Expense**:
    -   2025: - $6,371,000
    -   2024: - $4,135,000
-   **Unrealized Gains on Marketable Equity Securities**:
    -   2025: $22,344,000
    -   2024: $30,958,000
-   **Income Before Income Taxes**:
    -   2025: $162,432,000
    -   2024: $136,408,000
-   **Income Tax Provision**:
    -   2025: - $39,826,000
    -   2024: - $34,322,000
-   **Net Income**:
    -   2025: $122,606,000
    -   2024: $102,086,000
-   **Net Income Attributable to National HealthCare Corporation (GAAP)**:
    -   2025: $120,015,000
    -   2024: $101,927,000
-   **Adjusted Net Income (Non-GAAP)**:
    -   2025: $104,067,000
    -   2024: $76,862,000, representing an increase of 35.4%.

#### Cash Flow

Explicit operating cash flow and free cash flow data are not provided in the reference.

#### Balance Sheet Data (as of December 31)

-   **Cash, Cash Equivalents and Marketable Securities**:
    -   2025: $255,801,000
    -   2024: $216,185,000
-   **Restricted Cash, Cash Equivalents and Marketable Securities**:
    -   2025: $159,848,000
    -   2024: $163,795,000
-   **Current Assets**:
    -   2025: $461,820,000
    -   2024: $424,408,000
-   **Property and Equipment, Net**:
    -   2025: $673,797,000
    -   2024: $684,289,000
-   **Total Assets**:
    -   2025: $1,526,419,000
    -   2024: $1,524,429,000
-   **Current Liabilities, Excluding Current Long-Term Debt**:
    -   2025: $246,132,000
    -   2024: $227,297,000
-   **Current and Long-Term Debt**:
    -   2025: $40,000,000
    -   2024: $137,000,000
-   **NHC Stockholders’ Equity**:
    -   2025: $1,068,772,000
    -   2024: $980,161,000

#### Skilled Nursing Per Diems (Year Ended December 31)

-   **Medicare**:
    -   2025: $616.75
    -   2024: $586.76
-   **Managed Care**:
    -   2025: $486.56
    -   2024: $468.23
-   **Medicaid**:
    -   2025: $285.46
    -   2024: $275.78
-   **Private Pay and Other**:
    -   2025: $338.28
    -   2024: $316.80
-   **Average Skilled Nursing Per Diem**:
    -   2025: $360.40
    -   2024: $346.46

#### Skilled Nursing Patient Days (Year Ended December 31)

-   **Medicare**:
    -   2025: 336,120
    -   2024: 320,524
-   **Managed Care**:
    -   2025: 330,424
    -   2024: 276,019
-   **Medicaid**:
    -   2025: 1,473,029
    -   2024: 1,281,020
-   **Private Pay and Other**:
    -   2025: 788,843
    -   2024: 677,449
-   **Total Skilled Nursing Patient Days**:
    -   2025: 2,928,416
    -   2024: 2,555,012

#### Outlook / Guidance

The press release contains forward-looking statements, which are subject to risks and uncertainties and do not guarantee future performance. Investors are advised to consult S.E.C. reports for detailed risks and uncertainties. No specific financial guidance or outlook for future periods is provided in this release.

### Related Stocks

- [NHC.US](https://longbridge.com/en/quote/NHC.US.md)

## Related News & Research

- [Milliman’s New ETF Prescription for Rising Healthcare Inflation](https://longbridge.com/en/news/282695392.md)
- [12:23 ETB&G FOODS TEAMSTERS RATIFY STRONG CONTRACT](https://longbridge.com/en/news/282570640.md)
- [TD Cowen Sticks to Its Buy Rating for Ceribell, Inc. (CBLL)](https://longbridge.com/en/news/282751759.md)
- [RBC Capital Sticks to Their Buy Rating for Edwards Lifesciences (EW)](https://longbridge.com/en/news/282768248.md)
- [Is Zebra Technologies (ZBRA) Quietly Redefining Its Edge With AI-Powered Healthcare Workflows?](https://longbridge.com/en/news/282430250.md)