NHI
National Health Investors
PE ratio, current and historical analysis
- Stocks
- Real Estate
- NYSE: NHI
- PE Ratio
As at Jun 22, 2026, the NHI stock has a PE ratio of 22.82. This is based on the current EPS of $3.11 and the stock price of $70.96 per share. A decrease of 7% has been recorded in the PE ratio compared to the average of 24.6 of the past four quarters.
NHI PE ratio history
The mean historical PE ratio of National Health Investors over the last ten years is 22.01. The current 22.82 price-to-earnings ratio is 3.7% more than the historical average. In the past ten years, NHI's PE ratio reached its highest point in the Jun 2022 quarter at 41.51, with a price of $60.61 and an EPS of $1.46. The Mar 2020 quarter saw the lowest point at 11.71, with a price of $49.52 and an EPS of $4.23.
National Health Investors PE ratio by year
Maximum annual increase: 53.4% in 2014
Maximum annual decrease: -49.43% in 2023
| Year | PE ratio | PE change | Price | EPS |
|---|---|---|---|---|
| 2025 | 25.2 | 14.18% | $76.37 | $3.03 |
| 2024 | 22.07 | 23.71% | $69.3 | $3.14 |
| 2023 | 17.84 | -49.43% | $55.85 | $3.13 |
| 2022 | 35.28 | 50.38% | $52.22 | $1.48 |
| 2021 | 23.46 | 40.39% | $57.47 | $2.45 |
| 2020 | 16.71 | -24.11% | $69.17 | $4.14 |
| 2019 | 22.02 | 7.26% | $81.48 | $3.7 |
| 2018 | 20.53 | 6.21% | $75.54 | $3.68 |
| 2017 | 19.33 | 1.1% | $75.38 | $3.9 |
| 2016 | 19.12 | 24.4% | $74.17 | $3.88 |
| 2015 | 15.37 | -33.2% | $60.87 | $3.96 |
| 2014 | 23.01 | 53.4% | $69.96 | $3.04 |
| 2013 | 15 | -13.49% | $56.1 | $3.74 |
| 2012 | 17.34 | 15.52% | $56.53 | $3.26 |
| 2011 | 15.01 | -16.33% | $43.98 | $2.93 |
National Health Investors PE ratio by quarter (TTM)
| Year | PE ratio | PE change | Price | EPS |
|---|---|---|---|---|
| Mar 2026 | 26 | 3.17% | $80.86 | $3.11 |
| Dec 2025 | 25.2 | 1.12% | $76.37 | $3.03 |
| Sep 2025 | 24.92 | 12.3% | $79.5 | $3.19 |
| Jun 2025 | 22.19 | -4.48% | $70.12 | $3.16 |
| Mar 2025 | 23.23 | 5.26% | $73.86 | $3.18 |
| Dec 2024 | 22.07 | -23.34% | $69.3 | $3.14 |
| Sep 2024 | 28.79 | 24.96% | $84.06 | $2.92 |
| Jun 2024 | 23.04 | 11.84% | $67.73 | $2.94 |
| Mar 2024 | 20.6 | 15.47% | $62.83 | $3.05 |
| Dec 2023 | 17.84 | -15.25% | $55.85 | $3.13 |
| Sep 2023 | 21.05 | 1.99% | $51.36 | $2.44 |
| Jun 2023 | 20.64 | -16.37% | $52.42 | $2.54 |
| Mar 2023 | 24.68 | -30.05% | $51.58 | $2.09 |
| Dec 2022 | 35.28 | -2.03% | $52.22 | $1.48 |
| Sep 2022 | 36.01 | -13.25% | $56.53 | $1.57 |
NHI Price vs fair value
NHI average PE ratio chart
What this chart measures
The Historical Valuation Regime chart shows where the stock's current valuation sits relative to its own historical valuation range over the selected lookback period.
This is a history-relative tool, not a market-relative percentile. It does not compare the stock to other companies. Instead, it compares each historical valuation reading to the stock's own past readings.
Percentile logic
The threshold lines are calculated them from the stock's real historical values using percentile interpolation. That is why some colored bands are narrow while others are wide: the band widths reflect how the stock actually traded through time.
Regime map
| Historical percentile | Regime | Chart meaning |
|---|---|---|
| 0-10 | Historically Low | Deep cheap zone |
| >10-25 | Below Average | Cheap relative to history |
| >25-75 | Average | Within the normal historical range |
| >75-90 | Above Average | Expensive relative to history |
| >90-100 | Historically High | Extreme or stretched valuation |
How to read each part
| Chart element | What it tells you |
|---|---|
| Main line | The actual historical valuation values over time for the selected metric. |
| Dashed horizontal lines | The stock's computed P10, P25, Median, P75, and P90 thresholds for the selected period. |
| Colored bands | The historical valuation zones between those thresholds. |
| Metric boxes | Current ratio, historical median, current percentile, and current regime. |
| Timeline strip | A condensed regime history showing how the stock moved between cheap, fair, and expensive states across each observation. |
Important metric definitions
Current Percentile is the percentile rank of the latest valid historical observation within the selected lookback range.
Current Regime is assigned directly from the latest observation's percentile bucket using the fixed 10 / 25 / 75 / 90 cutoffs shown above.
How to use it well
This chart is most useful for answering a narrow question: Is this stock trading high, low, or normal relative to its own history? It works best alongside growth, profitability, and forward-looking business analysis, because a stock can deserve a higher or lower regime if its business quality has changed.
Currently, NHI's PE ratio is above the 10-year average, but it is lower than the 3 and 5-year averages.
PE comparison
National Health Investors's P/E of 22.82 is below the Real Estate sector, the industry and its peers average. But when looking at its Real Estate sector average of 23.85, National Health Investors's P/E is only 4.3% lower.
NHI PE vs peers
When compared to its peers NHC and ALX, NHI's PE ratio is lower, but it is higher than STWD's. National Health Investors's PE ratio is trading below the peer group average of 35.33.
| Stock name | PE ratio | Market cap |
|---|---|---|
| STWD Starwood Property Trust Inc | 17.44 | $6.21B |
| NHI National Health Investors Inc | 23.48 | $3.54B |
| NHC National Healthcare Corp | 25.01 | $3.12B |
| BFS Saul Centers Inc | 34.36 | $902.18M |
| ALX Alexanders Inc | 66.19 | $1.36B |
Frequently asked questions
What is National Health Investors's PE ratio?
The price to earnings ratio for NHI stock as of Jun 22, 2026, stands at 22.82.
What is the 3-year average PE ratio for National Health Investors (NHI)?
The 3-year average PE ratio for NHI stock is 22.96.
What is the 5-year average PE ratio for National Health Investors (NHI)?
The 5-year average PE ratio for NHI stock is 25.27.
What is the highest PE ratio for NHI?
In the last ten years, the Jun 2022 quarter recorded the highest quarterly PE ratio at 41.51.
How does the current PE ratio for NHI compare to its historical average?
NHI's current price to earnings ratio is 3.7% above its 10-year historical average.
How is NHI's PE ratio calculated (National Health Investors PE ratio formula)?
You can calculate the P/E ratio by dividing the most recent stock price by the trailing twelve months earnings per share(EPS). As of today (Jun 22, 2026), National Health Investors's stock price is $70.96. The earnings per share for the trailing twelve months (TTM) ending Mar 2026 is $3.11. Therefore, National Health Investors's price to earnings ratio for today is 22.82. PE RATIO(22.82) = STOCK PRICE($70.96) / TTM EPS($3.11)
All PE ratio stats are based on quarterly TTM periods, unless otherwise specified.