NHI vs SBRA: National Health Investors and Sabra Healthcare REIT compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Sabra Healthcare REIT is the larger company, worth $4.8B, about 1.5 times National Health Investors.
- National Health Investors grew revenue faster over the last year (+215.0% vs +63.1%).
- On earnings, National Health Investors is the cheaper stock (21.4x vs 30.0x).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | NHI | SBRA |
|---|---|---|
| Market cap | $3.2B | $4.8B |
| Share price | $64.85 | $18.96 |
| Revenue (last fiscal year) | $80M | $357M |
| Free cash flow (last fiscal year) | -$57M | — |
| Revenue growth, last year | +215.0% | +63.1% |
| Revenue growth per year, last 5 fiscal years | — | +23.1% |
| Operating margin | — | — |
| Net margin | 124.7% | 14.7% |
| Return on equity | 10.6% | 2.4% |
| P/E (trailing) | 21.4x | 30.0x |
| Price / free cash flow | 14.7x | 13.7x |
| EV / EBITDA | 17.3x | 18.8x |
| FCF growth the price implies | — | — |
| Dividend yield | 5.5% | 6.4% |
| Debt / equity | 0.88x | 1.00x |
| Fundamental grade | C | D |
| Superinvestors holding it | 0 | 2 |
| Insider purchases, last 12 months | 3 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
National Health Investors
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $0 | $161M | — |
| 2022 | $36M | $174M | — |
| 2023 | $49M | $135M | — |
| 2024 | $54M | $50M | — |
| 2025 | $80M | -$57M | — |
Sabra Healthcare REIT
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $156M | — | — |
| 2022 | $187M | — | — |
| 2023 | $236M | — | — |
| 2024 | $285M | — | — |
| 2025 | $357M | — | — |
Where the revenue comes from
National Health Investors · by segments, 2025
Sabra Healthcare REIT
No segment breakdown reported.
Questions
Which is bigger, National Health Investors or Sabra Healthcare REIT?
Sabra Healthcare REIT (SBRA), at $4.8B against $3.2B.
Is NHI or SBRA cheaper?
By trailing P/E, National Health Investors (21.4x) is cheaper than Sabra Healthcare REIT (30.0x). A lower multiple can also mean the market expects less growth.
Which grows faster, NHI or SBRA?
National Health Investors: revenue grew +215.0% over the last year, against +63.1%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.