Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
National Health InvestorsNHI +1.33%79 Pretax Margin % is 46.23% as of Jun. 2026, which is at its 10-year median of 46.23. GuruFocus rates NHI with a GF Score™ of 79/100 and a GF Value™ of $85.01 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 912 REITs companies, National Health Investors ranks worse than 59.43% on this metric.
National Health Investors (NYSE:NHI) Pretax Margin % Explanation
The pretax margin, as know as pretax profit margin, is widely used to measure the operating efficiency of a company before deducting taxes.
The pretax margin is sometimes preferred over the net margin as tax expenditures can make profitability comparisons between companies misleading.
It is a useful tool to compare companies operating in the same sector and less effective when comparing companies from other sectors as each industry generally has different operating expenses and sales patterns.
The long term trend of the pretax margin is a good indicator of the competitiveness and health of the business.
National Health Investors Pretax Margin % Related Terms
National Health Investors Pretax Margin % Historical Data
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the REIT - Healthcare Facilities subindustry, National Health Investors's Pretax Margin %, along with its competitors' market caps and Pretax Margin % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
National Health Investors Pretax Margin % vs REITs Industry
For the REITs industry and Real Estate sector, National Health Investors's Pretax Margin % distribution charts can be found below:
* The bar in red indicates where National Health Investors's Pretax Margin % falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
National Health Investors (NHI) has a Pretax Margin % of 46.23% as of Jun. 2026. Pre-Tax margin is the ratio of total pre-tax income to net sales. View historical data on National Health Investors and its competitors. This is near median its historical median of 46.23. Over the past decade, National Health Investors' Pretax Margin % has ranged from 23.51 to 61.77. According to the industry distribution chart, National Health Investors ranks #542 out of 912 companies in the REITs industry, placing it in the top 59.4%.
Is National Health Investors' Pretax Margin % too high?
National Health Investors' current Pretax Margin % of 46.23% is near median its 10-year median of 46.23. Over the past 10 years, this metric has ranged from a low of 23.51 to a high of 61.77. The REITs industry median Pretax Margin % is 47.87. National Health Investors' value of 46.23% is 3.4% below this industry median. Based on the distribution chart, National Health Investors ranks #542 out of 912 companies in the REITs industry, which is below the industry midpoint. Overall, National Health Investors has a GF Score™ of 79/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does National Health Investors' Pretax Margin % compare to MPT and LTC?
According to the REITs industry distribution chart, National Health Investors ranks #542 out of 912 companies for Pretax Margin %. This places National Health Investors in the lower half of its industry. The industry median Pretax Margin % is 47.87. National Health Investors' value of 46.23% is 3.4% below this benchmark. Historically, National Health Investors' own Pretax Margin % has ranged from 23.51 to 61.77 over the past decade. While the company's 10-year median is 46.23 vs. the industry median of 47.87, National Health Investors has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Pretax Margin % for a REITs company?
The median Pretax Margin % among REITs companies is 47.87, based on 912 companies in the industry. Companies in the top quartile (top 25%) have a Pretax Margin % significantly above this median, while those in the bottom quartile fall well below. However, Pretax Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. National Health Investors's current Pretax Margin % of 46.23% is 3.4% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Pretax Margin % mean?
A high Pretax Margin % can signal that a stock is expensive relative to its fundamentals. Pre-Tax margin is the ratio of total pre-tax income to net sales. View historical data on National Health Investors and its competitors. For the REITs industry, the median Pretax Margin % is 47.87 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. National Health Investors's current Pretax Margin % is 46.23%, which is near median its own 10-year median of 46.23. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is National Health Investors stock overvalued right now?
Based on GuruFocus' analysis, National Health Investors (NHI) is currently considered Modestly Undervalued. The stock's GF Value™ is $85.01, compared to a current price of $72.06 — trading 15.2% below its estimated fair value. The current Pretax Margin % is 46.23%, which is near median its 10-year median of 46.23 and 3.4% below the REITs industry median of 47.87. National Health Investors' overall GF Score™ is 79/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Pretax Margin % calculated?
Pretax Margin % is calculated from a company's financial statements. For National Health Investors (NHI), the current Pretax Margin % is 46.23% as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is National Health Investors (NHI) Overvalued in 2026?
Based on GuruFocus' analysis, National Health Investors stock appears to be undervalued.
The current stock price of $72.06 is trading 15.2% below its estimated GF Value™ of $85.01.
GuruFocus considers National Health Investors to be Modestly Undervalued.
Key valuation signals for NHI:
Pretax Margin %: 46.23% (near median its 10-year median of 46.23)
GF Value™: $85.01 vs. price of $72.06 (15.2% below fair value)
Industry Position: 3.4% below the REITs median (#542 of 912)
No single metric tells the full story. See the NHI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
National Health Investors Inc is a self-managed REIT that owns, leases, operates, and finances the development of senior housing communities and medical facilities. It operates through two segments: Real Estate Investments and Senior Housing Operating Portfolio (SHOP). The Real Estate Investments segment, which generates the majority of revenue, includes real estate leases, mortgages, and other notes receivable related to independent living facilities, assisted living facilities, entrance fee communities, senior living campuses, skilled nursing facilities, and a hospital. The SHOP segment consists of ventures that own and operate independent living facilities. The company's revenues are derived from rental income, interest and other income, and resident fees and services.
79GF Score
Get the complete analysis for NHI
Pretax Margin % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
NHI has been successfully added to your 
