National Healthcare (NHC) Operating Margin (2010 - 2026)
National Healthcare's Operating Margin was 11.99% in Q2 2026, up 2.90 percentage points from 9.09% a year earlier and up 3.55 percentage points from the prior quarter.
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Analysis
National Healthcare (NHC) Operating Margin (2010 - 2026) Analysis & Trends
On a trailing twelve-month basis, National Healthcare's Operating Margin was 9.28% through Jun 30, 2026, up 1.29 percentage points year-over-year; for FY2025, it was 8.46%, up 1.58 percentage points from FY2024.
- Operating Margin has now increased for three consecutive years, with a five-year change of +3.77 percentage points (FY2020 to FY2025).
- In earlier years, Operating Margin was 6.88% in FY2024 (+1.84 pp), 5.03% in FY2023 (+2.10 pp), 2.94% in FY2022 (-1.80 pp) and 4.74% in FY2021 (+0.06 pp).
- The Q2 2026 figure marks the highest quarterly Operating Margin since Q1 2011.
- Compared with a year earlier, Operating Margin has increased for 13 straight quarters, with an average year-over-year change of +1.61 percentage points over the last eight quarters.
- The best year-over-year quarter for Operating Margin over five years was Q4 2023 (a gain of 3.37 percentage points); the worst was Q2 2022 (a drop of 3.56 percentage points).
- Per Business Quant data, NHC's Operating Margin in the three quarters before Q2 2026 was 8.45% (Q1 2026), 8.57% (Q4 2025) and 7.94% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | HCA Healthcare | 108.44 Bn | 104.53 Bn | - | - |
| 2 | Natera | 46.38 Bn | 42.00 Bn | 513.47 Mn | -8.60% |
| 3 | Labcorp Holdings | 30.37 Bn | 28.45 Bn | 1.11 Bn | 10.55% |
| 4 | Quest Diagnostics | 28.52 Bn | 26.28 Bn | 1.04 Bn | 15.47% |
| 5 | Tenet Healthcare | 23.21 Bn | 12.51 Bn | - | 31.08% |
| 6 | Guardant Health | 21.35 Bn | 16.97 Bn | 236.15 Mn | -36.78% |
| 7 | Tempus AI | 15.33 Bn | 12.48 Bn | 266.70 Mn | -13.82% |
| 8 | BrightSpring Health Services | 14.30 Bn | 12.05 Bn | 518.55 Mn | 3.81% |
| 9 | Encompass Health | 13.86 Bn | 13.49 Bn | - | - |
| 10 | National Healthcare | 3.27 Bn | 2.32 Bn | - | 9.96% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 9.96% |
| Jun 30, 2026 | 11.99% |
| Mar 31, 2026 | 8.45% |
| Dec 31, 2025 | 8.57% |
| Sep 30, 2025 | 7.94% |
| Jun 30, 2025 | 9.09% |
| Mar 31, 2025 | 8.23% |
| Dec 31, 2024 | 7.83% |
| Sep 30, 2024 | 6.70% |
| Jun 30, 2024 | 7.49% |
| Mar 31, 2024 | 5.27% |
| Dec 31, 2023 | 6.79% |
| Sep 30, 2023 | 4.51% |
| Jun 30, 2023 | 4.95% |
| Mar 31, 2023 | 3.71% |
| Dec 31, 2022 | 3.42% |
| Sep 30, 2022 | 1.51% |
| Jun 30, 2022 | 1.68% |
| Mar 31, 2022 | 5.10% |
| Dec 31, 2021 | 3.23% |
API Access
National Healthcare Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=NHC&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "NHC", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=NHC&period=max&api_key=YOUR_API_KEY");
const data = await res.json();