On this page of StockholderLetter.com we present the latest annual shareholder letter from NATIONAL HEALTHCARE CORP — ticker symbol NHC. Reading current and past NHC letters to shareholders can bring important insights into the investment thesis.
ANNUAL REPORT 2025
Mission NHC is committed to being the senior care leader in customer, partner, and investor satisfaction. Vision Caring in a Better Way, Day by Day Values Commit to Godly Excellence. Act with Compassion and Integrity. Respect and Value People. Enhance Quality of Life. 1
Skilled Nursing Assisted Living Independent Living Behavioral Health 80 Skilled Nursing Centers 26 Assisted Living Communities 9 Independent Living Communities 3 Behavioral Health Hospitals 10,329 Beds 1,413 Units 777 Units 102 Beds 34 Agencies 33 Agencies 1,300 Members Pharmacy 5 Pharmacies 2
EXPANDING OUR CONTINUUM OF CARE NHC Place Tullahoma Breaking ground in 2025, NHC Place Tullahoma marks the beginning of a new Assisted Living and Memory Care community in Tullahoma, Tennessee. Ellison Place at Cool Springs Developed in partnership with the Flournoy Group, Ellison Place at Cool Springs underscores NHC s ongoing diversification strategy, expanding into luxury apartment communities to support long-term growth. New Intensive Outpatient Program at the Center for or Behavioral Health Maryland Heights The Center for Behavioral Health Maryland Heights in Missouri expanded its continuum of care with the launch off a new Intensive Outpatient Program ogram in 2025. 3
Our partners are the heart of NHC, and their commitment to our Better Way culture continues to shape who we are and how we serve. This year, that commitment was proudly reflected in NHC being certified as a Great Place to Work for 2025 2026, an achievement made possible by the voices and engagement of our teams across the organization. With more than 81% partner participation and a 74% Trust Index, our partners demonstrated strong trust, collaboration, and pride in their work. Through open feedback, shared purpose, and a focus on doing the right thing the right way, our partners help create a supportive, connected workplace where people feel valued, heard, and empowered to deliver excellence every day. 4
 • shareholder letter icon 4/2/2026 Letter Continued (Full PDF)
 • stockholder letter icon 3/23/2023 NHC Stockholder Letter
 • stockholder letter icon 4/5/2024 NHC Stockholder Letter
 • stockholder letter icon 3/28/2025 NHC Stockholder Letter
 • stockholder letter icon More "Hospital & Medical Practitioners" Category Stockholder Letters
 • Benford's Law Stocks icon NHC Benford's Law Stock Score = 55


NHC Shareholder/Stockholder Letter Transcript:

ANNUAL
REPORT
2025

Mission
NHC is committed to being the
senior care leader in customer,
partner, and investor satisfaction.
Vision
Caring in a Better Way,
Day by Day
Values
Commit to Godly Excellence.
Act with Compassion and Integrity.
Respect and Value People.
Enhance Quality of Life.
1

Skilled
Nursing
Assisted
Living
Independent
Living
Behavioral
Health
80
Skilled Nursing
Centers
26
Assisted Living
Communities
9
Independent Living
Communities
3
Behavioral Health
Hospitals
10,329
Beds
1,413
Units
777
Units
102
Beds
34
Agencies
33
Agencies
1,300
Members
Pharmacy
5
Pharmacies
2

EXPANDING OUR
CONTINUUM OF CARE
NHC Place Tullahoma
Breaking ground in 2025, NHC Place Tullahoma
marks the beginning of a new Assisted Living and
Memory Care community in Tullahoma, Tennessee.
Ellison Place at Cool Springs
Developed in partnership with the Flournoy Group,
Ellison Place at Cool Springs underscores NHC   s
ongoing diversification strategy, expanding into luxury
apartment communities to support long-term growth.
New Intensive Outpatient
Program at the Center
for
or Behavioral Health
Maryland Heights
The Center for Behavioral Health
Maryland Heights in Missouri expanded
its continuum of care with the launch
off a new Intensive Outpatient
Program
ogram in 2025.
3

Our partners are the heart of
NHC, and their commitment to
our Better Way culture continues
to shape who we are and how we
serve. This year, that commitment
was proudly reflected in NHC being
certified as a Great Place to Work
for 2025   2026, an achievement
made possible by the voices and
engagement of our teams across the
organization.
With more than 81% partner
participation and a 74% Trust
Index, our partners demonstrated
strong trust, collaboration, and
pride in their work. Through open
feedback, shared purpose, and a
focus on doing the right thing the
right way, our partners help create
a supportive, connected workplace
where people feel valued, heard, and
empowered to deliver excellence
every day.
4


shareholder letter icon 4/2/2026 Letter Continued (Full PDF)
 

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