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Side-by-side financial comparison of NATIONAL HEALTH INVESTORS INC (NHI) and PUMA BIOTECHNOLOGY, INC. (PBYI). Click either name above to swap in a different company.

NATIONAL HEALTH INVESTORS INC is the larger business by last-quarter revenue ($105.8M vs $75.5M, roughly 1.4× PUMA BIOTECHNOLOGY, INC.). On growth, PUMA BIOTECHNOLOGY, INC. posted the faster year-over-year revenue change (27.7% vs 23.4%). PUMA BIOTECHNOLOGY, INC. produced more free cash flow last quarter ($14.4M vs $-57.5M). Over the past eight quarters, PUMA BIOTECHNOLOGY, INC.'s revenue compounded faster (31.3% CAGR vs 13.9%).

Oscar Health, Inc. is an American for-profit health insurance company, founded in 2012 by Joshua Kushner, Kevin Nazemi and Mario Schlosser, and is headquartered in New York City. The company focuses on the health insurance industry through telemedicine, healthcare focused technological interfaces, and transparent claims pricing systems which would make it easier for patients to navigate.

Puma Biotechnology is a publicly traded biopharmaceutical company headquartered in Los Angeles, CA.

NHI vs PBYI — Head-to-Head

Bigger by revenue
NHI
NHI
1.4× larger
NHI
$105.8M
$75.5M
PBYI
Growing faster (revenue YoY)
PBYI
PBYI
+4.3% gap
PBYI
27.7%
23.4%
NHI
More free cash flow
PBYI
PBYI
$71.9M more FCF
PBYI
$14.4M
$-57.5M
NHI
Faster 2-yr revenue CAGR
PBYI
PBYI
Annualised
PBYI
31.3%
13.9%
NHI

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
NHI
NHI
PBYI
PBYI
Revenue
$105.8M
$75.5M
Net Profit
$38.2M
Gross Margin
69.3%
Operating Margin
22.7%
Net Margin
36.1%
Revenue YoY
23.4%
27.7%
Net Profit YoY
-11.7%
EPS (diluted)
$0.80
$0.26

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
NHI
NHI
PBYI
PBYI
Q4 25
$105.8M
$75.5M
Q3 25
$89.8M
$54.5M
Q2 25
$90.7M
$52.4M
Q1 25
$89.3M
$46.0M
Q4 24
$85.8M
$59.1M
Q3 24
$82.9M
$80.5M
Q2 24
$85.0M
$47.1M
Q1 24
$81.5M
$43.8M
Net Profit
NHI
NHI
PBYI
PBYI
Q4 25
$38.2M
Q3 25
$32.9M
$8.8M
Q2 25
$37.0M
$5.9M
Q1 25
$34.2M
$3.0M
Q4 24
$43.2M
Q3 24
$28.5M
$20.3M
Q2 24
$35.3M
$-4.5M
Q1 24
$30.9M
$-4.8M
Gross Margin
NHI
NHI
PBYI
PBYI
Q4 25
69.3%
Q3 25
77.7%
Q2 25
76.5%
Q1 25
77.1%
Q4 24
76.4%
Q3 24
63.9%
Q2 24
77.4%
Q1 24
75.5%
Operating Margin
NHI
NHI
PBYI
PBYI
Q4 25
22.7%
Q3 25
17.6%
Q2 25
12.7%
Q1 25
8.7%
Q4 24
22.6%
Q3 24
27.4%
Q2 24
-4.6%
Q1 24
-5.3%
Net Margin
NHI
NHI
PBYI
PBYI
Q4 25
36.1%
Q3 25
36.6%
16.2%
Q2 25
40.8%
11.2%
Q1 25
38.3%
6.5%
Q4 24
50.4%
Q3 24
34.4%
25.2%
Q2 24
41.5%
-9.6%
Q1 24
38.0%
-11.0%
EPS (diluted)
NHI
NHI
PBYI
PBYI
Q4 25
$0.80
$0.26
Q3 25
$0.69
$0.17
Q2 25
$0.79
$0.12
Q1 25
$0.74
$0.06
Q4 24
$0.96
$0.40
Q3 24
$0.65
$0.41
Q2 24
$0.81
$-0.09
Q1 24
$0.71
$-0.10

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
NHI
NHI
PBYI
PBYI
Cash + ST InvestmentsLiquidity on hand
$19.6M
$97.5M
Total DebtLower is stronger
$22.7M
Stockholders' EquityBook value
$1.5B
$130.3M
Total Assets
$2.8B
$216.3M
Debt / EquityLower = less leverage
0.17×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
NHI
NHI
PBYI
PBYI
Q4 25
$19.6M
$97.5M
Q3 25
$81.6M
$94.4M
Q2 25
$18.6M
$96.0M
Q1 25
$135.0M
$93.2M
Q4 24
$24.3M
$101.0M
Q3 24
$15.6M
$96.7M
Q2 24
$14.8M
$96.8M
Q1 24
$11.4M
$107.2M
Total Debt
NHI
NHI
PBYI
PBYI
Q4 25
$22.7M
Q3 25
$34.0M
Q2 25
$45.3M
Q1 25
$56.7M
Q4 24
$68.0M
Q3 24
$79.3M
Q2 24
$90.7M
Q1 24
$102.0M
Stockholders' Equity
NHI
NHI
PBYI
PBYI
Q4 25
$1.5B
$130.3M
Q3 25
$1.5B
$115.3M
Q2 25
$1.5B
$104.7M
Q1 25
$1.4B
$97.1M
Q4 24
$1.4B
$92.1M
Q3 24
$1.2B
$71.1M
Q2 24
$1.2B
$48.5M
Q1 24
$1.2B
$51.0M
Total Assets
NHI
NHI
PBYI
PBYI
Q4 25
$2.8B
$216.3M
Q3 25
$2.7B
$202.9M
Q2 25
$2.7B
$194.9M
Q1 25
$2.8B
$196.2M
Q4 24
$2.6B
$213.3M
Q3 24
$2.5B
$220.7M
Q2 24
$2.5B
$205.0M
Q1 24
$2.5B
$214.1M
Debt / Equity
NHI
NHI
PBYI
PBYI
Q4 25
0.17×
Q3 25
0.30×
Q2 25
0.43×
Q1 25
0.58×
Q4 24
0.74×
Q3 24
1.12×
Q2 24
1.87×
Q1 24
2.00×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
NHI
NHI
PBYI
PBYI
Operating Cash FlowLast quarter
$236.6M
$14.4M
Free Cash FlowOCF − Capex
$-57.5M
$14.4M
FCF MarginFCF / Revenue
-54.3%
19.1%
Capex IntensityCapex / Revenue
277.9%
0.0%
Cash ConversionOCF / Net Profit
6.20×
TTM Free Cash FlowTrailing 4 quarters
$41.7M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
NHI
NHI
PBYI
PBYI
Q4 25
$236.6M
$14.4M
Q3 25
$62.5M
$9.7M
Q2 25
$59.8M
$14.1M
Q1 25
$46.5M
$3.6M
Q4 24
$207.8M
$15.6M
Q3 24
$48.6M
$11.0M
Q2 24
$60.7M
$1.0M
Q1 24
$40.8M
$11.2M
Free Cash Flow
NHI
NHI
PBYI
PBYI
Q4 25
$-57.5M
$14.4M
Q3 25
$-88.2M
$9.7M
Q2 25
$14.1M
Q1 25
$3.6M
Q4 24
$49.8M
$15.6M
Q3 24
$1.5M
$11.0M
Q2 24
$1.0M
Q1 24
FCF Margin
NHI
NHI
PBYI
PBYI
Q4 25
-54.3%
19.1%
Q3 25
-98.2%
17.7%
Q2 25
26.8%
Q1 25
7.7%
Q4 24
58.1%
26.4%
Q3 24
1.9%
13.7%
Q2 24
2.1%
Q1 24
Capex Intensity
NHI
NHI
PBYI
PBYI
Q4 25
277.9%
0.0%
Q3 25
167.8%
0.0%
Q2 25
0.0%
Q1 25
0.1%
Q4 24
184.2%
0.0%
Q3 24
56.8%
0.0%
Q2 24
0.0%
Q1 24
0.0%
Cash Conversion
NHI
NHI
PBYI
PBYI
Q4 25
6.20×
Q3 25
1.90×
1.10×
Q2 25
1.62×
2.41×
Q1 25
1.36×
1.21×
Q4 24
4.80×
Q3 24
1.70×
0.54×
Q2 24
1.72×
Q1 24
1.32×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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