SEM vs. NHC

Last updated Jun 9, 2026

SEM (Select Medical Holdings Corporation) and NHC (National HealthCare Corporation) are both stocks. Both operate in the Medical Care Facilities industry within the Healthcare sector. Over the past 10 years, SEM returned 11.09%/yr vs 14.72%/yr for NHC. At a 0.39 correlation, their price movements are largely independent.

Performance

SEM vs. NHC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Select Medical Holdings Corporation (SEM) and National HealthCare Corporation (NHC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SEM achieves a 12.48% return, which is significantly lower than NHC's 37.48% return. Over the past 10 years, SEM has underperformed NHC with an annualized return of 11.09%, while NHC has yielded a comparatively higher 14.72% annualized return.

SEM

• 1D: 0.18%
• 1M: 1.36%
• YTD: 12.48%
• 6M: 12.02%
• 1Y: 9.24%
• 3Y*: 4.38%
• 5Y*: -3.65%
• 10Y*: 11.09%

NHC

• 1D: -2.29%
• 1M: -0.58%
• YTD: 37.48%
• 6M: 43.22%
• 1Y: 80.47%
• 3Y*: 48.50%
• 5Y*: 24.04%
• 10Y*: 14.72%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SEM vs. NHC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SEM Select Medical Holdings Corporation	12.48%	-19.84%	51.24%	-3.52%	-13.85%	7.41%	18.51%	52.05%	-13.03%	33.21%
NHC National HealthCare Corporation	37.48%	30.34%	19.05%	60.84%	-9.42%	5.39%	-20.66%	13.02%	32.43%	-17.26%

Correlation

The correlation between SEM and NHC is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (3Y) Calculated over the trailing 3-year period	0.36
Correlation (5Y) Calculated over the trailing 5-year period	0.39
Correlation (10Y) Calculated over the trailing 10-year period	0.41
Correlation (All Time) Calculated using the full available price history since Sep 28, 2009	0.39

Fundamentals

EPS SEM : $1.44 NHC : $7.89
PE Ratio SEM : 11.49 NHC : 23.79
PS Ratio SEM : 0.28 NHC : 1.95
Total Revenue (TTM) SEM : $5.52B NHC : $1.51B
Gross Profit (TTM) SEM : $588.00M NHC : $558.31M
EBITDA (TTM) SEM : $442.21M NHC : $204.52M

Return for Risk

SEM vs. NHC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SEM

SEM Risk / Return Rank: 51
SEM Sharpe Ratio Rank: 53
SEM Sortino Ratio Rank: 46
SEM Omega Ratio Rank: 51
SEM Calmar Ratio Rank: 51
SEM Martin Ratio Rank: 53

NHC

NHC Risk / Return Rank: 93
NHC Sharpe Ratio Rank: 93
NHC Sortino Ratio Rank: 92
NHC Omega Ratio Rank: 90
NHC Calmar Ratio Rank: 94
NHC Martin Ratio Rank: 94

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SEM vs. NHC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Select Medical Holdings Corporation (SEM) and National HealthCare Corporation (NHC). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	SEM	NHC	Difference
Sharpe ratio: Return per unit of total volatility	0.30	2.52	-2.23
Sortino ratio: Return per unit of downside risk	0.62	3.36	-2.74
Omega ratio: Gain probability vs. loss probability	1.11	1.41	-0.30
Calmar ratio: Return relative to maximum drawdown	0.39	6.16	-5.77
Martin ratio: Return relative to average drawdown	0.98	16.45	-15.46
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SEM vs. NHC - Sharpe Ratio Comparison

The current SEM Sharpe Ratio is 0.30, which is lower than the NHC Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of SEM and NHC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SEM	NHC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.30	2.52	-2.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.10	0.87	-0.97
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.26	0.52	-0.26
Sharpe Ratio (All Time) Calculated using the full available price history	0.22	0.25	-0.03

Drawdowns

SEM vs. NHC - Drawdown Comparison

The maximum SEM drawdown since its inception was -60.26%, smaller than the maximum NHC drawdown of -96.33%. Use the drawdown chart below to compare losses from any high point for SEM and NHC.

Drawdown Indicators

	SEM	NHC	Difference
Max Drawdown Largest peak-to-trough decline	-60.26%	-96.33%	+36.07%
Max Drawdown (1Y) Largest decline over 1 year	-24.02%	-13.13%	-10.89%
Max Drawdown (3Y) Largest decline over 3 years	-45.04%	-33.40%	-11.64%
Max Drawdown (5Y) Largest decline over 5 years	-49.09%	-33.40%	-15.69%
Max Drawdown (10Y) Largest decline over 10 years	-60.26%	-35.27%	-24.99%
Current Drawdown Current decline from peak	-22.10%	-5.90%	-16.20%
Average Drawdown Average peak-to-trough decline	-22.66%	-26.42%	+3.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.40%	4.92%	+4.48%

Volatility

SEM vs. NHC - Volatility Comparison

The current volatility for Select Medical Holdings Corporation (SEM) is 0.69%, while National HealthCare Corporation (NHC) has a volatility of 13.13%. This indicates that SEM experiences smaller price fluctuations and is considered to be less risky than NHC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SEM	NHC	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.69%	13.13%	-12.44%
Volatility (6M) Calculated over the trailing 6-month period	13.47%	25.60%	-12.13%
Volatility (1Y) Calculated over the trailing 1-year period	31.38%	32.13%	-0.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.44%	27.74%	+9.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.30%	28.21%	+14.09%

Dividends

SEM vs. NHC - Dividend Comparison

SEM's dividend yield for the trailing twelve months is around 1.51%, more than NHC's 1.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NHC National HealthCare Corporation	1.36%	1.85%	2.25%	2.53%	3.80%	3.11%	3.13%	2.38%	2.52%	3.10%	2.31%	3.14%
SEM Select Medical Holdings Corporation	1.51%	1.68%	97.39%	2.13%	2.01%	1.28%	0.00%	0.00%	0.00%	0.00%	0.00%	0.84%

Financials

SEM vs. NHC - Profitability Comparison

The chart below illustrates the profitability comparison between Select Medical Holdings Corporation and National HealthCare Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

SEM - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Select Medical Holdings Corporation reported a gross profit of 175.47M and revenue of 1.42B. Therefore, the gross margin over that period was 12.3%.

NHC - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, National HealthCare Corporation reported a gross profit of 0.00 and revenue of 369.81M. Therefore, the gross margin over that period was 0.0%.

SEM - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Select Medical Holdings Corporation reported an operating income of 98.42M and revenue of 1.42B, resulting in an operating margin of 6.9%.

NHC - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, National HealthCare Corporation reported an operating income of 32.25M and revenue of 369.81M, resulting in an operating margin of 8.7%.

SEM - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Select Medical Holdings Corporation reported a net income of 44.00M and revenue of 1.42B, resulting in a net margin of 3.1%.

NHC - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, National HealthCare Corporation reported a net income of 35.86M and revenue of 369.81M, resulting in a net margin of 9.7%.

Frequently Asked Questions

Can I hold both SEM and NHC in my portfolio?

SEM and NHC have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SEM or NHC?

NHC has higher volatility (13.13%) compared to SEM (0.69%). In terms of maximum drawdown, SEM dropped -60.26% vs NHC's -96.33%.

Which has better risk-adjusted returns?

NHC currently has the higher Sharpe Ratio (2.52 vs 0.30), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.