American Healthcare REIT, Inc.

Real Estate Investment Trusts

AHRStrained7 of 11 basics passed

$50.80

+0.71%

Market cap $11.1B

$50.80

+0.71%

Market cap $11.1B

American Healthcare REIT Inc is a healthcare-focused real estate investment trust. It owns a diversified portfolio of clinical healthcare real estate properties, focusing on medical office buildings, skilled nursing facilities, senior housing, hospitals, and other healthcare-related facilities.

It is a $11.1B real estate company. Revenue grew 13.6% over the last year, it keeps 5¢ of every dollar of sales as profit, and its net debt equals ~4.3 years of free cash flow. It trades at 92.2× earnings — around the middle of its own history.

Website: americanhealthcarereit.com
Location: Irvine, CA
Employees: 121
Sector: Real Estate

Share price · 3 years

$13.22 → $50.80+284.3%

price only — dividends excluded

Key facts · TTM

Revenue: total sales; $2.34B
Profit: keeps 5¢ of every $1 sold; $121M
Free cash flow: cash left after running the business; $362M
Net debt: debt minus cash on hand; $1.57B
P/E: years of profit in the price; 92.2
EPS: earnings per share, TTM; $0.73
Dividend: pays out 148% of profit · 49% of FCF; 1.60%
Shares: up 27% since 2021 — dilution; 166.8M
Volatility: beta vs the market — under 1 swings less; 0.82

Revenue, last 5 years

52-week range

Low $40.56$50.80High $57.72

Today's price is 60% of the way from the year's low to its high.

P/E vs its history1y

91.5×median 96.4×

Higher than 34% of past days — around the middle of its own history.

Valuation vs own history

P/E

91.5×

66%

P/S

4.7×

EV/EBITDA

256.6×

11%

P/B

3.0×

12%

Share of the last ~5 years that was pricier than today (pricier than usual). Based on the daily valuation record.

Insider activity · 90 days

-$189Knet selling

Purchases$0

Sales$189K

Insiders trading, last 14d0 buy · 0 sell

Standing in Real Estate

Size$11.1Btop 73%
Revenue growth+11%top 22%
Net margin5%top 84%
Return on equity4%top 76%
P/E92.2×top 93%
Dividend yield1.60%top 98%

Ranked against 46 Real Estate companies with a full CV — for P/E, lower ranks higher.

Skills

Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.

Growth, Profitability, Health and Moat lag behind.

Valuation57

P/E vs own history34th pct · 20/25
FCF yield3.3% · 12/25
P/S4.5x · 20/25
EV/EBITDA32.2x · 5/25

Growth45

Revenue CAGR13.5% · 20/25
Net income CAGRn/a · 0/25
EPS CAGR ~5Yn/a · 0/25
Fwd implied growth32.7% · 25/25

Profitability28

ROIC2.8% · 5/25
ROE3.7% · 5/25
Net margin5.2% · 13/25
Operating margin5.7% · 5/25

Health21

Altman Zn/a · 0/25
Current ratio0.85 · 6/25
Interest coverage1.7x · 3/25
Net cash / debtD/A 29% · 12/25

Quality67

Piotroski F7/9 · 22/25
Beneish M-2.56 · 25/25
FCF conversionn/a · 0/25
Margin stabilityσ 6.3% · 20/25

Moat0

ROIC >12% years0/4 yrs · 0/25
Median gross margin11.1% · 0/25
FCF-positive yearsn/a · 0/25
Worst-year net marginworst -5.8% · 0/25

How the scores work →

Experience

The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.

FY2025Financial
Turned profitable
$69.8M net income after a loss year
FY2025Financial
Best year on record
$69.8M net income
FY2021Financial
Revenue already above $1B
$1.26B in first reported year
FY2021Financial
Positive free cash flow every year since
5-year streak
Mar 23, 2010Milestone
Landmark reform was passed through two federal statutes: the Affordable Care Act (ACA), signed March 23, 2010

Achievements

Verifiable track record, straight from the reported numbers.

$2.1B revenue in FY2025

Revenue up 13.6% year over year

Positive free cash flow 5 years in a row

121 employees

Strengths & watch-outs

What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.

Strengths

Revenue growing 13.6% year over year
Strong cash conversion — FCF is 15.5% of revenue
Piotroski F-Score 7/9 — fundamentally strong checklist

Watch-outs

Thin interest coverage (1.7×)
Loss-making in 4 of the recent years

Qualifications

The basics a company should meet before you research it further. Each check uses the reported numbers.

7 of 11 checks passed

Revenue growing — the company sells more than a year ago+13.6% YoY
Profitable — makes more than it spends$121M TTM
Profit growing — earnings are higher than last year+284.6% YoY
Generates cash — cash left after running and investing$362M TTM
Debt under control — could handle its obligations~4.3y of cash flow to repay
Established company — not a micro-cap — lower blow-up risk$11.1B market cap
Not printing shares — share count not ballooning — you keep your slice+26.9% shares over ~5y
Proven track record — years of profitability behind it1/5 profitable years
Financially stable — balance sheet not near distresshealth score 24/100
Pays a dividend — returns cash to shareholdersyield 1.60%
Valuation not extreme — price not wildly above earningsP/E 92.2

Peer comparisonAmerican Healthcare REIT, Inc. vs 6 largest real estate peers — cap, P/E, growth and margin side by sideOpen ▾

Company	Market cap	P/E	Revenue growth	Net margin	Profile
AHR this company	$11.1B	92.2	+13.6%	5.2%	Strained
WELL Welltower Inc.	$162.5B	108.1	+37.6%	12.1%	Strained
PLD Prologis, Inc.	$123.1B	29.8	+7.3%	45.8%	Strained
EQIX Equinix, Inc.	$101.2B	66.0	+9.6%	15.6%	Strained
AMT American Tower Corporation	$84.5B	25.0	+14.2%	31.1%	Strained
DLR Digital Realty Trust, Inc.	$66.6B	83.0	+17.4%	11.8%	Strained
SPG Simon Property Group, Inc.	$64.7B	14.0	+15.0%	66.5%	Strained

Head-to-head: AHR vs WELL · AHR vs PLD · AHR vs EQIX

References

What covering analysts publish about the company — information only, not a recommendation.

Strong buy 7Buy 11Hold 1

Appendix · Financial records

The full statements behind this CV, FY2021–FY2025. For readers who want to check the numbers.

Profit & lossRevenue $2.34B · net income $121M (TTM)Open ▾

Profit & loss

Revenue and profit over the company's career — the income statement, visualised.

How FY2025 revenue flows to profit

RevenueNet income

Revenue (TTM)

$2.34B

YoY 13.6%

Net income (TTM)

$121M

Margin 5.2%

Gross margin

21.2%

Operating margin

5.7%

P/E ratio

92.2

Dividend yield

1.60%

Income statement — full detail

Figures in USD billions · EPS in USD

	2021	2022	2023	2024	2025
Revenue	1.3	1.4	1.7	1.9	2.1
Gross profit	—	0.1	0.2	0.2	0.3
Operating income (EBIT)	—	-0.1	-0.1	-0.0	0.0
Net income	-0.0	-0.1	-0.1	-0.0	0.1
EPS (diluted)	-0.36	-0.62	-0.54	-0.29	0.42

Cash flowFree cash flow $362M · operating cash flow $362M (TTM)Open ▾

Cash flow statement

Cash generated by the business and what is left after investment — year by year.

Operating cash flowFree cash flow

Free cash flow (TTM)

$362M

Margin 15.5%

Operating cash flow (TTM)

$362M

Cash flow statement — full detail

Figures in USD billions

	2021	2022	2023	2024	2025
Operating cash flow	0.0	0.1	0.1	0.2	0.3
Capital expenditure	—	—	—	—	—
Free cash flow	0.0	0.1	0.1	0.2	0.3
FCF margin	1.4%	10.5%	5.9%	9.3%	14.1%

Balance sheetAssets $5.43B · net debt $1.57B (FY2025)Open ▾

Balance sheet

How the balance sheet is built — what it owns versus how it is financed.

How $5.43B of assets is financed

38%

62%

Liabilities $2.07B — borrowed moneyEquity $3.32B — owners' stake

Cash vs debt

Total debt $1.69B − cash $115M = net debt $1.57B

Cash on hand covers 7% of debt.

Interest coverage

1.7x

EBIT ÷ interest expense

ROE

3.7%

Profit per $1 of equity

Balance sheet — full detail

Figures in USD billions

	2021	2022	2023	2024	2025
Cash & equivalents	0.1	0.1	0.0	0.1	0.1
Total assets	4.6	4.8	4.6	4.5	5.4
Total liabilities	—	3.1	3.1	2.2	2.1
Total debt	2.5	2.8	2.8	1.9	1.7
Equity	1.8	1.4	1.3	2.3	3.3
Net debt	2.4	2.8	2.8	1.8	1.6

Want the live picture — intraday moves, valuation history and full analysis?

Deeper analysis of AHR on PreMarketPrice

Figures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $50.80 · market cap $11.1B.