Omega Healthcare Investors Inc.

Real Estate Investment Trusts

OHIStrained8 of 11 basics passed

$44.41

+0.61%

Market cap $13.5B

$44.41

+0.61%

Market cap $13.5B

Omega Healthcare Investors Inc is a real estate investment trust that invests in healthcare-related real estate properties located in the United States (U.S.), the United Kingdom (U.K.), and Canada.

It is a $13.5B real estate company. Revenue grew 15.0% over the last year, and it keeps 67¢ of every dollar of sales as profit. It trades at 15.7× earnings — in the cheapest third of its own history.

Website: omegahealthcare.com
Location: Hunt Valley, MD
Employees: 69
Sector: Real Estate

Share price · 3 years

$33.78 → $44.41+31.5%

price only — dividends excluded

Key facts · TTM

Revenue: total sales; $1.28B
Profit: keeps 67¢ of every $1 sold; $858M
Free cash flow: cash left after running the business; $816M
P/E: years of profit in the price; 15.7
EPS: earnings per share, TTM; $2.82
Dividend: pays out 93% of profit · 97% of FCF; 5.91%
Shares: up 51% since 2016 — dilution; 304.2M
Volatility: beta vs the market — under 1 swings less; 0.55

Revenue, last 8 years

52-week range

Low $39.41$44.41High $51.72

Today's price is 41% of the way from the year's low to its high.

P/E vs its history5y

15.9×median 25.3×

Higher than 14% of past days — in the cheapest third of its own history.

Valuation vs own history

P/E

15.9×

86%

P/S

10.7×

29%

P/B

2.4×

38%

FCF yield

6.0%

97%

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

Standing in Real Estate

Size$13.5Btop 58%
Revenue growth+11%top 27%
Net margin67%top 2%
Return on equity17%top 22%
P/E15.7×top 18%
Dividend yield5.91%top 21%

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.

Strong profitability and quality; Growth and Health lag behind.

Valuation62

P/E vs own history14th pct · 25/25
FCF yield6.1% · 20/25
P/S10.5x · 5/25
EV/EBITDA18.9x · 12/25

Growth43

Revenue CAGR2.9% · 6/25
Net income CAGR9.1% · 12/25
EPS CAGR ~5Y22.6% · 25/25
Fwd implied growth-29.8% · 0/25

Profitability82

ROIC14.7% · 12/25
ROE16.5% · 20/25
Net margin67.0% · 25/25
Operating margin46.1% · 25/25

Health12

Altman Z0.07 · 3/25
Current ratio0.92 · 6/25
Interest coverage1.7x · 3/25
Net cash / debtn/a · 0/25

Quality77

Piotroski F5/9 · 15/25
Beneish M-2.50 · 20/25
FCF conversion95% · 22/25
Margin stabilityσ 6.0% · 20/25

Moat50

ROIC >12% years0/4 yrs · 0/25
Median gross marginn/a · 0/25
FCF-positive years10/10 yrs · 25/25
Worst-year net marginworst 17.9% · 25/25

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
Best year on record
$590M net income
FY2021Financial
Revenue crossed $1B
$1.06B for the year
FY2016Financial
Profitable every year on record
10 consecutive profitable years in our data
FY2016Financial
Positive free cash flow every year since
10-year streak

Achievements

Verifiable track record, straight from the reported numbers.

$10 000 invested in 2021 would be worth ~$14 456 today — price return only

$1.2B revenue in FY2025

Revenue up 15.0% year over year

Profitable 10 years in a row

Positive free cash flow 10 years in a row

69 employees

Strengths & watch-outs

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

Strengths

High gross margin (97.4%)
Strongly profitable — 67.0% net margin
Revenue growing 15.0% year over year
Strong cash conversion — FCF is 63.6% of revenue

Watch-outs

Altman Z-Score 0.07 — elevated financial-distress risk
Thin interest coverage (1.7×)

Qualifications

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

8 of 11 checks passed

Revenue growing — the company sells more than a year ago+15.0% YoY
Profitable — makes more than it spends$858M TTM
Profit growing — earnings are higher than last year+3.5% YoY
Generates cash — cash left after running and investing$816M TTM
Debt under control — could handle its obligationscurrent ratio 0.92
Established company — not a micro-cap — lower blow-up risk$13.5B market cap
Not printing shares — share count not ballooning — you keep your slice+33.7% shares over ~5y
Proven track record — years of profitability behind it10/10 profitable years
Financially stable — balance sheet not near distressAltman Z 0.1 — distress
Pays a dividend — returns cash to shareholdersyield 5.91%
Valuation not extreme — price not wildly above earningsP/E 15.7

Peer comparisonOmega Healthcare Investors 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
OHI this company	$13.5B	15.7	+15.0%	67.0%	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: OHI vs WELL · OHI vs PLD · OHI vs EQIX

References

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

Strong buy 2Buy 9Hold 11Sell 2

Appendix · Financial records

The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.

Profit & lossRevenue $1.28B · net income $858M (TTM)Open ▾

Profit & loss

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

RevenueNet income

Revenue (TTM)

$1.28B

YoY 15.0%

Net income (TTM)

$858M

Margin 67.0%

Gross margin

97.4%

Operating margin

46.1%

P/E ratio

15.7

Dividend yield

5.91%

Income statement — full detail

Figures in USD billions · EPS in USD

	2020	2021	2022	2023	2024	2025
Revenue	0.9	1.1	0.9	0.9	1.1	1.2
Gross profit	—	—	—	—	—	—
Operating income (EBIT)	—	—	—	—	—	—
Net income	0.2	0.4	0.4	0.2	0.4	0.6
EPS (diluted)	0.70	1.75	1.80	1.00	1.55	1.94

Cash flowFree cash flow $816M · operating cash flow $891M (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)

$816M

Margin 63.6%

Operating cash flow (TTM)

$891M

FCF margin

63.6%

Cash flow statement — full detail

Figures in USD billions

	2020	2021	2022	2023	2024	2025
Operating cash flow	0.7	0.7	0.6	0.6	0.7	0.9
Capital expenditure	-0.0	-0.0	-0.0	-0.0	-0.0	-0.1
Free cash flow	0.7	0.7	0.6	0.6	0.7	0.8
FCF margin	75.9%	63.7%	65.9%	61.0%	67.7%	67.0%

Balance sheetAssets $10.0B · debt n/a (FY2025)Open ▾

Balance sheet

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

How $10.0B of assets is financed

47%

53%

Liabilities $4.61B — borrowed moneyEquity $5.18B — owners' stake

Altman Z-Score

0.07

Distress zone

Debt repayment

4.9 yrs

Years of free cash flow to clear net debt

Interest coverage

1.7x

EBIT ÷ interest expense

ROE

16.5%

Profit per $1 of equity

Balance sheet — full detail

Figures in USD billions

	2020	2021	2022	2023	2024	2025
Cash & equivalents	0.2	0.0	0.3	0.4	0.5	0.0
Total assets	9.5	9.6	9.4	9.1	9.9	10.0
Total liabilities	5.5	5.5	5.6	5.4	5.2	4.6
Total debt	—	—	—	—	—	—
Equity	3.8	3.9	3.6	3.6	4.5	5.2
Net debt	—	—	—	—	—	—

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

Deeper analysis of OHI 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 $44.41 · market cap $13.5B.