What is AMERICAN HEALTHCARE REIT INC's earnings per share (EPS)?

AMERICAN HEALTHCARE REIT INC (AHR) reported diluted earnings per share of $0.42 for fiscal year 2025. This represents a 244.8% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

AMERICAN HEALTHCARE REIT INC Financials

AHR

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows AMERICAN HEALTHCARE REIT INC (AHR) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 11 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 54/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

AMERICAN HEALTHCARE REIT INC has an operating margin of 18.4%, meaning the company retains $18 of operating profit per $100 of revenue. This results in a moderate score of 63/100, indicating healthy but not exceptional operating efficiency. This is up from 17.6% the prior year.

Growth

AMERICAN HEALTHCARE REIT INC's revenue grew 9.1% year-over-year to $2.3B, a solid pace of expansion. This earns a growth score of 49/100.

Leverage

AMERICAN HEALTHCARE REIT INC carries a low D/E ratio of 0.62, meaning only $0.62 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 89/100, indicating a strong balance sheet with room for future borrowing.

Returns

AMERICAN HEALTHCARE REIT INC generates a 2.1% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 16/100. This is up from -1.7% the prior year.

Piotroski F-Score Neutral

5/9

AMERICAN HEALTHCARE REIT INC passes 5 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.

Earnings Quality Cash-Backed

4.22x

For every $1 of reported earnings, AMERICAN HEALTHCARE REIT INC generates $4.22 in operating cash flow ($294.4M OCF vs $69.8M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Adequate

4.8x

AMERICAN HEALTHCARE REIT INC earns $4.8 in operating income for every $1 of interest expense ($415.2M vs $85.8M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.

Key Financial Metrics

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Earnings & Revenue

Revenue

$2.3B

YoY+9.1%

5Y CAGR+16.2%

AMERICAN HEALTHCARE REIT INC generated $2.3B in revenue in fiscal year 2025. This represents an increase of 9.1% from the prior year.

EBITDA

$602.7M

YoY+11.1%

5Y CAGR+13.7%

AMERICAN HEALTHCARE REIT INC's EBITDA was $602.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 11.1% from the prior year.

Net Income

$69.8M

YoY+284.6%

5Y CAGR+100.3%

AMERICAN HEALTHCARE REIT INC reported $69.8M in net income in fiscal year 2025. This represents an increase of 284.6% from the prior year.

EPS (Diluted)

$0.42

YoY+244.8%

5Y CAGR+53.1%

AMERICAN HEALTHCARE REIT INC earned $0.42 per diluted share (EPS) in fiscal year 2025. This represents an increase of 244.8% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$114.8M

YoY+49.7%

5Y CAGR+0.3%

10Y CAGR+88.6%

AMERICAN HEALTHCARE REIT INC held $114.8M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

$1.00

YoY+0.0%

5Y CAGR+3.1%

AMERICAN HEALTHCARE REIT INC paid $1.00 per share in dividends in fiscal year 2025. This represents an increase of 0.0% from the prior year.

Shares Outstanding

N/A

Margins & Returns

Gross Margin

20.6%

YoY+0.5pp

5Y CAGR+13.6pp

AMERICAN HEALTHCARE REIT INC's gross margin was 20.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 0.5 percentage points from the prior year.

Operating Margin

18.4%

YoY+0.8pp

5Y CAGR-2.0pp

AMERICAN HEALTHCARE REIT INC's operating margin was 18.4% in fiscal year 2025, reflecting core business profitability. This is up 0.8 percentage points from the prior year.

Net Margin

3.1%

YoY+4.9pp

5Y CAGR+2.9pp

AMERICAN HEALTHCARE REIT INC's net profit margin was 3.1% in fiscal year 2025, showing the share of revenue converted to profit. This is up 4.9 percentage points from the prior year.

Return on Equity

2.1%

YoY+3.8pp

5Y CAGR+1.9pp

10Y CAGR+2.1pp

AMERICAN HEALTHCARE REIT INC's ROE was 2.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 3.8 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

YoY-100.0%

AMERICAN HEALTHCARE REIT INC spent $0 on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 100.0% from the prior year.

Capital Expenditures

N/A

AHR Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$2.3B+9.1%	$2.1B+10.9%	$1.9B+32.2%	$1.4B+25.6%	$1.1B+5.1%	$1.1B
Cost of Revenue	$1.8B+8.4%	$1.7B+10.1%	$1.5B+17.2%	$1.3B+24.4%	$1.0B+3.7%	$993.7M
Gross Profit	$466.6M+12.0%	$416.8M+14.4%	$364.3M+178.9%	$130.6M+39.4%	$93.7M+24.4%	$75.3M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$58.7M+23.5%	$47.6M+0.1%	$47.5M+9.4%	$43.4M+0.5%	$43.2M+60.0%	$27.0M
Operating Income	$415.2M+14.2%	$363.5M+18.5%	$306.8M+1.6%	$302.0M+41.5%	$213.3M-2.3%	$218.3M
Interest Expense	$85.8M-32.8%	$127.7M-21.7%	$163.2M+54.0%	$106.0M+30.9%	$80.9M+13.6%	$71.3M
Income Tax	-$22.2M-1394.3%	$1.7M+158.4%	$663K+13.1%	$586K-38.7%	$956K+131.1%	-$3.1M
Net Income	$69.8M+284.6%	-$37.8M+47.1%	-$71.5M+12.1%	-$81.3M-70.1%	-$47.8M-2309.6%	$2.2M
EPS (Diluted)	$0.42+244.8%	$-0.29+73.1%	$-1.08+12.9%	$-1.24-30.5%	$-0.95-2000.0%	$0.05

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$604.1M+5.4%	$572.9M+5.6%	$542.5M+0.4%	$540.6M-0.4%	$542.7M+3.6%	$523.8M+3.8%	$504.6M+1.0%	$499.5M
Cost of Revenue	$480.3M+5.7%	$454.5M+6.6%	$426.3M-1.4%	$432.4M+0.4%	$430.6M+3.2%	$417.1M+3.6%	$402.6M-0.3%	$403.6M
Gross Profit	$123.8M+4.5%	$118.4M+1.9%	$116.2M+7.4%	$108.2M-3.6%	$112.2M+5.1%	$106.7M+4.6%	$102.0M+6.4%	$95.9M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$16.5M+17.2%	$14.1M-5.6%	$14.9M+13.6%	$13.2M+9.0%	$12.1M+1.2%	$11.9M+1.5%	$11.7M-0.7%	$11.8M
Operating Income	$111.6M+5.4%	$105.8M+2.5%	$103.2M+9.2%	$94.5M-4.6%	$99.1M+6.0%	$93.5M+5.5%	$88.7M+7.9%	$82.2M
Interest Expense	$19.8M-2.9%	$20.4M-9.9%	$22.6M-1.4%	$22.9M-24.3%	$30.3M-0.3%	$30.4M-0.7%	$30.6M-16.0%	$36.4M
Income Tax	-$2.4M+88.6%	-$21.1M-2981.4%	$732K+21.2%	$604K+24.3%	$486K+84.8%	$263K-61.7%	$686K+146.8%	$278K
Net Income	$10.8M-80.7%	$55.9M+464.5%	$9.9M+245.6%	-$6.8M+78.6%	-$31.8M-670.1%	-$4.1M-308.5%	$2.0M+150.8%	-$3.9M
EPS (Diluted)	N/A	$0.33+450.0%	$0.06+250.0%	$-0.04	N/A	$-0.03-400.0%	$0.01+125.0%	$-0.04

AHR Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$5.4B+20.9%	$4.5B-2.0%	$4.6B-4.4%	$4.8B+4.5%	$4.6B+41.6%	$3.2B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$114.8M+49.7%	$76.7M+76.5%	$43.4M-33.2%	$65.1M-20.3%	$81.6M-27.9%	$113.2M
Inventory	$18.8M-3.3%	$19.5M0.0%	$19.5M-1.5%	$19.8M+4.5%	$18.9M-23.3%	$24.7M
Accounts Receivable	$204.3M-3.2%	$211.1M+13.9%	$185.4M+34.8%	$137.5M+12.0%	$122.8M-1.4%	$124.6M
Goodwill	$234.9M0.0%	$234.9M+6953.2%	$3.3M-98.6%	$231.6M+10.3%	$209.9M+178.7%	$75.3M
Total Liabilities	$2.1B-5.4%	$2.2B-30.0%	$3.1B-0.6%	$3.1B+14.1%	$2.8B+27.3%	$2.2B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$3.3B+46.9%	$2.3B+78.0%	$1.3B-9.3%	$1.4B-11.5%	$1.6B+82.6%	$866.1M
Retained Earnings	-$1.6B-6.9%	-$1.5B-14.3%	-$1.3B-12.1%	-$1.1B-19.7%	-$951.3M-10.1%	-$864.3M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$5.4B+13.8%	$4.8B+5.8%	$4.5B+1.0%	$4.5B-0.5%	$4.5B-4.0%	$4.7B+0.7%	$4.6B-1.3%	$4.7B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$114.8M-22.1%	$147.4M+10.4%	$133.5M+55.1%	$86.1M+12.2%	$76.7M+13.0%	$67.8M+30.3%	$52.1M-32.4%	$77.0M
Inventory	$18.8M-6.9%	$20.2M+4.2%	$19.4M+0.3%	$19.4M-0.6%	$19.5M-3.7%	$20.2M+1.0%	$20.0M-3.4%	$20.7M
Accounts Receivable	$204.3M+8.3%	$188.6M-15.8%	$224.1M+0.6%	$222.7M+5.5%	$211.1M+3.6%	$203.7M+1.3%	$201.0M-6.9%	$215.9M
Goodwill	$234.9M0.0%	$234.9M0.0%	$234.9M0.0%	$234.9M0.0%	$234.9M0.0%	$234.9M0.0%	$234.9M0.0%	$234.9M
Total Liabilities	$2.1B+0.7%	$2.1B+0.3%	$2.0B-5.3%	$2.2B-1.1%	$2.2B-9.7%	$2.4B-4.8%	$2.5B-0.8%	$2.6B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$3.3B+24.0%	$2.7B+10.6%	$2.4B+7.0%	$2.3B+0.1%	$2.3B+2.4%	$2.2B+14.2%	$1.9B-1.4%	$2.0B
Retained Earnings	-$1.6B-2.4%	-$1.5B+0.8%	-$1.5B-2.1%	-$1.5B-3.2%	-$1.5B-5.1%	-$1.4B-3.2%	-$1.3B-2.4%	-$1.3B

AHR Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$294.4M+67.2%	$176.1M+78.7%	$98.5M-33.3%	$147.8M+724.9%	$17.9M-91.8%	$219.2M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$1.1B-12303.2%	-$8.7M-193.0%	$9.4M+107.9%	-$118.6M+14.5%	-$138.7M+6.3%	-$147.9M
Financing Cash Flow	$817.2M+706.5%	-$134.7M-4.4%	-$129.1M-200.7%	-$42.9M-145.6%	$94.1M+1168.1%	-$8.8M
Dividends Paid	$163.5M+35.3%	$120.9M+58.5%	$76.3M+49.2%	$51.1M+124.3%	$22.8M-15.6%	$27.0M
Share Buybacks	$0-100.0%	$14K-97.0%	$469K-97.7%	$20.7M+5318.6%	$382K-98.3%	$23.1M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	$55.2M-48.5%	$107.2M+50.0%	$71.5M+17.9%	$60.6M+1.9%	$59.5M-5.7%	$63.1M+6.3%	$59.4M+1097.7%	-$6.0M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$710.0M-155.0%	-$278.5M-348.5%	-$62.1M-89.4%	-$32.8M-137.6%	$87.2M+386.8%	-$30.4M+49.6%	-$60.3M-1054.7%	-$5.2M
Financing Cash Flow	$622.2M+235.1%	$185.7M+460.6%	$33.1M+239.3%	-$23.8M+83.0%	-$140.0M-922.1%	-$13.7M+47.4%	-$26.0M-157.9%	$45.0M
Dividends Paid	$42.9M+3.9%	$41.2M+3.4%	$39.9M+0.8%	$39.5M+3.2%	$38.3M+16.1%	$33.0M0.0%	$33.0M+98.8%	$16.6M
Share Buybacks	$0	$0	$0	$0	$0	$0	$0-100.0%	$14K

AHR Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	20.6%+0.5pp	20.1%+0.6pp	19.5%+10.3pp	9.3%+0.9pp	8.3%+1.3pp	7.0%
Operating Margin	18.4%+0.8pp	17.6%+1.1pp	16.4%-4.9pp	21.4%+2.4pp	19.0%-1.4pp	20.4%
Net Margin	3.1%+4.9pp	-1.8%+2.0pp	-3.8%+1.9pp	-5.8%-1.5pp	-4.3%-4.5pp	0.2%
Return on Equity	2.1%+3.8pp	-1.7%+4.0pp	-5.6%+0.2pp	-5.8%-2.8pp	-3.0%-3.3pp	0.3%
Return on Assets	1.3%+2.1pp	-0.8%+0.7pp	-1.6%+0.1pp	-1.7%-0.7pp	-1.0%-1.1pp	0.1%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.62-0.3	0.97-1.5	2.46+0.2	2.24+0.5	1.74-0.8	2.49
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	20.5%-0.2pp	20.7%-0.8pp	21.4%+1.4pp	20.0%-0.7pp	20.7%+0.3pp	20.4%+0.2pp	20.2%+1.0pp	19.2%
Operating Margin	18.5%0.0pp	18.5%-0.6pp	19.0%+1.5pp	17.5%-0.8pp	18.3%+0.4pp	17.9%+0.3pp	17.6%+1.1pp	16.4%
Net Margin	1.8%-8.0pp	9.8%+7.9pp	1.8%+3.1pp	-1.3%+4.6pp	-5.9%-5.1pp	-0.8%-1.2pp	0.4%+1.2pp	-0.8%
Return on Equity	0.3%-1.8pp	2.1%+1.7pp	0.4%+0.7pp	-0.3%+1.1pp	-1.4%-1.2pp	-0.2%-0.3pp	0.1%+0.3pp	-0.2%
Return on Assets	0.2%-1.0pp	1.2%+0.9pp	0.2%+0.4pp	-0.1%+0.6pp	-0.7%-0.6pp	-0.1%-0.1pp	0.0%+0.1pp	-0.1%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.62-0.1	0.77-0.1	0.84-0.1	0.95-0.0	0.97-0.1	1.10-0.2	1.310.0	1.31
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is AMERICAN HEALTHCARE REIT INC's annual revenue?

AMERICAN HEALTHCARE REIT INC (AHR) reported $2.3B in total revenue for fiscal year 2025. This represents a 9.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is AMERICAN HEALTHCARE REIT INC's revenue growing?

AMERICAN HEALTHCARE REIT INC (AHR) revenue grew by 9.1% year-over-year, from $2.1B to $2.3B in fiscal year 2025.

Is AMERICAN HEALTHCARE REIT INC profitable?

Yes, AMERICAN HEALTHCARE REIT INC (AHR) reported a net income of $69.8M in fiscal year 2025, with a net profit margin of 3.1%.

What is AMERICAN HEALTHCARE REIT INC's EBITDA?

AMERICAN HEALTHCARE REIT INC (AHR) had EBITDA of $602.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is AMERICAN HEALTHCARE REIT INC's gross margin?

AMERICAN HEALTHCARE REIT INC (AHR) had a gross margin of 20.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is AMERICAN HEALTHCARE REIT INC's operating margin?

AMERICAN HEALTHCARE REIT INC (AHR) had an operating margin of 18.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is AMERICAN HEALTHCARE REIT INC's net profit margin?

AMERICAN HEALTHCARE REIT INC (AHR) had a net profit margin of 3.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does AMERICAN HEALTHCARE REIT INC pay dividends?

Yes, AMERICAN HEALTHCARE REIT INC (AHR) paid $1.00 per share in dividends during fiscal year 2025.

What is AMERICAN HEALTHCARE REIT INC's return on equity (ROE)?

AMERICAN HEALTHCARE REIT INC (AHR) has a return on equity of 2.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is AMERICAN HEALTHCARE REIT INC's operating cash flow?

AMERICAN HEALTHCARE REIT INC (AHR) generated $294.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are AMERICAN HEALTHCARE REIT INC's total assets?

AMERICAN HEALTHCARE REIT INC (AHR) had $5.4B in total assets as of fiscal year 2025, including both current and long-term assets.

What is AMERICAN HEALTHCARE REIT INC's debt-to-equity ratio?

AMERICAN HEALTHCARE REIT INC (AHR) had a debt-to-equity ratio of 0.62 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is AMERICAN HEALTHCARE REIT INC's return on assets (ROA)?

AMERICAN HEALTHCARE REIT INC (AHR) had a return on assets of 1.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is AMERICAN HEALTHCARE REIT INC's Piotroski F-Score?

AMERICAN HEALTHCARE REIT INC (AHR) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are AMERICAN HEALTHCARE REIT INC's earnings high quality?

AMERICAN HEALTHCARE REIT INC (AHR) has an earnings quality ratio of 4.22x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can AMERICAN HEALTHCARE REIT INC cover its interest payments?

AMERICAN HEALTHCARE REIT INC (AHR) has an interest coverage ratio of 4.8x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is AMERICAN HEALTHCARE REIT INC?

AMERICAN HEALTHCARE REIT INC (AHR) scores 54 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.