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Diversified Healthcare Trust (DHC) Financials

DHC
Trailing 12 months to June 30, 2026
Revenue $1.5B -1.5% YoY
Net Income -$266.0M +7.3% YoY
EPS (Diluted) -$1.11 +7.5% YoY
Operating Cash Flow -$22.7M -125.4% YoY
Market Cap $1.8B as of Sep 12, 2026
Price / Sales 1.2x on $1.5B revenue, trailing 12 months to June 30, 2026
Price / Earnings n/m net loss, so no earnings multiple, trailing 12 months to June 30, 2026
Price / Book 1.1x on $1.6B equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 12, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 3, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the DHC SEC filings page.

Diversified Healthcare Trust (DHC) reported $1.5B in revenue over the twelve months to Jun 30, 2026, down 1.5% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).

Rhea AI DHC FY2025

Asset sales and debt reduction are reshaping a loss-making property platform faster than operating cash generation is stabilizing.

Across FY2023 through FY2025, revenue expanded while net losses persisted; the business is adding top-line volume without restoring profitability. In FY2025, operating cash flow turned negative while investing cash flow was positive, so reported cash movement depended more on portfolio transactions than recurring operations.

FY2025's investing inflow of $483.6M coincided with a contraction in total assets, indicating portfolio monetization rather than expansion. Long-term debt fell by $610.6M while debt-to-equity eased; deleveraging occurred despite the year's net loss.

FY2024 produced $112.2M of operating cash despite a -$370.3M net loss, signaling substantial noncash or working-capital support. In FY2025, operating cash flow slipped to -$19.6M even as the net loss narrowed; accounting improvement did not carry through to cash.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Financial health score not available

Diversified Healthcare Trust does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial
4/7

Diversified Healthcare Trust passes 4 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality No Cash Backing
N/A

Diversified Healthcare Trust reported a net loss of $285.9M while operations used $19.6M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Key Financial Metrics

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Earnings & Revenue

Revenue
$365.4M
YoY-4.5%
QoQ-0.3%
5Y CAGR+1.1%
10Y CAGR+3.4%

Diversified Healthcare Trust generated $365.4M in revenue in Q2 2026. This represents a decrease of 4.5% from the same quarter a year earlier. Against the prior quarter it is down 0.3%.

Net Income
-$37.4M
YoY+59.2%
QoQ+13.5%

Diversified Healthcare Trust reported -$37.4M in net income in Q2 2026. This represents an increase of 59.2% from the same quarter a year earlier. Against the prior quarter it is up 13.5%.

EPS (Diluted)
-$0.16
YoY+57.9%
QoQ+11.1%

Diversified Healthcare Trust earned -$0.16 per diluted share (EPS) in Q2 2026. This represents an increase of 57.9% from the same quarter a year earlier. Against the prior quarter it is up 11.1%.

EBITDA

Not reported for Q2 2026.

Cash & Balance Sheet

Cash & Debt
$116.8M
YoY-17.6%
QoQ-4.1%
5Y CAGR-32.7%
10Y CAGR+16.4%

Diversified Healthcare Trust held $116.8M in cash against $2.4B in long-term debt as of Q2 2026.

Dividends Per Share
$0.01
YoY0.0%
QoQ0.0%

Diversified Healthcare Trust paid $0.01 per share in dividends in Q2 2026. That is unchanged from the same quarter a year earlier. It is unchanged from the prior quarter.

Shares Outstanding
242M
YoY+0.3%
QoQ0.0%
5Y CAGR+0.3%
10Y CAGR+0.2%

Diversified Healthcare Trust had 242M shares outstanding in Q2 2026. This represents an increase of 0.3% from the same quarter a year earlier. It is unchanged from the prior quarter.

Free Cash Flow

Not reported for Q2 2026.

Margins & Returns

Net Margin
-10.2%
YoY+13.7pp
QoQ+1.6pp
5Y change-0.4pp
10Y change-25.3pp

Diversified Healthcare Trust's net profit margin was -10.2% in Q2 2026, showing the share of revenue converted to profit. This is up 13.7 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.6 percentage points.

Return on Equity
-2.4%
YoY+2.6pp
QoQ+0.3pp
5Y change-0.9pp
10Y change-3.6pp

Diversified Healthcare Trust's ROE was -2.4% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 2.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.3 percentage points.

Gross Margin

Not reported for Q2 2026.

Operating Margin

Not reported for Q2 2026.

Capital Allocation

Share Buybacks
$50K
YoY-51.5%
QoQ-43.2%
5Y CAGR-3.3%

Diversified Healthcare Trust spent $50K on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 51.5% from the same quarter a year earlier. Against the prior quarter it is down 43.2%.

R&D Spending

Not reported for Q2 2026.

Capital Expenditures

Not reported for Q2 2026.

DHC Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

DHC quarterly income statement
MetricQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Revenue$365.4M-4.5%$366.5M-5.3%$379.6M0.0%$388.7M+4.0%$382.7M+3.0%$386.9M+4.3%$379.6M+5.0%$373.6M+4.8%
SG&A Expenses$19.3M+73.0%$14.0M+56.0%$12.5M+1106.9%$12.8M-8.2%$11.2M+78.5%$9.0M+18.9%-$1.2M-120.7%$13.9M+100.4%
Interest Expense$37.1M-27.2%$37.0M-35.9%$46.9M-21.3%$48.9M-17.8%$50.9M-13.2%$57.8M+0.4%$59.5M+21.8%$59.4M+24.5%
Income Tax$1.3M+53.9%$622K+1169.4%$514K+1452.6%$337K+127.7%$843K+395.9%$49K-73.8%-$38K-157.6%$148K-21.7%
Net Income-$37.4M+59.2%-$43.3M-381.6%-$21.2M+75.7%-$164.0M-66.2%-$91.6M+6.4%-$9.0M+89.6%-$87.4M+14.7%-$98.7M-50.0%
EPS (Basic)-$0.16+57.9%-$0.18-350.0%-$0.09+75.7%-$0.68-65.9%-$0.38+7.3%-$0.04+88.9%-$0.37+14.0%-$0.41-46.4%
EPS (Diluted)-$0.16+57.9%-$0.18-350.0%-$0.09+75.7%-$0.68-65.9%-$0.38+7.3%-$0.04+88.9%-$0.37+14.0%-$0.41-46.4%
Diluted Shares (Avg)241M+0.3%241M+0.3%N/A240M+0.3%240M+0.3%240M+0.3%N/A240M+0.3%

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, Operating Income, EBITDA.

DHC Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

DHC quarterly balance sheet
MetricQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Total Assets$4.2B-10.9%$4.3B-14.6%$4.4B-15.1%$4.7B-11.4%$4.8B-10.8%$5.0B-6.6%$5.1B-5.7%$5.3B-4.4%
Cash & Equivalents$116.8M-17.6%$121.8M-59.8%$105.4M-27.1%$201.4M-21.5%$141.8M-46.6%$302.6M+46.1%$144.6M-41.2%$256.5M-7.8%
Short-Term Investments$0$0$0$0$0$0$0$0
Long-Term Investments$0$0$0$0$0$0$0$0
Total Liabilities$2.7B-8.5%$2.6B-13.1%$2.7B-15.2%$3.0B-7.5%$2.9B-8.9%$3.0B-1.7%$3.2B+2.2%$3.2B+4.8%
Long-Term Debt$2.4B$2.4B$2.4B-19.9%N/AN/AN/A$3.1BN/A
Total Equity$1.6B-14.7%$1.6B-16.8%$1.7B-15.0%$1.7B-17.6%$1.9B-13.7%$1.9B-13.4%$2.0B-16.2%$2.0B-16.1%
Retained Earnings$1.0B-20.3%$1.1B-22.9%$1.1B-20.3%$1.1B-23.5%$1.3B-18.0%$1.4B-17.3%$1.4B-20.8%$1.5B-20.5%

Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Goodwill, Current Liabilities, Non-Current Liabilities.

DHC Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

DHC quarterly cash flow statement
MetricQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Operating Cash Flow$38.4M-27.6%$8.3M+357.2%-$20.1M-210.5%-$49.3M-333.2%$53.0M+19.7%-$3.2M-111.3%$18.2M+352.4%$21.1M+250.6%
Depreciation & Amortization$62.5M-5.6%$62.9M-7.9%$62.0M-20.0%$65.3M-5.3%$66.3M-3.1%$68.3M-2.6%$77.5M-7.3%$69.0M+2.6%
Investing Cash Flow-$38.7M-84.0%$13.6M-95.3%$207.4M+413.6%$6.1M+124.3%-$21.1M+42.9%$291.1M+594.7%-$66.1M-29.0%-$25.2M+58.3%
Financing Cash Flow-$3.3M+98.3%-$3.9M+97.0%-$275.1M-332.6%$104.2M+2351.8%-$190.0M-448.8%-$131.0M-1430.8%-$63.6M-341.6%-$4.6M-33.0%
Dividends Paid$2.4M+0.3%$2.4M+0.3%$2.4M+0.3%$2.4M+0.3%$2.4M+0.4%$2.4M+0.4%$2.4M+0.4%$2.4M+0.3%
Share Buybacks$50K-51.5%$88K+1366.7%$82K+4000.0%$954K+22.2%$103K+139.5%$6K-92.3%$2K-71.4%$781K+121.2%

Not reported in any period shown, so not listed: Stock-Based Compensation, Capital Expenditures, Free Cash Flow.

DHC Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

DHC quarterly financial ratios
MetricQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Net Margin-10.2%+13.7pp-11.8%-9.5pp-5.6%+17.4pp-42.2%-15.8pp-23.9%+2.4pp-2.3%+20.9pp-23.0%+5.3pp-26.4%-8.0pp
Return on Equity-2.4%+2.6pp-2.7%-2.2pp-1.3%+3.2pp-9.7%-4.9pp-4.9%-0.4pp-0.5%+3.4pp-4.5%-0.1pp-4.8%-2.1pp
Return on Assets-0.9%+1.1pp-1.0%-0.8pp-0.5%+1.2pp-3.5%-1.6pp-1.9%-0.1pp-0.2%+1.4pp-1.7%+0.2pp-1.9%-0.7pp
Debt-to-Equity1.540.0x1.51-0.1x1.47-0.1x1.77+0.2x1.56+0.1x1.56+0.2x1.56+0.2x1.58+0.3x
Asset Turnover0.090.0x0.090.0x0.090.0x0.080.0x0.080.0x0.080.0x0.070.0x0.070.0x

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio, FCF Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company Fiscal year Revenue Net income Net margin Market cap Health score
Diversified Healthcare Trust DHC FY2025 $1.5B -$285.9M -18.6% $1.8B
Global Medical REIT Inc. GMRE FY2025 $148.2M -$6.9M -4.6% $482.4M 45/100
Sila Realty Trust, Inc. SILA FY2025 $197.5M $33.1M 16.8% $1.7B 42/100
LTC Properties, Inc. LTC FY2025 $262.9M $123.9M 47.1% $2.3B 58/100
Strawberry Fields REIT, Inc. STRW FY2025 $155.0M $7.6M 4.9% $195.7M 65/100
Universal Health Realty Income Trust UHT FY2025 $99.2M $17.6M 17.8% $561.5M 55/100

Frequently Asked Questions

What is Diversified Healthcare Trust's annual revenue?

Diversified Healthcare Trust (DHC) reported $1.5B in total revenue for fiscal year 2025. This represents a 2.8% 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 Diversified Healthcare Trust's revenue growing?

Diversified Healthcare Trust (DHC) revenue grew by 2.8% year-over-year, from $1.5B to $1.5B in fiscal year 2025.

Is Diversified Healthcare Trust profitable?

No, Diversified Healthcare Trust (DHC) reported a net income of -$285.9M in fiscal year 2025, with a net profit margin of -18.6%.

Diversified Healthcare Trust (DHC) reported diluted earnings per share of -$1.19 for fiscal year 2025. This represents a 23.2% 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.

As of fiscal year 2025, Diversified Healthcare Trust (DHC) had $105.4M in cash and equivalents against $2.4B in long-term debt.

Diversified Healthcare Trust (DHC) had a net profit margin of -18.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Yes, Diversified Healthcare Trust (DHC) paid $0.04 per share in dividends during fiscal year 2025.

Diversified Healthcare Trust (DHC) has a return on equity of -17.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Diversified Healthcare Trust (DHC) recorded an outflow of $19.6M in operating cash flow during fiscal year 2025, representing cash used by core business activities.

Diversified Healthcare Trust (DHC) had $4.4B in total assets as of fiscal year 2025, including both current and long-term assets.

Yes, Diversified Healthcare Trust (DHC) spent $1.1M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Diversified Healthcare Trust (DHC) had 242M shares outstanding as of fiscal year 2025.

Diversified Healthcare Trust (DHC) had a debt-to-equity ratio of 1.47 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Diversified Healthcare Trust (DHC) had a return on assets of -6.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Diversified Healthcare Trust (DHC) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $1.8B as of Sep 12, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

Diversified Healthcare Trust (DHC) trades at 1.2x sales, its market capitalization divided by revenue of $1.5B revenue, trailing 12 months to June 30, 2026. The market capitalization is $1.8B as of Sep 12, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

At the end of fiscal year 2025, Diversified Healthcare Trust (DHC) held $105.4M in cash, cash equivalents and investments, and reported an operating cash outflow of $19.6M over that year. Dividing the one by the other, the reported balance equals about 64 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.

Diversified Healthcare Trust (DHC) has a Piotroski F-Score of 4 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Diversified Healthcare Trust (DHC) reported a net loss of $285.9M while operations used $19.6M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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.

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