Diversified Healthcare Trust Financials

DHCNL

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows Diversified Healthcare Trust (DHCNL) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 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

Piotroski F-Score Weak

3/9

Diversified Healthcare Trust passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Mixed

-0.30x

For every $1 of reported earnings, Diversified Healthcare Trust generates $-0.30 in operating cash flow ($112.2M OCF vs -$370.3M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Key Financial Metrics

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Revenue

$1.5B

YoY+6.0%

5Y CAGR+7.5%

10Y CAGR+5.9%

Diversified Healthcare Trust generated $1.5B in revenue in fiscal year 2024. This represents an increase of 6.0% from the prior year.

EBITDA

N/A

Free Cash Flow

N/A

Net Income

-$370.3M

YoY-26.1%

Diversified Healthcare Trust reported -$370.3M in net income in fiscal year 2024. This represents a decrease of 26.1% from the prior year.

EPS (Diluted)

$-1.55

YoY-26.0%

Diversified Healthcare Trust earned $-1.55 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 26.0% from the prior year.

Cash & Debt

$144.6M

YoY-41.2%

5Y CAGR+31.1%

10Y CAGR+18.0%

Diversified Healthcare Trust held $144.6M in cash against $3.1B in long-term debt as of fiscal year 2024.

Dividends Per Share

$0.04

YoY+0.0%

5Y CAGR-45.6%

10Y CAGR-30.7%

Diversified Healthcare Trust paid $0.04 per share in dividends in fiscal year 2024. This represents an increase of 0.0% from the prior year.

Shares Outstanding

241M

YoY+0.4%

5Y CAGR+0.3%

10Y CAGR+1.7%

Diversified Healthcare Trust had 241M shares outstanding in fiscal year 2024. This represents an increase of 0.4% from the prior year.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

-24.8%

YoY-3.9pp

5Y CAGR-16.3pp

10Y CAGR-43.5pp

Diversified Healthcare Trust's net profit margin was -24.8% in fiscal year 2024, showing the share of revenue converted to profit. This is down 3.9 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

N/A

Share Buybacks

$904K

YoY+130.0%

5Y CAGR+24.8%

Diversified Healthcare Trust spent $904K on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents an increase of 130.0% from the prior year.

Capital Expenditures

N/A

DHCNL Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$1.5B+6.0%	$1.4B+9.9%	$1.3B-7.2%	$1.4B-15.2%	$1.6B+56.9%	$1.0B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$26.5M+1.5%	$26.1M-1.1%	$26.4M-22.4%	$34.1M+11.4%	$30.6M-17.4%	$37.0M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$235.2M+22.7%	$191.8M-8.4%	$209.4M-18.1%	$255.8M+26.9%	$201.5M+11.9%	$180.1M
Income Tax	$467K+4.9%	$445K-37.3%	$710K-50.3%	$1.4M+14.4%	$1.3M+186.7%	$436K
Net Income	-$370.3M-26.1%	-$293.6M-1761.1%	-$15.8M-109.0%	$174.5M+225.1%	-$139.5M-58.0%	-$88.2M
EPS (Diluted)	$-1.55-26.0%	$-1.23-1657.1%	$-0.07-109.6%	$0.73+223.7%	$-0.59-59.5%	$-0.37

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q3'24	Q2'24	Q1'24	Q4'23
Revenue	$388.7M+1.6%	$382.7M-1.1%	$386.9M+1.9%	$379.6M+1.6%	$373.6M+0.6%	$371.4M+0.2%	$370.8M+2.6%	$361.5M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$12.8M+14.4%	$11.2M+24.2%	$9.0M+822.9%	-$1.2M-108.9%	$13.9M+122.5%	$6.3M-17.3%	$7.6M+25.7%	$6.0M
Operating Income	$73.7M+8.2%	$68.1M+1.8%	$66.9M-9.1%	$73.7M+11.8%	$65.9M+7.4%	$61.3M-3.7%	$63.7M+5.7%	$60.2M
Interest Expense	$48.9M-4.0%	$50.9M-11.9%	$57.8M-2.8%	$59.5M+0.1%	$59.4M+1.3%	$58.7M+2.0%	$57.6M+17.9%	$48.9M
Income Tax	$337K-60.0%	$843K+1620.4%	$49K+228.9%	-$38K-125.7%	$148K-12.9%	$170K-9.1%	$187K+183.3%	$66K
Net Income	-$164.0M-79.0%	-$91.6M-919.8%	-$9.0M+89.7%	-$87.4M+11.4%	-$98.7M-0.8%	-$97.9M-13.5%	-$86.3M+15.9%	-$102.6M
EPS (Diluted)	$-0.68-78.9%	$-0.38-850.0%	$-0.04+89.2%	$-0.37+9.8%	$-0.410.0%	$-0.41-13.9%	$-0.36+16.3%	$-0.43

DHCNL Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$5.1B-5.7%	$5.4B-9.3%	$6.0B-9.4%	$6.6B+2.3%	$6.5B-2.7%	$6.7B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$144.6M-41.2%	$245.9M-62.6%	$658.1M+3.7%	$634.8M+753.1%	$74.4M+99.2%	$37.4M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$3.2B+2.2%	$3.1B-7.6%	$3.4B-15.1%	$4.0B+2.7%	$3.9B+2.1%	$3.8B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$3.1B	N/A	N/A	N/A	N/A	N/A
Total Equity	$2.0B-16.2%	$2.3B-11.4%	$2.6B-0.9%	$2.7B+6.7%	$2.5B-8.8%	$2.7B
Retained Earnings	$1.4B-20.8%	$1.8B-14.2%	$2.1B-0.8%	$2.1B+9.1%	$1.9B-6.8%	$2.1B

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q3'24	Q2'24	Q1'24	Q4'23
Total Assets	$4.7B-1.5%	$4.8B-4.8%	$5.0B-2.7%	$5.1B-2.8%	$5.3B-0.9%	$5.3B-0.3%	$5.3B-1.8%	$5.4B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$201.4M+42.0%	$141.8M-53.1%	$302.6M+109.3%	$144.6M-43.6%	$256.5M-3.4%	$265.6M+28.2%	$207.1M-15.8%	$245.9M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$3.0B+3.2%	$2.9B-4.8%	$3.0B-4.1%	$3.2B-1.8%	$3.2B+1.7%	$3.2B+2.7%	$3.1B-0.3%	$3.1B
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	$3.1B	N/A	N/A	N/A	N/A
Total Equity	$1.7B-9.0%	$1.9B-4.8%	$1.9B-0.6%	$2.0B-4.4%	$2.0B-4.7%	$2.1B-4.4%	$2.2B-3.8%	$2.3B
Retained Earnings	$1.1B-12.5%	$1.3B-6.6%	$1.4B-0.6%	$1.4B-5.8%	$1.5B-6.2%	$1.6B-5.8%	$1.7B-4.9%	$1.8B

DHCNL Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$112.2M+970.5%	$10.5M+126.0%	-$40.4M+36.3%	-$63.3M-139.9%	$158.5M-40.4%	$265.8M
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	-$187.0M+7.5%	-$202.1M-152.1%	$387.7M+59.8%	$242.7M+700.2%	-$40.4M-146.9%	$86.2M
Financing Cash Flow	-$22.3M+91.1%	-$249.7M+63.1%	-$676.0M-190.5%	$746.7M+1039.5%	-$79.5M+78.5%	-$369.9M
Dividends Paid	$9.6M+0.3%	$9.6M+0.3%	$9.6M+0.3%	$9.5M-77.7%	$42.8M-78.6%	$199.7M
Share Buybacks	$904K+130.0%	$393K+129.8%	$171K-55.4%	$383K+124.0%	$171K-42.8%	$299K

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q3'24	Q2'24	Q1'24	Q4'23
Operating Cash Flow	-$49.3M-193.0%	$53.0M+1734.9%	-$3.2M-117.8%	$18.2M-13.9%	$21.1M-52.3%	$44.3M+54.9%	$28.6M+496.8%	-$7.2M
Capital Expenditures	$0	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	$102.5M	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	$6.1M+129.0%	-$21.1M-107.2%	$291.1M+540.1%	-$66.1M-162.5%	-$25.2M+31.6%	-$36.9M+37.4%	-$58.8M-14.8%	-$51.3M
Financing Cash Flow	$104.2M+154.8%	-$190.0M-45.0%	-$131.0M-106.0%	-$63.6M-1274.3%	-$4.6M-108.5%	$54.5M+736.4%	-$8.6M-132.5%	$26.3M
Dividends Paid	$2.4M0.0%	$2.4M0.0%	$2.4M0.0%	$2.4M+0.3%	$2.4M+0.1%	$2.4M0.0%	$2.4M0.0%	$2.4M
Share Buybacks	$954K+826.2%	$103K+1616.7%	$6K+200.0%	$2K-99.7%	$781K+1716.3%	$43K-44.9%	$78K+1014.3%	$7K

DHCNL Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	-24.8%-3.9pp	-20.8%-19.6pp	-1.2%-13.9pp	12.6%+21.2pp	-8.5%-0.1pp	-8.5%
Return on Equity	N/A	N/A	N/A	6.6%	N/A	N/A
Return on Assets	-7.2%-1.8pp	-5.4%-5.1pp	-0.3%-2.9pp	2.6%+4.8pp	-2.1%-0.8pp	-1.3%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	1.56+0.2	1.33+0.1	1.27-0.2	1.49-0.1	1.55+0.2	1.38
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q3'24	Q2'24	Q1'24	Q4'23
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	34.0%+1.0pp	33.0%-2.0pp	34.9%-1.8pp	36.8%+1.6pp	35.2%+2.4pp	32.8%-1.3pp	34.1%+12.4pp	21.6%
Net Margin	-42.2%-18.3pp	-23.9%-21.6pp	-2.3%+20.7pp	-23.0%+3.4pp	-26.4%-0.1pp	-26.4%-3.1pp	-23.3%+5.1pp	-28.4%
Return on Equity	1.2%0.0pp	1.2%-0.2pp	1.4%-1.2pp	2.6%+1.2pp	1.4%+1.2pp	0.2%-0.8pp	1.0%-1.1pp	2.1%
Return on Assets	-3.5%-1.6pp	-1.9%-1.8pp	-0.2%+1.5pp	-1.7%+0.2pp	-1.9%-0.0pp	-1.8%-0.2pp	-1.6%+0.3pp	-1.9%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	1.77+0.2	1.560.0	1.560.0	1.56-0.0	1.58+0.1	1.48+0.1	1.38+0.0	1.33
FCF Margin	47.3%	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Frequently Asked Questions

What is Diversified Healthcare Trust's annual revenue?

Diversified Healthcare Trust (DHCNL) reported $1.5B in total revenue for fiscal year 2024. This represents a 6.0% 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 (DHCNL) revenue grew by 6% year-over-year, from $1.4B to $1.5B in fiscal year 2024.

Is Diversified Healthcare Trust profitable?

No, Diversified Healthcare Trust (DHCNL) reported a net income of -$370.3M in fiscal year 2024, with a net profit margin of -24.8%.

What is Diversified Healthcare Trust's earnings per share (EPS)?

Diversified Healthcare Trust (DHCNL) reported diluted earnings per share of $-1.55 for fiscal year 2024. This represents a -26.0% 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.

How much debt does Diversified Healthcare Trust have?

As of fiscal year 2024, Diversified Healthcare Trust (DHCNL) had $144.6M in cash and equivalents against $3.1B in long-term debt.

What is Diversified Healthcare Trust's net profit margin?

Diversified Healthcare Trust (DHCNL) had a net profit margin of -24.8% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

Does Diversified Healthcare Trust pay dividends?

Yes, Diversified Healthcare Trust (DHCNL) paid $0.04 per share in dividends during fiscal year 2024.

What is Diversified Healthcare Trust's operating cash flow?

Diversified Healthcare Trust (DHCNL) generated $112.2M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Diversified Healthcare Trust's total assets?

Diversified Healthcare Trust (DHCNL) had $5.1B in total assets as of fiscal year 2024, including both current and long-term assets.

Does Diversified Healthcare Trust buy back shares?

Yes, Diversified Healthcare Trust (DHCNL) spent $904K on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.

How many shares does Diversified Healthcare Trust have outstanding?

Diversified Healthcare Trust (DHCNL) had 241M shares outstanding as of fiscal year 2024.

What is Diversified Healthcare Trust's debt-to-equity ratio?

Diversified Healthcare Trust (DHCNL) had a debt-to-equity ratio of 1.56 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Diversified Healthcare Trust's return on assets (ROA)?

Diversified Healthcare Trust (DHCNL) had a return on assets of -7.2% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Diversified Healthcare Trust's Piotroski F-Score?

Diversified Healthcare Trust (DHCNL) has a Piotroski F-Score of 3 out of 9, indicating weak 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 Diversified Healthcare Trust's earnings high quality?

Diversified Healthcare Trust (DHCNL) has an earnings quality ratio of -0.30x, considered mixed 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.