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

Diversified Healthcare Trust (DHCNL) 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.

Diversified Healthcare Trust Financials

DHCNL

Source SEC Filings (10-K/10-Q) Updated Dec 31, 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 18 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 DHCNL FY2025 2026-04-22

Asset sales are funding debt reduction while a heavily depreciated, interest-burdened portfolio keeps reported losses ahead of cash losses.

In FY2025, positive investing cash flow of $483.6M was almost entirely matched by financing outflows of -$492.0M, pointing to asset monetizations being directed toward balance-sheet repair rather than expansion. Cash still ended the year at $105.4M and operating cash flow slipped to -$19.6M, so the company is creating flexibility more by reshaping the portfolio than by generating surplus cash from operations.

The gap between earnings and cash is driven largely by noncash depreciation: FY2025 depreciation was $261.9M against a net loss of -$285.9M. But interest expense still ran at $204.5M on $2.44B of long-term debt, which helps explain why lighter accounting losses did not become positive operating cash.

This is becoming a smaller but denser asset base: revenue reached $1.54B in FY2025 from $1.41B in FY2023 without asset growth. Meanwhile total assets fell to $4.36B from $5.45B, implying better revenue generation per asset dollar even though the asset base still produced a loss.

Financial Health Signals

Financial Profile 19/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Diversified Healthcare Trust's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Growth

Diversified Healthcare Trust's revenue grew a modest 2.8% year-over-year to $1.5B. This slow but positive growth earns a score of 41/100.

Leverage

Diversified Healthcare Trust carries a low D/E ratio of 1.47, meaning only $1.47 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 72/100, indicating a strong balance sheet with room for future borrowing.

Returns

Diversified Healthcare Trust generates a -17.2% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is up from -18.9% the prior year.

Piotroski F-Score Neutral

4/9

Diversified Healthcare Trust passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Low Quality

0.07x

For every $1 of reported earnings, Diversified Healthcare Trust generates $0.07 in operating cash flow (-$19.6M OCF vs -$285.9M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Earnings & Revenue

Revenue

$1.5B

YoY+2.8%

5Y CAGR-1.2%

10Y CAGR+4.4%

Diversified Healthcare Trust generated $1.5B in revenue in fiscal year 2025. This represents an increase of 2.8% from the prior year.

EBITDA

N/A

Net Income

-$285.9M

YoY+22.8%

Diversified Healthcare Trust reported -$285.9M in net income in fiscal year 2025. This represents an increase of 22.8% from the prior year.

EPS (Diluted)

$-1.19

YoY+23.2%

Diversified Healthcare Trust earned $-1.19 per diluted share (EPS) in fiscal year 2025. This represents an increase of 23.2% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$105.4M

YoY-27.1%

5Y CAGR+7.2%

10Y CAGR+10.8%

Diversified Healthcare Trust held $105.4M in cash against $2.4B in long-term debt as of fiscal year 2025.

Dividends Per Share

$0.04

YoY+0.0%

5Y CAGR-26.0%

10Y CAGR-30.7%

Diversified Healthcare Trust paid $0.04 per share in dividends in fiscal year 2025. This represents an increase of 0.0% from the prior year.

Shares Outstanding

242M

YoY+0.4%

5Y CAGR+0.3%

10Y CAGR+0.2%

Diversified Healthcare Trust had 242M shares outstanding in fiscal year 2025. This represents an increase of 0.4% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

-18.6%

YoY+6.2pp

5Y CAGR-10.1pp

10Y CAGR-31.0pp

Diversified Healthcare Trust's net profit margin was -18.6% in fiscal year 2025, showing the share of revenue converted to profit. This is up 6.2 percentage points from the prior year.

Return on Equity

-17.2%

YoY+1.7pp

5Y CAGR-11.6pp

10Y CAGR-20.9pp

Diversified Healthcare Trust's ROE was -17.2% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 1.7 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

$1.1M

YoY+26.7%

5Y CAGR+46.3%

10Y CAGR+18.4%

Diversified Healthcare Trust spent $1.1M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 26.7% from the prior year.

Capital Expenditures

N/A

DHCNL Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$1.5B+2.8%	$1.5B+6.0%	$1.4B+9.9%	$1.3B-7.2%	$1.4B-15.2%	$1.6B
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	$45.5M+71.6%	$26.5M+1.5%	$26.1M-1.1%	$26.4M-22.4%	$34.1M+11.4%	$30.6M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$204.5M-13.1%	$235.2M+22.7%	$191.8M-8.4%	$209.4M-18.1%	$255.8M+26.9%	$201.5M
Income Tax	$1.7M+273.2%	$467K+4.9%	$445K-37.3%	$710K-50.3%	$1.4M+14.4%	$1.3M
Net Income	-$285.9M+22.8%	-$370.3M-26.1%	-$293.6M-1761.1%	-$15.8M-109.0%	$174.5M+225.1%	-$139.5M
EPS (Diluted)	$-1.19+23.2%	$-1.55-26.0%	$-1.23-1657.1%	$-0.07-109.6%	$0.73+223.7%	$-0.59

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$379.6M-2.4%	$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
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	$12.5M-2.0%	$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
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$46.9M-4.2%	$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
Income Tax	$514K+52.5%	$337K-60.0%	$843K+1620.4%	$49K+228.9%	-$38K-125.7%	$148K-12.9%	$170K-9.1%	$187K
Net Income	-$21.2M+87.1%	-$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
EPS (Diluted)	N/A	$-0.68-78.9%	$-0.38-850.0%	$-0.04	N/A	$-0.410.0%	$-0.41-13.9%	$-0.36

DHCNL Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$4.4B-15.1%	$5.1B-5.7%	$5.4B-9.3%	$6.0B-9.4%	$6.6B+2.3%	$6.5B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$105.4M-27.1%	$144.6M-41.2%	$245.9M-62.6%	$658.1M+3.7%	$634.8M+753.1%	$74.4M
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	$2.7B-15.2%	$3.2B+2.2%	$3.1B-7.6%	$3.4B-15.1%	$4.0B+2.7%	$3.9B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$2.4B-19.9%	$3.1B	N/A	N/A	N/A	N/A
Total Equity	$1.7B-15.0%	$2.0B-16.2%	$2.3B-11.4%	$2.6B-0.9%	$2.7B+6.7%	$2.5B
Retained Earnings	$1.1B-20.3%	$1.4B-20.8%	$1.8B-14.2%	$2.1B-0.8%	$2.1B+9.1%	$1.9B

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$4.4B-6.9%	$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
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$105.4M-47.7%	$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
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	$2.7B-10.0%	$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
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$2.4B	N/A	N/A	N/A	$3.1B	N/A	N/A	N/A
Total Equity	$1.7B-1.4%	$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
Retained Earnings	$1.1B-1.9%	$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

DHCNL Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$19.6M-117.5%	$112.2M+970.5%	$10.5M+126.0%	-$40.4M+36.3%	-$63.3M-139.9%	$158.5M
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	$483.6M+358.6%	-$187.0M+7.5%	-$202.1M-152.1%	$387.7M+59.8%	$242.7M+700.2%	-$40.4M
Financing Cash Flow	-$492.0M-2105.2%	-$22.3M+91.1%	-$249.7M+63.1%	-$676.0M-190.5%	$746.7M+1039.5%	-$79.5M
Dividends Paid	$9.7M+0.4%	$9.6M+0.3%	$9.6M+0.3%	$9.6M+0.3%	$9.5M-77.7%	$42.8M
Share Buybacks	$1.1M+26.7%	$904K+130.0%	$393K+129.8%	$171K-55.4%	$383K+124.0%	$171K

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	-$20.1M+59.2%	-$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
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	$207.4M+3291.4%	$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
Financing Cash Flow	-$275.1M-364.0%	$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
Dividends Paid	$2.4M+0.3%	$2.4M0.0%	$2.4M0.0%	$2.4M0.0%	$2.4M+0.3%	$2.4M+0.1%	$2.4M0.0%	$2.4M
Share Buybacks	$82K-91.4%	$954K+826.2%	$103K+1616.7%	$6K+200.0%	$2K-99.7%	$781K+1716.3%	$43K-44.9%	$78K

DHCNL Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
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	-18.6%+6.2pp	-24.8%-3.9pp	-20.8%-19.6pp	-1.2%-13.9pp	12.6%+21.2pp	-8.5%
Return on Equity	-17.2%+1.7pp	-18.9%-6.3pp	-12.6%-12.0pp	-0.6%-7.2pp	6.6%+12.1pp	-5.6%
Return on Assets	-6.6%+0.6pp	-7.2%-1.8pp	-5.4%-5.1pp	-0.3%-2.9pp	2.6%+4.8pp	-2.1%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	1.47-0.1	1.56+0.2	1.33+0.1	1.27-0.2	1.49-0.1	1.55
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	N/A	N/A	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	N/A	N/A
Net Margin	-5.6%+36.6pp	-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%
Return on Equity	-1.3%+8.4pp	-9.7%-4.8pp	-4.9%-4.5pp	-0.5%+4.0pp	-4.5%+0.4pp	-4.8%-0.3pp	-4.5%-0.7pp	-3.8%
Return on Assets	-0.5%+3.0pp	-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%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	1.47-0.3	1.77+0.2	1.560.0	1.560.0	1.56-0.0	1.58+0.1	1.48+0.1	1.38
FCF Margin	N/A	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 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 (DHCNL) 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 (DHCNL) reported a net income of -$285.9M in fiscal year 2025, with a net profit margin of -18.6%.

How much debt does Diversified Healthcare Trust have?

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

What is Diversified Healthcare Trust's net profit margin?

Diversified Healthcare Trust (DHCNL) had a net profit margin of -18.6% in fiscal year 2025, 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 2025.

What is Diversified Healthcare Trust's return on equity (ROE)?

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

What is Diversified Healthcare Trust's operating cash flow?

Diversified Healthcare Trust (DHCNL) generated -$19.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Diversified Healthcare Trust's total assets?

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

Does Diversified Healthcare Trust buy back shares?

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

How many shares does Diversified Healthcare Trust have outstanding?

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

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

Diversified Healthcare Trust (DHCNL) 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.

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

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

What is Diversified Healthcare Trust's cash runway?

Based on fiscal year 2025 data, Diversified Healthcare Trust (DHCNL) had $105.4M in cash against an annual operating cash burn of $19.6M. This gives an estimated cash runway of approximately 64 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

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

Diversified Healthcare Trust (DHCNL) has a Piotroski F-Score of 4 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 to 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 0.07x, considered low quality (accrual-driven). 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.

How financially healthy is Diversified Healthcare Trust?

Diversified Healthcare Trust (DHCNL) scores 19 out of 100 on our Financial Profile, indicating weak 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.