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Omega Healthcare Financials

OHI
Trailing 12 months to June 30, 2026
Revenue $1.3B +15.0% YoY
Net Income $268.9M +314.7% YoY
EPS (Diluted) $2.80 +72.8% YoY
Free Cash Flow Not reported for the trailing 12 months
Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Currency USD FYE December

Omega Healthcare (OHI) reported $1.3B in revenue over the twelve months to Jun 30, 2026, up 15.0% 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 OHI FY2025

Omega Healthcare’s core mechanic is converting asset income into operating cash that is largely distributed while leverage falls.

The most revealing FY2025 combination is tighter liquidity but better solvency: cash fell to $27M from $518M. Yet debt-to-equity improved from 1.1x to 0.8x, showing current cash generation is being used to reshape the balance sheet rather than to build a cash buffer, so short-term flexibility narrowed even as leverage improved.

In FY2025, dividends of $780M consumed most of operating cash flow of $879M. That leaves little internally generated cash for rebuilding liquidity after investing outflows, which is why the business behaves like a cash pass-through and why distribution policy strongly influences balance-sheet flexibility.

Long-term debt was $4.26B in FY2025 versus $5.25B in FY2021, a clear deleveraging trend rather than a one-year swing. Interest expense also eased to $215M from $235M, so the balance-sheet repair is starting to reduce the business’s fixed cash claims.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

FFO Margin FFOGrowth Leverage Interest Cov. AFFOMargin DividendCov. 26 / 100
Financial Health Score 26/100
Scored as: REITs peer group

Scored against REITs for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Omega Healthcare'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.

FFO Margin
56
FFO Growth
25
Leverage
0

Not available for Omega Healthcare, and counted as zero in the overall score.

Interest Cov.
0

Not available for Omega Healthcare, and counted as zero in the overall score.

AFFO Margin
60
Dividend Cov.
13
Piotroski F-Score Partial
6/7

Omega Healthcare passes 6 of 7 computable financial strength tests (2 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed
N/A

Omega Healthcare reported $609K of net income while generating $878.6M in operating cash flow. The ratio between the two is outside the range this page publishes as a per-dollar figure, so both figures are given instead.

Key Financial Metrics

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Earnings & Revenue

Revenue
$1.2B
YoY+13.2%
5Y CAGR+5.9%

Omega Healthcare generated $1.2B in revenue in fiscal year 2025. This represents an increase of 13.2% from the prior year.

Net Income
$609K
YoY+45.9%
5Y CAGR-67.3%
10Y CAGR-44.8%

Omega Healthcare reported $609K in net income in fiscal year 2025. This represents an increase of 45.9% from the prior year.

EPS (Diluted)
$1.94
YoY+25.2%

Omega Healthcare earned $1.94 per diluted share (EPS) in fiscal year 2025. This represents an increase of 25.2% from the prior year.

EBITDA

Not reported for fiscal year 2025.

Cash & Balance Sheet

Cash & Debt
$27.0M
YoY-94.8%
5Y CAGR-30.2%
10Y CAGR+17.4%

Omega Healthcare held $27.0M in cash against $4.3B in long-term debt as of fiscal year 2025.

Dividends Per Share
$2.68
YoY0.0%

Omega Healthcare paid $2.68 per share in dividends in fiscal year 2025. That is unchanged from the prior year.

Shares Outstanding
296M
YoY+4.9%

Omega Healthcare had 296M shares outstanding in fiscal year 2025. This represents an increase of 4.9% from the prior year.

Free Cash Flow

Not reported for fiscal year 2025.

Margins & Returns

Net Margin
0.1%
YoY0.0pp
5Y CAGR-18.3pp

Omega Healthcare's net profit margin was 0.1% in fiscal year 2025, showing the share of revenue converted to profit. That is unchanged from the prior year.

Return on Equity
0.0%
YoY0.0pp
5Y CAGR-4.3pp
10Y CAGR-6.2pp

Omega Healthcare's ROE was 0.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. That is unchanged from the prior year.

Gross Margin

Not reported for fiscal year 2025.

Operating Margin

Not reported for fiscal year 2025.

Capital Allocation

None of these metrics is reported for fiscal year 2025.

OHI Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

OHI quarterly income statement
MetricQ2'26Q1'26Q4'25Q3'25Q2'25Q1'25Q4'24Q3'24
Revenue$328.2M+1.6%$323.0M+1.2%$319.2M+2.4%$311.6M+10.3%$282.5M+2.1%$276.8M-0.9%$279.3M+1.2%$276.0M
SG&A Expenses$42.0M+61.4%$26.0M+4.1%$25.0M+5.1%$23.8M+2.0%$23.3M-27.3%$32.1M+42.1%$22.6M+3.7%$21.8M
Operating Income$330.9MN/AN/AN/A$281.2MN/AN/AN/A
Interest Expense$48.1M-3.3%$49.8M-3.8%$51.7M-11.0%$58.1M+9.9%$52.9M+1.2%$52.3M-5.4%$55.2M+1.0%$54.7M
Income Tax$4.6M-9.6%$5.1M+140.2%$2.1M-52.6%$4.5M-1.0%$4.5M+25.4%$3.6M+21.1%$3.0M-10.1%$3.3M
Net Income$362.8M+140.2%$151.0M+135.6%-$424.7M-336.3%$179.7M+31.6%$136.6M+25.3%$109.0M+137.3%-$292.6M-361.8%$111.8M
EPS (Diluted)$1.19+153.2%$0.47-14.5%$0.55-6.8%$0.59+28.3%$0.46+39.4%$0.33-19.5%$0.41-2.4%$0.42

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

OHI Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

OHI quarterly balance sheet
MetricQ2'26Q1'26Q4'25Q3'25Q2'25Q1'25Q4'24Q3'24
Total Assets$10.0B-2.1%$10.2B+1.8%$10.0B-5.2%$10.6B+0.5%$10.5B+8.7%$9.7B-1.9%$9.9B+3.4%$9.6B
Cash & Equivalents$39.0M+49.3%$26.1M-3.2%$27.0M-96.3%$737.2M+0.4%$734.2M+99.5%$368.0M-29.0%$518.3M+51.4%$342.4M
Goodwill$644.4M0.0%$644.4M0.0%$644.6M0.0%$644.6M0.0%$644.9M+0.1%$644.1M+0.1%$643.7M-0.1%$644.6M
Total Liabilities$4.4B-8.5%$4.8B+3.7%$4.6B-13.9%$5.4B-0.1%$5.4B+12.2%$4.8B-7.6%$5.2B-0.1%$5.2B
Long-Term DebtN/AN/A$4.3B-14.8%$5.0B-0.1%$5.0B+12.5%$4.4B-8.1%$4.8B-0.4%$4.9B
Total Equity$5.4B+3.8%$5.2B+0.2%$5.2B+2.9%$5.0B+1.0%$5.0B+5.2%$4.7B+4.5%$4.5B+7.8%$4.2B
Retained Earnings$5.2B+7.5%$4.8B+3.2%$4.7B+3.7%$4.5B+4.1%$4.3B+3.3%$4.2B+2.7%$4.1B+2.9%$4.0B

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

OHI Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

OHI quarterly cash flow statement
MetricQ2'26Q1'26Q4'25Q3'25Q2'25Q1'25Q4'24Q3'24
Operating Cash Flow$217.7M+1.0%$215.5M-6.6%$230.6M+1.7%$226.7M-5.2%$239.3M+31.5%$182.0M-20.5%$229.0M+23.8%$184.9M
Investing Cash Flow$552.1M+304.5%-$270.0M-2206.4%-$11.7M+86.0%-$83.8M+81.9%-$463.5M-2506.7%$19.3M+106.8%-$281.7M-111.1%-$133.5M
Financing Cash Flow-$639.1M-1276.6%$54.3M+105.8%-$940.5M-576.3%-$139.1M-123.6%$589.0M+269.4%-$347.7M-242.8%$243.4M-9.2%$268.1M
Dividends Paid$200.0M+0.8%$198.4M0.0%$198.4M+0.1%$198.2M+1.9%$194.6M+2.8%$189.2M+4.3%$181.4M+4.7%$173.3M

Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Share Buybacks.

OHI Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

OHI quarterly financial ratios
MetricQ2'26Q1'26Q4'25Q3'25Q2'25Q1'25Q4'24Q3'24
Operating Margin100.8%N/AN/AN/A99.6%N/AN/AN/A
Net Margin110.5%46.8%-133.1%57.7%+9.3pp48.4%+9.0pp39.4%-104.7%40.5%
Return on Equity6.7%+3.8pp2.9%+11.1pp-8.2%-11.8pp3.6%+0.8pp2.7%+0.4pp2.3%+8.7pp-6.4%-9.1pp2.7%
Return on Assets3.6%+2.1pp1.5%+5.7pp-4.2%-5.9pp1.7%+0.4pp1.3%+0.2pp1.1%+4.1pp-3.0%-4.1pp1.2%
Debt-to-Equity0.81-0.1x0.92+0.1x0.82-0.2x0.990.0x1.00+0.1x0.94-0.1x1.07-0.1x1.15

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

Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin.

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Frequently Asked Questions

What is Omega Healthcare's annual revenue?

Omega Healthcare (OHI) reported $1.2B in total revenue for fiscal year 2025. This represents a 13.2% 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 Omega Healthcare's revenue growing?

Omega Healthcare (OHI) revenue grew by 13.2% year-over-year, from $1.1B to $1.2B in fiscal year 2025.

Is Omega Healthcare profitable?

Yes, Omega Healthcare (OHI) reported a net income of $609K in fiscal year 2025, with a net profit margin of 0.1%.

Omega Healthcare (OHI) reported diluted earnings per share of $1.94 for fiscal year 2025. This represents a 25.2% 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, Omega Healthcare (OHI) had $27.0M in cash and equivalents against $4.3B in long-term debt.

Omega Healthcare (OHI) had a net profit margin of 0.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Yes, Omega Healthcare (OHI) paid $2.68 per share in dividends during fiscal year 2025.

Omega Healthcare (OHI) has a return on equity of 0.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Omega Healthcare (OHI) generated $878.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Omega Healthcare (OHI) had $10.0B in total assets as of fiscal year 2025, including both current and long-term assets.

Omega Healthcare (OHI) had 296M shares outstanding as of fiscal year 2025.

Omega Healthcare (OHI) had a debt-to-equity ratio of 0.82 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Omega Healthcare (OHI) had a return on assets of 0.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Omega Healthcare (OHI) has a Piotroski F-Score of 6 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.

Omega Healthcare (OHI) reported $609K of net income while generating $878.6M in operating cash flow. The ratio between the two is outside the range this page publishes as a per-dollar figure, so both figures are given instead. 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.

Omega Healthcare (OHI) scores 26 out of 100 on our Financial Health Score, indicating weak standing within its REITs peer group. The score is a 0-100 composite of six dimensions (FFO Margin, FFO Growth, Leverage, Interest Cov., AFFO Margin, Dividend Cov.), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.

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