AHR · American Healthcare REIT, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $650.77M | - | $532.06M | $542.50M | $540.60M | - | $476.83M | $458.01M | $499.53M | - |
| Cost of Revenue | $512.17M | - | $454.53M | $426.29M | $432.42M | - | $417.13M | $402.56M | $403.63M | - |
| Gross Profit | $138.60M | - | $77.53M | $116.22M | $108.18M | - | $59.71M | $55.45M | $95.90M | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $17.61M | - | $14.11M | $14.94M | $13.15M | - | $11.92M | $11.75M | $11.83M | - |
| Total Operating Expenses | $611.91M | - | $530.46M | $496.08M | $502.17M | - | $489.98M | $472.91M | $474.73M | - |
| D&A | $67.06M | - | $49.18M | $41.94M | $41.11M | - | $44.25M | $45.26M | $42.77M | - |
| Operating Income | $125.50M | - | $105.81M | $103.23M | $94.54M | - | $93.54M | $88.69M | $82.18M | - |
| Interest Expense | $18.80M | - | $20.39M | $22.63M | $22.95M | - | $30.39M | $30.60M | $36.44M | - |
| Income Tax | ($525.0K) | - | ($21.09M) | $732.0K | $604.0K | - | $263.0K | $686.0K | $278.0K | - |
| Net Income | $23.71M | - | $55.93M | $9.91M | ($6.80M) | - | ($4.13M) | $1.98M | ($3.89M) | - |
| EPS - Basic | $0.13 | - | $0.33 | $0.06 | ($0.04) | - | ($0.03) | $0.01 | ($0.04) | - |
| EPS - Diluted | $0.13 | - | $0.33 | $0.06 | ($0.04) | - | ($0.03) | $0.01 | ($0.04) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $119.38M | $114.84M | $147.36M | $133.49M | $86.06M | $76.70M | $67.85M | $52.09M | $77.03M | $43.45M |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - |
| Inventory | $20.44M | $18.84M | $20.24M | $19.43M | $19.36M | $19.48M | $20.23M | $20.04M | $20.74M | $19.47M |
| Accounts Payable | - | - | - | - | - | - | - | - | - | - |
| Current Assets | - | - | - | - | - | - | - | - | - | - |
| Total Assets | $5.60B | $5.43B | $4.77B | $4.51B | $4.46B | $4.49B | $4.68B | $4.64B | $4.70B | $4.58B |
| Current Liabilities | - | - | - | - | - | - | - | - | - | - |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | $2.08B | $2.07B | $2.05B | $2.04B | $2.16B | $2.18B | $2.42B | $2.54B | $2.56B | $3.12B |
| Stockholders' Equity | $3.48B | $3.32B | $2.68B | $2.42B | $2.26B | $2.26B | $2.21B | $1.93B | $1.96B | $1.27B |
| Retained Earnings | ($1.58B) | ($1.56B) | ($1.52B) | ($1.54B) | ($1.50B) | ($1.46B) | ($1.39B) | ($1.34B) | ($1.31B) | ($1.28B) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $81.07M | - | - | - | $60.62M | - | - | - | ($5.95M) | - |
| Investing Cash Flow | ($203.09M) | - | - | - | ($32.78M) | - | - | - | ($5.22M) | - |
| Financing Cash Flow | $127.20M | - | - | - | ($23.78M) | - | - | - | $44.96M | - |
| CapEx | - | - | - | - | - | - | - | - | - | - |
| Free Cash Flow | - | - | - | - | - | - | - | - | - | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 21.3% | - | 14.6% | 21.4% | 20.0% | - | 12.5% | 12.1% | 19.2% | - |
| Operating margin | 19.3% | - | 19.9% | 19.0% | 17.5% | - | 19.6% | 19.4% | 16.5% | - |
| EBITDA margin | 29.6% | - | 29.1% | 26.8% | 25.1% | - | 28.9% | 29.2% | 25.0% | - |
| Net margin | 3.6% | - | 10.5% | 1.8% | -1.3% | - | -0.9% | 0.4% | -0.8% | - |
| Free cash flow margin | - | - | - | - | - | - | - | - | - | - |
| FCF / Net income | - | - | - | - | - | - | - | - | - | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 2.7% | - | 2.7% | 2.8% | 2.4% | - | 2.5% | 2.6% | 2.4% | - |
| Effective tax rate | -2.3% | - | -60.5% | 6.9% | - | - | - | 25.7% | - | - |
| Return on assets | 0.4% | - | 1.2% | 0.2% | -0.2% | - | -0.1% | 0.0% | -0.1% | - |
| Return on equity | 0.7% | - | 2.1% | 0.4% | -0.3% | - | -0.2% | 0.1% | -0.2% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | - | - | - | - | - | - | - | - | - | - |
| Quick ratio | - | - | - | - | - | - | - | - | - | - |
| Cash ratio | - | - | - | - | - | - | - | - | - | - |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | 6.7x | - | 5.2x | 4.6x | 4.1x | - | 3.1x | 2.9x | 2.3x | - |
| Equity multiplier | 1.61 | 1.63 | 1.78 | 1.86 | 1.97 | 1.98 | 2.12 | 2.40 | 2.40 | 3.60 |
| Liabilities / Assets | 0.37 | 0.38 | 0.43 | 0.45 | 0.48 | 0.49 | 0.52 | 0.55 | 0.54 | 0.68 |
| Efficiency | ||||||||||
| Asset turnover | 0.12 | - | 0.11 | 0.12 | 0.12 | - | 0.10 | 0.10 | 0.11 | - |
| Inventory turnover | 25.06 | - | 22.45 | 21.94 | 22.33 | - | 20.62 | 20.09 | 19.46 | - |
| Days sales outstanding | - | - | - | - | - | - | - | - | - | - |
| Days inventory outstanding | 15d | - | 16d | 17d | 16d | - | 18d | 18d | 19d | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | 362.8x | - | 127.3x | 612.3x | - | - | - | 1461.0x | - | - |
| P / B | 2.5x | - | 2.7x | 2.4x | 2.1x | - | 1.6x | 1.0x | 0.8x | - |
| P / S | 13.6x | - | 13.4x | 10.9x | 8.8x | - | 7.3x | 4.2x | 3.1x | - |
| EV / EBITDA | 45.4x | - | 45.1x | 39.9x | 34.4x | - | 24.8x | 13.9x | 11.7x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 20.4% | - | 11.6% | 18.4% | 8.2% | - | 14.6% | 11.5% | 22.2% | - |
| Revenue CAGR (3y) | 16.8% | - | 13.0% | 18.5% | 19.2% | - | 134.0% | 130.9% | 136.3% | - |
| Revenue CAGR (5y) | 76.6% | - | 94.8% | 69.6% | 70.5% | - | 72.6% | 72.1% | 80.8% | - |
| Gross profit growth (YoY) | 28.1% | - | 29.8% | 109.6% | 12.8% | - | 43.5% | 45.6% | 149.2% | - |
| Operating income growth (YoY) | 32.8% | - | 13.1% | 16.4% | 15.0% | - | 24.6% | 10.4% | 22.9% | - |
| Net income growth (YoY) | - | - | - | 400.7% | -74.8% | - | 31.1% | - | 85.0% | - |
| EPS growth (YoY) | - | - | - | 500.0% | 0.0% | - | 66.7% | - | 89.7% | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 53.9% | 46.9% | 21.3% | 25.2% | 15.4% | 78.0% | 68.0% | 44.7% | 43.8% | -9.3% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$2.26B totalIntegrated Senior Health Campuses$1.76B · 78.0%
SHOP$330.57M · 14.6%
Outpatient Medical$126.08M · 5.6%
Triple Net Leased Properties$39.54M · 1.7%
Product / service
$1.46B totalResident Feesand Services$1.46B · 100.0%
Geographic
$2.26B totalUS$2.25B · 99.7%
Non Us$6.51M · 0.3%
Peer comparison
Same SIC group: Real Estate Investment Trusts
Comparing American Healthcare REIT against the 5 most active filers in the same SIC group.
Dividends
$1.00/share trailing 12 months · 0.0% YoY
| Ex-date | Per share |
|---|---|
| Mar 31, 2026 | $0.2500 |
| Dec 31, 2025 | $0.2500 |
| Sep 30, 2025 | $0.2500 |
| Jun 30, 2025 | $0.2500 |
| Mar 31, 2025 | $0.2500 |
| Dec 31, 2024 | $0.2500 |
| Sep 20, 2024 | $0.2500 |
| Jun 27, 2024 | $0.2500 |
| Mar 27, 2024 | $0.2500 |