Comprehensive Stock Comparison
Compare American Healthcare REIT, Inc. (AHR) vs Omega Healthcare Investors, Inc. (OHI) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | AHR | 11.4% revenue growth vs OHI's 10.7% |
| Value | OHI | Lower P/E (24.3x vs 75.3x) |
| Quality / Margins | OHI | 50.2% net margin vs AHR's 1.2% |
| Stability / Safety | OHI | Beta 0.10 vs AHR's 0.48 |
| Dividends | OHI | 5.3% yield, vs AHR's 1.8% |
| Momentum (1Y) | AHR | +78.7% vs OHI's +38.3% |
| Efficiency (ROA) | OHI | 6.2% ROA vs AHR's 0.6%, ROIC 5.7% vs 2.4% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
American Healthcare REIT is a real estate investment trust that owns and operates a diversified portfolio of healthcare properties including medical office buildings, senior housing facilities, and hospitals. It generates revenue primarily through rental income from its healthcare real estate portfolio — with senior housing and medical office buildings being its largest segments — supplemented by management fees from operating certain facilities. The company's competitive advantage lies in its fully integrated management platform with deep industry expertise and long-term relationships in the healthcare real estate sector.
Omega Healthcare Investors is a real estate investment trust that owns and leases skilled nursing and assisted living facilities to healthcare operators. It generates revenue primarily through triple-net leases — where tenants pay rent plus property expenses — with skilled nursing facilities representing the majority of its portfolio. The company's moat lies in its specialized healthcare real estate expertise and diversified portfolio of essential healthcare properties across the US and UK.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
OHI leads in 5 of 6 categories (Financial Metrics, Valuation Metrics). AHR leads in 1 (Total Returns).
Financial Metrics (TTM)
AHR is the larger business by revenue, generating $2.2B annually — 1.8x OHI's $1.2B. OHI is the more profitable business, keeping 50.2% of every revenue dollar as net income compared to AHR's 1.2%. On growth, OHI holds the edge at +14.3% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | AHRAmerican Healthca… | OHIOmega Healthcare … |
|---|---|---|
| RevenueTrailing 12 months | $2.2B | $1.2B |
| EBITDAEarnings before interest/tax | $378M | $1.0B |
| Net IncomeAfter-tax profit | $27M | $597M |
| Free Cash FlowCash after capex | $269M | $629M |
| Gross MarginGross profit ÷ Revenue | +20.7% | +72.3% |
| Operating MarginEBIT ÷ Revenue | +7.7% | +60.2% |
| Net MarginNet income ÷ Revenue | +1.2% | +50.2% |
| FCF MarginFCF ÷ Revenue | +12.2% | +52.9% |
| Rev. Growth (YoY)Latest quarter vs prior year | +9.4% | +14.3% |
| EPS Growth (YoY)Latest quarter vs prior year | +11.7% | +34.1% |
Valuation Metrics
On an enterprise value basis, OHI's 18.5x EV/EBITDA is more attractive than AHR's 29.9x.
| Metric | AHRAmerican Healthca… | OHIOmega Healthcare … |
|---|---|---|
| Market CapShares × price | $8.9B | $13.5B |
| Enterprise ValueMkt cap + debt − cash | $10.7B | $17.8B |
| Trailing P/EPrice ÷ TTM EPS | -180.14x | 31.14x |
| Forward P/EPrice ÷ next-FY EPS est. | 75.30x | 24.31x |
| PEG RatioP/E ÷ EPS growth rate | — | 187.73x |
| EV / EBITDAEnterprise value multiple | 29.93x | 18.45x |
| Price / SalesMarket cap ÷ Revenue | 4.31x | 12.81x |
| Price / BookPrice ÷ Book value/share | 2.96x | 2.76x |
| Price / FCFMarket cap ÷ FCF | 106.18x | 17.98x |
Profitability & Efficiency
OHI delivers a 11.0% return on equity — every $100 of shareholder capital generates $11 in annual profit, vs $1 for AHR. AHR carries lower financial leverage with a 0.81x debt-to-equity ratio, signaling a more conservative balance sheet compared to OHI's 1.02x. On the Piotroski fundamental quality scale (0–9), OHI scores 8/9 vs AHR's 7/9, reflecting strong financial health.
| Metric | AHRAmerican Healthca… | OHIOmega Healthcare … |
|---|---|---|
| ROE (TTM)Return on equity | +1.0% | +11.0% |
| ROA (TTM)Return on assets | +0.6% | +6.2% |
| ROICReturn on invested capital | +2.4% | +5.7% |
| ROCEReturn on capital employed | +4.1% | +7.2% |
| Piotroski ScoreFundamental quality 0–9 | 7 | 8 |
| Debt / EquityFinancial leverage | 0.81x | 1.02x |
| Net DebtTotal debt minus cash | $1.8B | $4.3B |
| Cash & Equiv.Liquid assets | $77M | $518M |
| Total DebtShort + long-term debt | $1.9B | $4.8B |
| Interest CoverageEBIT ÷ Interest expense | 1.07x | 2.98x |
Total Returns (with DRIP)
A $10,000 investment in AHR five years ago would be worth $41,029 today (with dividends reinvested), compared to $16,302 for OHI. Over the past 12 months, AHR leads with a +78.7% total return vs OHI's +38.3%. The 3-year compound annual growth rate (CAGR) favors AHR at 60.1% vs OHI's 28.1% — a key indicator of consistent wealth creation.
| Metric | AHRAmerican Healthca… | OHIOmega Healthcare … |
|---|---|---|
| YTD ReturnYear-to-date | +10.6% | +9.9% |
| 1-Year ReturnPast 12 months | +78.7% | +38.3% |
| 3-Year ReturnCumulative with dividends | +310.3% | +110.2% |
| 5-Year ReturnCumulative with dividends | +310.3% | +63.0% |
| 10-Year ReturnCumulative with dividends | +310.3% | +132.8% |
| CAGR (3Y)Annualised 3-year return | +60.1% | +28.1% |
Risk & Volatility
OHI is the less volatile stock with a 0.10 beta — it tends to amplify market swings less than AHR's 0.48 beta. A beta below 1.0 means the stock typically moves less than the S&P 500.
| Metric | AHRAmerican Healthca… | OHIOmega Healthcare … |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.48x | 0.10x |
| 52-Week HighHighest price in past year | $54.67 | $49.14 |
| 52-Week LowLowest price in past year | $26.48 | $35.04 |
| % of 52W HighCurrent price vs 52-week peak | +95.6% | +98.2% |
| RSI (14)Momentum oscillator 0–100 | 73.2 | 68.6 |
| Avg Volume (50D)Average daily shares traded | 2.3M | 1.6M |
Analyst Outlook
Wall Street rates AHR as "Buy" and OHI as "Hold". Consensus price targets imply 1.8% upside for OHI (target: $49) vs -3.5% for AHR (target: $50). For income investors, OHI offers the higher dividend yield at 5.25% vs AHR's 1.77%.
| Metric | AHRAmerican Healthca… | OHIOmega Healthcare … |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Hold |
| Price TargetConsensus 12-month target | $50.43 | $49.14 |
| # AnalystsCovering analysts | 11 | 28 |
| Dividend YieldAnnual dividend ÷ price | +1.8% | +5.3% |
| Dividend StreakConsecutive years of raises | 0 | 0 |
| Dividend / ShareAnnual DPS | $0.93 | $2.53 |
| Buyback YieldShare repurchases ÷ mkt cap | +0.0% | 0.0% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Feb 24 | Feb 26 | Change |
|---|---|---|---|
| American Healthcare… (AHR) | 100 | 359.91 | +259.9% |
| Omega Healthcare In… (OHI) | 100 | 138.77 | +38.8% |
American Healthcare… (AHR) returned +310% over 5 years vs Omega Healthcare In… (OHI)'s +63%. A $10,000 investment in AHR 5 years ago would be worth $41,029 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| American Healthcare… (AHR) | $980M | $2.1B | +111.2% |
| Omega Healthcare In… (OHI) | $744M | $1.1B | +41.4% |
Omega Healthcare Investors, Inc.'s revenue grew from $744M (2015) to $1.1B (2024) — a 3.9% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| American Healthcare… (AHR) | -14.9% | -1.8% | +87.7% |
| Omega Healthcare In… (OHI) | 30.2% | 38.6% | +28.0% |
Omega Healthcare Investors, Inc.'s net margin went from 30% (2015) to 39% (2024).
Chart 4P/E Ratio History — 8 Years
| Stock | 2017 | 2024 | Change |
|---|---|---|---|
| Omega Healthcare In… (OHI) | 54 | 24.4 | -54.8% |
Omega Healthcare Investors, Inc. has traded in a 16x–54x P/E range over 8 years; current trailing P/E is ~31x.
Chart 5EPS Growth — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| American Healthcare… (AHR) | -3.01 | -0.29 | +90.4% |
| Omega Healthcare In… (OHI) | 1.29 | 1.55 | +20.2% |
Omega Healthcare Investors, Inc.'s EPS grew from $1.29 (2015) to $1.55 (2024) — a 2% CAGR.
Chart 6Free Cash Flow — 5 Years
American Healthcare REIT, Inc. generated $84M FCF in 2024 (+236% vs 2021). Omega Healthcare Investors, Inc. generated $749M FCF in 2024 (+20% vs 2021).
AHR vs OHI: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is AHR or OHI a better buy right now?
Omega Healthcare Investors, Inc. (OHI) offers the better valuation at 31.1x trailing P/E (24.3x forward), making it the more compelling value choice. Analysts rate American Healthcare REIT, Inc. (AHR) a "Buy" — based on 11 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — AHR or OHI?
On forward P/E, Omega Healthcare Investors, Inc. is actually cheaper at 24.3x.
03Which is the better long-term investment — AHR or OHI?
Over the past 5 years, American Healthcare REIT, Inc. (AHR) delivered a total return of +310.3%, compared to +63.0% for Omega Healthcare Investors, Inc. (OHI). A $10,000 investment in AHR five years ago would be worth approximately $41K today (assuming dividends reinvested). Over 10 years, the gap is even starker: AHR returned +310.3% versus OHI's +132.8%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — AHR or OHI?
By beta (market sensitivity over 5 years), Omega Healthcare Investors, Inc. (OHI) is the lower-risk stock at 0.10β versus American Healthcare REIT, Inc.'s 0.48β — meaning AHR is approximately 388% more volatile than OHI relative to the S&P 500. On balance sheet safety, American Healthcare REIT, Inc. (AHR) carries a lower debt/equity ratio of 81% versus 102% for Omega Healthcare Investors, Inc. — giving it more financial flexibility in a downturn.
05Which has better profit margins — AHR or OHI?
Omega Healthcare Investors, Inc. (OHI) is the more profitable company, earning 38.6% net margin versus -1.8% for American Healthcare REIT, Inc. — meaning it keeps 38.6% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: OHI leads at 62.7% versus 6.6% for AHR. At the gross margin level — before operating expenses — OHI leads at 98.6%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is AHR or OHI more undervalued right now?
On forward earnings alone, Omega Healthcare Investors, Inc. (OHI) trades at 24.3x forward P/E versus 75.3x for American Healthcare REIT, Inc. — 51.0x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for OHI: 1.8% to $49.14.
07Which pays a better dividend — AHR or OHI?
All stocks in this comparison pay dividends. Omega Healthcare Investors, Inc. (OHI) offers the highest yield at 5.3%, versus 1.8% for American Healthcare REIT, Inc. (AHR).
08Is AHR or OHI better for a retirement portfolio?
For long-horizon retirement investors, Omega Healthcare Investors, Inc. (OHI) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.10), 5.3% yield, +132.8% 10Y return). Both have compounded well over 10 years (OHI: +132.8%, AHR: +310.3%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between AHR and OHI?
Both stocks operate in the Real Estate sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. In terms of investment character: AHR is a small-cap quality compounder stock; OHI is a mid-cap income-oriented stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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