Comprehensive Stock Comparison
Compare Ventas, Inc. (VTR) vs American Healthcare REIT, Inc. (AHR) 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 | VTR | 18.5% revenue growth vs AHR's 11.4% |
| Value | AHR | Lower P/E (75.3x vs 114.3x) |
| Quality / Margins | VTR | 4.3% net margin vs AHR's 1.2% |
| Stability / Safety | VTR | Beta 0.23 vs AHR's 0.48 |
| Dividends | AHR | 1.8% yield; VTR pays no meaningful dividend |
| Momentum (1Y) | AHR | +78.7% vs VTR's +27.3% |
| Efficiency (ROA) | VTR | 0.9% ROA vs AHR's 0.6%, ROIC 2.5% 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
Ventas is a healthcare-focused real estate investment trust that owns and operates senior housing communities, medical office buildings, and life science research facilities. It generates revenue primarily through rental income from its diversified portfolio — roughly 60% from senior housing, 25% from medical office buildings, and 15% from life science and hospital properties. The company's competitive advantage lies in its scale, diversified healthcare property portfolio, and long-term relationships with leading healthcare operators across multiple care settings.
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.
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
VTR leads in 2 of 6 categories (Financial Metrics, Risk & Volatility). AHR leads in 2 (Valuation Metrics, Total Returns). 1 tied.
Financial Metrics (TTM)
VTR is the larger business by revenue, generating $5.6B annually — 2.5x AHR's $2.2B. Profitability is closely matched — net margins range from 4.3% (VTR) to 1.2% (AHR). On growth, VTR holds the edge at +20.4% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | VTRVentas, Inc. | AHRAmerican Healthca… |
|---|---|---|
| RevenueTrailing 12 months | $5.6B | $2.2B |
| EBITDAEarnings before interest/tax | $2.2B | $378M |
| Net IncomeAfter-tax profit | $238M | $27M |
| Free Cash FlowCash after capex | $1.2B | $269M |
| Gross MarginGross profit ÷ Revenue | +42.0% | +20.7% |
| Operating MarginEBIT ÷ Revenue | +14.7% | +7.7% |
| Net MarginNet income ÷ Revenue | +4.3% | +1.2% |
| FCF MarginFCF ÷ Revenue | +20.7% | +12.2% |
| Rev. Growth (YoY)Latest quarter vs prior year | +20.4% | +9.4% |
| EPS Growth (YoY)Latest quarter vs prior year | +2.1% | +11.7% |
Valuation Metrics
On an enterprise value basis, VTR's 24.1x EV/EBITDA is more attractive than AHR's 29.9x.
| Metric | VTRVentas, Inc. | AHRAmerican Healthca… |
|---|---|---|
| Market CapShares × price | $40.4B | $8.9B |
| Enterprise ValueMkt cap + debt − cash | $53.1B | $10.7B |
| Trailing P/EPrice ÷ TTM EPS | 159.56x | -180.14x |
| Forward P/EPrice ÷ next-FY EPS est. | 114.29x | 75.30x |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | 24.07x | 29.93x |
| Price / SalesMarket cap ÷ Revenue | 6.93x | 4.31x |
| Price / BookPrice ÷ Book value/share | 3.08x | 2.96x |
| Price / FCFMarket cap ÷ FCF | 31.53x | 106.18x |
Profitability & Efficiency
VTR delivers a 1.9% return on equity — every $100 of shareholder capital generates $2 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 VTR's 1.04x.
| Metric | VTRVentas, Inc. | AHRAmerican Healthca… |
|---|---|---|
| ROE (TTM)Return on equity | +1.9% | +1.0% |
| ROA (TTM)Return on assets | +0.9% | +0.6% |
| ROICReturn on invested capital | +2.5% | +2.4% |
| ROCEReturn on capital employed | +3.2% | +4.1% |
| Piotroski ScoreFundamental quality 0–9 | 7 | 7 |
| Debt / EquityFinancial leverage | 1.04x | 0.81x |
| Net DebtTotal debt minus cash | $12.6B | $1.8B |
| Cash & Equiv.Liquid assets | $786M | $77M |
| Total DebtShort + long-term debt | $13.4B | $1.9B |
| Interest CoverageEBIT ÷ Interest expense | 1.35x | 1.07x |
Total Returns (with DRIP)
A $10,000 investment in AHR five years ago would be worth $41,029 today (with dividends reinvested), compared to $18,063 for VTR. Over the past 12 months, AHR leads with a +78.7% total return vs VTR's +27.3%. The 3-year compound annual growth rate (CAGR) favors AHR at 60.1% vs VTR's 23.5% — a key indicator of consistent wealth creation.
| Metric | VTRVentas, Inc. | AHRAmerican Healthca… |
|---|---|---|
| YTD ReturnYear-to-date | +11.4% | +10.6% |
| 1-Year ReturnPast 12 months | +27.3% | +78.7% |
| 3-Year ReturnCumulative with dividends | +88.4% | +310.3% |
| 5-Year ReturnCumulative with dividends | +80.6% | +310.3% |
| 10-Year ReturnCumulative with dividends | +97.3% | +310.3% |
| CAGR (3Y)Annualised 3-year return | +23.5% | +60.1% |
Risk & Volatility
VTR is the less volatile stock with a 0.23 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 | VTRVentas, Inc. | AHRAmerican Healthca… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.23x | 0.48x |
| 52-Week HighHighest price in past year | $87.87 | $54.67 |
| 52-Week LowLowest price in past year | $60.15 | $26.48 |
| % of 52W HighCurrent price vs 52-week peak | +98.1% | +95.6% |
| RSI (14)Momentum oscillator 0–100 | 77.7 | 73.2 |
| Avg Volume (50D)Average daily shares traded | 2.3M | 2.3M |
Analyst Outlook
Wall Street rates VTR as "Buy" and AHR as "Buy". Consensus price targets imply 2.9% upside for VTR (target: $89) vs -3.5% for AHR (target: $50). AHR is the only dividend payer here at 1.77% yield — a key consideration for income-focused portfolios.
| Metric | VTRVentas, Inc. | AHRAmerican Healthca… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $88.70 | $50.43 |
| # AnalystsCovering analysts | 32 | 11 |
| Dividend YieldAnnual dividend ÷ price | — | +1.8% |
| Dividend StreakConsecutive years of raises | 0 | 0 |
| Dividend / ShareAnnual DPS | — | $0.93 |
| 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 | Mar 24 | Feb 26 | Change |
|---|---|---|---|
| Ventas, Inc. (VTR) | 100 | 175.93 | +75.9% |
| American Healthcare… (AHR) | 103.48 | 359.91 | +247.8% |
American Healthcare… (AHR) returned +310% over 5 years vs Ventas, Inc. (VTR)'s +81%. A $10,000 investment in AHR 5 years ago would be worth $41,029 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Ventas, Inc. (VTR) | $3.4B | $5.8B | +69.4% |
| American Healthcare… (AHR) | $980M | $2.1B | +111.2% |
Ventas, Inc.'s revenue grew from $3.4B (2016) to $5.8B (2025) — a 6.0% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Ventas, Inc. (VTR) | 18.9% | 4.3% | -77.1% |
| American Healthcare… (AHR) | -14.9% | -1.8% | +87.7% |
Ventas, Inc.'s net margin went from 19% (2016) to 4% (2025).
Chart 4P/E Ratio History — 7 Years
| Stock | 2017 | 2025 | Change |
|---|---|---|---|
| Ventas, Inc. (VTR) | 15.9 | 143.3 | +801.3% |
Ventas, Inc. has traded in a 16x–393x P/E range over 7 years; current trailing P/E is ~160x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Ventas, Inc. (VTR) | 1.86 | 0.54 | -71.0% |
| American Healthcare… (AHR) | -3.01 | -0.29 | +90.4% |
Ventas, Inc.'s EPS grew from $1.86 (2016) to $0.54 (2025) — a -13% CAGR.
Chart 6Free Cash Flow — 5 Years
Ventas, Inc. generated $1B FCF in 2025 (+116% vs 2021). American Healthcare REIT, Inc. generated $84M FCF in 2024 (+236% vs 2021).
VTR vs AHR: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is VTR or AHR a better buy right now?
Ventas, Inc. (VTR) offers the better valuation at 159.6x trailing P/E (114.3x forward), making it the more compelling value choice. Analysts rate Ventas, Inc. (VTR) a "Buy" — based on 32 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 — VTR or AHR?
On forward P/E, American Healthcare REIT, Inc. is actually cheaper at 75.3x — notably different from the trailing picture, reflecting expected earnings growth.
03Which is the better long-term investment — VTR or AHR?
Over the past 5 years, American Healthcare REIT, Inc. (AHR) delivered a total return of +310.3%, compared to +80.6% for Ventas, Inc. (VTR). 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 VTR's +97.3%. 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 — VTR or AHR?
By beta (market sensitivity over 5 years), Ventas, Inc. (VTR) is the lower-risk stock at 0.23β versus American Healthcare REIT, Inc.'s 0.48β — meaning AHR is approximately 108% more volatile than VTR relative to the S&P 500. On balance sheet safety, American Healthcare REIT, Inc. (AHR) carries a lower debt/equity ratio of 81% versus 104% for Ventas, Inc. — giving it more financial flexibility in a downturn.
05Which has better profit margins — VTR or AHR?
Ventas, Inc. (VTR) is the more profitable company, earning 4.3% net margin versus -1.8% for American Healthcare REIT, Inc. — meaning it keeps 4.3% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: VTR leads at 14.2% versus 6.6% for AHR. At the gross margin level — before operating expenses — AHR leads at 20.1%, 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 VTR or AHR more undervalued right now?
On forward earnings alone, American Healthcare REIT, Inc. (AHR) trades at 75.3x forward P/E versus 114.3x for Ventas, Inc. — 39.0x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for VTR: 2.9% to $88.70.
07Which pays a better dividend — VTR or AHR?
In this comparison, AHR (1.8% yield) pays a dividend. VTR does not pay a meaningful dividend and should not be held primarily for income.
08Is VTR or AHR better for a retirement portfolio?
For long-horizon retirement investors, American Healthcare REIT, Inc. (AHR) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.48), 1.8% yield, +310.3% 10Y return). Both have compounded well over 10 years (AHR: +310.3%, VTR: +97.3%), 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 VTR and AHR?
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. AHR pays a dividend while VTR does not, making them suitable for different income and tax situations. 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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