Omega Healthcare Investors, Inc. (OHI) 10-Year Financial Performance & Capital Metrics

OHI • • REIT / Real Estate

Real EstateHealthcare REITsSenior Housing & Skilled Nursing REITsSkilled Nursing Specialists

AboutOmega is a real estate investment trust that invests in the long-term healthcare industry, primarily in skilled nursing and assisted living facilities. Its portfolio of assets is operated by a diverse group of healthcare companies, predominantly in a triple-net lease structure. The assets span all regions within the US, as well as in the UK.Show more

Revenue $1.05B +10.7%
FFO $711M +26.5%
FFO/Share 2.63 +17.2%
FFO Payout 96.41% -15.9%
FFO per Share 2.63 +17.2%
NOI Margin 98.62% +0.2%
FFO Margin 67.62% +14.3%
ROE 9.57% +49.5%
ROA 4.27% +63.4%
Debt/Assets 48.89% -12.0%
Net Debt/EBITDA 4.48 -21.7%
Book Value/Share 17.49 +16.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 8/9
✓FFO growing 32.4% TTM
✓High NOI margin of 98.6%
✓Healthy dividend yield of 5.7%
✓Trading near 52-week high

✗Weaknesses

✗Dividend payout exceeds 100% of earnings

Price & Volume

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Growth Metrics

Revenue CAGR

10Y7.61%

5Y2.51%

3Y-0.36%

TTM13.72%

Profit (Net Income) CAGR

10Y6.26%

5Y3.56%

3Y-0.84%

TTM54.8%

EPS CAGR

10Y-1.15%

5Y0.13%

3Y-3.22%

TTM32.35%

ROCE

10Y Avg5.87%

5Y Avg5.59%

3Y Avg5.63%

Latest7.18%

Peer Comparison

Skilled Nursing Specialists

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
SBRASabra Health Care REIT, Inc.	4.75B	19.05	35.28	8.61%	23.5%	6.19%	6.54%	0.89
OHIOmega Healthcare Investors, Inc.	13.15B	44.48	28.70	10.7%	46.83%	10.27%	5.7%	1.02
STRWStrawberry Fields REIT LLC	175.02M	13.34	23.40	17.29%	4.83%	11.22%	20.19%	8.04

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	743.62M	900.83M	908.38M	881.68M	928.83M	892.38M	1.06B	878.24M	949.74M	1.05B
Revenue Growth %	0.47%	0.21%	0.01%	-0.03%	0.05%	-0.04%	0.19%	-0.17%	0.08%	0.11%
Property Operating Expenses	0	0	0	0	14.93M	12.32M	12.26M	15.5M	15.03M	14.56M
Net Operating Income (NOI)+	-	-	-	-	-	-	-	-	-	-
NOI Margin %	-	-	-	-	-	-	-	-	-	-
Operating Expenses+	332.35M	340.87M	593.21M	384.09M	362.15M	427.81M	484.38M	470.47M	445.74M	377.17M
G&A Expenses	38.57M	45.87M	47.68M	63.51M	57.87M	59.89M	64.63M	69.4M	81.5M	88M
EBITDA+	621.97M	827.01M	602.76M	778.87M	853.43M	782.18M	908.19M	724.68M	808.65M	964.31M
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
Depreciation & Amortization+	210.7M	267.06M	287.59M	281.28M	301.68M	329.92M	342.01M	332.41M	319.68M	304.65M
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income+	411.27M	559.95M	315.17M	497.59M	551.75M	452.25M	566.17M	392.28M	488.97M	659.66M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Interest Expense+	183.21M	175.56M	220.24M	201.42M	208.72M	223.39M	234.6M	233.24M	235.53M	221.72M
Interest Coverage	2.24x	3.19x	1.43x	2.47x	2.64x	2.02x	2.41x	1.68x	2.08x	2.98x
Non-Operating Income	-6.46M	59K	-10.99M	-345K	-814K	66.54M	-84.51M	-277.11M	-2.19M	17.2M
Pretax Income+	234.53M	384.33M	105.92M	296.51M	354.79M	168.47M	432.14M	443.4M	255.05M	428.66M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	1.21M	1.41M	3.25M	3.01M	2.84M	4.92M	3.84M	4.56M	6.25M	10.86M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	224.52M	366.42M	100.42M	281.58M	341.12M	159.33M	416.74M	426.93M	242.18M	406.33M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.01%	0.63%	-0.73%	1.8%	0.21%	-0.53%	1.62%	0.02%	-0.43%	0.68%
Funds From Operations (FFO)+	-	-	-	-	-	-	-	-	-	-
FFO Margin %	-	-	-	-	-	-	-	-	-	-
FFO Growth %	0.26%	0.46%	-0.39%	0.45%	0.14%	-0.24%	0.55%	0%	-0.26%	0.27%
FFO per Share+	-	-	-	-	-	-	-	-	-	-
FFO Payout Ratio %	-	-	-	-	-	-	-	-	-	-
EPS (Diluted)+	1.29	1.90	0.51	1.34	1.54	0.68	1.71	1.75	1.00	1.55
EPS Growth %	-0.26%	0.47%	-0.73%	1.63%	0.15%	-0.56%	1.51%	0.02%	-0.43%	0.55%
EPS (Basic)	1.30	1.91	0.51	1.41	1.60	0.70	1.76	1.81	1.04	1.57
Diluted Shares Outstanding	180.51M	201.63M	206.79M	209.71M	222.13M	235.1M	244.34M	244.29M	250.45M	270.45M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	7.99B	8.95B	8.77B	8.59B	9.8B	9.5B	9.64B	9.41B	9.12B	9.9B
Asset Growth %	1.04%	0.12%	-0.02%	-0.02%	0.14%	-0.03%	0.01%	-0.02%	-0.03%	0.09%
Real Estate & Other Assets+	5.76B	6.36B	6.32B	6.21B	7.3B	6.79B	6.99B	6.81B	6.05B	6.53B
PP&E (Net)	0	0	0	0	0	0	0	0	0	0
Investment Securities	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Current Assets+	1.5B	1.64B	1.5B	1.2B	1.23B	1.39B	1.81B	1.77B	2.23B	2.64B
Cash & Equivalents	5.42M	93.69M	85.94M	10.3M	24.12M	163.53M	20.53M	297.1M	442.81M	518.34M
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Assets	21.21M	66.46M	97.57M	2.36M	14.19M	85.47M	206.9M	13M	69.04M	86.59M
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Total Liabilities	3.89B	4.74B	4.89B	4.83B	5.46B	5.46B	5.53B	5.6B	5.36B	5.17B
Total Debt+	3.54B	4.37B	4.57B	4.54B	5.14B	5.17B	5.25B	5.29B	5.07B	4.84B
Net Debt	3.53B	4.27B	4.49B	4.53B	5.11B	5.01B	5.23B	4.99B	4.62B	4.32B
Long-Term Debt	3.31B	4.18B	4.28B	4.23B	5.01B	5.07B	5.25B	5.27B	5.05B	4.84B
Short-Term Borrowings	1000K	1000K	1000K	1000K	1000K	1000K	0	1000K	1000K	0
Capital Lease Obligations	110.2M	94.29M	80.62M	64.44M	78.17M	38.52M	28.23M	-280K	43.24M	30.33M
Total Current Liabilities+	563.71M	550.51M	585.14M	585.17M	437.04M	381.98M	276.72M	334.29M	308.19M	328.19M
Accounts Payable	0	0	0	0	0	0	0	0	0	0
Deferred Revenue	0	0	0	0	0	0	0	0	0	0
Other Liabilities	0	0	0	0	0	0	-8.2M	0	0	0
Total Equity+	4.1B	4.21B	3.89B	3.76B	4.34B	4.04B	4.11B	3.8B	3.76B	4.73B
Equity Growth %	1.93%	0.03%	-0.08%	-0.03%	0.15%	-0.07%	0.02%	-0.07%	-0.01%	0.26%
Shareholders Equity	3.74B	3.86B	3.56B	3.44B	4.14B	3.84B	3.91B	3.61B	3.57B	4.54B
Minority Interest	362.88M	353.24M	333.17M	320.04M	201.17M	194.73M	201.39M	193.91M	187.71M	194.17M
Common Stock	18.74M	19.61M	19.83M	20.23M	22.66M	23.12M	23.91M	23.43M	24.53M	27.91M
Additional Paid-in Capital	4.61B	4.86B	4.94B	5.07B	5.99B	6.15B	6.43B	6.31B	6.67B	7.92B
Retained Earnings	-881.52M	-968.45M	-1.37B	-1.61B	-1.84B	-2.32B	-2.54B	-2.75B	-3.15B	-3.43B
Preferred Stock	0	0	0	0	0	0	0	0	0	0
Return on Assets (ROA)	0.04%	0.04%	0.01%	0.03%	0.04%	0.02%	0.04%	0.04%	0.03%	0.04%
Return on Equity (ROE)	0.08%	0.09%	0.02%	0.07%	0.08%	0.04%	0.1%	0.11%	0.06%	0.1%
Debt / Assets	0.44%	0.49%	0.52%	0.53%	0.52%	0.54%	0.55%	0.56%	0.56%	0.49%
Debt / Equity	0.86x	1.04x	1.18x	1.21x	1.18x	1.28x	1.28x	1.39x	1.35x	1.02x
Net Debt / EBITDA	5.68x	5.17x	7.44x	5.82x	5.99x	6.40x	5.76x	6.89x	5.72x	4.48x
Book Value per Share	22.72	20.89	18.80	17.95	19.52	17.17	16.81	15.57	15.02	17.49

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	463.88M	625.79M	577.91M	499.37M	553.75M	708.26M	722.14M	625.73M	617.74M	749.43M
Operating CF Growth %	0.37%	0.35%	-0.08%	-0.14%	0.11%	0.28%	0.02%	-0.13%	-0.01%	0.21%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	233.31M	383.37M	104.91M	293.88M	351.95M	163.54M	428.3M	438.84M	248.8M	417.8M
Depreciation & Amortization	210.7M	267.06M	287.59M	281.28M	301.68M	329.92M	342.01M	332.41M	319.68M	304.65M
Stock-Based Compensation	11.13M	13.79M	15.21M	15.99M	15.36M	18.82M	21.41M	27.3M	35.07M	36.7M
Other Non-Cash Items	10.97M	-14.69M	1.69M	-1.64M	3.67M	-2.55M	35.12M	-127.24M	29.29M	-42.57M
Working Capital Changes	-21.44M	-42.1M	-89.43M	-127.88M	-124.06M	-30.84M	-94.03M	-45.58M	-15.1M	32.85M
Cash from Investing+	-397.41M	-1.11B	-285.13M	-173.22M	-378.95M	-89.06M	-524.17M	442.85M	-770K	-671.16M
Acquisitions (Net)	84.86M	-50.03M	2.34M	201.09M	-163.58M	-10.03M	-16.21M	-113K	-12.35M	-971K
Purchase of Investments	-65.4M	-271.56M	-139.05M	-385.71M	-100.31M	-167.94M	-164.79M	-619.22M	0	0
Sale of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Investing	-298.51M	-820.13M	-157.43M	-30.54M	-66.67M	14.15M	-359.21M	350.36M	202K	-678.62M
Cash from Financing+	-65.32M	576.3M	-303.81M	-410.7M	-153.96M	-485.55M	-341.12M	-789.45M	-473.31M	26.32M
Dividends Paid	-358.23M	-453.15M	-502.6M	-528.7M	-564.13M	-612.31M	-637.65M	-632.89M	-643.87M	-685.45M
Common Dividends	-358.23M	-453.15M	-502.6M	-528.7M	-564.13M	-612.31M	-637.65M	-632.89M	-643.87M	-685.45M
Debt Issuance (Net)	-1000K	1000K	1000K	1000K	-1000K	1000K	1000K	1000K	-1000K	-1000K
Share Repurchases	0	-733K	-48K	-134K	0	0	0	-142.27M	0	0
Other Financing	57.78M	183.61M	-17.25M	21.65M	-25.85M	-39.15M	-74.3M	-22.4M	62.07M	-36.41M
Net Change in Cash+	935K	88.26M	-10.47M	-85.14M	21.71M	134.18M	-143.15M	276.23M	144.09M	104M
Exchange Rate Effect	-223K	84K	568K	-590K	874K	527K	7K	-1000K	430K	-580K
Cash at Beginning	4.49M	5.42M	107.28M	96.81M	11.67M	33.38M	167.56M	24.41M	300.64M	444.73M
Cash at End	5.42M	93.69M	96.81M	11.67M	33.38M	167.56M	24.41M	300.64M	444.73M	548.74M
Free Cash Flow+	299.66M	556.81M	491.22M	359.93M	414.07M	633.14M	627.07M	578.51M	617.74M	749.43M
FCF Growth %	-0.11%	0.86%	-0.12%	-0.27%	0.15%	0.53%	-0.01%	-0.08%	0.07%	0.21%
FCF / Revenue %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
FFO per Share	2.41	3.14	1.88	2.68	2.89	2.08	3.11	3.11	2.24	2.63
FFO Payout Ratio	82.31%	71.53%	129.53%	93.93%	87.76%	125.15%	84.04%	83.35%	114.6%	96.41%
NOI Margin	100%	100%	100%	100%	98.39%	98.62%	98.85%	98.24%	98.42%	98.62%
Net Debt / EBITDA	5.68x	5.17x	7.44x	5.82x	5.99x	6.40x	5.76x	6.89x	5.72x	4.48x
Debt / Assets	44.31%	48.8%	52.11%	52.85%	52.43%	54.43%	54.51%	56.21%	55.58%	48.89%
Interest Coverage	2.24x	3.19x	1.43x	2.47x	2.64x	2.02x	2.41x	1.68x	2.08x	2.98x
Book Value / Share	22.72	20.89	18.8	17.95	19.52	17.17	16.81	15.57	15.02	17.49
Revenue Growth	47.31%	21.14%	0.84%	-2.94%	5.35%	-3.92%	19.1%	-17.37%	8.14%	10.7%

Revenue by Segment

	2011
CommuniCare Health Services	38.6M
CommuniCare Health Services Growth	-
Sun Health Care Group, Inc	33.6M
Sun Health Care Group, Inc Growth	-

Frequently Asked Questions

Valuation & Price

Omega Healthcare Investors, Inc. (OHI) has a price-to-earnings (P/E) ratio of 28.7x. This suggests investors expect higher future growth.

Growth & Financials

Omega Healthcare Investors, Inc. (OHI) reported $1.15B in revenue for fiscal year 2024. This represents a 294% increase from $292.2M in 2011.

Omega Healthcare Investors, Inc. (OHI) grew revenue by 10.7% over the past year. This is steady growth.

Yes, Omega Healthcare Investors, Inc. (OHI) is profitable, generating $538.7M in net income for fiscal year 2024 (38.6% net margin).

Dividend & Returns

Yes, Omega Healthcare Investors, Inc. (OHI) pays a dividend with a yield of 5.70%. This makes it attractive for income-focused investors.

Omega Healthcare Investors, Inc. (OHI) has a return on equity (ROE) of 9.6%. This is below average, suggesting room for improvement.

Industry Metrics

Omega Healthcare Investors, Inc. (OHI) generated Funds From Operations (FFO) of $859.8M in the trailing twelve months. FFO is the primary profitability metric for REITs.

Omega Healthcare Investors, Inc. (OHI) offers a 5.70% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.

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