American Healthcare REIT, Inc. (AHR) Financial Ratios
9 years of historical data (2016–2024) · Real Estate · REIT - Healthcare Facilities
EV/EBITDA
28.87
↑+88% vs avg
5yr avg: 15.36
30Y Low15.4·High15.4
P/FCF
101.67
↑+130% vs avg
5yr avg: 44.12
30Y Low44.1·High44.1
P/B Ratio
2.84
↑+76% vs avg
5yr avg: 1.61
30Y Low1.6·High1.6
ROE
↓
-2.0%
↓+30% vs avg
5yr avg: -2.9%
30Y Low-10%·High1%
Debt/EBITDA
↓
5.22
↓-35% vs avg
5yr avg: 8.04
30Y Low2.8·High9.7
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
AHR Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
American Healthcare REIT, Inc. currently has a negative P/E ratio, indicating the company is operating at a loss on a trailing-twelve-month basis. On a free-cash-flow basis, the stock trades at 101.7x P/FCF, 130% above the 5-year average of 44.1x.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $8.6B | $3.7B | — | — | — | — | — | — | — | — |
| Enterprise Value | $10.3B | $5.5B | — | — | — | — | — | — | — | — |
| P/E Ratio → | -172.48 | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 4.13 | 1.79 | — | — | — | — | — | — | — | — |
| P/B Ratio | 2.84 | 1.61 | — | — | — | — | — | — | — | — |
| P/FCF | 101.67 | 44.12 | — | — | — | — | — | — | — | — |
| P/OCF | 48.58 | 21.08 | — | — | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
AHR EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
American Healthcare REIT, Inc.'s enterprise value stands at 28.9x EBITDA, 88% above its 5-year average of 15.4x. The Real Estate sector median is 16.7x, placing the stock at a 72% premium on an enterprise-value basis.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.66 | — | — | — | — | — | — | — | — |
| EV / EBITDA | 28.87 | 15.36 | — | — | — | — | — | — | — | — |
| EV / EBIT | 75.66 | 58.68 | — | — | — | — | — | — | — | — |
| EV / FCF | — | 65.44 | — | — | — | — | — | — | — | — |
AHR Profitability
Margins and return-on-capital ratios measuring operating efficiency
American Healthcare REIT, Inc. earns an operating margin of 6.6%, below the Real Estate sector average of 25.0%. Operating margins have expanded from 5.6% to 6.6% over the past 3 years, signaling improving operational efficiency. A negative ROE of -2.0% indicates the company is currently destroying shareholder equity. ROIC of 2.4% represents below-average returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 20.1% | 20.1% | 19.2% | 20.8% | 14.4% | 13.4% | 18.0% | 18.3% | 20.2% | 18.4% |
| Operating Margin | 6.6% | 6.6% | 4.1% | 5.6% | 11.0% | 11.1% | 15.5% | 15.8% | 17.1% | 15.5% |
| Net Profit Margin | -1.8% | -1.8% | -3.8% | -5.0% | -3.8% | 0.2% | -0.4% | 1.2% | 1.1% | -14.9% |
Return on Capital
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -2.0% | -2.0% | -4.6% | -4.7% | -3.3% | 0.2% | -0.4% | 1.0% | 0.8% | -10.1% |
| ROA | -0.8% | -0.8% | -1.5% | -1.7% | -1.2% | 0.1% | -0.2% | 0.5% | 0.4% | -5.2% |
| ROIC | 2.4% | 2.4% | 1.3% | 1.6% | 2.9% | 3.4% | 5.1% | 5.1% | 5.2% | — |
| ROCE | 4.1% | 4.1% | 2.1% | 2.4% | 4.3% | 4.4% | 6.6% | 6.6% | 6.7% | 5.6% |
AHR Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
American Healthcare REIT, Inc. carries a Debt/EBITDA ratio of 5.2x, which is highly leveraged (33% below the sector average of 7.8x). Net debt stands at $1.8B ($1.9B total debt minus $77M cash). Interest coverage of just 1.1x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.81 | 0.81 | 2.07 | 1.72 | 1.37 | 1.75 | 1.67 | 1.16 | 0.91 | 0.82 |
| Debt / EBITDA | 5.22 | 5.22 | 9.61 | 9.73 | 8.55 | 7.11 | 5.60 | 5.27 | 4.28 | 2.81 |
| Net Debt / Equity | — | 0.78 | 2.04 | 1.68 | 1.32 | 1.64 | 1.63 | 1.13 | 0.88 | 0.80 |
| Net Debt / EBITDA | 5.01 | 5.01 | 9.48 | 9.51 | 8.27 | 6.68 | 5.44 | 5.15 | 4.16 | 2.74 |
| Debt / FCF | — | 21.32 | — | 36.30 | — | 19.40 | 72.87 | 35.51 | 14.43 | 16.98 |
| Interest Coverage | 1.07 | 1.07 | 0.47 | 0.85 | 1.72 | 1.85 | 2.41 | 2.70 | 2.95 | 3.32 |
AHR Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.37x is below 1.0, meaning current liabilities exceed current assets. The current ratio has declined from 0.61x to 0.37x over the past 3 years.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.37 | 0.37 | 0.20 | 0.61 | 0.30 | 1.83 | 1.91 | 2.09 | 2.18 | 2.51 |
| Quick Ratio | 0.35 | 0.35 | 0.19 | 0.57 | 0.28 | 1.71 | 1.77 | 1.95 | 2.02 | 2.35 |
| Cash Ratio | 0.08 | 0.08 | 0.03 | 0.12 | 0.07 | 0.58 | 0.31 | 0.24 | 0.27 | 0.27 |
| Asset Turnover | — | 0.46 | 0.41 | 0.34 | 0.28 | 0.37 | 0.38 | 0.39 | 0.37 | 0.35 |
| Inventory Turnover | 84.92 | 84.92 | 77.15 | 64.81 | 57.16 | 41.59 | 41.96 | 43.68 | 43.38 | 46.34 |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — |
AHR Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
American Healthcare REIT, Inc. returns 1.9% to shareholders annually — split between a 1.9% dividend yield and 0.0% buyback yield.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.9% | 3.3% | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | 1248.1% | — | 451.0% | 497.0% | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | 1.0% | 2.3% | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | — | — | — | — | — | — | — | — |
| Total Shareholder Yield | 1.9% | 3.3% | — | — | — | — | — | — | — | — |
| Shares Outstanding | — | $131M | $66M | $66M | $66M | $66M | $45M | $50M | $50M | $49M |
Peer Comparison
Compare AHR with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 AHRYou | $9B | -172.5 | 28.9 | 101.7 | 20.1% | 6.6% | -2.0% | 2.4% | 5.2 |
 WELL | $152B | 155.7 | 67.4 | 53.3 | 39.2% | 3.3% | 2.5% | 0.5% | 8.6 |
 VTR | $41B | 160.4 | 24.3 | 31.3 | -5.9% | 14.2% | 2.1% | 2.5% | 6.0 |
 HR | $7B | -28.5 | 17.0 | 55.6 | -33.6% | 8.0% | -4.9% | 0.7% | 6.3 |
 DOC | $14B | 195.0 | 14.6 | 11.8 | 22.5% | 19.3% | 0.8% | 2.3% | 6.5 |
 OHI | $14B | 23.7 | 16.7 | 15.6 | 44.5% | 62.6% | 11.6% | 6.0% | 4.0 |
 SBRA | $5B | 32.0 | 17.0 | 14.8 | 65.0% | 34.1% | 5.6% | 3.8% | 5.7 |
 LTC | $2B | 15.3 | 16.6 | 14.0 | 75.1% | 48.2% | 10.7% | 5.1% | 5.1 |
 CTRE | $9B | 25.1 | 15.3 | 22.3 | 98.9% | 98.7% | 9.2% | 10.1% | — |
 NHI | $4B | 24.5 | 17.0 | 16.3 | 36.7% | 51.5% | 9.7% | 5.6% | 4.2 |
 GMRE | $94M | 115.3 | 8.3 | — | 78.9% | 23.6% | 1.1% | 2.0% | 7.4 |
| Real Estate Median | — | 24.3 | 16.7 | 15.7 | 50.7% | 25.0% | 3.5% | 2.6% | 7.8 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 9 years · Updated daily
See AHR's True Return
Price is only half the story. See total return with reinvested dividends.
Launch CalculatorIs AHR Undervalued?
DCF intrinsic value, peer multiples, and analyst estimates — see what the stock is really worth.
View ValuationCompare AHR vs WELL
Side-by-side business, growth, and profitability comparison vs Welltower Inc..
Start ComparisonAHR — Frequently Asked Questions
Quick answers to the most common questions about buying AHR stock.
What is American Healthcare REIT, Inc.'s P/E ratio?
American Healthcare REIT, Inc.'s current P/E ratio is -172.5x. This places it at the 50th percentile of its historical range.
What is American Healthcare REIT, Inc.'s EV/EBITDA?
American Healthcare REIT, Inc.'s current EV/EBITDA is 28.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 15.4x.
What is American Healthcare REIT, Inc.'s ROE?
American Healthcare REIT, Inc.'s return on equity (ROE) is -2.0%. The historical average is -2.6%.
Is AHR stock overvalued?
Based on historical data, American Healthcare REIT, Inc. is trading at a P/E of -172.5x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is American Healthcare REIT, Inc.'s dividend yield?
American Healthcare REIT, Inc.'s current dividend yield is 1.85%.
What are American Healthcare REIT, Inc.'s profit margins?
American Healthcare REIT, Inc. has 20.1% gross margin and 6.6% operating margin.
How much debt does American Healthcare REIT, Inc. have?
American Healthcare REIT, Inc.'s Debt/EBITDA ratio is 5.2x, indicating high leverage. A ratio above 4x may signal elevated financial risk.