9 years of historical data (2016–2024) · Real Estate · REIT - Healthcare Facilities
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
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 106.2x P/FCF, 141% 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 | $8.9B | $3.7B | — | — | — | — | — | — | — | — |
| Enterprise Value | $10.7B | $5.5B | — | — | — | — | — | — | — | — |
| P/E Ratio → | -180.14 | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 4.31 | 1.79 | — | — | — | — | — | — | — | — |
| P/B Ratio | 2.96 | 1.61 | — | — | — | — | — | — | — | — |
| P/FCF | 106.18 | 44.12 | — | — | — | — | — | — | — | — |
| P/OCF | 50.74 | 21.08 | — | — | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
American Healthcare REIT, Inc.'s enterprise value stands at 29.9x EBITDA, 95% above its 5-year average of 15.4x. The Real Estate sector median is 13.6x, placing the stock at a 119% 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 | 29.93 | 15.36 | — | — | — | — | — | — | — | — |
| EV / EBIT | 78.43 | 58.68 | — | — | — | — | — | — | — | — |
| EV / FCF | — | 65.44 | — | — | — | — | — | — | — | — |
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 22.0%. 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.
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% |
| 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% |
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 (22% below the sector average of 6.7x). 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 |
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 | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
American Healthcare REIT, Inc. returns 1.8% to shareholders annually — split between a 1.8% dividend yield and 0.0% buyback yield.
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 | 1.8% | 3.3% | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | 1248.1% | — | 451.0% | 497.0% | — |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | 0.9% | 2.3% | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | — | — | — | — | — | — | — | — |
| Total Shareholder Yield | 1.8% | 3.3% | — | — | — | — | — | — | — | — |
| Shares Outstanding | — | $131M | $66M | $66M | $66M | $66M | $45M | $50M | $50M | $49M |
Compare AHR with 5 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 | -180.1 | 29.9 | 106.2 | 20.1% | 6.6% | -2.0% | 2.4% | 5.2 |
| WELL | $144B | 149.0 | 54.4 | 50.1 | 20.9% | 4.9% | 2.5% | 0.9% | 1.1 |
| VTR | $40B | 159.6 | 24.1 | 31.5 | -5.9% | 14.2% | 2.1% | 2.5% | 6.1 |
| DOC | $12B | 176.8 | 13.8 | 9.8 | 22.5% | 19.3% | 0.8% | 2.3% | 6.5 |
| DHC | $2B | -5.7 | 6.9 | — | -16.0% | -2.6% | -15.8% | -0.9% | — |
| SILA | $1B | 42.9 | 9.7 | 11.9 | 87.9% | 32.9% | 2.4% | 3.0% | — |
| Real Estate Median | — | 23.4 | 13.6 | 13.7 | 60.4% | 22.0% | 3.3% | 2.6% | 6.7 |
Peers based on L4 peer group classification. Compare multiple stocks →
Includes 30+ ratios · 9 years · Updated daily
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Start ComparisonAmerican Healthcare REIT, Inc.'s current P/E ratio is -180.1x. This places it at the 50th percentile of its historical range.
American Healthcare REIT, Inc.'s current EV/EBITDA is 29.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 15.4x.
American Healthcare REIT, Inc.'s return on equity (ROE) is -2.0%. The historical average is -2.6%.
Based on historical data, American Healthcare REIT, Inc. is trading at a P/E of -180.1x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
American Healthcare REIT, Inc.'s current dividend yield is 1.77%.
American Healthcare REIT, Inc. has 20.1% gross margin and 6.6% operating margin.
American Healthcare REIT, Inc.'s Debt/EBITDA ratio is 5.2x, indicating high leverage. A ratio above 4x may signal elevated financial risk.