American Healthcare REIT, Inc. (AHR) Revenue History
Annual and quarterly revenue from 2016 to present
AHR Revenue Over Time (2016–2025)
AHR Revenue Growth History
8 of 9 years with positive growth- FY2016 revenue growth
- N/A
- FY2017 revenue growth
- +7.0%
- FY2018 revenue growth
- +7.8%
- FY2019 revenue growth
- +7.9%
- FY2020 revenue growth
- -3.0%
- FY2021 revenue growth
- +6.7%
- FY2022 revenue growth
- +28.0%
- FY2023 revenue growth
- +14.9%
- FY2024 revenue growth
- +11.4%
- FY2025 revenue growth
- +9.1%
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2026 | $650.8M | +20.4% |
| Q4 2025 | $604.1M | +11.3% |
| Q3 2025 | $572.9M | +9.4% |
| Q2 2025 | $542.5M | +7.5% |
| Q1 2025 | $540.6M | +8.2% |
| Q4 2024 | $542.7M | +12.5% |
| Q3 2024 | $523.8M | +13.1% |
| Q2 2024 | $504.6M | +9.4% |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2025)
AHR's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
AHR Revenue Analysis (2016–2025)
Current Revenue & Growth
As of June 21, 2026, American Healthcare REIT, Inc. (AHR) generated trailing twelve-month (TTM) revenue of $2.37 billion, reflecting exceptional growth of +20.4% year-over-year. The most recent quarter (Q1 2026) recorded $650.8 million in revenue, up 7.7% sequentially.
Historical Growth Trajectory
AHR's 5-year compound annual growth rate (CAGR) stands at +13.8%, indicating consistent double-digit revenue growth. The 3-year CAGR of +11.8% is below the 5-year average, signalling a growth deceleration in recent years. American Healthcare REIT, Inc.'s highest annual revenue of $2.26 billion was recorded in 2025, an all-time high.
Revenue by Segment
AHR's revenue is primarily driven by Resident Fees and Services (100%). With over half of revenue concentrated in Resident Fees and Services, the company has a focused business model while developing other growth vectors.
Peer Comparison
Compared to Real Estate sector peers — including WELL (+38.3% YoY), VTR (+20.7% YoY), and HR (-7.4% YoY) — AHR has outperformed the peer group in revenue growth. Compare AHR vs WELL →
AHR Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| AHRCurrent | $2.4B | +20.4% | +13.8% | 7.4% | |
 WELL | $10.7B | +38.3% | +18.4% | 3.3% | |
 VTR | $5.8B | +20.7% | +9.0% | 14.2% | |
 HR | $1.2B | -7.4% | +9.9% | 8.0% | |
 DOC | $2.8B | +2.7% | +11.4% | 19.3% | |
 OHI | $1.2B | +14.2% | +6.1% | 62.6% |
AHR Historical Revenue Data (2016–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $2.26B | +9.1% | $39.7M | 1.8% | $167.8M | 7.4% |
| 2024 | $2.07B | +11.4% | $416.8M | 20.1% | $136.8M | 6.6% |
| 2023 | $1.86B | +14.9% | $356.8M | 19.2% | $76.7M | 4.1% |
| 2022 | $1.62B | +28.0% | $336.0M | 20.8% | $90.6M | 5.6% |
| 2021 | $1.26B | +6.7% | $182.0M | 14.4% | $138.8M | 11.0% |
| 2020 | $1.18B | -3.0% | $158.6M | 13.4% | $131.6M | 11.1% |
| 2019 | $1.22B | +7.9% | $219.3M | 18.0% | $189.6M | 15.5% |
| 2018 | $1.13B | +7.8% | $207.6M | 18.3% | $179.1M | 15.8% |
| 2017 | $1.05B | +7.0% | $211.6M | 20.2% | $179.4M | 17.1% |
| 2016 | $980.3M | - | $180.2M | 18.4% | $151.5M | 15.5% |
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
10+ years return with dividends reinvested.
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Peer Comparison
Compare growth, multiples, and margins vs sector.
AHR — Frequently Asked Questions
Quick answers to the most common questions about buying AHR stock.
Is AHR's revenue growth accelerating or slowing?
AHR revenue growth is accelerating. TTM revenue reached $2.4B, up +20.4% year-over-year — ahead of the 5-year CAGR of +13.8%. This indicates the business is expanding faster than its historical baseline.
What is AHR's revenue history from 2016 to 2026?
American Healthcare REIT, Inc. (AHR) revenue history spans 2016 to 2026. TTM revenue as of 2026 is $2.4B, growing at +20.4% YoY. The 5-year CAGR is +13.8%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is AHR's long-term revenue growth rate (CAGR)?
American Healthcare REIT, Inc.'s 5-year revenue CAGR of +13.8% reflects the sustained nature of its business expansion. As of 2026, the current YoY growth rate of +20.4% is above this long-term average. CAGR is the most reliable measure of sustained revenue momentum for AHR.
Why does AHR's quarterly revenue fluctuate?
AHR quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. American Healthcare REIT, Inc.'s revenue data from 2016 to 2026 shows full historical quarterly detail on this page.
How is AHR's revenue distributed by segment?
AHR reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does AHR's revenue compare to industry peers?
American Healthcare REIT, Inc. (AHR) with TTM revenue of $2.4B and +20.4% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.