Omega Healthcare Investors, Inc. (OHI) Financial Ratios
30 years of historical data (1996–2025) · Real Estate · REIT - Healthcare Facilities
EV/EBITDA
↑
16.70
+8% vs avg
5yr avg: 15.42
30Y Low7.0·High86.3
P/FCF
↑
15.62
+18% vs avg
5yr avg: 13.28
30Y Low3.2·High31.2
P/B Ratio
↑
2.63
↑+28% vs avg
5yr avg: 2.06
30Y Low0.2·High3.5
ROE
↑
11.6%
↓+19% vs avg
5yr avg: 9.7%
30Y Low-14%·High16%
Debt/EBITDA
↓
3.96
↓-30% vs avg
5yr avg: 5.66
30Y Low3.5·High10.5
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
OHI Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Omega Healthcare Investors, Inc. trades at 23.7x earnings, 8% above its 5-year average of 22.1x, sitting at the 54th percentile of its historical range. This is roughly in line with the Real Estate sector median P/E of 24.5x. On a free-cash-flow basis, the stock trades at 15.6x P/FCF, 18% above the 5-year average of 13.3x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $13.7B | $13.8B | $10.2B | $7.7B | $6.8B | $7.2B | $8.5B | $9.4B | $7.4B | $5.7B | $6.3B |
| Enterprise Value | $17.9B | $18.0B | $14.6B | $12.3B | $11.8B | $12.5B | $13.5B | $14.5B | $11.9B | $10.2B | $10.6B |
| P/E Ratio → | 23.75 | 22.86 | 24.42 | 30.66 | 15.53 | 16.91 | 53.41 | 27.50 | 26.23 | 54.00 | 16.45 |
| P/S Ratio | 11.45 | 11.50 | 9.74 | 8.09 | 7.77 | 6.80 | 9.57 | 10.13 | 8.36 | 6.27 | 7.00 |
| P/B Ratio | 2.63 | 2.53 | 2.16 | 2.04 | 1.80 | 1.76 | 2.12 | 2.17 | 1.96 | 1.46 | 1.50 |
| P/FCF | 15.62 | 15.68 | 14.36 | 13.05 | 11.80 | 11.53 | 13.49 | 22.72 | 20.48 | 11.59 | 11.32 |
| P/OCF | 15.62 | 15.68 | 13.66 | 12.26 | 10.91 | 10.01 | 12.06 | 16.99 | 14.76 | 9.85 | 10.07 |
P/E links to full P/E history page with 30-year chart
OHI EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Omega Healthcare Investors, Inc.'s enterprise value stands at 16.7x EBITDA, 8% above its 5-year average of 15.4x. This is roughly in line with the Real Estate sector median of 16.7x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 15.03 | 13.85 | 12.95 | 13.46 | 11.73 | 15.18 | 15.63 | 13.50 | 11.21 | 11.74 |
| EV / EBITDA | 16.70 | 16.75 | 15.10 | 15.21 | 16.31 | 13.72 | 17.32 | 17.01 | 15.28 | 16.89 | 12.79 |
| EV / EBIT | 23.95 | 21.31 | 22.66 | 25.05 | 17.65 | 19.15 | 35.12 | 26.28 | 23.90 | 31.22 | 18.89 |
| EV / FCF | — | 20.49 | 20.43 | 20.91 | 20.43 | 19.87 | 21.39 | 35.06 | 33.07 | 20.73 | 18.99 |
OHI Profitability
Margins and return-on-capital ratios measuring operating efficiency
Omega Healthcare Investors, Inc. earns an operating margin of 62.6%, significantly above the Real Estate sector average of 26.0%. Operating margins have expanded from 51.5% to 62.6% over the past 3 years, signaling improving operational efficiency. ROE of 11.6% is modest. ROIC of 6.0% represents adequate returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 44.5% | 44.5% | 98.6% | 98.4% | 98.2% | 98.8% | 98.6% | 98.4% | 100.0% | 100.0% | 100.0% |
| Operating Margin | 62.6% | 62.6% | 62.7% | 51.5% | 44.7% | 53.3% | 50.7% | 59.4% | 56.4% | 34.7% | 62.2% |
| Net Profit Margin | 49.3% | 49.3% | 38.6% | 25.5% | 48.6% | 39.2% | 17.9% | 36.7% | 31.9% | 11.1% | 40.7% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 11.6% | 11.6% | 9.6% | 6.4% | 10.8% | 10.2% | 3.8% | 8.4% | 7.4% | 2.5% | 8.8% |
| ROA | 5.9% | 5.9% | 4.3% | 2.6% | 4.5% | 4.4% | 1.7% | 3.7% | 3.2% | 1.1% | 4.3% |
| ROIC | 6.0% | 6.0% | 5.7% | 4.3% | 3.2% | 4.6% | 3.7% | 4.7% | 4.5% | 2.8% | 5.2% |
| ROCE | 7.9% | 7.9% | 7.2% | 5.5% | 4.3% | 6.1% | 4.9% | 6.4% | 6.1% | 3.8% | 7.1% |
OHI Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Omega Healthcare Investors, Inc. carries a Debt/EBITDA ratio of 4.0x, which is moderately leveraged (50% below the sector average of 7.9x). Net debt stands at $4.2B ($4.3B total debt minus $27M cash). Interest coverage of 3.8x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.78 | 0.78 | 1.02 | 1.35 | 1.39 | 1.28 | 1.28 | 1.18 | 1.21 | 1.18 | 1.04 |
| Debt / EBITDA | 3.96 | 3.96 | 5.02 | 6.27 | 7.30 | 5.78 | 6.61 | 6.02 | 5.83 | 7.59 | 5.28 |
| Net Debt / Equity | — | 0.78 | 0.91 | 1.23 | 1.31 | 1.27 | 1.24 | 1.18 | 1.20 | 1.15 | 1.01 |
| Net Debt / EBITDA | 3.94 | 3.94 | 4.48 | 5.72 | 6.89 | 5.76 | 6.40 | 5.99 | 5.82 | 7.44 | 5.17 |
| Debt / FCF | — | 4.81 | 6.06 | 7.86 | 8.63 | 8.35 | 7.91 | 12.35 | 12.59 | 9.13 | 7.67 |
| Interest Coverage | 3.83 | 3.83 | 2.90 | 2.09 | 2.87 | 2.77 | 1.73 | 2.65 | 2.47 | 1.48 | 3.19 |
OHI Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Omega Healthcare Investors, Inc.'s current ratio of 3.46x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has declined from 7.25x to 3.46x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.46 | 3.46 | 8.03 | 7.25 | 5.30 | 6.53 | 3.64 | 2.82 | 2.06 | 2.56 | 2.98 |
| Quick Ratio | 3.46 | 3.46 | 8.03 | 7.25 | 5.30 | 6.53 | 3.64 | 2.82 | 2.06 | 2.56 | 2.98 |
| Cash Ratio | 0.05 | 0.05 | 1.58 | 1.44 | 0.89 | 0.07 | 0.43 | 0.06 | 0.02 | 0.15 | 0.17 |
| Asset Turnover | — | 0.12 | 0.11 | 0.10 | 0.09 | 0.11 | 0.09 | 0.09 | 0.10 | 0.10 | 0.10 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
OHI Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Omega Healthcare Investors, Inc. returns 5.5% to shareholders annually primarily through dividends. The payout ratio exceeds 100% at 132.2%, meaning the company is paying out more than it earns — this level is unsustainable long-term without earnings recovery. The earnings yield of 4.2% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 5.5% | 5.7% | 6.7% | 8.4% | 9.3% | 8.8% | 7.2% | 6.0% | 7.2% | 8.8% | 7.2% |
| Payout Ratio | 132.2% | 132.2% | 168.7% | 265.9% | 148.2% | 153.0% | 384.3% | 165.4% | 187.8% | 500.5% | 123.7% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.2% | 4.4% | 4.1% | 3.3% | 6.4% | 5.9% | 1.9% | 3.6% | 3.8% | 1.9% | 6.1% |
| FCF Yield | 6.4% | 6.4% | 7.0% | 7.7% | 8.5% | 8.7% | 7.4% | 4.4% | 4.9% | 8.6% | 8.8% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 2.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 5.5% | 5.7% | 6.7% | 8.4% | 11.4% | 8.8% | 7.2% | 6.0% | 7.2% | 8.8% | 7.2% |
| Shares Outstanding | — | $311M | $270M | $250M | $244M | $244M | $235M | $222M | $210M | $207M | $202M |
Peer Comparison
Compare OHI 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 |
|---|---|---|---|---|---|---|---|---|---|
 OHIYou | $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 | 10.1 | 13.7 | 96.9% | 79.4% | 10.7% | 8.9% | 2.6 |
 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 |
 VTR | $41B | 160.4 | 24.3 | 31.3 | -5.9% | 14.2% | 2.1% | 2.5% | 6.0 |
 WELL | $152B | 155.7 | 67.4 | 53.3 | 39.2% | 3.3% | 2.5% | 0.5% | 8.6 |
 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 |
 GMRE | $94M | 115.3 | 8.3 | — | 78.9% | 23.6% | 1.1% | 2.0% | 7.4 |
 MPW | $3B | -17.1 | 105.4 | 14.6 | — | — | -4.2% | — | 4.6 |
| Real Estate Median | — | 24.5 | 16.7 | 15.6 | 52.1% | 26.0% | 3.5% | 3.0% | 7.9 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Start ComparisonOHI — Frequently Asked Questions
Quick answers to the most common questions about buying OHI stock.
What is Omega Healthcare Investors, Inc.'s P/E ratio?
Omega Healthcare Investors, Inc.'s current P/E ratio is 23.7x. The historical average is 28.5x. This places it at the 54th percentile of its historical range.
What is Omega Healthcare Investors, Inc.'s EV/EBITDA?
Omega Healthcare Investors, Inc.'s current EV/EBITDA is 16.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 16.4x.
What is Omega Healthcare Investors, Inc.'s ROE?
Omega Healthcare Investors, Inc.'s return on equity (ROE) is 11.6%. The historical average is 7.0%.
Is OHI stock overvalued?
Based on historical data, Omega Healthcare Investors, Inc. is trading at a P/E of 23.7x. This is at the 54th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Omega Healthcare Investors, Inc.'s dividend yield?
Omega Healthcare Investors, Inc.'s current dividend yield is 5.45% with a payout ratio of 132.2%.
What are Omega Healthcare Investors, Inc.'s profit margins?
Omega Healthcare Investors, Inc. has 44.5% gross margin and 62.6% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Omega Healthcare Investors, Inc. have?
Omega Healthcare Investors, Inc.'s Debt/EBITDA ratio is 4.0x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.