30 years of historical data (1995–2024) · 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
Omega Healthcare Investors, Inc. trades at 31.1x earnings, 10% above its 5-year average of 28.2x, sitting at the 81st percentile of its historical range. Compared to the Real Estate sector median P/E of 23.4x, the stock trades at a premium of 33%. On a free-cash-flow basis, the stock trades at 18.0x P/FCF, 43% above the 5-year average of 12.6x.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $13.5B | $10.2B | $7.7B | $6.8B | $7.2B | $8.5B | $9.4B | $7.4B | $5.7B | $6.3B | $6.3B |
| Enterprise Value | $17.8B | $14.6B | $12.3B | $11.8B | $12.5B | $13.5B | $14.5B | $11.9B | $10.2B | $10.6B | $9.8B |
| P/E Ratio → | 31.14 | 24.42 | 30.66 | 15.53 | 16.91 | 53.41 | 27.50 | 26.23 | 54.00 | 16.45 | 27.12 |
| P/S Ratio | 12.81 | 9.74 | 8.09 | 7.77 | 6.80 | 9.57 | 10.13 | 8.36 | 6.27 | 7.00 | 8.49 |
| P/B Ratio | 2.76 | 2.16 | 2.04 | 1.80 | 1.76 | 2.12 | 2.17 | 1.96 | 1.46 | 1.50 | 1.54 |
| P/FCF | 17.98 | 13.66 | 12.43 | 11.80 | 11.53 | 13.49 | 22.72 | 20.48 | 11.59 | 11.32 | 21.07 |
| P/OCF | 17.98 | 13.66 | 12.43 | 10.91 | 10.01 | 12.06 | 16.99 | 14.76 | 9.85 | 10.07 | 13.61 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
Omega Healthcare Investors, Inc.'s enterprise value stands at 18.5x EBITDA, 19% above its 5-year average of 15.5x. The Real Estate sector median is 13.6x, placing the stock at a 35% 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 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 13.85 | 12.95 | 13.46 | 11.73 | 15.18 | 15.63 | 13.50 | 11.21 | 11.74 | 13.24 |
| EV / EBITDA | 18.45 | 15.10 | 15.21 | 16.31 | 13.72 | 17.32 | 17.01 | 15.28 | 16.89 | 12.79 | 15.83 |
| EV / EBIT | 26.97 | 22.66 | 25.05 | 17.65 | 19.15 | 35.12 | 26.28 | 23.90 | 31.22 | 18.89 | 23.58 |
| EV / FCF | — | 19.42 | 19.92 | 20.43 | 19.87 | 21.39 | 35.06 | 33.07 | 20.73 | 18.99 | 32.87 |
Margins and return-on-capital ratios measuring operating efficiency
Omega Healthcare Investors, Inc. earns an operating margin of 62.7%, significantly above the Real Estate sector average of 22.0%. Operating margins have expanded from 44.7% to 62.7% over the past 3 years, signaling improving operational efficiency. ROE of 9.6% is modest. ROIC of 5.7% represents adequate 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 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 98.6% | 98.6% | 98.4% | 98.2% | 98.8% | 98.6% | 98.4% | 100.0% | 100.0% | 100.0% | 100.0% |
| Operating Margin | 62.7% | 62.7% | 51.5% | 44.7% | 53.3% | 50.7% | 59.4% | 56.4% | 34.7% | 62.2% | 55.3% |
| Net Profit Margin | 38.6% | 38.6% | 25.5% | 48.6% | 39.2% | 17.9% | 36.7% | 31.9% | 11.1% | 40.7% | 30.2% |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 9.6% | 9.6% | 6.4% | 10.8% | 10.2% | 3.8% | 8.4% | 7.4% | 2.5% | 8.8% | 8.2% |
| ROA | 4.3% | 4.3% | 2.6% | 4.5% | 4.4% | 1.7% | 3.7% | 3.2% | 1.1% | 4.3% | 3.8% |
| ROIC | 5.7% | 5.7% | 4.3% | 3.2% | 4.6% | 3.7% | 4.7% | 4.5% | 2.8% | 5.2% | 5.4% |
| ROCE | 7.2% | 7.2% | 5.5% | 4.3% | 6.1% | 4.9% | 6.4% | 6.1% | 3.8% | 7.1% | 7.4% |
Solvency and debt-coverage ratios — lower is generally safer
Omega Healthcare Investors, Inc. carries a Debt/EBITDA ratio of 5.0x, which is highly leveraged (25% below the sector average of 6.7x). Net debt stands at $4.3B ($4.8B total debt minus $518M cash). Interest coverage of just 3.0x 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 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.02 | 1.02 | 1.35 | 1.39 | 1.28 | 1.28 | 1.18 | 1.21 | 1.18 | 1.04 | 0.86 |
| Debt / EBITDA | 5.02 | 5.02 | 6.27 | 7.30 | 5.78 | 6.61 | 6.02 | 5.83 | 7.59 | 5.28 | 5.69 |
| Net Debt / Equity | — | 0.91 | 1.23 | 1.31 | 1.27 | 1.24 | 1.18 | 1.20 | 1.15 | 1.01 | 0.86 |
| Net Debt / EBITDA | 4.48 | 4.48 | 5.72 | 6.89 | 5.76 | 6.40 | 5.99 | 5.82 | 7.44 | 5.17 | 5.68 |
| Debt / FCF | — | 5.77 | 7.49 | 8.63 | 8.35 | 7.91 | 12.35 | 12.59 | 9.13 | 7.67 | 11.80 |
| Interest Coverage | 2.98 | 2.98 | 2.08 | 1.68 | 2.41 | 2.02 | 2.64 | 2.47 | 1.43 | 3.19 | 2.24 |
Short-term solvency ratios and asset-utilisation metrics
Omega Healthcare Investors, Inc.'s current ratio of 8.03x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has improved from 5.30x to 8.03x 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 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 8.03 | 8.03 | 7.25 | 5.30 | 6.53 | 3.64 | 2.82 | 2.06 | 2.56 | 2.98 | 2.66 |
| Quick Ratio | 8.03 | 8.03 | 7.25 | 5.30 | 6.53 | 3.64 | 2.82 | 2.06 | 2.56 | 2.98 | 2.66 |
| Cash Ratio | 1.58 | 1.58 | 1.44 | 0.89 | 0.07 | 0.43 | 0.06 | 0.02 | 0.15 | 0.17 | 0.01 |
| Asset Turnover | — | 0.11 | 0.10 | 0.09 | 0.11 | 0.09 | 0.09 | 0.10 | 0.10 | 0.10 | 0.09 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Omega Healthcare Investors, Inc. returns 5.3% to shareholders annually primarily through dividends. The payout ratio exceeds 100% at 168.7%, meaning the company is paying out more than it earns — this level is unsustainable long-term without earnings recovery. The earnings yield of 3.2% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
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 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 5.3% | 6.7% | 8.4% | 9.3% | 8.8% | 7.2% | 6.0% | 7.2% | 8.8% | 7.2% | 5.7% |
| Payout Ratio | 168.7% | 168.7% | 265.9% | 148.2% | 153.0% | 384.3% | 165.4% | 187.8% | 500.5% | 123.7% | 159.6% |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.2% | 4.1% | 3.3% | 6.4% | 5.9% | 1.9% | 3.6% | 3.8% | 1.9% | 6.1% | 3.7% |
| FCF Yield | 5.6% | 7.3% | 8.0% | 8.5% | 8.7% | 7.4% | 4.4% | 4.9% | 8.6% | 8.8% | 4.7% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 2.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 5.3% | 6.7% | 8.4% | 11.4% | 8.8% | 7.2% | 6.0% | 7.2% | 8.8% | 7.2% | 5.7% |
| Shares Outstanding | — | $270M | $250M | $244M | $244M | $235M | $222M | $210M | $207M | $202M | $181M |
Compare OHI 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 |
|---|---|---|---|---|---|---|---|---|---|
| OHIYou | $13B | 31.1 | 18.5 | 18.0 | 98.6% | 62.7% | 9.6% | 5.7% | 5.0 |
| CTRE | $9B | 25.9 | 15.7 | 23.0 | 98.9% | 98.7% | 9.2% | 10.1% | — |
| SBRA | $5B | — | 18.7 | 14.8 | — | — | 5.6% | — | 3.7 |
| NHI | $4B | 27.8 | -0.2 | 17.2 | — | — | 9741.4% | — | — |
| LTC | $2B | 15.7 | 10.4 | 14.1 | 96.9% | 79.4% | 10.7% | 8.9% | 2.6 |
| STRW | $168M | 22.5 | 8.3 | 4.8 | 87.0% | 52.4% | 6.3% | 7.2% | 7.0 |
| 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 · 30 years · Updated daily
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Start ComparisonOmega Healthcare Investors, Inc.'s current P/E ratio is 31.1x. The historical average is 28.3x. This places it at the 81th percentile of its historical range.
Omega Healthcare Investors, Inc.'s current EV/EBITDA is 18.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 16.1x.
Omega Healthcare Investors, Inc.'s return on equity (ROE) is 9.6%. The historical average is 6.8%.
Based on historical data, Omega Healthcare Investors, Inc. is trading at a P/E of 31.1x. This is at the 81th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Omega Healthcare Investors, Inc.'s current dividend yield is 5.25% with a payout ratio of 168.7%.
Omega Healthcare Investors, Inc. has 98.6% gross margin and 62.7% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Omega Healthcare Investors, Inc.'s Debt/EBITDA ratio is 5.0x, indicating high leverage. A ratio above 4x may signal elevated financial risk.