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Live Earnings Conference Call: American Healthcare REIT will host a live Q1 2026 earnings call on May 8, 2026 at 1:00PM ET. Follow this link to get details and listen to American Healthcare REIT's Q1 2026 earnings call when it goes live. Get details.

American Healthcare REIT (AHR) Financials

American Healthcare REIT logo
$49.60 -0.42 (-0.83%)
Closing price 05/7/2026 03:59 PM Eastern
Extended Trading
$50.30 +0.70 (+1.40%)
As of 06:08 AM Eastern
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Annual Income Statements for American Healthcare REIT

Annual Income Statements for American Healthcare REIT

This table shows American Healthcare REIT's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2021 2022 2023 2024 2025
Period end date 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -48 -81 -71 -38 70
Consolidated Net Income / (Loss)		 -53 -73 -77 -36 71
Net Income / (Loss) Continuing Operations		 -53 -73 -77 -36 71
Total Pre-Tax Income 		-52 -73 -76 -34 49
Total Operating Income		 21 28 47 84 128
Total Gross Profit		 252 362 364 417 467
Total Revenue		 1,282 1,643 1,867 2,071 2,260
Operating Revenue		 1,282 1,643 1,867 2,071 2,260
Total Cost of Revenue		 1,030 1,282 1,502 1,654 1,794
Operating Cost of Revenue		 1,030 1,282 1,502 1,654 1,794
Total Operating Expenses		 231 334 318 333 338
Selling, General & Admin Expense		 43 43 48 48 59
Depreciation Expense		 133 168 183 179 188
Other Operating Expenses / (Income)		 39 60 57 53 51
Impairment Charge		 3.34 78 24 46 50
Restructuring Charge		 13 4.39 5.80 7.14 5.10
Other Special Charges / (Income)		 0.00 -20 - 0.00 -15
Total Other Income / (Expense), net		 -73 -101 -123 -118 -80
Interest Expense		 81 106 163 128 86
Interest & Investment Income		 0.50 4.47 6.61 4.49 6.84
Other Income / (Expense), net		 7.54 0.78 34 5.47 -0.82
Income Tax Expense		 0.96 0.59 0.66 1.71 -22
Net Income / (Loss) Attributable to Noncontrolling Interest		 -5.48 7.92 -5.42 2.21 1.01
Basic Earnings per Share		 ($0.95) ($1.24) ($1.08) ($0.29) $0.42
Weighted Average Basic Shares Outstanding		 50.08M 65.81M 66.05M 130.64M 166.06M
Diluted Earnings per Share		 ($0.95) ($1.24) ($1.08) ($0.29) $0.42
Weighted Average Diluted Shares Outstanding		 50.08M 65.81M 66.05M 130.64M 166.85M
Weighted Average Basic & Diluted Shares Outstanding		 - - 65.37M 157.57M 188.03M
Cash Dividends to Common per Share		 $0.69 $1.60 $1.00 $1.00 $1.00

Quarterly Income Statements for American Healthcare REIT

This table shows American Healthcare REIT's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
Period end date 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -12 -5.99 -27 -3.89 1.98 -4.13 -32 -6.80 9.91 56 11
Consolidated Net Income / (Loss)		 -12 -6.45 -31 -3.00 2.93 -3.09 -32 -6.84 10 57 11
Net Income / (Loss) Continuing Operations		 -12 -6.45 -31 -3.00 2.93 -3.09 -32 -6.84 10 57 11
Total Pre-Tax Income 		-12 -6.16 -31 -2.73 3.61 -2.83 -32 -6.24 11 36 8.53
Total Operating Income		 23 0.91 14 25 32 34 -6.41 17 34 53 25
Total Gross Profit		 95 90 98 96 102 107 112 108 116 118 124
Total Revenue		 468 464 483 500 505 524 543 541 543 573 604
Operating Revenue		 468 464 483 500 505 524 543 541 543 573 604
Total Cost of Revenue		 373 375 385 404 403 417 431 432 426 455 480
Operating Cost of Revenue		 373 375 385 404 403 417 431 432 426 455 480
Total Operating Expenses		 72 89 84 71 70 73 119 91 82 65 99
Selling, General & Admin Expense		 12 11 11 12 12 12 12 13 15 14 17
Depreciation Expense		 45 49 44 43 45 44 47 41 42 49 55
Other Operating Expenses / (Income)		 15 15 13 14 13 13 13 14 13 13 12
Impairment Charge		 - 13 - 0.00 0.00 0.00 - 22 13 3.77 12
Restructuring Charge		 0.89 1.02 3.55 2.78 0.02 3.54 0.81 1.84 -0.08 0.05 3.30
Total Other Income / (Expense), net		 -35 -7.08 -45 -28 -28 -37 -26 -23 -23 -18 -16
Interest Expense		 41 42 41 36 31 30 30 23 23 20 20
Interest & Investment Income		 2.48 1.25 0.86 0.66 2.07 0.02 1.74 -0.32 0.24 2.77 4.15
Other Income / (Expense), net		 3.99 34 -4.50 8.25 0.47 -6.28 3.03 0.31 -0.56 -0.12 -0.45
Income Tax Expense		 0.35 0.28 -0.11 0.28 0.69 0.26 0.49 0.60 0.73 -21 -2.42
Net Income / (Loss) Attributable to Noncontrolling Interest		 0.32 -0.46 -3.53 0.89 0.95 1.03 -0.66 -0.04 0.17 0.71 0.17
Basic Earnings per Share		 ($0.19) ($0.09) ($0.41) ($0.04) $0.01 ($0.03) ($0.23) ($0.04) $0.06 $0.33 $0.07
Weighted Average Basic Shares Outstanding		 66.03M 66.05M 66.05M 104.30M 130.53M 133.73M 130.64M 156.92M 160.50M 169.01M 166.06M
Diluted Earnings per Share		 ($0.19) ($0.09) ($0.41) ($0.04) $0.01 ($0.03) ($0.23) ($0.04) $0.06 $0.33 $0.07
Weighted Average Diluted Shares Outstanding		 66.03M 66.05M 66.05M 104.30M 130.69M 133.73M 130.64M 156.92M 161.14M 169.80M 166.85M
Weighted Average Basic & Diluted Shares Outstanding		 - 66.23M 65.37M 131.65M 131.65M 153.06M 157.57M 159.50M 168.58M 176.91M 188.03M

Annual Cash Flow Statements for American Healthcare REIT

This table details how cash moves in and out of American Healthcare REIT's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2021 2022 2023 2024 2025
Period end date 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 -27 -14 -21 33 28
Net Cash From Operating Activities		 18 148 99 176 294
Net Cash From Continuing Operating Activities		 18 148 99 176 294
Net Income / (Loss) Continuing Operations		 -53 -73 -77 -36 71
Consolidated Net Income / (Loss)		 -53 -73 -77 -36 71
Depreciation Expense		 133 168 183 179 188
Amortization Expense		 24 33 55 42 38
Non-Cash Adjustments To Reconcile Net Income		 -1.32 59 -7.01 60 51
Changes in Operating Assets and Liabilities, net		 -85 -38 -55 -70 -52
Net Cash From Investing Activities		 -139 -119 9.40 -8.73 -1,083
Net Cash From Continuing Investing Activities		 -139 -119 9.40 -8.73 -1,083
Purchase of Property, Plant & Equipment		 -80 -145 -145 -152 -1,013
Acquisitions		 -1.20 -19 -13 -0.24 -119
Sale of Property, Plant & Equipment		 4.50 48 185 141 50
Sale and/or Maturity of Investments		 - 0.00 6.08 30 11
Other Investing Activities, net		 0.00 -3.55 -23 -28 -12
Net Cash From Financing Activities		 94 -43 -129 -135 817
Net Cash From Continuing Financing Activities		 94 -43 -129 -135 817
Repayment of Debt		 -196 -1,241 -566 -1,953 -437
Repurchase of Common Equity		 -0.39 -23 -19 -109 -10
Payment of Dividends		 -39 -67 -86 -125 -166
Issuance of Debt		 350 1,280 562 954 279
Issuance of Common Equity		 - 0.00 0.00 1,364 1,157
Other Financing Activities, net		 -11 7.04 -19 -267 -4.41
Cash Interest Paid		 70 89 153 116 80
Cash Income Taxes Paid		 1.24 1.13 1.30 1.32 1.80

Quarterly Cash Flow Statements for American Healthcare REIT

This table details how cash moves in and out of American Healthcare REIT's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
Period end date 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025
Net Change in Cash & Equivalents		 5.51 -11 8.58 34 -27 19 6.73 4.06 43 14 -33
Net Cash From Operating Activities		 20 29 26 -5.95 59 63 60 61 71 107 55
Net Cash From Continuing Operating Activities		 20 29 26 -5.95 59 63 60 61 71 107 55
Net Income / (Loss) Continuing Operations		 -12 -6.45 -31 -3.00 2.93 -3.09 -32 -6.84 10 57 11
Consolidated Net Income / (Loss)		 -12 -6.45 -31 -3.00 2.93 -3.09 -32 -6.84 10 57 11
Depreciation Expense		 45 49 44 43 45 44 47 41 42 49 55
Amortization Expense		 12 14 8.12 12 11 9.65 10 9.82 9.40 9.54 8.89
Non-Cash Adjustments To Reconcile Net Income		 1.71 -16 8.73 1.46 3.46 1.54 53 25 18 -8.26 17
Changes in Operating Assets and Liabilities, net		 -27 -12 -4.07 -59 -3.09 11 -18 -8.21 -7.46 0.08 -37
Net Cash From Investing Activities		 43 11 -11 -5.22 -60 -30 87 -33 -62 -278 -710
Net Cash From Continuing Investing Activities		 43 11 -11 -5.22 -60 -30 87 -33 -62 -278 -710
Purchase of Property, Plant & Equipment		 -31 -55 -25 -20 -65 -30 -38 -38 -92 -291 -592
Acquisitions		 -6.00 - -0.59 0.00 - - -0.24 -0.00 -0.36 -0.08 -118
Sale of Property, Plant & Equipment		 81 80 17 15 -0.00 0.01 127 9.58 27 10 3.63
Sale and/or Maturity of Investments		 - - 6.08 8.38 11 4.40 6.45 2.98 3.65 3.00 1.16
Other Investing Activities, net		 -0.31 -14 -8.06 -7.89 -6.64 -5.26 -7.82 -7.70 0.11 -0.66 -4.21
Net Cash From Financing Activities		 -57 -52 -5.89 45 -26 -14 -140 -24 33 186 622
Net Cash From Continuing Financing Activities		 -57 -52 -5.89 45 -26 -14 -140 -24 33 186 622
Repayment of Debt		 -168 -150 -160 -799 -277 -339 -538 -92 -211 -96 -39
Repurchase of Common Equity		 -0.87 -16 15 -73 -1.94 -57 33 -0.59 -1.72 -2.42 -5.32
Payment of Dividends		 -20 -18 -18 -18 -34 -34 -39 -40 -40 -42 -43
Issuance of Debt		 139 143 158 163 299 168 325 64 99 83 34
Issuance of Common Equity		 - - - 773 - 471 120 48 189 244 677
Other Financing Activities, net		 -7.03 -27 -1.54 -0.73 -37 -223 -5.14 -2.90 -1.05 -0.50 0.04
Cash Interest Paid		 39 38 39 36 27 28 25 21 21 19 19
Cash Income Taxes Paid		 0.41 0.22 0.28 0.16 0.58 0.16 0.43 0.23 0.61 0.28 0.69

Annual Balance Sheets for American Healthcare REIT

This table presents American Healthcare REIT's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024 2025
Period end date 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 4,787 4,578 4,488 5,426
Total Current Assets		 203 229 288 319
Cash & Equivalents		 65 43 77 115
Accounts Receivable		 138 185 211 204
Plant, Property, & Equipment, net		 3,582 3,425 3,367 4,183
Total Noncurrent Assets		 1,003 924 834 924
Goodwill		 232 235 235 235
Intangible Assets		 236 180 161 253
Other Noncurrent Operating Assets		 535 508 437 435
Total Liabilities & Shareholders' Equity		 4,787 4,578 4,488 5,426
Total Liabilities		 3,137 3,119 2,184 2,066
Total Current Liabilities		 244 243 258 318
Accounts Payable		 244 243 258 318
Total Noncurrent Liabilities		 2,894 2,876 1,926 1,748
Long-Term Debt		 2,512 2,526 1,671 1,517
Capital Lease Obligations		 273 226 165 136
Noncurrent Deferred Revenue		 50 76 52 60
Other Noncurrent Operating Liabilities		 59 48 38 36
Commitments & Contingencies		 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 82 34 0.22 0.00
Total Equity & Noncontrolling Interests		 1,568 1,425 2,306 3,362
Total Preferred & Common Equity		 1,400 1,270 2,261 3,321
Preferred Stock		 0.00 0.00 0.00 0.00
Total Common Equity		 1,400 1,270 2,261 3,321
Common Stock		 2,541 2,549 3,722 4,882
Retained Earnings		 -1,138 -1,276 -1,458 -1,559
Accumulated Other Comprehensive Income / (Loss)		 -2.69 -2.43 -2.51 -2.10
Noncontrolling Interest		 168 155 43 40

Quarterly Balance Sheets for American Healthcare REIT

This table presents American Healthcare REIT's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025
Period end date 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025
Total Assets		 4,589 4,703 4,645 4,677 4,464 4,507 4,770
Total Current Assets		 205 293 253 272 309 358 336
Cash & Equivalents		 35 77 52 68 86 133 147
Accounts Receivable		 169 216 201 204 223 224 189
Plant, Property, & Equipment, net		 0.00 3,479 3,510 3,536 3,337 3,346 3,599
Total Noncurrent Assets		 4,384 932 882 870 818 803 836
Goodwill		 235 235 235 235 235 235 235
Intangible Assets		 197 188 179 178 156 156 181
Other Noncurrent Operating Assets		 3,952 509 468 457 427 412 419
Total Liabilities & Shareholders' Equity		 4,589 4,703 4,645 4,677 4,464 4,507 4,770
Total Liabilities		 3,055 2,561 2,541 2,420 2,159 2,044 2,050
Total Current Liabilities		 234 257 254 270 272 274 298
Accounts Payable		 234 257 254 270 272 274 298
Total Noncurrent Liabilities		 2,821 2,303 2,287 2,150 1,887 1,770 1,752
Long-Term Debt		 2,498 1,988 2,012 1,879 1,643 1,533 1,521
Capital Lease Obligations		 - 220 179 174 154 148 141
Noncurrent Deferred Revenue		 44 49 50 52 53 52 54
Other Noncurrent Operating Liabilities		 279 47 46 45 37 37 36
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 60 12 0.22 0.22 0.22 0.00 0.00
Total Equity & Noncontrolling Interests		 1,474 2,131 2,104 2,257 2,304 2,463 2,722
Total Preferred & Common Equity		 1,314 1,961 1,933 2,207 2,262 2,421 2,678
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 1,314 1,961 1,933 2,207 2,262 2,421 2,678
Common Stock		 2,549 3,277 3,280 3,596 3,770 3,959 4,204
Retained Earnings		 -1,232 -1,313 -1,344 -1,387 -1,505 -1,536 -1,523
Accumulated Other Comprehensive Income / (Loss)		 -2.62 -2.47 -2.46 -2.15 -2.34 -1.99 -2.11
Noncontrolling Interest		 159 170 171 49 42 42 42

Annual Metrics And Ratios for American Healthcare REIT

This table displays calculated financial ratios and metrics derived from American Healthcare REIT's official financial filings.

Metric 2021 2022 2023 2024 2025
Period end date 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 - - - - 176,908,238.00
DEI Adjusted Shares Outstanding		 - - - - 176,908,238.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - 0.39
Growth Metrics		 - - - - -
Profitability Metrics		 - - - - -
Net Operating Profit after Tax (NOPAT)		 14 20 33 59 187
Return On Investment Capital (ROIC_SIMPLE)		 - 0.45% 0.79% 1.42% 3.73%
Earnings before Interest and Taxes (EBIT)		 28 29 81 89 128
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 186 229 318 311 353
Valuation Ratios		 - - - - -
Leverage & Solvency		 - - - - -
Liquidity Ratios		 - - - - -
Cash Flow Metrics		 - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -4,349 234 163 -648
Efficiency Ratios		 - - - - -
Capital & Investment Metrics		 - - - - -
Invested Capital		 0.00 4,369 4,168 4,063 4,898
Increase / (Decrease) in Invested Capital		 0.00 4,369 -201 -104 835
Book Value per Share		 $0.00 $21.28 $19.18 $14.77 $18.77
Tangible Book Value per Share		 $0.00 $14.17 $12.91 $12.18 $16.01
Total Capital		 0.00 4,434 4,211 4,140 5,015
Total Debt		 0.00 2,785 2,752 1,836 1,652
Total Long-Term Debt		 0.00 2,785 2,752 1,836 1,652
Net Debt		 0.00 2,720 2,708 1,759 1,537
Capital Expenditures (CapEx)		 75 96 -39 11 963
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 -106 -58 -47 -113
Debt-free Net Working Capital (DFNWC)		 0.00 -41 -14 29 1.41
Net Working Capital (NWC)		 0.00 -41 -14 29 1.41
Net Nonoperating Expense (NNE)		 68 93 110 94 116
Net Nonoperating Obligations (NNO)		 0.00 2,720 2,708 1,759 1,536
Total Depreciation and Amortization (D&A)		 157 201 237 222 225
Earnings Adjustments		 - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 ($1.08) ($0.29) $0.42
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 66.05M 130.64M 166.06M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 ($1.08) ($0.29) $0.42
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 66.05M 130.64M 166.85M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 65.37M 157.57M 188.03M
Normalized Net Operating Profit after Tax (NOPAT)		 26 63 54 96 118
Debt Service Ratios		 - - - - -
Payout Ratios		 - - - - -

Quarterly Metrics And Ratios for American Healthcare REIT

This table displays calculated financial ratios and metrics derived from American Healthcare REIT's official financial filings.

Metric Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
Period end date 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025
DEI Shares Outstanding		 - - - - - - - - - - 176,908,238.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 176,908,238.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 0.06
Growth Metrics		 - - - - - - - - - - -
Profitability Metrics		 - - - - - - - - - - -
Net Operating Profit after Tax (NOPAT)		 16 0.64 9.63 17 26 24 -4.49 12 31 85 32
Return On Investment Capital (ROIC_SIMPLE)		 - - 0.23% - - - -0.11% 0.29% 0.76% 1.94% 0.63%
Earnings before Interest and Taxes (EBIT)		 27 35 9.26 33 32 28 -3.38 17 33 53 24
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 84 98 61 88 88 81 54 68 85 112 88
Valuation Ratios		 - - - - - - - - - - -
Leverage & Solvency		 - - - - - - - - - - -
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -3,996 211 -4,256 -4,217 -222 100 270 264 92 -803
Efficiency Ratios		 - - - - - - - - - - -
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 0.00 3,997 4,168 4,273 4,243 4,242 4,063 4,015 4,011 4,235 4,898
Increase / (Decrease) in Invested Capital		 0.00 3,997 -201 4,273 4,243 246 -104 -258 -233 -7.43 835
Book Value per Share		 $0.00 $19.90 $19.18 $30.00 $14.69 $16.77 $14.77 $14.36 $15.18 $15.89 $18.77
Tangible Book Value per Share		 $0.00 $13.36 $12.91 $23.53 $11.54 $13.63 $12.18 $11.87 $12.73 $13.42 $16.01
Total Capital		 0.00 4,032 4,211 4,350 4,295 4,310 4,140 4,101 4,144 4,384 5,015
Total Debt		 0.00 2,498 2,752 2,208 2,191 2,053 1,836 1,797 1,681 1,662 1,652
Total Long-Term Debt		 0.00 2,498 2,752 2,208 2,191 2,053 1,836 1,797 1,681 1,662 1,652
Net Debt		 0.00 2,463 2,708 2,130 2,139 1,985 1,759 1,711 1,548 1,515 1,537
Capital Expenditures (CapEx)		 -49 -25 8.73 5.72 65 30 -89 28 65 281 589
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 -64 -58 -41 -53 -66 -47 -50 -50 -109 -113
Debt-free Net Working Capital (DFNWC)		 0.00 -29 -14 36 -0.54 1.74 29 36 84 38 1.41
Net Working Capital (NWC)		 0.00 -29 -14 36 -0.54 1.74 29 36 84 38 1.41
Net Nonoperating Expense (NNE)		 28 7.09 41 20 23 27 28 19 21 28 21
Net Nonoperating Obligations (NNO)		 0.00 2,463 2,708 2,130 2,139 1,985 1,759 1,711 1,548 1,513 1,536
Total Depreciation and Amortization (D&A)		 57 63 52 55 56 54 57 51 51 59 64
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 ($0.09) ($0.41) ($0.04) $0.01 ($0.03) ($0.23) ($0.04) $0.06 $0.33 $0.07
Adjusted Weighted Average Basic Shares Outstanding		 0.00 66.05M 66.05M 104.30M 130.53M 133.73M 130.64M 156.92M 160.50M 169.01M 166.06M
Adjusted Diluted Earnings per Share		 $0.00 ($0.09) ($0.41) ($0.04) $0.01 ($0.03) ($0.23) ($0.04) $0.06 $0.33 $0.07
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 66.05M 66.05M 104.30M 130.69M 133.73M 130.64M 156.92M 161.14M 169.80M 166.85M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 66.23M 65.37M 131.65M 131.65M 153.06M 157.57M 159.50M 168.58M 176.91M 188.03M
Normalized Net Operating Profit after Tax (NOPAT)		 17 10 12 19 26 26 -3.92 28 43 30 28
Debt Service Ratios		 - - - - - - - - - - -
Payout Ratios		 - - - - - - - - - - -

Financials Breakdown Chart

Key Financial Trends

American Healthcare REIT (NYSE: AHR) shows improving profitability and a stronger capital position in 2025 versus prior years, based on the latest four quarters and year-ago comparisons. Revenue and gross profit have held up, operating income and net income to common shareholders improved meaningfully, and the company has actively raised equity to bolster liquidity. At the same time, investing activity remained a sizable cash outflow and quarterly cash balances declined in the most recent quarter, highlighting ongoing capital expenditure and balance-sheet dynamics to watch.

  • Revenue growth: Q4 2025 Operating Revenue reached 604.08 million, up from 542.74 million in Q4 2024, reflecting stronger topline performance year-over-year.
  • Earnings swing to profitability: Q4 2025 Net Income / (Loss) Attributable to Common Shareholders was 10.78 million, turning positive after the prior year’s decline, and Q4 2025 Total Operating Income was 24.63 million, up from negative operating income in the prior-year period.
  • Strong cash generation in 2025 quarters: Net Cash From Continuing Operating Activities remained positive across 2025 quarters (e.g., Q3 2025: 107.19 million; Q4 2025: 55.17 million; Q2 2025: 71.48 million; Q1 2025: 60.62 million), indicating ongoing operating cash flow strength.
  • Balance-sheet strengthening via equity issuance: Issuance of Common Equity in 2025 contributed significantly to shareholder funds (e.g., Q4 2025 showings of 676.70 million; Q3 2025: 243.51 million), supporting liquidity and growth initiatives.
  • Liability leverage easing: Total Liabilities declined year-over-year to about 2.05 billion in Q3 2025 from roughly 2.42 billion in Q3 2024, suggesting improved leverage and balance-sheet flexibility.
  • Asset base expanding: Total Assets reached about 4.77 billion in Q3 2025, up from roughly 4.68 billion in Q3 2024, indicating growth in asset deployment and scale.
  • Gross margin remained around the 20% range: Total Gross Profit relative to Revenue hovered near 20% across the recent period (roughly 20.3%–20.5%), indicating modest margin stability despite higher revenue in 2025.
  • Latest quarter cash balance softness: Cash and Equivalents decreased in Q4 2025 despite positive operating cash flow, reflecting higher investing and financing activity and ongoing capex.
  • Large investing cash outflows in Q4 2025: Net Cash From Investing Activities was deeply negative at about -709.97 million, driven by substantial PPE purchases and other investing activity, which may pressure near-term liquidity if not offset by financing or cash from operations.
  • Net cash in the quarter pared back by higher cash outlays: Net Change in Cash & Equivalents in Q4 2025 was a negative 32.61 million, signaling a reduction in cash despite positive operating cash flow earlier in the period.
05/08/26 06:45 AM ETAI Generated. May Contain Errors.

Frequently Asked Questions About American Healthcare REIT's Financials

When does American Healthcare REIT's financial year end?

According to the most recent income statement we have on file, American Healthcare REIT's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

How has American Healthcare REIT's net income changed over the last 4 years?

American Healthcare REIT's net income appears to be on a downward trend, with a most recent value of $70.82 million in 2025, falling from -$53.27 million in 2021. The previous period was -$35.60 million in 2024. Check out American Healthcare REIT's forecast to explore projected trends and price targets.

What is American Healthcare REIT's operating income?
American Healthcare REIT's total operating income in 2025 was $128.41 million, based on the following breakdown:
  • Total Gross Profit: $466.59 million
  • Total Operating Expenses: $338.18 million
How has American Healthcare REIT's revenue changed over the last 4 years?

Over the last 4 years, American Healthcare REIT's total revenue changed from $1.28 billion in 2021 to $2.26 billion in 2025, a change of 76.3%.

How much debt does American Healthcare REIT have?

American Healthcare REIT's total liabilities were at $2.07 billion at the end of 2025, a 5.4% decrease from 2024, and a 34.2% decrease since 2022.

How much cash does American Healthcare REIT have?

In the past 3 years, American Healthcare REIT's cash and equivalents has ranged from $43.45 million in 2023 to $114.84 million in 2025, and is currently $114.84 million as of their latest financial filing in 2025.

How has American Healthcare REIT's book value per share changed over the last 4 years?

Over the last 4 years, American Healthcare REIT's book value per share changed from 0.00 in 2021 to 18.77 in 2025, a change of 1,877.0%.


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Financial statements for NYSE:AHR last updated on 3/4/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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