Healthcare Realty Trust (HR) Financials

$20.36 -0.01 (-0.02%)

Closing price 03:59 PM Eastern

Extended Trading

$20.36 -0.01 (-0.05%)

As of 04:15 PM Eastern

Annual Income Statements for Healthcare Realty Trust

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	33	46	64	213	30	72	67	41	-278	-654	-246
Consolidated Net Income / (Loss)	34	47	66	218	31	72	67	41	-282	-664	-249
Net Income / (Loss) Continuing Operations	34	47	66	218	31	72	67	41	-282	-664	-249
Total Pre-Tax Income	33	47	65	216	29	72	67	41	-282	-664	-249
Total Operating Income	94	111	161	151	146	79	82	-24	54	33	93
Total Gross Profit	280	317	614	696	481	303	323	589	843	795	731
Total Revenue	404	461	614	696	692	500	535	933	1,344	1,268	1,181
Operating Revenue	404	461	614	696	692	500	535	933	1,344	1,268	1,181
Total Cost of Revenue	123	144	0.00	0.00	211	197	212	344	500	473	449
Operating Cost of Revenue	123	144	0.00	-	211	197	212	344	500	473	449
Total Operating Expenses	187	206	453	545	334	224	241	612	789	761	639
Selling, General & Admin Expense	26	29	33	35	41	31	34	53	58	83	73
Depreciation Expense	154	177	245	280	290	190	203	453	731	675	564
Other Operating Expenses / (Income)	4.56	6.54	198	222	2.35	0.00	0.00	103	-1.95	0.00	0.00
Restructuring Charge	-	-	-	-	-	2.56	3.93	3.23	2.03	3.12	2.03
Total Other Income / (Expense), net	-60	-64	-97	65	-117	-7.22	-15	65	-336	-697	-342
Interest Expense	58	65	97	102	118	78	53	149	259	243	209
Interest & Investment Income	-	-	-	-	-	-0.46	-0.80	-0.69	-1.68	-0.14	-0.19
Other Income / (Expense), net	-2.20	1.63	0.03	166	0.84	71	39	214	-76	-455	-133
Net Income / (Loss) Attributable to Noncontrolling Interest	0.63	1.43	1.66	4.16	0.60	0.00	0.00	-0.20	-3.82	-9.42	-3.41
Basic Earnings per Share	$0.26	$0.34	$0.35	$1.04	$0.15	$0.52	$0.45	$0.15	($0.74)	($1.81)	($0.71)
Weighted Average Basic Shares Outstanding	126.07M	136.62M	181.06M	206.07M	205.72M	133.93M	142.64M	252.36M	378.93M	365.55M	349.80M
Diluted Earnings per Share	$0.26	$0.33	$0.34	$1.02	$0.14	$0.52	$0.45	$0.15	($0.74)	($1.81)	($0.71)
Weighted Average Diluted Shares Outstanding	128.00M	140.26M	185.28M	210.06M	209.61M	134.01M	142.71M	253.87M	378.93M	365.55M	349.80M
Weighted Average Basic & Diluted Shares Outstanding	-	141.72M	205.05M	205.06M	216.69M	218.75M	229.03M	380.78M	381.18M	350.82M	348.85M
Cash Dividends to Common per Share	$1.17	$1.19	$1.21	$1.23	$1.25	$1.27	$1.21	$1.24	$1.24	$1.24	$1.10

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

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	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	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-68	-41	-311	-144	-93	-107	-45	-158	-58	14	-0.06
Consolidated Net Income / (Loss)	-69	-42	-315	-146	-95	-108	-45	-160	-59	15	0.02
Net Income / (Loss) Continuing Operations	-69	-42	-315	-146	-95	-108	-45	-160	-59	15	0.02
Total Pre-Tax Income	-69	-42	-315	-146	-95	-108	-45	-160	-59	15	0.02
Total Operating Income	6.02	13	12	11	11	250	19	16	25	34	32
Total Gross Profit	211	209	206	199	195	195	189	188	184	176	179
Total Revenue	342	330	327	316	315	310	299	298	298	286	279
Operating Revenue	342	330	327	316	315	310	299	298	298	286	279
Total Cost of Revenue	132	121	121	118	120	114	110	110	113	111	100
Operating Cost of Revenue	132	121	121	118	120	114	110	110	113	111	100
Total Operating Expenses	205	196	193	188	184	-54	171	172	160	141	147
Selling, General & Admin Expense	13	15	15	14	20	34	14	23	22	14	17
Depreciation Expense	183	180	178	173	163	160	156	148	138	127	129
Restructuring Charge	0.77	0.30	0.40	0.43	0.72	1.58	1.01	0.59	0.13	0.30	0.94
Total Other Income / (Expense), net	-75	-54	-328	-157	-106	-358	-64	-176	-83	-19	-32
Interest Expense	66	63	61	62	61	59	55	53	53	48	44
Interest & Investment Income	-0.46	-0.43	-0.42	-0.15	0.21	0.23	0.00	0.16	0.29	-0.63	0.50
Other Income / (Expense), net	-7.92	9.24	-266	-94	-45	-300	-9.08	-123	-30	30	12
Net Income / (Loss) Attributable to Noncontrolling Interest	-0.76	-1.14	-4.38	-2.16	-1.51	-1.37	-0.52	-2.29	-0.81	0.20	0.08
Basic Earnings per Share	($0.18)	($0.11)	($0.82)	($0.39)	($0.26)	($0.34)	($0.13)	($0.45)	($0.17)	$0.04	$0.00
Weighted Average Basic Shares Outstanding	378.93M	378.93M	379.45M	372.48M	358.96M	365.55M	349.54M	349.63M	349.96M	349.80M	347.44M
Diluted Earnings per Share	($0.18)	($0.11)	($0.82)	($0.39)	($0.26)	($0.34)	($0.13)	($0.45)	($0.17)	$0.04	$0.00
Weighted Average Diluted Shares Outstanding	378.93M	378.93M	379.45M	372.48M	358.96M	365.55M	349.54M	349.63M	349.96M	349.80M	347.44M
Weighted Average Basic & Diluted Shares Outstanding	380.87M	381.18M	378.54M	363.03M	354.39M	350.82M	351.42M	351.61M	351.63M	348.85M	346.52M
Cash Dividends to Common per Share	$0.31	$0.31	$0.31	$0.31	$0.31	$0.31	$0.31	$0.31	$0.24	$0.24	$0.24

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-2.25	-3.92	94	15	-96	15	-2.13	48	-35	43	-43
Net Cash From Operating Activities	191	204	308	337	340	470	233	273	500	502	457
Net Cash From Continuing Operating Activities	191	204	308	337	340	470	233	273	500	502	457
Net Income / (Loss) Continuing Operations	34	47	66	218	31	72	67	41	-282	-664	-249
Consolidated Net Income / (Loss)	34	47	66	218	31	72	67	41	-282	-664	-249
Depreciation Expense	152	175	239	271	281	190	203	453	731	675	564
Amortization Expense	-	-	-	-	-	2.14	-0.51	4.57	13	21	23
Non-Cash Adjustments To Reconcile Net Income	9.63	2.87	-6.73	-147	33	206	-28	-193	110	495	177
Changes in Operating Assets and Liabilities, net	-3.70	-22	9.66	-5.02	-4.41	-0.85	-8.53	-33	-71	-26	-58
Net Cash From Investing Activities	-274	-608	-2,455	176	-667	-555	-562	1,634	349	901	711
Net Cash From Continuing Investing Activities	-274	-608	-2,455	176	-667	-555	-562	1,634	349	901	709
Purchase of Property, Plant & Equipment	-309	-635	-2,448	-95	-645	-491	-467	-566	-280	-249	-330
Acquisitions	0.00	0.00	-69	-	-	-66	-90	-100	-3.82	0.00	-2.19
Purchase of Investments	-	-	-	-	0.00	0.00	-186	-1.00	-1.80	-0.51	-0.50
Sale of Property, Plant & Equipment	35	27	81	-	0.00	4.90	184	1,203	701	1,226	1,063
Other Investing Activities, net	-0.20	0.00	-28	271	-23	-3.09	-4.03	1,099	-66	-76	-21
Net Cash From Financing Activities	81	401	2,241	-499	231	100	328	-1,859	-884	-1,359	-1,211
Net Cash From Continuing Financing Activities	81	401	2,241	-499	231	100	328	-1,859	-884	-1,359	-1,211
Repayment of Debt	-367	-973	-762	-389	-1,334	-617	-25	-1,136	-1,099	-1,665	-2,259
Repurchase of Common Equity	-1.67	-7.21	-3.41	-70	-12	-1.44	-3.80	-3.19	-2.30	-520	-4.84
Payment of Dividends	-149	-163	-212	-258	-265	-163	-175	-285	-477	-463	-392
Issuance of Debt	554	1,122	1,470	145	1,517	747	210	667	694	1,289	1,449
Issuance of Common Equity	44	422	1,747	73	325	142	331	23	0.13	0.10	0.00
Other Financing Activities, net	-0.24	0.92	2.42	-	0.00	-7.68	-9.18	-1,124	-0.02	-0.02	-4.38
Cash Interest Paid	-	-	-	-	-	54	50	114	219	207	189

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

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	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	3/31/2026
Net Change in Cash & Equivalents	-11	1.03	0.47	16	-16	43	-43	-0.06	18	-17	0.06
Net Cash From Operating Activities	118	127	76	168	119	138	48	163	114	132	53
Net Cash From Continuing Operating Activities	118	127	76	168	119	138	48	163	114	132	53
Net Income / (Loss) Continuing Operations	-69	-42	-315	-146	-95	-108	-45	-160	-59	15	0.02
Consolidated Net Income / (Loss)	-69	-42	-315	-146	-95	-108	-45	-160	-59	15	0.02
Depreciation Expense	183	180	178	173	163	160	151	148	138	127	129
Amortization Expense	1.95	3.49	4.20	6.99	5.89	3.97	4.80	5.22	5.69	7.75	3.91
Non-Cash Adjustments To Reconcile Net Income	12	7.00	272	98	54	71	16	138	43	-20	-1.96
Changes in Operating Assets and Liabilities, net	-9.92	-22	-62	35	-9.23	11	-78	32	-14	2.28	-78
Net Cash From Investing Activities	119	237	-59	210	331	419	-39	-3.10	226	526	-45
Net Cash From Continuing Investing Activities	118	237	-59	210	331	419	-39	-3.10	226	524	-45
Purchase of Property, Plant & Equipment	-72	-75	-50	-67	-69	-62	-69	-86	-89	-87	-63
Acquisitions	-	-	0.00	-	-	-	-0.85	-0.13	-0.57	-0.64	-19
Sale of Property, Plant & Equipment	206	335	0.50	304	420	502	35	88	324	616	31
Other Investing Activities, net	-17	-21	-9.42	-26	-20	-21	-3.42	-5.56	-7.66	-4.49	5.94
Net Cash From Financing Activities	-248	-363	-17	-363	-466	-514	-52	-160	-322	-676	-7.51
Net Cash From Continuing Financing Activities	-248	-363	-17	-363	-466	-514	-52	-160	-322	-676	-7.51
Repayment of Debt	20	-392	-17	149	-407	-100	-100	-250	-769	-1,204	-322
Repurchase of Common Equity	0.01	-0.46	-0.32	-273	-151	-96	-0.55	-0.50	-3.26	-0.54	-103
Payment of Dividends	-119	-119	-119	-119	-114	-112	-110	-110	-86	-85	-85
Issuance of Debt	-	149	120	-	-	-206	159	201	536	618	503
Other Financing Activities, net	0.03	-0.01	-0.11	0.08	0.02	-0.00	-0.14	0.09	-0.10	-4.24	-0.02
Cash Interest Paid	79	32	74	31	75	26	68	27	74	20	64

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

Metric	2014	2015	2016	2017	2018	2020	2021	2022	2023	2024	2025
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	3,031	3,172	3,748	6,450	6,188	6,791	4,259	13,850	12,637	10,651	9,211
Total Current Assets	10	13	11	100	126	119	13	61	26	69	26
Cash & Equivalents	10	13	11	100	126	115	13	61	26	69	26
Plant, Property, & Equipment, net	2,404	2,529	3,035	5,294	5,061	5,482	3,403	11,222	10,153	8,409	7,184
Plant, Property & Equipment, gross	2,954	3,205	3,853	6,316	6,269	7,184	4,741	12,868	12,380	10,892	9,581
Accumulated Depreciation	550	676	818	1,022	1,208	1,703	1,339	1,645	2,227	2,484	2,398
Total Noncurrent Assets	617	631	701	1,055	1,001	1,190	812	2,446	2,335	2,096	1,926
Long-Term Investments	-	-	0.00	69	67	64	162	327	312	473	454
Noncurrent Note & Lease Receivables	-	-	-	-	-	-	187	-	-	124	123
Intangible Assets	463	473	514	746	699	639	120	960	836	665	455
Other Noncurrent Operating Assets	155	158	187	240	236	487	339	936	937	834	894
Total Liabilities & Shareholders' Equity	3,031	3,172	3,748	6,450	6,188	6,791	4,259	13,850	12,637	10,651	9,211
Total Liabilities	1,551	1,761	1,963	3,079	2,847	3,556	2,074	6,168	5,714	5,345	4,534
Total Current Liabilities	101	95	105	168	185	200	86	244	212	223	226
Accounts Payable	101	95	105	168	185	200	86	244	212	223	211
Other Current Nonoperating Liabilities	-	-	-	-	-	-	-	-	-	-	15
Total Noncurrent Liabilities	1,450	1,666	1,858	2,912	2,662	3,355	1,956	5,924	5,502	5,045	4,233
Long-Term Debt	1,402	1,591	1,769	2,781	2,541	3,027	1,801	5,352	4,995	4,663	3,911
Capital Lease Obligations	-	-	-	-	-	198	-9.03	-	230	-5.00	-1.95
Other Noncurrent Operating Liabilities	48	75	39	69	61	130	164	572	277	386	323
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	3.73	4.44	4.65	6.74	6.54	0.00	0.00	2.01	3.87	4.78	3.25
Total Equity & Noncontrolling Interests	1,476	1,407	1,780	3,363	3,335	3,235	2,185	7,680	6,919	5,301	4,673
Total Preferred & Common Equity	1,447	1,379	1,687	3,279	3,256	3,174	2,185	7,571	6,823	5,235	4,617
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	1,447	1,379	1,687	3,279	3,256	3,174	2,185	7,571	6,823	5,235	4,617
Common Stock	2,283	2,330	2,756	4,511	4,528	4,919	3,974	9,591	9,606	9,122	9,141
Retained Earnings	-	-	-	-	-	-	-3,045	-	-	-4,260	-4,647
Accumulated Other Comprehensive Income / (Loss)	-	-	0.00	0.27	0.31	-17	-9.98	2.14	-11	-1.17	-5.17
Other Equity Adjustments	-836	-951	-1,069	-1,232	-1,272	-1,728	1,266	-2,023	-2,773	374	128
Noncontrolling Interest	29	28	93	85	79	61	0.00	109	96	66	56

This table presents Healthcare Realty Trust'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 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	14,195	13,569	13,394	13,104	12,281	11,804	11,245	10,496	10,236	9,860	9,148
Total Current Assets	177	171	36	25	26	42	23	26	26	43	26
Cash & Equivalents	58	50	36	25	26	42	23	26	26	43	26
Plant, Property, & Equipment, net	11,512	10,894	10,725	10,393	9,966	9,406	8,926	8,326	7,858	7,249	7,141
Plant, Property & Equipment, gross	12,981	12,704	12,709	12,487	12,340	11,834	11,405	10,910	10,352	9,631	9,609
Accumulated Depreciation	1,469	1,810	1,984	2,094	2,374	2,428	2,479	2,584	2,494	2,381	2,468
Total Noncurrent Assets	2,507	2,504	2,512	2,565	2,167	2,274	2,218	2,068	2,276	2,491	1,907
Long-Term Investments	328	328	327	325	310	375	417	470	463	459	467
Noncurrent Note & Lease Receivables	-	-	-	-	-	122	123	124	124	123	122
Intangible Assets	969	929	922	890	816	765	718	632	567	504	425
Other Noncurrent Operating Assets	1,061	986	1,012	1,098	1,040	1,012	959	842	1,121	1,405	892
Total Liabilities & Shareholders' Equity	14,195	13,569	13,394	13,104	12,281	11,804	11,245	10,496	10,236	9,860	9,148
Total Liabilities	6,356	6,102	6,108	5,995	5,774	5,829	5,645	5,349	5,354	5,115	4,651
Total Current Liabilities	231	155	196	205	163	198	205	145	224	244	151
Accounts Payable	231	155	196	205	163	196	197	145	194	174	138
Other Current Nonoperating Liabilities	-	-	-	-	-	1.81	7.92	0.42	30	70	14
Total Noncurrent Liabilities	6,125	5,947	5,912	5,790	5,611	5,550	5,362	5,127	5,053	4,796	4,425
Long-Term Debt	5,570	5,362	5,340	5,227	5,108	5,148	4,958	4,733	4,694	4,486	4,104
Capital Lease Obligations	-	-	-	-	-	-6.20	-5.84	-4.37	-3.56	-2.81	-1.02
Other Noncurrent Operating Liabilities	545	585	572	559	502	408	410	399	362	313	322
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	-	2.00	2.49	3.20	3.88	3.88	3.88	4.63	4.33	4.33	3.34
Total Equity & Noncontrolling Interests	7,839	7,465	7,283	7,106	6,503	5,971	5,595	5,142	4,877	4,741	4,494
Total Preferred & Common Equity	7,727	7,359	7,179	7,004	6,416	5,887	5,515	5,078	4,817	4,683	4,439
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	7,727	7,359	7,179	7,004	6,416	5,887	5,515	5,078	4,817	4,683	4,439
Common Stock	9,590	9,595	9,599	9,601	9,613	9,344	9,202	9,125	9,133	9,138	9,044
Retained Earnings	-	-	-	-	-	-4,038	-4,150	-4,369	-4,478	-4,562	-4,731
Accumulated Other Comprehensive Income / (Loss)	5.52	-8.55	9.33	17	4.79	6.99	-17	-7.21	-9.19	-6.46	-2.42
Other Equity Adjustments	-1,869	-2,228	-2,429	-2,615	-3,202	574	481	329	172	114	128
Noncontrolling Interest	112	106	104	102	87	84	80	64	60	58	55

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	8.70%	14.14%	33.21%	13.43%	-0.63%	-27.80%	7.04%	74.38%	44.08%	-5.62%	-6.92%
EBITDA Growth	11.76%	18.44%	39.17%	47.04%	-27.31%	-19.90%	-5.87%	100.79%	11.31%	-61.87%	99.04%
EBIT Growth	13.88%	23.12%	43.52%	96.62%	-53.65%	2.16%	-19.79%	57.97%	-111.49%	-1,824.71%	90.54%
NOPAT Growth	12.65%	18.49%	45.60%	-6.41%	-3.16%	-45.72%	2.94%	-129.15%	259.07%	-38.17%	177.52%
Net Income Growth	-27.04%	41.09%	38.51%	231.86%	-85.87%	134.72%	-7.67%	-38.95%	-793.20%	-135.36%	62.42%
EPS Growth	-29.73%	26.92%	3.03%	200.00%	-86.27%	271.43%	-13.46%	-66.67%	-593.33%	-144.59%	60.77%
Operating Cash Flow Growth	13.41%	6.59%	50.98%	9.71%	0.89%	38.10%	-50.51%	17.25%	83.25%	0.36%	-8.88%
Free Cash Flow Firm Growth	88.69%	-1,783.77%	-414.43%	119.49%	1,058.21%	-207.04%	146.43%	-442.17%	110.01%	161.32%	-40.29%
Invested Capital Growth	4.08%	18.53%	68.86%	-4.90%	-87.83%	806.76%	-39.42%	229.40%	-6.69%	-19.38%	-13.81%
Revenue Q/Q Growth	1.78%	4.53%	9.20%	-0.21%	0.58%	-31.39%	31.33%	39.23%	-0.56%	-1.60%	-1.95%
EBITDA Q/Q Growth	8.25%	7.50%	15.69%	-5.12%	0.93%	-22.92%	29.12%	26.66%	-1.45%	-24.88%	18.22%
EBIT Q/Q Growth	20.64%	12.41%	23.66%	-8.54%	-3.76%	-3.28%	0.08%	0.17%	-37.91%	-20.58%	74.01%
NOPAT Q/Q Growth	1.32%	9.38%	27.97%	-56.57%	1,134.31%	-48.79%	87.04%	39.47%	4.26%	116.44%	60.00%
Net Income Q/Q Growth	-24.49%	16.14%	67.04%	-11.35%	-17.60%	112.93%	-26.54%	-59.39%	-1.95%	-11.14%	32.99%
EPS Q/Q Growth	-23.53%	13.79%	78.95%	-11.30%	-22.22%	246.67%	-30.77%	-75.41%	15.91%	-14.56%	34.86%
Operating Cash Flow Q/Q Growth	7.59%	1.50%	8.30%	5.52%	1.60%	26.48%	-37.24%	44.29%	-3.62%	2.18%	-1.23%
Free Cash Flow Firm Q/Q Growth	74.76%	-5.30%	5.50%	-30.09%	8,888.74%	-7,816.55%	1,432.12%	-28.39%	-27.14%	42.39%	0.15%
Invested Capital Q/Q Growth	0.13%	1.02%	-1.02%	-1.17%	-88.07%	4.17%	-39.27%	-3.90%	-1.53%	-6.88%	-7.66%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	69.44%	68.81%	100.00%	100.00%	69.44%	60.67%	60.31%	63.11%	62.76%	62.67%	61.96%
EBITDA Margin	60.18%	62.44%	65.23%	84.57%	61.86%	68.63%	60.35%	69.49%	53.69%	21.69%	46.38%
Operating Margin	23.17%	24.06%	26.30%	21.70%	21.14%	15.89%	15.29%	-2.55%	4.03%	2.64%	7.87%
EBIT Margin	22.63%	24.41%	26.30%	45.59%	21.26%	30.09%	22.55%	20.42%	-1.63%	-33.20%	-3.38%
Profit (Net Income) Margin	8.31%	10.27%	10.68%	31.25%	4.44%	14.45%	12.46%	4.36%	-20.99%	-52.35%	-21.13%
Tax Burden Percent	100.46%	100.00%	101.21%	100.80%	106.52%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Interest Burden Percent	36.55%	42.08%	40.13%	68.00%	19.62%	48.02%	55.28%	21.36%	1,289.29%	157.66%	625.95%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	3.19%	3.40%	3.39%	2.59%	4.59%	2.28%	1.62%	-0.29%	0.31%	0.22%	0.74%
ROIC Less NNEP Spread (ROIC-NNEP)	-0.85%	-0.41%	-1.00%	5.27%	63.76%	-2.47%	0.97%	1.71%	-6.35%	-15.26%	-7.58%
Return on Net Nonoperating Assets (RNNOA)	-0.87%	-0.43%	-0.85%	3.90%	-3.68%	-0.11%	0.84%	1.12%	-4.18%	-11.08%	-5.74%
Return on Equity (ROE)	2.32%	2.96%	2.54%	6.49%	0.91%	2.17%	2.46%	0.82%	-3.86%	-10.86%	-5.00%
Cash Return on Invested Capital (CROIC)	-0.80%	-13.56%	-47.83%	7.61%	161.19%	-157.99%	50.72%	-107.14%	7.23%	21.68%	15.58%
Operating Return on Assets (OROA)	2.95%	3.25%	3.17%	5.02%	2.29%	2.24%	2.18%	2.10%	-0.17%	-3.62%	-0.40%
Return on Assets (ROA)	1.08%	1.37%	1.29%	3.44%	0.48%	1.08%	1.21%	0.45%	-2.13%	-5.70%	-2.51%
Return on Common Equity (ROCE)	2.27%	2.84%	2.45%	6.31%	0.44%	1.03%	2.43%	0.82%	-3.81%	-10.71%	-4.93%
Return on Equity Simple (ROE_SIMPLE)	2.43%	2.81%	2.00%	6.68%	0.00%	2.27%	3.05%	0.54%	-4.13%	-12.68%	0.00%
Net Operating Profit after Tax (NOPAT)	94	111	161	151	146	79	82	-24	38	23	65
NOPAT Margin	23.17%	24.06%	26.30%	21.70%	21.14%	15.89%	15.29%	-2.55%	2.82%	1.85%	5.51%
Net Nonoperating Expense Percent (NNEP)	4.04%	3.81%	4.39%	-2.68%	-59.18%	4.75%	0.65%	-2.00%	6.66%	15.48%	8.32%
Return On Investment Capital (ROIC_SIMPLE)	3.12%	3.12%	2.63%	2.57%	2.37%	1.23%	2.06%	-0.18%	0.31%	0.24%	0.76%
Cost of Revenue to Revenue	30.56%	31.19%	0.00%	0.00%	30.56%	39.33%	39.69%	36.89%	37.24%	37.33%	38.04%
SG&A Expenses to Revenue	6.33%	6.24%	5.44%	5.05%	5.98%	6.15%	6.39%	5.65%	4.35%	6.55%	6.15%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	46.27%	44.76%	73.70%	78.30%	48.30%	44.77%	45.02%	65.67%	58.73%	60.03%	54.09%
Earnings before Interest and Taxes (EBIT)	91	113	161	317	147	150	121	190	-22	-421	-40
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	243	288	401	589	428	343	323	648	721	275	548
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.30	1.31	0.96	0.96	1.17	0.74	1.46	0.55	0.87	1.16	1.28
Price to Tangible Book Value (P/TBV)	1.98	1.88	1.24	1.23	1.44	0.93	1.55	0.65	1.03	1.33	1.42
Price to Revenue (P/Rev)	4.45	4.80	5.11	4.51	5.66	4.73	5.98	4.44	4.41	4.80	5.02
Price to Earnings (P/E)	54.62	48.17	49.07	14.71	129.89	32.75	47.95	101.23	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	32.13%	7.93%	7.45%	6.49%
Earnings Yield	1.83%	2.08%	2.04%	6.80%	0.77%	3.05%	2.09%	0.99%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.14	1.15	0.98	0.98	9.59	0.87	1.27	0.74	0.93	1.09	1.16
Enterprise Value to Revenue (EV/Rev)	8.44	8.82	9.51	8.00	9.60	10.94	9.00	9.88	8.12	8.10	7.98
Enterprise Value to EBITDA (EV/EBITDA)	14.03	14.13	14.58	9.46	15.51	15.94	14.91	14.22	15.13	37.34	17.20
Enterprise Value to EBIT (EV/EBIT)	37.29	36.15	36.17	17.56	45.13	36.37	39.92	48.38	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	36.42	36.68	36.17	36.89	45.38	68.84	58.88	0.00	287.99	438.29	144.82
Enterprise Value to Operating Cash Flow (EV/OCF)	17.84	19.97	18.99	16.52	19.51	11.63	20.69	33.78	21.84	20.48	20.61
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	12.55	1.29	0.00	1.88	0.00	12.46	4.49	6.89
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.13	0.99	0.83	0.76	0.80	1.00	0.82	0.70	0.75	0.88	0.84
Long-Term Debt to Equity	1.13	0.99	0.83	0.76	0.80	1.00	0.82	0.70	0.75	0.88	0.84
Financial Leverage	1.03	1.04	0.85	0.74	-0.06	0.05	0.86	0.65	0.66	0.73	0.76
Leverage Ratio	2.15	2.16	1.98	1.88	1.89	2.01	2.04	1.84	1.81	1.90	1.99
Compound Leverage Factor	0.78	0.91	0.79	1.28	0.37	0.97	1.13	0.39	23.38	3.00	12.45
Debt to Total Capital	52.99%	49.77%	45.21%	43.20%	44.49%	49.93%	45.06%	41.06%	43.01%	46.75%	45.53%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	52.99%	49.77%	45.21%	43.20%	44.49%	49.93%	45.06%	41.06%	43.01%	46.75%	45.53%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	1.07%	2.75%	1.49%	1.45%	1.18%	0.94%	0.00%	0.85%	0.82%	0.71%	0.70%
Common Equity to Total Capital	45.95%	47.48%	53.30%	55.35%	0.00%	49.13%	54.94%	58.09%	56.17%	52.54%	53.77%
Debt to EBITDA	6.55	6.15	6.94	4.31	6.42	9.41	5.55	8.26	7.24	16.93	7.14
Net Debt to EBITDA	6.49	6.11	6.52	3.99	6.19	8.87	5.01	7.66	6.77	14.96	6.26
Long-Term Debt to EBITDA	6.55	6.15	6.94	4.31	6.42	9.41	5.55	8.26	7.24	16.93	7.14
Debt to NOPAT	17.00	15.95	17.23	16.82	18.79	40.61	21.92	-224.62	137.85	198.76	60.11
Net Debt to NOPAT	16.86	15.85	16.18	15.54	18.12	38.31	19.78	-208.33	128.95	175.63	52.74
Long-Term Debt to NOPAT	17.00	15.95	17.23	16.82	18.79	40.61	21.92	-224.62	137.85	198.76	60.11
Altman Z-Score	0.80	0.87	0.78	0.93	0.91	0.53	0.12	0.50	0.71	0.09	0.17
Noncontrolling Interest Sharing Ratio	2.25%	4.06%	3.67%	2.63%	51.92%	52.38%	1.12%	1.12%	1.44%	1.40%	1.31%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.14	0.11	0.60	0.68	0.00	0.59	0.15	0.25	0.12	0.31	0.12
Quick Ratio	0.14	0.11	0.60	0.68	0.00	0.58	0.15	0.25	0.12	0.31	0.12
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-24	-443	-2,278	444	5,143	-5,505	2,556	-8,747	876	2,288	1,366
Operating Cash Flow to CapEx	69.75%	33.48%	12.99%	354.19%	52.79%	96.64%	82.37%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	-0.41	-6.80	-23.56	4.37	43.49	-70.88	48.12	-58.67	3.39	9.43	6.52
Operating Cash Flow to Interest Expense	3.30	3.13	3.18	3.32	2.88	6.05	4.38	1.83	1.93	2.07	2.18
Operating Cash Flow Less CapEx to Interest Expense	-1.43	-6.21	-21.31	2.38	-2.57	-0.21	-0.94	6.10	3.56	6.09	5.68
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.13	0.13	0.12	0.11	0.11	0.07	0.10	0.10	0.10	0.11	0.12
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.16	0.17	0.15	0.13	0.00	0.00	0.12	0.13	0.13	0.14	0.15
Accounts Payable Turnover	1.26	1.44	0.00	0.00	1.19	1.06	1.48	2.08	2.19	2.18	2.07
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	289.86	253.87	0.00	0.00	307.88	345.52	246.29	175.13	166.30	167.49	176.20
Cash Conversion Cycle (CCC)	-289.86	-253.87	0.00	0.00	-307.88	-345.52	-246.29	-175.13	-166.30	-167.49	-176.20
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,989	3,543	5,982	5,689	692	6,277	3,803	12,526	11,688	9,423	8,121
Invested Capital Turnover	0.14	0.14	0.13	0.12	0.22	0.14	0.11	0.11	0.11	0.12	0.13
Increase / (Decrease) in Invested Capital	117	554	2,440	-293	-4,997	5,585	-2,475	8,723	-838	-2,265	-1,301
Enterprise Value (EV)	3,408	4,067	5,840	5,574	6,640	5,467	4,813	9,215	10,915	10,271	9,418
Market Capitalization	1,799	2,211	3,137	3,141	3,917	2,364	3,196	4,140	5,927	6,084	5,929
Book Value per Share	$10.86	$11.91	$16.00	$15.73	$0.00	$14.52	$9.89	$19.89	$17.91	$14.77	$13.13
Tangible Book Value per Share	$7.14	$8.28	$12.36	$12.36	$0.00	$11.60	$9.33	$16.78	$15.06	$12.90	$11.84
Total Capital	3,002	3,554	6,151	5,883	6,180	6,460	3,977	13,034	12,147	9,964	8,586
Total Debt	1,591	1,769	2,781	2,541	2,750	3,225	1,792	5,352	5,225	4,658	3,909
Total Long-Term Debt	1,591	1,769	2,781	2,541	2,750	3,225	1,792	5,352	5,225	4,658	3,909
Net Debt	1,578	1,758	2,612	2,348	2,651	3,042	1,617	4,964	4,887	4,116	3,430
Capital Expenditures (CapEx)	274	608	2,368	95	645	486	282	-637	-421	-977	-733
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-95	-105	-168	-185	-33	-200	-86	-244	-212	-223	-211
Debt-free Net Working Capital (DFNWC)	-82	-94	-67	-59	0.00	-82	-73	-183	-186	-154	-185
Net Working Capital (NWC)	-82	-94	-67	-59	0.00	-82	-73	-183	-186	-154	-185
Net Nonoperating Expense (NNE)	60	64	96	-67	116	7.22	15	-65	320	687	315
Net Nonoperating Obligations (NNO)	1,578	1,758	2,612	2,348	-2,738	3,042	1,617	4,844	4,765	4,117	3,445
Total Depreciation and Amortization (D&A)	152	175	239	271	281	193	202	458	743	696	587
Debt-free, Cash-free Net Working Capital to Revenue	-23.51%	-22.79%	-27.34%	-26.57%	-4.73%	-40.10%	-16.10%	-26.17%	-15.78%	-17.54%	-17.88%
Debt-free Net Working Capital to Revenue	-20.27%	-20.35%	-10.99%	-8.45%	0.00%	-16.33%	-13.64%	-19.63%	-13.86%	-12.11%	-15.66%
Net Working Capital to Revenue	-20.27%	-20.35%	-10.99%	-8.45%	0.00%	-16.33%	-13.64%	-19.63%	-13.86%	-12.11%	-15.66%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.52	$0.34	$0.35	$1.04	$0.15	$0.24	$0.45	$0.15	($0.74)	($1.81)	($0.71)
Adjusted Weighted Average Basic Shares Outstanding	254.15M	136.62M	181.06M	206.07M	205.72M	218.08M	219.44M	252.36M	378.93M	365.55M	349.80M
Adjusted Diluted Earnings per Share	$0.52	$0.33	$0.34	$1.02	$0.14	$0.24	$0.44	$0.15	($0.74)	($1.81)	($0.71)
Adjusted Weighted Average Diluted Shares Outstanding	256.08M	140.26M	185.28M	210.06M	209.61M	221.67M	224.22M	253.87M	378.93M	365.55M	349.80M
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	141.72M	205.05M	205.06M	216.69M	218.75M	229.03M	380.78M	381.18M	350.82M	348.85M
Normalized Net Operating Profit after Tax (NOPAT)	67	74	96	112	103	57	60	-14	39	26	66
Normalized NOPAT Margin	16.67%	15.95%	15.68%	16.08%	14.82%	11.49%	11.21%	-1.55%	2.93%	2.02%	5.63%
Pre Tax Income Margin	8.27%	10.27%	10.55%	31.00%	4.17%	14.45%	12.46%	4.36%	-20.99%	-52.35%	-21.13%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	1.58	1.73	1.67	3.12	1.24	1.94	2.27	1.28	-0.08	-1.74	-0.19
NOPAT to Interest Expense	1.61	1.70	1.67	1.49	1.24	1.02	1.54	-0.16	0.15	0.10	0.31
EBIT Less CapEx to Interest Expense	-3.15	-7.61	-22.82	2.19	-4.21	-4.33	-3.05	5.55	1.54	2.29	3.31
NOPAT Less CapEx to Interest Expense	-3.11	-7.63	-22.82	0.55	-4.21	-5.24	-3.78	4.11	1.78	4.12	3.81
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	442.61%	344.55%	323.89%	118.52%	861.16%	225.16%	263.21%	701.37%	-169.23%	-69.79%	-157.06%
Augmented Payout Ratio	447.58%	359.78%	329.09%	150.83%	900.75%	227.15%	268.92%	709.21%	-170.04%	-148.12%	-159.00%

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

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	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	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	348,849,902.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	348,849,902.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	0.00
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	11.72%	-2.25%	-1.84%	-6.45%	-7.84%	-6.26%	-8.52%	-5.95%	-5.60%	-7.57%	-6.69%
EBITDA Growth	-24.51%	-4.91%	-143.61%	-42.56%	-26.23%	-44.34%	331.26%	-52.64%	1.93%	73.77%	6.74%
EBIT Growth	-102.30%	-21.51%	-977.97%	-353.52%	-1,688.77%	-327.58%	103.71%	-28.34%	82.69%	227.33%	361.01%
NOPAT Growth	106.92%	21.10%	-3,862.11%	-63.24%	84.84%	1,865.73%	48.91%	47.33%	120.93%	6,471.91%	144.48%
Net Income Growth	-339.74%	-14.87%	-257.89%	-74.30%	-37.80%	-159.65%	85.60%	-9.73%	38.07%	113.48%	100.05%
EPS Growth	-325.00%	56.00%	-256.52%	-77.27%	-44.44%	-209.09%	84.15%	-15.38%	34.62%	111.76%	100.00%
Operating Cash Flow Growth	842.59%	-12.85%	10.06%	-9.17%	0.95%	8.40%	-37.25%	-2.94%	-4.65%	-4.11%	10.65%
Free Cash Flow Firm Growth	117.12%	109.71%	118.48%	117.82%	50.23%	188.15%	37.63%	10.48%	-23.70%	-41.02%	-27.93%
Invested Capital Growth	-8.94%	-6.69%	-10.39%	-11.86%	-14.74%	-19.38%	-15.94%	-14.84%	-13.08%	-13.81%	-13.43%
Revenue Q/Q Growth	1.22%	-3.45%	-1.10%	-3.21%	-0.28%	-1.79%	-3.48%	-0.49%	0.09%	-3.85%	-2.55%
EBITDA Q/Q Growth	8.23%	12.26%	-134.76%	235.99%	39.00%	-15.30%	44.44%	-72.15%	199.14%	44.41%	-11.28%
EBIT Q/Q Growth	89.63%	1,251.15%	-1,256.48%	67.16%	59.09%	-46.46%	118.87%	-1,235.17%	94.48%	1,177.08%	-31.68%
NOPAT Q/Q Growth	-79.32%	111.17%	-1,973.95%	104.49%	4.01%	2,145.69%	2,521.99%	-14.86%	55.97%	98.12%	-7.07%
Net Income Q/Q Growth	18.06%	39.25%	-656.38%	53.70%	35.22%	-14.47%	58.06%	-252.83%	63.44%	124.92%	-99.86%
EPS Q/Q Growth	18.18%	38.89%	-645.45%	52.44%	33.33%	-30.77%	61.76%	-246.15%	62.22%	123.53%	-100.00%
Operating Cash Flow Q/Q Growth	-36.16%	7.73%	-40.19%	120.81%	-29.05%	15.68%	-65.37%	241.54%	-30.30%	16.34%	-60.04%
Free Cash Flow Firm Q/Q Growth	114.40%	-27.62%	33.03%	28.52%	21.40%	38.83%	-20.88%	-10.74%	-16.15%	-0.41%	-3.31%
Invested Capital Q/Q Growth	-2.25%	-1.53%	-4.53%	-4.09%	-5.44%	-6.88%	-0.46%	-2.83%	-3.49%	-7.66%	-0.02%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	61.54%	63.27%	62.95%	62.79%	61.88%	63.06%	61.55%	63.05%	61.90%	61.32%	64.14%
EBITDA Margin	53.48%	62.18%	-21.86%	30.71%	42.81%	36.92%	55.25%	15.46%	46.22%	69.42%	63.20%
Operating Margin	1.76%	3.85%	-72.86%	3.38%	3.53%	80.63%	6.19%	5.30%	8.25%	11.90%	11.35%
EBIT Margin	-0.56%	6.64%	-77.64%	-26.35%	-10.81%	-16.12%	3.15%	-35.95%	-1.98%	22.21%	15.57%
Profit (Net Income) Margin	-20.04%	-12.61%	-96.46%	-46.14%	-29.97%	-34.93%	-15.18%	-53.83%	-19.66%	5.10%	0.01%
Tax Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Interest Burden Percent	3,599.37%	-189.94%	124.23%	175.12%	277.28%	216.71%	-481.73%	149.73%	991.77%	22.95%	0.05%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.13%	0.30%	-5.78%	0.27%	0.29%	6.78%	0.52%	0.46%	0.74%	1.60%	1.51%
ROIC Less NNEP Spread (ROIC-NNEP)	-1.33%	-0.75%	-8.86%	-2.93%	-1.92%	0.41%	-0.79%	-3.36%	-1.03%	1.09%	0.70%
Return on Net Nonoperating Assets (RNNOA)	-0.89%	-0.50%	-6.11%	-2.12%	-1.40%	0.30%	-0.60%	-2.78%	-0.86%	0.82%	0.57%
Return on Equity (ROE)	-0.75%	-0.20%	-11.89%	-1.84%	-1.11%	7.08%	-0.08%	-2.32%	-0.12%	2.42%	2.08%
Cash Return on Invested Capital (CROIC)	9.65%	7.23%	9.83%	11.33%	14.62%	21.68%	17.59%	16.35%	14.43%	15.58%	15.24%
Operating Return on Assets (OROA)	-0.06%	0.67%	-8.04%	-2.75%	-1.14%	-1.76%	0.34%	-3.99%	-0.23%	2.64%	1.84%
Return on Assets (ROA)	-1.98%	-1.28%	-9.98%	-4.82%	-3.17%	-3.81%	-1.65%	-5.97%	-2.24%	0.61%	0.00%
Return on Common Equity (ROCE)	-0.74%	-0.19%	-11.72%	-1.82%	-1.09%	6.98%	-0.08%	-2.29%	-0.12%	2.39%	2.05%
Return on Equity Simple (ROE_SIMPLE)	-3.95%	0.00%	-7.94%	-9.71%	-10.83%	0.00%	-7.76%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	4.21	8.89	-167	7.49	7.79	175	13	11	17	34	32
NOPAT Margin	1.23%	2.69%	-51.00%	2.37%	2.47%	56.44%	4.33%	3.71%	5.78%	11.90%	11.35%
Net Nonoperating Expense Percent (NNEP)	1.46%	1.05%	3.08%	3.20%	2.21%	6.37%	1.31%	3.82%	1.77%	0.52%	0.81%
Return On Investment Capital (ROIC_SIMPLE)	0.03%	0.07%	-1.44%	0.07%	0.07%	1.76%	0.13%	0.12%	0.19%	0.40%	0.37%
Cost of Revenue to Revenue	38.46%	36.73%	37.05%	37.21%	38.12%	36.94%	38.45%	36.95%	38.10%	38.68%	35.86%
SG&A Expenses to Revenue	3.91%	4.42%	4.52%	4.43%	6.38%	11.04%	4.53%	7.89%	7.31%	4.82%	6.22%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	59.78%	59.43%	135.81%	59.40%	58.36%	-17.57%	55.36%	57.76%	53.65%	49.42%	52.79%
Earnings before Interest and Taxes (EBIT)	-1.91	22	-254	-83	-34	-50	9.42	-107	-5.90	64	43
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	183	205	-71	97	135	114	165	46	138	199	176
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.73	0.87	0.78	0.99	1.14	1.16	1.16	1.12	1.33	1.28	1.33
Price to Tangible Book Value (P/TBV)	0.88	1.03	0.89	1.14	1.31	1.33	1.33	1.27	1.49	1.42	1.47
Price to Revenue (P/Rev)	3.80	4.41	3.73	4.42	4.88	4.80	4.76	4.41	5.17	5.02	5.09
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	9.14%	7.93%	11.79%	7.94%	7.08%	7.45%	7.34%	8.04%	6.58%	6.49%	6.06%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.85	0.93	0.88	0.99	1.08	1.09	1.09	1.06	1.17	1.16	1.18
Enterprise Value to Revenue (EV/Rev)	7.49	8.12	7.36	8.08	8.44	8.10	8.23	7.91	8.53	7.98	8.25
Enterprise Value to EBITDA (EV/EBITDA)	13.83	15.13	20.26	25.67	29.72	37.34	19.95	20.97	22.17	17.20	17.13
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	278.49	287.99	0.00	0.00	0.00	438.29	368.67	309.27	252.64	144.82	128.89
Enterprise Value to Operating Cash Flow (EV/OCF)	19.52	21.84	19.44	21.71	22.17	20.48	21.57	20.62	22.19	20.61	20.71
Enterprise Value to Free Cash Flow (EV/FCFF)	8.42	12.46	8.49	8.22	6.77	4.49	5.65	5.96	7.53	6.89	7.17
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.74	0.75	0.79	0.86	0.88	0.88	0.92	0.96	0.94	0.84	0.91
Long-Term Debt to Equity	0.74	0.75	0.79	0.86	0.88	0.88	0.92	0.96	0.94	0.84	0.91
Financial Leverage	0.67	0.66	0.69	0.72	0.73	0.73	0.76	0.83	0.83	0.76	0.81
Leverage Ratio	1.83	1.81	1.85	1.90	1.92	1.90	1.95	2.03	2.04	1.99	2.04
Compound Leverage Factor	65.74	-3.44	2.30	3.33	5.31	4.13	-9.42	3.04	20.23	0.46	0.00
Debt to Total Capital	42.37%	43.01%	43.98%	46.25%	46.93%	46.75%	47.88%	49.00%	48.58%	45.53%	47.71%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	42.37%	43.01%	43.98%	46.25%	46.93%	46.75%	47.88%	49.00%	48.58%	45.53%	47.71%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.85%	0.82%	0.78%	0.79%	0.80%	0.71%	0.69%	0.67%	0.67%	0.70%	0.67%
Common Equity to Total Capital	56.77%	56.17%	55.24%	52.96%	52.27%	52.54%	51.43%	50.33%	50.75%	53.77%	51.62%
Debt to EBITDA	7.14	7.24	10.51	12.41	13.52	16.93	9.24	10.18	9.68	7.14	7.34
Net Debt to EBITDA	6.66	6.77	9.82	11.41	12.32	14.96	8.27	9.12	8.59	6.26	6.46
Long-Term Debt to EBITDA	7.14	7.24	10.51	12.41	13.52	16.93	9.24	10.18	9.68	7.14	7.34
Debt to NOPAT	143.80	137.85	-38.35	-35.20	-34.75	198.76	170.77	150.20	110.29	60.11	55.26
Net Debt to NOPAT	134.17	128.95	-35.83	-32.35	-31.66	175.63	152.85	134.54	97.94	52.74	48.61
Long-Term Debt to NOPAT	143.80	137.85	-38.35	-35.20	-34.75	198.76	170.77	150.20	110.29	60.11	55.26
Altman Z-Score	0.60	0.72	0.55	0.19	0.24	0.21	0.19	0.05	0.18	0.21	0.16
Noncontrolling Interest Sharing Ratio	1.45%	1.44%	1.43%	1.46%	1.49%	1.40%	1.37%	1.40%	1.41%	1.31%	1.31%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.12	0.12	0.16	0.21	0.11	0.31	0.18	0.11	0.18	0.12	0.17
Quick Ratio	0.12	0.12	0.16	0.21	0.11	0.31	0.18	0.11	0.18	0.12	0.17
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	1,170	847	1,126	1,448	1,757	2,440	1,792	1,599	1,341	1,335	1,291
Operating Cash Flow to CapEx	0.00%	0.00%	152.66%	0.00%	0.00%	0.00%	138.26%	0.00%	0.00%	0.00%	162.15%
Free Cash Flow to Firm to Interest Expense	17.66	13.40	18.45	23.18	28.98	41.70	32.69	29.98	25.34	27.62	29.41
Operating Cash Flow to Interest Expense	1.78	2.01	1.25	2.69	1.97	2.36	0.87	3.06	2.15	2.74	1.20
Operating Cash Flow Less CapEx to Interest Expense	3.81	6.12	0.43	6.47	7.75	9.88	0.24	3.11	6.59	13.69	0.46
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.10	0.10	0.10	0.10	0.11	0.11	0.11	0.11	0.11	0.12	0.12
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.12	0.13	0.13	0.13	0.13	0.14	0.14	0.14	0.15	0.15	0.15
Accounts Payable Turnover	2.28	2.19	3.14	2.51	2.39	2.18	3.03	2.36	2.44	2.07	3.11
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	160.36	166.30	116.33	145.48	152.86	167.49	120.29	154.87	149.63	176.20	117.40
Cash Conversion Cycle (CCC)	-160.36	-166.30	-116.33	-145.48	-152.86	-167.49	-120.29	-154.87	-149.63	-176.20	-117.40
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	11,869	11,688	11,158	10,702	10,119	9,423	9,379	9,114	8,796	8,121	8,120
Invested Capital Turnover	0.11	0.11	0.11	0.12	0.12	0.12	0.12	0.12	0.13	0.13	0.13
Increase / (Decrease) in Invested Capital	-1,166	-838	-1,293	-1,440	-1,750	-2,265	-1,779	-1,588	-1,324	-1,301	-1,260
Enterprise Value (EV)	10,123	10,915	9,851	10,633	10,882	10,271	10,208	9,659	10,269	9,418	9,570
Market Capitalization	5,141	5,927	4,988	5,820	6,286	6,084	5,907	5,393	6,226	5,929	5,903
Book Value per Share	$18.39	$17.91	$16.83	$15.55	$15.19	$14.77	$14.48	$13.71	$13.32	$13.13	$12.73
Tangible Book Value per Share	$15.39	$15.06	$14.69	$13.53	$13.21	$12.90	$12.67	$12.09	$11.88	$11.84	$11.51
Total Capital	12,336	12,147	11,615	11,117	10,551	9,964	9,875	9,572	9,228	8,586	8,600
Total Debt	5,227	5,225	5,108	5,142	4,952	4,658	4,728	4,691	4,483	3,909	4,103
Total Long-Term Debt	5,227	5,225	5,108	5,142	4,952	4,658	4,728	4,691	4,483	3,909	4,103
Net Debt	4,877	4,887	4,772	4,725	4,512	4,116	4,232	4,202	3,981	3,430	3,609
Capital Expenditures (CapEx)	-134	-259	50	-236	-351	-440	35	-2.78	-235	-530	33
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-205	-212	-163	-198	-205	-223	-145	-224	-244	-211	-151
Debt-free Net Working Capital (DFNWC)	-180	-186	-137	-156	-183	-154	-120	-199	-200	-185	-125
Net Working Capital (NWC)	-180	-186	-137	-156	-183	-154	-120	-199	-200	-185	-125
Net Nonoperating Expense (NNE)	73	51	149	153	102	283	58	171	76	19	32
Net Nonoperating Obligations (NNO)	4,760	4,765	4,651	4,727	4,520	4,117	4,233	4,232	4,051	3,445	3,623
Total Depreciation and Amortization (D&A)	185	184	182	180	169	164	156	153	144	135	133
Debt-free, Cash-free Net Working Capital to Revenue	-15.17%	-15.78%	-12.20%	-15.02%	-15.93%	-17.54%	-11.71%	-18.36%	-20.23%	-17.88%	-13.04%
Debt-free Net Working Capital to Revenue	-13.34%	-13.86%	-10.24%	-11.85%	-14.16%	-12.11%	-9.64%	-16.28%	-16.63%	-15.66%	-10.78%
Net Working Capital to Revenue	-13.34%	-13.86%	-10.24%	-11.85%	-14.16%	-12.11%	-9.64%	-16.28%	-16.63%	-15.66%	-10.78%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.18)	($0.11)	($0.82)	($0.39)	($0.26)	($0.34)	($0.13)	($0.45)	($0.17)	$0.04	$0.00
Adjusted Weighted Average Basic Shares Outstanding	378.93M	378.93M	379.45M	372.48M	358.96M	365.55M	349.54M	349.63M	349.96M	349.80M	347.44M
Adjusted Diluted Earnings per Share	($0.18)	($0.11)	($0.82)	($0.39)	($0.26)	($0.34)	($0.13)	($0.45)	($0.17)	$0.04	$0.00
Adjusted Weighted Average Diluted Shares Outstanding	378.93M	378.93M	379.45M	372.48M	358.96M	365.55M	349.54M	349.63M	349.96M	349.80M	347.44M
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	380.87M	381.18M	378.54M	363.03M	354.39M	350.82M	351.42M	351.61M	351.63M	348.85M	346.52M
Normalized Net Operating Profit after Tax (NOPAT)	4.75	9.10	8.97	7.79	8.29	176	14	11	17	24	23
Normalized NOPAT Margin	1.39%	2.76%	2.75%	2.46%	2.63%	56.80%	4.57%	3.85%	5.81%	8.41%	8.18%
Pre Tax Income Margin	-20.04%	-12.61%	-96.46%	-46.14%	-29.97%	-34.93%	-15.18%	-53.83%	-19.66%	5.10%	0.01%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-0.03	0.35	-4.16	-1.33	-0.56	-0.85	0.17	-2.00	-0.11	1.31	0.99
NOPAT to Interest Expense	0.06	0.14	-2.73	0.12	0.13	2.99	0.24	0.21	0.33	0.70	0.72
EBIT Less CapEx to Interest Expense	2.00	4.45	-4.97	2.45	5.22	6.67	-0.46	-1.95	4.32	12.27	0.25
NOPAT Less CapEx to Interest Expense	2.09	4.25	-3.55	3.90	5.91	10.51	-0.39	0.26	4.76	11.66	-0.02
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	233.62%	-169.23%	-93.77%	-83.43%	-78.85%	-69.79%	-115.20%	-109.17%	-112.30%	-157.06%	-179.68%
Augmented Payout Ratio	232.13%	-170.04%	-93.95%	-131.35%	-149.91%	-148.12%	-247.23%	-169.84%	-139.25%	-159.00%	-232.16%

Financials Breakdown Chart

Key Financial Trends

Here are the key takeaways from Healthcare Realty Trust's (NYSE: HR) quarterly statements through Q4 2025, drawing on the last four years of data. The company shows solid operating cash flow and liquidity from asset sales in pockets, but debt repayment and earnings volatility remain meaningful considerations for investors.

Operating cash flow from continuing operations was positive in every 2025 quarter, with Net Cash From Continuing Operating Activities around 47.8m (Q1), 163.2m (Q2), 113.8m (Q3), and 132.3m (Q4).
Asset-sale activity provided significant liquidity in several quarters, including PPE sales of about 616.3m (Q4 2025) and 323.6m (Q3 2025).
Cash dividends per share were about 0.31 USD in most 2025 quarters (Q1–Q3), signaling a consistent dividend policy, while Q4 2025 dividend per share was 0.24 USD.
Revenue levels remained broadly stable in the 290–300m range per quarter in 2025 (Q4 2025 Operating Revenue: 286.3m; Q3 2025: 297.8m; Q2 2025: 297.5m; Q1 2025: 298.98m).
The balance sheet shows a large asset base (Total Assets roughly 9.86–10.6B) and a substantial long-term debt load (Long-Term Debt typically around 4.5–5.3B), indicating solid asset backing but meaningful leverage characteristic of a REIT.
Cash balances remained modest (Cash & Equivalents generally in the 25–43m range in 2025), providing limited near-term liquidity cushion.
Earnings per share swung from negative in several 2025 quarters to a small positive result in Q4 2025 (Basic and Diluted EPS around -0.13 to -0.45 in earlier quarters, +0.04 in Q4 2025).
Net income was volatile in 2025, with losses in Q1 (approximately -45.4m), Q2 (-160.1m), and Q3 (-58.5m) before a small gain in Q4 (+14.6m).
Financing activity drained cash in several quarters due to substantial debt repayments and dividends (for example, net cash from financing activities around -322m in Q3 2025 and about -676m in Q4 2025).
Interest expense remained a meaningful quarterly cost (roughly 48–61m per quarter in 2025), compressing pretax income and net income.

05/14/26 07:49 PM ETAI Generated. May Contain Errors.

Healthcare Realty Trust Financials - Frequently Asked Questions

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

Healthcare Realty Trust's net income appears to be on an upward trend, with a most recent value of -$249.49 million in 2025, falling from $33.56 million in 2015. The previous period was -$663.90 million in 2024. See Healthcare Realty Trust's forecast for analyst expectations on what's next for the company.

Healthcare Realty Trust's total operating income in 2025 was $92.91 million, based on the following breakdown:

Total Gross Profit: $731.47 million
Total Operating Expenses: $638.56 million

Over the last 10 years, Healthcare Realty Trust's total revenue changed from $403.82 million in 2015 to $1.18 billion in 2025, a change of 192.3%.

Healthcare Realty Trust's total liabilities were at $4.53 billion at the end of 2025, a 15.2% decrease from 2024, and a 192.3% increase since 2014.

In the past 10 years, Healthcare Realty Trust's cash and equivalents has ranged from $10.41 million in 2014 to $126.22 million in 2018, and is currently $26.17 million as of their latest financial filing in 2025.

Over the last 10 years, Healthcare Realty Trust's book value per share changed from 10.86 in 2015 to 13.13 in 2025, a change of 20.9%.

Related Companies

Financial statements for NYSE:HR last updated on 5/3/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Healthcare Realty Trust (HR) Financials

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Healthcare Realty Trust (HR) Financials

Annual Income Statements for Healthcare Realty Trust

Quarterly Income Statements for Healthcare Realty Trust

Annual Cash Flow Statements for Healthcare Realty Trust

Quarterly Cash Flow Statements for Healthcare Realty Trust

Annual Balance Sheets for Healthcare Realty Trust

Quarterly Balance Sheets for Healthcare Realty Trust

Annual Metrics And Ratios for Healthcare Realty Trust

Quarterly Metrics And Ratios for Healthcare Realty Trust

Financials Breakdown Chart

Key Financial Trends

Healthcare Realty Trust Financials - Frequently Asked Questions

When does Healthcare Realty Trust's fiscal year end?

How has Healthcare Realty Trust's net income changed over the last 10 years?

What is Healthcare Realty Trust's operating income?

How has Healthcare Realty Trust's revenue changed over the last 10 years?

How much debt does Healthcare Realty Trust have?

How much cash does Healthcare Realty Trust have?

How has Healthcare Realty Trust's book value per share changed over the last 10 years?

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