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LTC Properties (LTC) Financials

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$35.11 -0.83 (-2.31%)
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Annual Income Statements for LTC Properties

Annual Income Statements for LTC Properties

This table shows LTC Properties' 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		 70 85 87 154 80 95 55 99 89 90 117
Consolidated Net Income / (Loss)		 73 85 87 155 81 96 56 101 91 95 124
Net Income / (Loss) Continuing Operations		 73 85 87 152 81 96 56 101 91 95 124
Total Pre-Tax Income 		71 84 85 152 82 96 55 99 53 84 39
Total Revenue		 136 162 142 209 157 203 135 213 197 210 263
Net Interest Income / (Expense)		 0.00 0.00 -26 -30 -31 0.00 -27 0.00 0.00 0.00 0.00
Total Interest Income		 0.00 0.00 3.64 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Interest Expense		 0.00 0.00 30 30 31 0.00 27 0.00 0.00 0.00 0.00
Total Non-Interest Income		 136 162 168 239 187 203 163 213 197 210 263
Service Charges on Deposit Accounts		 - - - - - - - - 0.00 0.00 72
Other Service Charges		 23 28 27 33 33 33 34 47 55 56 46
Other Non-Interest Income		 113 134 138 135 153 126 121 128 143 154 144
Provision for Credit Losses		 - - -0.21 - 0.17 - 1.02 1.53 5.68 0.74 4.52
Total Non-Interest Expense		 66 78 57 57 75 108 80 112 139 125 219
Other Operating Expenses		 32 40 18 19 35 64 37 71 85 81 173
Depreciation Expense		 29 36 38 38 39 39 38 37 37 36 38
Impairment Charge		 2.25 0.77 1.88 0.00 0.00 3.98 0.00 3.42 16 6.95 0.00
Restructuring Charge		 0.74 0.18 0.06 0.08 0.37 0.30 4.43 0.83 1.14 0.82 8.22
Income Tax Expense		 - - - - - - - - 0.00 0.00 0.18
Other Gains / (Losses), net		 2.41 1.14 2.26 0.00 -1.00 0.05 1.42 1.50 39 10 85
Net Income / (Loss) Attributable to Noncontrolling Interest		 0.48 0.39 0.36 0.72 0.74 0.81 0.82 1.14 2.31 4.52 6.60
Basic Earnings per Share		 $1.97 $2.21 $2.21 $3.91 $2.03 $2.42 $1.41 $2.49 $2.16 $2.07 $2.54
Weighted Average Basic Shares Outstanding		 35.59M 38.39M 39.41M 39.48M 39.57M 39.18M 39.16M 39.89M 41.27M 43.74M 46.23M
Diluted Earnings per Share		 $1.94 $2.21 $2.20 $3.89 $2.02 $2.42 $1.41 $2.48 $2.16 $2.04 $2.52
Weighted Average Diluted Shares Outstanding		 37.33M 38.60M 39.64M 39.84M 39.76M 39.26M 39.16M 40.07M 41.36M 44.24M 46.56M
Weighted Average Basic & Diluted Shares Outstanding		 35.60M 38.30M 39.40M 39.50M 39.50M 39.24M 39.50M 41.37M 43.11M 45.45M 48.51M
Cash Dividends to Common per Share		 $2.07 $2.19 $2.28 $2.28 $0.00 $2.28 $2.28 $2.28 $2.28 $2.28 $2.28

Quarterly Income Statements for LTC Properties

This table shows LTC Properties' 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		 22 28 24 19 29 18 21 15 -20 102 23
Consolidated Net Income / (Loss)		 23 29 25 20 31 20 22 17 -19 104 25
Net Income / (Loss) Continuing Operations		 23 28 25 19 31 21 22 17 -19 104 25
Total Pre-Tax Income 		22 28 24 19 27 19 18 16 -18 23 25
Total Revenue		 54 78 55 50 56 65 49 60 69 84 95
Net Interest Income / (Expense)		 0.00 11 0.00 0.00 0.00 11 0.00 0.00 0.00 - 0.00
Total Interest Income		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Interest Expense		 0.00 -11 0.00 0.00 0.00 -11 0.00 0.00 0.00 - 0.00
Total Non-Interest Income		 54 67 55 50 56 54 49 60 69 84 95
Service Charges on Deposit Accounts		 - - - - - - 0.00 12 - - 50
Other Service Charges		 14 14 14 18 24 32 11 11 41 -17 11
Net Realized & Unrealized Capital Gains on Investments		 4.87 17 3.25 -0.03 - 1.10 0.17 - - - -0.01
Other Non-Interest Income		 35 36 37 32 32 20 38 37 28 41 35
Total Non-Interest Expense		 32 50 30 30 29 46 31 44 87 60 71
Other Operating Expenses		 22 32 21 21 20 30 18 29 36 90 59
Depreciation Expense		 9.50 9.33 9.10 9.02 9.05 9.19 9.16 8.78 8.99 11 12
Restructuring Charge		 0.33 0.61 0.27 0.38 0.03 0.14 0.44 6.71 0.59 0.49 0.69
Other Special Charges		 - - 0.02 - 0.00 - 3.05 - 41 - -0.68
Income Tax Expense		 - - - 0.00 0.00 - 0.00 -0.08 0.04 - 0.11
Other Gains / (Losses), net		 0.38 - 0.38 - 4.36 - 3.67 0.77 -0.30 80 0.30
Net Income / (Loss) Attributable to Noncontrolling Interest		 0.58 0.53 0.62 0.55 1.70 1.65 1.70 1.61 1.61 1.68 1.52
Basic Earnings per Share		 $0.54 $0.67 $0.56 $0.44 $0.66 $0.41 $0.45 $0.33 ($0.44) $2.20 $0.48
Weighted Average Basic Shares Outstanding		 41.15M 41.27M 42.89M 43.17M 43.87M 43.74M 45.33M 45.71M 46.12M 46.23M 48.54M
Diluted Earnings per Share		 $0.54 $0.67 $0.56 $0.44 $0.66 $0.38 $0.45 $0.32 ($0.44) $2.19 $0.48
Weighted Average Diluted Shares Outstanding		 41.21M 41.36M 43.03M 43.46M 44.39M 44.24M 45.68M 46.03M 46.12M 46.56M 48.97M
Weighted Average Basic & Diluted Shares Outstanding		 41.41M 43.11M 43.48M 43.49M 45.26M 45.45M 45.93M 46.07M 47.61M 48.51M 51.18M
Cash Dividends to Common per Share		 $0.57 - $0.57 $0.57 $0.57 - $0.57 $0.57 $0.57 - $0.57

Annual Cash Flow Statements for LTC Properties

This table details how cash moves in and out of LTC Properties' 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		 -12 -4.95 -2.78 -0.45 -0.52 3.53 -2.61 5.22 9.91 -11 4.97
Net Cash From Operating Activities		 102 106 105 116 122 116 91 106 104 126 136
Net Cash From Continuing Operating Activities		 102 106 105 116 122 116 91 106 104 126 136
Net Income / (Loss) Continuing Operations		 73 85 87 155 81 96 56 101 91 95 124
Consolidated Net Income / (Loss)		 73 85 87 155 81 96 56 101 91 95 124
Provision For Loan Losses		 0.62 0.46 -0.21 0.09 2.09 23 1.78 1.78 4.30 0.74 6.03
Depreciation Expense		 29 36 38 38 39 39 38 37 37 36 38
Amortization Expense		 2.09 2.64 2.81 2.47 0.39 1.46 1.73 2.02 1.98 1.88 2.31
Non-Cash Adjustments to Reconcile Net Income		 -4.75 -10 -7.46 -75 6.71 -34 -1.74 -32 -14 4.78 -67
Changes in Operating Assets and Liabilities, net		 1.87 -8.18 -15 -5.01 -6.80 -9.17 -5.11 -3.99 -16 -13 32
Net Cash From Investing Activities		 -327 -140 -92 -3.61 -79 44 -70 -120 -175 91 -270
Net Cash From Continuing Investing Activities		 -327 -140 -92 -3.61 -79 44 -70 -120 -175 91 -270
Purchase of Property, Leasehold Improvements and Equipment		 -7.53 -6.79 -2.90 -3.25 -2.84 -6.91 -6.30 -8.99 -9.69 -14 -7.27
Purchase of Investment Securities		 -324 -155 -39 -97 -101 -45 -111 -192 -249 -34 -465
Divestitures		 - - - 0.00 6.60 18 0.00 - 0.00 0.00 19
Sale and/or Maturity of Investments		 6.35 26 33 99 19 78 47 81 84 138 183
Net Cash From Financing Activities		 212 29 -16 -112 -44 -157 -24 20 80 -227 139
Net Cash From Continuing Financing Activities		 212 29 -16 -112 -44 -157 -24 20 80 -227 139
Issuance of Debt		 491 201 213 116 208 24 304 269 172 0.00 309
Issuance of Common Equity		 - 79 15 4.97 - 0.00 0.00 68 54 83 101
Repayment of Debt		 -200 -164 -155 -142 -160 -68 -231 -223 -49 -207 -150
Payment of Dividends		 -77 -85 -90 -90 -91 -90 -90 -92 -95 -101 -107
Other Financing Activities, Net		 -2.38 -2.22 1.34 -1.07 -1.34 -4.07 -7.36 -2.49 -1.78 -2.94 -13
Cash Interest Paid		 16 24 28 30 29 29 27 29 47 40 33

Quarterly Cash Flow Statements for LTC Properties

This table details how cash moves in and out of LTC Properties' 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		 4.28 8.98 -11 -2.84 29 -26 14 -16 10 -3.55 7.28
Net Cash From Operating Activities		 32 25 21 37 34 33 30 30 38 38 31
Net Cash From Continuing Operating Activities		 32 25 21 37 34 33 30 30 38 38 31
Net Income / (Loss) Continuing Operations		 23 29 25 20 31 20 22 17 -19 104 25
Consolidated Net Income / (Loss)		 23 29 25 20 31 20 22 17 -19 104 25
Provision For Loan Losses		 0.19 3.57 0.02 1.02 0.22 -0.20 3.30 0.14 1.72 0.87 -0.68
Depreciation Expense		 9.50 9.33 9.10 9.02 9.05 9.19 9.16 8.78 8.99 11 12
Amortization Expense		 0.47 0.49 0.50 0.47 0.44 0.46 0.47 0.69 0.59 0.57 0.63
Non-Cash Adjustments to Reconcile Net Income		 -2.53 -11 -0.79 1.88 -1.68 5.05 2.72 3.39 45 -117 2.52
Changes in Operating Assets and Liabilities, net		 2.14 -5.24 -12 4.82 -4.92 -0.80 -8.30 0.48 1.17 39 -8.64
Net Cash From Investing Activities		 -6.85 19 21 -22 41 50 12 -38 -290 47 -57
Net Cash From Continuing Investing Activities		 -6.85 19 21 -22 41 50 12 -38 -290 47 -57
Purchase of Property, Leasehold Improvements and Equipment		 -1.82 -4.63 -1.33 -2.31 -6.27 -3.77 -1.33 -1.17 -4.18 -0.60 -2.67
Purchase of Investment Securities		 -20 -1.09 -3.44 -24 -3.37 -2.76 -1.92 -40 -327 -96 -117
Divestitures		 - - 0.00 - - - 13 - - 6.34 0.00
Sale and/or Maturity of Investments		 15 25 26 4.37 51 57 1.87 2.65 41 138 62
Net Cash From Financing Activities		 -21 -36 -54 -18 -46 -109 -27 -7.39 262 -89 33
Net Cash From Continuing Financing Activities		 -21 -36 -54 -18 -46 -109 -27 -7.39 262 -89 33
Issuance of Debt		 50 3.00 10 8.90 - 8.00 4.50 39 380 -125 30
Issuance of Common Equity		 - 52 4.45 6.52 55 17 8.49 5.30 46 41 43
Repayment of Debt		 -47 -68 -42 -8.20 -76 -109 -7.00 -24 -132 24 -5.00
Payment of Dividends		 -24 -24 -25 -25 -25 -26 -27 -26 -26 -27 -29
Other Financing Activities, Net		 -0.40 1.26 -2.19 -0.01 -0.11 0.65 -6.05 -0.59 -4.69 -1.91 -6.05
Cash Interest Paid		 12 12 9.78 10 11 8.76 7.81 7.55 7.25 10 10

Annual Balance Sheets for LTC Properties

This table presents LTC Properties' assets and liabilities at the end of each period, using annual balance sheet 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
Total Assets		 1,275 1,395 1,466 1,514 1,514 1,459 1,505 1,656 1,855 1,786 2,062
Cash and Due from Banks		 13 7.99 5.21 2.66 4.24 7.77 5.16 10 20 9.41 14
Loans and Leases, Net of Allowance		 218 230 224 0.00 254 257 344 390 673 313 382
Loans and Leases		 218 230 224 - 254 257 344 390 673 313 382
Premises and Equipment, Net		 947 1,026 1,082 1,103 1,110 1,102 1,034 1,009 970 925 1,202
Other Assets		 98 131 154 160 146 92 121 247 192 539 464
Total Liabilities & Shareholders' Equity		 1,275 1,395 1,466 1,514 1,514 1,459 1,505 1,656 1,855 1,786 2,062
Total Liabilities		 616 655 707 681 729 684 760 806 939 733 900
Short-Term Debt		 121 107 97 112 94 90 111 130 302 144 253
Accrued Interest Payable		 3.97 4.68 5.28 4.18 4.98 4.22 3.75 5.23 3.87 3.09 3.81
Long-Term Debt		 451 502 571 533 599 559 612 638 589 540 589
Other Long-Term Liabilities		 40 41 34 31 30 30 33 33 44 45 54
Total Equity & Noncontrolling Interests		 659 740 759 833 785 776 745 850 916 1,053 1,162
Total Preferred & Common Equity		 659 740 755 825 777 767 737 828 881 961 1,075
Total Common Equity		 659 740 755 825 777 767 737 828 881 961 1,075
Common Stock		 759 839 857 863 868 853 857 932 992 1,083 1,190
Retained Earnings		 -100 -99 -102 -38 -91 -86 -120 -112 -117 -126 -116
Accumulated Other Comprehensive Income / (Loss)		 0.05 0.00 - - - 0.00 -0.17 8.72 6.11 3.82 0.48
Noncontrolling Interest		 - - 3.49 7.48 8.48 8.40 8.41 22 35 92 87

Quarterly Balance Sheets for LTC Properties

This table presents LTC Properties' 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		 1,652 1,799 1,858 1,868 1,818 1,891 1,872 1,776 1,795 2,044 2,102
Cash and Due from Banks		 6.48 5.54 7.03 11 9.01 6.17 35 23 7.61 18 22
Loans and Leases, Net of Allowance		 383 453 472 670 736 747 361 314 353 775 389
Loans and Leases		 383 453 472 670 736 747 361 314 353 775 389
Premises and Equipment, Net		 1,015 992 1,018 998 956 945 938 874 865 1,127 1,301
Other Assets		 247 348 361 187 115 192 536 562 568 120 386
Total Liabilities & Shareholders' Equity		 1,652 1,799 1,858 1,868 1,818 1,891 1,872 1,776 1,795 2,044 2,102
Total Liabilities		 827 934 999 1,007 900 908 830 726 750 999 919
Short-Term Debt		 151 270 326 361 275 282 239 148 168 543 279
Accrued Interest Payable		 3.12 4.12 3.87 3.89 4.86 5.00 3.76 2.92 2.88 4.01 3.73
Long-Term Debt		 643 631 627 594 583 579 545 533 528 396 584
Other Long-Term Liabilities		 30 29 41 47 34 42 41 41 51 51 48
Total Equity & Noncontrolling Interests		 825 865 860 860 919 983 1,041 1,049 1,045 1,045 1,183
Total Preferred & Common Equity		 803 839 825 825 886 889 948 962 958 958 1,110
Total Common Equity		 803 839 825 825 886 889 948 962 958 958 1,110
Common Stock		 900 934 936 938 997 1,006 1,063 1,092 1,100 1,147 1,230
Retained Earnings		 -107 -102 -120 -121 -117 -123 -119 -133 -144 -191 -121
Accumulated Other Comprehensive Income / (Loss)		 9.45 7.36 8.57 8.60 6.49 5.97 3.64 2.91 2.19 1.46 1.56
Noncontrolling Interest		 22 26 35 35 33 94 94 87 87 87 73

Annual Metrics And Ratios for LTC Properties

This table displays calculated financial ratios and metrics derived from LTC Properties' 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		 - - - - - - - - - - -
Profitability Metrics		 - - - - - - - - - - -
Valuation Ratios		 - - - - - - - - - - -
Leverage & Solvency		 - - - - - - - - - - -
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Efficiency Ratios		 - - - - - - - - - - -
Capital & Investment Metrics		 - - - - - - - - - - -
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.97 $2.21 $2.21 $3.91 $2.03 $2.42 $1.41 $2.49 $2.16 $2.07 $2.54
Adjusted Weighted Average Basic Shares Outstanding		 35.59M 38.39M 39.41M 39.48M 39.57M 39.18M 39.16M 39.89M 41.27M 43.74M 46.23M
Adjusted Diluted Earnings per Share		 $1.94 $2.21 $2.20 $3.89 $2.02 $2.42 $1.41 $2.48 $2.16 $2.04 $2.52
Adjusted Weighted Average Diluted Shares Outstanding		 37.33M 38.60M 39.64M 39.84M 39.76M 39.26M 39.16M 40.07M 41.36M 44.24M 46.56M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $2.03 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 37.52M 39.59M 39.63M 39.71M 39.75M 39.24M 39.50M 41.37M 43.11M 45.45M 48.51M
Debt Service Ratios		 - - - - - - - - - - -
Payout Ratios		 - - - - - - - - - - -

Quarterly Metrics And Ratios for LTC Properties

This table displays calculated financial ratios and metrics derived from LTC Properties' 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		 - - - - - - - - - - 48,509,762.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 48,509,762.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 0.51
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 54.01% 10.06% -19.70% 3.16% 9.73% -16.54% -9.91% 20.28% 24.21% - 93.90%
EBITDA Growth		 40.54% 29.46% -20.97% 77.33% 23.11% -24.28% -16.87% -11.91% -123.96% - 32.62%
EBIT Growth		 71.00% 44.28% -26.74% 206.15% 35.58% -32.21% -23.68% -17.68% -168.66% - 33.49%
NOPAT Growth		 71.00% 58.76% -26.74% 206.15% 35.58% -33.25% -23.68% -17.39% -148.06% - 34.19%
Net Income Growth		 69.00% 57.54% -26.44% 198.88% 36.39% -31.67% -10.00% -16.16% -160.07% - 12.31%
EPS Growth		 68.75% 52.27% -30.00% 193.33% 22.22% -43.28% -19.64% -27.27% -166.67% - 6.67%
Operating Cash Flow Growth		 33.17% -22.38% 16.14% 29.71% 4.85% 30.71% 40.37% -18.76% 13.15% - 4.03%
Free Cash Flow Firm Growth		 9.13% -21.61% 105.52% 95.53% 111.42% 156.03% 415.98% 1,120.53% -1,164.12% - -545.17%
Invested Capital Growth		 12.10% 11.71% 0.66% 1.70% 0.57% -3.95% -2.64% -5.60% 8.74% - 18.25%
Revenue Q/Q Growth		 11.59% 43.16% 0.83% 14.95% 18.69% 8.88% -23.98% 22.43% 15.02% - 13.41%
EBITDA Q/Q Growth		 100.04% 17.13% -22.25% -15.76% 38.87% -27.95% -1.37% -10.74% -134.28% - 6.98%
EBIT Q/Q Growth		 257.29% 25.46% -28.03% -21.58% 58.23% -37.27% -1.95% -15.41% -215.95% - 5.74%
NOPAT Q/Q Growth		 257.29% 27.15% -14.07% -21.58% 58.23% -37.40% -1.75% -14.98% -180.75% - 5.31%
Net Income Q/Q Growth		 242.63% 26.71% -13.89% -20.05% 56.36% -36.52% 13.43% -25.53% -212.04% - -75.92%
EPS Q/Q Growth		 260.00% 24.07% -16.42% -21.43% 50.00% -42.42% 18.42% -28.89% -237.50% - -78.08%
Operating Cash Flow Q/Q Growth		 13.70% -21.38% -17.75% 76.42% -8.09% -1.99% -11.18% 1.54% 28.02% - -18.91%
Free Cash Flow Firm Q/Q Growth		 33.55% 7.24% 107.96% -192.01% 269.75% 354.91% -27.38% 81.49% -244.72% - -19.53%
Invested Capital Q/Q Growth		 0.10% -0.40% -1.59% 3.74% -1.01% -4.88% -0.34% 0.59% 14.03% - 2.07%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 59.48% 48.66% 77.82% 57.03% 66.73% 44.16% 57.29% 41.77% -12.45% - 39.18%
EBIT Margin		 41.08% 36.00% 55.80% 38.07% 50.75% 29.24% 37.71% 26.06% -26.27% - 25.97%
Profit (Net Income) Margin		 41.77% 36.97% 56.66% 39.41% 51.92% 30.27% 45.16% 27.47% -26.76% - 26.16%
Tax Burden Percent		 101.69% 101.33% 101.55% 103.52% 102.29% 103.72% 119.75% 105.43% 101.87% - 100.71%
Interest Burden Percent		 100.00% 101.35% 100.00% 100.00% 100.00% 99.80% 100.00% 100.00% 100.00% - 100.04%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -0.52% 0.00% - 0.44%
Return on Invested Capital (ROIC)		 4.69% 5.00% 5.57% 3.71% 5.12% 3.59% 4.57% 3.25% -2.28% - 4.23%
ROIC Less NNEP Spread (ROIC-NNEP)		 4.73% 5.04% 5.61% 3.79% 5.20% 3.68% 5.04% 3.35% -2.95% - 4.27%
Return on Net Nonoperating Assets (RNNOA)		 4.91% 4.73% 5.54% 3.73% 4.75% 2.94% 3.95% 2.57% -2.44% - 2.95%
Return on Equity (ROE)		 9.60% 9.73% 11.11% 7.44% 9.87% 6.53% 8.51% 5.83% -4.72% - 7.19%
Cash Return on Invested Capital (CROIC)		 -6.78% -5.81% 3.92% 3.45% 5.03% 9.25% 7.62% 10.41% -6.35% - -14.31%
Operating Return on Assets (OROA)		 4.57% 4.81% 5.46% 3.62% 4.98% 3.50% 4.46% 3.15% -3.17% - 4.14%
Return on Assets (ROA)		 4.65% 4.94% 5.54% 3.75% 5.10% 3.62% 5.34% 3.32% -3.23% - 4.17%
Return on Common Equity (ROCE)		 9.27% 9.42% 10.74% 6.92% 9.21% 6.10% 7.99% 5.31% -4.31% - 6.67%
Return on Equity Simple (ROE_SIMPLE)		 9.81% 0.00% 9.32% 10.77% 10.97% 0.00% 9.61% 9.32% 4.16% - 11.41%
Net Operating Profit after Tax (NOPAT)		 22 28 24 19 30 19 19 16 -13 - 25
NOPAT Margin		 41.08% 36.48% 55.80% 38.07% 50.75% 29.18% 37.71% 26.19% -18.39% - 25.86%
Net Nonoperating Expense Percent (NNEP)		 -0.04% -0.05% -0.04% -0.07% -0.08% -0.09% -0.48% -0.10% 0.67% - -0.04%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Operating Expenses to Revenue		 58.58% 64.00% 44.20% 60.53% 49.25% 70.76% 56.08% 73.30% 125.97% - 74.03%
Earnings before Interest and Taxes (EBIT)		 22 28 24 19 30 19 19 16 -18 - 25
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 32 38 34 29 40 29 28 25 -8.63 - 37
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.50 1.40 1.48 1.67 1.67 1.61 1.67 1.65 1.76 - 1.62
Price to Tangible Book Value (P/TBV)		 1.50 1.40 1.48 1.67 1.67 1.61 1.67 1.65 1.76 - 1.62
Price to Revenue (P/Rev)		 6.31 5.25 7.41 8.32 8.64 7.10 7.54 7.10 7.15 - 5.80
Price to Earnings (P/E)		 15.66 13.81 16.31 15.88 15.78 17.12 18.46 19.15 50.80 - 14.92
Dividend Yield		 7.64% 7.67% 7.21% 6.68% 6.25% 6.67% 6.47% 6.62% 6.22% - 6.17%
Earnings Yield		 6.39% 7.24% 6.13% 6.30% 6.34% 5.84% 5.42% 5.22% 1.97% - 6.70%
Enterprise Value to Invested Capital (EV/IC)		 1.22 1.18 1.23 1.32 1.33 1.33 1.36 1.35 1.36 - 1.32
Enterprise Value to Revenue (EV/Rev)		 11.30 9.11 12.39 13.64 13.23 10.62 11.05 10.59 11.43 - 8.76
Enterprise Value to EBITDA (EV/EBITDA)		 18.57 16.52 17.39 17.50 16.61 17.70 18.23 18.85 33.56 - 29.00
Enterprise Value to EBIT (EV/EBIT)		 27.73 23.76 25.26 24.30 22.53 25.02 25.95 27.15 64.13 - 53.94
Enterprise Value to NOPAT (EV/NOPAT)		 27.86 23.76 27.03 25.90 23.86 25.02 27.08 28.30 69.94 - 59.41
Enterprise Value to Operating Cash Flow (EV/OCF)		 19.82 20.47 20.42 21.01 20.70 18.48 17.56 18.59 20.56 - 19.74
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 31.55 38.51 26.55 14.12 17.56 12.64 0.00 - 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.11 0.97 0.93 0.88 0.75 0.65 0.65 0.67 0.90 - 0.73
Long-Term Debt to Equity		 0.69 0.64 0.63 0.59 0.52 0.51 0.51 0.51 0.38 - 0.49
Financial Leverage		 1.04 0.94 0.99 0.98 0.91 0.80 0.78 0.77 0.83 - 0.69
Leverage Ratio		 2.09 1.99 2.03 2.03 1.97 1.85 1.83 1.82 1.88 - 1.74
Compound Leverage Factor		 2.09 2.01 2.03 2.03 1.97 1.85 1.83 1.82 1.88 - 1.74
Debt to Total Capital		 52.59% 49.31% 48.30% 46.70% 42.94% 39.35% 39.36% 39.97% 47.33% - 42.18%
Short-Term Debt to Total Capital		 19.87% 16.72% 15.49% 15.28% 13.07% 8.23% 8.53% 9.64% 27.38% - 13.61%
Long-Term Debt to Total Capital		 32.73% 32.59% 32.81% 31.42% 29.87% 31.12% 30.82% 30.33% 19.96% - 28.57%
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%
Noncontrolling Interests to Total Capital		 1.93% 1.94% 1.83% 5.08% 5.13% 5.32% 5.05% 5.02% 4.40% - 3.57%
Common Equity to Total Capital		 45.48% 48.75% 49.87% 48.22% 51.93% 55.33% 55.59% 55.01% 48.26% - 54.25%
Debt to EBITDA		 8.01 6.89 6.81 6.19 5.36 5.23 5.29 5.56 11.69 - 9.24
Net Debt to EBITDA		 7.91 6.73 6.74 6.15 5.12 5.16 5.11 5.50 11.46 - 9.01
Long-Term Debt to EBITDA		 4.98 4.55 4.63 4.17 3.73 4.13 4.14 4.22 4.93 - 6.26
Debt to NOPAT		 12.01 9.91 10.59 9.17 7.70 7.39 7.86 8.35 24.36 - 18.93
Net Debt to NOPAT		 11.87 9.68 10.48 9.10 7.35 7.29 7.59 8.26 23.89 - 18.46
Long-Term Debt to NOPAT		 7.47 6.55 7.19 6.17 5.35 5.84 6.15 6.34 10.27 - 12.82
Noncontrolling Interest Sharing Ratio		 3.38% 3.22% 3.27% 6.98% 6.76% 6.47% 6.10% 8.93% 8.67% - 7.19%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -174 -161 13 -12 20 90 66 119 -172 - -291
Operating Cash Flow to CapEx		 1,777.18% 549.77% 1,576.37% 1,602.78% 541.51% 883.81% 2,230.09% 2,568.61% 920.06% - 1,154.33%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 1.15 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 1.90 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 1.78 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.11 0.13 0.10 0.10 0.10 0.12 0.12 0.12 0.12 - 0.16
Fixed Asset Turnover		 0.19 0.24 0.18 0.18 0.19 0.23 0.23 0.25 0.23 - 0.28
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 1,815 1,808 1,777 1,844 1,825 1,736 1,730 1,741 1,985 - 2,046
Invested Capital Turnover		 0.11 0.14 0.10 0.10 0.10 0.12 0.12 0.12 0.12 - 0.16
Increase / (Decrease) in Invested Capital		 196 189 12 31 10 -71 -47 -103 159 - 316
Enterprise Value (EV)		 2,214 2,137 2,192 2,433 2,430 2,313 2,348 2,357 2,698 - 2,708
Market Capitalization		 1,236 1,231 1,310 1,484 1,587 1,547 1,603 1,581 1,689 - 1,794
Book Value per Share		 $19.93 $21.28 $20.66 $20.45 $21.79 $21.22 $21.16 $20.85 $20.79 - $22.88
Tangible Book Value per Share		 $19.93 $21.28 $20.66 $20.45 $21.79 $21.22 $21.16 $20.85 $20.79 - $22.88
Total Capital		 1,815 1,808 1,777 1,844 1,825 1,736 1,730 1,741 1,985 - 2,046
Total Debt		 955 891 858 861 784 683 681 696 939 - 863
Total Long-Term Debt		 594 589 583 579 545 540 533 528 396 - 584
Net Debt		 943 871 849 855 749 674 658 688 921 - 841
Capital Expenditures (CapEx)		 1.82 4.63 1.33 2.31 6.27 3.77 1.33 1.17 4.18 - 2.67
Net Nonoperating Expense (NNE)		 -0.38 -0.38 -0.38 -0.67 -0.69 -0.70 -3.67 -0.77 5.80 - -0.29
Net Nonoperating Obligations (NNO)		 955 891 858 861 784 683 681 696 939 - 863
Total Depreciation and Amortization (D&A)		 9.97 9.83 9.60 9.50 9.50 9.65 9.63 9.47 9.57 - 13
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.54 $0.67 $0.56 $0.44 $0.66 $0.41 $0.45 $0.33 ($0.44) $2.20 $0.48
Adjusted Weighted Average Basic Shares Outstanding		 41.15M 41.27M 42.89M 43.17M 43.87M 43.74M 45.33M 45.71M 46.12M 46.23M 48.54M
Adjusted Diluted Earnings per Share		 $0.54 $0.67 $0.56 $0.44 $0.66 $0.38 $0.45 $0.32 ($0.44) $2.19 $0.48
Adjusted Weighted Average Diluted Shares Outstanding		 41.21M 41.36M 43.03M 43.46M 44.39M 44.24M 45.68M 46.03M 46.12M 46.56M 48.97M
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		 41.41M 43.11M 43.48M 43.49M 45.26M 45.45M 45.93M 46.07M 47.61M 48.51M 51.18M
Normalized Net Operating Profit after Tax (NOPAT)		 16 23 17 14 21 18 13 16 17 - 25
Normalized NOPAT Margin		 29.18% 29.03% 39.53% 27.18% 35.82% 28.10% 27.03% 26.03% 24.09% - 25.86%
Pre Tax Income Margin		 41.08% 36.48% 55.80% 38.07% 50.75% 29.18% 37.71% 26.06% -26.27% - 25.98%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 2.20 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
NOPAT to Interest Expense		 0.00 0.00 2.20 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 2.08 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 2.08 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 116.16% 103.61% 116.02% 101.34% 94.92% 105.96% 111.65% 117.33% 265.85% - 86.33%
Augmented Payout Ratio		 116.16% 103.61% 116.02% 101.34% 94.92% 105.96% 111.65% 117.33% 265.85% - 86.33%

Financials Breakdown Chart

Key Financial Trends

LTC Properties’ latest quarter shows a business that is still generating solid operating cash flow, but earnings have become much more volatile and the balance sheet has shifted meaningfully over the past year. The biggest takeaway is that Q1 2026 rebounded sharply from the weak prior quarter, yet the broader multi-year trend shows uneven profitability, heavy reliance on non-interest income, and a balance sheet that has grown more leveraged.

What stands out most:

  • Q1 2026 net income attributable to common shareholders improved to $23.4 million, up from a loss of $20.1 million in Q3 2025 and well above the weak quarter before that.
  • Operating cash flow remained strong in Q1 2026 at $30.8 million, showing the core business is still producing cash even when accounting earnings swing around.
  • The company ended Q1 2026 with $21.7 million in cash, up from $17.9 million in Q3 2025 and $7.6 million in Q2 2025.
  • Total assets increased to $2.10 billion in Q1 2026 from $2.04 billion in Q3 2025 and $1.80 billion in Q2 2025, reflecting a larger operating footprint.
  • Q1 2026 cash flow benefited from a strong financing contribution of $33.3 million, supporting liquidity and balance-sheet flexibility.
  • Year-over-year, Q1 2026 net income was better than Q1 2025, when the company earned $20.5 million attributable to common shareholders.
  • Revenue in Q1 2026 was $95.4 million, up from $69.3 million in Q3 2025 and $49.2 million in Q1 2025, but the revenue mix remains heavily dependent on non-interest income.
  • Basic EPS in Q1 2026 was $0.48, below Q4 2025’s unusually strong $2.20 but above Q3 2025’s -$0.44.
  • The company issued $43.4 million of common equity in Q1 2026 and also issued $30.1 million of debt, suggesting continued access to capital markets.
  • Retained earnings remained negative at -$121.4 million in Q1 2026, versus -$190.6 million in Q3 2025, showing the company is still working through a history of uneven profitability.
  • The company paid $0.57 per share in dividends in Q1 2026, consistent with the recent quarterly pattern.
  • Leverage remains significant: total liabilities were $919.3 million in Q1 2026, versus $999.2 million in Q3 2025, still a large obligation relative to equity.
  • Short-term debt was still elevated at $278.5 million in Q1 2026, which can increase refinancing risk if capital markets tighten.
  • The company’s earnings have been highly volatile over the last several quarters, swinging from $101.0 million common net income in Q4 2025 to a loss in Q3 2025 and back to $23.4 million in Q1 2026.
  • Q3 2025 showed a major earnings setback, with total revenue of only $69.3 million and a common-share loss of $20.1 million, highlighting how unpredictable results can be.
  • The business has consistently paid out dividends that exceed quarterly earnings in some periods, which may limit flexibility if profitability weakens again.

Bottom line: LTC Properties looks like a company with decent cash generation and enough liquidity to keep operating, but its earnings profile is choppy and the balance sheet still carries meaningful debt. For retail investors, that means the stock may appeal more to income-focused investors comfortable with volatility than to those seeking steady, predictable growth.

06/03/26 02:29 PM ETAI Generated. May Contain Errors.

LTC Properties Financials - Frequently Asked Questions

According to the most recent income statement we have on file, LTC Properties' financial year ends in December. Their financial year 2025 ended on December 31, 2025.

LTC Properties' net income were at $123.88 million at the end of 2025, a 30.6% increase from 2024, and a 69.5% increase since 2015. View LTC Properties' forecast to see where analysts expect LTC Properties to go next.

Over the last 10 years, LTC Properties' total revenue changed from $136.20 million in 2015 to $262.85 million in 2025, a change of 93.0%.

LTC Properties' total liabilities were at $899.68 million at the end of 2025, a 22.7% increase from 2024, and a 46.0% increase since 2015.

In the past 10 years, LTC Properties' cash and equivalents has ranged from $2.66 million in 2018 to $20.29 million in 2023, and is currently $14.39 million as of their latest financial filing in 2025.


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Financial statements for NYSE:LTC last updated on 5/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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