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American Healthcare REIT, Inc.

AHR Clue Score53
United States Fiscal year ends December CIK 0001632970
$50.80 +0.71% Close, 9 Oct 2026
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Price $50.80 +25.31% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 7 Feb 2024. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue0.0Operating income−5.0Net income−5.5Fiscal year 2017Revenue5.6Net income0.5Fiscal year 2018Revenue36.9 +562.5%Net income−8.4 −1,644.2%Fiscal year 2019Revenue1,099.1 +2,882.0%Operating income221.4Net income−5.0EPS, diluted−0.03Fiscal year 2020Revenue1,069.1 −2.7%Operating income218.3Net income2.2EPS, diluted0.05Fiscal year 2021Revenue1,123.9 +5.1%Operating income213.3Net income−47.8 −2,309.6%EPS, diluted−0.95Fiscal year 2022Revenue1,412.2 +25.6%Operating income302.0Net income−81.3EPS, diluted−1.24Fiscal year 2023Revenue1,668.7 +18.2%Operating income306.8Net income−71.5EPS, diluted−1.08Fiscal year 2024Revenue1,883.8 +12.9%Operating income363.5Net income−37.8EPS, diluted−0.29Fiscal year 2025Revenue2,094.5 +11.2%Operating income415.2Net income69.8EPS, diluted0.42
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 0.0 5.6 36.9 1,099.1 1,069.1 1,123.9 1,412.2 1,668.7 1,883.8 2,094.5
Growth +562.5% +2,882.0% −2.7% +5.1% +25.6% +18.2% +12.9% +11.2%
Operating income −5.0 n/a n/a 221.4 218.3 213.3 302.0 306.8 363.5 415.2
Net income −5.5 0.5 −8.4 −5.0 2.2 −47.8 −81.3 −71.5 −37.8 69.8
Growth −1,644.2% −2,309.6%
EPS, diluted n/a n/a n/a −0.03 0.05 −0.95 −1.24 −1.08 −0.29 0.42

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Fiscal year 2017Net margin9.7%Fiscal year 2018Net margin−22.7%Fiscal year 2019Operating margin20.1%Net margin−0.5%Fiscal year 2020Operating margin20.4%Net margin0.2%Fiscal year 2021Operating margin19.0%Net margin−4.3%Fiscal year 2022Operating margin21.4%Net margin−5.8%Fiscal year 2023Operating margin18.4%Net margin−4.3%Fiscal year 2024Operating margin19.3%Net margin−2.0%Fiscal year 2025Operating margin19.8%Net margin3.3%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin n/a n/a n/a 20.1% 20.4% 19.0% 21.4% 18.4% 19.3% 19.8%
Net margin n/a 9.7% −22.7% −0.5% 0.2% −4.3% −5.8% −4.3% −2.0% 3.3%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flow
Fiscal year 2016Operating cash flow−3.6Buybacks0.0Dividends paid−0.5Fiscal year 2017Operating cash flow12.4Buybacks−0.7Dividends paid−6.4Fiscal year 2018Operating cash flow15.4Buybacks−3.3Dividends paid−14.0Fiscal year 2019Operating cash flow117.5Buybacks−89.9Dividends paid−62.6Fiscal year 2020Operating cash flow219.2Buybacks−23.1Dividends paid−27.0Fiscal year 2021Operating cash flow17.9Buybacks−0.4Dividends paid−22.8Fiscal year 2022Operating cash flow147.8Buybacks−20.7Dividends paid−51.1Fiscal year 2023Operating cash flow98.5Buybacks−0.5Dividends paid−76.3Fiscal year 2024Operating cash flow176.1Buybacks−0.0Dividends paid−120.9Fiscal year 2025Operating cash flow294.4Buybacks0.0Dividends paid−163.5
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow −3.6 12.4 15.4 117.5 219.2 17.9 147.8 98.5 176.1 294.4
Buybacks 0.0 −0.7 −3.3 −89.9 −23.1 −0.4 −20.7 −0.5 −0.0 0.0
Dividends paid −0.5 −6.4 −14.0 −62.6 −27.0 −22.8 −51.1 −76.3 −120.9 −163.5

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
Cash
Fiscal year 2016Cash2.2Shareholders’ equity92.3Fiscal year 2017Cash7.1Shareholders’ equity353.2Fiscal year 2018Cash35.1Shareholders’ equity1,218.6Fiscal year 2019Cash53.1Shareholders’ equity590.1Fiscal year 2020Cash113.2Shareholders’ equity866.1Fiscal year 2021Cash81.6Shareholders’ equity1,581.3Fiscal year 2022Cash65.1Shareholders’ equity1,400.1Fiscal year 2023Cash43.4Shareholders’ equity1,270.3Fiscal year 2024Cash76.7Shareholders’ equity2,261.2Fiscal year 2025Cash114.8Shareholders’ equity3,320.6
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 2.2 7.1 35.1 53.1 113.2 81.6 65.1 43.4 76.7 114.8
Shareholders’ equity 92.3 353.2 1,218.6 590.1 866.1 1,581.3 1,400.1 1,270.3 2,261.2 3,320.6

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020† 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024† 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
0.0 5.6 36.9 1,099.1 1,069.1 1,123.9 1,412.2 1,668.7 1,883.8 2,094.5
Growth +562.5% +2,882.0% −2.7% +5.1% +25.6% +18.2% +12.9% +11.2%
0.9 7.3 11.5 19.2 993.7 1,030.2 1,281.5 1,502.3 1,653.9 1,793.5
1.2 4.3 9.2 29.7 27.0 43.2 43.4 47.5 47.6 58.7
−5.0 n/a n/a 221.4 218.3 213.3 302.0 306.8 363.5 415.2
Growth −1.4% −2.3% +41.5% +1.6% +18.5% +14.2%
−5.5 0.5 −8.6 0.7 5.8 −52.3 −72.8 −76.2 −33.9 48.6
0.0 0.0 0.0 1.5 −3.1 1.0 0.6 0.7 1.7 −22.2
−5.5 0.5 −8.4 −5.0 2.2 −47.8 −81.3 −71.5 −37.8 69.8
Growth −1,644.2% −2,309.6%
Per share
n/a n/a n/a −0.03 0.05 −0.95 −1.24 −1.08 −0.29 0.42
n/a n/a n/a −0.03 0.05 −0.95 −1.24 −1.08 −0.29 0.42
Growth −2,000.0%
n/a n/a n/a 181.9 45.0 50.1 65.8 66.0 130.6 166.1
n/a n/a n/a 181.9 45.0 50.1 65.8 66.0 130.6 166.8
Growth −75.3% +11.3% +31.4% +0.4% +97.8% +27.7%

† The diluted share count jumps at 2020 and 2024, so per-share figures either side of that column are not comparable. Usually a split, but the break lands on the restatement boundary rather than on the split date, because every column is that period’s latest filing.

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 14.4% a year over five years.
  • Operating margin is flat at 19.8%.
  • A net loss in 7 of 10 years on file.