American Healthcare REIT (AHR) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

American Healthcare REIT

NYSE•Real Estate•REIT - Healthcare Facilities

$53.31+0.17(<0.01%)Market open

Market Cap

$10.05B

P/E

83.0x

P/S

4.0x

P/B

2.7x

American Healthcare REIT, Inc., a Maryland-based self-managed REIT, owns and operates a diversified portfolio of clinical healthcare real estate across the U.S., U.K., and the Isle of Man. Its focus includes senior housing, skilled nursing facilities (SNFs), outpatient medical (OM) buildings, and other healthcare-related properties. The company utilizes a fully integrated management platform and operates senior housing under the RIDEA structure. In addition to owning and operating properties, it has originated and acquired secured loans and may pursue other real estate-related investments opportunistically. The REIT seeks income-generating assets and selectively develops healthcare properties. It has elected to be taxed as a REIT under the U.S. Internal Revenue Code and intends to maintain compliance with REIT requirements. American Healthcare REIT, Inc. is based in Irvine, United States.

How this company scores

GoodMetricSide Score: 79/100

Strongest: Cash & Earnings Quality (23/25); weakest: Balance Sheet & Red Flags (15/25).

Profitability19/25

Growth22/25

Balance Sheet & Red Flags15/25

Cash & Earnings Quality23/25

Strengths

Growing revenueRising free cash flowStrong marginsRising earnings

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 83.0x5y range 83.0x – 259.1x

Currently near its 4-quarter median.

P/S · 4.0x5y range 0.4x – 4.0x

Currently above its 20-quarter median.

P/B · 2.7x5y range 0.4x – 2.7x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Earnings Quality

Watch

FCF/Net Income has dropped below 0.7x in 4 quarters — monitor for earnings quality deterioration.

Share Dilution

Red Flag

Shares outstanding increased 44.1% — significant dilution, likely from stock compensation or capital raises.

Price & Volume

Market Cap $10.05B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $2.50B
Q. Revenue: $674.25M
TTM EBITDA: $723.83M
TTM Op. Income: $480.14M
Q. Op. Income: $137.24M
TTM Net Income: $121.02M
Q. Net Income: $30.61M
EPS: $0.16
Shares Out.: $192.71M

$2.50B in TTM revenue grew 24.5% YoY, reaching $674.25M last quarter. TTM EBITDA of $723.83M and TTM operating income of $480.14M show growth is flowing through to the bottom line. TTM net income of $121.02M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 31.1%
Op. Margin: 20.4%
Net Margin: 4.5%

Op. margin of 20.4% is up 1.3% YoY — cost efficiency is improving. Net margin at 4.5% Across the last 8 quarters, operating margin has risen for 3 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 83.0x
P/S Ratio: 4.0x
P/B Ratio: 2.7x

At 83.0x P/E, the stock trades above typical market levels — the market expects above-average growth. P/S of 4.0x and P/B of 2.7x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Across the last 4 quarters, P/E has fallen for 3 consecutive quarters — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $5.70B
Cash: $156.90M
Long-Term Debt: N/A
Book Value: $3.69B
D/E Ratio: N/A
Debt/EBITDA: 0.0

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $118.62M
TTM Free Cash Flow: $195.55M
FCF Margin: 7.8%
FCF / Net Income: 1.6

TTM FCF of $195.55M on $118.62M in operating cash flow. The FCF / Net Income ratio of 1.6x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has risen for 2 consecutive quarters — an improving trend.