AHR vs OHI: American Healthcare REIT and Omega Healthcare Investors compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Omega Healthcare Investors is the larger company, worth $14.1B, about 1.5 times American Healthcare REIT.
- American Healthcare REIT grew revenue faster over the last year (+26.6% vs -95.0%).
- On earnings, Omega Healthcare Investors is the cheaper stock (21.8x vs 82.3x).
- American Healthcare REIT's price assumes faster free cash flow growth: about 11% a year, against 3% for Omega Healthcare Investors (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | AHR | OHI |
|---|---|---|
| Market cap | $9.4B | $14.1B |
| Share price | $50.80 | $44.41 |
| Revenue (last fiscal year) | $2.1B | $1.2B |
| Free cash flow (last fiscal year) | $294M | $798M |
| Revenue growth, last year | +26.6% | -95.0% |
| Revenue growth per year, last 5 fiscal years | +16.8% | +2.9% |
| Operating margin | 20.5% | — |
| Net margin | 5.2% | 131.8% |
| Return on equity | 3.3% | 15.9% |
| P/E (trailing) | 82.3x | 21.8x |
| Price / free cash flow | 56.4x | 16.0x |
| EV / EBITDA | 27.0x | 12.0x |
| FCF growth the price implies | 11.1% | 3.3% |
| Dividend yield | 2.0% | 6.0% |
| Debt / equity | 0.53x | 0.81x |
| Fundamental grade | C | B |
| Superinvestors holding it | 3 | 0 |
| Insider purchases, last 12 months | 0 | 2 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
American Healthcare REIT
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $1.1B | $17M | 19.0% |
| 2022 | $1.4B | $145M | 21.4% |
| 2023 | $1.7B | $93M | 18.4% |
| 2024 | $1.9B | $176M | 19.3% |
| 2025 | $2.1B | $294M | 19.8% |
Omega Healthcare Investors
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $1.1B | $677M | — |
| 2022 | $878M | $579M | — |
| 2023 | $950M | $580M | — |
| 2024 | $1.1B | $712M | — |
| 2025 | $1.2B | $798M | — |
Where the revenue comes from
American Healthcare REIT · by segments, 2025
Omega Healthcare Investors
No segment breakdown reported.
Questions
Which is bigger, American Healthcare REIT or Omega Healthcare Investors?
Omega Healthcare Investors (OHI), at $14.1B against $9.4B.
Is AHR or OHI cheaper?
By trailing P/E, Omega Healthcare Investors (21.8x) is cheaper than American Healthcare REIT (82.3x). A lower multiple can also mean the market expects less growth.
Which grows faster, AHR or OHI?
American Healthcare REIT: revenue grew +26.6% over the last year, against -95.0%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.