Diversified Healthcare Trust (DHC) financial statements
Diversified Healthcare Trust reported revenue of $1.5B in fiscal 2025, up 4.2% a year over 9 years.
Net income was -$286M and the operating margin -13.3%, against 28.6% in 2016.
Free cash flow was -$166M, and the company returned $10M in dividends and $1M in net buybacks.
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Diversified Healthcare Trust's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.1B | $1.1B | $1.1B | $1.0B | $1.6B | $1.4B | $1.3B | $1.4B | $1.5B | $1.5B |
| Selling, general and admin | $47M | $104M | $86M | $37M | $31M | $34M | $26M | $26M | $27M | $46M |
| Operating income | $303M | $275M | $227M | $97M | -$13M | -$31M | -$94M | -$103M | -$126M | -$205M |
| Interest expense | $168M | $165M | $179M | $180M | $201M | $256M | $209M | $192M | $235M | $204M |
| Pre-tax income | $142M | $152M | $292M | -$83M | -$133M | $181M | -$21M | -$273M | -$371M | -$321M |
| Income tax | $424,000 | $454,000 | $476,000 | $436,000 | $1M | $1M | $710,000 | $445,000 | $467,000 | $2M |
| Net income | $141M | $148M | $287M | -$88M | -$139M | $175M | -$16M | -$294M | -$370M | -$286M |
| EPS (diluted) | $0.60 | $0.62 | $1.21 | -$0.37 | -$0.59 | $0.73 | -$0.07 | -$1.23 | -$1.55 | -$1.19 |
| Diluted shares | 237M | 237M | 238M | 238M | 238M | 238M | 238M | 239M | 240M | 240M |
| Operating margin | 28.6% | 25.6% | 20.3% | 9.3% | -0.8% | -2.3% | -7.3% | -7.3% | -8.4% | -13.3% |
| Net margin | 13.4% | 13.7% | 25.7% | -8.5% | -8.5% | 12.6% | -1.2% | -20.8% | -24.8% | -18.6% |
Balance sheet
Fiscal years, from Diversified Healthcare Trust's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $32M | $31M | $55M | $37M | $74M | $635M | $658M | $246M | $145M | $105M |
| Total assets | $7.2B | $7.3B | $7.2B | $6.7B | $6.5B | $6.6B | $6.0B | $5.4B | $5.1B | $4.4B |
| Long-term debt | — | — | — | — | — | — | — | $0 | — | — |
| Total liabilities | $4.0B | $4.0B | $4.0B | $3.8B | $3.9B | $4.0B | $3.4B | $3.1B | $3.2B | $2.7B |
| Shareholders' equity | $3.2B | $3.1B | $3.0B | $2.7B | $2.5B | $2.7B | $2.6B | $2.3B | $2.0B | $1.7B |
| Net debt | -$32M | -$31M | -$55M | -$37M | -$74M | -$635M | -$658M | -$246M | -$145M | -$105M |
Cash flow
Fiscal years, from Diversified Healthcare Trust's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $424M | $419M | $393M | $266M | $159M | -$63M | -$40M | $10M | $112M | -$20M |
| Capital spending | $100M | $117M | $104M | $222M | $186M | $228M | $299M | $235M | $202M | $147M |
| Free cash flow | $325M | $302M | $289M | $43M | -$27M | -$291M | -$340M | -$225M | -$89M | -$166M |
| Stock-based compensation | $2M | $2M | $2M | $1M | $2M | $2M | $2M | $2M | $3M | $3M |
| Dividends paid | $370M | $371M | $371M | $200M | $43M | $10M | $10M | $10M | $10M | $10M |
| Share buybacks (net) | -$452,000 | -$341,000 | -$411,000 | -$299,000 | -$171,000 | -$383,000 | -$171,000 | -$393,000 | -$904,000 | -$1M |
| Net borrowing | $0 | $0 | $0 | -$100M | — | — | -$636M | -$965M | -$120M | -$1.3B |
| Free cash flow margin | 30.7% | 28.1% | 25.9% | 4.2% | -1.7% | -21.0% | -26.5% | -15.9% | -6.0% | -10.8% |
| Dividends per share | $1.56 | $1.56 | $1.56 | $0.84 | $0.18 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 |
Questions
What was Diversified Healthcare Trust's revenue in 2025?
$1.5B in fiscal 2025, from its 10-K filing.
How much free cash flow does Diversified Healthcare Trust generate?
-$166M in fiscal 2025 (operating cash flow minus capital spending).
From Diversified Healthcare Trust's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.