American Healthcare REIT, Inc. (AHR) stock analysis
Close on Nov 13, 2026Market cap $12.60BP/E 117.9Yield 1.73%
StockData Score
Prices as of Nov 13, 2026How the score works
Mixed11 of 30 checks passed
American Healthcare REIT passes 11 of the 30 checks behind our score; 7 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.
- Valuation
- 0/6
- Growth
- 5/6
- Past performance
- 3/6
- Financial health
- 2/6
- Dividend
- 1/6
What stands out
Return on capital over 10%
Return on invested capital was 13.7%, above the 10% that usually covers the cost of capital.
Earnings grew over 5 years
Net income grew 100% a year on average over the last five fiscal years.
Revenue growing 10%+ a year
Revenue grew 17.0% a year over the last three fiscal years.
Earnings growth accelerating
Net income grew 253% over the last twelve months, against a 5-year average of 100% a year.
What to watch
Margin of safety under 20%
The price is 146% above fair value, so there is no margin of safety.
Trading above fair value
The share price of $57.78 is above our fair value estimate of $23.44.
Return on equity under 15%
Return on equity was 2.3% over the last twelve months and averaged -2.9% over five years; we look for 15% on both.
P/E above the industry
American Healthcare REIT's P/E of 117.9 is above the Miscellaneous Investing median of 26.5.
Valuation0/6
P/E against its history
Not enough price and earnings history to compare.
P/E above the industry
American Healthcare REIT's P/E of 117.9 is above the Miscellaneous Investing median of 26.5.
EV/EBITDA above its 5-year median
American Healthcare REIT's EV/EBITDA of 15.1 is above its 5-year median of 9.3.
P/B above the industry
American Healthcare REIT's price-to-book of 2.28 is above the Miscellaneous Investing median of 1.20.
Trading above fair value
The share price of $57.78 is above our fair value estimate of $23.44.
Margin of safety under 20%
The price is 146% above fair value, so there is no margin of safety.
Growth5/6
Revenue growing 10%+ a year
Revenue grew 17.0% a year over the last three fiscal years.
EPS growth over 3 years
Needs positive EPS three years ago and today.
Earnings growth accelerating
Net income grew 253% over the last twelve months, against a 5-year average of 100% a year.
Growing faster than the industry
Revenue grew 21.5% over the last twelve months; the Miscellaneous Investing median is 4.6%.
Guidance raised
American Healthcare REIT raised its Full Year 2026 Net income per diluted share outlook on Aug 6, 2026.
Gross margin improving
Gross margin was 22.1% over the last twelve months, against 20.7% a year earlier.
Past performance3/6
Return on equity under 15%
Return on equity was 2.3% over the last twelve months and averaged -2.9% over five years; we look for 15% on both.
Return on capital over 10%
Return on invested capital was 13.7%, above the 10% that usually covers the cost of capital.
Return on equity below the industry
American Healthcare REIT's return on equity of 2.3% is below the Miscellaneous Investing median of 2.8%.
Earnings grew over 5 years
Net income grew 100% a year on average over the last five fiscal years.
Net margin above its 5-year average
Net margin was 3.6% over the last twelve months, against a 5-year average of -2.5%.
Net margin below the industry
American Healthcare REIT's net margin of 3.6% is below the Miscellaneous Investing median of 10.3%.
Financial health2/6
Debt level
Needs debt and equity figures.
Debt trend
Needs a balance sheet from five years ago with positive equity.
Debt coverage
Needs operating cash flow.
Interest well covered
Operating income covers interest expense 7.2 times.
Short-term liquidity
The balance sheet is not split into current and non-current items.
Low bankruptcy risk
The Altman Z-score is 4.14; above 3 is the safe zone and below 1.8 the distress zone.
Dividend1/6
Pays a dividend
American Healthcare REIT paid dividends worth 1.7% of the share price over the last twelve months.
Yield below Treasuries
The 1.7% yield is below the 4.7% on a 1-year Treasury.
Yield below the top quarter
The top quarter of US dividend payers yield 3.8% or more; American Healthcare REIT yields 1.7%.
Dividend was cut
The dividend per share fell by more than 10% at least once in the last 10 fiscal years.
Not covered by earnings
Dividends take 193% of net income, leaving little room.
Cash-flow cover
Needs dividends paid and free cash flow.
Fair value
How we estimate itOur estimate per share
$23.44
The share price is 146% above this estimate.
| Method | Multiple used | Own 5Y median | Industry median | Value per share | Weight |
|---|---|---|---|---|---|
| P/E | 26.5× | – | 26.5× | $12.99 | 40% |
| EV/EBITDA | 9.3× | 9.3× | 9.3× | $36.12 | 35% |
| P/B | 1.5× | 2.3× | 1.2× | $38.84 | 10% |
| Earnings power | 7.6% cost of equity | – | – | $11.45 | 15% |
| Fair value | $23.44 | 100% | |||
Valuation over time
Using the earnings and balance sheet published at each date, not today's.
- P/E at month end
- Miscellaneous Investing median 26.5
An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.
Market risk
From the past year of daily prices.
Liquidity
Low risk
- Average value traded per day
- $174.07M
- Value traded per 1% price move
- $134.89M
Downside
Low risk
- Typical loss in a bad month
- 10.1%
- Volatility (annualized)
- 26%
- Sharpe ratio, 1 year
- 0.61
- Beta to the S&P 500 (5Y)
- 0.44
Typical bad-month loss, week by week
Margins
Share of revenue, fiscal years 2015 to 2025
Gross margin
Operating margin
Net margin
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +9.1% | +17.0% | +16.2% | – | |
| Gross profit | +12.0% | +52.9% | +44.0% | – | |
| Operating income | +14.2% | +11.2% | +13.7% | – | |
| Net income | – | – | +100.3% | – | |
| EPS, diluted | – | – | +53.1% | – | |
| Dividend per share | 0.0% | -14.5% | +3.1% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -11.8% | 0.3% | 2.5% | |
| Return on assets | -7.7% | 0.1% | 1.4% | |
| Interest coverage | -9.6× | 3.1× | 4.8× | |
| Inventory turnover | – | – | 93.6× | |
| Diluted shares | 2M | 45M | 167M |
Cash use needs five years of cash flow figures
American Healthcare REIT does not report operating cash flow and capital expenditure for each of the last five fiscal years.
DuPont analysis
Return on equity split into margin, efficiency and leverage
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 3.1% | 0.46× | 1.78× | 2.5% |
| FY2024 | -1.8% | 0.46× | 2.57× | -2.1% |
| FY2023 | -3.8% | 0.40× | 3.51× | -5.4% |
| FY2022 | -5.8% | 0.30× | 3.14× | -5.5% |
| FY2021 | -4.3% | 0.29× | 3.19× | -3.9% |
| FY2020 | 0.2% | 0.50× | 2.96× | 0.3% |
| FY2016 | -173.4% | 0.04× | 1.55× | -11.8% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
- ProfitableNet income above zero$69.81M
- Cash generatingOperating cash flow above zero$294.44M
- Return on assets improvedROA up on the prior year-0.8% → 1.6%
- Earnings backed by cashOperating cash flow above net income$294.44M vs $69.81M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose– → –
- No dilutionShare count did not rise131M → 167M
- Gross margin improvedGross margin up on the prior year20.13% → 20.64%
- More efficientAsset turnover rose0.45 → 0.50
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