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The use of the words we, us or our refers to American Healthcare REIT, Inc. and its subsidiaries, including American Healthcare REIT Holdings, LP, except where otherwise noted. Company American Healthcare REIT, Inc., a Maryland corporation, is a self-managed real estate investment trust, or REIT, that acquires, owns and operates a diversified portfolio of clinical healthcare real estate propert…
Operating margin is thin at 7.25%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue grew 9.1%, steady but not accelerating. Margins contracted 10.3pp, which offsets some of the top-line progress.
ROIC dropped from 8.91% to 2.84%, capital efficiency is deteriorating. Operating margin contracted 10.3pp YoY, cost discipline may be slipping.
Profitability & Returns
Revenue (TTM)
$2.37B
▲ +9.1% YoY
Net Income (TTM)
$100M
▲ +284.6% YoY
Op. Margin
4.56%
▼ -10.3pp YoY
ROIC
1.83%
▼ -6.1pp YoY
Cash Flow & Balance Sheet
FCF
N/A
Op. Cash Flow (TTM)
$315M
▲ +67.2% YoY
Net Debt
$1.56B
Cash & Equiv.
$119M
5Y CAGR: +16.2%
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