American Healthcare REIT, Inc. (AHR) FY2025 10-K Annual Report
American Healthcare REIT, Inc. (AHR) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 27, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
American Healthcare REIT, Inc. FY2025 10-K Analysis
Business Overview
- • Core business: Self-managed REIT owning and operating clinical healthcare real estate including senior housing, skilled nursing, outpatient medical, across US, UK, Isle of Man
- • New emphasis: Public offering in Feb 2024 raised $772.8M gross; NYSE listing under symbol "AHR" and consolidation of multiple common stock classes into one
Management Discussion & Analysis
- • Revenue $2,260M, up 9.1% YoY from $2,070.7M, driven by ISHC resident fees increase of $144.1M and SHOP increase of $66.6M
- • ISHC margin impacted by inflation and acquisition growth; real estate revenue decreased $21.3M, reflecting less OM and triple-net lease revenue
Risk Factors
- • Healthcare regulation risk: potential loss of tenants’ Medicare/Medicaid participation impacting rent payments under U.S. federal/state healthcare laws
- • Macroeconomic threat: portfolio concentrated in healthcare real estate with 45.3% managed by Trilogy Manager contributing 55.5% of NOI as of 12/31/2025
American Healthcare REIT, Inc. FY2025 Key Financial MetricsXBRL
Revenue
$2.1B
▲ +11.2% YoY
Net Income
$70M
▲ +284.6% YoY
Operating Margin
19.8%
▲ +52bp YoY
Net Margin
3.3%
▲ +534bp YoY
ROE
2.1%
▲ +377bp YoY
Total Assets
$5.4B
▲ +20.9% YoY
EPS (Diluted)
$0.42
▲ +244.8% YoY
Operating Cash Flow
$294M
▲ +67.2% YoY
Source: XBRL data from American Healthcare REIT, Inc. FY2025 10-K filing on SEC EDGAR. All figures in USD.
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