DIVERSIFIED HEALTHCARE TRUST (DHC) FY2025 10-K Annual Report

Filed: Feb 24, 2026
Financials
Real Estate Investment TrustsSEC EDGAR

DIVERSIFIED HEALTHCARE TRUST (DHC) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 24, 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.

DIVERSIFIED HEALTHCARE TRUST FY2025 10-K Analysis

Business Overview

  • Core business model: Real estate investment trust specializing in senior housing, medical office, life science properties, and wellness centers
  • Emphasis on energy efficiency and ESG initiatives via partnership with RMR and participation in ENERGY STAR and LEED programs
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Management Discussion & Analysis

  • Revenue $875.5M with net loss $(305.4M) in 2025 vs $(370.3M) net loss in 2024; NOI $278.5M up from $258.9M (+7.5%)
  • Operating margins: NOI growth from $258.9M to $278.5M; no direct margin % given but loss narrowed
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Risk Factors

  • Debt refinancing risk: $2.4B principal debt as of Dec 31, 2025, with exposure to high interest rates and potential covenant breaches limiting flexibility
  • Geopolitical and macroeconomic exposure: impact from U.S. inflation, interest rate uncertainty, trade policies, tariffs, and economic downturns on real estate demand and tenant payments
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DIVERSIFIED HEALTHCARE TRUST FY2025 Key Financial Metrics
XBRL

Revenue

$1.5B

+2.8% YoY

Net Income

-$286M

+22.8% YoY

Net Margin

-18.6%

+617bp YoY

ROE

-17.2%

+174bp YoY

Total Assets

$4.4B

-15.1% YoY

EPS (Diluted)

$-1.19

+23.2% YoY

Operating Cash Flow

-$20M

-117.5% YoY

Source: XBRL data from DIVERSIFIED HEALTHCARE TRUST FY2025 10-K filing on SEC EDGAR. All figures in USD.

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