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American Healthcare REIT AHR SHOP — Operating Income

Other segment segments

Integrated Senior Health Campuses
$71.76M+35.4%
Outpatient Medical
$18.72M-8.7%
Triple Net Leased Properties
$9.19M-0.9%

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Other financials

Income statement

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Revenue$650.8M+20.4%
Gross profit$138.6M+28.1%
Net income$23.7M+449%
EPS (diluted)$0.13+425%

Balance sheet

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Cash & equivalents$156.9M+23.1%
Total debt$1.2B-12.5%
Total equity$3.5B+53.9%
Total assets$5.6B+25.4%

Cash flow

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Operating cash flow$81.1M+33.7%
CapEx$2.1M
Free cash flow-$7.1M

Valuation

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Market cap$10.7B+69.1%
Enterprise value$11.74B+56.5%
P/E106.6×
P/S4.9×+1.6×

Profitability

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Gross margin18%+6.1pp
Operating margin-21.2%
Net margin4.6%+3.5pp
FCF margin11.2%

Returns & leverage

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Return on equity3.5%+2.6pp
Debt / equity0.3×-0.3×

Where this comes from

Reported directly by American Healthcare REIT in its filing.

Tagged under the XBRL concept us-gaap:OperatingIncomeLoss.

The source filing: American Healthcare REIT’s 10-Q, filed May 8, 2026.

Filed
May 8, 2026, 4:16 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001193125-26-214678
Line itemISHCSHOPOMTriple-Net Leased PropertiesThree Months Ended March 31, 2026
Non-controllable expenses(3)12,5775,024
Facility rental expense(4)6,761
Other segment items(5)12,124976
Segment net operating income$71,759$25,837$18,718$9,189$125,503
General and administrative$17,605
Transaction, transition and restructuring costs1,971
Depreciation and amortization67,062
Interest expense:

Item 1. Financial Statements (Unaudited)

FAQ

What is American Healthcare REIT's SHOP — operating income?
American Healthcare REIT (AHR) reported SHOP — operating income of $25.84M in Q1 2026.
How has American Healthcare REIT's SHOP — operating income changed year-over-year?
American Healthcare REIT's SHOP — operating income increased by 119.7% year-over-year, from $11.76M to $25.84M.
What is the long-term trend for American Healthcare REIT's SHOP — operating income?
Over 4 years (2021 to 2025), American Healthcare REIT's SHOP — operating income has grown at a 44.0% compound annual growth rate (CAGR), from $14.83M to $63.7M.
What does SHOP — operating income mean?
The net profit or loss generated by the SHOP segment after deducting all operating expenses, including labor, utilities, and taxes, from total segment revenue. This is the primary measure of the segment's operational profitability.

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