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Diversified Healthcare Trust

DHC Real Estate Reit Healthcare Facilities

Diversified Healthcare Trust’s revenue for fiscal 2025 (year ended December 2025) was $1.5 billion, up 2.84% from fiscal 2024.

Revenue
−5.41%
EPS
+69.4%
Free cash flow
+100.7%
Total debt
−11.7%

Quarter to September 2026, against a year earlier

7.02 0.01 −0.14%
Market cap
$1.7B
P/E
0.0×
Fwd P/E
8.4×
Dividend yield
—
F-score
5/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 0.10
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy 1 — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 9.66%

Capital & Financial Ratios $m

Size
Market Cap 1,700.00
Revenue ttm 1,479.10
Net income ttm (152.14)
Free cash flow ttm 182.33
Net debt Q 2,273.11
Valuation
P/E 0.00
Forward P/E 8.38
Price / sales 1.14
Forward P/S Powerpack
Price / FCF 9.28
Price / book 1.11
Financial health
Current ratio Q 5.32
Debt / equity Q 1.57
Interest coverage Q (0.39)
Growth
Revenue growth Q −5.41% (below 0%: shrinking)
Operating income growth Q +86.64% (above 0%: growing)
EPS, this year +47.62% (at or above 15%: strong)
EPS, next year A +39.04% (at or above 15%: strong)
Revenue, next year A +295,171.14% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A +31.65% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 3.0×, against a ten-year median of 3.0×; over the ten years it ranged from 1.9× in 2022 to 8.6× in 2016.
P/S against its own 10 years 56.01%
10-year low 10-year high
P/B against its own 10 years 73.94%
10-year low 10-year high
EV/Sales against its own 10 years 47.29%
10-year low 10-year high
EV/FCF against its own 10 years 53.65%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—
Growth, 2016–23
−42.9%/yr
  1. 1.51 ’16
  2. 1.51 ’17 +0
  3. 1.51 ’18 +0
  4. 0.81 ’19 −46
  5. 0.18 ’20 −78
  6. 0.04 ’21 −78
  7. 0.04 ’22 +0
  8. 0.03 ’23 −25
paid change on the year, %

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 247 150 122 131
Receivables 6 4 4 —
Inventory — — — —
Other — — — —
253 154 126 131
2023 2024 2025 Q'26
Payables 7 9 23 —
ST’ Debt — — — —
Other — — — —
30 32 53 25

Compound Annual Growth %

10y 5y 3y
Sales 4.41% (1.18%) 6.21%
Cash Flow 0.00% 0.00% 0.00%
Earnings 0.00% 0.00% 0.00%
Book Value (6.78%) (8.66%) (14.22%)

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.15 Actual 0.13

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.12 0.09 Miss by 0.03
Q1 FY26 0.13 0.14 Beat by 0.01
Q2 FY26 0.14 0.16 Beat by 0.02
Q3 FY26 0.15 0.13 Miss by 0.02
Q4 FY26 0.14 — Reports 22 February 2027

EPS $

Mar Jun Sep Dec Year
’26 (0.18) (0.16) (0.21) — —
’25 (0.04) (0.38) (0.68) (0.09) (1.19)
’24 (0.36) (0.41) (0.41) (0.36) (1.55)
’23 (0.22) (0.30) (0.28) (0.43) (1.23)
’22 1.01 (0.46) (0.34) (0.27) (0.07)
’21 (0.28) (0.14) (0.38) 1.54 0.73
’20 0.04 (0.11) (0.45) (0.07) (0.59)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 366 365 368 — —
’25 387 383 389 380 1,538
’24 371 371 374 380 1,495
’23 346 346 357 362 1,410
’22 311 313 323 337 1,284
’21 363 346 337 337 1,383
’20 442 410 394 385 1,632
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 8 38 27 — —
’25 (3) 53 (49) (20) (20)
’24 29 44 21 18 112
’23 6 26 (14) (7) 10
’22 (7) (25) (5) (3) (40)
’21 35 (8) (40) (50) (63)
’20 56 54 48 0 159
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (27) 21 1 — —
’25 (43) 353 (75) 187 423
’24 (15) 7 (6) (42) (55)
’23 (51) (22) (74) (59) (206)
’22 581 (85) (158) (114) 224
’21 0 47 (83) (152) (188)
’20 30 73 14 1 118
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.8
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 1,058 1,075 1,117 1,040 1,632 1,383 1,284 1,410 1,495 1,538 1,479 +4.2% — — — —
Gross margin, % 62.21 61.53 59.58 52.98 24.24 21.07 13.59 16.75 17.31 18.11 21.21 (44.1) pt
EBT 142 152 292 (83) (133) 181 (21) (273) (371) (321) (181) n/m
EBT margin, % 13.38 14.11 26.17 (7.96) (8.15) 13.11 (1.65) (19.33) (24.83) (20.87) (12.22) (34.2) pt
Net income 141 152 292 (83) (134) 180 (16) (294) (370) (286) (152) n/m
Per share, $
Per share, $ Revenue 4.46 4.53 4.70 4.38 6.86 5.81 5.39 5.90 6.24 6.40 6.14 +4.1%
Earnings 0.60 0.62 1.21 (0.37) (0.59) 0.73 (0.07) (1.23) (1.55) (1.19) (0.64) n/m
Cash flow 1.79 1.77 1.65 1.12 0.67 (0.27) (0.17) 0.04 0.47 (0.08) 0.22 n/m
Capex (1.23) (0.93) 0.42 (0.08) (0.17) (0.52) 1.11 (0.91) (0.70) 1.84 0.53 n/m
Free cash flow 0.55 0.83 2.07 1.04 0.50 (0.79) 0.94 (0.86) (0.23) 1.76 0.76 +13.7%
Book value 13.48 13.80 13.39 12.11 11.02 11.19 11.07 9.78 8.18 6.93 6.35 (7.1%)
Shares, m 237 237 238 238 238 238 238 239 240 240 241 +0.1%
Valuation, ×
Valuation, × P/E 29.43 28.76 9.05 0.00 0.00 4.18 0.00 0.00 0.00 0.00 0.00 7.1
P/S 3.96 3.94 2.31 1.79 0.60 0.53 0.12 0.61 0.37 0.76 1.14 1.5
P/B 1.31 1.29 0.81 0.65 0.37 0.28 0.06 0.37 0.28 0.70 1.11 0.6
EV/Sales 7.44 7.31 5.51 5.54 2.87 2.45 1.96 2.75 2.52 2.53 2.98 4.1
EV/FCF 59.80 39.73 12.52 23.33 39.81 (18.09) 11.21 (18.81) (68.01) 9.21 24.21 9.1
Cash, $m
Cash, $m Operating cash flow 424 419 393 266 159 (63) (40) 10 112 (20) 54 n/m
Capex (293) (221) 99 (19) (41) (124) 265 (217) (168) 442 128 n/m
Free cash flow 132 198 492 247 118 (188) 224 (206) (55) 423 182 +13.8%
Balance, $m
Balance, $m Working capital 13 (19) 8 21 43 179 (38) 223 122 72 106 +20.8%
Net debt 3,700 3,627 4,024 3,903 3,711 2,660 2,360 2,570 2,761 2,279 2,273 (5.2%)
Shareholders’ equity 3,199 3,277 3,180 2,877 2,619 2,662 2,639 2,337 1,959 1,666 1,530 (7.0%)
Returns, %
Returns, % ROA 1.96 2.03 3.97 (1.28) (2.12) 2.66 (0.25) (5.13) (7.00) (6.02) (3.43) (8.0) pt
ROIC 2.75 2.49 1.97 0.89 (0.13) (0.37) (1.17) (1.32) (1.67) (3.25) (0.56) (6.0) pt
ROE 4.31 4.56 8.89 (2.91) (5.07) 6.61 (0.60) (11.80) (17.24) (15.78) (9.45) (20.1) pt
People
People Employees 450 550 600 600 600 — — — — — — +7.5%
Revenue/emp, $m 2.35 1.95 1.86 1.73 2.72 0.00 0.00 0.00 0.00 0.00 — n/m
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Diversified Healthcare Trust vs peers in Reit Healthcare Facilities (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
HR Healthcare Realty Trust Incorporated $6.5B — (loss-making) — (loss-making) −3.74% (below 0%: shrinking) n/m −65.19% (below 0%: shrinking) 64.26% 14.64% Compare
SBRA Sabra Healthcare REIT, Inc. $5.5B 74.7× 48.8× +31.32% (above 0%: growing) +24.11% (above 0%: growing) +26.70% (above 0%: growing) 100.00% 25.59% Compare
NHI National Health Investors, Inc. $3.5B 20.5× 16.5× +33.81% (above 0%: growing) +45.57% (above 0%: growing) +2,585.45% (above 0%: growing) 72.18% 41.09% Compare
LTC LTC Properties, Inc. $2.6B 4.6× 23.6× +66.32% (above 0%: growing) n/m −126.46% (below 0%: shrinking) 100.00% 303.46% Compare
DHC Diversified Healthcare Trust $1.7B — (loss-making) 8.4× −5.41% (below 0%: shrinking) n/m +100.70% (above 0%: growing) 21.97% (3.97%)
MPT Medical Properties Trust, Inc. $1.1B 4.3× 15.0× +5.31% (above 0%: growing) n/m −15.15% (below 0%: shrinking) 95.44% (5.49%) Compare
NHP National Healthcare Properties, Inc. $1.1B — (loss-making) — (loss-making) +19.80% (above 0%: growing) n/m +119.70% (above 0%: growing) 0.00% 30.87% Compare
STRW Strawberry Fields REIT, Inc. $695.6M 54.1× 18.8× +0.70% (above 0%: growing) n/m +129.47% (above 0%: growing) 0.00% 58.43% Compare
UHT Universal Health Realty Income Trust $542.8M 26.9× 31.2× +0.17% (above 0%: growing) +22.69% (above 0%: growing) −69.28% (below 0%: shrinking) 94.23% 35.35% Compare
Median of peers $1.8B 23.7× 21.2× +12.56% +24.11% +5.78% 83.21% 33.11%

All 17 Reit Healthcare Facilities stocks →

Pay and ownership Proxy statement filed 19 March 2026

Ownership

Directors and executive officers, together 10.15%
Adam Portnoy 9.77%
ABP Trust and Adam Portnoy Two Newton Place 9.73% of the votes
Flat Footed LLC (“Flat Footed”) 9.70% of the votes
The Vanguard Group, Inc. (“Vanguard”) 8.29% of the votes
BlackRock, Inc. (“BlackRock”) 7.72% of the votes
Silver Point Capital, L.P. (“Silver Point”) Two Greenwich Plaza Suite 6.49% of the votes
H/2 Special Opportunities IV L.P. (“H/2”) 6.16% of the votes
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Diversified Healthcare Trust (DHC) Latest News

3 Nov

Impact 3 · · Simply Wall St.
Impact 3 · · GuruFocus.com
Impact 3 · · The Motley Fool transcript
Impact 3 · · MarketBeat transcript
Impact 3 · · Moby

8 Oct

Impact 4 · · Simply Wall St.

6 Oct

Impact 4 · · Business Wire

4 Aug

Impact 4 · transcript
Impact 3 · · MarketBeat transcript
Impact 3 · · Moby

3 Aug

Impact 3 ·
Impact 3 ·

22 Jun

Impact 3 · · Insider Monkey

1 Jun

Impact 4 · · Business Wire

12 May

Impact 4 · · Simply Wall St.

8 May

Impact 3 · · MarketBeat

5 May

Impact 4 · · Moby
Impact 3 · · MarketBeat

4 May

Impact 3 · · Zacks
Impact 3 · · Business Wire

9 Mar

Impact 3 · · Simply Wall St.

24 Feb

Impact 4 · · Moby
Impact 4 · · GuruFocus.com
Impact 4 · · MarketBeat

23 Feb

Impact 4 · · Associated Press FinanceAssociated Press FinanceAssociated Press FinanceSimply Wall St.MT NewswiresAssociated Press FinanceAssociated Press FinanceAssociated Press Finance
Impact 3 · · Zacks
Impact 3 · · Business Wire

19 Feb

Impact 4 · · The Motley Fool

28 Jan

Impact 3 · · Insider Monkey

24 Jan

Impact 3 · · Simply Wall St.
stockrow.com/DHC · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com