American Healthcare REIT, Inc. (AHR) vs Healthpeak Properties, Inc. (DOC)

American Healthcare REIT, Inc. and Healthpeak Properties, Inc. are both Reit Healthcare Facilities companies. Healthpeak Properties, Inc. is the larger, with a market value of $14.4B against $11.5B — 1.3× the size. Healthpeak Properties, Inc. trades at the lower P/E: 58.0× against 76.5×. American Healthcare REIT, Inc. grew revenue faster over the last twelve months: 16.4% against 5.52%. Healthpeak Properties, Inc. has the higher net margin (8.23% vs 4.84%) and the lower return on invested capital (1.71% vs 2.01%). Across the 21 metrics below, American Healthcare REIT, Inc. leads on 13 and Healthpeak Properties, Inc. on 8.

Valuation

Metric AHR DOC Reit Healthcare Facilities median
P/E 76.50 58.03 23.53
P/S 4.01 4.75 5.39
P/B 2.68 1.48 1.88
Price to free cash flow 46.27 n/m 17.82
EV/EBITDA 25.61 15.07 15.62
EV/Sales 4.51 7.57 8.52
Earnings yield 1.31% 1.72% 2.66%
Free cash flow yield 2.16% (0.14%) 3.37%

Profitability

Metric AHR DOC Reit Healthcare Facilities median
Gross margin 19.19% 58.07% 92.10%
Operating margin 6.40% 16.49% 21.06%
Net margin 4.84% 8.23% 10.19%
Free cash flow margin 8.66% (0.66%) 7.91%
Return on equity 3.90% 2.69% 4.06%
Return on assets 2.37% 1.17% 2.10%
Return on invested capital 2.01% 1.71% 1.96%

Growth

Metric AHR DOC Reit Healthcare Facilities median
Revenue growth (TTM) 16.39% 5.52% 15.71%
EPS growth (last fiscal year) 244.83% (72.22%) —
Revenue growth, 5-year CAGR 12.68% 11.40% 9.60%
Net income growth, 5-year CAGR 100.34% (29.72%) 0.00%

Health

Metric AHR DOC Reit Healthcare Facilities median
Debt to equity 0.39 1.06 0.84
Current ratio 0.48 3.02 3.05
Net debt to EBITDA 3.60 6.32 5.50

Dividend

Metric AHR DOC Reit Healthcare Facilities median
Dividend yield — 6.75% 7.11%
Payout ratio — 1.22 2.85

Size

Metric AHR DOC Reit Healthcare Facilities median
Market cap 11.48b 14.40b 4.18b

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