American Healthcare REIT, Inc. (AHR) vs LTC Properties, Inc. (LTC)

American Healthcare REIT, Inc. and LTC Properties, Inc. are both Reit Healthcare Facilities companies. American Healthcare REIT, Inc. is the larger, with a market value of $11.5B against $2.3B — 4.9× the size. LTC Properties, Inc. trades at the lower P/E: 15.7× against 76.5×. LTC Properties, Inc. grew revenue faster over the last twelve months: 59.8% against 16.4%. LTC Properties, Inc. has the higher net margin (38.7% vs 4.84%) and the higher return on invested capital (4.16% vs 2.01%). Across the 21 metrics below, LTC Properties, Inc. leads on 12 and American Healthcare REIT, Inc. on 9.

Valuation

Metric AHR LTC Reit Healthcare Facilities median
P/E 76.50 15.67 23.53
P/S 4.01 6.40 5.39
P/B 2.68 1.66 1.88
Price to free cash flow 46.27 n/m 17.82
EV/EBITDA 25.61 16.02 15.62
EV/Sales 4.51 8.52 8.52
Earnings yield 1.31% 6.38% 2.66%
Free cash flow yield 2.16% (14.98%) 3.37%

Profitability

Metric AHR LTC Reit Healthcare Facilities median
Gross margin 19.19% 100.00% 92.10%
Operating margin 6.40% 39.78% 21.06%
Net margin 4.84% 38.73% 10.19%
Free cash flow margin 8.66% (95.93%) 7.91%
Return on equity 3.90% 11.29% 4.06%
Return on assets 2.37% 6.78% 2.10%
Return on invested capital 2.01% 4.16% 1.96%

Growth

Metric AHR LTC Reit Healthcare Facilities median
Revenue growth (TTM) 16.39% 59.83% 15.71%
EPS growth (last fiscal year) 244.83% 23.53% —
Revenue growth, 5-year CAGR 12.68% 10.53% 9.60%
Net income growth, 5-year CAGR 100.34% 4.33% 0.00%

Health

Metric AHR LTC Reit Healthcare Facilities median
Debt to equity 0.39 0.58 0.84
Current ratio 0.48 8.60 3.05
Net debt to EBITDA 3.60 5.26 5.50

Dividend

Metric AHR LTC Reit Healthcare Facilities median
Dividend yield — 7.44% 7.11%
Payout ratio — 1.34 2.85

Size

Metric AHR LTC Reit Healthcare Facilities median
Market cap 11.48b 2.34b 4.18b

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