American Healthcare REIT, Inc. (AHR) vs Ventas, Inc. (VTR)

American Healthcare REIT, Inc. and Ventas, Inc. are both Reit Healthcare Facilities companies. Ventas, Inc. is the larger, with a market value of $45.5B against $11.5B — 4.0× the size. American Healthcare REIT, Inc. trades at the lower P/E: 76.5× against 157×. Ventas, Inc. grew revenue faster over the last twelve months: 21.5% against 16.4%. American Healthcare REIT, Inc. has the higher net margin (4.84% vs 4.08%) and the lower return on invested capital (2.01% vs 2.06%). Across the 22 metrics below, American Healthcare REIT, Inc. leads on 14 and Ventas, Inc. on 8.

Valuation

Metric AHR VTR Reit Healthcare Facilities median
P/E 76.50 157.44 23.53
P/S 4.01 6.58 5.39
P/B 2.68 2.88 1.88
Price to free cash flow 46.27 30.33 17.82
EV/EBITDA 25.61 22.81 15.62
EV/Sales 4.51 8.51 8.52
Earnings yield 1.31% 0.64% 2.66%
Free cash flow yield 2.16% 3.30% 3.37%

Profitability

Metric AHR VTR Reit Healthcare Facilities median
Gross margin 19.19% 94.82% 92.10%
Operating margin 6.40% 13.93% 21.06%
Net margin 4.84% 4.08% 10.19%
Free cash flow margin 8.66% 21.68% 7.91%
Return on equity 3.90% 2.00% 4.06%
Return on assets 2.37% 0.94% 2.10%
Return on invested capital 2.01% 2.06% 1.96%

Growth

Metric AHR VTR Reit Healthcare Facilities median
Revenue growth (TTM) 16.39% 21.49% 15.71%
EPS growth (last fiscal year) 244.83% 184.21% —
Revenue growth, 5-year CAGR 12.68% 8.98% 9.60%
Net income growth, 5-year CAGR 100.34% (10.56%) 0.00%

Health

Metric AHR VTR Reit Healthcare Facilities median
Debt to equity 0.39 0.86 0.84
Current ratio 0.48 0.44 3.05
Net debt to EBITDA 3.60 5.48 5.50

Dividend

Metric AHR VTR Reit Healthcare Facilities median
Dividend yield — 3.95% 7.11%
Payout ratio — 8.18 2.85

Size

Metric AHR VTR Reit Healthcare Facilities median
Market cap 11.48b 45.53b 4.18b

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