vs
Side-by-side financial comparison of American Healthcare REIT, Inc. (AHR) and APOGEE ENTERPRISES, INC. (APOG). Click either name above to swap in a different company.
American Healthcare REIT, Inc. is the larger business by last-quarter revenue ($564.0M vs $351.4M, roughly 1.6× APOGEE ENTERPRISES, INC.). APOGEE ENTERPRISES, INC. runs the higher net margin — 4.7% vs 1.9%, a 2.8% gap on every dollar of revenue. On growth, American Healthcare REIT, Inc. posted the faster year-over-year revenue change (13.5% vs 1.6%). Over the past eight quarters, American Healthcare REIT, Inc.'s revenue compounded faster (11.7% CAGR vs 2.9%).
Medical Properties Trust, Inc. (MPT) is an international real estate investment trust (REIT) based in Birmingham, Alabama that purchases and invests in healthcare facilities and for-profit healthcare holding companies, primarily in the United States and Europe. Their property acquisitions often come in the form of sale-leaseback agreements, in which the original property owner sells the property to MPT and becomes their tenant. MPT's tenants are generally subject to long-term triple net lease...
Apogee Electronics is an American manufacturer of audio interfaces, analog-to-digital and digital-to-analog converters, USB & iOS microphones, and audio production software.
AHR vs APOG — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2026
| Metric | | |
|---|---|---|
| Revenue | $564.0M | $351.4M |
| Net Profit | $10.8M | $16.6M |
| Gross Margin | 14.8% | 22.4% |
| Operating Margin | 19.8% | 7.3% |
| Net Margin | 1.9% | 4.7% |
| Revenue YoY | 13.5% | 1.6% |
| Net Profit YoY | 133.9% | 568.8% |
| EPS (diluted) | $0.07 | $0.78 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $351.4M | ||
| Q4 25 | $564.0M | $348.6M | ||
| Q3 25 | $532.1M | $358.2M | ||
| Q2 25 | $501.3M | $346.6M | ||
| Q1 25 | $497.2M | $345.7M | ||
| Q4 24 | $496.8M | $341.3M | ||
| Q3 24 | $476.8M | $342.4M | ||
| Q2 24 | $458.0M | $331.5M |
| Q1 26 | — | $16.6M | ||
| Q4 25 | $10.8M | $16.5M | ||
| Q3 25 | $55.9M | $23.6M | ||
| Q2 25 | $9.9M | $-2.7M | ||
| Q1 25 | $-6.8M | $2.5M | ||
| Q4 24 | $-31.8M | $21.0M | ||
| Q3 24 | $-4.1M | $30.6M | ||
| Q2 24 | $2.0M | $31.0M |
| Q1 26 | — | 22.4% | ||
| Q4 25 | 14.8% | 23.8% | ||
| Q3 25 | 14.6% | 23.1% | ||
| Q2 25 | 15.0% | 21.7% | ||
| Q1 25 | 13.0% | 21.6% | ||
| Q4 24 | 13.3% | 26.1% | ||
| Q3 24 | 12.5% | 28.4% | ||
| Q2 24 | 12.1% | 29.8% |
| Q1 26 | — | 7.3% | ||
| Q4 25 | 19.8% | 7.1% | ||
| Q3 25 | 19.9% | 7.5% | ||
| Q2 25 | 20.6% | 2.0% | ||
| Q1 25 | 19.0% | 1.8% | ||
| Q4 24 | 20.0% | 8.4% | ||
| Q3 24 | 19.6% | 12.3% | ||
| Q2 24 | 19.4% | 12.5% |
| Q1 26 | — | 4.7% | ||
| Q4 25 | 1.9% | 4.7% | ||
| Q3 25 | 10.5% | 6.6% | ||
| Q2 25 | 2.0% | -0.8% | ||
| Q1 25 | -1.4% | 0.7% | ||
| Q4 24 | -6.4% | 6.1% | ||
| Q3 24 | -0.9% | 8.9% | ||
| Q2 24 | 0.4% | 9.4% |
| Q1 26 | — | $0.78 | ||
| Q4 25 | $0.07 | $0.77 | ||
| Q3 25 | $0.33 | $1.10 | ||
| Q2 25 | $0.06 | $-0.13 | ||
| Q1 25 | $-0.04 | $0.12 | ||
| Q4 24 | $-0.23 | $0.96 | ||
| Q3 24 | $-0.03 | $1.40 | ||
| Q2 24 | $0.01 | $1.41 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $114.8M | $39.5M |
| Total DebtLower is stronger | — | $232.3M |
| Stockholders' EquityBook value | $3.3B | $511.8M |
| Total Assets | $5.4B | $1.1B |
| Debt / EquityLower = less leverage | — | 0.45× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $39.5M | ||
| Q4 25 | $114.8M | $41.3M | ||
| Q3 25 | $147.4M | $39.5M | ||
| Q2 25 | $133.5M | $32.8M | ||
| Q1 25 | $86.1M | $41.4M | ||
| Q4 24 | $76.7M | $43.9M | ||
| Q3 24 | $67.8M | $51.0M | ||
| Q2 24 | $52.1M | $30.4M |
| Q1 26 | — | $232.3M | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $285.0M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $511.8M | ||
| Q4 25 | $3.3B | $512.3M | ||
| Q3 25 | $2.7B | $500.2M | ||
| Q2 25 | $2.4B | $481.8M | ||
| Q1 25 | $2.3B | $487.9M | ||
| Q4 24 | $2.3B | $522.1M | ||
| Q3 24 | $2.2B | $506.4M | ||
| Q2 24 | $1.9B | $480.0M |
| Q1 26 | — | $1.1B | ||
| Q4 25 | $5.4B | $1.1B | ||
| Q3 25 | $4.8B | $1.2B | ||
| Q2 25 | $4.5B | $1.2B | ||
| Q1 25 | $4.5B | $1.2B | ||
| Q4 24 | $4.5B | $1.2B | ||
| Q3 24 | $4.7B | $917.1M | ||
| Q2 24 | $4.6B | $889.0M |
| Q1 26 | — | 0.45× | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.58× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $55.2M | $122.5M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | 7.8% |
| Cash ConversionOCF / Net Profit | 5.12× | 7.37× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $122.5M | ||
| Q4 25 | $55.2M | $29.3M | ||
| Q3 25 | $107.2M | $57.1M | ||
| Q2 25 | $71.5M | $-19.8M | ||
| Q1 25 | $60.6M | $30.0M | ||
| Q4 24 | $59.5M | $31.0M | ||
| Q3 24 | $63.1M | $58.7M | ||
| Q2 24 | $59.4M | $5.5M |
| Q1 26 | — | — | ||
| Q4 25 | — | $22.9M | ||
| Q3 25 | — | $52.4M | ||
| Q2 25 | — | $-26.9M | ||
| Q1 25 | — | $19.1M | ||
| Q4 24 | — | $22.0M | ||
| Q3 24 | — | $50.2M | ||
| Q2 24 | — | $-1.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | 6.6% | ||
| Q3 25 | — | 14.6% | ||
| Q2 25 | — | -7.8% | ||
| Q1 25 | — | 5.5% | ||
| Q4 24 | — | 6.4% | ||
| Q3 24 | — | 14.7% | ||
| Q2 24 | — | -0.5% |
| Q1 26 | — | 7.8% | ||
| Q4 25 | — | 1.9% | ||
| Q3 25 | — | 1.3% | ||
| Q2 25 | — | 2.1% | ||
| Q1 25 | — | 3.2% | ||
| Q4 24 | — | 2.6% | ||
| Q3 24 | — | 2.5% | ||
| Q2 24 | — | 2.2% |
| Q1 26 | — | 7.37× | ||
| Q4 25 | 5.12× | 1.77× | ||
| Q3 25 | 1.92× | 2.41× | ||
| Q2 25 | 7.21× | — | ||
| Q1 25 | — | 12.08× | ||
| Q4 24 | — | 1.48× | ||
| Q3 24 | — | 1.92× | ||
| Q2 24 | 30.02× | 0.18× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AHR
| Integrated Senior Health Campuses | $467.0M | 83% |
| SHOP | $97.0M | 17% |
APOG
| Architectural Services | $127.1M | 36% |
| Architectural Metals | $110.0M | 31% |
| Architectural Glass | $67.4M | 19% |
| Performance Surfaces | $54.3M | 15% |
