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Side-by-side financial comparison of American Healthcare REIT, Inc. (AHR) and CALERES INC (CAL). Click either name above to swap in a different company.
CALERES INC is the larger business by last-quarter revenue ($790.1M vs $564.0M, roughly 1.4× American Healthcare REIT, Inc.). American Healthcare REIT, Inc. runs the higher net margin — 1.9% vs 0.3%, a 1.6% gap on every dollar of revenue. On growth, American Healthcare REIT, Inc. posted the faster year-over-year revenue change (13.5% vs 6.6%). Over the past eight quarters, American Healthcare REIT, Inc.'s revenue compounded faster (11.7% CAGR vs 6.5%).
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...
Caleres Inc. is an American footwear company that owns and operates a variety of footwear brands. Its headquarters is located in Clayton, Missouri, a suburb of St. Louis. The company was founded in 1878 as Bryan, Brown & Company in St. Louis, though it underwent several name changes. The Hamilton-Brown Shoe Company was the largest manufacturer of shoes in America in the early 20th century, but it went bankrupt in June 1939.
AHR vs CAL — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $564.0M | $790.1M |
| Net Profit | $10.8M | $2.4M |
| Gross Margin | 14.8% | 41.8% |
| Operating Margin | 19.8% | 1.5% |
| Net Margin | 1.9% | 0.3% |
| Revenue YoY | 13.5% | 6.6% |
| Net Profit YoY | 133.9% | -94.2% |
| EPS (diluted) | $0.07 | $0.07 |
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.
| Q4 25 | $564.0M | $790.1M | ||
| Q3 25 | $532.1M | $658.5M | ||
| Q2 25 | $501.3M | $614.2M | ||
| Q1 25 | $497.2M | $639.2M | ||
| Q4 24 | $496.8M | $740.9M | ||
| Q3 24 | $476.8M | $683.3M | ||
| Q2 24 | $458.0M | $659.2M | ||
| Q1 24 | $452.1M | $697.1M |
| Q4 25 | $10.8M | $2.4M | ||
| Q3 25 | $55.9M | $6.7M | ||
| Q2 25 | $9.9M | $6.9M | ||
| Q1 25 | $-6.8M | $4.9M | ||
| Q4 24 | $-31.8M | $41.4M | ||
| Q3 24 | $-4.1M | $30.0M | ||
| Q2 24 | $2.0M | $30.9M | ||
| Q1 24 | $-3.9M | $55.7M |
| Q4 25 | 14.8% | 41.8% | ||
| Q3 25 | 14.6% | 43.4% | ||
| Q2 25 | 15.0% | 45.4% | ||
| Q1 25 | 13.0% | 43.0% | ||
| Q4 24 | 13.3% | 44.1% | ||
| Q3 24 | 12.5% | 45.5% | ||
| Q2 24 | 12.1% | 46.9% | ||
| Q1 24 | 10.7% | 43.9% |
| Q4 25 | 19.8% | 1.5% | ||
| Q3 25 | 19.9% | 1.4% | ||
| Q2 25 | 20.6% | 1.9% | ||
| Q1 25 | 19.0% | 1.2% | ||
| Q4 24 | 20.0% | 7.7% | ||
| Q3 24 | 19.6% | 6.2% | ||
| Q2 24 | 19.4% | 6.5% | ||
| Q1 24 | 18.2% | 4.4% |
| Q4 25 | 1.9% | 0.3% | ||
| Q3 25 | 10.5% | 1.0% | ||
| Q2 25 | 2.0% | 1.1% | ||
| Q1 25 | -1.4% | 0.8% | ||
| Q4 24 | -6.4% | 5.6% | ||
| Q3 24 | -0.9% | 4.4% | ||
| Q2 24 | 0.4% | 4.7% | ||
| Q1 24 | -0.9% | 8.0% |
| Q4 25 | $0.07 | $0.07 | ||
| Q3 25 | $0.33 | $0.20 | ||
| Q2 25 | $0.06 | $0.21 | ||
| Q1 25 | $-0.04 | $0.17 | ||
| Q4 24 | $-0.23 | $1.19 | ||
| Q3 24 | $-0.03 | $0.85 | ||
| Q2 24 | $0.01 | $0.88 | ||
| Q1 24 | $-0.04 | $1.56 |
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 | $34.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.3B | $616.8M |
| Total Assets | $5.4B | $2.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $114.8M | $34.0M | ||
| Q3 25 | $147.4M | $191.5M | ||
| Q2 25 | $133.5M | $33.1M | ||
| Q1 25 | $86.1M | $29.6M | ||
| Q4 24 | $76.7M | $33.7M | ||
| Q3 24 | $67.8M | $51.8M | ||
| Q2 24 | $52.1M | $30.7M | ||
| Q1 24 | $77.0M | $21.4M |
| Q4 25 | $3.3B | $616.8M | ||
| Q3 25 | $2.7B | $613.3M | ||
| Q2 25 | $2.4B | $605.2M | ||
| Q1 25 | $2.3B | $599.0M | ||
| Q4 24 | $2.3B | $598.3M | ||
| Q3 24 | $2.2B | $606.1M | ||
| Q2 24 | $1.9B | $570.3M | ||
| Q1 24 | $2.0B | $560.6M |
| Q4 25 | $5.4B | $2.1B | ||
| Q3 25 | $4.8B | $2.2B | ||
| Q2 25 | $4.5B | $1.9B | ||
| Q1 25 | $4.5B | $1.9B | ||
| Q4 24 | $4.5B | $2.0B | ||
| Q3 24 | $4.7B | $2.0B | ||
| Q2 24 | $4.6B | $1.9B | ||
| Q1 24 | $4.7B | $1.8B |
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 | $-1.2M |
| Free Cash FlowOCF − Capex | — | $-12.4M |
| FCF MarginFCF / Revenue | — | -1.6% |
| Capex IntensityCapex / Revenue | — | 1.4% |
| Cash ConversionOCF / Net Profit | 5.12× | -0.50× |
| TTM Free Cash FlowTrailing 4 quarters | — | $14.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $55.2M | $-1.2M | ||
| Q3 25 | $107.2M | $47.3M | ||
| Q2 25 | $71.5M | $-5.7M | ||
| Q1 25 | $60.6M | $28.7M | ||
| Q4 24 | $59.5M | $-39.8M | ||
| Q3 24 | $63.1M | $79.6M | ||
| Q2 24 | $59.4M | $36.1M | ||
| Q1 24 | $-6.0M | $43.0M |
| Q4 25 | — | $-12.4M | ||
| Q3 25 | — | $35.0M | ||
| Q2 25 | — | $-26.2M | ||
| Q1 25 | — | $18.0M | ||
| Q4 24 | — | $-57.4M | ||
| Q3 24 | — | $68.5M | ||
| Q2 24 | — | $26.3M | ||
| Q1 24 | — | $32.4M |
| Q4 25 | — | -1.6% | ||
| Q3 25 | — | 5.3% | ||
| Q2 25 | — | -4.3% | ||
| Q1 25 | — | 2.8% | ||
| Q4 24 | — | -7.7% | ||
| Q3 24 | — | 10.0% | ||
| Q2 24 | — | 4.0% | ||
| Q1 24 | — | 4.6% |
| Q4 25 | — | 1.4% | ||
| Q3 25 | — | 1.9% | ||
| Q2 25 | — | 3.3% | ||
| Q1 25 | — | 1.7% | ||
| Q4 24 | — | 2.4% | ||
| Q3 24 | — | 1.6% | ||
| Q2 24 | — | 1.5% | ||
| Q1 24 | — | 1.5% |
| Q4 25 | 5.12× | -0.50× | ||
| Q3 25 | 1.92× | 7.05× | ||
| Q2 25 | 7.21× | -0.81× | ||
| Q1 25 | — | 5.82× | ||
| Q4 24 | — | -0.96× | ||
| Q3 24 | — | 2.66× | ||
| Q2 24 | 30.02× | 1.17× | ||
| Q1 24 | — | 0.77× |
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% |
CAL
| Brand Portfolio | $383.7M | 49% |
| Landed Wholesale | $148.1M | 19% |
| Wholesale E Commerce | $75.0M | 9% |
| Ecommerce | $68.8M | 9% |
| Stuart Weitzman Brand | $45.8M | 6% |
| Landed Wholesale Ecommerce Drop Ship | $30.6M | 4% |
| First Cost Wholesale | $14.9M | 2% |
| Clt Brand Solutions | $10.2M | 1% |
| License And Royalty | $2.1M | 0% |
