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Side-by-side financial comparison of American Healthcare REIT, Inc. (AHR) and Clearwater Paper Corp (CLW). 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 $360.3M, roughly 1.6× Clearwater Paper Corp). American Healthcare REIT, Inc. runs the higher net margin — 1.9% vs -3.6%, a 5.5% gap on every dollar of revenue. On growth, American Healthcare REIT, Inc. posted the faster year-over-year revenue change (13.5% vs -4.7%). Over the past eight quarters, American Healthcare REIT, Inc.'s revenue compounded faster (11.7% CAGR vs 2.3%).

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...

Clearwater Paper Corporation is an American pulp and paperboard manufacturer. The company was created on December 9, 2008, via a spin-off from Potlatch Corporation and is headquartered in Spokane, Washington.

AHR vs CLW — Head-to-Head

Bigger by revenue
AHR
AHR
1.6× larger
AHR
$564.0M
$360.3M
CLW
Growing faster (revenue YoY)
AHR
AHR
+18.2% gap
AHR
13.5%
-4.7%
CLW
Higher net margin
AHR
AHR
5.5% more per $
AHR
1.9%
-3.6%
CLW
Faster 2-yr revenue CAGR
AHR
AHR
Annualised
AHR
11.7%
2.3%
CLW

Income Statement — Q4 FY2025 vs Q1 FY2026

Metric
AHR
AHR
CLW
CLW
Revenue
$564.0M
$360.3M
Net Profit
$10.8M
$-12.8M
Gross Margin
14.8%
-0.2%
Operating Margin
19.8%
Net Margin
1.9%
-3.6%
Revenue YoY
13.5%
-4.7%
Net Profit YoY
133.9%
-103.2%
EPS (diluted)
$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.

Revenue
AHR
AHR
CLW
CLW
Q1 26
$360.3M
Q4 25
$564.0M
$386.4M
Q3 25
$532.1M
$399.0M
Q2 25
$501.3M
$391.8M
Q1 25
$497.2M
$378.2M
Q4 24
$496.8M
$387.1M
Q3 24
$476.8M
$393.3M
Q2 24
$458.0M
$344.4M
Net Profit
AHR
AHR
CLW
CLW
Q1 26
$-12.8M
Q4 25
$10.8M
$38.3M
Q3 25
$55.9M
$-53.3M
Q2 25
$9.9M
$2.7M
Q1 25
$-6.8M
$-6.3M
Q4 24
$-31.8M
$199.1M
Q3 24
$-4.1M
$5.8M
Q2 24
$2.0M
$-25.8M
Gross Margin
AHR
AHR
CLW
CLW
Q1 26
-0.2%
Q4 25
14.8%
4.5%
Q3 25
14.6%
4.7%
Q2 25
15.0%
11.0%
Q1 25
13.0%
9.7%
Q4 24
13.3%
3.8%
Q3 24
12.5%
7.7%
Q2 24
12.1%
-0.6%
Operating Margin
AHR
AHR
CLW
CLW
Q1 26
Q4 25
19.8%
1.9%
Q3 25
19.9%
-13.9%
Q2 25
20.6%
2.5%
Q1 25
19.0%
-1.1%
Q4 24
20.0%
-4.0%
Q3 24
19.6%
-0.3%
Q2 24
19.4%
-13.6%
Net Margin
AHR
AHR
CLW
CLW
Q1 26
-3.6%
Q4 25
1.9%
9.9%
Q3 25
10.5%
-13.4%
Q2 25
2.0%
0.7%
Q1 25
-1.4%
-1.7%
Q4 24
-6.4%
51.4%
Q3 24
-0.9%
1.5%
Q2 24
0.4%
-7.5%
EPS (diluted)
AHR
AHR
CLW
CLW
Q1 26
Q4 25
$0.07
$2.36
Q3 25
$0.33
$-3.30
Q2 25
$0.06
$0.17
Q1 25
$-0.04
$-0.38
Q4 24
$-0.23
$11.87
Q3 24
$-0.03
$0.35
Q2 24
$0.01
$-1.55

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
AHR
AHR
CLW
CLW
Cash + ST InvestmentsLiquidity on hand
$114.8M
$36.5M
Total DebtLower is stronger
$361.1M
Stockholders' EquityBook value
$3.3B
$813.8M
Total Assets
$5.4B
$1.6B
Debt / EquityLower = less leverage
0.44×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
AHR
AHR
CLW
CLW
Q1 26
$36.5M
Q4 25
$114.8M
$30.7M
Q3 25
$147.4M
$34.4M
Q2 25
$133.5M
$46.7M
Q1 25
$86.1M
$44.0M
Q4 24
$76.7M
$79.6M
Q3 24
$67.8M
$35.5M
Q2 24
$52.1M
$39.6M
Total Debt
AHR
AHR
CLW
CLW
Q1 26
$361.1M
Q4 25
$346.8M
Q3 25
$337.0M
Q2 25
$330.1M
Q1 25
Q4 24
$283.4M
Q3 24
$1.2B
Q2 24
$1.1B
Stockholders' Equity
AHR
AHR
CLW
CLW
Q1 26
$813.8M
Q4 25
$3.3B
$825.3M
Q3 25
$2.7B
$783.0M
Q2 25
$2.4B
$836.8M
Q1 25
$2.3B
$836.6M
Q4 24
$2.3B
$854.6M
Q3 24
$2.2B
$664.6M
Q2 24
$1.9B
$658.6M
Total Assets
AHR
AHR
CLW
CLW
Q1 26
$1.6B
Q4 25
$5.4B
$1.6B
Q3 25
$4.8B
$1.6B
Q2 25
$4.5B
$1.6B
Q1 25
$4.5B
$1.6B
Q4 24
$4.5B
$1.7B
Q3 24
$4.7B
$2.5B
Q2 24
$4.6B
$2.5B
Debt / Equity
AHR
AHR
CLW
CLW
Q1 26
0.44×
Q4 25
0.42×
Q3 25
0.43×
Q2 25
0.39×
Q1 25
Q4 24
0.33×
Q3 24
1.73×
Q2 24
1.74×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
AHR
AHR
CLW
CLW
Operating Cash FlowLast quarter
$55.2M
Free Cash FlowOCF − Capex
FCF MarginFCF / Revenue
Capex IntensityCapex / Revenue
Cash ConversionOCF / Net Profit
5.12×
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
AHR
AHR
CLW
CLW
Q1 26
Q4 25
$55.2M
$5.0M
Q3 25
$107.2M
$34.0M
Q2 25
$71.5M
$-28.2M
Q1 25
$60.6M
$1.5M
Q4 24
$59.5M
$-35.1M
Q3 24
$63.1M
$16.2M
Q2 24
$59.4M
$21.1M
Free Cash Flow
AHR
AHR
CLW
CLW
Q1 26
Q4 25
$-9.9M
Q3 25
$15.7M
Q2 25
$-51.1M
Q1 25
$-31.2M
Q4 24
$-68.1M
Q3 24
$-30.8M
Q2 24
$3.0M
FCF Margin
AHR
AHR
CLW
CLW
Q1 26
Q4 25
-2.6%
Q3 25
3.9%
Q2 25
-13.0%
Q1 25
-8.2%
Q4 24
-17.6%
Q3 24
-7.8%
Q2 24
0.9%
Capex Intensity
AHR
AHR
CLW
CLW
Q1 26
Q4 25
3.9%
Q3 25
4.6%
Q2 25
5.8%
Q1 25
8.6%
Q4 24
8.5%
Q3 24
12.0%
Q2 24
5.3%
Cash Conversion
AHR
AHR
CLW
CLW
Q1 26
Q4 25
5.12×
0.13×
Q3 25
1.92×
Q2 25
7.21×
-10.44×
Q1 25
Q4 24
-0.18×
Q3 24
2.79×
Q2 24
30.02×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

AHR
AHR

Integrated Senior Health Campuses$467.0M83%
SHOP$97.0M17%

CLW
CLW

Segment breakdown not available.

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