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Side-by-side financial comparison of American Healthcare REIT, Inc. (AHR) and Liberty Energy Inc. (LBRT). Click either name above to swap in a different company.
Liberty Energy Inc. is the larger business by last-quarter revenue ($1.0B vs $564.0M, roughly 1.8× American Healthcare REIT, Inc.). Liberty Energy Inc. runs the higher net margin — 2.2% vs 1.9%, a 0.3% gap on every dollar of revenue. On growth, American Healthcare REIT, Inc. posted the faster year-over-year revenue change (13.5% vs 4.5%). Over the past eight quarters, American Healthcare REIT, Inc.'s revenue compounded faster (11.7% CAGR vs -6.2%).
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...
Liberty Energy Inc. is a North American energy services provider specializing in hydraulic fracturing and well completion solutions for oil and gas operators. It serves clients across major U.S. shale basins, offering low-emission equipment and tailored support to optimize well productivity.
AHR vs LBRT — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $564.0M | $1.0B |
| Net Profit | $10.8M | $22.6M |
| Gross Margin | 14.8% | — |
| Operating Margin | 19.8% | 2.2% |
| Net Margin | 1.9% | 2.2% |
| Revenue YoY | 13.5% | 4.5% |
| Net Profit YoY | 133.9% | — |
| EPS (diluted) | $0.07 | $0.14 |
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 | — | $1.0B | ||
| Q4 25 | $564.0M | $1.0B | ||
| Q3 25 | $532.1M | $947.4M | ||
| Q2 25 | $501.3M | $1.0B | ||
| Q1 25 | $497.2M | $977.5M | ||
| Q4 24 | $496.8M | $943.6M | ||
| Q3 24 | $476.8M | $1.1B | ||
| Q2 24 | $458.0M | $1.2B |
| Q1 26 | — | $22.6M | ||
| Q4 25 | $10.8M | $13.7M | ||
| Q3 25 | $55.9M | $43.1M | ||
| Q2 25 | $9.9M | $71.0M | ||
| Q1 25 | $-6.8M | $20.1M | ||
| Q4 24 | $-31.8M | $51.9M | ||
| Q3 24 | $-4.1M | $73.8M | ||
| Q2 24 | $2.0M | $108.4M |
| Q1 26 | — | — | ||
| Q4 25 | 14.8% | 20.6% | ||
| Q3 25 | 14.6% | 18.7% | ||
| Q2 25 | 15.0% | 22.1% | ||
| Q1 25 | 13.0% | 22.1% | ||
| Q4 24 | 13.3% | 21.4% | ||
| Q3 24 | 12.5% | 26.2% | ||
| Q2 24 | 12.1% | 27.9% |
| Q1 26 | — | 2.2% | ||
| Q4 25 | 19.8% | 1.9% | ||
| Q3 25 | 19.9% | -0.3% | ||
| Q2 25 | 20.6% | 3.6% | ||
| Q1 25 | 19.0% | 1.9% | ||
| Q4 24 | 20.0% | 2.6% | ||
| Q3 24 | 19.6% | 9.4% | ||
| Q2 24 | 19.4% | 12.2% |
| Q1 26 | — | 2.2% | ||
| Q4 25 | 1.9% | 1.3% | ||
| Q3 25 | 10.5% | 4.5% | ||
| Q2 25 | 2.0% | 6.8% | ||
| Q1 25 | -1.4% | 2.1% | ||
| Q4 24 | -6.4% | 5.5% | ||
| Q3 24 | -0.9% | 6.5% | ||
| Q2 24 | 0.4% | 9.3% |
| Q1 26 | — | $0.14 | ||
| Q4 25 | $0.07 | $0.08 | ||
| Q3 25 | $0.33 | $0.26 | ||
| Q2 25 | $0.06 | $0.43 | ||
| Q1 25 | $-0.04 | $0.12 | ||
| Q4 24 | $-0.23 | $0.31 | ||
| Q3 24 | $-0.03 | $0.44 | ||
| Q2 24 | $0.01 | $0.64 |
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 | $699.1M |
| Total DebtLower is stronger | — | $7.1M |
| Stockholders' EquityBook value | $3.3B | $1.9B |
| Total Assets | $5.4B | $4.4B |
| Debt / EquityLower = less leverage | — | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $699.1M | ||
| Q4 25 | $114.8M | $27.6M | ||
| Q3 25 | $147.4M | $13.5M | ||
| Q2 25 | $133.5M | $19.6M | ||
| Q1 25 | $86.1M | $24.1M | ||
| Q4 24 | $76.7M | $20.0M | ||
| Q3 24 | $67.8M | $23.0M | ||
| Q2 24 | $52.1M | $30.0M |
| Q1 26 | — | $7.1M | ||
| Q4 25 | — | $246.6M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $190.5M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $1.9B | ||
| Q4 25 | $3.3B | $2.1B | ||
| Q3 25 | $2.7B | $2.1B | ||
| Q2 25 | $2.4B | $2.0B | ||
| Q1 25 | $2.3B | $2.0B | ||
| Q4 24 | $2.3B | $2.0B | ||
| Q3 24 | $2.2B | $2.0B | ||
| Q2 24 | $1.9B | $1.9B |
| Q1 26 | — | $4.4B | ||
| Q4 25 | $5.4B | $3.6B | ||
| Q3 25 | $4.8B | $3.5B | ||
| Q2 25 | $4.5B | $3.4B | ||
| Q1 25 | $4.5B | $3.4B | ||
| Q4 24 | $4.5B | $3.3B | ||
| Q3 24 | $4.7B | $3.3B | ||
| Q2 24 | $4.6B | $3.2B |
| Q1 26 | — | 0.00× | ||
| Q4 25 | — | 0.12× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.10× | ||
| 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 | — |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | 13.1% |
| Cash ConversionOCF / Net Profit | 5.12× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $55.2M | $195.4M | ||
| Q3 25 | $107.2M | $51.5M | ||
| Q2 25 | $71.5M | $170.6M | ||
| Q1 25 | $60.6M | $192.1M | ||
| Q4 24 | $59.5M | $177.3M | ||
| Q3 24 | $63.1M | $244.5M | ||
| Q2 24 | $59.4M | $248.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-10.0M | ||
| Q3 25 | — | $-67.2M | ||
| Q2 25 | — | $33.1M | ||
| Q1 25 | — | $58.2M | ||
| Q4 24 | — | $-26.2M | ||
| Q3 24 | — | $77.9M | ||
| Q2 24 | — | $112.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | -1.0% | ||
| Q3 25 | — | -7.1% | ||
| Q2 25 | — | 3.2% | ||
| Q1 25 | — | 6.0% | ||
| Q4 24 | — | -2.8% | ||
| Q3 24 | — | 6.8% | ||
| Q2 24 | — | 9.7% |
| Q1 26 | — | 13.1% | ||
| Q4 25 | — | 19.8% | ||
| Q3 25 | — | 12.5% | ||
| Q2 25 | — | 13.2% | ||
| Q1 25 | — | 13.7% | ||
| Q4 24 | — | 21.6% | ||
| Q3 24 | — | 14.6% | ||
| Q2 24 | — | 11.7% |
| Q1 26 | — | — | ||
| Q4 25 | 5.12× | 14.28× | ||
| Q3 25 | 1.92× | 1.20× | ||
| Q2 25 | 7.21× | 2.40× | ||
| Q1 25 | — | 9.55× | ||
| Q4 24 | — | 3.42× | ||
| Q3 24 | — | 3.31× | ||
| Q2 24 | 30.02× | 2.29× |
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% |
LBRT
Segment breakdown not available.
