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Side-by-side financial comparison of American Healthcare REIT, Inc. (AHR) and PROCORE TECHNOLOGIES, INC. (PCOR). 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 $349.1M, roughly 1.6× PROCORE TECHNOLOGIES, INC.). American Healthcare REIT, Inc. runs the higher net margin — 1.9% vs -10.8%, a 12.7% gap on every dollar of revenue. On growth, PROCORE TECHNOLOGIES, INC. posted the faster year-over-year revenue change (15.6% vs 13.5%). Over the past eight quarters, PROCORE TECHNOLOGIES, INC.'s revenue compounded faster (13.8% CAGR vs 11.7%).
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...
Procore Technologies is an American construction management software as a service company founded in 2002, with headquarters in Carpinteria, California. Procore hosts a platform to connect those involved in the construction industry on a global platform. The software allows for the creation of simplified workflows and displays a consolidated view of construction products that includes the tracking of tasks, management of project workflows, and scheduling.
AHR vs PCOR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $564.0M | $349.1M |
| Net Profit | $10.8M | $-37.6M |
| Gross Margin | 14.8% | 80.1% |
| Operating Margin | 19.8% | -12.3% |
| Net Margin | 1.9% | -10.8% |
| Revenue YoY | 13.5% | 15.6% |
| Net Profit YoY | 133.9% | 39.6% |
| EPS (diluted) | $0.07 | $-0.25 |
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 | $349.1M | ||
| Q3 25 | $532.1M | $338.9M | ||
| Q2 25 | $501.3M | $323.9M | ||
| Q1 25 | $497.2M | $310.6M | ||
| Q4 24 | $496.8M | $302.0M | ||
| Q3 24 | $476.8M | $295.9M | ||
| Q2 24 | $458.0M | $284.3M | ||
| Q1 24 | $452.1M | $269.4M |
| Q4 25 | $10.8M | $-37.6M | ||
| Q3 25 | $55.9M | $-9.1M | ||
| Q2 25 | $9.9M | $-21.1M | ||
| Q1 25 | $-6.8M | $-33.0M | ||
| Q4 24 | $-31.8M | $-62.3M | ||
| Q3 24 | $-4.1M | $-26.4M | ||
| Q2 24 | $2.0M | $-6.3M | ||
| Q1 24 | $-3.9M | $-11.0M |
| Q4 25 | 14.8% | 80.1% | ||
| Q3 25 | 14.6% | 79.7% | ||
| Q2 25 | 15.0% | 79.1% | ||
| Q1 25 | 13.0% | 79.1% | ||
| Q4 24 | 13.3% | 81.2% | ||
| Q3 24 | 12.5% | 81.4% | ||
| Q2 24 | 12.1% | 83.1% | ||
| Q1 24 | 10.7% | 83.0% |
| Q4 25 | 19.8% | -12.3% | ||
| Q3 25 | 19.9% | -4.4% | ||
| Q2 25 | 20.6% | -9.3% | ||
| Q1 25 | 19.0% | -11.7% | ||
| Q4 24 | 20.0% | -21.9% | ||
| Q3 24 | 19.6% | -12.3% | ||
| Q2 24 | 19.4% | -5.2% | ||
| Q1 24 | 18.2% | -7.0% |
| Q4 25 | 1.9% | -10.8% | ||
| Q3 25 | 10.5% | -2.7% | ||
| Q2 25 | 2.0% | -6.5% | ||
| Q1 25 | -1.4% | -10.6% | ||
| Q4 24 | -6.4% | -20.6% | ||
| Q3 24 | -0.9% | -8.9% | ||
| Q2 24 | 0.4% | -2.2% | ||
| Q1 24 | -0.9% | -4.1% |
| Q4 25 | $0.07 | $-0.25 | ||
| Q3 25 | $0.33 | $-0.06 | ||
| Q2 25 | $0.06 | $-0.14 | ||
| Q1 25 | $-0.04 | $-0.22 | ||
| Q4 24 | $-0.23 | $-0.42 | ||
| Q3 24 | $-0.03 | $-0.18 | ||
| Q2 24 | $0.01 | $-0.04 | ||
| Q1 24 | $-0.04 | $-0.08 |
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 | $768.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.3B | $1.3B |
| Total Assets | $5.4B | $2.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $114.8M | $768.5M | ||
| Q3 25 | $147.4M | $684.0M | ||
| Q2 25 | $133.5M | $620.9M | ||
| Q1 25 | $86.1M | $566.7M | ||
| Q4 24 | $76.7M | $775.4M | ||
| Q3 24 | $67.8M | $756.9M | ||
| Q2 24 | $52.1M | $735.4M | ||
| Q1 24 | $77.0M | $744.6M |
| Q4 25 | $3.3B | $1.3B | ||
| Q3 25 | $2.7B | $1.2B | ||
| Q2 25 | $2.4B | $1.2B | ||
| Q1 25 | $2.3B | $1.2B | ||
| Q4 24 | $2.3B | $1.3B | ||
| Q3 24 | $2.2B | $1.3B | ||
| Q2 24 | $1.9B | $1.3B | ||
| Q1 24 | $2.0B | $1.2B |
| Q4 25 | $5.4B | $2.2B | ||
| Q3 25 | $4.8B | $2.1B | ||
| Q2 25 | $4.5B | $2.0B | ||
| Q1 25 | $4.5B | $1.9B | ||
| Q4 24 | $4.5B | $2.1B | ||
| Q3 24 | $4.7B | $2.0B | ||
| Q2 24 | $4.6B | $2.0B | ||
| Q1 24 | $4.7B | $1.9B |
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 | $114.9M |
| Free Cash FlowOCF − Capex | — | $109.2M |
| FCF MarginFCF / Revenue | — | 31.3% |
| Capex IntensityCapex / Revenue | — | 1.6% |
| Cash ConversionOCF / Net Profit | 5.12× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $282.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $55.2M | $114.9M | ||
| Q3 25 | $107.2M | $88.5M | ||
| Q2 25 | $71.5M | $30.8M | ||
| Q1 25 | $60.6M | $66.0M | ||
| Q4 24 | $59.5M | $29.1M | ||
| Q3 24 | $63.1M | $39.3M | ||
| Q2 24 | $59.4M | $58.7M | ||
| Q1 24 | $-6.0M | $69.1M |
| Q4 25 | — | $109.2M | ||
| Q3 25 | — | $83.1M | ||
| Q2 25 | — | $27.9M | ||
| Q1 25 | — | $62.0M | ||
| Q4 24 | — | $17.4M | ||
| Q3 24 | — | $35.7M | ||
| Q2 24 | — | $56.8M | ||
| Q1 24 | — | $67.1M |
| Q4 25 | — | 31.3% | ||
| Q3 25 | — | 24.5% | ||
| Q2 25 | — | 8.6% | ||
| Q1 25 | — | 20.0% | ||
| Q4 24 | — | 5.8% | ||
| Q3 24 | — | 12.1% | ||
| Q2 24 | — | 20.0% | ||
| Q1 24 | — | 24.9% |
| Q4 25 | — | 1.6% | ||
| Q3 25 | — | 1.6% | ||
| Q2 25 | — | 0.9% | ||
| Q1 25 | — | 1.3% | ||
| Q4 24 | — | 3.9% | ||
| Q3 24 | — | 1.2% | ||
| Q2 24 | — | 0.7% | ||
| Q1 24 | — | 0.8% |
| Q4 25 | 5.12× | — | ||
| Q3 25 | 1.92× | — | ||
| Q2 25 | 7.21× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 30.02× | — | ||
| Q1 24 | — | — |
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% |
PCOR
| US | $298.3M | 85% |
| Non Us | $50.9M | 15% |
