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Side-by-side financial comparison of American Healthcare REIT, Inc. (AHR) and WYNDHAM HOTELS & RESORTS, INC. (WH). 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 $334.0M, roughly 1.7× WYNDHAM HOTELS & RESORTS, INC.). American Healthcare REIT, Inc. runs the higher net margin — 1.9% vs -18.0%, a 19.9% gap on every dollar of revenue. On growth, American Healthcare REIT, Inc. posted the faster year-over-year revenue change (13.5% vs -76.3%). Over the past eight quarters, American Healthcare REIT, Inc.'s revenue compounded faster (11.7% CAGR vs -4.6%).
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...
Wyndham Hotels & Resorts, Inc., is an American hospitality company based in Parsippany, New Jersey, United States. It describes itself as the largest hotel franchisor in the world, with 9,100 locations.
AHR vs WH — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $564.0M | $334.0M |
| Net Profit | $10.8M | $-60.0M |
| Gross Margin | 14.8% | — |
| Operating Margin | 19.8% | — |
| Net Margin | 1.9% | -18.0% |
| Revenue YoY | 13.5% | -76.3% |
| Net Profit YoY | 133.9% | -170.6% |
| EPS (diluted) | $0.07 | $-0.80 |
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 | — | $334.0M | ||
| Q4 25 | $564.0M | $334.0M | ||
| Q3 25 | $532.1M | $382.0M | ||
| Q2 25 | $501.3M | $397.0M | ||
| Q1 25 | $497.2M | $316.0M | ||
| Q4 24 | $496.8M | $336.0M | ||
| Q3 24 | $476.8M | $396.0M | ||
| Q2 24 | $458.0M | $367.0M |
| Q1 26 | — | $-60.0M | ||
| Q4 25 | $10.8M | $-60.0M | ||
| Q3 25 | $55.9M | $105.0M | ||
| Q2 25 | $9.9M | $87.0M | ||
| Q1 25 | $-6.8M | $61.0M | ||
| Q4 24 | $-31.8M | $85.0M | ||
| Q3 24 | $-4.1M | $102.0M | ||
| Q2 24 | $2.0M | $86.0M |
| Q1 26 | — | — | ||
| Q4 25 | 14.8% | — | ||
| Q3 25 | 14.6% | — | ||
| Q2 25 | 15.0% | — | ||
| Q1 25 | 13.0% | — | ||
| Q4 24 | 13.3% | — | ||
| Q3 24 | 12.5% | — | ||
| Q2 24 | 12.1% | — |
| Q1 26 | — | — | ||
| Q4 25 | 19.8% | -11.4% | ||
| Q3 25 | 19.9% | 46.6% | ||
| Q2 25 | 20.6% | 37.8% | ||
| Q1 25 | 19.0% | 35.4% | ||
| Q4 24 | 20.0% | 38.4% | ||
| Q3 24 | 19.6% | 43.2% | ||
| Q2 24 | 19.4% | 39.5% |
| Q1 26 | — | -18.0% | ||
| Q4 25 | 1.9% | -18.0% | ||
| Q3 25 | 10.5% | 27.5% | ||
| Q2 25 | 2.0% | 21.9% | ||
| Q1 25 | -1.4% | 19.3% | ||
| Q4 24 | -6.4% | 25.3% | ||
| Q3 24 | -0.9% | 25.8% | ||
| Q2 24 | 0.4% | 23.4% |
| Q1 26 | — | $-0.80 | ||
| Q4 25 | $0.07 | $-0.77 | ||
| Q3 25 | $0.33 | $1.36 | ||
| Q2 25 | $0.06 | $1.13 | ||
| Q1 25 | $-0.04 | $0.78 | ||
| Q4 24 | $-0.23 | $1.06 | ||
| Q3 24 | $-0.03 | $1.29 | ||
| Q2 24 | $0.01 | $1.07 |
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 | $64.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.3B | $468.0M |
| Total Assets | $5.4B | $4.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $64.0M | ||
| Q4 25 | $114.8M | $64.0M | ||
| Q3 25 | $147.4M | $70.0M | ||
| Q2 25 | $133.5M | $50.0M | ||
| Q1 25 | $86.1M | $48.0M | ||
| Q4 24 | $76.7M | $103.0M | ||
| Q3 24 | $67.8M | $72.0M | ||
| Q2 24 | $52.1M | $70.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $2.5B | ||
| Q3 25 | — | $2.6B | ||
| Q2 25 | — | $2.5B | ||
| Q1 25 | — | $2.5B | ||
| Q4 24 | — | $2.4B | ||
| Q3 24 | — | $2.4B | ||
| Q2 24 | — | $2.4B |
| Q1 26 | — | $468.0M | ||
| Q4 25 | $3.3B | $468.0M | ||
| Q3 25 | $2.7B | $583.0M | ||
| Q2 25 | $2.4B | $570.0M | ||
| Q1 25 | $2.3B | $579.0M | ||
| Q4 24 | $2.3B | $650.0M | ||
| Q3 24 | $2.2B | $583.0M | ||
| Q2 24 | $1.9B | $623.0M |
| Q1 26 | — | $4.2B | ||
| Q4 25 | $5.4B | $4.2B | ||
| Q3 25 | $4.8B | $4.3B | ||
| Q2 25 | $4.5B | $4.3B | ||
| Q1 25 | $4.5B | $4.2B | ||
| Q4 24 | $4.5B | $4.2B | ||
| Q3 24 | $4.7B | $4.2B | ||
| Q2 24 | $4.6B | $4.2B |
| Q1 26 | — | — | ||
| Q4 25 | — | 5.37× | ||
| Q3 25 | — | 4.43× | ||
| Q2 25 | — | 4.44× | ||
| Q1 25 | — | 4.29× | ||
| Q4 24 | — | 3.72× | ||
| Q3 24 | — | 4.19× | ||
| Q2 24 | — | 3.83× |
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 | $367.0M |
| Free Cash FlowOCF − Capex | — | $168.0M |
| FCF MarginFCF / Revenue | — | 50.3% |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 5.12× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $437.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $367.0M | ||
| Q4 25 | $55.2M | $152.0M | ||
| Q3 25 | $107.2M | $86.0M | ||
| Q2 25 | $71.5M | $70.0M | ||
| Q1 25 | $60.6M | $59.0M | ||
| Q4 24 | $59.5M | $134.0M | ||
| Q3 24 | $63.1M | $79.0M | ||
| Q2 24 | $59.4M | $1.0M |
| Q1 26 | — | $168.0M | ||
| Q4 25 | — | $136.0M | ||
| Q3 25 | — | $75.0M | ||
| Q2 25 | — | $58.0M | ||
| Q1 25 | — | $52.0M | ||
| Q4 24 | — | $109.0M | ||
| Q3 24 | — | $71.0M | ||
| Q2 24 | — | $-6.0M |
| Q1 26 | — | 50.3% | ||
| Q4 25 | — | 40.7% | ||
| Q3 25 | — | 19.6% | ||
| Q2 25 | — | 14.6% | ||
| Q1 25 | — | 16.5% | ||
| Q4 24 | — | 32.4% | ||
| Q3 24 | — | 17.9% | ||
| Q2 24 | — | -1.6% |
| Q1 26 | — | — | ||
| Q4 25 | — | 4.8% | ||
| Q3 25 | — | 2.9% | ||
| Q2 25 | — | 3.0% | ||
| Q1 25 | — | 2.2% | ||
| Q4 24 | — | 7.4% | ||
| Q3 24 | — | 2.0% | ||
| Q2 24 | — | 1.9% |
| Q1 26 | — | — | ||
| Q4 25 | 5.12× | — | ||
| Q3 25 | 1.92× | 0.82× | ||
| Q2 25 | 7.21× | 0.80× | ||
| Q1 25 | — | 0.97× | ||
| Q4 24 | — | 1.58× | ||
| Q3 24 | — | 0.77× | ||
| Q2 24 | 30.02× | 0.01× |
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% |
WH
| Fee-related and other revenues | $334.0M | 100% |
| Management and other fees | $2.0M | 1% |
