OHI Real Estate

Omega Healthcare Investors, Inc.

$47.53+1.13%

Price as of close on Nov 3, 2026 · Financials updated Oct 10, 2026

Basics

Sector: Real Estate
Industry: REIT - Healthcare Facilities
Country: United States
Market cap: 15.2B USD
Enterprise value: 18.0B USD
Full-time employees: 69

Overall health

Drawback: less short-term liquidity (current ratio 0.44 vs a peer median of 1.20)less liquidity (current ratio 0.44 vs peers 1.20)
About average: valuation and risk (debt, liquidity and share-price swings)valuation and risk

Ranks #139 of 632 real estate companies (top 22%)

See how it ranks against its peers

Worth knowing

Shareholders being diluted. Shares outstanding up 29% from December 2022 to July 2026.
Omega Healthcare Investors had 29% more shares at July 2026 than at December 2022, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.Omega Healthcare Investors had 29% more shares at July 2026 than at December 2022, mostly from issuing stock. Each existing share now owns a smaller slice of the business.
Operating margin at a 6-year high. 42% in 2025, the best of the last 6 years.
Omega Healthcare Investors kept 42% of revenue as operating profit in 2025, its highest in the 6 years of filings we have.
Profit recovered from an unusually weak 2022. Since 2022 (an unusually weak year for operating profit): revenue +36%, operating profit +539%.Since 2022: revenue +36%, operating profit +539%.
Since 2022, Omega Healthcare Investors's revenue grew 36% while operating profit grew 539%: each extra dollar of sales is adding more profit.
Cash flow well above reported profit. Free cash flow is 3.0× reported profit.
Free cash flow is 3.0× reported profit. Large non-cash charges, such as depreciation, amortization or stock-based pay, reduce reported profit without using cash.

StockQuotient Score

66/ 100

Oct 5 65 → Nov 4 66 (+1)

Valuation

Is the price right?

44/100

Moderate▼ 2 since Oct 27 close

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why it changed since the Oct 27, 2026 close: Score 46 → 44

Share price +3.0%-3
Company's reported figures updated+1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Mixed versus peers:

▲ EBITDA yield
▼ Earnings yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield1.9%

SEC filings · 12 months to Jun 2026Reported value30% base weight · Z-score -0.72Sector median: 0.0535 · MAD: 0.0484

EBITDA yield6.1%

Yahoo Finance fallback · SEC enterprise value unavailable (debt or EBITDA not reported in standard form) · trailing 12 monthsReported value50% base weight · Z-score 0.36Sector median: 0.0536 · MAD: 0.0204

Free cash flow yield5.7%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingReported value20% base weight · Z-score -0.19Sector median: 0.0650 · MAD: 0.0444

Other data (not scored)

Book yield37.4%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 1.1277 · MAD: 0.5490

Growth

Is it growing?

97/100

Strong

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 3.7%

Why

Stronger than most peers on:

▲ EPS growth
▲ 3-yr revenue
▲ Revenue growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth303.8%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 9.44Sector median: 0.1117 · MAD: 0.3101

3-year revenue growth14.6%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score 1.45Sector median: 0.0378 · MAD: 0.0744

Revenue growth15.0%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 1.30Sector median: 0.0297 · MAD: 0.0927

Profitability

Does it earn well?

79/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

Net margin rose 17.5 points to 21.0%

Why

Stronger than most peers on:

▲ Operating margin
▲ ROIC
▲ ROA

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin62.5%

Yahoo Finance fallback · SEC operating income not reported in standard form · fiscal year to Dec 2025Reported value33% base weight · Z-score 1.58Sector median: 0.2683 · MAD: 0.2257

Return on assets2.7%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.43Sector median: 0.0211 · MAD: 0.0134

Return on invested capital6.5%

Yahoo Finance fallback · SEC operating income or invested capital unavailable · trailing 12 monthsReported value33% base weight · Z-score 1.56Sector median: 0.0341 · MAD: 0.0197

Other data (not scored)

Gross margin97.9%

Yahoo Finance fallback · SEC figure unavailable or out of date · trailing 12 monthsOutlier capped at sector 5th/95th percentileInformational · 0% composite weightSector median: 0.5380 · MAD: 0.2259

Return on equity5.0%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0521 · MAD: 0.0465

Risk

Debt, liquidity, price swings

Moderate

Moderate relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why it changed since the Oct 27, 2026 close: Safety percentile 43 → 44

Peer companies moved+1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Mixed versus peers:

▲ Beta
▼ Current ratio

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta0.53

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score 0.68Sector median: 0.7490 · MAD: 0.3270

Current ratio0.44×

Yahoo Finance fallback · SEC figure unavailable or out of dateReported value33% base weight · Z-score -1.04Sector median: 1.1950 · MAD: 0.7210

Debt / equity0.82×

SEC filings · latest balance sheetReported value33% base weight · Z-score -0.04Sector median: 0.8040 · MAD: 0.3893

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Omega Healthcare Investors

Is Omega Healthcare Investors getting weaker?: Its latest SEC filing (Jul 30, 2026) got stronger: net margin rose 17.5 points to 21.0%. Its overall score is unchanged at 66/100 since Oct 28, 2026.
How is Omega Healthcare Investors valued vs its peers?: Priced about in line with its peers. Valuation scores 44/100 against 762 real estate peers. EBITDA yield 6.1% vs a peer median of 5.4% (stronger than 61% of peers).EBITDA yield 6.1% vs peers 5.4% (stronger than 61% of peers). Earnings yield 1.9% vs a peer median of 5.3% (weaker than 70% of peers).Earnings yield 1.9% vs peers 5.3% (weaker than 70% of peers).
Is Omega Healthcare Investors growing?: Yes, faster than most of its peers. Growth scores 97/100 against 762 real estate peers. Earnings per share growth 303.8% vs a peer median of 11.2% (stronger than 95% of peers).Earnings per share growth 303.8% vs peers 11.2% (stronger than 95% of peers).
How profitable is Omega Healthcare Investors?: More profitable than most of its peers. Profitability scores 79/100 against 762 real estate peers. Operating margin 62.5% vs a peer median of 26.8% (stronger than 83% of peers).Operating margin 62.5% vs peers 26.8% (stronger than 83% of peers).
How risky is Omega Healthcare Investors?: Moderate risk relative to 762 real estate peers, judged on debt, liquidity and share-price swings. Beta 0.53 vs a peer median of 0.75 (stronger than 67% of peers).Beta 0.53 vs peers 0.75 (stronger than 67% of peers). Current ratio 0.44× vs a peer median of 1.20× (weaker than 80% of peers).Current ratio 0.44× vs peers 1.20× (weaker than 80% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Jul 30, 2026 · compared with the quarter ended Mar 31, 2026

Got stronger

Net margin rose 17.5 points to 21.0%

	Previous quarter	Latest quarter	Change
Revenue (12 months)	1.2B USD	1.3B USD	+3.7%
Net income (12 months)	42.6M USD	268.9M USD	+530.7%
Free cash flow (12 months)	842.6M USD	816.0M USD	−3.2%
Cash	26.1M USD	39.0M USD	+49.3%
Shares outstanding	297.8M	303.0M	+1.7%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Sector: Real Estate · 124 companies

Valuations in Real Estate are within their usual range since 2016.

30% of months since 2016 were valued lower than now.
15% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +4% and earnings +25% (medians): earnings grew faster than prices.
Median price-to-sales is +112% vs the whole market, against a usual +154%.

2016Shaded: most expensive fifth of its range2026

Shown for Real Estate: too few REIT - Healthcare Facilities companies have a long enough history of their own.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Operating margin	26.9%	8.9%	16.4%	39.0%	42.2%	▲ 3.1 pts
Net margin	40.3%	50.0%	25.5%	38.6%	49.6%	▲ 11 pts
Return on assets (ROA)	4.4%	4.7%	2.7%	4.1%	5.9%	▲ 1.8 pts
Return on equity (ROE)	11.0%	12.2%	6.8%	9.0%	11.4%	▲ 2.4 pts
Free cash flow margin	63.7%	65.9%	61.0%	67.7%	67.0%	▼ 0.7 pts
Debt to equity	1.34×	1.46×	1.42×	1.07×	0.82×	▼ 23%
Interest coverage	1.22×	0.34×	0.66×	1.85×	2.33×	▲ 26%

OHI price history

Price history is added with the daily price update and will appear after the next one.

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Sector leaderboards

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Bringing the fundamentals into focus…

Overall health

Drawback: less short-term liquidity (current ratio 0.44 vs a peer median of 1.20)less liquidity (current ratio 0.44 vs peers 1.20)

About average: valuation and risk (debt, liquidity and share-price swings)valuation and risk

Ranks #139 of 632 real estate companies (top 22%)

See how it ranks against its peers

Worth knowing

Shareholders being diluted. Shares outstanding up 29% from December 2022 to July 2026.

Omega Healthcare Investors had 29% more shares at July 2026 than at December 2022, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.Omega Healthcare Investors had 29% more shares at July 2026 than at December 2022, mostly from issuing stock. Each existing share now owns a smaller slice of the business.

Operating margin at a 6-year high. 42% in 2025, the best of the last 6 years.

Omega Healthcare Investors kept 42% of revenue as operating profit in 2025, its highest in the 6 years of filings we have.

Profit recovered from an unusually weak 2022. Since 2022 (an unusually weak year for operating profit): revenue +36%, operating profit +539%.Since 2022: revenue +36%, operating profit +539%.

Since 2022, Omega Healthcare Investors's revenue grew 36% while operating profit grew 539%: each extra dollar of sales is adding more profit.

Cash flow well above reported profit. Free cash flow is 3.0× reported profit.

Free cash flow is 3.0× reported profit. Large non-cash charges, such as depreciation, amortization or stock-based pay, reduce reported profit without using cash.

Questions investors ask about Omega Healthcare Investors

Is Omega Healthcare Investors getting weaker?

Its latest SEC filing (Jul 30, 2026) got stronger: net margin rose 17.5 points to 21.0%. Its overall score is unchanged at 66/100 since Oct 28, 2026.

How is Omega Healthcare Investors valued vs its peers?

Priced about in line with its peers. Valuation scores 44/100 against 762 real estate peers. EBITDA yield 6.1% vs a peer median of 5.4% (stronger than 61% of peers).EBITDA yield 6.1% vs peers 5.4% (stronger than 61% of peers). Earnings yield 1.9% vs a peer median of 5.3% (weaker than 70% of peers).Earnings yield 1.9% vs peers 5.3% (weaker than 70% of peers).

Is Omega Healthcare Investors growing?

Yes, faster than most of its peers. Growth scores 97/100 against 762 real estate peers. Earnings per share growth 303.8% vs a peer median of 11.2% (stronger than 95% of peers).Earnings per share growth 303.8% vs peers 11.2% (stronger than 95% of peers).

How profitable is Omega Healthcare Investors?

More profitable than most of its peers. Profitability scores 79/100 against 762 real estate peers. Operating margin 62.5% vs a peer median of 26.8% (stronger than 83% of peers).Operating margin 62.5% vs peers 26.8% (stronger than 83% of peers).

How risky is Omega Healthcare Investors?

Moderate risk relative to 762 real estate peers, judged on debt, liquidity and share-price swings. Beta 0.53 vs a peer median of 0.75 (stronger than 67% of peers).Beta 0.53 vs peers 0.75 (stronger than 67% of peers). Current ratio 0.44× vs a peer median of 1.20× (weaker than 80% of peers).Current ratio 0.44× vs peers 1.20× (weaker than 80% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

1.2B USD

1.3B USD

+3.7%

Net income (12 months)

42.6M USD

268.9M USD

+530.7%

Free cash flow (12 months)

842.6M USD

816.0M USD

−3.2%

Cash

26.1M USD

39.0M USD

+49.3%

Shares outstanding

297.8M

303.0M

+1.7%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Operating margin

26.9%

8.9%

16.4%

39.0%

42.2%

▲ 3.1 pts

Net margin

40.3%

50.0%

25.5%

38.6%

49.6%

▲ 11 pts

Return on assets (ROA)

4.4%

4.7%

2.7%

4.1%

5.9%

▲ 1.8 pts

Return on equity (ROE)

11.0%

12.2%

6.8%

9.0%

11.4%

▲ 2.4 pts

Free cash flow margin

63.7%

65.9%

61.0%

67.7%

67.0%

▼ 0.7 pts

Debt to equity

1.34×

1.46×

1.42×

1.07×

0.82×

▼ 23%

Interest coverage

1.22×

0.34×

0.66×

1.85×

2.33×

▲ 26%