NASDAQ : DHC
Diversified Healthcare Trust — Financial statements
Real Estate · REIT - Healthcare Facilities · United States
Last price 7.78 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 1.88B
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Rental Revenue | 208.19M | 225.20M | 251.04M | 258.40M | 260.74M | 408.59M |
| Other Revenue | 1.29B | 1.31B | 1.24B | 1.15B | 1.02B | 974.62M |
| Total Revenue | 1.50B | 1.54B | 1.50B | 1.41B | 1.28B | 1.38B |
| Property Expenses | 1.22B | 1.27B | 1.24B | 1.19B | 1.11B | 1.11B |
| Selling, General & Administrative | 58.70M | 45.50M | 26.52M | 26.13M | 26.43M | 34.09M |
| Depreciation & Amortization | 252.79M | 261.92M | 284.96M | 284.08M | 239.28M | 271.13M |
| Total Operating Expenses | 1.53B | 1.58B | 1.55B | 1.50B | 1.38B | 1.41B |
| Operating Income | -32.32M | -39.27M | -55.10M | -84.91M | -93.82M | -31.32M |
| Interest Expense | -169.87M | -204.50M | -235.24M | -191.78M | -209.38M | -255.76M |
| Interest & Investment Income | 1.25M | 5.84M | 8.95M | 13.96M | 11.63M | 1.03M |
| Income (Loss) on Equity Investments | 34.14M | 36.76M | 1.60M | -20.46M | 6.05M | |
| EBT Excluding Unusual Items | -166.80M | -201.17M | -279.79M | -283.19M | -285.52M | -286.05M |
| Gain (Loss) on Sale of Investments | 8.13M | -25.66M | -42.23M | |||
| Gain (Loss) on Sale of Assets | 13.18M | 117.73M | -18.94M | 1.21M | 321.86M | 492.27M |
| Total Insurance Settlements | 7.52M | |||||
| Asset Writedown | -96.24M | -165.70M | -70.73M | -18.38M | 174.00K | |
| Other Unusual Items | -13.33M | -42.53M | -324.00K | -887.00K | -25.74M | 17.19M |
| Pretax Income | -263.19M | -284.14M | -369.79M | -293.13M | -15.06M | 181.36M |
| Income Tax Expense | 2.77M | 1.74M | 467.00K | 445.00K | 710.00K | 1.43M |
| Earnings From Continuing Operations | -265.95M | -285.89M | -370.25M | -293.57M | -15.77M | 179.93M |
| Net Income to Company | -265.95M | -285.89M | -370.25M | -293.57M | -15.77M | 179.93M |
| Minority Interest in Earnings | -5.41M | |||||
| Net Income | -265.95M | -285.89M | -370.25M | -293.57M | -15.77M | 174.51M |
| Net Income to Common | -265.95M | -285.89M | -370.25M | -293.57M | -15.77M | 174.51M |
| Basic Shares Outstanding | 240.62M | 240.29M | 239.53M | 238.84M | 238.31M | 237.97M |
| Diluted Shares Outstanding | 240.62M | 240.29M | 239.53M | 238.84M | 238.31M | 237.97M |
| EPS (Basic) | -1.11 | -1.19 | -1.55 | -1.23 | -0.07 | 0.73 |
| EPS (Diluted) | -1.11 | -1.19 | -1.55 | -1.23 | -0.07 | 0.73 |
| Dividend Per Share | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 |
| Operating Margin | -2.15% | -2.55% | -3.69% | -6.02% | -7.31% | -2.27% |
| Profit Margin | -17.73% | -18.59% | -24.76% | -20.82% | -1.23% | 12.62% |
| EBITDA | 220.59M | 222.77M | 229.96M | 198.93M | 145.70M | 232.60M |
| EBITDA Margin | 14.70% | 14.49% | 15.38% | 14.11% | 11.35% | 16.82% |
| D&A For Ebitda | 252.91M | 262.04M | 285.06M | 283.84M | 239.53M | 263.92M |
| EBIT | -32.32M | -39.27M | -55.10M | -84.91M | -93.82M | -31.32M |
| EBIT Margin | -2.15% | -2.55% | -3.68% | -6.02% | -7.31% | -2.26% |
| Funds From Operations (FFO) | 47.62M | 2.60M | 25.59M | 26.17M | -74.95M | -30.90M |
| FFO Per Share | -0.31 | -0.13 | ||||
| Adjusted Funds From Operations (AFFO) | 2.60M | 25.59M | 26.17M | -74.95M | -30.90M | |
| AFFO Per Share | -0.31 | -0.13 | ||||
| FFO Payout Ratio | 20.32% | 372.01% | 37.62% | 36.66% | ||
| Effective Tax Rate | 0.79% | |||||
| Revenue as Reported | 1.50B | 1.54B | 1.50B | 1.41B | 1.28B | 1.38B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Property, Plant & Equipment | 3.81B | 3.88B | 4.36B | 4.82B | 4.89B | 5.08B |
| Cash & Equivalents | 116.79M | 105.41M | 144.58M | 245.94M | 658.07M | 634.85M |
| Accounts Receivable | 62.02M | 62.16M | 69.81M | 75.31M | 76.36M | 82.13M |
| Other Receivables | 3.97M | 4.06M | 6.08M | 8.72M | ||
| Investment In Debt and Equity Securities | 5.88M | 31.54M | ||||
| Other Intangible Assets | 18.46M | 20.66M | 26.30M | 33.95M | 45.35M | 48.75M |
| Restricted Cash | 19.40M | 16.39M | 5.27M | 1.02M | 30.24M | 382.10M |
| Other Current Assets | 23.09M | 276.27M | 9.45M | 385.00K | ||
| Deferred Long-Term Charges | 3.96M | 32.26M | 36.91M | 42.99M | 42.96M | 51.66M |
| Other Long-Term Assets | 206.72M | 221.87M | 213.30M | 210.41M | 243.43M | 312.58M |
| Total Assets | 4.24B | 4.36B | 5.14B | 5.45B | 6.00B | 6.62B |
| Current Portion of Long-Term Debt | 618.00K | |||||
| Current Portion of Leases | 613.00K | |||||
| Long-Term Debt | 2.40B | 2.40B | 2.91B | 2.81B | 3.04B | 3.67B |
| Long-Term Leases | 15.10M | 16.92M | 22.75M | 27.66M | 32.23M | 10.99M |
| Accrued Expenses | 29.20M | 30.68M | 23.09M | 22.85M | 29.42M | 29.84M |
| Other Current Liabilities | 3.43M | 6.02M | 32.00K | |||
| Other Long-Term Liabilities | 208.74M | 243.83M | 217.73M | 245.77M | 259.30M | 250.40M |
| Total Liabilities | 2.66B | 2.70B | 3.18B | 3.11B | 3.36B | 3.96B |
| Common Stock | 2.42M | 2.42M | 2.41M | 2.40M | 2.40M | 2.39M |
| Additional Paid-In Capital | 4.63B | 4.62B | 4.62B | 4.62B | 4.62B | 4.62B |
| Distributions in Excess of Earnings | -3.04B | -2.96B | -2.66B | -2.28B | -1.98B | -1.96B |
| Comprehensive Income & Other | -55.00K | -12.00K | -17.00K | |||
| Total Common Equity | 1.58B | 1.67B | 1.96B | 2.34B | 2.64B | 2.66B |
| Shareholders' Equity | 1.58B | 1.67B | 1.96B | 2.34B | 2.64B | 2.66B |
| Total Liabilities & Equity | 4.24B | 4.36B | 5.14B | 5.45B | 6.00B | 6.62B |
| Total Debt | 2.42B | 2.42B | 2.93B | 2.84B | 3.07B | 3.68B |
| Net Cash (Debt) | -2.30B | -2.31B | -2.79B | -2.59B | -2.42B | -3.05B |
| Net Cash Per Share | -9.56 | -9.62 | -11.63 | -10.86 | -10.14 | -12.80 |
| Filing Date Shares Outstanding | 242.13M | 242.12M | 241.27M | 240.42M | 239.68M | 238.99M |
| Total Common Shares Outstanding | 242.19M | 242.12M | 241.27M | 240.42M | 239.69M | 238.99M |
| Book Value Per Share | 6.54 | 6.88 | 8.12 | 9.72 | 11.01 | 11.14 |
| Tangible Book Value | 1.56B | 1.64B | 1.93B | 2.30B | 2.59B | 2.61B |
| Tangible Book Value Per Share | 6.46 | 6.79 | 8.01 | 9.58 | 10.82 | 10.94 |
| Land | 557.90M | 542.40M | 605.97M | 652.98M | 668.92M | 741.50M |
| Buildings | 5.44B | 5.41B | 5.82B | 6.17B | 6.02B | 6.07B |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -265.95M | -285.89M | -370.25M | -293.57M | -15.77M | 174.51M |
| Depreciation & Amortization | 252.91M | 262.04M | 285.06M | 283.84M | 239.53M | 263.92M |
| Other Amortization | 36.61M | 77.94M | 103.44M | 11.81M | 8.66M | |
| Gain (Loss) on Sale of Assets | -13.18M | -117.73M | 18.94M | -1.21M | -321.86M | -492.27M |
| Gain (Loss) on Sale of Investments | -8.13M | 25.66M | 42.23M | |||
| Asset Writedown | 96.24M | 165.70M | 70.73M | 18.38M | -174.00K | |
| Income (Loss) on Equity Investments | -31.94M | -35.76M | -366.00K | 25.56M | 2.71M | |
| Change in Other Net Operating Assets | 7.03M | 33.26M | 6.82M | -27.84M | 1.64M | -65.12M |
| Other Operating Activities | -104.38M | -119.19M | -2.15M | 1.63M | 19.09M | 13.57M |
| Operating Cash Flow | -22.67M | -19.62M | 112.22M | 10.48M | -40.35M | -63.32M |
| Acquisition of Real Estate Assets | -146.91M | -146.82M | -201.70M | -235.01M | -374.49M | -227.60M |
| Sale of Real Estate Assets | 276.82M | 589.23M | 34.17M | 18.36M | 639.31M | 103.26M |
| Net Sale / Acq. of Real Estate Assets | 129.91M | 442.41M | -167.53M | -216.65M | 264.82M | -124.35M |
| Investment in Marketable & Equity Securities | 58.60M | 39.90M | -21.18M | 108.42M | 367.04M | |
| Other Investing Activities | -147.00K | 1.26M | 1.70M | 534.00K | 14.47M | |
| Investing Cash Flow | 188.37M | 483.57M | -187.02M | -202.11M | 387.71M | 242.70M |
| Long-Term Debt Issued | 712.53M | 120.00M | 750.00M | 1.29B | ||
| Total Debt Issued | 369.38M | 712.53M | 120.00M | 750.00M | 1.29B | |
| Long-Term Debt Repaid | -1.17B | -123.22M | -968.03M | -663.44M | -503.16M | |
| Total Debt Repaid | -527.32M | -1.17B | -123.22M | -968.03M | -663.44M | -503.16M |
| Net Debt Issued (Repaid) | -157.94M | -458.98M | -3.22M | -218.03M | -663.44M | 789.34M |
| Repurchase of Common Stock | -1.17M | -1.15M | -904.00K | -393.00K | -171.00K | -383.00K |
| Common Dividends Paid | -9.68M | -9.66M | -9.63M | -9.60M | -9.57M | -9.54M |
| Other Financing Activities | -9.29M | -22.23M | -8.56M | -21.70M | -2.82M | -32.70M |
| Net Cash Flow | -12.38M | -28.05M | -97.11M | -441.34M | -328.64M | 926.10M |
| Levered Free Cash Flow | 258.83M | 445.83M | -47.53M | 141.87M | 408.51M | -141.55M |
| Unlevered Free Cash Flow | 328.39M | 495.70M | -3.95M | 249.92M | 530.72M | 18.29M |
| Cash Interest Paid | 245.64M | 271.83M | 131.56M | 186.53M | 201.15M | 235.99M |
| Cash Income Tax Paid | 3.08M | 1.78M | 484.00K | 677.00K | 935.00K | 2.80M |
| Change in Working Capital | 7.03M | 33.26M | 6.82M | -27.84M | 1.64M | -65.12M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 1.88B | 1.17B | 554.93M | 899.28M | 155.04M | 738.49M |
| Enterprise Value | 4.18B | 3.71B | 3.26B | 3.43B | 2.55B | 4.35B |
| Last Close Price | 7.78 | 4.82 | 2.25 | 3.62 | 0.60 | 2.83 |
| Price/FFO Ratio | -1.95 | -21.74 | ||||
| Price/AFFO Ratio | -1.92 | -21.77 | ||||
| PE Ratio | 4.23 | |||||
| PS Ratio | 1.26 | 0.76 | 0.37 | 0.64 | 0.12 | 0.53 |
| PB Ratio | 1.19 | 0.70 | 0.28 | 0.39 | 0.06 | 0.28 |
| P/OCF Ratio | 4.95 | 85.78 | ||||
| EV/Sales Ratio | 2.79 | 2.42 | 2.18 | 2.43 | 1.99 | 3.15 |
| EV/EBITDA Ratio | 18.97 | 16.67 | 14.20 | 17.25 | 17.50 | 18.71 |
| Debt / Equity Ratio | 1.53 | 1.45 | 1.50 | 1.22 | 1.17 | 1.38 |
| Debt / EBITDA Ratio | 10.96 | 10.85 | 12.75 | 14.28 | 21.10 | 15.83 |
| Net Debt / Equity Ratio | 1.45 | 1.39 | 1.42 | 1.11 | 0.92 | 1.14 |
| Net Debt / EBITDA Ratio | 10.43 | 10.38 | 12.12 | 13.04 | 16.59 | 13.10 |
| Asset Turnover | 0.33 | 0.32 | 0.28 | 0.25 | 0.20 | 0.21 |
| Quick Ratio | 6.00 | 4.94 | 7.50 | 14.31 | 25.26 | 24.02 |
| Current Ratio | 6.65 | 6.08 | 17.17 | 14.76 | 26.30 | 36.83 |
| Return on Equity (ROE) | -15.47% | -15.78% | -17.24% | -11.80% | -0.60% | 6.81% |
| Return on Assets (ROA) | -0.45% | -0.52% | -0.65% | -0.93% | -0.93% | -0.30% |
| Return on Invested Capital (ROIC) | -0.80% | -0.88% | -1.09% | -1.56% | -1.56% | -0.50% |
| Earnings Yield | -14.21% | -24.34% | -66.72% | -32.65% | -10.17% | 23.63% |
| Dividend Yield | 0.51% | 0.83% | 1.74% | 1.07% | 6.18% | 1.29% |
| Payout Ratio | 5.47% | |||||
| Buyback Yield / Dilution | -0.29% | -0.31% | -0.29% | -0.22% | -0.15% | -0.10% |
| Total Shareholder Return | 0.22% | 0.51% | 1.45% | 0.85% | 6.04% | 1.20% |