Omega Healthcare Investors, Inc.OHI
NYSE•Real Estate•REIT - Healthcare Facilities
Omega Healthcare Investors, Inc. is a Real Estate Investment Trust. The firm is providing financing and capital to the long-term healthcare industry in the United States and the United Kingdom with a focus on skilled nursing and assisted living facilities, including care homes in the United Kingdom. As of September 30, 2025, Omega has a portfolio of investments that includes 1,024 operating facilities located in 42 states, the District of Columbia and the United Kingdom/Jersey (290 facilities) and operated by 88 different operators. Additionally, Omega has investments in several unconsolidated entities that own 19 facilities. As a source of capital to the healthcare industry, Omega continually evaluates the opportunities, trends and challenges affecting the industry. Our goal is to identify long-term investments in quality healthcare properties with outstanding operators that provide the most favorable risk/reward ratio to our investors. Omega Healthcare Investors, Inc. is based in Hunt Valley, United States.
Omega Healthcare Investors, Inc (OHI) reported trailing twelve months revenue of $1.24B as of March 2026, a 14.0% increase year-over-year. Quarterly revenue reached $322.95M, reflecting continued top-line momentum.
Omega Healthcare Investors, Inc generated $655.98M in TTM net income, with quarterly EBITDA of $239.96M. The operating margin expanded from 36.7% to 48.2%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (48.2%) and net margin (49.1%) indicates tight cost control with minimal non-operating drag. Net margin has improved from 40.5% a year ago, signaling stronger bottom-line efficiency.
OHI trades at a P/E of 20.0x (in line with broad market averages) and a P/S of 10.6x. The price-to-book ratio of 2.5x reflects a moderate premium to book value.
The company generated $206.74M in free cash flow over the trailing twelve months, a 27.8% increase year-over-year, indicating cash generation ability. The balance sheet shows $10.23B in total assets with no in long-term debt against $5.19B in stockholders equity. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are expanding at ~42.5%, suggesting durable pricing power and cost discipline.
ROE is positive at ~10.2% on average, adequate but below the threshold typically associated with wide moats.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
TTM revenue has grown consistently (7 of 7 quarters up), with ~26.5% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~44.8% — no sign of cost or pricing stress.
FCF covers net income by 1.4x on average — earnings are well-supported by cash generation.
D/E ratio is 0.8 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares outstanding increased 19.1% — significant dilution, likely from stock compensation or capital raises.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation