Filing Flows › American Healthcare REIT (AHR) › How it makes money
How American Healthcare REIT (AHR) makes money
American Healthcare REIT (AHR) made $742M of revenue in the third quarter 2026 (Q3 2026), +30% from a year earlier. Integrated Senior Health Campuses brought in $534M (72%); SHOP brought in $167M (22%); Outpatient Medical brought in $30.7M (4%). Of every dollar of revenue, 22¢ was left as operating profit, 4¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Integrated Senior Health Campuses | $534M | 72.0% | +4% | +17% |
| SHOP | $167M | 22.5% | +37% | +118% |
| Outpatient Medical | $30.7M | 4.1% | +2% | -2% |
| Triple Net Leased Properties | $10.4M | 1.4% | +7% | +7% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $742M | 100.0% |
| Operating profit | $165M | 22.2% |
| Income tax | $740K | 0.1% |
| Net earnings | $31.2M | 4.2% |
| Operating cash flow | $167M | 22.5% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $742M | +30% |
| Q2 2026 | $674M | +24% |
| Q1 2026 | $651M | +20% |
| Q4 2025 | $604M | +11% |
| Q3 2025 | $573M | +9% |
| Q2 2025 | $543M | +8% |
| Q1 2025 | $541M | +8% |
From American Healthcare REIT's 10-Q filed Nov 6, 2026 (on EDGAR).
Questions
How does American Healthcare REIT make money?
American Healthcare REIT (AHR) made $742M of revenue in the third quarter 2026 (Q3 2026), +30% from a year earlier. Integrated Senior Health Campuses brought in $534M (72%); SHOP brought in $167M (22%); Outpatient Medical brought in $30.7M (4%). Of every dollar of revenue, 22¢ was left as operating profit, 4¢ was left as net earnings.
What is American Healthcare REIT's biggest business?
Integrated Senior Health Campuses: $534M in the third quarter 2026, 72% of revenue, +17% from a year earlier.
What is American Healthcare REIT's profit margin?
Net earnings were $31.2M, 4.2% of revenue, in the third quarter 2026; the operating margin was 22.2%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.