Filing Flows › Diversified Healthcare Trust (DHC) › Q4 2025
Diversified Healthcare Trust (DHC) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 24, 2026
Diversified Healthcare Trust (DHC) reported revenue of $380M for the fourth quarter 2025 (Q4 2025), 0% from a year earlier and -2% from the quarter before. Operating margin was -3.7%, net loss $21.2M (5.6% of revenue).
Diversified Healthcare Trust, Q4 2025: revenue $380M (0% year over year), operating margin -3.7%, net loss $21.2M, operating cash flow −$20.1M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $380M | -2% | 0% |
| Operating profit | −$14.1M | — | — |
| Net earnings | −$21.2M | — | — |
| Operating cash flow | −$20.1M | — | — |
What changed
Revenue was $379.6M in Q4 2025, roughly flat year over year and down 2% from the previous quarter. Residents fees and services was the largest line at 85% of revenue.
Operating costs exceeded revenue by $14.1M, an operating margin of -3.7%. Total costs fell 6% while revenue was flat. The quarter ended with a net loss of $21.2M, narrower than the previous quarter's $164.0M loss.
Operating cash flow was −$20.1M. Non-cash charges added back $62.0M of depreciation. Working capital and other items used $60.9M. Capital expenditures of $32.4M exceeded it, leaving free cash flow of −$52.5M.
Questions
What was Diversified Healthcare Trust's revenue in the fourth quarter 2025?
Diversified Healthcare Trust (DHC) reported revenue of $380M for the fourth quarter 2025 (Q4 2025), 0% from a year earlier and -2% from the quarter before.
Was Diversified Healthcare Trust profitable in the fourth quarter 2025?
Operating loss was $14.1M (-3.7% of revenue) and net loss $21.2M.