OHI
Omega Healthcare Investors, Inc.
OHI's fundamentals are strong: its operating margin rose 26 points to 76% and revenue grew 14%. At 19x earnings, it's trading below its usual 25x. Analysts expect earnings to hold roughly steady.
OHI Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| N/A | |
| N/A |
OHI's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for real estate companies like OHI.
OHI PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 16x | $40.94 | -13% |
| Current | 19x | $47.03 | — |
| Forward | 24x | $47.03 | — |
| Fair | 25x | $61.35 | +30% |
| Expensive | 32x | $80.14 | +70% |
Historical ranges are pointers, not guarantees.
OHI's PE is in its cheap range at 19x. On analysts' estimates for next year's earnings, today's price would be 24x, in its fair range.
OHI Forward outlook
| Metric | Outlook |
|---|---|
| Strongly deteriorating | |
| Stable | |
| Growth | |
| Strongly weakening | |
| Limited | |
| High |
Analysts expect OHI's revenue to grow, but its profitability to weaken.
OHI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.97 | -21% |
| Q3 2026 | $2.49 | +39% |
| Q2 2026 | $2.81 | +73% |
| Q1 2026 | $2.08 | +29% |
| Q4 2025 | $1.94 | +25% |
| Q3 2025 | $1.79 | +31% |
| Q2 2025 | $1.62 | +23% |
| Q1 2025 | $1.61 | +44% |
| Q4 2024 | $1.55 | +55% |
OHI's earnings per share have climbed steadily: $2.49 over the past year, up 39% from the year before, and higher year over year for 10 quarters in a row.
OHI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $340.6M | +9.3% |
| Q2 2026 | $328.2M | +16% |
| Q1 2026 | $323M | +17% |
| Q4 2025 | $319.2M | +14% |
| Q3 2025 | $311.6M | +13% |
| Q2 2025 | $282.5M | +12% |
| Q1 2025 | $276.8M | +14% |
| Q4 2024 | $279.3M | +17% |
OHI's revenue has grown year over year for 14 quarters in a row: $341M last quarter, up 9.3% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 97% | +36 points |
| Q2 2026 | 101% | +49 points |
| Q1 2026 | 50% | +8.1 points |
| Q4 2025 | 54% | +11 points |
| Q3 2025 | 61% | +21 points |
| Q2 2025 | 52% | +5.1 points |
| Q1 2025 | 41% | +12 points |
| Q4 2024 | 42% | +17 points |
OHI's operating margin was 97% last quarter, up 36 points from the same quarter a year ago, near the top of its range since 2019.
OHI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $166.4M | -19% |
| Q2 2026 | $199.8M | -12% |
| Q1 2026 | $206.7M | +28% |
| Q4 2025 | $203.9M | -4.5% |
| Q3 2025 | $205.5M | +16% |
| Q2 2025 | $226.5M | +28% |
| Q1 2025 | $161.8M | +12% |
| Q4 2024 | $213.5M | +42% |
OHI's free cash flow was $777M over the past year, down 3.8% from the year before. Free cash flow isn't a meaningful measure for real estate companies like OHI.
OHI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +1.5% | +4.8M shares |
| 1 year | +4.2% | +12.8M shares |
| 3 years | +25% | +65.1M shares |
| 5 years | +30% | +74.4M shares |
| Available history | +45% | +98.9M shares |
OHI has 321M diluted shares, up 4.2% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2022 | — |
| Q3 2022 | — |
| Q2 2022 | $114.9M |
| Q1 2022 | $27.3M |
OHI Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | -0.0x | Net Cash |
| Q1 2026 | 0.4x | Very low |
| Q4 2025 | 4.5x | High |
| Q3 2025 | 4.8x | High |
| Q2 2025 | 5.3x | High |
| Q1 2025 | 5.3x | High |
| Q4 2024 | 6.0x | High |
| Q3 2024 | 6.8x | High |
OHI has more cash than debt. Net leverage isn't a meaningful measure for real estate companies like OHI.
OHI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 51.3 | Neutral |
| Stochastic | 56.9 | Neutral |
OHI's weekly RSI is 51 (neutral) and its Stochastic is 57 (neutral).
OHI PE vs Real Estate Sector
| Metric | OHI | Sector median | Relative |
|---|---|---|---|
| PE | 19x | 24x | 21% below |
| PE % | 32 | 23 | 9 pts above |
OHI is trading at 19x earnings, a 21% discount to the Real Estate sector's median of 24x.
OHI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $46.3 | 1.6% above |
| 20 week MA | $47.4 | 0.8% below |
| 50 week MA | $46.5 | 1.2% above |
| 100 week MA | $42.7 | 10% above |
| 200 week MA | $37.7 | 25% above |
OHI's trend is mixed: it's above four of its five weekly moving averages, and 25% above its 200-week average.
OHI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $41.8 | $37.2 | -11% |
| 2021 | $37.2 | $28.2 | -24% |
| 2022 | $28.2 | $28.4 | +0.6% |
| 2023 | $28.4 | $30.7 | +8% |
| 2024 | $30.7 | $37.7 | +23% |
| 2025 | $37.7 | $44.5 | +18% |
| 2026 YTD | $44.5 | $47.0 | +5.8% |
OHI has finished higher in four of the last six years. It's up 5.8% so far in 2026.