LTC Properties vs National Healthcare Properties
National Healthcare Properties is the larger business, with $342m of revenue in fiscal 2025 against $263m for LTC Properties (1.3 times as much). LTC Properties grew faster (25.3% against -3.3%). LTC Properties kept more of each dollar of sales as profit: a net margin of 44.9% against -20.8%. LTC Properties carries less debt relative to equity (78.6% against 174.4%).
| Latest fiscal year | LTC PropertiesLTC, 2025 | National Healthcare PropertiesNHP, 2025 |
|---|---|---|
| Revenue | $263m | $342m |
| Revenue growth | 25.3% | -3.3% |
| Net income | $118m | −$71.1m |
| Operating margin | 77.9% | 1.0% |
| Net margin | 44.9% | -20.8% |
| Return on equity | 11.6% | -11.1% |
| Free cash flow | $129m | −$21.8m |
| Cash | $14.4m | $57.6m |
| Total debt | $845m | $1.05bn |
| Debt to equity | 78.6% | 174.4% |
| Dividend per share | — | — |
| Dividend yield | 4.6% | — |
| Share buybacks | — | — |
| Employees | 25 | 31 |
| Market value | $2.47bn | $438m |
| Price vs our value range | — | — |
| Moat score | 68 (Moderate) | 43 (Weak) |
| Insider trades, 12 months | 11 buys, 1 sales | 0 buys, 0 sales |