Omega Healthcare Investors Inc key statistics and ratios
In fiscal 2025, Omega Healthcare Investors Inc had return on equity of 12.1%, a net margin of 49.6% and debt equal to 82.1% of equity. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.
Financial ratios
| Fiscal year | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating margin | 62.2% | 34.7% | 56.4% | 59.4% | — | — | — | — | — | — | — |
| Net margin | 40.7% | 11.1% | 31.9% | 36.7% | 17.9% | 39.2% | 48.6% | 25.5% | 38.6% | 49.6% | 67.0% |
| Free-cash-flow margin | 64.9% | 59.5% | 53.3% | 53.9% | 75.9% | 63.7% | 65.9% | 61.0% | 67.7% | 67.0% | 63.6% |
| Return on equity | 9.5% | 2.7% | 8.0% | 9.0% | 4.0% | 10.8% | 11.4% | 6.7% | 10.0% | 12.1% | 16.2% |
| Return on assets | 4.1% | 1.1% | 3.2% | 3.7% | 1.7% | 4.4% | 4.5% | 2.6% | 4.3% | 5.9% | 8.6% |
| Asset turnover | 0.10 | 0.10 | 0.10 | 0.10 | 0.09 | 0.11 | 0.09 | 0.10 | 0.11 | 0.12 | 0.13 |
| Debt to equity | 113.2% | 128.6% | 131.8% | 124.2% | 134.6% | 134.5% | 146.5% | 141.8% | 106.7% | 82.1% | 79.0% |
| Interest cover (operating income ÷ interest) | 3.4x | 1.7x | 2.6x | 2.6x | — | — | — | — | — | — | — |
| Effective tax rate | 0.4% | 3.1% | 1.0% | 0.8% | 3.0% | 0.9% | 1.0% | 2.5% | 2.5% | 2.4% | 1.8% |
| Capital spending as % of revenue | 4.5% | 4.2% | 3.4% | 5.7% | 3.5% | 4.2% | 5.4% | 4.0% | 3.6% | 6.8% | 5.8% |
| Free cash flow ÷ net income | 159.5% | 537.9% | 166.8% | 146.8% | 425.0% | 162.5% | 135.5% | 239.4% | 175.1% | 135.2% | 95.1% |
| Dividends ÷ net income | 123.7% | 500.5% | 187.8% | 165.4% | 384.3% | 153.0% | 148.2% | 265.9% | 168.7% | 132.2% | 92.6% |
| Dividends and buybacks ÷ free cash flow | 77.6% | 93.0% | 112.6% | 112.6% | 90.4% | 94.2% | 134.0% | 111.1% | 96.3% | 97.8% | 97.4% |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Operating margin | — | — | — | 99.6% | — | — | — | 100.8% |
| Net margin | 40.5% | 40.6% | 39.4% | 48.4% | 57.7% | 51.6% | 46.8% | 110.5% |
| Free-cash-flow margin | 64.0% | 76.4% | 58.4% | 80.2% | 65.9% | 63.9% | 64.0% | 60.9% |
| Debt to equity | 115.5% | 106.7% | 93.8% | 100.2% | 99.2% | 82.1% | — | — |
Moat
Moderate moat
How hard Omega Healthcare Investors's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.
- Returns on capital 4 / 20
Net income has been a median 3.9% of total assets over 10 years.
- Durability 15 / 20
Net margin has been a median 33.5%; its worst year was 10.6%.
- Cash conversion 20 / 20
Free cash flow was positive in 9 of 9 years, at a median 63.6% of revenue.
- Discipline 10 / 20
The diluted share count rose 31.2% over five years; stock-based pay has been a median 2.3% of revenue.
AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.
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