Omega Healthcare Investors, Inc. (OHI) Key Metrics
OHI valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $14.39B
- Enterprise value
- $17.98B
- P/E (TTM)
- 16.3 10-yr median 25.7
- Forward P/E
- 10.1
- PEG ratio
- 11.99
- Price / sales
- 11.6 10-yr median 8.2
- Price / book
- 2.6 10-yr median 2.1
- EV / EBITDA
- 12.6 10-yr median 15.4
- Dividend yield
- 5.65% $2.72 a year
- Beta
- 0.53
OHI key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsOHI valuation Price multiples at each fiscal year-end price.
OHI returns How much profit the business earns on the capital it uses.
OHI per-share figures Results divided by the shares outstanding at year-end.
OHI financial health Debt, liquidity and how easily interest is covered.
OHI efficiency & capital use Working capital cycle and where the cash goes.
OHI valuation history
OHI returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
OHI debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
OHI cash returned to shareholders
OHI price vs earnings per share
OHI key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $13.78B | $10.24B | $7.68B | $6.83B | $7.23B | $8.54B | $9.41B | $7.37B | $5.69B | $6.30B |
| Enterprise value | $18.01B | $14.56B | $12.30B | $11.84B | $12.46B | $13.54B | $14.52B | $12.21B | $10.18B | $10.58B |
| P/E ratio | 23.3 | 25.2 | 31.7 | 16.0 | 17.3 | 53.6 | 27.6 | 26.2 | 56.7 | 17.2 |
| Price / sales | 11.5 | 9.7 | 8.1 | 7.8 | 6.8 | 9.6 | 10.1 | 8.4 | 6.3 | 7.0 |
| Price / book | 2.7 | 2.3 | 2.1 | 1.8 | 1.8 | 2.2 | 2.3 | 2.0 | 1.6 | 1.6 |
| Price / free cash flow | 15.7 | 14.4 | 13.0 | 10.9 | 11.5 | 13.5 | 22.7 | 20.5 | 11.6 | 11.3 |
| Price / operating cash flow | 15.7 | 13.7 | 12.3 | 10.9 | 10.0 | 12.1 | 17.0 | 14.8 | 9.9 | 10.1 |
| EV / sales | 15.0 | 13.8 | 13.0 | 13.5 | 11.7 | 15.2 | 15.6 | 13.9 | 11.2 | 11.7 |
| EV / EBITDA | 15.4 | 15.4 | 15.2 | 11.8 | 12.6 | 18.9 | 17.0 | 15.7 | 16.6 | 12.8 |
| EV / free cash flow | 20.5 | 20.4 | 20.9 | 18.9 | 19.9 | 21.4 | 35.1 | 33.9 | 20.7 | 19.0 |
| Earnings yield | 4.3% | 4.0% | 3.2% | 6.3% | 5.8% | 1.9% | 3.6% | 3.8% | 1.8% | 5.8% |
| Free cash flow yield | 6.4% | 7.0% | 7.7% | 9.2% | 8.7% | 7.4% | 4.4% | 4.9% | 8.6% | 8.8% |
| Dividend yield | 5.7% | 6.7% | 8.4% | 9.3% | 8.8% | 7.2% | 6.0% | 7.2% | 8.8% | 7.2% |
| Shareholder yield (dividends + buybacks) | 5.7% | 6.7% | 8.4% | 11.5% | 8.8% | 7.2% | 6.0% | 7.2% | 8.8% | 7.2% |
| Share price at fiscal year-end | $44.34 | $37.85 | $30.66 | $27.95 | $29.59 | $36.32 | $42.35 | $35.15 | $27.54 | $31.26 |
| Per share | ||||||||||
| Revenue per share | $3.86 | $3.89 | $3.79 | $3.60 | $4.35 | $3.80 | $4.18 | $4.20 | $4.39 | $4.47 |
| Earnings per share | $1.90 | $1.50 | $0.97 | $1.75 | $1.71 | $0.68 | $1.54 | $1.34 | $0.49 | $1.82 |
| Operating cash flow per share | $2.83 | $2.77 | $2.50 | $2.56 | $2.96 | $3.01 | $2.49 | $2.38 | $2.79 | $3.10 |
| Free cash flow per share | $2.83 | $2.64 | $2.35 | $2.56 | $2.57 | $2.69 | $1.86 | $1.72 | $2.38 | $2.76 |
| Cash per share | $0.09 | $1.92 | $1.77 | $1.22 | $0.08 | $0.70 | $0.11 | $0.05 | $0.42 | $0.46 |
| Book value per share | $16.68 | $16.77 | $14.27 | $15.57 | $16.81 | $16.34 | $18.62 | $17.95 | $17.19 | $19.14 |
| Tangible book value per share | $14.51 | $14.29 | $11.70 | $12.93 | $14.14 | $13.56 | $15.59 | $14.86 | $14.05 | $15.91 |
| Dividends per share | $2.51 | $2.53 | $2.57 | $2.59 | $2.61 | $2.60 | $2.54 | $2.52 | $2.43 | $2.25 |
| Capex per share | $2.31 | $0.14 | $0.15 | $1.01 | $0.39 | $0.32 | $0.63 | $0.66 | $0.42 | $0.34 |
| Debt per share | $13.70 | $17.89 | $20.23 | $21.72 | $21.50 | $21.99 | $23.12 | $23.14 | $22.11 | $21.66 |
| Shares outstanding | 310.7M | 270.4M | 250.5M | 244.3M | 244.3M | 235.1M | 222.1M | 209.7M | 206.8M | 201.6M |
| Change in shares outstanding | +14.9% | +8.0% | +2.5% | −0.0% | +3.9% | +5.8% | +5.9% | +1.4% | +2.6% | +11.7% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 12.1% | 10.0% | 6.6% | 10.8% | 10.5% | 4.0% | 8.6% | 7.7% | 2.7% | 9.6% |
| Return on invested capital (ROIC) | 8.0% | 7.5% | 5.6% | 4.3% | 6.2% | 4.9% | 6.1% | 5.9% | 3.8% | 7.2% |
| Return on assets (ROA) | 5.9% | 4.3% | 2.6% | 4.5% | 4.4% | 1.7% | 3.7% | 3.2% | 1.1% | 4.3% |
| Return on tangible assets | 6.3% | 4.4% | 2.9% | 4.9% | 4.6% | 1.8% | 3.7% | 3.5% | 1.2% | 4.4% |
| Free cash flow margin | 73.3% | 67.8% | 62.0% | 71.2% | 59.0% | 71.0% | 44.6% | 40.8% | 54.1% | 61.8% |
| Income quality (OCF / net income) | 1.49 | 1.84 | 2.59 | 1.47 | 1.73 | 4.45 | 1.62 | 1.77 | 5.76 | 1.71 |
| Financial health | ||||||||||
| Total debt | $4.26B | $4.84B | $5.07B | $5.31B | $5.25B | $5.17B | $5.14B | $4.85B | $4.57B | $4.37B |
| Cash & short-term investments | $27.0M | $518.3M | $442.8M | $297.1M | $20.5M | $163.5M | $24.1M | $10.3M | $85.9M | $93.7M |
| Net debt | $4.23B | $4.32B | $4.62B | $5.01B | $5.23B | $5.01B | $5.11B | $4.84B | $4.49B | $4.27B |
| Debt / equity | 0.82 | 1.07 | 1.42 | 1.40 | 1.28 | 1.35 | 1.24 | 1.29 | 1.29 | 1.13 |
| Debt / assets | 0.42 | 0.49 | 0.56 | 0.56 | 0.55 | 0.54 | 0.52 | 0.56 | 0.52 | 0.49 |
| Net debt / EBITDA | 3.61 | 4.56 | 5.70 | 5.00 | 5.27 | 6.99 | 5.98 | 6.22 | 7.31 | 5.17 |
| Current ratio | 3.46 | 8.03 | 7.25 | 5.30 | 5.19 | 3.64 | 2.82 | 2.06 | 2.56 | 2.98 |
| Quick ratio | 3.46 | 8.03 | 4.76 | 3.81 | 5.19 | 2.34 | 1.78 | 2.06 | 2.41 | 2.98 |
| Interest coverage | 3.4 | 3.0 | 2.1 | 1.7 | 2.4 | 2.0 | 2.6 | 2.5 | 1.4 | 3.2 |
| Working capital | $1.46B | $2.31B | $1.93B | $1.44B | $1.13B | $1.01B | $794.5M | $618.0M | $913.9M | $1.09B |
| Invested capital | $9.41B | $8.86B | $8.20B | $8.81B | $9.34B | $8.85B | $9.25B | $8.61B | $8.04B | $8.13B |
| Tangible asset value | $4.77B | $4.06B | $3.12B | $3.16B | $3.46B | $3.38B | $3.66B | $3.12B | $3.24B | $3.56B |
| Net current asset value | −$2.55B | −$2.53B | −$3.12B | −$3.83B | −$4.14B | −$4.07B | −$4.23B | −$3.62B | −$3.39B | −$3.10B |
| Graham number | $26.70 | $23.81 | $17.62 | $24.74 | $25.40 | $15.79 | $25.36 | $23.29 | $13.71 | $27.97 |
| Graham net-net per share | −$9.92 | −$11.55 | −$12.92 | −$16.20 | −$19.15 | −$17.83 | −$19.42 | −$18.71 | −$18.23 | −$17.52 |
| Capital allocation | ||||||||||
| Dividends paid | $780.4M | $685.4M | $643.9M | $632.9M | $637.6M | $612.3M | $564.1M | $528.7M | $502.6M | $453.2M |
| Share buybacks (net) | $0 | $0 | $77,000 | $152.0M | $79,000 | $0 | $0 | $134,000 | $48,000 | $733,000 |
| Dividend payout ratio | 132.2% | 168.7% | 265.9% | 148.2% | 153.0% | 384.3% | 165.4% | 187.8% | 500.5% | 123.7% |
| Dividends + buybacks / free cash flow | 88.8% | 96.2% | 109.4% | 125.4% | 101.7% | 96.7% | 136.2% | 146.9% | 102.3% | 81.5% |
| Capex / revenue | 59.8% | 3.6% | 4.0% | 28.1% | 8.9% | 8.4% | 15.0% | 15.8% | 9.5% | 7.7% |
| Capex / operating cash flow | 81.6% | 5.0% | 6.1% | 39.5% | 13.2% | 10.6% | 25.2% | 27.9% | 15.0% | 11.0% |
| Capex / depreciation | 2.20 | 0.12 | 0.12 | 0.74 | 0.28 | 0.23 | 0.46 | 0.50 | 0.30 | 0.26 |
| Stock-based compensation / revenue | 3.7% | 3.5% | 3.7% | 3.1% | 2.0% | 2.1% | 1.7% | 1.8% | 1.7% | 1.5% |
| R&D / revenue | — | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| SG&A / revenue | 4.6% | 8.4% | 8.9% | 7.9% | 6.1% | 6.7% | 6.2% | 7.2% | 5.2% | 5.1% |
| Efficiency | ||||||||||
| Days sales outstanding | 614.1 | 651.8 | 612.1 | 534.4 | 386.4 | 477.4 | 468.4 | 518.7 | 561.9 | 598.2 |
| Days of inventory on hand | — | — | 15,384.3 | 5,883.2 | 7,414.7 | 14,134.8 | 5,570.2 | 530.3 | 159.7 | 20.5 |
| Days payables outstanding | — | — | — | 6,871.0 | 8,177.4 | 78,998.3 | 65,048.2 | 3,469.8 | 1,207.8 | 2,157.4 |
| Cash conversion cycle (days) | — | — | — | -453.4 | -376.3 | -64,386.1 | -59,009.6 | -2,420.8 | -486.2 | -1,538.7 |
| Receivables turnover | 0.59 | 0.56 | 0.60 | 0.68 | 0.94 | 0.76 | 0.78 | 0.70 | 0.65 | 0.61 |
| Payables turnover | — | — | — | 0.05 | 0.04 | 0.00 | 0.01 | 0.11 | 0.30 | 0.17 |
| Inventory turnover | — | — | 0.02 | 0.06 | 0.05 | 0.03 | 0.07 | 0.69 | 2.29 | 17.80 |
| Asset turnover | 0.12 | 0.11 | 0.10 | 0.09 | 0.11 | 0.09 | 0.10 | 0.10 | 0.10 | 0.11 |
| Average receivables | $2.02B | $1.88B | $1.59B | $1.29B | $1.13B | $1.17B | $1.19B | $1.25B | $1.40B | $1.48B |
| Average payables | — | — | — | $291.8M | $274.7M | $2.67B | $2.66B | $283.7M | $327.8M | $347.1M |
| Average inventory | — | — | $633.3M | $249.8M | $249.1M | $476.9M | $227.9M | $43.3M | $43.3M | $3.3M |
| Intangibles / total assets | 6.7% | 6.8% | 7.1% | 6.9% | 6.8% | 6.9% | 6.9% | 7.5% | 7.4% | 7.3% |
Computed from OHI's annual financial statements (latest annual report filed February 9, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
OHI valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Omega Healthcare Investors traded at 23.3 times earnings, against a 10-year median of 25.7. Based on the latest twelve months, the trailing P/E is 16.3 and the forward P/E is 10.1. Omega Healthcare Investors earned a return on equity of 12.1% and a return on invested capital of 8.0% in fiscal 2025. It ended the year with $4.3 billion of debt and $27.0 million in cash and short-term investments, net debt of $4.2 billion. It returned $780.4 million to shareholders: $780.4 million in dividends and $0 in share buybacks, 89% of free cash flow. The share count rose 54.1% from 201.6M to 310.7M over 9 years.
See the OHI income statement, the OHI chart for price history, or the OHI stock overview for the latest quote and news.
OHI key metrics FAQ
What is Omega Healthcare Investors's P/E ratio?
Omega Healthcare Investors's trailing P/E ratio is 16.3 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 10.1. At the end of fiscal 2025 it was 23.3, compared with a 10-year median of 25.7.
What is Omega Healthcare Investors's EV/EBITDA?
Omega Healthcare Investors's enterprise value was 15.4 times EBITDA at the end of fiscal 2025 (enterprise value $18.0 billion, EBITDA $1.2 billion); the current EV/EBITDA is 12.6.
What is Omega Healthcare Investors's return on equity?
Omega Healthcare Investors's return on equity (ROE) was 12.1% in fiscal 2025: net income of $590.1 million on average shareholders' equity of $4.9 billion.
What is Omega Healthcare Investors's ROIC?
Omega Healthcare Investors's return on invested capital was 8.0% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Omega Healthcare Investors have?
Omega Healthcare Investors had total debt of $4.3 billion at the end of fiscal 2025, a debt-to-equity ratio of 0.82 and $4.2 billion of net debt (3.61 times EBITDA).
What is Omega Healthcare Investors's dividend yield?
Omega Healthcare Investors's forward dividend yield is 5.65%. Omega Healthcare Investors paid $780.4 million in dividends in fiscal 2025 ($2.51 per share), a payout ratio of 132.2%.
What is Omega Healthcare Investors's free cash flow yield?
Omega Healthcare Investors generated $878.6 million of free cash flow in fiscal 2025, a free cash flow yield of 6.4% on its market value at year-end ($13.8 billion).
What is Omega Healthcare Investors's current ratio?
Omega Healthcare Investors's current ratio was 3.46 at the end of fiscal 2025: current assets were 3.46 times current liabilities.