How American Healthcare REIT makes money

Period

FY2025

How does American Healthcare REIT make money? This Sankey traces every dollar of revenue through the income statement — into cost of revenue, R&D, SG&A, and taxes — and shows what's left as profit. Pick any fiscal year, recent quarter, or the trailing twelve months. Straight from SEC filings.

American Healthcare REIT Inc. · FY2025 · year ended 2025-12-31

Revenue$2.3BGross profit$467M · 21%Cost of revenue$1.8B · 79%Operating income$415M · 18%Operating expenses$51M · 2%Other opex$51M · 2%Pre-tax income$70M · 3%Other expense$345M · 15%Net income$70M · 3%

Each fiscal year from SEC filings. Percentages are share of revenue, so the green profit nodes read directly as gross / operating / net margin. Line items a company doesn't break out are derived from their siblings so the flows balance; small residuals show as “Other.” For informational purposes only.