Omega Healthcare Investors vs Welltower
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The short version
- Welltower is the larger business, with $10.8B of revenue in fiscal 2025 against $1.2B for Omega Healthcare Investors, about 9.1 times as much.
- Welltower grew revenue faster (35.6%, against 13.2%).
- Omega Healthcare Investors earned a higher return on the capital invested in it (8.8%, against 3.0%).
- Investors pay more for each dollar of Welltower’s earnings: a P/E of 118.1x against 16.5x for Omega Healthcare Investors.
| Latest fiscal year | OHI · FY25 | WELL · FY25 |
|---|---|---|
| Size | ||
| Market cap | $14.6B | $172.4B |
| Revenue | $1.2B | $10.8B |
| Free cash flow | $798M | — |
| Net income | $590M | $962M |
| Growth | ||
| Revenue growth | 13.2% | 35.6% |
| 5-year growth | 5.9% | 18.7% |
| Share count change | 12.8% | 11.6% |
| Profitability | ||
| Gross margin | — | 40.1% |
| Operating margin | — | — |
| Net margin | 49.6% | 8.9% |
| FCF margin | 67.0% | — |
| Return on capital | 8.8% | 3.0% |
| Return on equity | 12.2% | 2.6% |
| Balance sheet | ||
| Net debt | $4.2B | $14.7B |
| Net debt / EBITDA | 3.6x | 4.1x |
| Dividends and buybacks | $780M | $1.9B |
| Valuation & quality | ||
| P/E | 16.5x | 118.1x |
| Piotroski F-score | — | — |
FY16
OHI $901M
WELL $4.3B
FY17
OHI $908M
WELL $4.3B
FY18
OHI $882M
WELL $4.7B
FY19
OHI $929M
WELL $5.1B
FY20
OHI $892M
WELL $4.6B
FY21
OHI $1.1B
WELL $4.7B
FY22
OHI $878M
WELL $5.9B
FY23
OHI $950M
WELL $6.6B
FY24
OHI $1.1B
WELL $8.0B
FY25
OHI $1.2B
WELL $10.8B
OHI
WELL
FY16
OHI 62.2%
WELL —
FY17
OHI 34.7%
WELL —
FY18
OHI 56.4%
WELL —
FY19
OHI 59.4%
WELL —
FY20
OHI —
WELL —
FY21
OHI —
WELL —
FY22
OHI —
WELL —
FY23
OHI —
WELL —
FY24
OHI —
WELL —
FY25
OHI —
WELL —
OHI
WELL
FY16
OHI $584M
WELL —
FY17
OHI $540M
WELL —
FY18
OHI $470M
WELL —
FY19
OHI $501M
WELL —
FY20
OHI $677M
WELL —
FY21
OHI $677M
WELL —
FY22
OHI $579M
WELL —
FY23
OHI $580M
WELL —
FY24
OHI $712M
WELL —
FY25
OHI $798M
WELL —
OHI
WELL
FY16
OHI 6.9%
WELL 4.6%
FY17
OHI 3.6%
WELL 2.8%
FY18
OHI 5.9%
WELL 3.5%
FY19
OHI 6.2%
WELL 3.8%
FY20
OHI 4.1%
WELL 1.3%
FY21
OHI 7.0%
WELL 2.0%
FY22
OHI 7.3%
WELL 2.0%
FY23
OHI 5.6%
WELL 2.5%
FY24
OHI 7.3%
WELL 2.6%
FY25
OHI 8.8%
WELL 3.0%
OHI
WELL
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.