CareTrust REIT vs Omega Healthcare Investors
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The short version
- Omega Healthcare Investors is the larger business, with $1.2B of revenue in fiscal 2025 against $476M for CareTrust REIT, about 2.5 times as much.
- CareTrust REIT grew revenue faster (60.8%, against 13.2%).
- CareTrust REIT earned a higher return on the capital invested in it (9.3%, against 8.8%).
- Investors pay more for each dollar of CareTrust REIT’s earnings: a P/E of 22.9x against 16.5x for Omega Healthcare Investors.
| Latest fiscal year | CTRE · FY25 | OHI · FY25 |
|---|---|---|
| Size | ||
| Market cap | $8.6B | $14.6B |
| Revenue | $476M | $1.2B |
| Free cash flow | — | $798M |
| Net income | $321M | $590M |
| Growth | ||
| Revenue growth | 60.8% | 13.2% |
| 5-year growth | 21.7% | 5.9% |
| Share count change | 31.5% | 12.8% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | — | — |
| Net margin | 67.3% | 49.6% |
| FCF margin | — | 67.0% |
| Return on capital | 9.3% | 8.8% |
| Return on equity | 9.2% | 12.2% |
| Balance sheet | ||
| Net debt | $696M | $4.2B |
| Net debt / EBITDA | 1.5x | 3.6x |
| Dividends and buybacks | $259M | $780M |
| Valuation & quality | ||
| P/E | 22.9x | 16.5x |
| Piotroski F-score | — | — |
Revenue
FY16
CTRE $105M
OHI $901M
FY17
CTRE $133M
OHI $908M
FY18
CTRE $157M
OHI $882M
FY19
CTRE $163M
OHI $929M
FY20
CTRE $178M
OHI $892M
FY21
CTRE $192M
OHI $1.1B
FY22
CTRE $196M
OHI $878M
FY23
CTRE $218M
OHI $950M
FY24
CTRE $296M
OHI $1.1B
FY25
CTRE $476M
OHI $1.2B
CTRE
OHI
Operating margin
FY16
CTRE —
OHI 62.2%
FY17
CTRE —
OHI 34.7%
FY18
CTRE —
OHI 56.4%
FY19
CTRE —
OHI 59.4%
FY20
CTRE —
OHI —
FY21
CTRE —
OHI —
FY22
CTRE —
OHI —
FY23
CTRE —
OHI —
FY24
CTRE —
OHI —
FY25
CTRE —
OHI —
CTRE
OHI
Free cash flow
FY16
CTRE $64.3M
OHI $584M
FY17
CTRE $88.4M
OHI $540M
FY18
CTRE $97.6M
OHI $470M
FY19
CTRE $123M
OHI $501M
FY20
CTRE —
OHI $677M
FY21
CTRE —
OHI $677M
FY22
CTRE —
OHI $579M
FY23
CTRE —
OHI $580M
FY24
CTRE —
OHI $712M
FY25
CTRE —
OHI $798M
CTRE
OHI
Return on capital
FY16
CTRE —
OHI 6.9%
FY17
CTRE —
OHI 3.6%
FY18
CTRE —
OHI 5.9%
FY19
CTRE —
OHI 6.2%
FY20
CTRE —
OHI 4.1%
FY21
CTRE —
OHI 7.0%
FY22
CTRE —
OHI 7.3%
FY23
CTRE 5.8%
OHI 5.6%
FY24
CTRE 6.4%
OHI 7.3%
FY25
CTRE 9.3%
OHI 8.8%
CTRE
OHI
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.