American Healthcare REIT, Inc.
Statements
Segments
US companies must disclose in their mandatory reports how revenue breaks down across business segments, regions and product lines. We read that breakdown for you straight from the annual and quarterly reports (10-K and 10-Q) of American Healthcare REIT, Inc. (AHR). It shows which part of the business is growing — and which one is holding it back.
Revenue by business segment
| Segment | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Integrated Senior Health Campuses | $983.2M 92.0% | $1.03B 91.3% · +4.3% | $1.25B 88.8% · +22.3% | $1.48B 88.8% · +18.1% | $1.62B 86.0% · +9.3% | $1.76B 84.2% · +8.9% |
| SHOP | $85.9M 8.0% | $98.2M 8.7% · +14.4% | $157.5M 11.2% · +60.3% | $186.9M 11.2% · +18.6% | $264.0M 14.0% · +41.3% | $330.6M 15.8% · +25.2% |
| Outpatient Medical | – | $0 0.0% | $0 0.0% | $0 0.0% | $0 0.0% | $0 0.0% |
| Triple-net leased properties | – | $0 0.0% | $0 0.0% | $0 0.0% | $0 0.0% | $0 0.0% |
| Medical Office Building | $0 0.0% | – | – | – | – | – |
| Hospitals | $0 0.0% | – | – | – | – | – |
| Skilled Nursing Facilities | $0 0.0% | – | – | – | – | – |
| Senior Housing | $0 0.0% | – | – | – | – | – |
Large figure: segment revenue. Below it the share of revenue in that period and the change against the prior year.
| Segment | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Integrated Senior Health Campuses | $107.1M 10.9% | $95.9M 9.3% | $146.0M 11.6% | $153.5M 10.4% | $189.3M 11.7% | $237.0M 13.4% |
| SHOP | $23.4M 27.2% | $14.8M 15.1% | $10.3M 6.5% | $20.4M 10.9% | $40.6M 15.4% | $64.0M 19.4% |
| Outpatient Medical | – | $60.9M | $92.3M | $91.6M | $83.9M | $77.4M |
| Triple-net leased properties | – | $41.7M | $53.3M | $41.3M | $49.8M | $36.8M |
| Medical Office Building | $48.2M | – | – | – | – | – |
| Hospitals | $10.5M | – | – | – | – | – |
| Skilled Nursing Facilities | $14.5M | – | – | – | – | – |
| Senior Housing | $14.5M | – | – | – | – | – |
Large figure: segment operating income. Below it the margin, that is operating income measured against the revenue of the same segment.
Revenue by product line
| Segment | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Resident Fees and Services [Member] | $1.07B 100.0% | $1.12B 100.0% · +5.1% | $1.41B 100.0% · +25.6% | $1.67B 100.0% · +18.2% | $1.88B 100.0% · +12.9% | $2.09B 100.0% · +11.2% |
Large figure: segment revenue. Below it the share of revenue in that period and the change against the prior year.
Segment and region names are the ones the company itself uses and are shown as reported. Change and share refer to revenue.
Data as of: August 11, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q) · Segment figures: SEC EDGAR (10-K/10-Q reports)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.