Healthcare Realty Trust Incorporated (HR) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	-$0.02	-$0.13	-550.0%	—	$281.8M	—
Q4 25	-$0.03	-$0.03	0.0%	—	$258.1M	—
Q3 25	-$0.07	-$0.06	+14.3%	—	$297.8M	—
Q2 25	-$0.09	-$0.08	+11.1%	—	$297.5M	—
Q1 25	-$0.12	-$0.1	+16.7%	—	$299M	—
Q4 24	-$0.12	-$0.16	-33.3%	—	$290.6M	—
Q3 24	-$0.13	-$0.13	0.0%	—	$315.4M	—
Q2 24	-$0.13	-$0.13	0.0%	—	$316.3M	—
Q1 24	-$0.13	-$0.12	+7.7%	—	$322.6M	—
Q4 23	-$0.13	-$0.09	+30.8%	—	$330.4M	—
Q3 23	-$0.12	-$0.11	+8.3%	—	$342.3M	—
Q2 23	-$0.13	-$0.11	+15.4%	—	$338.1M	—
Q4 22	-$0.07	-$0.2	-185.7%	—	$338.1M	—
Q3 22	$0.08	-$0.11	-237.5%	—	$306.4M	—
Q2 22	$0.06	$0.04	-33.3%	—	$145.3M	—
Q1 22	$0.06	$0.03	-50.0%	—	$142.9M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	-$0.71	—	—	$1.2B	—
FY24	—	-$1.81	—	—	$1.2B	—
FY23	—	-$0.74	—	—	$1.3B	—
FY22	—	$0.15	—	—	$932.6M

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$412M	$424.7M	$450.4M	$470.3M	$499.6M	$534.8M	$932.6M	$1.3B	$1.2B	$1.2B
YoY change	+6.05%	+3.1%	+6.04%	+4.42%	+6.24%	+7.04%	+74.4%	+44.1%	-7.04%	-7.75%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	412M	424.7M	450.4M	470.3M	499.6M	534.8M	932.6M	1.3B	1.2B	1.2B
Cost of revenue	146.5M	157.3M	170.5M	180M	196.5M	212.3M	344M	500.4M	473.4M	449.1M
Gross profit	265.4M	267.5M	279.9M	290.3M	303.1M	322.5M	588.6M	843.3M	775.7M	703.3M
Gross margin	64.4%	63%	62.1%	61.7%	60.7%	60.3%	63.1%	62.8%	62.1%	61%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	31.3M	33M	34.5M	34.8M	30.7M	34.2M	52.7M	58.4M	83.1M	72.6M
Operating expenses	21.6M	25.2M	26.5M	26.8M	30.7M	34.2M	52.7M	58.4M	64M	44.4M
Operating income	106.4M	92M	81.2M	77.6M	82M	85.7M	82.8M	54.2M	36.6M	94.9M
Operating margin	25.8%	21.7%	18%	16.5%	16.4%	16%	8.88%	4.03%	2.93%	8.24%
Non-operating income, net	36.4M	-13.2M	40.9M	17.7M	45.8M	34.1M	102.1M	-83.5M	-458.6M	-132.4M
Pretax income	85.6M	23.1M	69.8M	39.2M	72.2M	66.7M	40.7M	-282.1M	-663.9M	-249.5M
Income tax	—	—	—	—	—	—	—	—	—	—
Net income	85.6M	23.1M	69.8M	39.2M	72.2M	66.7M	40.7M	-282.1M	-663.9M	-249.5M
Net margin	20.8%	5.44%	15.5%	8.33%	14.4%	12.5%	4.36%	-21%	-53.1%	-21.7%
EBITDA	234.6M	236.4M	248.9M	258.5M	276.9M	291.4M	555M	823.6M	754M	701.2M
EPS	0.79	0.18	0.55	0.29	0.52	0.45	0.15	-0.74	-1.81	-0.71
Diluted EPS	0.78	0.18	0.55	0.29	0.52	0.45	0.15	-0.74	-1.81	-0.71

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	342.3M	330.4M	322.6M	316.3M	315.4M	290.6M	299M	297.5M	297.8M	258.1M	279M	281.8M
Cost of revenue	131.6M	121.4M	121.1M	117.7M	120.2M	114.4M	115M	109.9M	113.5M	110.7M	100.1M	99M
Gross profit	210.6M	209.1M	201.5M	198.6M	195.2M	176.2M	184M	187.6M	184.3M	147.4M	178.9M	182.9M
Gross margin	61.5%	63.3%	62.5%	62.8%	61.9%	60.6%	61.5%	63.1%	61.9%	57.1%	64.1%	64.9%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	13.4M	14.6M	14.8M	14M	20.1M	34.2M	13.5M	23.5M	21.8M	13.8M	17.3M	14.4M
Operating expenses	13.4M	14.6M	10.6M	14M	20.1M	34.2M	13.5M	23.5M	21.8M	13.8M	17.3M	14.4M
Operating income	14.2M	14.4M	12.8M	11.1M	11.8M	813K	19.5M	16.3M	24.7M	34.4M	32.6M	40.4M
Operating margin	4.16%	4.36%	3.97%	3.52%	3.75%	0.28%	6.53%	5.49%	8.29%	13.3%	11.7%	14.3%
Non-operating income, net	-17.8M	6.3M	-267.5M	-94.4M	-45.7M	-50.8M	-10.3M	-122.9M	-27.8M	28.7M	10.9M	-40M
Pretax income	-68.6M	-41.7M	-315.2M	-145.9M	-94.5M	-108.2M	-45.4M	-160.1M	-58.5M	14.6M	21K	-44M
Income tax	—	—	—	—	—	—	—	—	—	—	—	—
Net income	-68.6M	-41.7M	-315.2M	-145.9M	-94.5M	-108.2M	-45.4M	-160.1M	-58.5M	14.6M	21K	-44M
Net margin	-20%	-12.6%	-97.7%	-46.1%	-30%	-37.2%	-15.2%	-53.8%	-19.7%	5.65%	0.01%	-15.6%
EBITDA	205.9M	203.8M	200.4M	194.7M	185.7M	172.3M	181.1M	175.4M	173.2M	171.6M	172.6M	181.7M
EPS	-0.18	—	-0.82	-0.39	-0.26	-0.31	-0.13	-0.45	-0.17	0.04	0	-0.13
Diluted EPS	-0.18	—	-0.82	-0.39	-0.26	-0.31	-0.13	-0.45	-0.17	0.04	0	-0.13

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	3.3B	3.8B	3.5B	4.3B	4B	4.5B	—	—	6.2B	5.9B	6.3B
Enterprise value	4.6B	5.1B	4.8B	5.8B	5.7B	6.4B	—	—	11.1B	10.1B	10.6B
Shares outstanding	108.6M	117.9M	123.3M	128M	133.9M	142.6M	252.4M	378.9M	365.6M	349.8M	349.8M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	38.5	164	50.3	109	54.9	67.7	—	—	—	—	39.9
P/S	7.99	8.92	7.79	9.08	7.93	8.44	—	—	4.96	5.15	5.51
P/B	1.99	2.12	2.04	2.25	2.03	2.07	—	—	1.17	1.27	1.47
EV/EBITDA	19.4	21.4	19.5	22.4	20.5	22	—	—	14.7	14.3	15.1
EV/Sales	11	11.9	10.8	12.3	11.3	12	—	—	8.88	8.72	9.25
Earnings yield	2.6%	0.61%	1.99%	0.92%	1.82%	1.48%	—	—	—	—	2.51%
FCF yield	2.43%	2.62%	3.92%	3.48%	9.49%	2.92%	—	—	4.08%	2.14%	7.82%
PEG	—	—	—	—	—	—	—	—	—	—	-0.56

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	64.4%	63%	62.1%	61.7%	60.7%	60.3%	63.1%	62.8%	62.1%	61%	64.9%
Operating margin	25.8%	21.7%	18%	16.5%	16.4%	16%	8.88%	4.03%	2.93%	8.24%	14.7%
Net margin	20.8%	5.44%	15.5%	8.33%	14.4%	12.5%	4.36%	-21%	-53.1%	-21.7%	-7.57%
ROE	5.18%	1.29%	4.06%	2.06%	3.71%	3.05%	0.53%	-4.08%	-12.5%	-5.33%	-1.92%
ROA	2.81%	0.72%	2.19%	1.1%	1.89%	1.57%	0.29%	-2.23%	-6.23%	-2.71%	0.86%
Return on tangible assets	2.86%	0.73%	2.22%	1.1%	1.9%	1.57%	0.31%	-2.35%	-6.27%	-2.72%	-0.98%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.05	0.69	0.48	0.35	1.99	0.46	0.68	0.9	2.35	1.75	0.34
Quick ratio	1.05	0.69	0.48	0.35	1.99	0.46	0.68	0.9	2.35	1.75	0.26
Debt / equity	0.76	0.72	0.78	0.8	0.88	0.88	0.74	0.77	0.93	0.89	1.03
Debt / assets	0.42	0.4	0.42	0.43	0.45	0.45	0.41	0.42	0.47	0.45	0.49
Net debt / EBITDA	5.37	5.41	5.37	5.89	6.13	6.54	10.2	6.4	6.49	5.88	6.27
Interest coverage	2.57	1.43	2.32	1.7	2.29	2.25	1.29	-0.14	-1.8	-0.2	0.53

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	3.79	3.6	3.65	3.67	3.73	3.75	3.7	3.55	3.42	3.29	3.3
EPS (basic)	0.79	0.18	0.55	0.29	0.52	0.45	0.15	-0.74	-1.81	-0.71	-0.71
EPS (diluted)	0.78	0.18	0.55	0.29	0.52	0.45	0.15	-0.74	-1.81	-0.71	-0.26
Book value per share	15.2	15.2	13.9	14.8	14.5	15.3	30.4	18.3	14.5	13.4	12.3
FCF per share	0.74	0.84	1.12	1.16	2.81	0.93	0.43	0.71	0.69	0.36	0.39
Cash per share	0.05	0.05	0.07	0.01	0.11	0.09	0.24	0.07	0.19	0.07	0.07
Capex per share	0.66	0.68	0.57	0.51	0.7	0.71	0.65	0.61	0.68	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	17.3%	19%	15.7%	13.8%	18.8%	18.8%	17.5%	17.2%	19.9%	—	—
Capex / operating cash flow	42.9%	45.5%	28.9%	28.2%	18.3%	37.1%	35.6%	54.8%	797.4%	—	—
Payout ratio	154%	616.3%	215.4%	396.5%	225.2%	263.2%	3.5K%	-167.4%	-69%	-155.1%	251.5%
Dividend yield	4%	3.76%	4.29%	3.64%	4.1%	3.89%	—	—	7.39%	6.53%	5.34%

Yield

5.34%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.24

ex-dividend Aug 11, 2026

Payout ratio

252%

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 11, 2026	$0.24
May 11, 2026	$0.24
Feb 24, 2026	$0.24

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$342.3M	$330.4M	$322.6M	$316.3M	$315.4M	$290.6M	$299M	$297.5M	$297.8M	$258.1M	$279M	$281.8M
YoY change	+11.7%	-2.25%	-3.1%	-6.45%	-7.84%	-12.1%	-7.33%	-5.95%	-5.6%	-11.2%	-6.69%	-5.26%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	5.4M	6.2M	8.4M	657K	15.3M	13.2M	61M	25.7M	68.9M	26.2M
Receivables	72.6M	74.1M	79.2M	83.5M	78.2M	84.9M	143.5M	180.1M	161.5M	170.2M
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	195M	178.7M	163.1M	128.5M	164M	156.7M	404.9M	504.7M	525.9M	606.1M
Property, plant & equipment	—	—	—	138.8M	125.2M	128.4M	337M	276M	261.4M	204.9M
Goodwill & intangibles	48.8M	46.2M	44M	14.4M	14.6M	19.3M	610.1M	636.6M	66.5M	40.8M
Total assets	3B	3.2B	3.2B	3.6B	3.8B	4.3B	13.8B	12.6B	10.7B	9.2B
Accounts payable	—	—	—	—	—	17M	57.4M	—	—	—
Short-term debt	107M	189M	262M	293M	—	210M	349.1M	349.8M	—	120M
Total current liabilities	185.9M	260.1M	343M	371.7M	82.4M	341.5M	593.6M	562.1M	223.8M	346.2M
Long-term debt	1.2B	1.1B	1.1B	1.2B	1.7B	1.7B	5.4B	4.9B	5B	4B
Total liabilities	1.4B	1.4B	1.5B	1.7B	1.9B	2.1B	6.2B	5.7B	5.3B	4.5B
Shareholders' equity	1.7B	1.8B	1.7B	1.9B	1.9B	2.2B	7.7B	6.9B	5.3B	4.7B
Total debt	1.3B	1.3B	1.3B	1.5B	1.7B	1.9B	5.7B	5.3B	5B	4.1B
Net debt	1.3B	1.3B	1.3B	1.5B	1.7B	1.9B	5.6B	5.3B	4.9B	4.1B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	24.7M	25.7M	26.2M	41.8M	22.8M	68.9M	25.7M	25.5M	43.3M	26.2M	26.2M	19M
Receivables	—	180.1M	—	—	—	161.5M	—	—	—	170.2M	—	—
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	82.3M	504.7M	57.1M	76.3M	179M	525.9M	32.4M	383.7M	648.1M	606.1M	149.6M	114.9M
Property, plant & equipment	323.8M	276M	273.9M	262M	259M	261.4M	259.8M	243.9M	209.3M	204.9M	202.7M	201.9M
Goodwill & intangibles	501.1M	636.6M	0	0	0	66.5M	—	—	—	40.8M	—	—
Total assets	13.1B	12.6B	12.3B	11.8B	11.2B	10.7B	10.5B	10.2B	9.9B	9.2B	9.1B	9B
Accounts payable	—	—	—	—	—	—	—	—	—	—	—	—
Short-term debt	236M	349.8M	120M	250M	549.3M	—	94M	295M	149M	120M	306.4M	275.8M
Total current liabilities	444.8M	562.1M	283.9M	447.7M	754.7M	223.8M	239.3M	519.4M	392.6M	346.2M	457.7M	449.6M
Long-term debt	5.3B	4.9B	5.3B	5.2B	4.7B	5B	4.9B	4.7B	4.6B	4B	4B	4.1B
Total liabilities	6B	5.7B	5.8B	5.8B	5.6B	5.3B	5.3B	5.4B	5.1B	4.5B	4.7B	4.7B
Shareholders' equity	7.1B	6.9B	6.5B	6B	5.6B	5.3B	5.1B	4.9B	4.7B	4.7B	4.5B	4.3B
Total debt	5.6B	5.3B	5.4B	5.5B	5.3B	5B	5B	5B	4.7B	4.1B	4.3B	4.4B
Net debt	5.6B	5.3B	5.4B	5.4B	5.2B	4.9B	5B	4.9B	4.7B	4.1B	4.3B	4.4B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	85.6M	23.1M	69.8M	39.2M	72.2M	66.7M	40.7M	-282.1M	-663.9M	-249.5M
Depreciation & amortization	131M	146.4M	167.2M	180.9M	194.8M	206.5M	477.8M	775.9M	722.3M	611.2M
Stock-based compensation	7.6M	10M	10.7M	12.3M	9.9M	10.7M	20.3M	14.3M	31.8M	22.4M
Change in working capital	-50.6M	2.4M	360K	-1.4M	-5.4M	-7.7M	-57M	-52.1M	-31.1M	-32.3M
Operating cash flow	166.5M	177.3M	245.3M	229.5M	513.7M	271.5M	459.4M	421.7M	31.2M	457.1M
Capital expenditure	-71.4M	-80.6M	-70.8M	-64.7M	-94M	-100.7M	-163.5M	-231M	-249M	—
Investing cash flow	-71.4M	-89.3M	-70.8M	-64.7M	-159.6M	-563.2M	873.7M	-262.1M	-249.8M	49.1M
Dividends paid	-131.8M	-142.3M	-150.3M	-155.4M	-162.6M	-175.5M	-1.4B	-472.2M	-457.9M	-386.9M
Share repurchases	-1.8M	-1.7M	-4.5M	-5.1M	-1.4M	-3.8M	-3.2M	-2.3M	-519.3M	-4M
Financing cash flow	137M	31.4M	-101.2M	197.7M	99.7M	327.7M	-1.9B	-884.2M	-1.4B	-1.2B
Net change in cash	232M	119.3M	73.3M	362.5M	453.8M	36.1M	-526.2M	-724.6M	-1.6B	-704.5M
Free cash flow	79.8M	99.2M	137.5M	148.5M	376.1M	131.9M	109.2M	268.8M	252.6M	126.9M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	-68.6M	-41.7M	-315.2M	-145.9M	-94.5M	-108.2M	-45.4M	-160.1M	-58.5M	14.6M	21K	-44M
Depreciation & amortization	193.4M	191.4M	189.9M	185M	174.9M	172.4M	162.6M	160M	149.4M	139.1M	140.8M	139.6M
Stock-based compensation	2.6M	2.8M	3.6M	3.4M	7.9M	17M	3M	8.8M	7.2M	3.4M	5.4M	4.4M
Change in working capital	-16.5M	-34.8M	-10.3M	6.2M	-4.4M	-22.5M	-13.3M	-1.4M	-12.4M	-5.2M	-22.5M	-19M
Operating cash flow	101.9M	109.3M	-139.9M	43.9M	76.9M	50.3M	99.9M	163.2M	113.8M	132.3M	52.9M	142.2M
Capital expenditure	-62.9M	-74.2M	-50.4M	-67.4M	-69M	-62.2M	-69.1M	—	—	—	—	—
Investing cash flow	-64.8M	-87.2M	-50.4M	-69.8M	-69.3M	-60.4M	-54.8M	36.9M	-3.8M	1.6M	-11.4M	52.8M
Dividends paid	-118.1M	-118.1M	-118.3M	-117.3M	-112.4M	-109.8M	-108.8M	-108.9M	-84.8M	-84.4M	-83.9M	-82.2M
Share repurchases	8K	-464K	-318K	-273.1M	-150M	-95.9M	-215K	-498K	-2.9M	-379K	-102M	-75.7M
Financing cash flow	-248M	22M	-17.1M	-362.5M	-465.7M	-514M	-52.1M	-160.2M	-322.2M	-676.1M	-7.5M	-142.4M
Net change in cash	-210.9M	44.1M	-207.4M	-388.4M	-458M	-524.1M	-7M	39.9M	-212.2M	-542.2M	34M	52.6M
Free cash flow	55.3M	53.2M	25.8M	100.8M	50.3M	75.8M	-21.3M	77.6M	24.9M	45.8M	-8.3M	72.4M

Healthcare Realty Trust Incorporated Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

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P/E

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Per share

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Dividend per share

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Assets vs. liabilities & equity

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Cash generation and uses

Condensed cash flow statement

Split history