LTC Properties, Inc. (LTC) 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	$0.44	$0.47	+6.8%	—	$98.9M	—
Q1 26	$0.44	$0.46	+4.5%	—	$95.4M	—
Q4 25	$1.61	$1.87	+16.1%	—	$84.3M	—
Q3 25	$0.47	$0.48	+2.1%	—	$69.3M	—
Q2 25	$1.29	$0.46	-64.3%	—	$60.2M	—
Q1 25	$0.46	$0.46	0.0%	—	$49M	—
Q4 24	$0.47	$0.45	-4.3%	—	$52.6M	—
Q3 24	$0.5	$0.57	+14.0%	—	$55.8M	—
Q2 24	$0.44	$0.45	+2.3%	—	$50.1M	—
Q1 24	$0.58	$0.49	-15.5%	—	$51.4M	—
Q4 23	$0.46	$0.43	-6.5%	—	$50.2M	—
Q3 23	$0.46	$0.54	+17.4%	—	$49.3M	—
Q2 23	$0.42	$0.15	-64.3%	—	$48.2M	—
Q1 23	$0.49	$0.8	+63.3%	—	$49.5M	—
Q4 22	$0.45	$0.49	+8.9%	—	$47.8M	—
Q3 22	$0.41	$0.32	-22.0%	—	$43.5M	—

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	—	$2.54	—	—	$262.9M	—
FY24	—	$2.07	—	—	$209.8M	—
FY23	—	$2.16	—	—	$197.2M	—
FY22	—	$2.49	—	—	$175.2M

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	$161.6M	$168.1M	$168.6M	$185.3M	$159.3M	$155.3M	$175.2M	$197.2M	$209.8M	$262.9M
YoY change	+18.6%	+4.01%	+0.35%	+9.88%	-14%	-2.52%	+12.8%	+12.6%	+6.39%	+25.3%

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	161.6M	168.1M	168.6M	185.3M	159.3M	155.3M	175.2M	197.2M	209.8M	262.9M
Cost of revenue	26.4M	0	0	16.8M	15.1M	15.4M	15.5M	13.3M	12.9M	64.9M
Gross profit	135.1M	168.1M	168.6M	168.5M	144.3M	139.9M	159.7M	184M	196.9M	198M
Gross margin	83.6%	100%	100%	91%	90.5%	90.1%	91.2%	93.3%	93.8%	75.3%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	17.4M	17.5M	19.2M	18.5M	19.7M	21.5M	23.7M	24.3M	27.2M	31.1M
Operating expenses	17.6M	17.6M	19.3M	18.5M	19.7M	21.5M	23.7M	24.3M	27.2M	31.1M
Operating income	107.8M	113.1M	111.8M	110.7M	85.5M	79.2M	96.9M	116.6M	132.6M	124.5M
Operating margin	66.7%	67.3%	66.3%	59.7%	53.7%	51%	55.3%	59.1%	63.2%	47.4%
Non-operating income, net	3.8M	4.1M	73.5M	740K	39.9M	4.4M	35.1M	21.9M	2.6M	34.9M
Pretax income	85.1M	87.3M	155.1M	80.9M	95.7M	56.2M	100.6M	91.5M	94.9M	124.1M
Income tax	—	—	—	—	—	—	—	—	—	179K
Net income	85.1M	87.3M	155.1M	80.9M	95.7M	56.2M	100.6M	91.5M	94.9M	123.9M
Net margin	52.7%	52%	92%	43.6%	60%	36.2%	57.4%	46.4%	45.2%	47.1%
EBITDA	144.9M	153M	152.2M	152.3M	124.2M	118.9M	135.9M	155.5M	171.4M	169.1M
EPS	2.21	2.21	3.91	2.03	2.42	1.41	2.49	2.16	2.07	2.54
Diluted EPS	2.21	2.2	3.89	2.02	2.42	1.41	2.48	2.16	2.04	2.52

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	49.3M	50.2M	51.4M	50.1M	55.8M	52.6M	49M	60.2M	69.3M	84.3M	95.4M	98.9M
Cost of revenue	3.3M	3.5M	3.4M	3.2M	3.2M	3.1M	3.1M	12.2M	19.9M	29.6M	39.3M	44.3M
Gross profit	46M	46.7M	48M	46.9M	52.6M	49.5M	45.9M	48M	49.3M	54.7M	56.1M	54.5M
Gross margin	93.4%	93%	93.4%	93.5%	94.3%	94.1%	93.7%	79.7%	71.2%	64.9%	58.8%	55.2%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	6M	5.9M	6.5M	6.8M	6.8M	7.2M	7M	8.4M	7.5M	8.2M	8.6M	8.2M
Operating expenses	6M	5.9M	6.5M	6.8M	6.8M	7.2M	7M	8.4M	7.5M	8.2M	8.6M	8.2M
Operating income	30.4M	27.8M	32.4M	30.4M	36.6M	33.2M	26.7M	30.4M	32.6M	34.7M	36.3M	34M
Operating margin	61.6%	55.4%	63%	60.6%	65.5%	63.2%	54.5%	50.5%	47.1%	41.1%	38%	34.4%
Non-operating income, net	4.9M	13.3M	3.4M	259K	4.3M	-5.3M	3.4M	-5.9M	-42.3M	79.8M	-403K	6.5M
Pretax income	22.6M	28.7M	24.7M	19.7M	30.9M	19.6M	22.2M	16.5M	-18.5M	103.9M	25.1M	31M
Income tax	—	—	—	—	—	—	—	-81K	42K	218K	110K	166K
Net income	22.6M	28.7M	24.7M	19.7M	30.9M	19.6M	22.2M	16.5M	-18.5M	103.7M	25M	30.8M
Net margin	45.9%	57.1%	48.1%	39.4%	55.3%	37.3%	45.3%	27.5%	-26.8%	123%	26.2%	31.2%
EBITDA	40.3M	37.5M	41.8M	40.1M	46.3M	43.1M	39.6M	39.6M	42.1M	47.8M	48.5M	46.5M
EPS	0.54	0.67	0.56	0.44	0.66	0.4	0.45	0.33	-0.44	2.13	0.48	0.57
Diluted EPS	0.54	0.67	0.56	0.44	0.66	0.39	0.45	0.32	-0.44	2.11	0.48	0.56

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	1.8B	1.7B	1.6B	1.8B	1.5B	1.3B	1.4B	1.3B	1.5B	1.6B	2.3B
Enterprise value	2.4B	2.4B	2.3B	2.5B	2.2B	2.1B	2.2B	2.2B	2.2B	2.4B	3.1B
Shares outstanding	38.4M	39.4M	39.5M	39.6M	39.2M	39.2M	39.9M	41.3M	43.7M	46.2M	46.2M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	21.2	19.7	10.6	21.9	15.9	23.8	14.1	14.5	15.9	12.8	15.4
P/S	11.2	10.2	9.76	9.56	9.57	8.61	8.09	6.72	7.2	6.05	6.83
P/B	2.44	2.26	1.98	2.26	1.96	1.79	1.67	1.45	1.44	1.37	2.19
EV/EBITDA	16.6	15.5	15	16.2	17.4	17.3	16	14.1	12.8	14.3	23.7
EV/Sales	14.9	14.2	13.6	13.3	13.6	13.2	12.4	11.1	10.4	9.2	9.2
Earnings yield	4.72%	5.09%	9.42%	4.56%	6.28%	4.21%	7.1%	6.9%	6.28%	7.79%	6.5%
FCF yield	5.78%	6.08%	6.95%	6.88%	7.59%	6.82%	7.45%	7.88%	8.28%	8.56%	11%
PEG	—	—	—	—	—	—	—	—	—	—	0.21

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	83.6%	100%	100%	91%	90.5%	90.1%	91.2%	93.3%	93.8%	75.3%	55.2%
Operating margin	66.7%	67.3%	66.3%	59.7%	53.7%	51%	55.3%	59.1%	63.2%	47.4%	32.7%
Net margin	52.7%	52%	92%	43.6%	60%	36.2%	57.4%	46.4%	45.2%	47.1%	39.8%
ROE	11.5%	11.5%	18.6%	10.3%	12.3%	7.55%	11.8%	9.98%	9.01%	10.7%	11.8%
ROA	6.1%	5.96%	10.2%	5.34%	6.56%	3.74%	6.07%	4.93%	5.31%	6.01%	2.76%
ROIC	—	—	—	—	—	—	—	—	—	6.24%	6.59%
Return on tangible assets	6.1%	5.96%	10.2%	5.34%	6.56%	3.74%	6.07%	4.93%	5.31%	6.05%	6.51%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	7.53	8.4	10.2	10.8	9.97	12.1	16.5	18.2	4.29	2.67	20.8
Quick ratio	7.53	8.3	10.1	9.99	9.97	12.1	16.2	17.8	4.29	2.67	3.07
Debt / equity	0.82	0.88	0.77	0.88	0.84	0.97	0.9	0.97	0.65	0.72	0.58
Debt / assets	0.44	0.46	0.43	0.46	0.44	0.48	0.46	0.48	0.38	0.41	0.36
Net debt / EBITDA	4.15	4.33	4.22	4.52	5.16	6.04	5.57	5.6	3.94	4.9	4
Interest coverage	4.22	3.92	6.14	3.64	4.22	3.05	4.2	2.95	3.35	4.51	4.57
Effective tax rate	—	—	—	—	—	—	—	—	—	0.14%	0.38%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	4.21	4.26	4.27	4.68	4.07	3.97	4.39	4.78	4.8	5.69	7
EPS (basic)	2.21	2.21	3.91	2.03	2.42	1.41	2.49	2.16	2.07	2.54	2.54
EPS (diluted)	2.21	2.2	3.89	2.02	2.42	1.41	2.48	2.16	2.04	2.52	2.8
Book value per share	19.3	19.3	21.1	19.8	19.8	19	21.3	22.2	24.1	25.1	19.6
FCF per share	2.72	2.65	2.9	3.08	2.95	2.33	2.65	2.53	2.86	2.94	2.71
Cash per share	0.21	0.13	0.07	0.11	0.2	0.13	0.26	0.49	0.22	0.31	0.75

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Payout ratio	99.4%	103.3%	58.3%	112.4%	94.3%	161%	91%	103.6%	106%	86.7%	81.4%
Dividend yield	4.69%	5.26%	5.49%	5.13%	5.92%	6.77%	6.46%	7.15%	6.65%	6.76%	5.29%

Yield

5.29%

trailing twelve months

Frequency

Monthly

Last dividend

$0.19

ex-dividend Aug 21, 2026

Payout ratio

81%

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 21, 2026	$0.19
Jul 23, 2026	$0.19
Jun 22, 2026	$0.19

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	$49.3M	$50.2M	$51.4M	$50.1M	$55.8M	$52.6M	$49M	$60.2M	$69.3M	$84.3M	$95.4M	$98.9M
YoY change	+13.3%	+4.92%	+3.77%	+3.88%	+13.1%	+4.76%	-4.55%	+20.2%	+24.2%	+60.3%	+94.6%	+64.1%

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	8M	5.2M	2.7M	4.2M	7.8M	5.2M	10.4M	20.3M	9.4M	14.4M
Receivables	55.3M	64.5M	73.9M	45.7M	24.5M	24.1M	21.8M	19.6M	21.5M	21.1M
Inventory	0	3.8M	3.8M	26.9M	0	0	10.7M	18.4M	670K	—
Total current assets	342.1M	331.1M	362.8M	380.5M	342M	448.5M	625.9M	864.6M	828.3M	827.4M
Property, plant & equipment	—	—	—	—	—	—	—	—	—	2.6M
Goodwill & intangibles	—	—	—	—	—	—	—	—	—	13M
Total assets	1.4B	1.5B	1.5B	1.5B	1.5B	1.5B	1.7B	1.9B	1.8B	2.1B
Accounts payable	—	—	—	—	—	—	—	—	—	—
Short-term debt	—	—	—	—	—	—	—	—	144.3M	252.9M
Total current liabilities	45.5M	39.4M	35.6M	35.4M	34.3M	37M	37.9M	47.5M	192.9M	310.4M
Long-term debt	609.4M	667.5M	645M	693.4M	649.4M	722.7M	767.9M	891.3M	540.3M	589.3M
Total liabilities	654.8M	706.9M	680.6M	728.8M	683.7M	759.7M	805.8M	938.8M	733.1M	899.7M
Shareholders' equity	740M	758.6M	833M	785.4M	775.8M	745.1M	850.3M	916.3M	1.1B	1.2B
Total debt	609.4M	667.5M	645M	693.4M	649.4M	722.7M	767.9M	891.3M	684.6M	842.2M
Net debt	601.4M	662.3M	642.4M	689.1M	641.6M	717.6M	757.5M	871M	675.2M	827.8M

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	11.3M	20.3M	9M	6.2M	35M	9.4M	23.3M	7.6M	17.9M	14.4M	21.7M	40.4M
Receivables	20.1M	19.6M	19.1M	18.7M	18.7M	21.5M	20.7M	20.2M	18.5M	21.1M	22M	22.3M
Inventory	9.4M	18.4M	389K	4.2M	4.1M	670K	42.5M	—	—	—	—	—
Total current assets	830.3M	864.6M	824.1M	895.9M	882.1M	828.3M	840M	868.9M	851.8M	827.4M	768.4M	791.2M
Property, plant & equipment	—	—	—	—	—	—	—	—	—	2.6M	2.5M	2.4M
Goodwill & intangibles	—	—	—	—	—	—	—	—	—	13M	12.7M	12.3M
Total assets	1.9B	1.9B	1.8B	1.9B	1.9B	1.8B	1.8B	1.8B	2B	2.1B	2.1B	2.2B
Accounts payable	—	—	—	—	—	—	—	—	—	—	—	—
Short-term debt	362.3M	—	277.1M	281.8M	240.2M	144.3M	148.8M	268.4M	548.5M	252.9M	285.5M	202.4M
Total current liabilities	413.5M	47.5M	316.4M	328.7M	285M	192.9M	192.9M	322.4M	603.1M	310.4M	334.9M	258.1M
Long-term debt	594M	891.3M	583.2M	579.3M	545.2M	540.3M	533.3M	428M	396.1M	589.3M	584.5M	577.1M
Total liabilities	1B	938.8M	899.6M	908M	830.2M	733.1M	726.2M	750.5M	999.2M	899.7M	919.3M	835.2M
Shareholders' equity	860.4M	916.3M	918.8M	982.8M	1B	1.1B	1B	1B	1B	1.2B	1.2B	1.3B
Total debt	956.2M	891.3M	860.2M	861M	785.3M	684.6M	682.2M	696.5M	944.5M	842.2M	869.9M	779.5M
Net debt	944.9M	871M	851.2M	854.8M	750.3M	675.2M	658.9M	688.8M	926.6M	827.8M	848.3M	739.1M

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	85.1M	87.3M	155.1M	80.9M	95.7M	56.2M	100.6M	91.5M	94.9M	123.9M
Depreciation & amortization	35.9M	37.6M	37.6M	39.2M	39.1M	38.3M	37.5M	37.4M	36.4M	37.9M
Stock-based compensation	4.3M	5.2M	5.9M	6.6M	7M	7.8M	8M	8.5M	9.1M	9.3M
Change in working capital	-4.1M	-8.8M	-2.6M	-7.6M	-8.2M	-4.6M	-5.1M	-13.5M	-12.7M	-10M
Operating cash flow	106.8M	107.4M	187.7M	117.5M	156.3M	99.7M	144.3M	125M	127.6M	136M
Capital expenditure	—	—	—	—	—	—	—	—	—	—
Investing cash flow	-31.8M	1.7M	-16.2M	-10.6M	9.3M	-107.1M	-131.7M	-187.7M	65.8M	-34.8M
Dividends paid	-84.6M	-90.2M	-90.4M	-90.9M	-90.3M	-90.5M	-91.5M	-94.8M	-100.5M	-107.4M
Share repurchases	—	—	0	0	-18M	0	0	—	—	—
Financing cash flow	29.1M	-16.3M	-112.5M	-44.1M	-156.5M	-24M	19.6M	80.4M	-226.7M	138.9M
Net change in cash	104.1M	92.8M	59M	62.8M	9.1M	-31.5M	32.3M	17.7M	-33.3M	240.1M
Free cash flow	104.3M	104.4M	114.3M	121.9M	115.7M	91.2M	105.6M	104.4M	125.2M	136M

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	22.6M	28.7M	24.7M	19.7M	30.9M	19.6M	22.2M	16.5M	-18.5M	103.7M	25M	30.8M
Depreciation & amortization	9.5M	9.3M	9.1M	9M	9.1M	9.2M	9.2M	8.8M	9M	10.9M	12M	12.4M
Stock-based compensation	2.1M	2.1M	2.2M	2.3M	2.3M	2.3M	2.3M	2.8M	2.1M	2.1M	2.1M	2.3M
Change in working capital	3.1M	-4.6M	-12.2M	4.8M	-3.6M	-1.9M	-8.4M	767K	-2.9M	-2.4M	-8.6M	-1.7M
Operating cash flow	37.6M	35.9M	23.5M	36.5M	38.8M	28.6M	26.8M	30M	38.4M	37.9M	30.8M	34.4M
Capital expenditure	—	—	—	—	—	—	—	—	—	—	—	—
Investing cash flow	-18.9M	9.1M	-2.5M	-20.3M	39.7M	48.8M	11.4M	-38.8M	-20.6M	13.2M	-8.2M	9.9M
Dividends paid	-23.6M	-24M	-24.6M	-24.8M	-25.3M	-25.8M	-27.3M	-26.3M	-26.5M	-27.4M	-29.2M	-29.8M
Share repurchases	—	—	—	—	—	—	—	—	—	—	—	—
Financing cash flow	-21.3M	-35.8M	-53.4M	-17.5M	-46.4M	-109.2M	-27.3M	-7.4M	262.3M	-88.6M	33.3M	62.4M
Net change in cash	-2.5M	9.2M	-32.4M	-1.2M	32.1M	-31.8M	10.9M	-16.2M	280.1M	-37.5M	55.9M	106.6M
Free cash flow	32.4M	25.5M	20.9M	36.8M	33.9M	33.3M	29.6M	30M	38.4M	37.9M	30.8M	34.4M

LTC Properties, Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history