American Healthcare REIT (AHR) Operating Expenses (2016 - 2026)
American Healthcare REIT (AHR) recorded Operating Expenses of $631.81 million in Q2 2026, up 27.4% from $496.08 million a year earlier and up 3.3% from the prior quarter.
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Analysis
American Healthcare REIT (AHR) Operating Expenses (2016 - 2026) Analysis & Trends
On a TTM basis, American Healthcare REIT's Operating Expenses came in at $2.34 billion as of Jun 30, 2026, up 17.6% year-over-year; for FY2025, it came in at $2.1 billion, up 8.0% from FY2024.
- Annual Operating Expenses has increased for six straight years, with a five-year compound annual growth rate of 12.7% (FY2020 to FY2025).
- Across earlier years, Operating Expenses came in at $1.94 billion in FY2024 (+8.1%), $1.8 billion in FY2023 (+15.3%), $1.56 billion in FY2022 (+23.7%) and $1.26 billion in FY2021 (+9.2%).
- The Q2 2026 figure is the highest quarterly Operating Expenses since Q4 2020.
- On a year-over-year basis, Operating Expenses has increased for 18 consecutive quarters, with growth averaging 12.5% over the last eight quarters.
- Peak year-over-year performance for Operating Expenses in the last five years was growth of 665.7% in Q3 2021, against a decline of 64.2% in Q4 2021 at the low end.
- Per Business Quant, the preceding three quarters came in at $611.91 million (Q1 2026), $567.65 million (Q4 2025) and $530.46 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Welltower | 167.90 Bn | 150.42 Bn | 1.39 Bn | 3.22 Bn |
| 2 | Prologis | 123.74 Bn | 128.13 Bn | - | 1.47 Bn |
| 3 | Simon Property | 66.68 Bn | 67.94 Bn | - | 900.79 Mn |
| 4 | Realty Income | 52.20 Bn | 54.59 Bn | - | 1.19 Bn |
| 5 | Public Storage | 50.15 Bn | 49.24 Bn | - | 766.20 Mn |
| 6 | Ventas | 44.59 Bn | 43.78 Bn | - | 1.68 Bn |
| 7 | Extra Space Storage | 28.21 Bn | 28.21 Bn | 642.43 Mn | 481.97 Mn |
| 8 | Vici Properties | 25.53 Bn | 23.65 Bn | 1.05 Bn | 315.61 Mn |
| 9 | Vivmark Residential | 23.00 Bn | 23.19 Bn | - | 566.18 Mn |
| 10 | American Healthcare REIT | 10.14 Bn | 9.50 Bn | 149.41 Mn | 631.81 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 631.81 Mn |
| Mar 31, 2026 | 611.91 Mn |
| Dec 31, 2025 | 567.65 Mn |
| Sep 30, 2025 | 530.46 Mn |
| Jun 30, 2025 | 496.08 Mn |
| Mar 31, 2025 | 502.17 Mn |
| Dec 31, 2024 | 503.40 Mn |
| Sep 30, 2024 | 489.98 Mn |
| Jun 30, 2024 | 472.91 Mn |
| Mar 31, 2024 | 474.73 Mn |
| Dec 31, 2023 | 456.92 Mn |
| Sep 30, 2023 | 450.82 Mn |
| Jun 30, 2023 | 444.57 Mn |
| Mar 31, 2023 | 443.40 Mn |
| Dec 31, 2022 | 434.93 Mn |
| Sep 30, 2022 | 402.62 Mn |
| Jun 30, 2022 | 363.38 Mn |
| Mar 31, 2022 | 356.05 Mn |
| Dec 31, 2021 | 371.93 Mn |
| Sep 30, 2021 | 303.98 Mn |
API Access
American Healthcare REIT Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=AHR&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "AHR", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=AHR&period=max&api_key=YOUR_API_KEY");
const data = await res.json();