Latest Ratios: P/E Ratio 34.9x · EV/EBITDA 15.6x · ROE 10.6%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $615M | $544M | $515M | $597M | $658M | $819M | $885M | $1.6B | $842M | $1.0B | $883M |
| Enterprise Value | $994M | $923M | $887M | $960M | $1.0B | $1.1B | $1.2B | $1.9B | $1.1B | $1.3B | $1.2B |
| P/E Ratio → | 34.88 | 30.87 | 26.77 | 38.96 | 31.20 | 7.51 | 45.58 | 85.04 | 34.87 | 22.42 | 51.24 |
| P/S Ratio | 6.20 | 5.48 | 5.20 | 6.25 | 7.27 | 9.73 | 11.34 | 20.92 | 11.05 | 14.15 | 13.17 |
| P/B Ratio | 4.03 | 3.57 | 2.87 | 2.97 | 2.87 | 3.48 | 5.56 | 8.88 | 1.85 | 2.21 | 1.76 |
| P/FCF | 12.52 | 11.07 | 10.98 | 13.74 | 19.84 | 23.59 | 21.09 | 42.98 | 21.66 | 27.68 | — |
| P/OCF | 12.52 | 11.07 | 10.98 | 13.74 | 14.07 | 17.17 | 20.01 | 37.84 | 19.62 | 22.24 | 21.69 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 9.30 | 8.96 | 10.04 | 11.09 | 13.51 | 15.16 | 24.50 | 14.41 | 17.64 | 17.82 |
| EV / EBITDA | 15.62 | 14.51 | 13.81 | 16.24 | 17.56 | 20.18 | 22.93 | 36.62 | 21.25 | 25.97 | 26.49 |
| EV / EBIT | 28.59 | 23.84 | 20.60 | 25.64 | 31.55 | 9.64 | 42.69 | 64.09 | 32.44 | 22.92 | 44.98 |
| EV / FCF | — | 18.80 | 18.91 | 22.07 | 30.29 | 32.74 | 28.20 | 50.35 | 28.25 | 34.53 | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 94.4% | 94.4% | 94.5% | 94.4% | 94.4% | 94.8% | 94.7% | 94.8% | 95.0% | 95.1% | 95.1% |
| Operating Margin | 35.0% | 35.0% | 37.2% | 32.8% | 33.8% | 34.3% | 33.3% | 33.4% | 35.0% | 33.2% | 33.0% |
| Net Profit Margin | 17.8% | 17.8% | 19.4% | 16.1% | 23.3% | 129.7% | 24.9% | 24.6% | 31.7% | 63.1% | 25.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 10.6% | 10.6% | 10.1% | 7.2% | 9.1% | 55.4% | 11.4% | 6.0% | 5.3% | 9.4% | 4.9% |
| ROA | 3.1% | 3.1% | 3.3% | 2.6% | 3.5% | 20.0% | 4.0% | 3.9% | 5.0% | 9.0% | 3.5% |
| ROIC | 4.8% | 4.8% | 5.0% | 4.1% | 4.1% | 4.3% | 4.3% | 3.3% | 2.8% | 2.4% | 2.6% |
| ROCE | 8.9% | 8.9% | 15.4% | 11.4% | 10.1% | 10.5% | 10.4% | 9.6% | 9.3% | 7.9% | 7.1% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 2.53 | 2.53 | 2.11 | 1.84 | 1.55 | 1.45 | 1.91 | 1.56 | 0.57 | 0.55 | 0.63 |
| Debt / EBITDA | 6.07 | 6.07 | 5.90 | 6.27 | 6.19 | 6.04 | 5.89 | 5.48 | 5.06 | 5.22 | 7.00 |
| Net Debt / Equity | — | 2.49 | 2.07 | 1.80 | 1.51 | 1.35 | 1.88 | 1.52 | 0.56 | 0.55 | 0.62 |
| Net Debt / EBITDA | 5.96 | 5.96 | 5.79 | 6.13 | 6.06 | 5.64 | 5.78 | 5.36 | 4.96 | 5.15 | 6.91 |
| Debt / FCF | — | 7.73 | 7.93 | 8.33 | 10.45 | 9.15 | 7.11 | 7.36 | 6.59 | 6.84 | — |
| Interest Coverage | 1.77 | 1.77 | 1.81 | 1.70 | 2.96 | 13.39 | 3.35 | 2.80 | 3.50 | 5.53 | 2.84 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 15.19 | 15.19 | 0.29 | 0.31 | 0.34 | 0.41 | 0.06 | 0.07 | 0.07 | 0.06 | 0.05 |
| Quick Ratio | 15.19 | 15.19 | 0.29 | 0.31 | 0.34 | 0.41 | 0.06 | 0.07 | 2.39 | 2.59 | 2.51 |
| Cash Ratio | 5.07 | 5.07 | 0.02 | 0.02 | 0.02 | 0.08 | 0.02 | 0.03 | 0.02 | 0.02 | 0.02 |
| Asset Turnover | — | 0.18 | 0.17 | 0.16 | 0.15 | 0.14 | 0.16 | 0.16 | 0.16 | 0.15 | 0.13 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 6.7% | 7.5% | 7.8% | 6.7% | 5.9% | 4.7% | 4.3% | 2.3% | 4.4% | 3.5% | 4.0% |
| Payout Ratio | 233.0% | 233.0% | 210.0% | 258.2% | 185.7% | 35.3% | 195.3% | 197.3% | 152.2% | 79.0% | 204.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.9% | 3.2% | 3.7% | 2.6% | 3.2% | 13.3% | 2.2% | 1.2% | 2.9% | 4.5% | 2.0% |
| FCF Yield | 8.0% | 9.0% | 9.1% | 7.3% | 5.0% | 4.2% | 4.7% | 2.3% | 4.6% | 3.6% | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 6.7% | 7.5% | 7.9% | 6.7% | 5.9% | 4.7% | 4.3% | 2.3% | 4.4% | 3.5% | 4.0% |
| Shares Outstanding | — | $14M | $14M | $14M | $14M | $14M | $14M | $14M | $14M | $14M | $13M |
Sponsor-Linked Concentration Risk
As reported in recent quarterly filings, UHT consistently maintains a robust NOI margin near 94.4%, reflecting the structural efficiency of its triple-net lease portfolio where tenants bear the primary burden of property-level operating expenses, insurance, and tax obligations, thereby insulating the trust from inflationary cost pressures.
The high NOI margin suggests that the trust's profitability is largely insulated from the operational volatility typical of healthcare facilities. However, the significant gap between NOI and operating margins indicates that advisory fees and administrative overhead remain substantial, which may limit the scalability of earnings without further portfolio expansion.
Based on the provided quarterly data, UHT maintains a consistent dividend payout ratio relative to FFO, with the 2026Q1 dividend of $10.3M representing approximately 86.1% of the $12.0M FFO, suggesting a sustainable distribution policy that is well-covered by the trust's recurring cash flow streams.
The payout ratio appears to be within a manageable range for a healthcare REIT, though it leaves limited room for significant dividend growth without a corresponding increase in FFO per share. Investors should monitor whether the trust's reliance on its sponsor for acquisition opportunities continues to constrain the FFO growth necessary to support future dividend hikes.
According to the latest quarterly data, UHT maintains a debt-to-equity ratio of 2.63 as of 2026Q1, reflecting a conservative capital structure that prioritizes balance sheet stability over aggressive, debt-funded expansion in the current interest rate environment, which may serve as a defensive buffer against sector-specific volatility.
While the low leverage profile provides a fortress-like appearance, it may also indicate an inefficient use of capital that suppresses return on equity compared to more aggressive peers. This conservative posture appears to be a deliberate management choice, potentially positioning the trust to act as a liquidity provider should market conditions deteriorate.
As indicated by the reliance on P/E multiples in standard market data, investors often misapply industrial valuation metrics to UHT, which obscures the trust's true cash-generating capacity by failing to adjust for the significant non-cash depreciation charges inherent in real estate accounting practices.
The P/E ratio is fundamentally misleading for UHT because it treats depreciation as a cash expense, thereby artificially depressing earnings and inflating the valuation multiple. Analysts should instead focus on P/FFO or implied cap rates to better capture the actual economic yield and cash flow sustainability of the underlying healthcare assets.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying UHT stock.
Universal Health Realty Income Trust's current P/E ratio is 34.9x. The historical average is 24.6x. This places it at the 83th percentile of its historical range.
Universal Health Realty Income Trust's current EV/EBITDA is 15.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 19.4x.
Universal Health Realty Income Trust's return on equity (ROE) is 10.6%. The historical average is 14.9%.
Based on historical data, Universal Health Realty Income Trust is trading at a P/E of 34.9x. This is at the 83th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Universal Health Realty Income Trust's current dividend yield is 6.68% with a payout ratio of 233.0%.
Universal Health Realty Income Trust has 94.4% gross margin and 35.0% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Universal Health Realty Income Trust's Debt/EBITDA ratio is 6.1x, indicating high leverage. A ratio above 4x may signal elevated financial risk.