Universal Health Realty Income Trust (UHT) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+55.5%

$59.85

vs $38.48 price

Levered DCF

$26.76

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

0.92

Distress zone

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	30.87×	26.77×	38.62×	31.2×	7.49×	45.26×	85.04×	34.87×
P/B	3.56×	2.86×	2.97×	2.87×	3.48×	5.55×	8.87×	4.24×
P/S	5.46×	5.19×	6.24×	7.25×	9.72×	11.32×	20.89×	11.05×
EV / EBITDA	13.63×	12.6×	14.71×	17.23×	7.82×	22.25×	34.23×	18.74×
Gross margin	94.4%	94.5%	94.4%	94.4%	94.8%	94.7%	94.8%	95.0%
Operating margin	35.0%	37.2%	32.8%	33.8%	34.3%	33.3%	33.4%	35.0%
Net margin	17.8%	19.4%	16.1%	23.3%	129.7%	24.9%	24.6%	31.7%
Current ratio	15.19×	0.29×	0.31×	0.34×	0.41×	0.06×	0.07×	0.07×
Debt / equity	2.53×	2.11×	1.84×	1.55×	1.45×	1.91×	1.56×	1.32×
Interest coverage	1.59×	1.54×	1.42×	2.85×	3.28×	3.15×	2.44×	2.76×
Dividend yield	7.6%	7.9%	6.7%	6.0%	4.7%	4.3%	2.3%	4.4%
Payout ratio	233.0%	210.0%	258.2%	185.7%	35.3%	195.3%	197.3%	152.2%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	11.6%	10.7%	7.7%	9.2%	46.4%	12.2%	10.4%	12.2%
Return on invested capital	60.8%	6.5%	5.4%	5.2%	4.9%	5.5%	5.4%	9.7%
Return on assets	3.1%	3.3%	2.6%	3.5%	18.2%	3.9%	3.9%	5.0%
Free cash flow yield	9.1%	9.1%	7.3%	5.0%	4.2%	4.7%	2.3%	4.6%
Earnings yield	3.2%	3.7%	2.6%	3.2%	13.3%	2.2%	1.2%	2.9%
Enterprise value	$921.3M	$885.6M	$958.4M	$1B	$1.1B	$1.2B	$1.9B	$1.1B
Net debt / EBITDA	5.61×	5.29×	5.56×	5.95×	2.19×	5.62×	5.01×	4.37×
Cash conversion cycle (days)	49	361	373	392	408	50	50	-46,344