LTC Properties, Inc.

LTC

Real EstateSmall CapUS Equities · NYSE / NASDAQ

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Company Profile

LTC Properties, Inc. is a real estate investment trust (REIT) focused on seniors housing and health care properties, principally investing through SHOP, as well as triple-net leases, and joint ventures. The Company's portfolio includes nearly 190 properties throughout the United States. Based on gross real estate investments, approximately 64% of the Company's assets are seniors housing communities with the remainder skilled nursing centers. LTC Properties, Inc. was incorporated in 1992 in Maryland, USA.

Valuation

Market Cap$1.8B

Current Price$37.12as of Jun 23, 2026

P/E Ratio15.12

P/B Ratio1.66

EV / EBITDA13.24

EV / Sales9.94

Profitability

Operating Margin47.4%

Net Profit Margin44.9%

EBITDA Margin75.0%

Returns

ROE11.0%

ROCE7.1%

ROIC %-

ROA5.7%

Solvency

Current Ratio2.67

Debt / Equity0.78

Debt / Assets0.41

CFO / Net Profit1.15

Price History▲ 4.80% over 1Y

Technical Chart

Historical Performance Charts

5-year financial trends. Figures in USD millions.

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Latest fiscal year: 2025

Revenue$263M▲ 25.3%

EBITDA$197M▲ 15.0%

Net Profit$118M▲ 29.6%

Cash from Ops (CFO)$136M▲ 8.0%

Free Cash Flow (FCF)$136M▲ 8.0%

Revenue CAGR 3Y14.5%

Revenue CAGR 5Y-

Net Profit CAGR 3Y5.7%

Net Profit CAGR 5Y-

Historical Growth

Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)

Year	Revenue	EBITDA	Net Profit	FCF	ROE	Rev Growth 1Y	NP Growth 1Y
2025	$263M	$197M	$118M	$136M	11.0%	25.3%	29.6%
2024	$210M	$172M	$91M	$126M	9.5%	6.4%	1.5%
2023	$197M	$176M	$90M	$104M	10.2%	12.6%	-10.3%
2022	$175M	$170M	$100M	$106M	12.1%	-	-
2021	-	-

Financial Statements

Income statement, balance sheet, and cash flow as reported

Consolidated Figures in USD Millions.

Metric	2021	2022	2023	2024	2025
Total Revenue	-	175.15	197.24	209.85	262.85
Operating Revenue	-	175.15	197.24	209.85	262.85
Cost Of Revenue	-	15.49	13.27	12.93	64.88
Gross Profit	-	159.67	183.98	196.92	197.97
Operating Expense	-	62.73	67.38	64.35	73.51
Selling General And Administration	-	23.71	24.29	27.24	31.12
Total Expenses	-	78.22	80.65	77.28	138.39
Operating Income	-	96.94	116.60	132.57	124.46
Total Operating Income As Reported	54.81	99.08	89.96	92.44	-
EBITDA	-	169.52	175.89	171.58	197.24
Normalized EBITDA	-	135.94	155.51	171.38	169.09
EBIT	-	132.02	138.48	135.22	159.36
Interest Expense	-	31.44	47.01	40.34	35.31
Net Interest Income	-	-31.44	-47.01	-40.34	-35.31
Other Income Expense	-	35.08	21.88	2.65	34.90
Interest Expense Non Operating	-	31.44	47.01	40.34	35.31
Net Non Operating Interest Income Expense	-	-31.44	-47.01	-40.34	-35.31
Pretax Income	-	100.58	91.46	94.88	124.06
Tax Provision	-	-	0	0	0.18
Tax Rate For Calcs	-	0	0	0	0
Tax Effect Of Unusual Items	-	7.05	0	0	0.04
Net Income Continuous Operations	-	100.58	91.46	94.88	123.88
Net Income From Continuing And Discontinued Operation	-	100.02	89.74	91.04	117.97
Net Income From Continuing Operation Net Minority Interest	-	100.02	89.74	91.04	117.97
Net Income	-	100.02	89.74	91.04	117.97
Net Income Common Stockholders	-	99.44	89.15	90.36	117.28
Net Income Including Noncontrolling Interests	-	100.58	91.46	94.88	123.88
Normalized Income	-	73.50	69.36	90.83	89.87
Diluted NI Availto Com Stockholders	-	99.44	89.15	90.36	117.28
Basic Average Shares	-	39.89	41.27	43.74	46.23
Diluted Average Shares	-	40.07	41.36	44.24	46.56
Reconciled Depreciation	-	37.50	37.42	36.37	37.87
Reconciled Cost Of Revenue	-	15.49	13.27	12.93	64.88
Total Unusual Items	-	33.58	20.38	0.21	28.15
Total Unusual Items Excluding Goodwill	-	33.58	20.38	0.21	28.15
Minority Interests	-	-0.56	-1.73	-3.84	-5.91
Special Income Charges	-	-4.25	-16.92	-7.77	-49.68
Write Off	-	3.42	0	0	41.46
Impairment Of Capital Assets	-	3.42	15.78	6.95	0
Restructuring And Mergern Acquisition	-	0.83	1.14	0.82	8.22
Gain On Sale Of Security	-	37.83	37.30	7.98	77.82
Depreciation Amortization Depletion Income Statement	-	37.50	37.42	36.37	37.87
Depreciation And Amortization In Income Statement	-	37.50	37.42	36.37	37.87
General And Administrative Expense	-	23.71	24.29	27.24	31.12
Other Gand A	-	23.71	24.29	27.24	31.12
Provision For Doubtful Accounts	-	1.53	5.68	0.74	4.51
Otherunder Preferred Stock Dividend	-	0.58	0.59	0.68	0.70
Earnings From Equity Interest	-	1.50	1.50	2.44	6.76
Average Dilution Earnings	-	0	0	0	0

Peer Comparison

Real Estate sector peers, ranked by market cap

Company	Ticker	Market Cap	P/E	P/B	ROE	EV/EBITDA
LTC Properties, Inc.this co.	LTC	$1.8B	15.12↓ discount	1.66	11.0%	13.24
Pebblebrook Hotel Trust	PEB	$1.9B	-29.01	0.77	-2.7%	15.31
NETSTREIT Corp.	NTST	$1.9B	276.42	1.32	0.5%	21.45
American Assets Trust, Inc.	AAT	$1.9B	25.93	1.61	6.2%	12.35
Xenia Hotels & Resorts, Inc.	XHR	$1.8B

Learn while you research

Hand-picked academy chapters to deepen your understanding of LTC Properties, Inc. and the metrics that matter.

01 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read 02 Growth Investing

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Year

Revenue

EBITDA

Net Profit

FCF

ROE

Rev Growth 1Y

NP Growth 1Y

2025

$263M

$197M

$118M

$136M

11.0%

25.3%

29.6%

2024

$210M

$172M

$91M

$126M

9.5%

6.4%

1.5%

2023

$197M

$176M

$90M

$104M

10.2%

12.6%

-10.3%

2022

$175M

$170M

$100M

$106M

12.1%

2021

Metric

2021

2022

2023

2024

2025

Total Revenue

175.15

197.24

209.85

262.85

Operating Revenue

175.15

197.24

209.85

262.85

Cost Of Revenue

15.49

13.27

12.93

64.88

Gross Profit

159.67

183.98

196.92

197.97

Operating Expense

62.73

67.38

64.35

73.51

Selling General And Administration

23.71

24.29

27.24

31.12

Total Expenses

78.22

80.65

77.28

138.39

Operating Income

96.94

116.60

132.57

124.46

Total Operating Income As Reported

54.81

99.08

89.96

92.44

EBITDA

169.52

175.89

171.58

197.24

Normalized EBITDA

135.94

155.51

171.38

169.09

EBIT

132.02

138.48

135.22

159.36

Interest Expense

31.44

47.01

40.34

35.31

Net Interest Income

-31.44

-47.01

-40.34

-35.31

Other Income Expense

35.08

21.88

2.65

34.90

Interest Expense Non Operating

31.44

47.01

40.34

35.31

Net Non Operating Interest Income Expense

-31.44

-47.01

-40.34

-35.31

Pretax Income

100.58

91.46

94.88

124.06

Tax Provision

0.18

Tax Rate For Calcs

Tax Effect Of Unusual Items

7.05

0.04

Net Income Continuous Operations

100.58

91.46

94.88

123.88

Net Income From Continuing And Discontinued Operation

100.02

89.74

91.04

117.97

Net Income From Continuing Operation Net Minority Interest

100.02

89.74

91.04

117.97

Net Income

100.02

89.74

91.04

117.97

Net Income Common Stockholders

99.44

89.15

90.36

117.28

Net Income Including Noncontrolling Interests

100.58

91.46

94.88

123.88

Normalized Income

73.50

69.36

90.83

89.87

Diluted NI Availto Com Stockholders

99.44

89.15

90.36

117.28

Basic Average Shares

39.89

41.27

43.74

46.23

Diluted Average Shares

40.07

41.36

44.24

46.56

Reconciled Depreciation

37.50

37.42

36.37

37.87

Reconciled Cost Of Revenue

15.49

13.27

12.93

64.88

Total Unusual Items

33.58

20.38

0.21

28.15

Total Unusual Items Excluding Goodwill

33.58

20.38

0.21

28.15

Minority Interests

-0.56

-1.73

-3.84

-5.91

Special Income Charges

-4.25

-16.92

-7.77

-49.68

Write Off

3.42

41.46

Impairment Of Capital Assets

3.42

15.78

6.95

Restructuring And Mergern Acquisition

0.83

1.14

0.82

8.22

Gain On Sale Of Security

37.83

37.30

7.98

77.82

Depreciation Amortization Depletion Income Statement

37.50

37.42

36.37

37.87

Depreciation And Amortization In Income Statement

37.50

37.42

36.37

37.87

General And Administrative Expense

23.71

24.29

27.24

31.12

Other Gand A

23.71

24.29

27.24

31.12

Provision For Doubtful Accounts

1.53

5.68

0.74

4.51

Otherunder Preferred Stock Dividend

0.58

0.59

0.68

0.70

Earnings From Equity Interest

1.50

2.44

6.76

Average Dilution Earnings

Company

Ticker

Market Cap

P/E

P/B

ROE

EV/EBITDA

LTC Properties, Inc.this co.

LTC

$1.8B

15.12↓ discount

1.66

11.0%

13.24

Pebblebrook Hotel Trust

PEB

$1.9B

-29.01

0.77

-2.7%

15.31

NETSTREIT Corp.

NTST

$1.9B

276.42

1.32

0.5%

21.45

American Assets Trust, Inc.

AAT

$1.9B

25.93

1.61

6.2%

12.35

Xenia Hotels & Resorts, Inc.

XHR

$1.8B

LTC Properties, Inc.

Valuation

Profitability

Returns

Solvency

Historical Performance Charts

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Historical Growth

Financial Statements

Peer Comparison

LTC Properties, Inc.

Valuation

Profitability

Returns

Solvency

Historical Performance Charts

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Historical Growth

Financial Statements

Peer Comparison

Key concepts to brush up on