Healthcare Realty Trust Inc. (HR) intrinsic value & 10-year financials

Healthcare Realty Trust Inc. (HR) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue shrank 26.7% a year to $28.2M, with an average return on invested capital of -0.1%.

Graham intrinsic value
—
Share price (Oct 17, 2026)
$17.48
Market cap
$6.1B
Revenue (FY2025)
$28.2M
Revenue growth (10-yr CAGR)
-26.7%
ROIC (10-yr avg)
-0.1%
Free cash flow (FY2025)
$126.9M

HR 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 $28.2M -$246.1M -$0.71 $126.9M — -2.7%
FY2024 $19.2M -$654.5M -$1.81 $252.6M — -6.1%
FY2023 $17.5M -$278.3M -$0.74 $268.8M — -2.3%
FY2022 $13.7M $40.9M $0.15 $109.2M — 0.5%
FY2021 $10.3M $98.0M $0.44 $288.5M — 1.8%
FY2020 $7.4M $52.6M $0.24 $313.2M — 0.9%
FY2019 $692.0M $30.2M $0.14 $248.8M — 0.5%
FY2018 $696.4M $213.5M $1.02 $259.5M — 3.7%
FY2017 $614.0M $63.9M $0.34 $242.7M 20.1% 1.4%
FY2016 $460.9M $45.9M $0.33 $160.7M 22.1% 1.3%

Source: annual 10-K filings on SEC EDGAR. Figures in USD.

Executive summary

Healthcare Realty Trust Inc is facing top-line stagnation, with revenue contracting over the decade.

Healthcare Realty Trust Inc has historically struggled to out-earn its cost of capital, averaging just -0.1% ROIC.

Over the decade, Healthcare Realty Trust Inc shows that the company has leveraged its balance sheet to sustain operations.

Benjamin Graham lens

Under Benjamin Graham's formula using SEC EDGAR fundamentals, Healthcare Realty Trust Inc is modeled at -26.7% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-5.81 per share.

HR stock: frequently asked questions

What is the intrinsic value of Healthcare Realty Trust Inc. (HR) stock?

Graham's formula only works with positive earnings. Healthcare Realty Trust Inc. reported diluted EPS of -$0.71 in fiscal 2025, so no Graham value is shown. The 10-year table shows revenue and cash-flow trends instead.

How fast has Healthcare Realty Trust Inc. grown?

Revenue went from $460.9M in fiscal 2016 to $28.2M in fiscal 2025, a compound annual growth rate of -26.7%. Net income was -$246.1M in fiscal 2025.

Does Healthcare Realty Trust Inc. generate free cash flow?

Healthcare Realty Trust Inc. generated $126.9M of free cash flow (operating cash flow minus capital expenditures) in fiscal 2025. Free cash flow was positive in 10 of the last 10 reported years.

What is HR's return on invested capital?

Average ROIC over the last 10 fiscal years was -0.1%, and average return on equity was -0.2%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this HR data come from?

From Healthcare Realty Trust Inc.'s annual 10-K filings on SEC EDGAR, most recently filed Jul 30, 2026. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

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