Universal Health Realty Income Trust (UHT) intrinsic value & 10-year financials

Universal Health Realty Income Trust (UHT) has a Graham intrinsic value of $26.84 per share. At $38.15 on Oct 17, 2026, the stock trades 42% above that value. Over the last 10 fiscal years revenue grew 4.4% a year to $99.2M, with an average return on invested capital of 6.2%.

Graham intrinsic value
$26.84
Share price (Oct 17, 2026)
$38.15
Price vs Graham value
42% above
Market cap
$528.9M
Revenue (FY2025)
$99.2M
Revenue growth (10-yr CAGR)
4.4%
ROIC (10-yr avg)
6.2%
Free cash flow (FY2025)
—

UHT 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 $99.2M $17.6M $1.27 — 35.0% 3.3%
FY2024 $99.0M $19.2M $1.39 — 37.2% 3.5%
FY2023 $95.6M $15.4M $1.11 $35.3M 32.8% 2.8%
FY2022 $90.6M $21.1M $1.53 $33.2M 33.8% 3.8%
FY2021 $84.2M $109.2M $7.92 $34.7M 34.3% 22.0%
FY2020 $78.0M $19.4M $1.41 $41.9M 33.3% 4.3%
FY2019 $77.2M $19.0M $0.00 $37.5M 33.4% 4.2%
FY2018 $9.2M $24.2M $0.00 $38.9M 290.3% 5.3%
FY2017 $8.3M $45.6M $0.00 $37.0M 289.6% 9.4%
FY2016 $67.1M $17.2M $0.00 -$19.7M 33.0% 3.4%

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

Executive summary

UNIVERSAL HEALTH REALTY INCOME TRUST has demonstrated mature, steady growth, with revenue compounding at 4.4% annually over the past decade.

UNIVERSAL HEALTH REALTY INCOME TRUST has historically struggled to out-earn its cost of capital, averaging just 6.2% ROIC.

Over the decade, UNIVERSAL HEALTH REALTY INCOME TRUST shows that management has aggressively returned capital to shareholders by retiring 99.9% of outstanding shares.

Benjamin Graham lens

Under Benjamin Graham's formula using SEC EDGAR fundamentals, UNIVERSAL HEALTH REALTY INCOME TRUST is modeled at 8.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $26.84 per share.

UHT stock: frequently asked questions

What is the intrinsic value of Universal Health Realty Income Trust (UHT) stock?

Using Benjamin Graham's revised formula, V = EPS × (8.5 + 2g) × 4.4 / Y, with reported diluted earnings per share, a 8.0% normalized growth rate (capped at 15%) and a 5.1% AAA corporate bond yield, UHT's intrinsic value is about $26.84 per share.

Is UHT stock undervalued?

At $38.15 (close on Oct 17, 2026), UHT trades 42% above its Graham value of $26.84. On Graham's terms the shares look fully priced. A formula is a starting point for research, not a recommendation.

How fast has Universal Health Realty Income Trust grown?

Revenue went from $67.1M in fiscal 2016 to $99.2M in fiscal 2025, a compound annual growth rate of 4.4%. Net income was $17.6M in fiscal 2025.

What is UHT's return on invested capital?

Average ROIC over the last 10 fiscal years was 6.2%, and average return on equity was 15.7%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this UHT data come from?

From Universal Health Realty Income Trust's annual 10-K filings on SEC EDGAR, most recently filed May 7, 2026. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

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