Sabra Health Care REIT, Inc. SBRA
We operate as a self-administered, self-managed REIT that, through our subsidiaries, owns and invests in real estate serving the healthcare industry.
Our primary business consists of acquiring, financing and owning real estate property to be leased to third-party tenants in the healthcare sector. We primarily generate revenues by leasing properties to tenants and owning properties operated by third-party property managers throughout the United States ("U.S.") and Canada.
Our investment portfolio is primarily comprised of skilled nursing/transitional care facilities, senior housing communities ("Senior Housing - Leased"), behavioral health facilities, and specialty hospitals and other facilities, in each case leased to third-party operators; senior housing communities operated by third-party property managers pursuant to property management agreements ("Senior Housing - Managed"); investments in joint ventures; loans receivable; and preferred equity investments.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $356.9M | $284.6M | $236.2M | $186.7M | $155.5M | $156.0M | $128.1M | $70.1M | $26.4M | $260.5M |
| SG&A | $53.7M | $50.1M | $47.5M | $39.6M | $34.7M | $32.8M | $30.9M | $37.1M | $32.4M | $17.7M |
| Pre-tax income | $153.4M | $128.1M | $18.7M | $21.7M | $80.7M | $155.7M | $79.2M | $287.6M | $159.0M | $71.3M |
| Income tax | $1.8M | $1.0M | $2.0M | $1.2M | $1.8M | $710.0K | $3.4M | $3.0M | $651.0K | $1.0M |
| Net income | $155.6M | $126.7M | $13.8M | -$77.6M | -$113.3M | $138.4M | $69.0M | $279.1M | $158.4M | $70.3M |
| EPS, basic | 0.64 | 0.54 | 0.06 | -0.34 | -0.52 | 0.67 | 0.37 | 1.51 | 1.40 | 0.92 |
| EPS, diluted | 0.64 | 0.54 | 0.06 | -0.34 | -0.52 | 0.67 | 0.37 | 1.51 | 1.40 | 0.92 |
| Shares, diluted (wtd. avg.) | $244.5M | $236.0M | $232.8M | $230.9M | $219.1M | $207.3M | $188.1M | $178.7M | $105.8M | $65.5M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $71.5M | $60.5M | $46.7M | $53.9M | $115.9M | $65.5M | $49.1M | $59.7M | $587.4M | $34.7M |
| Other intangibles | $65.3M | $27.5M | $30.9M | $40.1M | $54.1M | $82.8M | $101.5M | $131.1M | $167.1M | $26.2M |
| Total assets | $5.49B | $5.30B | $5.39B | $5.75B | $5.97B | $5.99B | $6.07B | $6.67B | $7.03B | $2.27B |
| Long-term debt | $2.53B | $2.42B | $2.41B | $2.51B | $2.39B | $2.37B | $2.40B | $3.23B | $3.39B | $1.21B |
| Total liabilities | $2.67B | $2.56B | $2.58B | $2.69B | $2.59B | $2.58B | $2.58B | $3.41B | $3.60B | $1.25B |
| Total equity | $2.82B | $2.74B | $2.80B | $3.06B | $3.38B | $3.41B | $3.49B | $3.25B | $3.44B | $1.02B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $348.6M | $310.5M | $300.6M | $315.7M | $356.4M | $354.9M | $372.5M | $360.6M | $135.8M | $175.9M |
| Depreciation and amortisation | $187.0M | $169.6M | $183.1M | $187.8M | $179.0M | $176.7M | $181.5M | $191.4M | $113.9M | $68.5M |
| Stock-based compensation | $11.4M | $9.0M | $7.9M | $7.5M | $7.9M | $7.9M | $9.8M | $7.6M | $8.4M | $7.5M |
| Investing cash flow | -$378.0M | -$109.0M | $103.1M | -$216.2M | -$336.2M | -$136.5M | $262.8M | -$258.5M | -$182.6M | $142.4M |
| Financing cash flow | $40.8M | -$181.6M | -$410.3M | -$161.7M | $30.1M | -$202.1M | -$646.2M | -$629.3M | $598.8M | -$300.9M |
| Dividends paid | $289.5M | $280.1M | $277.4M | $277.2M | $262.9M | $278.3M | $335.4M | $325.2M | $182.1M | $119.3M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001492298-26-000008.
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