Sabra Health Care REIT, Inc. (SBRA) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$0.17	$0.15	-11.8%	—	$235.9M	—
Q1 26	$0.16	$0.16	0.0%	—	$221.8M	—
Q4 25	$0.16	$0.16	0.0%	—	$211.9M	—
Q3 25	$0.18	$0.17	-5.6%	—	$190M	—
Q2 25	$0.17	$0.25	+47.1%	—	$189.2M	—
Q1 25	$0.17	$0.17	0.0%	—	$183.5M	—
Q4 24	$0.17	$0.17	0.0%	—	$182.3M	—
Q3 24	$0.16	$0.15	-6.3%	—	$178M	—
Q2 24	$0.15	$0.16	+6.7%	—	$176.1M	—
Q1 24	$0.14	$0.13	-7.1%	—	$166.7M	—
Q4 23	$0.14	$0.11	-21.4%	—	$163.4M	—
Q3 23	$0.13	-$0.07	-153.8%	—	$161.6M	—
Q2 23	$0.1	$0.09	-10.0%	—	$161.2M	—
Q1 23	$0.11	-$0.04	-136.4%	—	$161.3M	—
Q4 22	$0.13	-$0.37	-384.6%	—	$165M	—
Q3 22	$0.16	-$0.22	-237.5%	—	$140.8M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$0.64	—	—	$774.6M	—
FY24	—	$0.54	—	—	$703.2M	—
FY23	—	$0.06	—	—	$647.5M	—
FY22	—	-$0.34	—	—	$624.8M

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$260.5M	$408.3M	$623.4M	$661.7M	$598.6M	$569.5M	$624.8M	$647.5M	$703.2M	$774.6M
YoY change	+9.07%	+56.7%	+52.7%	+6.15%	-9.55%	-4.85%	+9.7%	+3.63%	+8.61%	+10.2%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	260.5M	408.3M	623.4M	661.7M	598.6M	569.5M	624.8M	647.5M	703.2M	774.6M
Cost of revenue	5.7M	17.9M	49.5M	108.5M	131.6M	141.2M	162.6M	195.2M	227.1M	271.1M
Gross profit	254.8M	390.4M	573.9M	553.3M	467M	428.3M	462.2M	452.3M	476.1M	503.5M
Gross margin	97.8%	95.6%	92.1%	83.6%	78%	75.2%	74%	69.8%	67.7%	65%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	17.7M	32.4M	37.1M	30.9M	32.8M	34.7M	39.6M	47.5M	50.1M	53.7M
Operating expenses	23.4M	50.3M	86.6M	30.9M	32.8M	38.6M	39.7M	47.5M	49.5M	53.7M
Operating income	163.1M	227M	306.3M	339.6M	255.7M	210.7M	234.7M	221.5M	256.5M	263.9M
Operating margin	62.6%	55.6%	49.1%	51.3%	42.7%	37%	37.6%	34.2%	36.5%	34.1%
Non-operating income, net	-27M	20.4M	122.9M	-140.6M	-16.1M	-223.5M	-205.6M	-92.8M	-13.5M	6M
Pretax income	71.3M	159M	282.1M	72.4M	139.1M	-111.4M	-76.4M	15.8M	127.7M	157.3M
Income tax	1M	651K	3M	3.4M	710K	1.8M	1.2M	2M	1M	1.8M
Net income	70.2M	158.4M	279.1M	69M	138.4M	-113.3M	-77.6M	13.8M	126.7M	155.5M
Net margin	26.9%	38.8%	44.8%	10.4%	23.1%	-19.9%	-12.4%	2.12%	18%	20.1%
EBITDA	242.3M	341.4M	496.7M	516.4M	418M	198M	323.4M	404.3M	429M	468.8M
EPS	0.92	1.4	1.51	0.37	0.67	-0.52	-0.34	0.06	0.54	0.64
Diluted EPS	0.92	1.4	1.51	0.37	0.67	-0.52	-0.34	0.06	0.54	0.64

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	161.6M	163.4M	166.7M	176.1M	178M	182.3M	183.5M	189.2M	190M	211.9M	221.8M	235.9M
Cost of revenue	48.8M	49.9M	54M	54.8M	58.5M	59.8M	59.9M	61.1M	69.7M	80.4M	85.6M	92.3M
Gross profit	112.8M	113.5M	112.8M	121.4M	119.5M	122.5M	123.6M	128M	120.4M	131.5M	136.1M	143.6M
Gross margin	69.8%	69.5%	67.6%	68.9%	67.1%	67.2%	67.3%	67.7%	63.3%	62%	61.4%	60.9%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	10.8M	16.7M	11.9M	12.7M	12.4M	13M	12.7M	12.5M	12.6M	15.9M	14.9M	16.8M
Operating expenses	11.1M	16.7M	11.8M	12.6M	12.3M	12.9M	12.7M	12.5M	12.3M	15.9M	14.9M	16.8M
Operating income	58.5M	54.3M	58.1M	67M	64.4M	67.2M	67.4M	71.9M	59.6M	64.6M	68.3M	-32M
Operating margin	36.2%	33.2%	34.8%	38%	36.2%	36.8%	36.7%	38%	31.3%	30.5%	30.8%	-13.6%
Non-operating income, net	-45M	-8.7M	-3M	-13.2M	-5.4M	8M	429K	21.6M	-7.7M	-8M	1.4M	37.3M
Pretax income	-14.6M	17.6M	26.7M	24.4M	29.5M	47.1M	40.7M	66M	23M	27.6M	41.3M	-24.6M
Income tax	455K	493K	453K	437K	-265K	380K	413K	497K	436K	491K	526K	678K
Net income	-15.1M	17.2M	26.3M	24M	29.8M	46.7M	40.3M	65.5M	22.5M	27.1M	40.8M	-25.2M
Net margin	-9.34%	10.5%	15.7%	13.6%	16.7%	25.6%	22%	34.7%	11.8%	12.8%	18.4%	-10.7%
EBITDA	103.3M	96.5M	101.2M	109M	107.5M	111.4M	111.3M	131.3M	108.5M	117.7M	123.3M	23.9M
EPS	-0.07	—	0.11	0.1	0.13	0.2	0.17	0.28	0.09	0.11	0.16	-0.1
Diluted EPS	-0.07	—	0.11	0.1	0.13	0.19	0.17	0.27	0.09	0.11	0.16	-0.1

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	1.6B	—	—	4B	—	3B	2.9B	3.3B	4B	4.6B	5.1B
Enterprise value	2.8B	—	—	6.4B	—	5.3B	5.4B	5.7B	6.4B	7B	7.5B
Shares outstanding	65.3M	105.6M	178.3M	187.2M	206.2M	219.1M	230.9M	231.2M	233.5M	241.3M	241.3M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	22.7	—	—	57.9	—	—	—	239.8	31.9	29.4	75.9
P/S	6.12	—	—	6.04	—	5.21	4.59	5.1	5.75	5.9	5.84
P/B	1.57	—	—	1.14	—	0.88	0.94	1.18	1.48	1.62	1.83
EV/EBITDA	11.5	—	—	12.4	—	26.8	16.6	14.1	15	15	20.2
EV/Sales	10.7	—	—	9.71	—	9.3	8.6	8.81	9.14	9.1	8.64
Earnings yield	4.4%	—	—	1.73%	—	—	—	0.42%	3.13%	3.4%	1.32%
FCF yield	11%	—	—	9.33%	—	12%	11%	9.11%	7.68%	7.63%	3.06%
PEG	—	—	—	—	—	—	—	—	—	—	-0.56

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	97.8%	95.6%	92.1%	83.6%	78%	75.2%	74%	69.8%	67.7%	65%	60.9%
Operating margin	62.6%	55.6%	49.1%	51.3%	42.7%	37%	37.6%	34.2%	36.5%	34.1%	-12.5%
Net margin	26.9%	38.8%	44.8%	10.4%	23.1%	-19.9%	-12.4%	2.12%	18%	20.1%	7.58%
ROE	6.91%	4.61%	8.58%	1.98%	4.06%	-3.35%	-2.54%	0.49%	4.62%	5.51%	2.39%
ROA	3.1%	2.25%	4.19%	1.14%	2.31%	-1.9%	-1.35%	0.26%	2.39%	2.83%	1.9%
ROIC	7.3%	3.53%	4.65%	5.47%	4.4%	3.69%	4.22%	3.71%	4.96%	4.92%	3.01%
Return on tangible assets	3.17%	2.36%	4.36%	1.18%	2.38%	-1.93%	-1.37%	0.26%	2.41%	2.9%	1.2%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	4.66	8.02	3.12	2.41	1.95	4.17	1.66	2.35	0.88	0.56	3.57
Quick ratio	4.66	8.02	3.12	2.41	1.95	4.17	1.66	2.35	0.88	0.56	0.85
Debt / equity	1.19	1.02	1.02	0.71	0.71	0.72	0.83	0.87	0.89	0.9	0.96
Debt / assets	0.53	0.5	0.5	0.41	0.41	0.41	0.44	0.45	0.46	0.46	0.48
Net debt / EBITDA	4.89	8.71	6.57	4.71	5.67	11.8	7.73	5.95	5.56	5.29	6.46
Interest coverage	2.1	2.8	2.92	1.57	2.39	-0.13	0.28	1.14	2.11	2.4	1.58
Effective tax rate	1.47%	0.41%	1.07%	4.7%	0.51%	0%	0%	12.7%	0.79%	1.17%	3.16%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	3.99	3.87	3.5	3.54	2.9	2.6	2.71	2.8	3.01	3.21	3.48
EPS (basic)	0.92	1.4	1.51	0.37	0.67	-0.52	-0.34	0.06	0.54	0.64	0.64
EPS (diluted)	0.92	1.4	1.51	0.37	0.67	-0.52	-0.34	0.06	0.54	0.64	0.26
Book value per share	15.6	32.5	18.3	18.6	16.5	15.4	13.2	12.1	11.7	11.7	10.8
FCF per share	2.69	1.29	2.02	1.99	1.72	1.63	1.37	1.3	1.33	1.44	1.47
Cash per share	0.39	4.91	0.28	0.21	0.29	0.51	0.21	0.18	0.26	0.3	0.96

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Payout ratio	169.9%	115%	116.5%	486%	201.1%	-232.1%	-357.1%	2K%	221.1%	186.2%	461.5%
Dividend yield	7.48%	—	—	8.4%	—	8.86%	9.65%	8.41%	6.93%	6.33%	6.05%

Yield

6.05%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.30

ex-dividend Aug 14, 2026

Payout ratio

462%

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 14, 2026	$0.30
May 15, 2026	$0.30
Feb 13, 2026	$0.30
Nov 17, 2025	$0.30
Aug 15, 2025

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$161.6M	$163.4M	$166.7M	$176.1M	$178M	$182.3M	$183.5M	$189.2M	$190M	$211.9M	$221.8M	$235.9M
YoY change	+14.8%	-0.96%	+3.36%	+9.29%	+10.1%	+11.6%	+10.1%	+7.39%	+6.76%	+16.2%	+20.8%	+24.7%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	25.7M	518.6M	50.2M	39.1M	59.1M	112M	49.3M	41.3M	60.5M	71.5M
Receivables	99M	168.9M	167.2M	150.4M	160.6M	138.1M	147.9M	133.8M	131.8M	111.3M
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	184.5M	822.2M	296.3M	262.7M	285.1M	596M	562.2M	543.3M	198.1M	189.4M
Property, plant & equipment	—	—	—	—	—	—	—	—	—	—
Goodwill & intangibles	52.5M	334.2M	262.2M	203M	165.6M	108.1M	80.3M	61.8M	54.9M	130.6M
Total assets	2.3B	7B	6.7B	6.1B	6B	6B	5.7B	5.4B	5.3B	5.5B
Accounts payable	39.6M	102.5M	94.8M	—	—	—	—	—	—	—
Short-term debt	—	—	—	—	—	—	197M	94.4M	106.6M	217.6M
Total current liabilities	39.6M	102.5M	94.8M	108.8M	146.3M	143M	339.2M	231.4M	224.4M	336.9M
Long-term debt	1.2B	3.5B	3.3B	2.5B	2.4B	2.4B	2.4B	2.4B	2.3B	2.3B
Total liabilities	1.3B	3.6B	3.4B	2.6B	2.6B	2.6B	2.7B	2.6B	2.6B	2.7B
Shareholders' equity	1B	3.4B	3.3B	3.5B	3.4B	3.4B	3.1B	2.8B	2.7B	2.8B
Total debt	1.2B	3.5B	3.3B	2.5B	2.4B	2.4B	2.5B	2.4B	2.4B	2.6B
Net debt	1.2B	3B	3.3B	2.4B	2.4B	2.3B	2.5B	2.4B	2.4B	2.5B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	33.3M	41.3M	59.9M	36.4M	63M	60.5M	22.7M	95.2M	200.6M	71.5M	116.5M	231.6M
Receivables	152.2M	133.8M	148.4M	146.1M	121.5M	131.8M	126.4M	155M	113.2M	111.3M	148.1M	130.1M
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	552.1M	543.3M	577M	188.4M	190.4M	198.1M	155.3M	256.7M	320.7M	189.4M	271.5M	368.4M
Property, plant & equipment	—	—	—	—	—	—	—	—	—	—	—	—
Goodwill & intangibles	32.7M	61.8M	28.3M	27.7M	28.8M	54.9M	24.8M	24.7M	59.8M	130.6M	67.4M	83M
Total assets	5.4B	5.4B	5.4B	5.4B	5.4B	5.3B	5.2B	5.3B	5.6B	5.5B	5.6B	5.5B
Accounts payable	—	—	—	—	—	—	—	—	—	—	—	—
Short-term debt	32.6M	94.4M	146.1M	—	—	106.6M	—	—	—	217.6M	355M	317.5M
Total current liabilities	160.7M	231.4M	258.9M	112.8M	122.8M	224.4M	112.1M	113.1M	124M	336.9M	472.9M	432.4M
Long-term debt	2.4B	2.4B	2.3B	2.5B	2.5B	2.3B	2.4B	2.5B	2.6B	2.3B	2.3B	2.3B
Total liabilities	2.5B	2.6B	2.6B	2.6B	2.6B	2.6B	2.5B	2.6B	2.7B	2.7B	2.8B	2.8B
Shareholders' equity	2.9B	2.8B	2.8B	2.8B	2.7B	2.7B	2.7B	2.7B	2.8B	2.8B	2.8B	2.8B
Total debt	2.4B	2.4B	2.5B	2.5B	2.5B	2.4B	2.4B	2.5B	2.6B	2.6B	2.7B	2.6B
Net debt	2.4B	2.4B	2.4B	2.4B	2.4B	2.4B	2.4B	2.4B	2.4B	2.5B	2.6B	2.4B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	70.2M	158.4M	279.1M	69M	138.4M	-113.3M	-77.6M	13.8M	126.7M	155.5M
Depreciation & amortization	68.5M	113.9M	191.4M	181.5M	176.7M	179M	187.8M	183.1M	169.6M	187M
Stock-based compensation	7.5M	8.4M	7.6M	9.8M	7.9M	7.9M	7.5M	7.9M	9M	11.4M
Change in working capital	1.3M	-94.3M	-18.5M	-23.5M	-2.7M	22.7M	-6.4M	-11.1M	-15.5M	-11.4M
Operating cash flow	130.2M	162.5M	431M	214.7M	321.9M	128.6M	124.3M	193.2M	296M	348.6M
Capital expenditure	—	—	—	—	—	—	—	—	—	—
Investing cash flow	198.9M	94.1M	-351.8M	10.4M	-14.2M	-294.8M	-164.9M	-7.1M	-13.9M	21.1M
Dividends paid	-119.3M	-182.1M	-325.2M	-335.4M	-278.3M	-262.9M	-277.2M	-277.4M	-280.1M	-289.5M
Share repurchases	0	0	-143.8M	0	0	—	-4.8M	-2.7M	—	—
Financing cash flow	-299.6M	232M	-628.8M	-1.2B	-282.2M	30.1M	42.3M	-410.3M	-181.6M	40.8M
Net change in cash	29.5M	488.6M	-549.7M	-970.4M	25.5M	-136.1M	1.8M	-224.3M	100.6M	410.5M
Free cash flow	175.9M	135.8M	360.6M	372.5M	354.9M	356.4M	315.7M	300.6M	310.5M	348.6M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	-15.1M	17.2M	26.3M	24M	29.8M	46.7M	40.3M	65.5M	22.5M	27.1M	40.8M	-25.2M
Depreciation & amortization	43.2M	42.9M	42.9M	41.7M	42.7M	42.3M	43.5M	43.6M	48.5M	51.4M	53.1M	56.4M
Stock-based compensation	2.2M	2.4M	2.5M	1.3M	2.6M	2.5M	2.7M	2.7M	2.9M	3.1M	3.1M	4.1M
Change in working capital	-4.4M	-418K	-6.3M	-2.4M	-4.9M	-1.9M	-2.8M	-4M	-2.3M	-2.3M	-1.5M	-10.4M
Operating cash flow	24.1M	63.2M	69.1M	65.3M	72.4M	89.2M	83M	81M	100M	87.4M	98.4M	85.8M
Capital expenditure	—	—	—	—	—	—	—	—	—	—	—	—
Investing cash flow	10.5M	-6.7M	-289K	-14.9M	3.2M	-3.1M	-807K	10.4M	6.1M	5.4M	2.9M	202.6M
Dividends paid	-69.4M	-69.4M	-69.4M	-69.5M	-70.3M	-71M	-71.4M	-71.4M	-71.9M	-74.8M	-75.7M	-75.7M
Share repurchases	—	—	-2.6M	—	—	—	-5.4M	—	—	—	-8.2M	—
Financing cash flow	-202.8M	-174.2M	-20.2M	-85.4M	-107.7M	-56.9M	-101.2M	-48M	42M	-140.3M	52.1M	-113.3M
Net change in cash	-168.2M	-117.7M	48.6M	-35.1M	-32.1M	29.2M	-19.1M	43.3M	148.1M	-47.5M	153.3M	175.1M
Free cash flow	83.2M	78.7M	52.8M	80.1M	97.7M	80M	80.3M	81M	100M	87.4M	98.4M	85.8M

Sabra Health Care REIT, Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history