NASDAQ : SBRA
Sabra Health Care REIT, Inc. — Financial statements
Real Estate · REIT - Healthcare Facilities · United States
Last price 19.74 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 5.04B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Rental Revenue | 374.63M | 374.13M | 381.50M | 376.27M | 400.59M | 396.72M |
| Other Revenue | 452.95M | 360.81M | 284.18M | 233.26M | 96.31M | -25.80M |
| Total Revenue | 863.77M | 775.76M | 702.64M | 644.62M | 531.95M | 388.24M |
| Property Expenses | 327.99M | 271.11M | 227.09M | 195.25M | 162.61M | 141.20M |
| Selling, General & Administrative | 60.15M | 53.71M | 50.07M | 47.47M | 39.57M | 34.67M |
| Depreciation & Amortization | 209.43M | 187.00M | 169.62M | 183.09M | 187.78M | 178.99M |
| Provision for Loan Losses | -101.58M | 1.05M | 571.00K | -191.00K | -141.00K | -3.94M |
| Total Operating Expenses | 699.14M | 510.76M | 446.21M | 426.00M | 390.11M | 358.80M |
| Operating Income | 164.63M | 265.00M | 256.43M | 218.62M | 141.84M | 29.44M |
| Interest Expense | -116.03M | -112.49M | -114.77M | -112.96M | -105.47M | -98.63M |
| Other Non-Operating Income | -249.00K | -3.66M | 35.00K | 2.60M | -1.10M | 373.00K |
| EBT Excluding Unusual Items | 48.35M | 148.84M | 141.69M | 108.26M | 35.27M | -68.82M |
| Gain (Loss) on Sale of Investments | -7.67M | -10.77M | ||||
| Gain (Loss) on Sale of Assets | 24.22M | -3.52M | 2.10M | -76.62M | -12.01M | 12.30M |
| Total Insurance Settlements | 700.00K | 1.70M | 2.20M | |||
| Asset Writedown | -3.66M | -7.32M | -18.47M | -14.33M | -94.04M | -9.50M |
| Other Unusual Items | -2.25M | 17.65M | 200.00K | -1.54M | 2.09M | -34.62M |
| Pretax Income | 67.36M | 157.35M | 127.72M | 15.76M | -76.36M | -111.41M |
| Income Tax Expense | 2.13M | 1.84M | 1.00M | 2.00M | 1.24M | 1.84M |
| Earnings From Continuing Operations | 65.23M | 155.51M | 126.71M | 13.76M | -77.61M | -113.26M |
| Minority Interest in Earnings | 212.00K | 99.00K | ||||
| Net Income | 65.44M | 155.61M | 126.71M | 13.76M | -77.61M | -113.26M |
| Net Income to Common | 65.44M | 155.61M | 126.71M | 13.76M | -77.61M | -113.26M |
| Basic Shares Outstanding | 248.45M | 241.31M | 233.50M | 231.20M | 230.95M | 219.07M |
| Diluted Shares Outstanding | 252.02M | 244.50M | 236.05M | 232.79M | 230.95M | 219.07M |
| EPS (Basic) | 0.26 | 0.64 | 0.54 | 0.06 | -0.34 | -0.52 |
| EPS (Diluted) | 0.26 | 0.64 | 0.54 | 0.06 | -0.34 | -0.52 |
| Dividend Per Share | 1.20 | 1.20 | 1.20 | 1.20 | 1.20 | 1.20 |
| Operating Margin | 19.06% | 34.16% | 36.49% | 33.91% | 26.66% | 7.58% |
| Profit Margin | 7.58% | 20.06% | 18.03% | 2.13% | -14.59% | -29.17% |
| EBITDA | 369.17M | 447.11M | 421.19M | 395.89M | 323.00M | 221.94M |
| EBITDA Margin | 42.74% | 57.64% | 59.94% | 61.41% | 60.72% | 57.17% |
| D&A For Ebitda | 204.55M | 182.12M | 164.76M | 177.27M | 181.16M | 192.50M |
| EBIT | 164.63M | 265.00M | 256.43M | 218.62M | 141.84M | 29.44M |
| EBIT Margin | 19.06% | 34.16% | 36.49% | 33.91% | 26.66% | 7.58% |
| Funds From Operations (FFO) | 260.26M | 360.87M | 321.61M | 296.50M | 295.88M | 253.22M |
| FFO Per Share | 1.03 | 1.48 | 1.36 | 1.27 | 1.28 | 1.15 |
| Adjusted Funds From Operations (AFFO) | 383.82M | 361.57M | 338.19M | 311.33M | 333.02M | 297.14M |
| AFFO Per Share | 1.52 | 1.47 | 1.43 | 1.33 | 1.43 | 1.35 |
| FFO Payout Ratio | 114.52% | 80.22% | 87.11% | 93.57% | 93.67% | 103.83% |
| Effective Tax Rate | 3.16% | 1.17% | 0.79% | 12.71% | ||
| Revenue as Reported | 859.56M | 774.63M | 703.24M | 647.51M | 624.81M | 569.54M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Property, Plant & Equipment | 4.84B | 4.69B | 4.52B | 4.63B | 4.97B | 5.16B |
| Cash & Equivalents | 231.58M | 71.54M | 60.47M | 41.28M | 49.31M | 112.00M |
| Accounts Receivable | 109.07M | 101.41M | 104.38M | 103.29M | 117.93M | |
| Investment In Debt and Equity Securities | 67.22M | 65.35M | 61.12M | 57.85M | 51.07M | 57.05M |
| Other Intangible Assets | 82.95M | 65.32M | 27.46M | 30.90M | 40.13M | 54.06M |
| Loans Receivable Current | 28.85M | 33.15M | 45.87M | 43.77M | 41.33M | 33.03M |
| Restricted Cash | 6.76M | 6.60M | 5.87M | 5.43M | 4.62M | 3.89M |
| Trading Asset Securities | 14.72M | 3.38M | 20.38M | 18.92M | 21.48M | 3.33M |
| Other Long-Term Assets | 113.89M | 118.17M | 121.80M | 136.84M | 134.96M | 231.46M |
| Total Assets | 5.51B | 5.49B | 5.30B | 5.39B | 5.75B | 5.97B |
| Current Portion of Long-Term Debt | 1.08M | 3.43M | ||||
| Current Portion of Leases | 518.00K | 1.03M | ||||
| Long-Term Debt | 2.63B | 2.53B | 2.42B | 2.41B | 2.31B | 2.40B |
| Long-Term Leases | 6.64M | 6.35M | 8.30M | 12.50M | 9.20M | |
| Accounts Payable | 72.80M | 73.17M | 67.80M | 73.78M | 83.96M | 69.16M |
| Accrued Expenses | 9.30M | 9.60M | 16.10M | 16.50M | 18.20M | 21.50M |
| Other Current Liabilities | 25.70M | 32.46M | 25.70M | 34.20M | 30.90M | 48.60M |
| Other Long-Term Liabilities | 19.05M | 16.82M | 26.85M | 32.53M | 42.24M | 49.71M |
| Total Liabilities | 2.76B | 2.67B | 2.56B | 2.58B | 2.69B | 2.59B |
| Common Stock | 2.56M | 2.52M | 2.38M | 2.31M | 2.31M | 2.30M |
| Additional Paid-In Capital | 4.89B | 4.84B | 4.59B | 4.49B | 4.49B | 4.48B |
| Distributions in Excess of Earnings | -2.15B | -2.01B | -1.87B | -1.72B | -1.45B | -1.10B |
| Comprehensive Income & Other | 6.10M | -3.57M | 20.94M | 23.75M | 19.06M | -10.02M |
| Total Common Equity | 2.75B | 2.82B | 2.74B | 2.80B | 3.06B | 3.38B |
| Minority Interest | 1.72M | 1.95M | ||||
| Shareholders' Equity | 2.75B | 2.82B | 2.74B | 2.80B | 3.06B | 3.38B |
| Total Liabilities & Equity | 5.51B | 5.49B | 5.30B | 5.39B | 5.75B | 5.97B |
| Total Debt | 2.63B | 2.54B | 2.43B | 2.43B | 2.52B | 2.40B |
| Net Cash (Debt) | -2.39B | -2.46B | -2.35B | -2.37B | -2.45B | -2.28B |
| Net Cash Per Share | -9.47 | -10.07 | -9.93 | -10.17 | -10.59 | -10.42 |
| Filing Date Shares Outstanding | 255.46M | 252.15M | 237.91M | 231.48M | 231.16M | 230.90M |
| Total Common Shares Outstanding | 255.46M | 251.70M | 237.59M | 231.27M | 231.01M | 230.40M |
| Book Value Per Share | 10.77 | 11.21 | 11.54 | 12.12 | 13.23 | 14.67 |
| Tangible Book Value | 2.67B | 2.76B | 2.71B | 2.77B | 3.02B | 3.33B |
| Tangible Book Value Per Share | 10.44 | 10.95 | 11.42 | 11.98 | 13.06 | 14.43 |
| Land | 604.20M | 579.59M | 543.53M | 546.60M | 568.49M | 581.85M |
| Buildings | 5.29B | 5.12B | 4.85B | 4.84B | 5.03B | 5.15B |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 65.44M | 155.61M | 126.71M | 13.76M | -77.61M | -113.26M |
| Depreciation & Amortization | 204.55M | 182.12M | 164.76M | 177.27M | 181.16M | 192.50M |
| Gain (Loss) on Sale of Assets | -24.22M | 3.52M | -2.10M | 76.62M | 12.01M | -12.30M |
| Gain (Loss) on Sale of Investments | 57.78M | 164.13M | ||||
| Asset Writedown | 3.66M | 7.32M | 18.47M | 14.33M | 94.04M | 9.50M |
| Stock-Based Compensation | 13.13M | 11.36M | 8.99M | 7.92M | 7.45M | 7.91M |
| Income (Loss) on Equity Investments | 997.00K | 3.88M | 5.84M | 6.37M | 40.25M | 27.95M |
| Change in Accounts Receivable | -16.50M | -11.45M | -15.46M | -11.08M | -6.44M | 8.22M |
| Change in Accounts Payable | 7.81M | 1.60M | -7.09M | 8.34M | -13.25M | 14.48M |
| Other Operating Activities | 15.13M | -4.30M | 10.98M | 6.85M | 20.19M | 53.31M |
| Operating Cash Flow | 371.57M | 348.61M | 310.54M | 300.57M | 315.73M | 356.39M |
| Acquisition of Real Estate Assets | -737.44M | -494.45M | -191.14M | -163.38M | -146.68M | -142.10M |
| Sale of Real Estate Assets | 178.66M | 88.64M | 96.00M | 247.62M | 95.30M | 100.72M |
| Net Sale / Acq. of Real Estate Assets | -558.77M | -405.82M | -95.14M | 84.24M | -51.37M | -41.38M |
| Investment in Marketable & Equity Securities | 9.60M | 8.04M | 1.85M | -10.25M | -145.56M | -7.77M |
| Other Investing Activities | 287.00K | 6.05M | 2.38M | 5.80M | -780.00K | |
| Investing Cash Flow | -334.97M | -377.96M | -109.00M | 103.13M | -216.25M | -336.20M |
| Long-Term Debt Issued | 609.80M | 14.60M | 12.19M | 204.05M | 791.52M | |
| Long-Term Debt Repaid | -502.09M | -2.03M | -106.32M | -81.27M | -767.66M | |
| Net Debt Issued (Repaid) | 153.34M | 107.72M | 12.56M | -94.13M | 122.78M | 23.86M |
| Issuance of Common Stock | 251.28M | 227.78M | 86.12M | 308.71M | ||
| Common Dividends Paid | -298.06M | -289.50M | -280.15M | -277.45M | -277.16M | -262.92M |
| Total Dividends Paid | -298.06M | -289.50M | -280.15M | -277.45M | -277.16M | -262.92M |
| Other Financing Activities | -6.55M | -5.24M | -94.00K | -38.72M | -7.33M | -39.51M |
| Foreign Exchange Rate Adjustments | 75.00K | 391.00K | -359.00K | -614.00K | 268.00K | 29.00K |
| Net Cash Flow | 136.69M | 11.80M | 19.62M | -7.21M | -61.95M | 50.36M |
| Levered Free Cash Flow | 155.12M | 309.78M | 244.17M | 254.32M | 78.48M | 344.75M |
| Unlevered Free Cash Flow | 227.64M | 380.09M | 315.91M | 324.93M | 144.40M | 406.39M |
| Cash Interest Paid | 114.98M | 110.96M | 105.20M | 102.41M | 97.72M | 85.46M |
| Cash Income Tax Paid | 1.50M | 1.50M | 1.39M | 1.67M | 1.66M | 1.84M |
| Change in Working Capital | -8.70M | -9.85M | -22.55M | -2.73M | -19.69M | 22.70M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 5.04B | 4.72B | 4.10B | 3.30B | 2.87B | 3.10B |
| Enterprise Value | 7.43B | 7.12B | 6.50B | 5.58B | 5.27B | 5.26B |
| Last Close Price | 19.74 | 18.12 | 15.49 | 11.80 | 9.35 | 9.31 |
| Price/FFO Ratio | 18.61 | 12.24 | 11.39 | 9.29 | 7.30 | 8.10 |
| Price/AFFO Ratio | 12.64 | 12.33 | 10.83 | 8.87 | 6.54 | 6.90 |
| PE Ratio | 75.48 | 30.35 | 32.34 | 239.86 | ||
| PS Ratio | 5.84 | 6.09 | 5.83 | 5.12 | 5.40 | 7.97 |
| PB Ratio | 1.83 | 1.67 | 1.50 | 1.18 | 0.94 | 0.92 |
| P/OCF Ratio | 13.57 | 13.55 | 13.20 | 10.98 | 9.09 | 8.69 |
| EV/Sales Ratio | 8.60 | 9.18 | 9.26 | 8.65 | 9.90 | 13.55 |
| EV/EBITDA Ratio | 20.13 | 15.93 | 15.44 | 14.09 | 16.31 | 23.70 |
| EV/EBIT Ratio | 45.13 | 26.87 | 25.36 | 25.51 | 37.15 | 178.65 |
| Debt / Equity Ratio | 0.96 | 0.90 | 0.89 | 0.87 | 0.82 | 0.71 |
| Debt / EBITDA Ratio | 7.11 | 5.66 | 5.74 | 6.11 | 7.76 | 10.81 |
| Net Debt / Equity Ratio | 0.87 | 0.87 | 0.85 | 0.84 | 0.80 | 0.68 |
| Net Debt / EBITDA Ratio | 6.47 | 5.51 | 5.57 | 5.98 | 7.57 | 10.29 |
| Asset Turnover | 0.16 | 0.14 | 0.13 | 0.12 | 0.09 | 0.07 |
| Quick Ratio | 3.25 | 1.47 | 1.69 | 1.31 | 0.57 | 0.83 |
| Current Ratio | 3.57 | 1.80 | 2.16 | 1.71 | 0.71 | 1.09 |
| Return on Equity (ROE) | 2.39% | 5.59% | 4.57% | 0.47% | -2.41% | -3.34% |
| Return on Assets (ROA) | 1.90% | 3.07% | 3.00% | 2.45% | 1.51% | 0.31% |
| Return on Invested Capital (ROIC) | 2.94% | 4.98% | 4.89% | 3.53% | 2.50% | 0.51% |
| Earnings Yield | 1.32% | 3.29% | 3.09% | 0.42% | -2.70% | -3.66% |
| Dividend Yield | 6.08% | 6.40% | 6.96% | 8.41% | 9.65% | 8.93% |
| Payout Ratio | 458.84% | 186.04% | 221.09% | 2,016.92% | ||
| Buyback Yield / Dilution | -5.18% | -3.58% | -1.40% | -0.80% | -5.42% | -5.70% |
| Total Shareholder Return | 0.90% | 2.81% | 5.56% | 7.61% | 4.23% | 3.23% |