NYSE : CTRE
CareTrust REIT, Inc. — Financial statements
Real Estate · REIT - Healthcare Facilities · United States
Last price 36.39 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 8.60B
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Rental Revenue | 442.92M | 368.19M | 228.26M | 198.60M | 187.51M | 190.19M |
| Other Revenue | 9.72M | 1.23M | ||||
| Total Revenue | 571.43M | 476.39M | 296.29M | 217.77M | 196.13M | 192.35M |
| Property Expenses | 16.10M | 9.58M | 13.55M | 9.59M | 9.37M | 3.57M |
| Selling, General & Administrative | 61.01M | 52.47M | 28.92M | 21.80M | 20.16M | 26.87M |
| Depreciation & Amortization | 113.63M | 92.89M | 56.83M | 51.20M | 50.32M | 55.34M |
| Provision for Loan Losses | -4.67M | -4.90M | -3.84M | |||
| Total Operating Expenses | 195.41M | 154.94M | 104.21M | 82.60M | 83.70M | 85.79M |
| Operating Income | 376.03M | 321.45M | 192.08M | 135.17M | 112.44M | 106.56M |
| Interest Expense | -50.57M | -43.71M | -30.31M | -40.88M | -30.01M | -23.68M |
| Currency Exchange Gain (Loss) | -269.00K | 4.01M | ||||
| Other Non-Operating Income | 6.24M | 4.35M | -1.33M | |||
| EBT Excluding Unusual Items | 331.43M | 286.11M | 160.44M | 94.29M | 82.43M | 82.89M |
| Merger & Restructuring Charges | -6.83M | -5.33M | ||||
| Gain (Loss) on Sale of Assets | 27.67M | 31.55M | -2.21M | 2.22M | -3.77M | -77.00K |
| Asset Writedown | 11.82M | 13.35M | -33.18M | -42.79M | -86.16M | |
| Other Unusual Items | -390.00K | -390.00K | -657.00K | -10.83M | ||
| Pretax Income | 363.71M | 325.29M | 124.40M | 53.72M | -7.51M | 71.98M |
| Income Tax Expense | 8.78M | 5.00M | ||||
| Earnings From Continuing Operations | 354.93M | 320.29M | 124.40M | 53.72M | -7.51M | 71.98M |
| Minority Interest in Earnings | 465.00K | 252.00K | 681.00K | 13.00K | ||
| Net Income | 355.40M | 320.54M | 125.08M | 53.73M | -7.51M | 71.98M |
| Preferred Dividends & Other Adjustments | -167.00K | 440.00K | 507.00K | |||
| Net Income to Common | 355.56M | 320.54M | 125.08M | 53.73M | -7.95M | 71.47M |
| Basic Shares Outstanding | 222.94M | 203.64M | 154.79M | 105.96M | 96.70M | 96.02M |
| Diluted Shares Outstanding | 223.59M | 204.09M | 155.17M | 106.15M | 96.70M | 96.09M |
| EPS (Basic) | 1.59 | 1.57 | 0.81 | 0.51 | -0.08 | 0.74 |
| EPS (Diluted) | 1.59 | 1.57 | 0.80 | 0.50 | -0.08 | 0.74 |
| Dividend Per Share | 1.45 | 1.34 | 1.16 | 1.12 | 1.10 | 1.06 |
| Operating Margin | 65.80% | 67.48% | 64.83% | 62.07% | 57.33% | 55.40% |
| Profit Margin | 62.22% | 67.28% | 42.22% | 24.68% | -4.05% | 37.16% |
| EBITDA | 484.88M | 407.70M | 246.13M | 186.05M | 162.81M | 161.96M |
| EBITDA Margin | 84.85% | 85.58% | 83.07% | 85.43% | 83.01% | 84.20% |
| D&A For Ebitda | 108.86M | 86.25M | 54.05M | 50.87M | 50.38M | 55.39M |
| EBIT | 376.03M | 321.45M | 192.08M | 135.17M | 112.44M | 106.56M |
| EBIT Margin | 65.80% | 67.48% | 64.83% | 62.07% | 57.33% | 55.40% |
| Effective Tax Rate | 2.41% | 1.54% | ||||
| Revenue as Reported | 571.43M | 476.39M | 296.29M | 217.77M | 196.13M | 192.35M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Property, Plant & Equipment | 4.06B | 3.74B | 2.23B | 1.57B | 1.42B | 1.59B |
| Cash & Equivalents | 47.59M | 198.04M | 213.82M | 294.45M | 13.18M | 19.89M |
| Accounts Receivable | 574.12M | 102.56M | 97.18M | 395.00K | 416.00K | 2.42M |
| Investment In Debt and Equity Securities | 1.16B | 922.49M | 810.22M | 195.43M | 163.87M | 15.15M |
| Other Current Assets | 73.55M | 177.20M | 77.85M | 23.29M | 16.48M | 12.35M |
| Deferred Long-Term Charges | 7.18M | 8.57M | 11.20M | 4.16M | 5.43M | 1.06M |
| Total Assets | 5.93B | 5.15B | 3.44B | 2.08B | 1.62B | 1.64B |
| Long-Term Debt | 1.21B | 894.22M | 396.93M | 595.60M | 719.50M | 673.40M |
| Accounts Payable | 118.67M | 120.44M | 56.32M | 33.99M | 24.36M | 25.41M |
| Other Current Liabilities | 92.25M | 74.81M | 54.39M | 36.53M | 27.55M | 26.29M |
| Total Liabilities | 1.42B | 1.09B | 507.63M | 666.12M | 771.41M | 725.09M |
| Common Stock | 2.36M | 2.23M | 1.87M | 1.30M | 990.00K | 963.00K |
| Additional Paid-In Capital | 5.00B | 4.52B | 3.44B | 1.88B | 1.25B | 1.20B |
| Distributions in Excess of Earnings | -503.20M | -491.80M | -532.57M | -467.63M | -396.95M | -282.05M |
| Comprehensive Income & Other | -4.00M | 5.87M | ||||
| Total Common Equity | 4.49B | 4.04B | 2.91B | 1.42B | 849.37M | 915.76M |
| Minority Interest | 21.86M | 23.69M | 20.97M | 1.90M | ||
| Shareholders' Equity | 4.51B | 4.06B | 2.93B | 1.42B | 849.37M | 915.76M |
| Total Liabilities & Equity | 5.93B | 5.15B | 3.44B | 2.08B | 1.62B | 1.64B |
| Total Debt | 1.21B | 894.22M | 396.93M | 595.60M | 719.50M | 673.40M |
| Net Cash (Debt) | -1.16B | -696.18M | -183.10M | -301.15M | -706.32M | -653.50M |
| Net Cash Per Share | -5.18 | -3.41 | -1.18 | -2.84 | -7.30 | -6.80 |
| Filing Date Shares Outstanding | 236.29M | 223.40M | 187.66M | 130.50M | 99.51M | 96.30M |
| Total Common Shares Outstanding | 236.05M | 222.75M | 186.99M | 129.99M | 99.01M | 96.30M |
| Book Value Per Share | 19.03 | 18.12 | 15.55 | 10.90 | 8.58 | 9.51 |
| Tangible Book Value | 4.49B | 4.04B | 2.91B | 1.42B | 849.37M | 915.76M |
| Tangible Book Value Per Share | 19.03 | 18.12 | 15.55 | 10.90 | 8.58 | 9.51 |
| Land | 670.54M | 632.47M | 367.04M | 279.28M | 238.74M | 251.79M |
| Buildings | 3.82B | 3.46B | 2.22B | 1.62B | 1.48B | 1.62B |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 355.40M | 320.54M | 125.08M | 53.73M | -7.51M | 71.98M |
| Depreciation & Amortization | 108.86M | 86.25M | 54.05M | 50.87M | 50.38M | 55.39M |
| Other Amortization | 4.48M | 4.14M | 2.82M | 2.44M | 2.10M | 2.05M |
| Gain (Loss) on Sale of Assets | -27.67M | -31.55M | 2.21M | -2.22M | 3.77M | 77.00K |
| Asset Writedown | -11.82M | -13.35M | 33.18M | 42.79M | 86.16M | |
| Stock-Based Compensation | 11.43M | 11.90M | 6.13M | 5.15M | 5.76M | 10.83M |
| Change in Accounts Receivable | -1.41M | -187.00K | -808.00K | -9.00K | 604.00K | -562.00K |
| Change in Accounts Payable | 28.25M | 28.03M | 24.05M | 2.42M | -1.05M | 6.06M |
| Change in Other Net Operating Assets | -5.46M | -1.77M | -3.72M | -21.00K | 123.00K | 399.00K |
| Other Operating Activities | -19.74M | -9.97M | -3.63M | -391.00K | 235.00K | 10.64M |
| Operating Cash Flow | 446.99M | 394.03M | 244.25M | 154.77M | 144.41M | 156.87M |
| Acquisition of Real Estate Assets | -800.35M | -1.35B | -820.06M | -244.75M | -29.21M | -198.73M |
| Sale of Real Estate Assets | 34.89M | 79.29M | 13.94M | 16.31M | 45.15M | 6.96M |
| Net Sale / Acq. of Real Estate Assets | -765.46M | -1.27B | -806.12M | -228.44M | 15.94M | -191.77M |
| Investment in Marketable & Equity Securities | -30.00M | -52.00M | -1.78M | |||
| Other Investing Activities | -145.14M | -144.25M | -5.17M | -3.80M | ||
| Investing Cash Flow | -1.63B | -1.46B | -1.51B | -267.81M | -127.40M | -192.63M |
| Short-Term Debt Issued | 75.00M | |||||
| Long-Term Debt Issued | 1.15B | 185.00M | 160.00M | 620.00M | ||
| Total Debt Issued | 785.00M | 1.15B | 75.00M | 185.00M | 160.00M | 620.00M |
| Short-Term Debt Repaid | -75.00M | |||||
| Long-Term Debt Repaid | -906.18M | -200.00M | -310.00M | -115.00M | -490.00M | |
| Total Debt Repaid | -731.18M | -906.18M | -275.00M | -310.00M | -115.00M | -490.00M |
| Net Debt Issued (Repaid) | 53.82M | 243.82M | -200.00M | -125.00M | 45.00M | 130.00M |
| Issuance of Common Stock | 1.19B | 1.07B | 1.55B | 634.45M | 47.24M | 22.95M |
| Repurchase of Common Stock | -10.49M | -3.33M | -2.48M | -1.48M | -4.47M | -1.33M |
| Common Dividends Paid | -305.16M | -259.35M | -172.16M | -115.49M | -106.14M | -100.78M |
| Other Financing Activities | -5.37M | -1.63M | 10.56M | 1.84M | -5.36M | -14.10M |
| Foreign Exchange Rate Adjustments | -387.00K | 515.00K | ||||
| Net Cash Flow | -256.78M | -15.78M | -80.63M | 281.27M | -6.72M | 976.00K |
| Levered Free Cash Flow | -80.31M | 240.69M | 44.88M | 118.24M | 100.55M | 126.67M |
| Unlevered Free Cash Flow | -53.19M | 263.87M | 61.01M | 141.36M | 117.21M | 139.42M |
| Cash Interest Paid | 47.09M | 39.86M | 27.93M | 40.03M | 25.91M | 22.84M |
| Change in Working Capital | 21.38M | 26.07M | 19.52M | 2.39M | -322.00K | 5.89M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 8.60B | 8.05B | 5.07B | 2.67B | 1.79B | 2.20B |
| Enterprise Value | 9.76B | 8.26B | 5.09B | 3.26B | 2.56B | 2.86B |
| Last Close Price | 36.39 | 35.06 | 25.16 | 19.92 | 15.65 | 18.12 |
| PE Ratio | 22.82 | 25.13 | 40.51 | 49.61 | 30.76 | |
| PS Ratio | 15.05 | 16.91 | 17.10 | 12.24 | 9.15 | 11.43 |
| PB Ratio | 1.91 | 1.98 | 1.73 | 1.88 | 2.11 | 2.40 |
| P/OCF Ratio | 19.24 | 20.44 | 20.75 | 17.22 | 12.43 | 14.01 |
| EV/Sales Ratio | 17.07 | 17.34 | 17.18 | 14.96 | 13.07 | 14.86 |
| EV/EBITDA Ratio | 20.12 | 20.26 | 20.68 | 17.52 | 15.75 | 17.64 |
| EV/EBIT Ratio | 25.95 | 25.69 | 26.50 | 24.11 | 22.81 | 26.82 |
| Debt / Equity Ratio | 0.27 | 0.22 | 0.14 | 0.42 | 0.85 | 0.73 |
| Debt / EBITDA Ratio | 2.49 | 2.19 | 1.61 | 3.20 | 4.42 | 4.16 |
| Net Debt / Equity Ratio | 0.26 | 0.17 | 0.06 | 0.21 | 0.83 | 0.71 |
| Net Debt / EBITDA Ratio | 2.39 | 1.71 | 0.74 | 1.62 | 4.34 | 4.04 |
| Asset Turnover | 0.11 | 0.11 | 0.11 | 0.12 | 0.12 | 0.12 |
| Quick Ratio | 2.95 | 1.54 | 2.81 | 4.18 | 0.26 | 0.43 |
| Current Ratio | 3.30 | 2.45 | 3.51 | 4.51 | 0.58 | 0.67 |
| Return on Equity (ROE) | 9.06% | 9.17% | 5.72% | 4.74% | -0.85% | 7.87% |
| Return on Assets (ROA) | 4.44% | 4.68% | 4.35% | 4.56% | 4.31% | 4.24% |
| Return on Invested Capital (ROIC) | 6.82% | 7.65% | 7.19% | 7.54% | 7.12% | 6.99% |
| Earnings Yield | 4.38% | 3.98% | 2.47% | 2.02% | -0.42% | 3.27% |
| Dividend Yield | 4.29% | 3.71% | 4.28% | 5.46% | 6.07% | 4.64% |
| Payout Ratio | 94.36% | 80.91% | 137.64% | 214.93% | 140.01% | |
| Buyback Yield / Dilution | -23.79% | -31.53% | -46.17% | -9.77% | -0.64% | -0.93% |
| Total Shareholder Return | -19.51% | -27.82% | -41.89% | -4.31% | 5.43% | 3.71% |