CTRE

MKT CAP:$8B

CareTrust REIT, Inc.

Market Cap

$8B

Real Estate·REIT - Healthcare Facilities·🇺🇸 United States·NYSE

Real Estate·REIT·🇺🇸·NYSE

Stock Price

$37.87+$1.56 (+4.30%)

Apr 22, 2026

Company Details

CareTrust REIT, Inc. is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing, seniors housing and other healthcare-related properties. With a nat...

CEO

David Sedgwick

IPO Date

May 29, 2014

Website

www.caretrustreit.com

Key Metrics TTM

Revenue

$277M

+39.5% YoY

Net Income

$189M

EPS (Diluted)

$1.07

Free Cash Flow

$282M

Revenue / Share

$1.31

Gross Margin

95.0%

Operating Margin

54.3%

Net Margin

68.3%

FCF Margin

101.7%

P/S

30.6x

P/E

44.8x

Earnings Reports

Q4 2025

May 7, 2026

PENDING

FY 2025

Feb 12, 2026

$477MEPS $1.57

Q3 2025

Nov 5, 2025

$104M+82.4%EPS $0.35

Q4 2024

Feb 12, 2025

$62M+16.3%EPS $0.29

Q3 2024

Oct 29, 2024

$57M+11.6%EPS $0.21

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 21	$45M	$45M	$26M
Q2 21	$48M	$47M	$27M
Q3 21	$48M	$47M	$28M
Q4 21	$49M	$48M	$23M
Q1 22	$46M	$44M	$22M
Q2 22	$47M	$45M	$28M
Q3 22	$47M	$43M	$25M
Q4 22	$48M	$46M	$29M
Q1 23	$46M	$44M	$27M
Q2 23	$48M	$46M	$28M
Q3 23	$51M	$48M	$29M
Q4 23	$53M	$51M	$31M
Q1 24	$54M	$51M	$31M
Q3 24	$57M	$52M	$31M
Q4 24	$62M	$59M	$29M
Q3 25	$104M	$102M	$60M

Valuation

Quarter	P/S	P/E
Q1 21	47.6x	103.3x
Q2 21	46.4x	100.4x
Q3 21	45.8x	113.3x
Q4 21	44.5x	117.7x
Q1 22	44.4x	1029.1x
Q2 22	44.6x	1117.1x
Q3 22	44.8x	—
Q4 22	45.2x	—
Q1 23	45.1x	154.1x
Q2 23	44.9x	250.4x
Q3 23	43.9x	202.6x
Q4 23	42.7x	157.7x
Q1 24	41.1x	133.9x
Q3 24	39.3x	87.2x
Q4 24	37.4x	60.2x
Q3 25	30.6x	44.8x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 21	$34M	$33M
Q2 21	$37M	$34M
Q3 21	$48M	$46M
Q4 21	$39M	$37M
Q1 22	$35M	$33M
Q2 22	$34M	$32M
Q3 22	$42M	$41M
Q4 22	$34M	$32M
Q1 23	$35M	$33M
Q2 23	$32M	$28M
Q3 23	$45M	$42M
Q4 23	$43M	$41M
Q1 24	$49M	$48M
Q3 24	$67M	$64M
Q4 24	$75M	$71M
Q3 25	$101M	$98M

Capital Expenditures

Quarter	CapEx
Q1 21	$1M
Q2 21	$2M
Q3 21	$1M
Q4 21	$1M
Q1 22	$2M
Q2 22	$2M
Q3 22	$2M
Q4 22	$2M
Q1 23	$2M
Q2 23	$4M
Q3 23	$3M
Q4 23	$2M
Q1 24	$398.0K
Q3 24	$3M
Q4 24	$4M
Q3 25	$3M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 21	+5.0%	+5.8%
Q2 21	+10.7%	+5.3%
Q3 21	+5.3%	+8.3%
Q4 21	+12.1%	+47.8%
Q1 22	+1.7%	+26.9%
Q2 22	-2.0%	-7.5%
Q3 22	-2.2%	+8.7%
Q4 22	-2.9%	-29.0%
Q1 23	+0.3%	-21.9%
Q2 23	+2.0%	+3.2%
Q3 23	+8.9%	+0.2%
Q4 23	+12.2%	+19.6%
Q1 24	+15.9%	+18.8%
Q3 24	+19.7%	+34.8%
Q4 24	+21.4%	+50.1%
Q3 25	+95.0%	+103.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 21	$2M	3.5%
Q2 21	$2M	3.8%
Q3 21	$2M	3.7%
Q4 21	$6M	11.5%
Q1 22	$2M	3.3%
Q2 22	$1M	3.0%
Q3 22	$1M	2.9%
Q4 22	$1M	3.1%
Q1 23	$936.0K	2.0%
Q2 23	$924.0K	1.9%
Q3 23	$2M	3.0%
Q4 23	$2M	3.3%
Q1 24	$2M	4.0%
Q3 24	$1M	2.0%
Q4 24	$1M	2.3%
Q3 25	$2M	2.4%

OpEx Breakdown

Quarter	G&A
Q1 21	$5M
Q2 21	$6M
Q3 21	$5M
Q4 21	$11M
Q1 22	$5M
Q2 22	$5M
Q3 22	$5M
Q4 22	$5M
Q1 23	$5M
Q2 23	$5M
Q3 23	$6M
Q4 23	$6M
Q1 24	$7M
Q3 24	$6M
Q4 24	$9M
Q3 25	$15M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$27M	$0	$27M
Q2 22	$30M	$0	$30M
Q3 22	$5M	$0	$5M
Q4 22	$13M	$0	$13M
Q1 23	$28M	$0	$28M
Q2 23	$1M	$0	$1M
Q3 23	$3M	$0	$3M
Q4 23	$294M	$0	$294M
Q1 24	$451M	$0	$451M
Q2 24	$495M	$0	$495M
Q3 24	$377M	$0	$377M
Q4 24	$214M	$0	$214M
Q1 25	$27M	$0	$27M
Q2 25	$306M	$0	$306M
Q3 25	$712M	$0	$712M
Q4 25	$198M	$0	$198M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 21	95M	+0.2%	+0.2%
Q2 21	96M	+0.8%	+1.0%
Q3 21	96M	+0.2%	+1.1%
Q4 21	97M	+0.3%	+1.4%
Q1 22	96M	-0.1%	+1.1%
Q2 22	97M	+0.2%	+0.5%
Q3 22	97M	+0.0%	+0.3%
Q4 22	97M	+0.7%	+0.7%
Q1 23	99M	+1.9%	+2.8%
Q2 23	99M	+0.0%	+2.6%
Q3 23	104M	+5.2%	+8.0%
Q4 23	106M	+1.8%	+9.1%
Q1 24	133M	+25.5%	+34.4%
Q3 24	160M	+20.0%	+61.3%
Q4 24	182M	+13.9%	+74.5%
Q3 25	212M	+16.6%	+100.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 21	$3M	15
Q2 21	$3M	15
Q3 21	$3M	15
Q4 21	$3M	16
Q1 22	$3M	16
Q2 22	$3M	16
Q3 22	$3M	16
Q4 22	$3M	15
Q1 23	$3M	15
Q2 23	$3M	15
Q3 23	$3M	15
Q4 23	$3M	17
Q1 24	$3M	17
Q3 24	$3M	17
Q4 24	$3M	21
Q3 25	$5M	21

Revenue / Employee