SBRA

MKT CAP:$5B

Sabra Health Care REIT, Inc.

Market Cap

$5B

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

Real Estate·REIT·🇺🇸·NASDAQ

Stock Price

$19.57+$0.42 (+2.19%)

Apr 22, 2026

Company Details

As of March 31, 2022, Sabra's investment portfolio included 416 real estate properties held for investment. This consists of (i) 279 Skilled Nursing/Transitional Care facilities, (ii) 59 Senior Housing communities (Senior Housing - Leased),...

CEO

Richard K. Matros

IPO Date

Apr 2, 2002

Website

www.sabrahealth.com

Key Metrics TTM

Revenue

$775M

+10.2% YoY

Net Income

$156M

EPS (Diluted)

$0.64

Free Cash Flow

$349M

Revenue / Share

$3.06

Gross Margin

65.0%

Operating Margin

34.0%

Net Margin

20.1%

FCF Margin

45.0%

P/S

6.6x

P/E

32.7x

Earnings Reports

Q1 2026

May 4, 2026

PENDING

FY 2025

Feb 12, 2026

$775M+10.2%EPS $0.64

Q4 2025

Feb 12, 2026

$212M+16.2%EPS $0.11

Q3 2025

Nov 5, 2025

$190M+6.8%EPS $0.09

Q2 2025

Aug 4, 2025

$189M+7.4%EPS $0.27

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$158M	$119M	$109M
Q2 22	$153M	$115M	$106M
Q3 22	$136M	$95M	$85M
Q4 22	$84M	$40M	$29M
Q1 23	$160M	$113M	$102M
Q2 23	$161M	$111M	$102M
Q3 23	$162M	$113M	$0
Q4 23	$163M	$114M	$54M
Q1 24	$167M	$113M	$58M
Q2 24	$176M	$121M	$67M
Q3 24	$178M	$119M	$64M
Q4 24	$182M	$123M	$67M
Q1 25	$184M	$124M	$67M
Q2 25	$189M	$128M	$72M
Q3 25	$190M	$120M	$60M
Q4 25	$212M	$131M	$65M

Valuation

Quarter	P/S	P/E
Q1 22	12.7x	—
Q2 22	8.9x	117.4x
Q3 22	12.2x	—
Q4 22	9.6x	—
Q1 23	9.5x	—
Q2 23	9.4x	—
Q3 23	9.0x	—
Q4 23	7.9x	369.3x
Q1 24	7.8x	102.6x
Q2 24	7.6x	97.2x
Q3 24	7.4x	52.3x
Q4 24	7.2x	40.1x
Q1 25	7.1x	36.1x
Q2 25	6.9x	27.9x
Q3 25	6.8x	29.0x
Q4 25	6.6x	32.7x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$63M	$63M
Q2 22	$77M	$77M
Q3 22	$108M	$108M
Q4 22	$68M	$68M
Q1 23	$68M	$68M
Q2 23	$70M	$70M
Q3 23	$83M	$3M
Q4 23	$79M	$79M
Q1 24	$53M	$53M
Q2 24	$80M	$80M
Q3 24	$98M	$98M
Q4 24	$80M	$80M
Q1 25	$80M	$80M
Q2 25	$81M	$81M
Q3 25	$100M	$100M
Q4 25	$87M	$87M

Capital Expenditures

Quarter	CapEx
Q1 22	$0
Q2 22	$0
Q3 22	$0
Q4 22	$0
Q1 23	$0
Q2 23	$0
Q3 23	$81M
Q4 23	$0
Q1 24	$0
Q2 24	$0
Q3 24	$0
Q4 24	$0
Q1 25	$0
Q2 25	$0
Q3 25	$0
Q4 25	$0

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+7.2%	+8.8%
Q2 22	+1010.2%	+10.9%
Q3 22	-52.8%	+15.3%
Q4 22	+372.0%	+24.1%
Q1 23	+1.6%	+18.6%
Q2 23	+4.6%	+24.2%
Q3 23	+18.5%	+215.2%
Q4 23	+94.2%	+99.0%
Q1 24	+3.9%	+87.3%
Q2 24	+9.7%	+86.0%
Q3 24	+10.1%	-29.7%
Q4 24	+11.6%	+5.5%
Q1 25	+10.1%	+6.8%
Q2 25	+7.4%	+7.4%
Q3 25	+6.8%	+14.8%
Q4 25	+16.2%	+28.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$2M	1.6%
Q2 22	$794.0K	0.5%
Q3 22	$2M	1.6%
Q4 22	$2M	2.5%
Q1 23	$2M	1.4%
Q2 23	$1M	0.6%
Q3 23	$2M	1.4%
Q4 23	$2M	1.5%
Q1 24	$3M	1.5%
Q2 24	$1M	0.8%
Q3 24	$3M	1.5%
Q4 24	$3M	1.4%
Q1 25	$3M	1.5%
Q2 25	$3M	1.4%
Q3 25	$3M	1.5%
Q4 25	$3M	1.4%

OpEx Breakdown

Quarter	G&A
Q1 22	$10M
Q2 22	$9M
Q3 22	$10M
Q4 22	$11M
Q1 23	$11M
Q2 23	$10M
Q3 23	$11M
Q4 23	$17M
Q1 24	$12M
Q2 24	$13M
Q3 24	$12M
Q4 24	$13M
Q1 25	$13M
Q2 25	$13M
Q3 25	$13M
Q4 25	$16M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$29M	$0	$29M
Q2 22	$72M	$0	$72M
Q3 22	$31M	$0	$31M
Q4 22	$49M	$0	$49M
Q1 23	$39M	$0	$39M
Q2 23	$32M	$0	$32M
Q3 23	$39M	$0	$39M
Q4 23	$41M	$0	$41M
Q1 24	$60M	$0	$60M
Q2 24	$36M	$0	$36M
Q3 24	$63M	$0	$63M
Q4 24	$60M	$0	$60M
Q1 25	$23M	$0	$23M
Q2 25	$95M	$0	$95M
Q3 25	$201M	$0	$201M
Q4 25	$72M	$0	$72M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	232M	+1.8%	+8.9%
Q2 22	232M	+0.1%	+7.1%
Q3 22	231M	-0.3%	+4.0%
Q4 22	231M	+0.0%	+1.5%
Q1 23	231M	+0.1%	-0.2%
Q2 23	232M	+0.5%	+0.2%
Q3 23	231M	-0.4%	+0.1%
Q4 23	233M	+0.9%	+1.0%
Q1 24	233M	+0.1%	+1.0%
Q2 24	234M	+0.2%	+0.6%
Q3 24	237M	+1.4%	+2.5%
Q4 24	240M	+1.1%	+2.8%
Q1 25	240M	+0.3%	+3.0%
Q2 25	241M	+0.3%	+3.1%
Q3 25	244M	+1.1%	+2.7%
Q4 25	253M	+3.8%	+5.5%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$4M	42
Q2 22	$4M	42
Q3 22	$3M	42
Q4 22	$2M	42
Q1 23	$4M	42
Q2 23	$4M	42
Q3 23	$4M	42
Q4 23	$3M	48
Q1 24	$3M	48
Q2 24	$4M	48
Q3 24	$4M	48
Q4 24	$4M	50
Q1 25	$4M	50
Q2 25	$4M	50
Q3 25	$4M	50
Q4 25	$4M	58

Revenue / Employee