SBRA FY 2017 Earnings Report — Sabra Health Care REIT, Inc. Revenue & Financial Results | Market Cap Arena

Sabra Health Care REIT, Inc.SBRA

FY 2017 Earnings

Reported February 21, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2017	Prior Q	FY 2016	QoQ Change	YoY Change
Revenue	$406M	—	$261M	—	55.7%
Op. Income	$224M	—	$161M	—	39.5%
Gross Margin	95.6%	—	97.8%	—	-2.2pp
Net Margin	39.0%	—	27.0%	—	12.1pp
EPS (Diluted)	$1.40	—	$0.92	—	52.2%
Free Cash Flow	-$201M	—	$177M	—	-213.5%

Revenue Flow

Item	Amount
REVENUE	$406M
Cost of Revenue	$18M
GROSS PROFIT	$388M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$32M
SG&A Expenses	$32M
Other Expenses	$3M
Operating Expenses	$163M
Cost & Expenses	$181M
OPERATING INCOME	$224M
Interest Income	$0
Interest Expense	$88M
Other Income/Expenses	-$74M
INCOME BEFORE TAX	$159M
Income Tax Expense	$651.0K
Net Income from Continuing Ops	$158M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$158M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$148M
D&A	$163M
EBIT	$247M
EBITDA	$354M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$406M
Cost of Revenue	$18M
GROSS PROFIT	$388M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$32M
SG&A Expenses	$32M
Other Expenses	$3M
Operating Expenses	$163M
Cost & Expenses	$181M
OPERATING INCOME	$224M
Interest Income	$0
Interest Expense	$88M
Other Income/Expenses	-$74M
INCOME BEFORE TAX	$159M
Income Tax Expense	$651.0K
Net Income from Continuing Ops	$158M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$158M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$148M
D&A	$163M
EBIT	$247M
EBITDA	$354M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$158M
Depreciation & Amortization	$113M
Stock-Based Compensation	$8M
Deferred Income Tax	-$33M
Other Non-Cash Items	-$23M
Change in Working Capital	-$90M
OPERATING CASH FLOW	$133M
Capital Expenditure	-$334M
Acquisitions (Net)	$78M
Purchases of Investments	-$3M
Sales/Maturities of Investments	$4M
Other Investing Activities	$15M
NET CASH FROM INVESTING	-$240M
Net Debt Issuance	$430M
Common Stock Repurchased	$0
Common Dividends Paid	-$182M
Other Financing Activities	-$16M
NET CASH FROM FINANCING	$599M
FREE CASH FLOW	-$201M
Net Change in Cash	$493M

Balance Sheet

Item	Amount
Cash & Equivalents	$519M
Short-Term Investments	$0
Net Receivables	$235M
Inventory	$0
Other Current Assets	$69M
TOTAL CURRENT ASSETS	$871M
PP&E (Net)	$6.0B
Goodwill	$0
Intangible Assets	$167M
Long-Term Investments	$48M
Tax Assets	$7.0B
Other Non-Current Assets	-$7.1B
TOTAL NON-CURRENT ASSETS	$6.2B
TOTAL ASSETS	$7.0B
Account Payables	$103M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$103M
Long-Term Debt	$3.4B
Deferred Revenue NC	$3.6B
Deferred Tax Liabilities	$98M
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$3.5B
TOTAL LIABILITIES	$3.6B
Common Stock	$2M
Additional Paid-In Capital	$3.6B
Retained Earnings	-$217M
Treasury Stock	$0
Accum. Other Comp. Income	$11M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.4B
Minority Interest	$4M
TOTAL EQUITY	$3.4B
TOTAL LIABILITIES & EQUITY	$7.0B
Total Debt	$3.4B
Net Debt	$2.9B