SBRA FY 2019 Earnings Report — Sabra Health Care REIT, Inc. Revenue & Financial Results | Market Cap Arena

Sabra Health Care REIT, Inc.SBRA

FY 2019 Earnings

Reported February 24, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$668M	—	$623M	—	7.2%
Op. Income	$528M	—	$307M	—	71.9%
Gross Margin	83.6%	—	92.1%	—	-8.5pp
Net Margin	10.3%	—	44.8%	—	-34.4pp
EPS (Diluted)	$0.37	—	$1.56	—	-76.3%
Free Cash Flow	$372M	—	$452M	—	-17.6%

Revenue Flow

Item	Amount
REVENUE	$668M
Cost of Revenue	$110M
GROSS PROFIT	$558M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$31M
SG&A Expenses	$31M
Other Expenses	$0
Operating Expenses	$31M
Cost & Expenses	$141M
OPERATING INCOME	$528M
Interest Income	$0
Interest Expense	$127M
Other Income/Expenses	-$455M
INCOME BEFORE TAX	$72M
Income Tax Expense	$3M
Net Income from Continuing Ops	$69M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$69M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$69M
D&A	$181M
EBIT	$346M
EBITDA	$527M
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$668M
Cost of Revenue	$110M
GROSS PROFIT	$558M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$31M
SG&A Expenses	$31M
Other Expenses	$0
Operating Expenses	$31M
Cost & Expenses	$141M
OPERATING INCOME	$528M
Interest Income	$0
Interest Expense	$127M
Other Income/Expenses	-$455M
INCOME BEFORE TAX	$72M
Income Tax Expense	$3M
Net Income from Continuing Ops	$69M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$69M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$69M
D&A	$181M
EBIT	$346M
EBITDA	$527M
EPS	$0
EPS Diluted	$0

Cash Flow Statement

Item	Amount
Net Income	$69M
Depreciation & Amortization	$182M
Stock-Based Compensation	$10M
Deferred Income Tax	$158M
Other Non-Cash Items	-$22M
Change in Working Capital	-$24M
OPERATING CASH FLOW	$372M
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	-$90M
Sales/Maturities of Investments	$5M
Other Investing Activities	$347M
NET CASH FROM INVESTING	$263M
Net Debt Issuance	-$849M
Common Stock Repurchased	$0
Common Dividends Paid	-$335M
Other Financing Activities	-$11M
NET CASH FROM FINANCING	-$646M
FREE CASH FLOW	$372M
Net Change in Cash	-$11M

Balance Sheet

Item	Amount
Cash & Equivalents	$49M
Short-Term Investments	$0
Net Receivables	$0
Inventory	$0
Other Current Assets	-$49M
TOTAL CURRENT ASSETS	$0
PP&E (Net)	$9M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	-$111M
TOTAL NON-CURRENT ASSETS	$0
TOTAL ASSETS	$6.1B
Account Payables	$0
Short-Term Debt	$4M
Deferred Revenue	$0
Other Current Liabilities	-$4M
TOTAL CURRENT LIABILITIES	$0
Long-Term Debt	$2.4B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	-$2.5B
TOTAL NON-CURRENT LIABILITIES	$0
TOTAL LIABILITIES	$2.6B
Common Stock	$2M
Additional Paid-In Capital	$4.1B
Retained Earnings	-$573M
Treasury Stock	$0
Accum. Other Comp. Income	-$2M
Other Equity	-$11M
TOTAL STOCKHOLDERS' EQUITY	$3.5B
Minority Interest	$0
TOTAL EQUITY	$3.5B
TOTAL LIABILITIES & EQUITY	$6.1B
Total Debt	$2.5B
Net Debt	$2.4B