SBRA FY 2023 Earnings Report — Sabra Health Care REIT, Inc. Revenue & Financial Results | Market Cap Arena

Sabra Health Care REIT, Inc.SBRA

FY 2023 Earnings

Reported February 27, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$648M	—	$625M	—	3.6%
Op. Income	$222M	—	$235M	—	-5.6%
Gross Margin	69.8%	—	74.0%	—	-4.1pp
Net Margin	2.1%	—	-12.4%	—	14.5pp
EPS (Diluted)	$0.06	—	$-0.34	—	117.4%
Free Cash Flow	$301M	—	$316M	—	-4.8%

Revenue Flow

Item	Amount
REVENUE	$648M
Cost of Revenue	$195M
GROSS PROFIT	$452M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$47M
SG&A Expenses	$47M
Other Expenses	$183M
Operating Expenses	$231M
Cost & Expenses	$426M
OPERATING INCOME	$222M
Interest Income	$0
Interest Expense	$113M
Other Income/Expenses	-$206M
INCOME BEFORE TAX	$16M
Income Tax Expense	$2M
Net Income from Continuing Ops	$14M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$14M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$14M
D&A	$183M
EBIT	$129M
EBITDA	$312M
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$648M
Cost of Revenue	$195M
GROSS PROFIT	$452M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$47M
SG&A Expenses	$47M
Other Expenses	$183M
Operating Expenses	$231M
Cost & Expenses	$426M
OPERATING INCOME	$222M
Interest Income	$0
Interest Expense	$113M
Other Income/Expenses	-$206M
INCOME BEFORE TAX	$16M
Income Tax Expense	$2M
Net Income from Continuing Ops	$14M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$14M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$14M
D&A	$183M
EBIT	$129M
EBITDA	$312M
EPS	$0
EPS Diluted	$0

Cash Flow Statement

Item	Amount
Net Income	$14M
Depreciation & Amortization	$183M
Stock-Based Compensation	$8M
Deferred Income Tax	$0
Other Non-Cash Items	$99M
Change in Working Capital	-$3M
OPERATING CASH FLOW	$301M
Capital Expenditure	$0
Acquisitions (Net)	-$5M
Purchases of Investments	-$11M
Sales/Maturities of Investments	$0
Other Investing Activities	$119M
NET CASH FROM INVESTING	$103M
Net Debt Issuance	-$94M
Common Stock Repurchased	-$3M
Common Dividends Paid	-$277M
Other Financing Activities	-$36M
NET CASH FROM FINANCING	-$410M
FREE CASH FLOW	$301M
Net Change in Cash	-$7M

Balance Sheet

Item	Amount
Cash & Equivalents	$41M
Short-Term Investments	$0
Net Receivables	$134M
Inventory	$0
Other Current Assets	$5M
TOTAL CURRENT ASSETS	$181M
PP&E (Net)	$0
Goodwill	$0
Intangible Assets	$31M
Long-Term Investments	$195M
Tax Assets	$0
Other Non-Current Assets	$5.0B
TOTAL NON-CURRENT ASSETS	$5.2B
TOTAL ASSETS	$5.4B
Account Payables	$0
Short-Term Debt	$94M
Deferred Revenue	$0
Other Current Liabilities	$137M
TOTAL CURRENT LIABILITIES	$231M
Long-Term Debt	$2.3B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$2.4B
TOTAL LIABILITIES	$2.6B
Common Stock	$2M
Additional Paid-In Capital	$4.5B
Retained Earnings	-$1.7B
Treasury Stock	$0
Accum. Other Comp. Income	$24M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.8B
Minority Interest	$0
TOTAL EQUITY	$2.8B
TOTAL LIABILITIES & EQUITY	$5.4B
Total Debt	$2.4B
Net Debt	$2.4B