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CareTrust REIT, Inc. is a self-administered, publicly traded REIT engaged in the ownership, acquisition, financing, development and leasing of skilled nursing, senior housing and other healthcare-related properties. As of December 31, 2025, CareTrust REIT owned, directly or indirectly in consolidated joint ventures, and leased to independent operators, 407 skilled nursing facilities (each, a SNF), senior housing communities and other properties consisting of 37,628 operational beds and units located in 32 states and the United Kingdom, with the highest concentration of properties by rental income located in California, the U.K., Texas, and Tennessee. As of December 31, 2025, we also had other real estate related investments consisting of four preferred equity investments, 16 real estate secured loans receivable and five mezzanine loans receivable with a carrying value of 899.3 million US dollars and one financing receivable with a carrying value of 92.2 million US dollars. CareTrust REIT, Inc. was established and incorporated on October 29, 2013 in Maryland, USA
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $369M | $462M | $321M | $379M | 7.9% | 61.8% | 156.3% |
| 2024 | $228M | $212M | $125M | $236M | 4.3% | 14.9% | 132.8% |
| 2023 | $199M | $146M | $54M | $144M | 3.8% | 5.9% | - |
| 2022 | $188M | $73M | $-8M | $137M | -0.9% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 187.51 | 198.60 | 228.26 | 369.42 |
| Cost Of Revenue | 9.37 | 9.59 | 13.55 | 8.63 |
| Gross Profit | 178.13 | 189.01 | 214.71 | 360.79 |
| Operating Expense | 74.33 | 73 | 90.65 | 146.31 |
| Operating Income | 103.81 | 116 | 124.06 | 214.48 |
| EBITDA | 72.88 | 145.80 | 211.54 | 461.88 |
| EBIT | 22.50 | 94.61 | 154.71 | 368.99 |
| Pretax Income | -7.51 | 53.72 | 124.40 | 325.29 |
| Tax Provision | 0 | 0 | 0 | 5 |
| Net Income | -7.51 | 53.73 | 125.08 | 320.54 |
| Net Income Common Stockholders | -7.95 | 53.34 | 124.64 | 319.80 |
| Total Expenses | 83.70 | 82.60 | 104.21 | 154.94 |
| Interest Expense | 30.01 | 40.88 | 30.31 | 43.71 |
| Interest Income | 8.63 | 19.17 | 68.03 | 106.97 |
| Selling General And Administration | 19.27 | 20.90 | 27.90 | 50.53 |
| Normalized EBITDA | 162.81 | 186.37 | 248.91 | 418.70 |
| Normalized Income | 82.43 | 94.30 | 162.45 | 278.01 |
| Basic EPS | -0.08 | 0.50 | 0.81 | 1.57 |
| Diluted EPS | -0.08 | 0.50 | 0.80 | 1.57 |
| Tax Effect Of Unusual Items | 0 | 0 | 0 | 0.66 |
| Tax Rate For Calcs | 0 | 0 | 0 | 0.02 |
| Total Unusual Items | -89.93 | -40.57 | -37.37 | 43.19 |
| Total Unusual Items Excluding Goodwill | -89.93 | -40.57 | -37.37 | 43.19 |
| Net Income From Continuing Operation Net Minority Interest | -7.51 | 53.73 | 125.08 | 320.54 |
| Reconciled Depreciation | 50.38 | 50.87 | 54.07 | 86.44 |
| Reconciled Cost Of Revenue | 9.31 | 9.92 | 16.31 | 15.08 |
| Net Interest Income | -21.38 | -21.71 | 37.72 | 63.27 |
| Net Income From Continuing And Discontinued Operation | -7.51 | 53.73 | 125.08 | 320.54 |
| Diluted Average Shares | 96.70 | 106.15 | 155.17 | 204.09 |
| Basic Average Shares | 96.70 | 105.96 | 154.79 | 203.64 |
| Diluted NI Availto Com Stockholders | -7.95 | 53.34 | 124.64 | 319.80 |
| Otherunder Preferred Stock Dividend | 0.44 | 0.40 | 0.45 | 0.74 |
| Minority Interests | 0 | 0.01 | 0.68 | 0.25 |
| Net Income Including Noncontrolling Interests | -7.51 | 53.72 | 124.40 | 320.29 |
| Net Income Continuous Operations | -7.51 | 53.72 | 124.40 | 320.29 |
| Other Income Expense | -89.93 | -40.57 | -37.37 | 47.54 |
| Other Non Operating Income Expenses | 0 | 0 | 0 | 4.35 |
| Special Income Charges | -79.06 | -36.30 | -44.21 | -8.20 |
| Other Special Charges | 0 | 0 | 0.66 | 0.39 |
| Impairment Of Capital Assets | 79.06 | 36.30 | 42.23 | 2.48 |
| Restructuring And Mergern Acquisition | 0 | 0 | 1.33 | 5.33 |
| Gain On Sale Of Security | -10.87 | -4.27 | 6.84 | 51.39 |
| Net Non Operating Interest Income Expense | -21.38 | -21.71 | 37.72 | 63.27 |
| Total Other Finance Cost | 0 | 0 | 1.33 | 0 |
| Interest Expense Non Operating | 30.01 | 40.88 | 30.31 | 43.71 |
| Interest Income Non Operating | 8.63 | 19.17 | 68.03 | 106.97 |
| Other Operating Expenses | 3.84 | 0 | 4.90 | 0.95 |
| Other Taxes | 0.90 | 0.91 | 1.02 | 1.93 |
| Depreciation Amortization Depletion Income Statement | 50.32 | 51.20 | 56.83 | 92.89 |
| Depreciation And Amortization In Income Statement | 50.32 | 51.20 | 56.83 | 92.89 |
| General And Administrative Expense | 19.27 | 20.90 | 27.90 | 50.53 |
| Other Gand A | 9.96 | 10.39 | 12.07 | 20.17 |
| Salaries And Wages | 9.31 | 10.50 | 15.83 | 30.36 |
| Operating Revenue | 187.51 | 198.60 | 228.26 | 369.42 |
Real Estate sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| CareTrust REIT, Inc.this co. | CTRE | $8.7B | 24.81↓ discount | 2.15 | 7.9% | 22.90 |
| American Healthcare REIT, Inc. | AHR | $9.6B | 119.55 | 2.81 | 2.1% | 28.54 |
| Sunstone Hotel Investors, Inc. | SHO | $5.9B | 74.36 | 1.10 | 1.5% | 12.68 |
| Compass, Inc. | COMP | $5.7B | - | 5.49 | -7.4% | 78.14 |
| Kite Realty Group Trust | KRG | $5.4B |
| 19.73 |
| 1.77 |
| 9.4% |
| 17.19 |
| Sabra Health Care REIT, Inc. | SBRA | $5.1B | 31.80 | 1.82 | 5.5% | 16.99 |
| Newmark Group, Inc. | NMRK | $4.0B | 23.19 | 1.96 | 7.3% | 13.82 |
| Hudson Pacific Properties, Inc. | HPP | $4.0B | - | 0.19 | -17.5% | 16.10 |
| Independence Realty Trust, Inc. | IRT | $4.0B | 67.88 | 1.12 | 1.6% | 16.62 |
| Peer Median | - | 49.84 | 1.79 | 1.8% | 16.80 | |