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CareTrust REIT

CTRE NYSE Health Care REITs Financials FY2016–FY2025

CareTrust REIT's revenue rose 60.8% to $476 million in fiscal 2025. Its net margin was 67.3%, up from 42.2% a year earlier. It paid out $259 million in dividends and buybacks. The diluted share count rose 31.5%.

Last close · Oct 23, 2026

$36.62

0.0%
Value it Compare
Revenue Total sales reported in the income statement.
$476M
60.8% vs prior year
Operating margin Operating income as a share of revenue.
—
Net income Profit after all expenses, interest and tax.
$321M
156.2%
Free cash flow Cash from operations minus capital spending.
—
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
9.3%
2.8 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$8.6B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
22.9x
On $1.60 EPS (TTM)

What CareTrust REIT does

No business description yet.

Legal name
CareTrust REIT, Inc.
Fiscal year ends
December 31, 2025
Latest annual report
—
Accession · CIK
0001628280-26-007664
0001590717

Revenue and margins

CareTrust REIT had $476M of revenue in fiscal 2025, up 60.8% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew 13.1% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was — in fiscal 2025, — of revenue. Cash from operations minus capital spending.

Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

CareTrust REIT returned $259M to shareholders in fiscal 2025. The diluted share count rose 31.5%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value CareTrust REIT yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of −$696M and divides by 204.1M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 22.9x · peers 75.2x · sector 28.2x.

Balance sheet

Cash, debt and the ratios that show how comfortably CareTrust REIT can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $19.9M$13.2M$294M$214M$198M
Debt incl. finance leases $673M$720M$596M$397M$894M
Net debt / EBITDA ——2.1x0.9x1.5x
Debt / equity 0.7x0.9x0.4x0.1x0.2x
Interest coverage ——2.3x5.1x8.4x
Total assets $1.6B$1.6B$2.1B$3.4B$5.1B
Total liabilities $725M$771M$666M$508M$1.1B
Shareholders' equity $916M$849M$1.4B$2.9B$4.0B
Net debt (− = net cash) $654M$706M$301M$183M$696M

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$0.0M

0 insiders

Of sales under plans

—

$0.0M

No open-market insider trades in the last 12 months.

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✓ ✓ ✓
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✓ ✓ ✕
Current ratio rose — — —
Share count didn't rise ✕ ✕ ✕
Gross margin rose — — —
Revenue rose relative to assets ✓ ✓ ✕
F-score — / 9— / 9— / 9
Accruals ratio −5.5%−4.3%−1.7%
Altman Z'' ———

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
CareTrust REIT CTRE $8.6B 60.8% — — 9.3% 22.9x —
Sabra Health Care REIT SBRA $4.9B 10.2% — — 5.1% 75.2x — Compare →
Healthcare Realty Trust HR $6.1B −6.9% — 10.8% — — — Compare →
Omega Healthcare Investors OHI $14.6B 13.2% — 67.0% 8.8% 16.5x — Compare →
American Healthcare REIT AHR $10.2B 9.2% 18.4% — — 78.0x — Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $105M $133M $157M $163M $178M $192M $196M $218M $296M $476M
Gross profit $102M $130M $154M $161M $177M $192M — — — —
Interest expense $22.9M $24.2M $27.9M $28.1M $23.7M $23.7M $30.0M $40.9M $30.3M $43.7M
Pretax income — — — — — — — $53.7M $124M $325M
Income tax — — — — — — — $0.0M $0.0M $5.0M
Net income $29.4M $25.9M $57.9M $46.4M $80.9M $72.0M −$7.5M $53.7M $125M $321M
Diluted EPS $0.52 $0.35 $0.72 $0.49 $0.85 $0.74 −$0.08 $0.50 $0.80 $1.57
Diluted shares 0.06B 0.07B 0.08B 0.09B 0.10B 0.10B 0.10B 0.11B 0.16B 0.20B
Cash flow
Cash from operations $64.4M $88.8M $99.4M $126M $146M $157M $144M $155M $244M $394M
Capital expenditure $0.2M $0.4M $1.8M $2.9M — — — — — —
Free cash flow $64.3M $88.4M $97.6M $123M — — — — — —
Depreciation and amortization $32.0M $39.2M $45.8M $51.9M $52.8M $55.4M $50.3M $51.2M $56.8M $92.9M
Stock-based compensation $1.5M $2.4M $3.8M $4.1M $3.8M $10.8M $5.8M $5.2M $6.1M $11.9M
Acquisitions $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Share buybacks $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Dividends paid $37.3M $52.6M $63.0M $80.6M $93.2M $101M $106M $116M $172M $259M
Dividends and buybacks $37.3M $52.6M $63.0M $80.6M $93.2M $101M $106M $115M $172M $259M
Balance sheet
Cash and short-term investments $7.5M $6.9M $36.8M $20.3M $18.9M $19.9M $13.2M $294M $214M $198M
Total debt $450M $559M $490M $555M $546M $673M $720M $596M $397M $894M
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Inventory $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Total assets $925M $1.2B $1.3B $1.5B $1.5B $1.6B $1.6B $2.1B $3.4B $5.1B
Total liabilities $473M $590M $524M $591M $589M $725M $771M $666M $508M $1.1B
Shareholders' equity $452M $595M $768M $928M $914M $916M $849M $1.4B $2.9B $4.0B
Margins
Gross margin 97.6% 97.9% 98.1% 98.2% 99.0% 100.0% — — — —
EBITDA margin — — — — — — — 67.0% 71.4% 97.0%
Net margin 28.0% 19.5% 36.9% 28.4% 45.4% 37.4% −3.8% 24.7% 42.2% 67.3%
FCF margin 61.4% 66.5% 62.2% 75.5% — — — — — —
Returns
Return on capital — — — — — — — 5.8% 6.4% 9.3%
Return on equity 8.2% 4.9% 8.5% 5.5% 8.8% 7.9% −0.9% 4.7% 5.8% 9.2%
Return on assets 3.7% 2.5% 4.7% 3.3% 5.4% 4.6% −0.5% 2.9% 4.5% 7.5%
Growth
Revenue growth 39.7% 27.0% 18.0% 4.1% 9.1% 7.9% 2.0% 11.0% 36.1% 60.8%
Net income growth 192.5% −11.9% 123.9% −20.0% 74.4% −11.0% −110.4% — 132.8% 156.3%
EPS growth 100.0% −32.7% 105.7% −31.9% 73.5% −12.9% −110.8% — 60.0% 96.3%
FCF growth 60.8% 37.5% 10.4% 26.4% — — — — — —
Share count change 49.9% 29.7% 9.3% 17.3% 2.3% 0.9% 0.6% 9.8% 46.2% 31.5%
Financial health
Net debt / EBITDA — — — — — — — 2.1x 0.9x 1.5x
Debt / equity 1.0x 0.9x 0.6x 0.6x 0.6x 0.7x 0.9x 0.4x 0.1x 0.2x
Interest coverage — — — — — — — 2.3x 5.1x 8.4x
Capital allocation
Capex / revenue 0.1% 0.3% 1.1% 1.8% — — — — — —
Stock comp / revenue 1.5% 1.8% 2.5% 2.5% 2.1% 5.6% 2.9% 2.4% 2.1% 2.5%
Payouts / FCF 58.0% 59.5% 64.6% 65.4% — — — — — —
Quality scores
Accruals ratio −4.4% −6.0% −3.4% −5.7% −4.3% −5.4% −9.3% −5.5% −4.3% −1.7%

Source: SEC EDGAR XBRL filings (CIK 0001590717). Data updated October 17, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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