SBRASabra Health Care REIT, Inc.
Real Estate Investment Trusts
- Revenue
- $357M
- 25% YoY
- Operating margin
- —
- EBITDA
- —
- Market cap
- $5.0B
- Employees
- —
- Net debt / EBITDA
- —
- $2.4B net debt
- AI in 10-K
- 0.1
- mentions per 10K words
Takeover score 1 of 13
Fixable underperformance 0 of 7
- TSR below peersNo—3+ of last 5 years
- High CEO pay despite TSRNo$8M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo224% of net incomeCash flow under 80% of net income
- Dilutive SBCNo3% of revenueOver 10% of revenue
- Payouts exceed cash flowNo83% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo—Over 40% of assets
- Shareholder dissentNo96% lowest supportAny vote under 80% support
Buyer economics 1 of 4
- Low revenue per employeeNo—Bottom quartile of its SIC industry
- Quiet on AIYes0.1 per 10K words · 9th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedNo$5.0B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo−$4M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $156M | $187M | $236M | $285M | $357M | 25% |
| Net income | −$113M | −$78M | $14M | $127M | $156M | 23% |
| Operating cash flow | $356M | $316M | $301M | $311M | $349M | 12% |
| Stock-based comp | $8M | $7M | $8M | $9M | $11M | 26% |
| Dividends | $263M | $277M | $277M | $280M | $289M | 3.3% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $4M · 2
- Net
- −$4M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $9M | $13M | — | — |
| FY2024 | $8M | $14M | — | — |
| FY2023 | $8M | $12M | — | — |
| FY2022 | $7M | $7M | — | — |
| FY2021 | $6M | $1M | — | — |