CareTrust REIT, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data CareTrust REIT, Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	105	133	157	163	178	192	196	218	296	476
Cost of revenue	2.55	2.73	2.96	2.9	1.87	0
Gross profit	102	130	154	161	176	192
General and administrative	9.3	11.1	12.6	15.2	16.3	26.9	20.2	21.8	28.9	52.5
Operating expenses	75.1	111	101
Interest expense	22.9	24.2	27.9	28.1	23.7	23.7	30	40.9	30.3	43.7
Interest income			0.2	1.3	0.1
Other non-operating income								0	0	4.35
Pre-tax income								53.7	124	325
Income tax								0	0	5
Net income to minority interests						0	0	-0.01	-0.68	-0.25
Net income	29.4	25.9	57.9	46.4	80.9	72	-7.51	53.7	125	321
EPS, basic	0.52	0.35	0.73	0.49	0.85	0.74	-0.08	0.50	0.81	1.57
EPS, diluted	0.52	0.35	0.72	0.49	0.85	0.74	-0.08	0.50	0.80	1.57
Shares, basic (weighted)	56	72.6	79.4	93.1	95.2	96	96.7	106	155	204
Shares, diluted (weighted)	56	72.6	79.4	93.1	95.2	96.1	96.7	106	155	204
Dividend per share	0.68	0.74	0.82	0.90	1.00	1.06	1.10	1.12	1.16	1.34

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	7.5	6.91	36.8	20.3	18.9	19.9	13.2	294	214	198
Intangible assets	1.91	2.38	2.38						3.55	48.8
Total assets	925	1,185	1,292	1,519	1,504	1,641	1,621	2,085	3,437	5,148
Total liabilities	473	590	524	591	589	725	771	666	508	1,089
Total debt	450	559	490	555	546	673	719	596	397	894
Paid-in capital	611	783	966	1,163	1,164	1,197	1,245	1,883	3,439	4,519
Other comprehensive income									0	5.87
Shareholders' equity	452	595	768	928	914	916	849	1,417	2,908	4,035
Minority interests							0	1.9	2.72	5.53
Total equity	452	595	768	928	914	916	849	1,419	2,911	4,041
Total liabilities and equity	925	1,185	1,292	1,519	1,504	1,641	1,621	2,085	3,437	5,148
Shares outstanding	64.8	75.5	85.9	95.1	95.2	96.3	99	130	187	223

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	29.4	25.9	57.9	46.4	80.9	72	-7.51	53.7	124	320
Depreciation and amortization	32	39.2	45.8	51.9	52.8	55.4	50.3	51.2	56.8	92.9
Stock-based compensation	1.55	2.42	3.85	4.1	3.79	10.8	5.76	5.15	6.13	11.9
Change in receivables	-3.4	-9.43	-3.8	-6.28	0.83	-0.56	0.6	-0.01	-0.81	-0.19
Change in payables	2.93	5.28	-1.44	2.7	3.79	6.06	-1.05	2.42	24	28
Cash from operations	64.4	88.8	99.4	126	146	157	144	155	244	394
Capital expenditures	-0.15	-0.4	-1.78	-2.94
Cash from investing	-285	-303	-115	-316	-41.6	-193	-127	-268	-1,514	-1,461
Stock issued	200	170	180	196	-0.4	22.9	47.2	634	1,553	1,071
Dividends paid	-37.3	-52.6	-63	-80.6	-93.2	-101	-106	-115	-172	-259
Cash from financing	216	213	45.6	173	-106	36.7	-23.7	394	1,189	1,051
Exchange rate effect								0	0	0.52
Net change in cash	-3.97	-0.59	29.9	-16.5	-1.41	0.98	-6.72	281	-80.6	-15.8
Free cash flow	64.3	88.4	97.6	123
Interest paid	21.2	29.6	25.9	26	21.7	22.8	25.9	40	27.9	39.9
Income taxes paid	0

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $37.41 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Pre-tax margin	63.6%	Pre-tax income / revenue.
Net margin	62.2%	Net income / revenue.
Operating cash flow margin	78.2%	Cash from operations / revenue.
Effective tax rate	2.4%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	7.9%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	6.0%	Net income / average total assets.
Stock-based pay / revenue	2.0%	Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue	19.9%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	60.8%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	34.4%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	21.7%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	156.3%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 5y	31.7%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	96.3%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 5y	13.1%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	61.3%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	39.7%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	22.0%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	15.5%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	6.8%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	6.0%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	38.7%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	68.1%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	34.6%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	49.8%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	47.0%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	27.9%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	31.5%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	28.3%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	16.5%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Debt / equity	0.27x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	20.3%	Total debt / total assets.
Liabilities / assets	23.9%	Total liabilities / total assets.
Net debt	$1.16B	Total debt - cash - short-term investments. Negative means more cash than debt.
Tangible book value	$4.49B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.10x	Revenue / average total assets.

Per share

Metric	Value	How it is calculated
EPS, diluted	$1.52	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$2.44	Revenue / diluted weighted shares.
Operating cash flow per share	$1.91	Cash from operations / diluted weighted shares.
Book value per share	$19.03	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$19.03	Tangible book value / shares outstanding.
Cash per share	$0.20	(Cash + short-term investments) / shares outstanding.
Payout ratio	85.9%	Dividends paid / net income, when net income is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$8.84B	Share price x shares outstanding.
Enterprise value	$10.00B	Market cap + total debt - cash - short-term investments.
P/E	24.9x	Market cap / net income. Only when net income is positive.
P/S	15.5x	Market cap / revenue.
P/B	1.97x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.97x	Market cap / tangible book value, when positive.
P/OCF	19.8x	Market cap / cash from operations, when positive.
EV/Sales	17.5x	Enterprise value / revenue.
Earnings yield	4.0%	Net income / market cap (the inverse of P/E).
Dividend yield	3.5%	Dividends paid over the period / market cap.
Shareholder yield	3.5%	(Dividends paid + share buybacks) / market cap.

What was CareTrust REIT, Inc.'s revenue in fiscal 2025?

CareTrust REIT, Inc. reported revenue of $476.4M for fiscal 2025, 60.8% higher than the year before.

Was CareTrust REIT, Inc. profitable in fiscal 2025?

Yes. Net income was $320.5M, a net margin of 67.3%.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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