Sabra Health Care REIT (SBRA) FY2023 results: revenue $648 million, up 3.6% on the year

Sabra Health Care REIT, Inc. (SBRA) reported revenue of $648 million for fiscal 2023, the year ended 31 December 2023, up 3.6% on the year before. Net income was $14 million, and diluted earnings per share $0.06. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2024.

Revenue

$648 million

+3.6% on the year

FY2016FY2023

Operating margin

n/a

FY2016FY2023

Net income

$14 million

FY2016FY2023

Diluted EPS

$0.06

FY2016FY2023

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2023 · Q2 FY2023 · Q3 FY2023 · Q4 FY2023

Income statement (profit and loss)

$ million	FY2023	FY2022	FY2021	On the year
Revenue	648	625	570	+3.6%
Interest expense	113	105	98.6	+7.1%
Pre-tax income	18.7	21.7	80.7	-13.9%
Income tax	2.0	1.2	1.8	+61.2%
Effective tax rate	10.7%	5.7%	2.3%
Net income	13.8	-77.6	-113
Net margin	2.1%	-12.4%	-19.9%
Diluted EPS	$0.06	-$0.34	-$0.52

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2023	FY2022	FY2021	On the year
Operating cash flow	301	316	356	-4.8%
Cash from investing	103	-216	-336
Cash from financing	-410	-162	30.1
Depreciation and amortisation	183	188	179	-2.5%
Share-based compensation	7.9	7.5	7.9	+6.2%
Dividends paid	277	277	263	+0.1%
Dividend per share	$1.20	$1.20	$1.20	0.0%
Diluted shares, weighted	233m	231m	219m	+0.8%
Shares outstanding at period end	231m	231m	230m	+0.1%

Balance sheet

$ million	FY2023	FY2022	FY2021	On the year
Shareholders' equity	2,803	3,056	3,380	-8.3%
Debt	2,414	2,507	2,394	-3.7%
Other liabilities	170	185	193	-8.1%
Total liabilities and equity	5,386	5,748	5,967	-6.3%
Intangible assets	30.9	40.1	54.1	-23.0%
Cash and equivalents	41.3	49.3	112	-16.3%
Other assets	5,314	5,658	5,801	-6.1%
Total assets	5,386	5,748	5,967	-6.3%

10-K for the year ended 31 December 2023, filed 27 February 2024: the filing.