Latest Ratios: P/E Ratio 30.8x · EV/EBITDA 16.5x · ROE 5.6%. (2010–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $5.0B | $4.6B | $4.1B | $3.3B | $2.9B | $3.0B | $3.6B | $4.0B | $2.9B | $2.0B | $1.6B |
| Enterprise Value | $7.5B | $7.1B | $6.5B | $5.7B | $5.4B | $5.3B | $6.0B | $6.4B | $6.1B | $4.9B | $2.8B |
| P/E Ratio → | 30.83 | 29.59 | 32.07 | 241.46 | — | — | 25.93 | 57.68 | 10.56 | 13.41 | 26.54 |
| P/S Ratio | 6.42 | 5.98 | 5.81 | 5.13 | 4.59 | 5.21 | 6.01 | 6.01 | 4.72 | 4.90 | 6.14 |
| P/B Ratio | 1.71 | 1.64 | 1.49 | 1.19 | 0.94 | 0.88 | 1.06 | 1.15 | 0.90 | 0.58 | 1.58 |
| P/FCF | 14.27 | 13.28 | 13.17 | 11.05 | 9.09 | 9.19 | 14.44 | 10.78 | 6.52 | — | 9.05 |
| P/OCF | 14.27 | 13.28 | 13.17 | 11.05 | 9.09 | 8.32 | 10.15 | 10.78 | 8.21 | 14.88 | 9.05 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 9.18 | 9.20 | 8.85 | 8.60 | 9.30 | 9.96 | 9.65 | 9.83 | 11.99 | 10.69 |
| EV / EBITDA | 16.53 | 15.77 | 15.17 | 14.15 | 12.71 | 13.59 | 14.33 | 9.10 | 9.99 | 12.54 | 10.97 |
| EV / EBIT | 28.25 | 26.35 | 26.64 | 44.49 | 184.50 | — | 24.90 | 18.63 | 14.27 | 19.65 | 20.46 |
| EV / FCF | — | 20.39 | 20.84 | 19.05 | 17.01 | 16.41 | 23.93 | 17.31 | 13.56 | — | 15.76 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 65.0% | 65.0% | 67.7% | 69.8% | 74.0% | 75.2% | 78.0% | 83.6% | 92.1% | 95.6% | 97.8% |
| Operating Margin | 34.1% | 34.1% | 36.5% | 34.2% | 37.6% | 37.0% | — | 79.0% | 49.2% | 55.3% | 61.8% |
| Net Profit Margin | 20.1% | 20.1% | 18.0% | 2.1% | -12.4% | -19.9% | 23.1% | 10.3% | 44.8% | 39.0% | 27.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 5.6% | 5.6% | 4.6% | 0.5% | -2.4% | -3.3% | 4.0% | 2.0% | 8.3% | 7.1% | 6.8% |
| ROA | 2.9% | 2.9% | 2.4% | 0.2% | -1.3% | -1.9% | 2.3% | 1.1% | 4.1% | 3.4% | 3.0% |
| ROIC | 3.8% | 3.8% | 3.7% | 3.1% | 3.1% | 2.8% | — | 6.4% | 3.6% | 4.0% | 5.2% |
| ROCE | 5.2% | 5.2% | 5.0% | 4.2% | 4.2% | 3.6% | — | 8.3% | 4.5% | 4.9% | 6.9% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.90 | 0.90 | 0.89 | 0.87 | 0.83 | 0.72 | 0.71 | 0.71 | 0.99 | 0.99 | 1.19 |
| Debt / EBITDA | 5.66 | 5.66 | 5.73 | 6.04 | 6.03 | 6.27 | 5.84 | 3.50 | 5.27 | 8.75 | 4.77 |
| Net Debt / Equity | — | 0.88 | 0.87 | 0.86 | 0.82 | 0.69 | 0.69 | 0.70 | 0.98 | 0.84 | 1.17 |
| Net Debt / EBITDA | 5.50 | 5.50 | 5.59 | 5.94 | 5.91 | 5.98 | 5.68 | 3.43 | 5.19 | 7.42 | 4.67 |
| Debt / FCF | — | 7.11 | 7.68 | 8.00 | 7.92 | 7.23 | 9.49 | 6.53 | 7.04 | — | 6.70 |
| Interest Coverage | 2.40 | 2.40 | 2.11 | 1.14 | 0.28 | -0.13 | 2.39 | 2.73 | 2.92 | 2.80 | 2.10 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.56 | 0.56 | 0.88 | 0.78 | 0.59 | 1.78 | — | — | 3.12 | 8.02 | 4.66 |
| Quick Ratio | 0.56 | 0.56 | 0.88 | 0.78 | 0.59 | 1.78 | — | — | 3.12 | 8.02 | 4.66 |
| Cash Ratio | 0.21 | 0.21 | 0.27 | 0.18 | 0.15 | 0.78 | — | — | 0.53 | 5.06 | 0.65 |
| Asset Turnover | — | 0.14 | 0.13 | 0.12 | 0.11 | 0.10 | 0.10 | 0.11 | 0.09 | 0.06 | 0.11 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 6.0% | 6.3% | 6.9% | 8.4% | 9.7% | 8.9% | 7.7% | 8.4% | 11.0% | 9.2% | 7.5% |
| Payout Ratio | 186.0% | 186.0% | 221.1% | 2016.9% | — | — | 201.1% | 486.2% | 116.5% | 115.0% | 169.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.2% | 3.4% | 3.1% | 0.4% | — | — | 3.9% | 1.7% | 9.5% | 7.5% | 3.8% |
| FCF Yield | 7.0% | 7.5% | 7.6% | 9.0% | 11.0% | 10.9% | 6.9% | 9.3% | 15.3% | — | 11.0% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.1% | 0.2% | 0.0% | 0.0% | 0.0% | 4.9% | 0.0% | 0.0% |
| Total Shareholder Yield | 6.0% | 6.3% | 6.9% | 8.4% | 9.8% | 8.9% | 7.7% | 8.4% | 15.9% | 9.2% | 7.5% |
| Shares Outstanding | — | $244M | $236M | $233M | $231M | $219M | $207M | $188M | $179M | $106M | $66M |
Operational margin volatility
According to the latest quarterly data, SBRA trades at a P/FFO of 10.89, which appears to reflect a persistent market discount compared to larger, more stabilized healthcare REIT peers, potentially ignoring the upside from its specialized behavioral health and managed senior housing portfolio segments.
The current valuation multiple suggests that investors remain cautious regarding the operational risks inherent in the company's hybrid business model. This discount may be unwarranted if the firm successfully navigates its joint venture overhangs and demonstrates sustained margin expansion in its SHOP segment.
As reported in financial statements, the NOI margin of 61.4% in 2026Q1 indicates that rising property-level operating expenses are increasingly weighing on profitability, suggesting that the company's managed portfolio requires significant scale to offset the inherent volatility of healthcare labor costs.
The contraction from the 69.5% margin observed in 2023Q4 highlights the difficulty of maintaining profitability in a high-acuity environment. Investors should monitor whether future revenue growth can outpace these rising operating costs to prevent further erosion of the core real estate yield.
Based on the provided financial figures, the FFO payout ratio of 80.5% in 2026Q1 demonstrates a moderate safety margin, though historical volatility—including periods exceeding 100%—suggests that dividend sustainability remains highly sensitive to the operational performance of the company's managed senior housing assets.
While the current payout appears more manageable than in previous quarters, the reliance on variable cash flows from the SHOP segment introduces a layer of uncertainty. A sustained improvement in occupancy and cost control is necessary to provide a more robust cushion for the dividend.
According to recent SEC filings, the debt-to-equity ratio improved to 0.45 in 2026Q1 from 0.90 in the prior year, indicating a significant shift toward a more conservative capital structure that may enhance the company's long-term financial flexibility in a high-interest-rate environment.
This reduction in leverage is a positive development, yet the company's limited cash reserves warrant continued scrutiny. The ability to maintain this lower debt profile while funding necessary capital expenditures will be a critical indicator of the firm's long-term financial health.
The most commonly misapplied metric for SBRA is the standard P/E ratio, which fails to account for the significant non-cash depreciation charges inherent in real estate ownership, thereby obscuring the company's true cash-generating capacity and leading to an inaccurate assessment of its valuation.
Analysts should prioritize P/FFO or P/AFFO to strip out these non-cash distortions and better reflect the REIT's actual economic performance. Relying on P/E ignores the fundamental reality that depreciation is an accounting convention rather than a reflection of the underlying asset's value decline.
Includes 30+ ratios · 16 years · Updated daily
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying SBRA stock.
Sabra Health Care REIT, Inc.'s current P/E ratio is 30.8x. The historical average is 32.7x. This places it at the 54th percentile of its historical range.
Sabra Health Care REIT, Inc.'s current EV/EBITDA is 16.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 13.2x.
Sabra Health Care REIT, Inc.'s return on equity (ROE) is 5.6%. The historical average is 4.5%.
Based on historical data, Sabra Health Care REIT, Inc. is trading at a P/E of 30.8x. This is at the 54th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Sabra Health Care REIT, Inc.'s current dividend yield is 6.00% with a payout ratio of 186.0%.
Sabra Health Care REIT, Inc. has 65.0% gross margin and 34.1% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Sabra Health Care REIT, Inc.'s Debt/EBITDA ratio is 5.7x, indicating high leverage. A ratio above 4x may signal elevated financial risk.