Revenue growth remains inconsistent, fluctuating between a 2.0% contraction in 2026Q1 and a 9.5% expansion in 2025Q2, while gross margins remain highly sensitive to inflationary pressures, recently bottoming at -1.2% in 2025Q4.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'01 |
|---|
| Sales/Revenue | 3.11B | 3.12B | 2.98B | 2.87B | 2.74B | 2.75B | 3.02B | 4.06B | 3.52B | 3.86B | 4.24B | 4.24B | 3.34B | 2.55B | 2.44B | 2.46B | 2.21B | 2.02B | 1.93B | 1.84B | 1.31B | 213.05M | 660.87M | 222.58M | 123.94M |
| Revenue Growth % | 3.12% | 4.77% | 4.02% | 4.46% | -0.04% | -9.17% | -25.48% | 15.22% | -8.68% | -9.04% | 0.05% | 26.73% | 31.32% | 4.19% | -0.58% | 11.05% | 9.4% | 4.93% | 4.83% | 40.41% | 514.85% | -67.76% | 196.91% | 79.6% | - |
| Cost of Goods Sold | 2.66B | 2.48B | 2.18B | 2.12B | 2.23B | 2.26B | 2.32B | 3.18B | 2.45B | 2.6B | 2.8B | 2.79B | 2.21B | 1.67B | 1.63B | 1.51B | 1.44B | 1.3B | 1.26B | 1.17B | 819.8M | 493.89M | 769.66M | 0 | 0 |
| COGS % of Revenue | - | 79.36% | 72.93% | 74.03% | 81.28% | 82.21% | 76.83% | 78.39% | 69.67% | 67.48% | 66.03% | 65.82% | 66.11% | 65.67% | 66.74% | 61.38% | 64.97% | 64.37% | 65.18% | 63.66% | 62.58% | 231.82% | 116.46% | - | - |
| Gross Profit | 445.33M | 645.02M | 807.43M | 744.71M | 513.94M | 488.58M | 700.64M | 876.54M | 1.07B | 1.25B | 1.44B | 1.45B | 1.13B | 874.21M | 812.8M | 949.35M | 775.33M | 720.79M | 671.27M | 668.36M | 490.11M | 296.69M | 660.87M | 222.58M | 123.94M |
| Gross Margin % | 14.32% | 20.64% | 27.07% | 25.97% | 18.72% | 17.79% | 23.18% | 21.61% | 30.33% | 32.52% | 33.97% | 34.18% | 33.89% | 34.33% | 33.26% | 38.62% | 35.03% | 35.63% | 34.82% | 36.34% | 37.42% | 139.26% | 100% | 100% | 100% |
| Gross Profit Growth % | - | -20.11% | 8.42% | 44.9% | 5.19% | -30.27% | -20.07% | -17.92% | -14.83% | -12.93% | -0.58% | 27.82% | 29.62% | 7.56% | -14.38% | 22.44% | 7.57% | 7.38% | 0.44% | 36.37% | 65.19% | -55.11% | 196.91% | 79.6% | - |
| Operating Expenses | 402.58M | 627.86M | 760.9M | 726.3M | 556.63M | 705.52M | 798.33M | 921.04M | 1.66B | 1.52B | 1.47B | 1.61B | 1.22B | 742.92M | 734.98M | 844.26M | 696.26M | 680.94M | 911.42M | 709.57M | 534.8M | 320.92M | 611.11M | 202.34M | 124.23M |
| OpEx % of Revenue | - | 20.09% | 25.51% | 25.33% | 20.28% | 25.69% | 26.41% | 22.7% | 47.2% | 39.52% | 34.7% | 38.08% | 36.43% | 29.18% | 30.08% | 34.35% | 31.46% | 33.66% | 47.27% | 38.58% | 40.83% | 150.63% | 92.47% | 90.91% | 100.24% |
| Selling, General & Admin | 248.75M | 349.89M | 386.63M | 384.52M | 333.89M | 359.27M | 449.85M | 488.95M | 562.77M | 617.74M | 636.84M | 629.61M | 524.65M | 446.78M | 439.35M | 423.19M | 402.61M | 406.96M | 415.19M | 409.64M | 346.68M | 271.04M | 43.64M | 16M | 12.14M |
| SG&A % of Revenue | - | 11.2% | 12.96% | 13.41% | 12.16% | 13.08% | 14.88% | 12.05% | 15.98% | 16.02% | 15.02% | 14.86% | 15.69% | 17.55% | 17.98% | 17.22% | 18.19% | 20.12% | 21.53% | 22.27% | 26.47% | 127.22% | 6.6% | 7.19% | 9.79% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | 277.97M | 374.27M | 341.78M | 222.74M | 346.25M | 348.48M | 432.09M | 1.1B | 906.13M | 834.22M | 984.05M | 693.43M | 296.15M | 0 | 421.07M | 293.65M | 273.98M | 496.23M | 299.93M | 188.13M | 49.88M | 567.47M | 186.34M | 112.09M |
| Operating Income | 42.75M | 17.17M | 46.53M | 18.41M | -42.69M | -216.94M | -97.69M | -44.5M | -594.25M | -270.05M | -31.08M | -165.21M | -84.91M | 131.29M | 121.17M | 90.18M | 79.07M | 39.85M | -240.14M | -22.21M | -44.69M | 49.76M | -37.64M | 20.24M | -298K |
| Operating Margin % | 1.37% | 0.55% | 1.56% | 0.64% | -1.56% | -7.9% | -3.23% | -1.1% | -16.88% | -7% | -0.73% | -3.9% | -2.54% | 5.16% | 4.96% | 3.67% | 3.57% | 1.97% | -12.46% | -1.21% | -3.41% | 23.36% | -5.7% | 9.1% | -0.24% |
| Operating Income Growth % | - | -63.1% | 152.7% | 143.13% | 80.32% | -122.06% | -119.54% | 92.51% | -120.06% | -768.79% | 81.19% | -94.58% | -164.67% | 8.35% | 34.36% | 14.05% | 98.4% | 116.6% | -981.38% | 50.31% | -189.82% | 232.19% | -285.94% | 6893.29% | - |
| EBITDA | 384.48M | 376.41M | 404.32M | 361.12M | 311.2M | 127.97M | 261.53M | 339.2M | -146.79M | 212.03M | 489.32M | 560.8M | 448.69M | 400.05M | 373.45M | 358.69M | 380.37M | 311.79M | 36.06M | 284.78M | 148.5M | 68.78M | 41.85M | 42.72M | 10.93M |
| EBITDA Margin % | 12.36% | 12.05% | 13.56% | 12.59% | 11.34% | 4.66% | 8.65% | 8.36% | -4.17% | 5.5% | 11.54% | 13.23% | 13.42% | 15.71% | 15.28% | 14.59% | 17.19% | 15.41% | 1.87% | 15.48% | 11.34% | 32.28% | 6.33% | 19.19% | 8.82% |
| EBITDA Growth % | -8.35% | -6.9% | 11.96% | 16.04% | 143.18% | -51.07% | -22.9% | 331.08% | -169.23% | -56.67% | -12.75% | 24.99% | 12.16% | 7.12% | 4.12% | -5.7% | 22% | 764.66% | -87.34% | 91.78% | 115.9% | 64.33% | -2.03% | 290.82% | - |
| D&A (Non-Cash Add-back) | 341.73M | 359.24M | 357.79M | 342.71M | 353.89M | 344.91M | 359.23M | 383.7M | 447.45M | 482.08M | 520.4M | 726.01M | 533.59M | 268.76M | 252.28M | 268.51M | 301.3M | 271.94M | 276.2M | 306.99M | 193.19M | 19.02M | 79.5M | 22.48M | 11.23M |
| EBIT | 47.34M | -11.59M | 63.02M | 26.58M | -33.97M | 80.16M | -102.54M | -22.42M | 57.65M | 154.01M | 282.74M | 85.68M | 71.49M | 158.68M | 121.17M | 119.48M | 65.39M | 29.69M | 8.98M | -22.21M | -26.59M | -9.26M | -37.64M | 20.24M | -298K |
| Net Interest Income | -241.86M | -240.73M | -224.12M | -208.58M | -199M | -186.34M | -203.98M | -238.48M | -270.42M | -321.53M | -382.68M | -387.16M | -246.84M | -136.06M | -142.77M | 3.54M | -143.48M | 2.35M | -217.62M | 7.52M | 6.81M | 1.59M | 2.15M | 0 | 0 |
| Interest Income | 11.85M | 12.38M | 19.16M | 23.15M | 6.93M | 1.35M | 4.8M | 9.86M | 9.85M | 4.62M | 2.93M | 1.6M | 1.34M | 1.34M | 4.01M | 3.54M | 2.24M | 2.35M | 7.62M | 7.52M | 6.81M | 637K | 2.15M | 0 | 0 |
| Interest Expense | 253.71M | 253.11M | 243.29M | 231.72M | 205.93M | 187.69M | 208.78M | 248.34M | 280.27M | 326.15M | 385.62M | 388.76M | 248.19M | 137.4M | 146.78M | 0 | 145.72M | 0 | 225.24M | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | -249.11M | -281.86M | -243.88M | -198.7M | -197.21M | 109.41M | 184.99M | -226.26M | 16.44M | -318.08M | -368.18M | -385.16M | -245.83M | -133.12M | -186.12M | -156.01M | -159.4M | -139.03M | -444.65M | -222.43M | -101.21M | -2.91M | -59.81M | -22.75M | 10.99M |
| Pretax Income | -206.36M | -264.7M | -197.35M | -180.29M | -239.9M | -107.53M | 87.3M | -270.76M | -577.81M | -588.12M | -399.26M | -550.36M | -330.73M | -1.83M | -64.95M | -65.83M | -80.33M | -99.18M | -459.97M | -263.63M | -145.91M | -67.53M | -10.06M | -2.51M | 10.69M |
| Pretax Margin % | -6.64% | -8.47% | -6.62% | -6.29% | -8.74% | -3.92% | 2.89% | -6.67% | -16.41% | -15.25% | -9.42% | -12.99% | -9.89% | -0.07% | -2.66% | -2.68% | -3.63% | -4.9% | -23.86% | -14.33% | -11.14% | -31.7% | -1.52% | -1.13% | 8.63% |
| Income Tax | -1.7M | -1.95M | 4.65M | 8.78M | -1.56M | -8.16M | 5.35M | -2.27M | -49.46M | -16.52M | 5.38M | -92.21M | -181.31M | 1.76M | 2.04M | 2.34M | -31.43M | -32.93M | -86.73M | -101.26M | -38.49M | 150K | 3.92M | 139K | 4.5M |
| Effective Tax Rate % | 0.83% | 0.74% | -2.35% | -4.87% | 0.65% | 7.59% | 6.13% | 0.84% | 8.56% | 2.81% | -1.35% | 16.75% | 54.82% | -96.06% | -3.15% | -3.55% | 39.13% | 33.2% | 18.86% | 38.41% | 26.38% | -0.22% | -38.99% | -5.54% | 42.12% |
| Net Income | -204.6M | -262.69M | -201.94M | -189.01M | -238.43M | -99.29M | 82.02M | -267.93M | -528.26M | -571.42M | -404.4M | -457.48M | -148.99M | -3.58M | -65.64M | -68.17M | -48.9M | -66.25M | -373.24M | -161.98M | -108.09M | -67.43M | -9.79M | -8.96M | 3.41M |
| Net Margin % | -6.58% | -8.41% | -6.77% | -6.59% | -8.69% | -3.62% | 2.71% | -6.6% | -15% | -14.82% | -9.54% | -10.8% | -4.46% | -0.14% | -2.69% | -2.77% | -2.21% | -3.28% | -19.36% | -8.81% | -8.25% | -31.65% | -1.48% | -4.03% | 2.75% |
| Net Income Growth % | 13.8% | -30.09% | -6.84% | 20.73% | -140.13% | -221.06% | 130.61% | 49.28% | 7.55% | -41.3% | 11.6% | -207.05% | -4057.09% | 94.54% | 3.71% | -39.41% | 26.19% | 82.25% | -130.43% | -49.86% | -60.29% | -588.51% | -9.27% | -362.92% | - |
| Net Income (Continuing) | -204.66M | -262.75M | -201.99M | -189.07M | -238.34M | -99.36M | 81.94M | -268.49M | -528.35M | -571.61M | -404.64M | -458.15M | -149.43M | -3.58M | -65.64M | -68.17M | -48.9M | -66.25M | -373.24M | -161.98M | -107.42M | -24.46M | -9.43M | -1.36M | 3.41M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -11.73M | 0 | 0 |
| Minority Interest | 1.36M | 1.38M | 1.43M | 1.49M | 1.55M | 2.22M | 2.29M | 2.37M | -490K | -437K | -250K | -161K | 517K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4.6M | 36K | 31.4M | 155.58M | 0 |
| EPS (Diluted) | -0.86 | -1.11 | -0.89 | -0.84 | -1.25 | -0.54 | 0.44 | -1.44 | -2.82 | -3.07 | -2.18 | -2.48 | -1.01 | -0.03 | -0.54 | -0.56 | -0.41 | -0.60 | -3.67 | -1.60 | -1.34 | -1.11 | -0.51 | -0.15 | 0.06 |
| EPS Growth % | 17.41% | -24.72% | -5.95% | 32.8% | -131.48% | -222.73% | 130.56% | 48.94% | 8.14% | -40.83% | 12.1% | -145.54% | -3382.76% | 94.63% | 3.57% | -36.59% | 31.67% | 83.65% | -129.38% | -19.4% | -20.72% | -117.65% | -240% | -367.86% | - |
| EPS (Basic) | - | -1.11 | -0.89 | -0.84 | -1.25 | -0.54 | 0.45 | -1.44 | -2.82 | -3.07 | -2.18 | -2.48 | -1.01 | -0.03 | -0.54 | -0.56 | -0.41 | -0.60 | -3.67 | -1.60 | -1.34 | -1.79 | -0.51 | -0.15 | 0.06 |
| Diluted Shares Outstanding | 238.11M | 234.33M | 227.53M | 225.21M | 190.46M | 184.97M | 184.39M | 185.91M | 187.47M | 186.16M | 185.65M | 184.33M | 148.19M | 123.67M | 121.99M | 121.16M | 120.01M | 111.29M | 101.67M | 101.51M | 80.84M | 60.88M | 19.2M | 60.88M | 60.88M |
| Basic Shares Outstanding | 238.11M | 234.33M | 227.53M | 225.21M | 190.46M | 184.97M | 183.5M | 185.91M | 187.33M | 186.16M | 185.65M | 184.33M | 148.19M | 123.67M | 121.99M | 121.16M | 120.01M | 111.29M | 101.67M | 101.51M | 80.84M | 37.64M | 19.2M | 60.88M | 60.88M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Persistent labor cost inflation
According to recent financial disclosures, Brookdale's revenue growth has remained inconsistent, fluctuating between a 2.0% contraction in 2026Q1 and a 9.5% expansion in 2025Q2, suggesting that the company struggles to maintain a stable top-line trajectory amidst a highly competitive and sensitive senior housing market environment.
The volatility in quarterly revenue growth indicates that Brookdale is highly susceptible to external demand shocks and potential challenges in resident acquisition. Investors should monitor whether the recent contraction in 2026Q1 represents a structural shift in demand or merely a temporary lull in move-in activity.
As reported in quarterly income statements, Brookdale's gross margin experienced significant compression, plummeting to -1.2% in 2025Q4 before recovering to 3.3% in 2026Q1, which highlights the extreme sensitivity of the company's cost structure to inflationary pressures and the difficulty of maintaining pricing power in the current climate.
The dramatic swings in gross margin suggest that the company lacks the pricing power to fully offset rising operational costs, particularly labor and facility maintenance. This instability implies that profitability is highly vulnerable to even minor fluctuations in occupancy or unexpected spikes in operating expenses.
Based on the provided income statement data, Brookdale has failed to demonstrate consistent operating leverage, as evidenced by the erratic operating income figures that swung from a $55.2M gain in 2026Q1 to a $53.8M loss in 2025Q3, reflecting a lack of scalability in the current business model.
The inability to consistently scale operating income relative to revenue suggests that corporate overhead and fixed lease obligations continue to weigh heavily on the bottom line. Without a more efficient cost structure, the company may remain trapped in a cycle where revenue gains are immediately consumed by rising operating expenses.
As indicated by the company's financial filings, Brookdale has reported consistent net losses over the last ten quarters, with a net margin of -0.9% in 2026Q1, suggesting that the quality of earnings is severely compromised by ongoing operational inefficiencies and high non-operating costs like interest and rent.
The recurring net losses, despite significant revenue generation, warrant further investigation into the sustainability of the company's capital structure. Investors should be wary of the disconnect between top-line performance and the company's inability to achieve bottom-line profitability, which may indicate deeper structural issues within the business model.
Quick answers to the most common questions about buying BKD stock.
For fiscal year 2025, Brookdale Senior Living Inc. (BKD) reported total revenue of $3.12B. This represents a 2421.4% increase compared to $123.9M in 2001.
Brookdale Senior Living Inc. (BKD) reported a net loss of $262.7M for the fiscal year ending 2025.
Brookdale Senior Living Inc. (BKD) reported an operating income of $17.2M, resulting in an operating profit margin of 0.5%. This margin reflects the operational efficiency of the business before interest and taxes.
Brookdale Senior Living Inc. (BKD) generated $645.0M in gross profit for the year, representing a gross profit margin of 20.6%. This demonstrates the company's core pricing power and production efficiency.