Latest Ratios: P/E Ratio 76.4x · EV/EBITDA 21.5x · 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 | $5.3B | $4.6B | $4.1B | $3.3B | $2.9B | $3.0B | $3.6B | $4.0B | $2.9B | $2.0B | $1.6B |
| Enterprise Value | $7.8B | $7.1B | $6.5B | $5.7B | $5.4B | $5.3B | $6.0B | $6.4B | $6.1B | $4.9B | $2.8B |
| P/E Ratio → | 76.38 | 29.59 | 32.07 | 241.46 | — | — | 25.93 | 57.68 | 10.56 | 13.41 | 26.54 |
| P/S Ratio | 5.77 | 5.98 | 5.81 | 5.13 | 4.59 | 5.21 | 6.01 | 6.01 | 4.72 | 4.90 | 6.14 |
| P/B Ratio | 1.82 | 1.64 | 1.49 | 1.19 | 0.94 | 0.88 | 1.06 | 1.15 | 0.90 | 0.58 | 1.58 |
| P/FCF | 14.74 | 13.28 | 13.17 | 11.05 | 9.09 | 9.19 | 14.44 | 10.78 | 6.52 | — | 9.05 |
| P/OCF | 15.21 | 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 | 21.52 | 15.77 | 15.17 | 14.15 | 12.71 | 13.59 | 14.33 | 9.09 | 12.30 | 14.37 | 12.14 |
| EV / EBIT | 29.48 | 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 | 6.49 | 10.03 | 5.28 |
| 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 | 6.38 | 8.50 | 5.17 |
| 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 | 5.6% | 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 | 1.3% | 3.4% | 3.1% | 0.4% | — | — | 3.9% | 1.7% | 9.5% | 7.5% | 3.8% |
| FCF Yield | 6.8% | 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 | 5.6% | 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 |
Includes 30+ ratios · 16 years · Updated daily
Live VCP patterns, Cup & Handle overlays, support/resistance, and AI trade plans.
High-probability breakout stocks crossing their pivot across 5 pattern engines.
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
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 76.4x. The historical average is 32.7x. This places it at the 100th percentile of its historical range.
Sabra Health Care REIT, Inc.'s current EV/EBITDA is 21.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 13.5x.
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 76.4x. This is at the 100th 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 5.63% 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.
Key Metrics
Top Statement Risk
Thin liquidity against dividend obligations
Metrics are mathematically derived from official filings.
Headline Multiples Mask Missing REIT Metrics
Based on SBRA's reported figures, the 32.64 trailing P/E and 17.18 EV/EBITDA are standard multiples that poorly fit a REIT, while P/FFO and P/AFFO are unavailable in the supplied data, leaving the 5.7% dividend yield at $20.89 as the most usable valuation anchor.
A 32.64 P/E is inflated by depreciation and non-cash items, as the quarterly FFO swings from $0.12 to $0.45 per share make clear, so it should not be read as an earnings-based premium. The derived quarterly P/FFO near 10.9x sits well below the 17x to 24x trailing P/E range of healthcare peers, which suggests the market is pricing SBRA's distributable earnings at a discount even though those earnings are volatile. Investors should treat the implied cap rate and P/FFO as the relevant valuation lens and monitor whether AFFO stabilizes before assigning a diversified-healthcare multiple.
NOI Margin Compression Tracks Managed Mix Shift
As reported in SBRA's quarterly ratio data, NOI margin fell from 68.9% in 2024Q2 to 58.7% in 2026Q3, a roughly ten-point compression that coincides with growth in the lower-margin managed senior housing segment.
The compression appears structural rather than cyclical, since NOI margin has declined steadily across most of the ten quarters and reflects a blend that increasingly carries direct operating costs. Net return on equity has stayed near 1% with a -0.9% reading in 2026Q2, indicating that depreciation and joint venture drag absorb much of the operating improvement. Investors should monitor whether same-store managed NOI growth can offset the margin dilution from the managed portfolio.
FFO Payout Ratio Oscillates Near Full Distribution
According to reported quarterly figures, the FFO payout ratio swung from 2.4% in 2026Q2 to 105.8% in 2024Q2, with the latest 2026Q3 reading at 82.1%, leaving little consistent retained cash flow beneath the 5.7% yield.
Payout ratios above 95% in several quarters suggest the dividend has been funded close to or above distributable earnings, leaving limited margin for error if FFO softens. The AFFO-based coverage in 2026Q2 of roughly $6.0M against about $76M of dividends paid is the clearest warning sign in the data and implies reliance on balance sheet or external funding in weak quarters. Investors should watch whether quarterly AFFO can sustain coverage above one times on a trailing basis before treating the yield as secure.
Debt-to-Equity Figure Warrants Reconciliation
Based on SBRA's reported figures, the debt-to-equity ratio held between 0.86 and 0.97 across ten quarters, while interest coverage ranged from 0.17x to 3.40x, a volatility that signals fragile debt service capacity in weaker periods.
The 0.90% debt-to-equity figure cited in recent commentary does not reconcile with the 0.86 to 0.97 range in the ratio series, which suggests a unit or reporting inconsistency that should be verified against SEC filings before drawing a leverage conclusion. Interest coverage dropping to 0.17x in 2026Q2 implies that quarterly operating earnings did not cover interest in that period, a pressure point the one-quarter recovery to 1.98x does not fully resolve. Investors should monitor debt maturity and refinancing terms, since coverage this uneven leaves limited room for higher rates.
Lower Leverage and Higher Yields Versus Peers
Compared with the peer set, SBRA's 5.7% dividend yield exceeds Welltower's 1.1% and Ventas's 2.1%, but its 0.86 debt-to-equity and roughly 1% ROE trail the stronger returns of OHI at 13.7% and LTC at 37.3%, while CareTrust carries far lower leverage at 0.22.
SBRA's trailing ROE of roughly 1% lags OHI at 13.7% and LTC at 37.3%, and its net margin profile does not approach the 45% to 67% achieved by OHI, LTC and CareTrust, pointing to weaker conversion of revenue into shareholder returns. The yield premium relative to Welltower and Ventas appears to reflect the market pricing SBRA's complexity discount and earnings volatility rather than a valuation gap alone. Investors should assess whether SBRA's managed senior housing growth can close the profitability gap with its SNF-focused peers.
P/E Misapplication Obscures Distributable Earnings
Based on SBRA's reported figures, the 32.64 trailing P/E is the ratio most often misapplied to this REIT, since depreciation and non-cash charges distort net income far more than they distort FFO or AFFO per share.
Standard P/E treats depreciation as an economic cost, which understates distributable cash for a real estate owner and makes the multiple look expensive despite a 10.9x quarterly P/FFO. The more defensible approach is to anchor valuation on P/FFO, P/AFFO and implied cap rate, adjusting for maintenance capex, which the volatile quarterly CapEx line of $25.2M and $15.9M shows is material. Investors should treat any P/E-based comparison to healthcare peers as directional only until AFFO history is available across more quarters.