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Our Business We are the nation's premier operator of senior living communities, operating and managing 584 communities in 41 states as of December 31, 2025, with the ability to serve approximately 51,000 residents. We offer our residents access to a broad continuum of services across the most attractive sectors of the senior living industry.
Operating margin is thin at 0.42%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue growth slowed to 2.2%, essentially flat. Margins also contracted 1.1pp. This is a business that needs a catalyst.
Net debt of $5.24B represents 317.3x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$3.15B
▲ +2.2% YoY
Net Income (TTM)
-$205M
▼ -30.1% YoY
Op. Margin
1.14%
▼ -1.1pp YoY
ROIC
0.51%
▼ -0.6pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$9M
▲ +147.1% YoY
Op. Cash Flow (TTM)
$216M
▲ +31.2% YoY
Net Debt
$5.24B
Cash & Equiv.
$270M
5Y CAGR: -2.0%
5Y CAGR: -3.6%
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