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We are a leading post-acute healthcare company primarily focused on delivering high-quality skilled nursing care through a portfolio of independently operated facilities. Founded in 2013, we are one of the largest skilled nursing providers in the United States based on number of facilities.
Operating margin is thin at 5.85%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue up 29.3% YoY with margins expanding 2.8pp.
Net debt of $3.30B represents 11.0x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$5.43B
▲ +29.3% YoY
Net Income (TTM)
$244M
▲ +243.5% YoY
Op. Margin
7.02%
▲ +2.8pp YoY
ROIC
6.08%
▲ +2.7pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$381M
▼ -0.7% YoY
Op. Cash Flow (TTM)
$490M
▲ +10.0% YoY
Net Debt
$3.21B
Cash & Equiv.
$248M
3Y CAGR: +29.7%
3Y CAGR: +62.4%
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