Q3 2026 Revenue up 33% year over year to $176M · 47¢ of every $1 of revenue kept as net profit · operating margin 52.3%
CareTrust REIT made $176M in Q3 2026 (+33% Y/Y). Operating margin 52.3%, net earnings $83.7M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.
Revenue$176M
Year over year+33%
Operating margin52.3%
Net earnings$83.7M
Operating cash flow$155M
Drawing the Sankey…
Open the interactive Sankey →click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $176.4M in Q3 2026, up 33% year over year and up 9% from the previous quarter.
Operating profit was $92.2M, a 52.3% margin (down 3.6 points year over year). Of the extra revenue versus Q3 2025, 41% reached operating profit, below the 56% margin then. Total costs grew 44% against revenue growth of 33%. The fastest-growing cost line was Other operating costs (+60%). Net earnings were $83.7M, up 12% year over year ($82.2M including minority interests, which bore $1.5M of losses). The effective tax rate was 3.4%.
Operating cash flow was $154.9M (up 53% year over year), 188% of net earnings. Non-cash charges added back $33.3M of depreciation and amortization and $2.9M of share-based compensation. Working capital and other items added $36.5M. Capital expenditures of $3.5M left free cash flow of $151.4M.
Quarterly history
Quarter
Form
Filed
Revenue
Y/Y
Op. margin
Net earnings
Op. cash flow
Q3 2026
10-Q
Nov 5, 2026
$176M
+33%
52.3%
$83.7M
$155M
Q2 2026
10-Q
Aug 6, 2026
$161M
+44%
55.1%
$89.0M
$135M
Q1 2026
10-Q
May 7, 2026
$143M
+48%
57.2%
$80.2M
$90.4M
Q4 2025
10-K
Feb 12, 2026
$135M
+55%
54.3%
$111M
$121M
Q3 2025
10-Q
Nov 5, 2025
$132M
+71%
55.9%
$74.9M
$101M
Q2 2025
10-Q
Aug 6, 2025
$112M
+63%
55.6%
$68.5M
$101M
Q1 2025
10-Q
May 1, 2025
$96.6M
+53%
62.1%
$65.8M
$71.4M
Charts
Latest (Q3 2026): Y/Y +33%, Q/Q +9%.From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.Latest (Q3 2026): Net income $82.2M, Operating cash flow $155M.+114.4% since FY2020: more shares outstanding (issuance, stock pay).Cash $198M, short-term investments —, long-term debt $894M at 2025-12-31.Real Estate Investment Trusts; dot size is quarterly revenue; dashed lines are the industry's medians.
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
CareTrust REIT is a self-administered, publicly-traded REIT engaged in the ownership, acquisition, financing, development and leasing of skilled nursing, senior housing and other healthcare-related properties. As of December 31, 2025, CareTrust REIT owned, directly or indirectly in consolidated joint ventures, and leased to independent operators, 407 skilled nursing facilities (each, a “SNF”), senior housing communities and other properties consisting of 37,628 operational beds and units located in 32 states and the United Kingdom (the “U.K.”), with the highest concentration of properties by rental income located in California, the U.K., Texas, and Tennessee.
In its own words, from its 10-K, filed Feb 12, 2026.
CareTrust REIT against its Real Estate Investment Trusts peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +33% against the peers' median +14%. Operating margin: 52.3% against the peers' median 20.6%.