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CareTrust REIT cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$155M in Q3 2026 · $501M over twelve months

Operating cash flow$155M
Free cash flow+$155M
Cash / net income1.9×

Analysis

In Q3 2026, CareTrust REIT generated $155M of operating cash flow. That is $54.0M more than in Q3 2025 ($101M).

Over the twelve months to Sep 30, 2026, operating cash flow was $501M; the largest uses were other investing ($1.5B), real estate bought ($1.4B), dividends ($330M); besides operations, cash came from shares issued ($1.3B), net borrowing (+) / repaid (−) ($1.2B); the cash balance fell by $227M.

Operating cash flow was $155M against net income of $82.2M — 1.9× profit, cash ran ahead of reported earnings. The largest differences: payables +$43.8M, depreciation & amortization +$33.3M, prepaid and other assets −$10.7M.

Free cash flow

CareTrust REIT: free cash flow by quarterCareTrust REIT: free cash flow by quarter$75.2MQ4 2024$71.4MQ1 2025$101MQ2 2025$101MQ3 2025$121MQ4 2025$90.4MQ1 2026$135MQ2 2026$155MQ3 2026
Operating cash flow less capital spending.
CareTrust REIT: operating cash flow against capital spendingCareTrust REIT: operating cash flow against capital spendingOperating cash flowCapital spending$75.2M$0Q4 2024$71.4M$0Q1 2025$101M$0Q2 2025$101M$0Q3 2025$121M$0Q4 2025$90.4M$0Q1 2026$135M$0Q2 2026$155M$0Q3 2026
Latest (Q3 2026): Operating cash flow $155M, Capital spending $0.

Capital allocation, year by year

CareTrust REIT: where the cash came from (up) and went (down), by fiscal yearCareTrust REIT: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesDividendsFY2021: Operating cash flow $157MFY2021: Net borrowing $30.0MFY2021: Shares issued $22.9MFY2021: Asset sales $7.0MFY2021: Dividends −$101M$217MFY2021FY2022: Operating cash flow $144MFY2022: Net borrowing $45.0MFY2022: Shares issued $47.2MFY2022: Asset sales $45.1MFY2022: Dividends −$106M$282MFY2022FY2023: Operating cash flow $155MFY2023: Net borrowing −$125MFY2023: Shares issued $634MFY2023: Asset sales $16.3MFY2023: Dividends −$115M$806MFY2023FY2024: Operating cash flow $244MFY2024: Net borrowing −$200MFY2024: Shares issued $1.6BFY2024: Asset sales $13.9MFY2024: Dividends −$172M$1.8BFY2024FY2025: Operating cash flow $394MFY2025: Net borrowing $996MFY2025: Shares issued $1.1BFY2025: Asset sales $79.3MFY2025: Dividends −$259M$2.5BFY2025
Over these 5 years operating cash flow totalled $1.1B; the largest uses were dividends ($754M) and net borrowing ($325M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$480M
Debt$2.1B
Net debt$1.6B

CareTrust REIT funds itself: free cash flow was $501M over the last twelve months, and $480M of cash and investments stands against $2.1B of debt.

CareTrust REIT: debt maturities by year (FY2025)CareTrust REIT: debt maturities by year (FY2025)$400MYear 3$500MYear 5
Principal due in each year as disclosed in the annual report, against $480M of cash and investments now.

Where the cash came from and went

CareTrust REIT: sources (+) and uses (−) of cash, Q3 2026CareTrust REIT: sources (+) and uses (−) of cash, Q3 2026Net borrowing (+) / repaid (−)$865MShares issued$855MOther investing−$697MReal estate bought−$662MCash drawn (+) / kept (−)−$436MOperating cash flow$155MDividends−$92.2MPartners$17.7MExchange rates−$2.6MTaxes on employees’ shares−$2.3M
CareTrust REIT: sources (+) and uses (−) of cash, TTM to Q3 2026CareTrust REIT: sources (+) and uses (−) of cash, TTM to Q3 2026Other investing−$1.5BReal estate bought−$1.4BShares issued$1.3BNet borrowing (+) / repaid (−)$1.2BOperating cash flow$501MDividends−$330MCash drawn (+) / kept (−)$227MAsset & business sales$34.9MPartners$14.2MTaxes on employees’ shares−$12.8MExchange rates−$3.0M

From profit to cash

CareTrust REIT: net income to operating cash flow, Q3 2026CareTrust REIT: net income to operating cash flow, Q3 2026Net income$82.2MDepreciation & amortization$33.3MStock-based pay$2.9MOther non-cash$382KReceivables−$410KPayables$43.8MPrepaid and other assets−$10.7MOperating cash flow$155M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$155M−$92.2M$865M$855M−$436M$155M
Q2 2026$135M−$88.5M$660M$356M$174M$135M
Q1 2026$90.4M−$74.8M—$128M−$25.2M$90.4M
Q4 2025$121M−$74.8M—−$151K$514M$121M
Q3 2025$101M−$67.1M—$706M−$406M$101M
Q2 2025$101M−$63.1M$100M$350M$326M$101M
Q1 2025$71.4M−$54.4M$425M$15.6M−$419M$71.4M
Q4 2024$75.2M−$49.7M—$487M$163M$75.2M

CareTrust REIT: income statement and cash flow

CareTrust REIT, Q3 2026: revenue $176M (+33% year over year), operating margin 52.3%. The chart follows the revenue to costs, profit and cash.

CareTrust REIT: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.