Filing Flows › CareTrust REIT (CTRE) › Q4 2025
CareTrust REIT (CTRE) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 12, 2026
CareTrust REIT (CTRE) reported revenue of $135M for the fourth quarter 2025 (Q4 2025), +55% from a year earlier and +2% from the quarter before. Operating margin was 54.3%, net earnings $111M (82.5% of revenue).
CareTrust REIT, Q4 2025: revenue $135M (+55% year over year), operating margin 54.3%, net earnings $111M, operating cash flow $121M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $135M | +2% | +55% |
| Operating profit | $73.3M | -1% | +74% |
| Net earnings | $111M | +49% | +113% |
| Operating cash flow | $121M | +20% | +61% |
| Free cash flow | $116M | — | +63% |
What changed
Revenue was $134.9M in Q4 2025, up 55% year over year and up 2% from the previous quarter.
Operating profit was $73.3M, a 54.3% margin (up 5.8 points year over year). Of the extra revenue versus a year earlier, 65% reached operating profit, above the 49% margin then. Total costs grew 38% against revenue growth of 55%. The fastest-growing cost line was General & admin (+67%). Net earnings were $111.3M, up 113% year over year. The effective tax rate was 1.7%. Non-operating items added $40.9M, 36% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $121.0M (up 61% year over year), 108% of net earnings. Non-cash charges added back $27.1M of depreciation and amortization and $2.5M of share-based compensation. Working capital and other items used $20.9M. Capital expenditures of $5.0M left free cash flow of $116.0M.
Questions
What was CareTrust REIT's revenue in the fourth quarter 2025?
CareTrust REIT (CTRE) reported revenue of $135M for the fourth quarter 2025 (Q4 2025), +55% from a year earlier and +2% from the quarter before.
Was CareTrust REIT profitable in the fourth quarter 2025?
Operating profit was $73.3M (54.3% of revenue) and net earnings $111M.
Source: CareTrust REIT 10-K on SEC EDGAR.