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CareTrust REIT

CTRE
68
REIT - Healthcare Facilities · Real Estate
Price
$42.88
+0.91 (+2.17%)
Market Cap
$10.13B
Exchange
New York Stock Exchange
Winston Score
68
Winston is curious
A decent business — some strong pillars, some weaker.

Share count rising — dilution

+112.4% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 96.1M (2021) → 204.1M (2025)

CareTrust REIT is a real estate company that owns buildings where people receive healthcare. Its properties include skilled nursing facilities, assisted living communities, and other senior care centers. The company does not run these facilities itself — instead, it rents them to healthcare operators across the United States.

CareTrust makes money by collecting rent from the operators who lease its properties, a model common to all REITs. It operates primarily in the U.S. and has grown its portfolio to roughly 600 properties, making it a mid-sized player in the healthcare real estate space. Its competitive edge comes from long-term leases and the steady demand for senior care driven by an aging U.S. population, though the business faces real risk from tenant financial stress — if operators struggle to pay rent, CareTrust's income can be directly affected.

Winston Score History

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+99.3% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+2.9% YoY

YoY Growth Rate

Slow EPS growth

R&D Spend

$0/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Insider Activity

0.8%ownership

Relatively low insider ownership

Cash Position

Cash flow positive

$4.1B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

CareTrust REIT grew revenue 99% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin
56.9%
Premium pricing power — 56.9% gross margin
Operating Margin
65.1%
Excellent — 65.1% operating margin
ROCE
1.9%
Weak — 1.9% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY
+90.0%
Fast-growing sales (90.0% YoY)
EPS YoY
+70.0%
Earnings growing fast (70.0% YoY)

Earnings growing 25%+ a year. The compounder zone.

EPS Consistency
8/8 quarters
Every recent quarter grew earnings vs last year

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Cash Flow

Cash Conversion
123%
Turns 123% of profit into real cash
FCF Margin
84.8%
Converts sales into free cash efficiently (84.8%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

Debt / Equity
0.22
Conservative — low debt load (0.22)
Interest Cover
5.97x
Adequate interest coverage (6.0x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

P/E Ratio (TTM)
27.3x
Growth-priced — P/E 27.3

P/E above the market average. People are paying up for expected growth.

P/E vs Forward
+1.3
GROWING
Earnings expected to grow — slightly cheaper on forward P/E

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Dividends

Dividend Yield
3.47%
Moderate income — 3.47% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend Growth
+16.0%
Dividend growing fast (16.0% YoY)

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