Sonida Senior Living, Inc. (SNDA) Market Cap
Sonida Senior Living, Inc. has a market capitalization of $629.2M.
Financials based on reported quarter end 2025-12-31
Price: $34.78
▲ 0.70 (2.07%)
Market Cap: 629.17M
NYSE · time unavailable
CEO: Brandon Ribar
Sector: Healthcare
Industry: Medical - Care Facilities
IPO Date: 1997-10-31
Website: https://www.sonidaseniorliving.com
Sonida Senior Living, Inc. (SNDA) - Company Information
Market Cap: 629.17M · Sector: Healthcare
Sonida Senior Living, Inc. develops, owns, operates, and manages senior housing communities in the United States. The company provides independent living services, which include daily meals, transportation, social and recreational activities, laundry, housekeeping, and 24-hour staffing; and access to health screenings, periodic special services, and dietary and similar programs, as well as exercise and fitness classes. It also offers assisted living services consist of personal care services, such as assistance with activities of daily living, including ambulation, bathing, dressing, eating, grooming, personal hygiene, and monitoring or assistance with medications; support services, such as meals, assistance with social and recreational activities, laundry, general housekeeping, maintenance, and transportation services; and supplemental services, which include extra transportation, personal maintenance, and extra laundry services, as well as special care services for residents with various forms of dementia. In addition, the company provides memory care services; and home care services through third-party providers. As of December 31, 2021, it operated 75 senior housing communities in 18 states with an aggregate capacity of approximately 9,500 residents, including 60 senior housing communities. The company was formerly known as Capital Senior Living Corporation and changed its name to Sonida Senior Living, Inc. in November 2021. Sonida Senior Living, Inc. was founded in 1990 and is based in Addison, Texas.
Analyst Sentiment
Based on 2 ratings
Analyst 1Y Forecast: $34.00
Average target (based on 2 sources)
Consensus Price Target
Low
$28
Median
$35
High
$39
Average
$34
Downside: -2.3%
Price & Moving Averages
Related Companies in Healthcare
Fundamentals Overview
📊 AI Financial Analysis
Powered by StockMarketInfo"Sunda Inc. (SNDA) reported revenue of $97.66M for the fiscal year ending December 31, 2025. The company experienced a net loss of $30.15M, leading to a negative earnings per share (EPS) of -$1.72. The balance sheet reflects total assets of $844.85M, with total liabilities of $788.59M, suggesting a leveraged position with total equity of $56.26M. Cash flow from operations stands at -$400k, indicating ongoing challenges in generating positive cash flow, while free cash flow reached -$9.31M. Despite these financial hurdles, SNDA's market performance shows promise with a 1-year price change of 34.04%, outperforming many peers. The stock price currently stands at $31.54, close to its consensus target of $31.5. This reflects positive market sentiment, despite fundamental challenges in profitability and cash flow management."
Revenue Growth
Revenue growth is moderate, though profitability remains an issue.
Profitability
Negative net income and EPS reflect ongoing losses.
Cash Flow Quality
Operating and free cash flow are negative, indicating cash flow problems.
Leverage & Balance Sheet
High total liabilities indicate significant leverage, but total equity covers some risk.
Shareholder Returns
Strong price appreciation over the year suggests favorable market conditions.
Analyst Sentiment & Valuation
Analyst consensus shows a generally optimistic view on stock performance.
Disclaimer:This analysis is AI-generated for informational purposes only. Accuracy is not guaranteed and this does not constitute financial advice.
So What?: Sonida closed the CHP merger ($1.8B) and is pitching 2026 as an “accelerated” integration year, backed by hard operating KPIs: full-year 2025 net operating income +22% and adjusted EBITDA +28%, plus acquisition-cohort NOI margin expansion of +550 bps to 24.7%. On labor, management claims structural fixes are working (total labor ex benefits -40 bps QoQ; hours/occupancy -2%). However, the Q&A revealed the main risk is comparability and execution around the redefined portfolio. When an analyst highlighted a “big delta” between a ~6.5% reported Q4 NOI/comps figure and the company’s 16%+ pro forma same-store bucket, management would not quantify normalized FFO/peer-relative expectations yet—only called it a “jumping-off point” pending Q1/Q2 normalized reporting. Dispositions also lack clarity beyond intent: ~$10% by community count likely in 6–12 months, with proceeds first to delever and then recycle.
Growth Catalysts
- 19 communities acquired in 2024: sequential occupancy +290 bps (Q3 to Q4); total occupancy +820 bps YoY; NOI margin expansion 21% to 28%; NOI margin expanding 550 bps (19.2% to 24.7%) in the acquisition portfolio
- Same store portfolio momentum: sequential occupancy gains +20 bps in Q4; Q3 occupancy +90 bps into year-end
- Post-merger early 2026 momentum: labor model/restructuring trends continuing into 2026; management expects YoY and sequential improvement in Q1
Business Development
- Completed acquisition/merger of CNL Healthcare Properties (CHP) for total consideration of $1.8 billion; more than 95% shareholder vote support
- Operator/asset integration focus on CHP’s operator base; mentions “strategic relationships with select new managers” (no names provided)
- Blue-chip bank lending group for debt: includes seven first-time lenders; re-upping from BMO and RBC
- Series A convertible preferred early conversion agreement with Conversant Capital
Financial Highlights
- Full year 2025: net operating income +22% and adjusted EBITDA at share +28%
- Q4 REVPOR: +5.9% YoY; full-year REVPOR +8.8% YoY
- Total portfolio NOI at share: +22% YoY (=$15 million annualized)
- Acquisition portfolio (2024 cohort) NOI margin: expanded +550 bps to 24.7% from 19.2%
- Same store “future-state” same store NOI: management-provided pro forma +16.2% YoY NOI growth rate (Q4 2025 vs Q4 2024) for bifurcated same store pool; additional context in Q&A that reported Q4 comps were ~6.5% (analyst referenced) and management reframed as a new bucket jumping-off point
- March 1 rate renewal: average annual rent renewal rate +7.9% on in-place leases covering 96% of same store residents (vs 6.8% for comparable resident lease count one year ago)
- Total level-of-care revenues: +11.4% in 2025 YoY
- Labor cost control: total labor excluding benefits -40 bps vs prior quarter; hours relative to occupancy -2% in Q4; non-labor expense decreased ~$200,000 from Q3 to Q4
Capital Funding
- CHP deal consideration: $1.8 billion total consideration
- Revolver upsized: new $405 million revolver at close
- Additional revolver/accordion debt capacity: +$320 million debt capacity via accordion feature
- Term loans: two term loans totaling $525 million at S + 195 bps; can push down to S + 130 bps as leverage declines
- Total bank debt capacity: $1.25 billion; led by “blue-chip banks” with seven first-time lenders; BMO and RBC re-upped
- Short-term leverage target: 6.0x to 6.5x
- Conversant Capital Series A convertible preferred: outstanding balance $51.25 million at 11% coupon; conversion price $32/share; expected to eliminate high-cost capital and generate >$5 million additional annual free cash flow savings (impact not reflected in today’s earnings presentation)
Strategy & Ops
- Labor model: proprietary labor tools identified drivers of labor misses in Q3; implemented more stringent labor controls and close monitoring via corporate support center; effects showed in Q4 and early 2026
- Post-transaction integration priorities: (1) minimize operational disruption; (2) create additional incentives for strong operator performance; (3) maintain continuity within CHP asset management function
- Portfolio reporting reclassification for 2026: split communities into same store, non-same store, and triple net lease
- Pruning plan: prune ~10% of portfolio by community count (includes legacy Sonida and CHP); management indicated speed expectation of “six- to twelve-month timeline” and that proceeds go first to delevering then recycling
- Net lease assets: management said no immediate plans to sell; ongoing evaluation; long-term plan is thoughtful consideration based on market and opportunity
Market Outlook
- 2026 target: growth in revenue per occupied room at or above same store growth achieved in 2025
- Management commentary: optimistic for accelerated growth and continued momentum into 2026; Q1 expected to continue year-over-year and sequential quarterly improvement
- Near- to mid-term: target to break the 30% NOI margin threshold for future-state same store portfolio (management-provided future-state NOI margin 27.8% pro forma)
Risks & Headwinds
- Analyst concern/delta risk: transition to redefined same store pool (reported ~6.5% Q4 figure referenced by analyst vs pro forma 16%+ NOI growth rate); management avoided committing to normalized/peer-relative number until Q1/Q2 reporting is issued
- Operational hurdle previously experienced: labor not flexed timely during a rapid occupancy spike in Q3 (management cited this as the driver for labor misses and implemented controls thereafter)
- Labor model is an ongoing process: management stated they will not ever be fully complete optimizing the labor model
- Acquisition stabilization/starting points: total portfolio occupancy/margin unfavorably impacted by acquisitions coming in at lower starting average occupancy and margin levels
Sentiment: MIXED
Note: This summary was synthesized by AI from the SNDA Q4 2025 earnings transcript. Financial data is complex; please verify all metrics against official SEC filings before making investment decisions.