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Brookdale Senior Living Inc.
$2.8B
Market Cap
10.1
P/E
102.20
PEG
0.2%
ROCE
N/M
ROE
-123.64
D/E
0.4%
OPM
-27.3%
% from 52W High
77
α RS
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🌏 Global Investor Returns
Currency-adjusted total returns for BKD including FX impact
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📈 Price History
Ratio Health
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About

Brookdale Senior Living Inc. owns, manages, and operates senior living communities in the United States.

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📈 Growth Pattern
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⭐ Superinvestors Holding BKD
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Manager Shares Value % of Fund Period
Jim Simons Renaissance Technologies LLC 7.66M $104.8M 0.16% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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📊 MIXED Q1 RevPAR +8.2%, occupancy +280bps, EBITDA $131M; FY26 guidance $502M-$516M
Revenue & Profitability
First quarter 2026 resident fees were $722 million, down 7.1% year-over-year due to a 14.2% reduction in consolidated average units, partially offset by 8.2% RevPAR growth. Adjusted EBITDA improved 5.6% to $131 million. Consolidated occupancy was 82.1%, up 280 basis points year-over-year; same-community occupancy was 82.7%, up 170 basis points. General and administrative expense (excl. stock-based comp and restructuring) was $40.6 million, down 3.8% year-over-year. Full-year 2026 adjusted EBITDA guidance is $502 million-$516 million.
Outlook
Management expressed confidence in favorable supply/demand fundamentals in senior housing, with scarce real estate supporting pricing power. The key selling season runs from May through September, and April occupancy grew 30 basis points sequentially, stronger than the historical 10-20 basis point improvement, reflecting improved execution. The company reiterated its multi-year outlook of mid-teens annual adjusted EBITDA growth through 2028 and expects leverage to decline below 6x by the end of 2028.
Growth Drivers
Key growth levers include occupancy expansion, high single-digit in-place rate increases implemented January 1, 2026, and improved community-level execution under a new regional structure. Contribution from portfolio optimization (divesting underperforming communities) is expected to boost RevPAR and margins. Second-half 2026 adjusted EBITDA growth is expected to return to mid-teens levels, with fourth quarter even stronger, driven by operating leverage and cost savings.
Balance Sheet & CapEx
CapEx guidance for 2026 is $175 million-$195 million, directed at community renovations and refreshes. Slide 19 in the investor deck shows three examples of completed projects with strong ROI. A newly hired Senior Vice President of Strategic Operations oversees pricing, labor management, and capital deployment. The company has dozens of prioritized projects that meet its return hurdles.
Margins
Consolidated senior housing operating margin improved 80 basis points year-over-year, with operating income up 14% sequentially. Same-community labor expense as a percent of revenue improved 20 basis points year-over-year. Revenue per occupied room (RevPOR) grew 4.5% year-over-year, outpacing expense per occupied unit (ExPOR) growth of 3.2%, generating a 130 basis point positive spread. Management expects margin expansion to resume as occupancy grows and cost initiatives take hold.
Key Risks
Risks highlighted include the impact of winter storms ($3 million-$4 million direct costs and occupancy disruption), the temporary disruption from organizational changes (new regional structure, new COO, and dispositions of over 100 communities), and the seasonal slowdown in occupancy during Q1. Analyst questions also touched on potential move-out increases following the high single-digit in-place rate hike, though management noted it was within expectations.
Generated by AI · Q1 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-08-11
Q2 2026 saw 8.2% RevPAR growth and a 4.3% rise in adjusted EBITDA, with occupancy up but slightly below expectations. Portfolio optimization, disciplined pricing, and cost efficiencies support reaffirmed 2026 guidance and a positive outlook for the second half.
Q1 2026 Q1 2026 2026-05-07
Delivered strong year-over-year occupancy and RevPAR growth in Q1 2026, driven by organizational transformation, portfolio optimization, and robust pricing power. Reaffirmed 2026 guidance for 8%-9% RevPAR growth and $502M-$516M adjusted EBITDA, with further margin and earnings acceleration expected in the second half.
Q4 2025 Q4 2025 2026-02-19
Delivered strong 2025 results with 19% Adjusted EBITDA growth and record occupancy, driven by operational improvements and portfolio optimization. 2026 guidance calls for 8%-9% RevPAR growth and mid-teen Adjusted EBITDA expansion, supported by favorable demographics and targeted capital investment.
Q3 2025 Q3 2025 2025-11-07
Q3 2025 saw record post-pandemic occupancy and 20% adjusted EBITDA growth, prompting a guidance raise. Portfolio optimization and targeted CapEx are driving performance, while a new CEO and regional structure aim to accelerate operational gains.
Q2 2025 Q2 2025 2025-08-07
Q2 saw occupancy rise above 80% for the first time since 2020, driving 20% adjusted EBITDA growth and positive free cash flow. Portfolio optimization and cost controls supported improved guidance for RevPAR and EBITDA, with further asset dispositions and reinvestment planned.
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📊 Analysis Methodology

This comprehensive investment analysis was conducted using The Finmagine™ Stock Analysis & Ranking Methodology, a proprietary framework that systematically evaluates stocks across five critical dimensions: Financial Health, Growth Prospects, Competitive Positioning, Management Quality, and Valuation.

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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
This analysis does not constitute, nor should it be interpreted as, an offer, solicitation, or recommendation to buy, sell, or hold any securities or financial products. Investors are strongly advised to conduct their own independent research and due diligence and to consult with a licensed financial advisor or an SEC-registered investment adviser before making any investment decisions, taking into account their individual financial situation, risk tolerance, and investment objectives.

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Conflict of Interest Disclosure:
The author and/or analyst may currently hold or have previously held positions in the securities discussed. Any such positions are not intended to influence the objectivity or independence of the analysis. This research is produced independently and is not sponsored, endorsed, or commissioned by any company or institution.

Information Sources:
The analysis is based on publicly available information including SEC filings (10-K, 10-Q), annual reports, management commentary, and publicly available financial data. Information is believed to be accurate as of the date of publication but may be subject to change without notice. Readers are encouraged to independently verify all information before acting upon it.

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