SNDA
Sonida Senior Living, Inc.Healthcare·Medical - Care Facilities
$35.35
$707M market cap
Revenue
$411.9M
Free Cash Flow
$-47.0M
Rev Growth
+33.4%
FCF Margin
-11.4%
P/FCF
--
EV/FCF
--
Fwd EV/EBITDA
--
Fair Value
--
Upside
--
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, su
2-Year Price History
$37.01+33.9%
Quarterly Financials & Projections
Quarterly Waterfall ($ M)
| Period | Rev | EBITDA | OpIn | NI | OCF | FCF | CapEx | Cash | Debt | Shares | ROIC | IntCov | EV/EBITDA | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Act | 2026-Q1 | 122.6 | -8.1 | -28.6 | -41.2 | -35.9 | -42.7 | -6.8 | 84.3 | 1,622 | 18.1 | -4.5% | -0.6x | 424.1x |
| Act | 2025-Q4 | 97.7 | -5.3 | -49.6 | -29.8 | -0.4 | -9.3 | -8.9 | 11.0 | 689.7 | 18.1 | -25.0% | -0.5x | 50.7x |
| Act | 2025-Q3 | 98.0 | -2.7 | -4.6 | -26.9 | 12.0 | 3.0 | -9.0 | 17.0 | 684.4 | 18.1 | -2.2% | -0.3x | 24.4x |
| Act | 2025-Q2 | 93.5 | 21.0 | -1.8 | -1.6 | 8.9 | 1.9 | -7.0 | 14.1 | 677.9 | 18.1 | -0.9% | -- | 18.2x |
| Act | 2025-Q1 | 91.9 | 10.2 | -2.3 | -12.5 | 3.8 | -4.5 | -8.3 | 14.0 | 650.9 | 18.1 | -1.1% | 1.1x | 22.5x |
| Act | 2024-Q4 | 91.9 | 16.7 | -6.4 | -5.5 | -3.1 | -10.4 | -7.2 | 17.0 | 651.4 | 18.1 | -3.1% | 1.7x | 12.8x |
| Act | 2024-Q3 | 74.8 | 6.4 | -4.9 | -13.8 | 3.0 | -5.1 | -8.0 | 24.9 | 604.1 | 15.5 | -2.5% | 0.7x | 15.4x |
| Act | 2024-Q2 | 70.2 | 9.3 | -0.9 | -9.8 | 2.5 | -1.7 | -4.1 | 9.5 | 583.8 | 13.0 | -0.6% | 1.0x | 15.7x |
| Act | 2024-Q1 | 67.4 | 45.6 | -1.7 | 27.0 | -4.1 | -9.9 | -5.8 | 24.2 | 578.1 | 10.6 | -1.1% | 5.3x | 11.1x |
| Act | 2023-Q4 | 65.7 | 5.2 | -4.5 | -14.6 | 0.0 | -3.7 | -3.8 | 4.1 | 629.4 | 7.3 | -2.9% | 0.5x | 37.7x |
| Act | 2023-Q3 | 64.7 | 0.6 | 0.0 | -18.4 | 5.1 | 0.6 | -4.5 | 3.6 | 629.5 | 7.1 | 0.0% | 0.1x | 43.9x |
| Act | 2023-Q2 | 57.5 | 6.3 | 6.3 | -12.2 | 2.3 | -2.0 | -4.3 | 7.2 | 636.0 | 6.4 | 3.8% | 0.7x | 35.3x |
| Act | 2023-Q1 | 57.1 | 6.2 | 6.2 | 24.1 | 3.3 | -2.2 | -5.4 | 13.0 | 635.9 | 7.2 | 3.7% | 0.7x | 49.1x |
| Act | 2022-Q4 | 53.9 | 2.5 | 2.5 | -16.6 | -5.5 | -11.7 | -6.3 | 16.9 | 671.0 | 6.4 | 1.4% | 0.3x | 79.3x |
| Act | 2022-Q3 | 53.1 | 4.1 | 4.1 | -13.7 | 5.0 | -1.2 | -6.2 | 27.1 | 665.9 | 6.4 | 2.5% | 0.5x | -- |
| Act | 2022-Q2 | 52.6 | 1.7 | 1.7 | -7.4 | -1.4 | -8.0 | -6.6 | 32.7 | 669.5 | 6.4 | 1.0% | 0.2x | -- |
| Act | 2022-Q1 | 51.5 | 1.3 | 1.3 | -16.7 | -0.7 | -6.3 | -5.6 | 48.6 | 671.2 | 6.3 | 0.6% | 0.2x | -- |
Historical Valuation
Multiples vs the company's own history — cheap or rich relative to itself? Historical fiscal years, then TTM, then forward projections (E). Forward rows hold today's price against projected earnings, so the multiple compresses if the company grows into it.
| Year | Price | Rev Gr | EBITDA % | EBITDA | EV/EBITDA | EV/FCF | P/E | P/S |
|---|---|---|---|---|---|---|---|---|
| 2022 | 12.50 | — | 4.5% | 10 | 79.3× | n/m | n/m | 0.5× |
| 2023 | 9.66 | +16.1% | 7.5% | 18 | 37.7× | n/m | n/m | 0.3× |
| 2024 | 23.08 | +24.2% | 25.6% | 78 | 12.8× | n/m | n/m | 1.2× |
| 2025 | 32.61 | +25.2% | 6.1% | 23 | 50.7× | n/m | n/m | 1.3× |
| TTM | 35.35 | +25.3% | 1.2% | 5 | 0.0× | 0.0× | 0.0× | 0.0× |
EBITDA in reporting-currency $M. Historical multiples use year-end market cap (split-adjusted price history); TTM & forward years use today's.
Valuation & Metrics
Market Stats
Price$35.35
Market Cap$707M
Enterprise Value$2.2B
P/S Ratio1.7x
P/FCF--
EV/FCF--
FCF Margin (TTM)-11.4%
FCF Yield-6.7%
Dividend Yield (TTM)--
Annual Dilution0.3%
CurrencyUSD
TTM Financial Snapshot
Revenue$411.9M
Net Income$-99.5M
Free Cash Flow$-47.0M
Revenue Growth (YoY)+33.4%
EBITDA Margin1.2%
Net Margin-24.2%
FCF Margin-11.4%
CapEx % of Revenue7.7%
SBC % of Revenue1.6%
ROIC-8.1%
WC Change % Rev0.6%
Interest Coverage0.1x
Forward Outlook & Risk
Short Interest
Short % of Float5.0%
Short Shares1.0M
Days to Cover1.7
Change (vs Prior)+24.1%
Short % Float History
5.00%+2.80pp
Options
Call IV (ATM)53%
Put IV (ATM)51%
ATM Spread9.1%
Call $OI (near money)$19K
Put $OI (near money)$585
ATM ExpiryJuly 17, 2026 (56D)
ATM Strike$35.0
Major Expirations3
Near-money chain · July 17, 2026
| Strike | Call Bid/Ask | Call OI | Put Bid/Ask | Put OI |
|---|---|---|---|---|
| $20.00 | $15.40/$19.10 | 0 | --/$1.15 | 0 |
| $22.50 | $13.10/$16.00 | 0 | --/$1.15 | 0 |
| $25.00 | $10.60/$13.50 | 0 | --/$2.15 | 0 |
| $30.00 | $6.00/$8.90 | 0 | --/$2.25 | 1 |
| $35.00 | $2.55/$5.90 | 2 | $0.40/$3.30 | 0 |
| $40.00 | $0.10/$3.40 | 40 | $2.30/$5.60 | 0 |
| $45.00 | --/$2.60 | 0 | $6.90/$9.60 | 0 |
| $50.00 | --/$2.20 | 0 | $11.10/$14.60 | 0 |
Snapshot: 2026-05-22
Employees
Headcount3,415
Revenue / Employee$120,600
Gross Profit / Employee$-36,036
2022: 3,497 → 2023: 3,955 → 2024: 5,063 → 2025: 5,140 (14% CAGR)
Cash Runway
21.5months
WATCH
Institutional Ownership
Headline & net flow
NET BUYING
In Q1 2026 so far (quarter still filing), institutions are net buyers — bought 62.9% of float, sold 3.6%. 8 filers moved >1% of shares (7 buying, 1 selling).
Net flow · Q1 2026still filing
+59.2% of float (net)
Bought 62.9% · Sold 3.6%
227 filers reported (last quarter: 69)
Ownership composition
Active
103.7%(+63.6% YoY)
215 filers
hedge / family / endowment
Retail funds
—
Fidelity, Schwab, 401(k)
Passive
5.5%(+2.3% YoY)
9 filers
Vanguard, iShares, SPDR
Market makers
1.5%(+1.5% YoY)
6 filers
Citadel, Susquehanna
Insiders
34.1%
Form 4 — latest per insider
ActiveRetail fundsPassiveMarket makersRetail direct
Top holders
| Fund | $ value | Cost basis | Δ QoQ | Δ YoY | α life | Fund AUM |
|---|---|---|---|---|---|---|
| Conversant Capital LLC | $471M | $28.10 | +$172M | +$172M | -6.4% | $725M |
| Capital International Investors | $56.2M | $32.25 | +$56.2M | +$56.2M | +0.4% | $424.78B |
| Irenic Capital Management LP | $39.3M | $32.28 | +$35.9M | +$39.3M | -2.9% | $1.05B |
| Hazelview Securities Inc. | $21.6M | $25.87 | −$3.5M | −$11.9M | -2.6% | $537M |
| J. Goldman & Co LP | $17.8M | $32.36 | +$12.4M | +$17.8M | +0.5% | $2.16B |
| Solas Capital Management, LLC | $14.4M | $23.61 | −$311K | −$2.4M | -2.0% | $174M |
| BlackRock, Inc.Passive | $13.7M | $25.64 | −$631K | +$957K | -0.2% | $5.69T |
| VANGUARD CAPITAL MANAGEMENT LLCPassive | $11.7M | $32.25 | +$11.7M | +$11.7M | — | $4.04T |
| Clayton Partners LLC | $10.0M | $25.03 | +$1.0M | +$2.6M | +0.5% | $138M |
| JANE STREET GROUP, LLCMM | $8.8M | $32.12 | +$8.4M | +$8.8M | -0.1% | $92.10B |
| Obion Capital Management LP | $8.7M | $32.51 | +$2.4M | +$8.7M | +3.5% | $101M |
| LuminArx Capital Management LP | $8.3M | $32.25 | +$8.3M | +$8.3M | +5.0% | $101M |
| Emmett Investment Management, LP | $7.5M | $24.83 | +$774K | +$2.5M | +1.9% | $131M |
| Colony Capital, Inc. | $7.3M | $32.25 | +$7.3M | +$7.3M | +0.4% | $1.58B |
| RUSH ISLAND MANAGEMENT, LP | $7.0M | $32.25 | +$7.0M | +$7.0M | -2.2% | $1.49B |
| GARNET EQUITY CAPITAL HOLDINGS, INC. | $6.2M | $32.25 | +$6.2M | +$6.2M | +0.9% | $176M |
| MAKENA CAPITAL MANAGEMENT LLC | $6.0M | $26.74 | +$0 | +$0 | -1.1% | $866M |
| GEODE CAPITAL MANAGEMENT, LLCPassive | $5.2M | $25.34 | +$166K | −$26K | +2.3% | $1.61T |
| Arbiter Partners Capital Management LLC | $4.9M | $19.93 | −$987K | −$5.4M | +1.2% | $147M |
| MORGAN STANLEY | $4.6M | $31.05 | +$4.1M | +$4.2M | -0.3% | $1.65T |
Cost basis is a volume-weighted estimate from accumulation periods within our 13F history; holders who built their position before our window started will show a stale basis. % above the cost basis is the unrealized gain at the current price.
Trading behavior
Smart-money alpha (lifetime, %/qtr)BEARISH
Holders
-2.99%
avg per quarter
Holders (ex-self)
-4.00%
excl. this stock
Buyers (this Q)
-2.22%
201 buyers · $0.41B in
Sellers (this Q)
+0.23%
17 sellers · $0.02B out
alpha coverage: 98% of $ has a lifetime-alpha record
Holder behavior on this stocksource: stock
On big dips (−10%+)
-4.3%
how holders react when this stock falls
On quiet Qs
+7.6%
−10% to +10% baseline
On rallies (+10%+)
+10.3%
how they react when this stock rises
Holders' portfolio flow this Q
+24.0%
inflows — adds are organic
Sellers' portfolio flow this Q
+12.0%
Sellers grew AUM elsewhere — opinionated cut of this stock.
▸ Compare to holder-profile behavior (across all their stocks)
Holder dip (any stock)
-2.2%
Holder mid (any stock)
+1.5%
Holder rally (any stock)
-6.8%
Biggest decreases this quarter
Alyeska Investment Group, L.P.exited−$9.4MDAVIDSON KEMPNER CAPITAL MANAGEMENT LPexited−$5.4MHazelview Securities Inc.−$3.5Mα-2.6Arbiter Partners Capital Management LLC−$987Kα+1.2BlackRock, Inc.−$631Kα-0.2HRT FINANCIAL LPexited−$329KSolas Capital Management, LLC−$311Kα-2.0GSA CAPITAL PARTNERS LLPexited−$233KCygnus Capital Advisors, LLCexited−$16KAMALGAMATED BANKexited−$6K
New buyers this quarter
Top-5 holders · 72.5%
Conversant Capital LLC--
Capital International Investors--
Irenic Capital Management LP--
Hazelview Securities Inc.--
J. Goldman & Co LP--
Top Holders Over Time
5-year share-count history (top 10 holders by peak, incl. exited) + price
hover the chart for per-quarter detailprice (right axis)
Conversant Capital LLC14.6MCapital International Investors1.7MIrenic Capital Management LP1.2MHazelview Securities Inc.669KArbiter Partners Capital Management LLC152KTyro Capital Management LLC36KJ. Goldman & Co LP551KSolas Capital Management, LLC446KAlyeska Investment Group, L.P.—Gotham Asset Management, LLC—
Analyst Coverage
Analyst Coverage
Price Targets
Last Quarter (4 analysts)$40.751530.0%
Last Year (6 analysts)$37.67660.0%
Current Price$35.35
Analyst Ratings
1
2
1
Buy: 1Hold: 2Sell: 1Consensus: Hold
Consensus Estimates
| Quarter | Revenue | EBITDA | Net Inc | EPS | EPS Range | # Analysts |
|---|---|---|---|---|---|---|
| 2026 Q3 | 162M | 47M | -12M | $-0.65 | $-0.65 – $-0.65 | 2 |
| 2026 Q4 | 163M | 48M | -11M | $-0.61 | $-0.61 – $-0.61 | 1 |
| 2027 Q1 | 94M | 28M | -7M | $-0.37 | $-0.37 – $-0.37 | 1 |
| 2027 Q2 | 96M | 28M | -2M | $-0.13 | $-0.13 – $-0.13 | 1 |
| 2027 Q3 | 97M | 28M | -2M | $-0.13 | $-0.13 – $-0.13 | 1 |
| 2027 Q4 | 99M | 29M | -2M | $-0.13 | $-0.13 – $-0.13 | 1 |
| 2028 Q1 | 157M | 46M | 1M | $0.07 | $0.07 – $0.07 | 1 |
| 2028 Q2 | 162M | 47M | 3M | $0.15 | $0.15 – $0.15 | 1 |
| 2028 Q3 | 167M | 49M | 2M | $0.12 | $0.12 – $0.12 | 1 |
| 2028 Q4 | 173M | 51M | 2M | $0.12 | $0.12 – $0.12 | 1 |
Corporate
Executive Compensation (2023-2025)
Direct Pay$12.0M
Incentive & Other$2.4M
Total Compensation$14.4M
% of Revenue1.4%
Insider Trading (last 12mo)
Open-market only (Form 4 P-Purchase + S-Sale). Excludes grants, option exercises, tax withholding, gifts.
Major holders (≥10% beneficial owners)
Buys ($, 12mo)
$100.00M
1 txn · 1 insider · 3,739,716 sh
Sells ($, 12mo)
$0
0 txns · 0 insiders · 0 sh
Recent transactions
| Date | Side | Insider | Title | Shares | Price | Dollars | Owned $ |
|---|---|---|---|---|---|---|---|
| 2026-03-11 | BUY | Simanovsky Michael | director, 10 percent owner: | 3,739,716 | $26.74 | $100.00M | $143.16M |
Order Flow (FINRA, ~3w lag)
21.5%retail+3.1pp
32.3%dark-1.8pp
week of 2026-04-13
Off-exchange volume from FINRA. Retail = non-ATS (wholesaler PFOF + broker internalization). Dark = ATS (dark-pool crossing networks, institutional). Lit-exchange = remainder.
Revenue Breakdown
Revenue Segments
By Product (2026-Q1)
| Health Care, Resident Service | $108.4M | +37% |
| Housing And Support Services | $106.3M | +36% |
| Community Reimbursement Revenue | $11.4M | -2% |
| Rental Income | $1.7M | NEW |
| Ancillary Services | $1.2M | +276% |
| Management Service | $1.1M | +8% |
| Community Fees | $1.0M | +84% |