Brookdale Senior Living Inc.
BKD Healthcare Medical Care Facilities
Brookdale Senior Living Inc.’s revenue for fiscal 2025 (year ended December 2025) was $3.2 billion, up 2.19% from fiscal 2024. In the quarter to June 2026, revenue fell 11.6%, EPS grew 155.6%, free cash flow grew 533.1% and total debt was flat, each against the same quarter a year earlier. Revenue growth for three consecutive years, operating cash flow growth for three.
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Brookdale Senior Living Inc. (BKD) Altman Z-score
Brookdale Senior Living Inc.'s Altman Z-score for fiscal 2025 is −0.22, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | −0.22 | 0.06 |
| FY2024 | −0.28 | 0.01 |
| FY2023 | −0.29 | 0.06 |
| FY2022 | −0.35 | (0.04) |
| FY2021 | −0.31 | (0.20) |
| FY2020 | −0.11 | (0.04) |
| FY2019 | −0.07 | 0.06 |
| FY2018 | −0.13 | (0.31) |
| FY2017 | 0.18 | (0.22) |
| FY2016 | 0.41 | (0.04) |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.00 | — | −0.00 | |
| Retained earnings / total assets | (0.72) | — | −1.01 | |
| EBIT / total assets | 0.00 | — | 0.01 | |
| Market value of equity / total liabilities | 0.42 | — | 0.25 | |
| Sales / total assets | 0.54 | — | 0.54 | |
| Altman Z-score | Distress zone | −0.22 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −2.36 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| GRDN Guardian Pharmacy Services, Inc. compare | 10.3× |
| ADUS Addus HomeCare Corporation compare | 5.2× |
| ASTH Astrana Health, Inc. compare | 2.4× |
| MD Pediatrix Medical Group, Inc. compare | 2.1× |
| ARDT Ardent Health, Inc. compare | 2.0× |
| AVAH Aveanna Healthcare Holdings Inc. compare | 1.5× |
| ACHC Acadia Healthcare Company, Inc. compare | 0.9× |
| SGRY Surgery Partners, Inc. compare | 0.8× |
| BKD Brookdale Senior Living Inc. | −0.2× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets