Sonida Senior Living, Inc.
SNDA Healthcare Medical Care Facilities
Sonida Senior Living, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $381.1 million, up 25.2% from fiscal 2024. In the quarter to June 2026, revenue grew 122.0%, EPS fell 225.0%, free cash flow fell 291.7% and total debt rose 131.8%, each against the same quarter a year earlier. Revenue growth for three consecutive years; insiders bought in the last twelve months.
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Sonida Senior Living, Inc. (SNDA) Beneish M-score
Sonida Senior Living, Inc.'s Beneish M-score for fiscal 2025 is −3.11; values above −1.78 are the model's flag for possible earnings manipulation — a statistical screen, not a finding.
Beneish M-score, annual
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Annual newest first
| Period | Beneish M-score | Change (points) |
|---|---|---|
| FY2025 | −3.11 | (13.45) |
| FY2024 | 10.34 | 13.04 |
| FY2023 | −2.70 | (0.76) |
| FY2022 | −1.94 | 0.06 |
| FY2021 | −2.00 | 3.40 |
| FY2020 | −5.40 | (7.46) |
| FY2019 | 2.06 | 5.06 |
| FY2018 | −3.00 | 0.10 |
| FY2017 | −3.11 | (0.65) |
| FY2016 | −2.46 | (0.13) |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 0.78 | — | 0.72 | |
| Gross margin index | 1.00 | — | 0.53 | |
| Asset quality index | 0.81 | — | 0.33 | |
| Sales growth index | 1.25 | — | 1.12 | |
| Depreciation index | 0.79 | — | 0.09 | |
| SG&A index | 0.93 | — | −0.16 | |
| Total accruals to total assets | (0.11) | — | −0.54 | |
| Leverage index | 1.10 | — | −0.36 | |
| Beneish M-score | Low — no pattern the model associates with manipulation | −3.11 | ||
How the Beneish M-score works
M = −4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI (Beneish, 1999): eight changes in the accounts from one fiscal year to the next, which the model weighs for the pattern seen in companies that later restated their earnings. Higher is worse.
| below −2.22 | Low — no pattern the model associates with manipulation |
|---|---|
| −2.22 to −1.78 | Elevated |
| above −1.78 | Flagged by the model |
−1.78 is the cut-off usually quoted from the paper, −2.22 a common conservative one. A statistical screen, not a finding of wrongdoing.
When asset quality, depreciation or SG&A cannot be worked out, that index is set to 1, as Beneish did, and the breakdown says so; with all three missing there is no score. Depreciation includes amortisation, and asset quality leaves out securities. Not worked out for banks, insurers and REITs.
Beneish M-score against peers
| Company | Beneish M-score |
|---|---|
| AMN AMN Healthcare Services Inc compare | −3.4× |
| SNDA Sonida Senior Living, Inc. | −3.1× |
| HCSG Healthcare Services Group, Inc. compare | −3.1× |
| ARDT Ardent Health, Inc. compare | −2.8× |
| SGRY Surgery Partners, Inc. compare | −2.5× |
| PNTG The Pennant Group, Inc. compare | −2.5× |
| ASTH Astrana Health, Inc. compare | −2.2× |
| CMPS COMPASS Pathways PLC Sponsored ADR compare | — |
| AGL Agilon Health, Inc. compare | — |
What Beneish M-score is
The Beneish M-Score combines eight year-on-year changes in the accounts into a statistical screen for patterns seen in companies that overstated earnings.
−4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI