Sonida Senior Living
SNDA on NYSE. Sonida Senior Living sells housing and care services to older adults. Market value $1.8bn.
Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.
The company doesn't report operating profit, so we work it out from pre-tax profit and interest.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
See Health care stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $-2.96 of spare cash in the past 12 months. A savings account pays about $4.
The filings do not give us enough to work this out.
Each dollar kept in the business earns 8 cents a year. Above 10 is good.
Quality score: 30 of 100. Price score: 0 of 100. Our list needs 70 on quality and 60 on price.
$37.12 a share, 49% above its 1-year low
Over the past year the price has ranged from $24.95 to $44.39.
Pays no dividend
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
Spare cash swings from quarter to quarter here: a shortfall of $53 million in the past 12 months, a shortfall of $9 million in the year to December 2025.
| Revenue | |||||
| Revenue | $235m | $238m | $255m | $304m | $381m |
| Operating margin | |||||
| Operating margin | 69.6% | -8.9% | 22.7% | 22.6% | -8.8% |
| Debt to equity | |||||
| Debt to equity | n/a | n/a | n/a | 9.07 | n/a |
| Shares outstanding | |||||
| Shares outstanding | 0.01bn | 0.01bn | 0.02bn | 0.02bn | 0.05bn |
Health checks
- Free cash flow positive0 of 5 years
- Accounting looks honest (Beneish)Not enough data
- Financial strength (Piotroski)4 of 8 checks we could run
- Profit backed by cash (accruals)No
- DebtUnknown
- Revenue growth, five yearsShrinking, 0.1% a year
- Buying back its own sharesNo, 620% more shares since 2021
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $208 million last quarter, up 122% on a year ago.
- A loss of $24 million, compared with a loss of $2 million a year ago.
- Over the past 12 months it spent $53 million more cash than it brought in, compared with $18 million a year earlier.
- 159% more shares than a year ago. Each share owns a bit less of the company.
- Debt is $1.5 billion more than cash, up from $664 million a year ago.
- Sales grew on a year ago in each of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $75m |
| December 2024 | $92m |
| March 2025 | $92m |
| June 2025 | $94m |
| September 2025 | $98m |
| December 2025 | $98m |
| March 2026 | $123m |
| June 2026 | $208m |
| Quarter to | Amount |
|---|---|
| September 2024 | -$14m |
| December 2024 | -$6m |
| March 2025 | -$13m |
| June 2025 | -$2m |
| September 2025 | -$27m |
| December 2025 | -$30m |
| March 2026 | -$41m |
| June 2026 | -$24m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 12 March 2026
- Next quarterly (estimated, 10-Q)
- 9 November 2026
Who owns it
2 long-term investors we follow own it, up from 1 last quarter. 229 funds in all.
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Irenic CapitalAdam Katz | $78m | 5.6% | Added |
| First Eagle Investment ManagementMatthew McLennan | $5m | <0.1% | New |
Largest holders overall
- Conversant Capital$596m
- Capital International Investors$134mAdded
- Pertento Partners LLP$97mNew
- BlackRock$91mAdded
- Irenic Capital$78mAdded
- Vanguard Capital Management$53mAdded
- Geode Capital Management$30mAdded
- Tyro Capital Management$26mAdded
- State Street$25mAdded
- Nuveen$23mAdded
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
5 investors own more than 5%.
- Conversant Capital LLCInsider or founderat least 29.5%−2.8 pts(filed with 10 related holders)Since 21 August 2026
What they said
Item 4 of the Original Schedule 13D, as previously amended, is hereby amended by the addition of the following description of events involving the Reporting Persons and certain limited partners of CPIF SAF. The disclosure set forth in Item 3 above regarding the distribution of…
Read the filing - Capital International InvestorsPassive investor7.0%Since 30 June 2026
- Seymour Pluchenikat least 6.7%−7.6 pts(filed with 6 related holders)Since 10 March 2026
What they said
Item 4 is hereby supplemented as follows: The information set forth in Item 6 is incorporated by reference into this Item 4. On March 11, 2026, in connection with the closing of the CHP Merger (as defined in Item 6 below) and pursuant to the Amended and Restated Investor Rights…
Read the filing - Pertento Partners LLPPassive investorat least 6.0%+1.0 pts(filed with 3 related holders)Since 4 September 2026
- Ugo BizzarriPassive investorat least 4.8%(filed with 1 related holder)Since 6 August 2025
| Holder | Stake | Since | |
|---|---|---|---|
Conversant Capital LLC Insider or founder | at least 29.5%−2.8 pts (filed with 10 related holders) | 21 August 2026 | What they saidItem 4 of the Original Schedule 13D, as previously amended, is hereby amended by the addition of the following description of events involving the Reporting Persons and certain limited partners of CPIF SAF. The disclosure set forth in Item 3 above regarding the distribution of… Read the filing |
Capital International Investors Passive investor | 7.0% | 30 June 2026 | |
Seymour Pluchenik | at least 6.7%−7.6 pts (filed with 6 related holders) | 10 March 2026 | What they saidItem 4 is hereby supplemented as follows: The information set forth in Item 6 is incorporated by reference into this Item 4. On March 11, 2026, in connection with the closing of the CHP Merger (as defined in Item 6 below) and pursuant to the Amended and Restated Investor Rights… Read the filing |
Pertento Partners LLP Passive investor | at least 6.0%+1.0 pts (filed with 3 related holders) | 4 September 2026 | |
Ugo Bizzarri Passive investor | at least 4.8% (filed with 1 related holder) | 6 August 2025 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 2 sold $11m.
- Simanovsky MichaelDirectorSold
- Date
- 1 September 2026
- Shares
- 97,581
- Price
- $38.42
- Value
- $4m
- Simanovsky MichaelDirectorSold
- Date
- 28 August 2026
- Shares
- 26,407
- Price
- $38.35
- Value
- $1m
- Simanovsky MichaelDirectorSold
- Date
- 27 August 2026
- Shares
- 15,000
- Price
- $39.00
- Value
- $585,000
- Simanovsky MichaelDirectorSold
- Date
- 26 August 2026
- Shares
- 15,086
- Price
- $40.94
- Value
- $617,580
- Simanovsky MichaelDirectorSold
- Date
- 25 August 2026
- Shares
- 115,000
- Price
- $40.71
- Value
- $5m
- Harris Benjamin PDirectorSold
- Date
- 14 August 2026
- Shares
- 6,269
- Price
- $39.79
- Value
- $249,441
- Harris Benjamin PDirectorSold
- Date
- 13 May 2026
- Shares
- 2,500
- Price
- $37.46
- Value
- $93,650
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 1 September 2026 | Simanovsky Michael Director | Sold | 97,581 | $38.42 | $4m |
| 28 August 2026 | Simanovsky Michael Director | Sold | 26,407 | $38.35 | $1m |
| 27 August 2026 | Simanovsky Michael Director | Sold | 15,000 | $39.00 | $585,000 |
| 26 August 2026 | Simanovsky Michael Director | Sold | 15,086 | $40.94 | $617,580 |
| 25 August 2026 | Simanovsky Michael Director | Sold | 115,000 | $40.71 | $5m |
| 14 August 2026 | Harris Benjamin P Director | Sold | 6,269 | $39.79 | $249,441 |
| 13 May 2026 | Harris Benjamin P Director | Sold | 2,500 | $37.46 | $93,650 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
What could go wrong
- Sales have shrunk: 0.1% a year.
- It owes more than it owns on paper (negative equity). Often that's from borrowing to buy back shares.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.