Ensign Group Files 2024 10-K

TL;DR

ENSG 10-K filed: Full year 2024 results are in. Check financials.

AI Summary

Ensign Group, Inc. filed its 2024 10-K on February 5, 2025, reporting on its fiscal year ending December 31, 2024. The company, operating in skilled nursing care facilities, is headquartered in San Juan Capistrano, CA. The filing details its financial performance and business operations for the year.

Why It Matters

This filing provides investors and analysts with a comprehensive overview of Ensign Group's financial health and operational performance for the 2024 fiscal year, crucial for understanding its market position and future prospects.

Risk Assessment

Risk Level: medium — This is a standard annual report filing providing historical financial data and business overview, without immediate new material risks or opportunities presented in the provided snippet.

Key Players & Entities

• ENSIGN GROUP, INC (company) — Filer
• 2024-12-31 (date) — Fiscal Year End
• 2025-02-05 (date) — Filing Date
• San Juan Capistrano, CA (location) — Business Address City, State

FAQ

Key Financial Figures

• $0.001 — ich registered Common Stock, par value $0.001 per share ENSG NASDAQ Global Select Mar
• $2,620,517,000 — nt have been excluded (in the amount of $2,620,517,000) in that such persons may be deemed to
• $95.1 m — , 2024, we generated rental revenues of $95.1 million, of which $78.1 million was deriv
• $78.1 million — tal revenues of $95.1 million, of which $78.1 million was derived from our independent subsid

Filing Documents

• ensg-20241231.htm (10-K) — 3275KB
• ensgq42024ex191.htm (EX-19.1) — 73KB
• ensgq42024ex192.htm (EX-19.2) — 42KB
• ensg123124ex211.htm (EX-21.1) — 567KB
• ensg123124ex231.htm (EX-23.1) — 2KB
• ensgq42024ex311.htm (EX-31.1) — 12KB
• ensgq42024ex312.htm (EX-31.2) — 13KB
• ensgq42024ex321.htm (EX-32.1) — 11KB
• ensgq42024ex322.htm (EX-32.2) — 11KB
• ensg-20241231_g1.jpg (GRAPHIC) — 13KB
• ensg-20241231_g2.jpg (GRAPHIC) — 52KB
• ensg-20241231_g3.jpg (GRAPHIC) — 52KB
• ensg-20241231_g4.jpg (GRAPHIC) — 55KB
• ensg-20241231_g5.jpg (GRAPHIC) — 55KB
• ensg-20241231_g6.jpg (GRAPHIC) — 109KB
• 0001125376-25-000021.txt ( ) — 15872KB
• ensg-20241231.xsd (EX-101.SCH) — 84KB
• ensg-20241231_cal.xml (EX-101.CAL) — 117KB
• ensg-20241231_def.xml (EX-101.DEF) — 484KB
• ensg-20241231_lab.xml (EX-101.LAB) — 985KB
• ensg-20241231_pre.xml (EX-101.PRE) — 787KB
• ensg-20241231_htm.xml (XML) — 2309KB

Business

Business 1 Item 1A.

Risk Factors

Risk Factors 33 Item 1B. Unresolved Staff Comments 63 Item 1C. Cybersecurity 63 Item 2.

Properties

Properties 65 Item 3.

Legal Proceedings

Legal Proceedings 67 Item 4. Mine Safety Disclosures 70 PART II. Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 70 Item 6. [RESERVED] 71 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 71 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 90 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 91 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 127 Item 9A.

Controls and Procedures

Controls and Procedures 127 Item 9B. Other Information 129 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 129 PART III. Item 10. Directors, Executive Officers and Corporate Governance 129 Item 11.

Executive Compensation

Executive Compensation 129 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholders Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholders Matters 129 Item 13. Certain Relationships and Related Transactions and Director Independence 129 Item 14. Principal Accountant Fees and Services 129 PART IV. Item 15. Exhibits and Financial Statement Schedules 130 Item 16. Form 10-K Summary 132

Signatures

Signatures 133 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains forward-looking statements, which include, but are not limited to our expected future financial position, results of operations, cash flows, financing plans, business strategy, budgets, capital expenditures, competitive positions, growth opportunities and plans and objectives of management. Forward-looking statements can often be identified by words such as "anticipates," "expects," "intends," "plans," "predicts," "believes," "seeks," "estimates," "may," "will," "should," "would," "could," "potential," "continue," "ongoing," similar expressions, and variations or negatives of these words. These statements are subject to the safe harbors under Private Securities Litigation Reform Act of 1995. These statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict. Therefore, our actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors, some of which are listed under the section "Risk Factors" in Part I, Item 1A of this Annual Report on Form 10-K. Accordingly, you should not rely upon forward-looking statements as predictions of future events. These forward-looking statements speak only as of the date of this Annual Report on Form 10-K, and are based on our current expectations, estimates and projections about our industry and business, management's beliefs, and certain assumptions made by us, all of which are subject to change. We undertake no obligation to revise or update publicly any forward-looking statement for any reason, except as otherwise required by law. As used in this Annual Report on Form 10-K, the words, "Ensign," "Company," "we," "our" and "us" refer to The Ensign Group, Inc. and its consolidated subsidiaries. All of our independent subsidiaries, the Service Center (defined below) and ou

BUSINESS

ITEM 1. BUSINESS Founded in 1999, The Ensign Group, Inc. (Ensign) is a holding company with independent subsidiaries that provide skilled nursing, senior living and rehabilitative services, as well as other ancillary businesses (including mobile diagnostics and medical transportation), in 15 states. As part of our investment strategy, we also acquire, lease and own healthcare real estate to service the post-acute care continuum through acquisition and investment opportunities in healthcare properties. For the year ended December 31, 2024, we generated approximately 95.7% of our revenue from our skilled nursing facilities. The remainder of our revenue is primarily generated from our real estate properties, senior living services and other ancillary services. OPERATIONS Overview As of December 31, 2024, we offered skilled nursing, senior living and rehabilitative care services through 327 skilled nursing and senior living facilities. Of the 327 facilities, we operated 231 facilities under long-term lease arrangements and have options to purchase 12 of those 231 facilities. Our real estate portfolio consists of 129 owned real estate properties, which included 96 facilities operated and managed by us, 33 operations leased to and operated by third-party operators, and the Service Center's California location. Of the 33 third-party operations, one senior living operation is located on the same real estate property as a skilled nursing operation that we own and operate. Our Unique Approach and Structure The name "Ensign" is synonymous with a "flag" or a "standard" and refers to our goal of setting the standard by which all others in our industry are measured. We believe that through our efforts and leadership, we can foster a new level of patient care and professional competence at our independent subsidiaries and set a new industry standard for each patient we service. We view healthcare services primarily as a local business. We believe our success is largely drive

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View this 10-K filing on SEC EDGAR