NYSE : PACS

PACS Group, Inc. — Financial statements

Healthcare · Medical Care Facilities · United States

Last price 49.68 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 7.87B

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Financial statements

PACS Group, Inc. (PACS) reported revenue of 5.55B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.

Income statement

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Operating Revenue5.55B5.29B4.09B3.11B2.40B1.14B
Other Revenue1.56M1.05M3.08M1.38M22.84M30.65M
Revenue5.55B5.29B4.09B3.11B2.42B1.17B
Cost of Revenue4.59B4.47B3.55B2.64B2.00B969.88M
Gross Profit961.21M818.95M539.17M473.47M421.93M196.68M
Selling, General & Admin482.91M453.69M375.29M240.06M170.26M106.17M
Operating Expenses550.89M509.35M416.10M265.69M192.57M113.32M
Operating Income410.32M309.60M123.07M207.77M229.36M83.36M
Interest Expense-29.57M-28.36M-44.34M-49.92M-25.54M-5.28M
Earnings From Equity Investments1.50M232.00K
Other Non Operating Income (Expenses)433.00K3.22M327.00K-536.00K3.22M3.11M
EBT Excluding Unusual Items382.68M284.45M79.06M157.32M207.04M81.43M
Gain (Loss) on Sale of Investments-2.74M
Other Unusual Items25.23M
Pretax Income382.68M284.45M101.55M157.32M207.04M81.43M
Income Tax Expense113.55M92.99M46.21M44.44M56.55M33.48M
Earnings From Continuing Operations269.13M191.46M55.34M112.88M150.50M47.95M
Minority Interest in Earnings41.00K82.00K416.00K-8.00K
Net Income269.17M191.54M55.76M112.87M150.50M47.95M
Net Income to Common269.17M191.54M55.76M112.87M150.50M47.95M
Shares Outstanding (Basic)157.10M156.18M146.66M128.72M128.72M128.72M
Shares Outstanding (Diluted)157.10M156.70M148.57M128.72M128.72M128.72M
EPS (Basic)1.711.230.380.881.170.37
EPS (Diluted)1.711.220.380.881.170.37
Free Cash Flow455.78M298.82M300.88M17.91M69.75M-66.48M
Free Cash Flow Per Share2.901.912.020.140.54-0.52
Dividend Per Share0.220.620.470.26
Gross Margin17.32%15.48%13.18%15.22%17.42%16.86%
Operating Margin7.39%5.85%3.01%6.68%9.47%7.15%
Profit Margin4.85%3.62%1.36%3.63%6.21%4.11%
Free Cash Flow Margin8.21%5.65%7.36%0.58%2.88%-5.70%
EBITDA478.30M365.26M163.88M233.40M251.67M90.51M
EBITDA Margin8.62%6.91%4.01%7.50%10.39%7.76%
D&A For EBITDA67.98M55.66M40.81M25.63M22.31M7.15M
EBIT410.32M309.60M123.07M207.77M229.36M83.36M
EBIT Margin7.39%5.85%3.01%6.68%9.47%7.15%
Effective Tax Rate29.67%32.69%45.50%28.25%27.31%41.12%
Revenue as Reported5.55B5.29B4.09B3.11B2.42B1.17B
Advertising Expenses11.23M7.63M7.13M5.41M4.87M

Balance sheet

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Cash & Equivalents164.45M197.02M157.67M73.42M58.27M
Cash & Short-Term Investments164.45M197.02M157.67M73.42M58.27M
Accounts Receivable634.50M628.13M641.77M547.81M370.92M
Other Receivables89.41M73.97M74.75M52.26M49.20M
Receivables723.91M702.09M716.52M600.07M420.12M
Prepaid Expenses61.53M135.59M60.90M43.69M24.92M
Restricted Cash12.46M35.03M3.17M4.98M7.85M
Total Current Assets962.35M1.07B938.26M722.15M511.16M
Property, Plant & Equipment4.26B4.17B3.99B2.59B1.78B
Long-Term Investments29.23M12.36M12.02M
Goodwill61.79M61.79M60.79M59.02M55.22M
Other Intangible Assets6.27M6.27M6.27M6.27M6.27M
Long-Term Deferred Tax Assets63.96M46.23M1.75M
Long-Term Deferred Charges7.36M8.87M11.89M
Other Long-Term Assets329.14M204.13M194.37M125.85M101.61M
Total Assets5.66B5.58B5.24B3.51B2.46B
Accounts Payable160.88M192.23M175.06M140.95M110.58M
Accrued Expenses520.08M441.61M343.31M188.78M190.86M
Short-Term Debt142.00M
Current Portion of Long-Term Debt7.38M4.46M14.85M16.82M61.36M
Current Portion of Leases185.59M182.00M157.41M110.38M121.07M
Other Current Liabilities181.13M181.13M145.79M
Total Current Liabilities1.06B1.00B978.43M456.93M483.86M
Long-Term Debt238.71M344.80M250.98M715.71M438.34M
Long-Term Leases2.97B3.07B3.06B2.00B1.30B
Pension & Post-Retirement Benefits15.29M
Long-Term Deferred Tax Liabilities8.18M
Other Long-Term Liabilities273.91M218.54M236.56M235.62M142.79M
Total Liabilities4.54B4.63B4.53B3.41B2.39B
Common Stock158.00K157.00K155.00K129.00K1.00K
Additional Paid-In Capital643.60M637.03M591.36M
Retained Earnings466.64M309.58M118.04M96.00M63.65M
Total Common Equity1.11B946.77M709.55M96.13M63.65M
Minority Interest5.00M5.68M6.14M5.60M5.00M
Shareholders' Equity1.12B952.45M715.69M101.73M68.65M
Total Liabilities & Equity5.66B5.58B5.24B3.51B2.46B
Total Debt3.40B3.60B3.63B2.85B1.93B
Net Cash (Debt)-3.24B-3.40B-3.47B-2.77B-1.87B
Net Cash Per Share-20.63-21.70-23.35-21.54-14.51
Filing Date Shares Outstanding158.34M157.17M156.62M128.72M128.72M128.72M
Total Common Shares Outstanding158.34M156.62M155.18M128.72M128.72M128.72M
Working Capital-92.70M68.31M-40.17M265.22M27.30M
Book Value Per Share7.016.054.570.750.49
Tangible Book Value1.04B878.71M642.49M30.84M2.15M
Tangible Book Value Per Share6.585.614.140.240.02
Land106.69M94.02M84.77M55.59M36.36M
Buildings984.83M823.49M654.98M372.55M265.52M
Machinery144.69M131.81M107.90M64.75M46.84M
Construction In Progress39.26M24.57M23.95M50.94M39.81M
Leasehold Improvements149.20M125.83M79.44M58.96M47.24M

Cash flow statement

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Net Income269.17M191.54M55.76M112.87M150.50M47.95M
Depreciation & Amortization67.98M55.66M40.81M25.63M22.31M7.15M
Other Amortization3.15M3.15M3.12M6.07M1.21M902.00K
Loss (Gain) From Sale of Assets-2.97M
Loss (Gain) From Sale of Investments-232.00K
Loss (Gain) on Equity Investments-724.00K773.00K4.57M391.00K346.00K
Stock-Based Compensation74.44M54.07M115.54M
Other Operating Activities5.89M26.32M-10.67M13.39M12.55M9.16M
Change in Accounts Receivable3.63M13.65M-93.97M-176.88M-114.42M-36.90M
Change in Accounts Payable-13.34M14.86M33.40M33.37M32.81M30.78M
Change in Other Net Operating Assets163.05M44.21M218.79M48.85M-12.68M1.77M
Operating Cash Flow573.25M404.22M367.34M63.70M92.61M57.60M
Capital Expenditures-117.47M-105.41M-66.47M-45.78M-22.86M-124.09M
Sale of Property, Plant & Equipment750.00K750.00K1.50M750.00K10.00K
Cash Acquisitions-334.31M-143.75M-283.34M-127.02M-55.37M-79.68M
Investment in Securities-46.88M-15.62M-94.37M-735.00K2.90M-14.84M
Investing Cash Flow-497.90M-264.02M-442.68M-172.79M-75.32M-218.60M
Long-Term Debt Issued748.30M1.27B242.43M622.40M
Long-Term Debt Repaid-60.22M-1.07B-1.06B-173.05M-386.55M
Net Debt Issued (Repaid)-155.23M-60.22M-325.15M209.40M69.38M235.84M
Issuance of Common Stock509.44M
Repurchase of Common Stock-40.07M-8.39M-33.60M
Common Dividends Paid-33.72M-80.39M-60.28M-53.80M
Other Financing Activities-769.00K-377.00K502.00K587.00K3.25M
Financing Cash Flow-196.07M-68.99M117.48M129.59M12.35M182.05M
Net Cash Flow-120.73M71.21M42.14M20.50M29.64M21.05M
Free Cash Flow455.78M298.82M300.88M17.91M69.75M-66.48M
Free Cash Flow Margin8.21%5.65%7.36%0.58%2.88%-5.70%
Free Cash Flow Per Share2.901.912.020.140.54-0.52
Levered Free Cash Flow378.32M241.90M344.80M-82.97M
Unlevered Free Cash Flow393.65M256.48M369.40M-57.84M
Cash Interest Paid39.81M40.51M48.25M50.56M25.91M6.94M
Cash Income Tax Paid26.55M84.05M107.83M60.01M42.55M29.11M
Change in Working Capital153.34M72.71M158.22M-94.66M-94.29M-4.36M

Ratios

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Market Capitalization7.45B6.01B2.03B
Enterprise Value10.69B9.32B4.68B
Last Close Price47.8138.3913.11
PE Ratio27.5031.3936.48
Forward PE18.8619.787.65
PS Ratio1.361.140.50
PB Ratio6.826.312.84
P/TBV Ratio7.266.843.17
P/FCF Ratio16.6120.126.76
P/OCF Ratio13.2114.875.54
PEG Ratio1.261.320.51
EV/Sales Ratio1.951.761.15
EV/EBITDA Ratio22.6025.5128.56
EV/EBIT Ratio26.3530.0938.03
EV/FCF Ratio23.7231.1815.56
Debt / Equity Ratio3.053.785.0727.9728.05
Debt / EBITDA Ratio3.774.587.515.964.44
Debt / FCF Ratio7.4712.0412.05158.8427.61
Net Debt / Equity Ratio2.903.574.8527.2527.20
Net Debt / EBITDA Ratio6.789.3121.1711.887.42
Net Debt / FCF Ratio7.1111.3811.53154.7526.77
Asset Turnover0.990.980.931.04
Quick Ratio0.840.900.891.470.99
Current Ratio0.911.070.961.581.06
Return on Equity (ROE)27.92%22.96%13.54%132.51%
Return on Assets (ROA)4.60%3.57%1.76%4.35%
Return on Invested Capital (ROIC)6.67%4.88%1.90%6.20%8.61%
Return on Capital Employed (ROCE)8.90%6.80%2.90%6.80%11.60%
Earnings Yield3.64%3.19%2.74%
FCF Yield6.02%4.97%14.79%
Dividend Yield1.66%
Payout Ratio60.48%71.23%40.05%112.20%
Buyback Yield / Dilution2.85%-5.47%-15.42%
Total Shareholder Return2.85%-5.47%-13.76%