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
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
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.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 5.55B | 5.29B | 4.09B | 3.11B | 2.40B | 1.14B |
| Other Revenue | 1.56M | 1.05M | 3.08M | 1.38M | 22.84M | 30.65M |
| Revenue | 5.55B | 5.29B | 4.09B | 3.11B | 2.42B | 1.17B |
| Cost of Revenue | 4.59B | 4.47B | 3.55B | 2.64B | 2.00B | 969.88M |
| Gross Profit | 961.21M | 818.95M | 539.17M | 473.47M | 421.93M | 196.68M |
| Selling, General & Admin | 482.91M | 453.69M | 375.29M | 240.06M | 170.26M | 106.17M |
| Operating Expenses | 550.89M | 509.35M | 416.10M | 265.69M | 192.57M | 113.32M |
| Operating Income | 410.32M | 309.60M | 123.07M | 207.77M | 229.36M | 83.36M |
| Interest Expense | -29.57M | -28.36M | -44.34M | -49.92M | -25.54M | -5.28M |
| Earnings From Equity Investments | 1.50M | 232.00K | ||||
| Other Non Operating Income (Expenses) | 433.00K | 3.22M | 327.00K | -536.00K | 3.22M | 3.11M |
| EBT Excluding Unusual Items | 382.68M | 284.45M | 79.06M | 157.32M | 207.04M | 81.43M |
| Gain (Loss) on Sale of Investments | -2.74M | |||||
| Other Unusual Items | 25.23M | |||||
| Pretax Income | 382.68M | 284.45M | 101.55M | 157.32M | 207.04M | 81.43M |
| Income Tax Expense | 113.55M | 92.99M | 46.21M | 44.44M | 56.55M | 33.48M |
| Earnings From Continuing Operations | 269.13M | 191.46M | 55.34M | 112.88M | 150.50M | 47.95M |
| Minority Interest in Earnings | 41.00K | 82.00K | 416.00K | -8.00K | ||
| Net Income | 269.17M | 191.54M | 55.76M | 112.87M | 150.50M | 47.95M |
| Net Income to Common | 269.17M | 191.54M | 55.76M | 112.87M | 150.50M | 47.95M |
| Shares Outstanding (Basic) | 157.10M | 156.18M | 146.66M | 128.72M | 128.72M | 128.72M |
| Shares Outstanding (Diluted) | 157.10M | 156.70M | 148.57M | 128.72M | 128.72M | 128.72M |
| EPS (Basic) | 1.71 | 1.23 | 0.38 | 0.88 | 1.17 | 0.37 |
| EPS (Diluted) | 1.71 | 1.22 | 0.38 | 0.88 | 1.17 | 0.37 |
| Free Cash Flow | 455.78M | 298.82M | 300.88M | 17.91M | 69.75M | -66.48M |
| Free Cash Flow Per Share | 2.90 | 1.91 | 2.02 | 0.14 | 0.54 | -0.52 |
| Dividend Per Share | 0.22 | 0.62 | 0.47 | 0.26 | ||
| Gross Margin | 17.32% | 15.48% | 13.18% | 15.22% | 17.42% | 16.86% |
| Operating Margin | 7.39% | 5.85% | 3.01% | 6.68% | 9.47% | 7.15% |
| Profit Margin | 4.85% | 3.62% | 1.36% | 3.63% | 6.21% | 4.11% |
| Free Cash Flow Margin | 8.21% | 5.65% | 7.36% | 0.58% | 2.88% | -5.70% |
| EBITDA | 478.30M | 365.26M | 163.88M | 233.40M | 251.67M | 90.51M |
| EBITDA Margin | 8.62% | 6.91% | 4.01% | 7.50% | 10.39% | 7.76% |
| D&A For EBITDA | 67.98M | 55.66M | 40.81M | 25.63M | 22.31M | 7.15M |
| EBIT | 410.32M | 309.60M | 123.07M | 207.77M | 229.36M | 83.36M |
| EBIT Margin | 7.39% | 5.85% | 3.01% | 6.68% | 9.47% | 7.15% |
| Effective Tax Rate | 29.67% | 32.69% | 45.50% | 28.25% | 27.31% | 41.12% |
| Revenue as Reported | 5.55B | 5.29B | 4.09B | 3.11B | 2.42B | 1.17B |
| Advertising Expenses | 11.23M | 7.63M | 7.13M | 5.41M | 4.87M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 164.45M | 197.02M | 157.67M | 73.42M | 58.27M | |
| Cash & Short-Term Investments | 164.45M | 197.02M | 157.67M | 73.42M | 58.27M | |
| Accounts Receivable | 634.50M | 628.13M | 641.77M | 547.81M | 370.92M | |
| Other Receivables | 89.41M | 73.97M | 74.75M | 52.26M | 49.20M | |
| Receivables | 723.91M | 702.09M | 716.52M | 600.07M | 420.12M | |
| Prepaid Expenses | 61.53M | 135.59M | 60.90M | 43.69M | 24.92M | |
| Restricted Cash | 12.46M | 35.03M | 3.17M | 4.98M | 7.85M | |
| Total Current Assets | 962.35M | 1.07B | 938.26M | 722.15M | 511.16M | |
| Property, Plant & Equipment | 4.26B | 4.17B | 3.99B | 2.59B | 1.78B | |
| Long-Term Investments | 29.23M | 12.36M | 12.02M | |||
| Goodwill | 61.79M | 61.79M | 60.79M | 59.02M | 55.22M | |
| Other Intangible Assets | 6.27M | 6.27M | 6.27M | 6.27M | 6.27M | |
| Long-Term Deferred Tax Assets | 63.96M | 46.23M | 1.75M | |||
| Long-Term Deferred Charges | 7.36M | 8.87M | 11.89M | |||
| Other Long-Term Assets | 329.14M | 204.13M | 194.37M | 125.85M | 101.61M | |
| Total Assets | 5.66B | 5.58B | 5.24B | 3.51B | 2.46B | |
| Accounts Payable | 160.88M | 192.23M | 175.06M | 140.95M | 110.58M | |
| Accrued Expenses | 520.08M | 441.61M | 343.31M | 188.78M | 190.86M | |
| Short-Term Debt | 142.00M | |||||
| Current Portion of Long-Term Debt | 7.38M | 4.46M | 14.85M | 16.82M | 61.36M | |
| Current Portion of Leases | 185.59M | 182.00M | 157.41M | 110.38M | 121.07M | |
| Other Current Liabilities | 181.13M | 181.13M | 145.79M | |||
| Total Current Liabilities | 1.06B | 1.00B | 978.43M | 456.93M | 483.86M | |
| Long-Term Debt | 238.71M | 344.80M | 250.98M | 715.71M | 438.34M | |
| Long-Term Leases | 2.97B | 3.07B | 3.06B | 2.00B | 1.30B | |
| Pension & Post-Retirement Benefits | 15.29M | |||||
| Long-Term Deferred Tax Liabilities | 8.18M | |||||
| Other Long-Term Liabilities | 273.91M | 218.54M | 236.56M | 235.62M | 142.79M | |
| Total Liabilities | 4.54B | 4.63B | 4.53B | 3.41B | 2.39B | |
| Common Stock | 158.00K | 157.00K | 155.00K | 129.00K | 1.00K | |
| Additional Paid-In Capital | 643.60M | 637.03M | 591.36M | |||
| Retained Earnings | 466.64M | 309.58M | 118.04M | 96.00M | 63.65M | |
| Total Common Equity | 1.11B | 946.77M | 709.55M | 96.13M | 63.65M | |
| Minority Interest | 5.00M | 5.68M | 6.14M | 5.60M | 5.00M | |
| Shareholders' Equity | 1.12B | 952.45M | 715.69M | 101.73M | 68.65M | |
| Total Liabilities & Equity | 5.66B | 5.58B | 5.24B | 3.51B | 2.46B | |
| Total Debt | 3.40B | 3.60B | 3.63B | 2.85B | 1.93B | |
| 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 Outstanding | 158.34M | 157.17M | 156.62M | 128.72M | 128.72M | 128.72M |
| Total Common Shares Outstanding | 158.34M | 156.62M | 155.18M | 128.72M | 128.72M | 128.72M |
| Working Capital | -92.70M | 68.31M | -40.17M | 265.22M | 27.30M | |
| Book Value Per Share | 7.01 | 6.05 | 4.57 | 0.75 | 0.49 | |
| Tangible Book Value | 1.04B | 878.71M | 642.49M | 30.84M | 2.15M | |
| Tangible Book Value Per Share | 6.58 | 5.61 | 4.14 | 0.24 | 0.02 | |
| Land | 106.69M | 94.02M | 84.77M | 55.59M | 36.36M | |
| Buildings | 984.83M | 823.49M | 654.98M | 372.55M | 265.52M | |
| Machinery | 144.69M | 131.81M | 107.90M | 64.75M | 46.84M | |
| Construction In Progress | 39.26M | 24.57M | 23.95M | 50.94M | 39.81M | |
| Leasehold Improvements | 149.20M | 125.83M | 79.44M | 58.96M | 47.24M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 269.17M | 191.54M | 55.76M | 112.87M | 150.50M | 47.95M |
| Depreciation & Amortization | 67.98M | 55.66M | 40.81M | 25.63M | 22.31M | 7.15M |
| Other Amortization | 3.15M | 3.15M | 3.12M | 6.07M | 1.21M | 902.00K |
| Loss (Gain) From Sale of Assets | -2.97M | |||||
| Loss (Gain) From Sale of Investments | -232.00K | |||||
| Loss (Gain) on Equity Investments | -724.00K | 773.00K | 4.57M | 391.00K | 346.00K | |
| Stock-Based Compensation | 74.44M | 54.07M | 115.54M | |||
| Other Operating Activities | 5.89M | 26.32M | -10.67M | 13.39M | 12.55M | 9.16M |
| Change in Accounts Receivable | 3.63M | 13.65M | -93.97M | -176.88M | -114.42M | -36.90M |
| Change in Accounts Payable | -13.34M | 14.86M | 33.40M | 33.37M | 32.81M | 30.78M |
| Change in Other Net Operating Assets | 163.05M | 44.21M | 218.79M | 48.85M | -12.68M | 1.77M |
| Operating Cash Flow | 573.25M | 404.22M | 367.34M | 63.70M | 92.61M | 57.60M |
| Capital Expenditures | -117.47M | -105.41M | -66.47M | -45.78M | -22.86M | -124.09M |
| Sale of Property, Plant & Equipment | 750.00K | 750.00K | 1.50M | 750.00K | 10.00K | |
| Cash Acquisitions | -334.31M | -143.75M | -283.34M | -127.02M | -55.37M | -79.68M |
| Investment in Securities | -46.88M | -15.62M | -94.37M | -735.00K | 2.90M | -14.84M |
| Investing Cash Flow | -497.90M | -264.02M | -442.68M | -172.79M | -75.32M | -218.60M |
| Long-Term Debt Issued | 748.30M | 1.27B | 242.43M | 622.40M | ||
| Long-Term Debt Repaid | -60.22M | -1.07B | -1.06B | -173.05M | -386.55M | |
| Net Debt Issued (Repaid) | -155.23M | -60.22M | -325.15M | 209.40M | 69.38M | 235.84M |
| Issuance of Common Stock | 509.44M | |||||
| 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 | -377.00K | 502.00K | 587.00K | 3.25M | |
| Financing Cash Flow | -196.07M | -68.99M | 117.48M | 129.59M | 12.35M | 182.05M |
| Net Cash Flow | -120.73M | 71.21M | 42.14M | 20.50M | 29.64M | 21.05M |
| Free Cash Flow | 455.78M | 298.82M | 300.88M | 17.91M | 69.75M | -66.48M |
| Free Cash Flow Margin | 8.21% | 5.65% | 7.36% | 0.58% | 2.88% | -5.70% |
| Free Cash Flow Per Share | 2.90 | 1.91 | 2.02 | 0.14 | 0.54 | -0.52 |
| Levered Free Cash Flow | 378.32M | 241.90M | 344.80M | -82.97M | ||
| Unlevered Free Cash Flow | 393.65M | 256.48M | 369.40M | -57.84M | ||
| Cash Interest Paid | 39.81M | 40.51M | 48.25M | 50.56M | 25.91M | 6.94M |
| Cash Income Tax Paid | 26.55M | 84.05M | 107.83M | 60.01M | 42.55M | 29.11M |
| Change in Working Capital | 153.34M | 72.71M | 158.22M | -94.66M | -94.29M | -4.36M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 7.45B | 6.01B | 2.03B | |||
| Enterprise Value | 10.69B | 9.32B | 4.68B | |||
| Last Close Price | 47.81 | 38.39 | 13.11 | |||
| PE Ratio | 27.50 | 31.39 | 36.48 | |||
| Forward PE | 18.86 | 19.78 | 7.65 | |||
| PS Ratio | 1.36 | 1.14 | 0.50 | |||
| PB Ratio | 6.82 | 6.31 | 2.84 | |||
| P/TBV Ratio | 7.26 | 6.84 | 3.17 | |||
| P/FCF Ratio | 16.61 | 20.12 | 6.76 | |||
| P/OCF Ratio | 13.21 | 14.87 | 5.54 | |||
| PEG Ratio | 1.26 | 1.32 | 0.51 | |||
| EV/Sales Ratio | 1.95 | 1.76 | 1.15 | |||
| EV/EBITDA Ratio | 22.60 | 25.51 | 28.56 | |||
| EV/EBIT Ratio | 26.35 | 30.09 | 38.03 | |||
| EV/FCF Ratio | 23.72 | 31.18 | 15.56 | |||
| Debt / Equity Ratio | 3.05 | 3.78 | 5.07 | 27.97 | 28.05 | |
| Debt / EBITDA Ratio | 3.77 | 4.58 | 7.51 | 5.96 | 4.44 | |
| Debt / FCF Ratio | 7.47 | 12.04 | 12.05 | 158.84 | 27.61 | |
| Net Debt / Equity Ratio | 2.90 | 3.57 | 4.85 | 27.25 | 27.20 | |
| Net Debt / EBITDA Ratio | 6.78 | 9.31 | 21.17 | 11.88 | 7.42 | |
| Net Debt / FCF Ratio | 7.11 | 11.38 | 11.53 | 154.75 | 26.77 | |
| Asset Turnover | 0.99 | 0.98 | 0.93 | 1.04 | ||
| Quick Ratio | 0.84 | 0.90 | 0.89 | 1.47 | 0.99 | |
| Current Ratio | 0.91 | 1.07 | 0.96 | 1.58 | 1.06 | |
| 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 Yield | 3.64% | 3.19% | 2.74% | |||
| FCF Yield | 6.02% | 4.97% | 14.79% | |||
| Dividend Yield | 1.66% | |||||
| Payout Ratio | 60.48% | 71.23% | 40.05% | 112.20% | ||
| Buyback Yield / Dilution | 2.85% | -5.47% | -15.42% | |||
| Total Shareholder Return | 2.85% | -5.47% | -13.76% |