PACS Group Financials
This page shows PACS Group (PACS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 4 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Scale is again translating into profit as cash conversion stays stronger than earnings and leverage keeps easing.
FY2025’s profit rebound looks higher quality than a simple margin bounce: operating cash flow stayed above net income for a second year, and accounts receivable fell to$628.1M even as revenue added nearly$1.2B . That combination implies the company did not need to loosen collections to turn faster growth into cash.
The clearest operating shift is fixed-cost absorption: gross profit expanded much faster than overhead in FY2025, so more of each new revenue dollar reached operating income. Operating margin recovered to
The balance sheet is also becoming less debt-led, with debt-to-equity down to 0.3x from 2.0x since FY2023 as equity built faster than liabilities. Liquidity remains fairly tight at a current ratio of 1.1x, so the business now looks better capitalized without carrying a large short-term buffer.
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of PACS Group's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
PACS Group has an operating margin of 5.9%, meaning the company retains $6 of operating profit per $100 of revenue. This results in a moderate score of 57/100, indicating healthy but not exceptional operating efficiency. This is up from 3.0% the prior year.
PACS Group's revenue surged 29.3% year-over-year to $5.3B, reflecting rapid business expansion. This strong growth earns a score of 89/100.
PACS Group carries a low D/E ratio of 0.26, meaning only $0.26 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 71/100, indicating a strong balance sheet with room for future borrowing.
PACS Group's current ratio of 1.07 is below the typical benchmark, resulting in a score of 22/100. This tight liquidity could limit financial flexibility if cash inflows slow.
PACS Group's ROE of 20.2% shows moderate profitability relative to equity, earning a score of 56/100. This is up from 7.9% the prior year.
PACS Group scores 2.12, placing it in the grey zone between 1.81 and 2.99. This signals moderate financial risk that warrants monitoring.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
PACS Group passes 8 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, PACS Group generates $2.11 in operating cash flow ($404.2M OCF vs $191.5M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
PACS Group earns $10.9 in operating income for every $1 of interest expense ($309.6M vs $28.4M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
PACS Group generated $5.3B in revenue in fiscal year 2025. This represents an increase of 29.3% from the prior year.
PACS Group reported $191.5M in net income in fiscal year 2025. This represents an increase of 243.5% from the prior year.
PACS Group earned $1.22 per diluted share (EPS) in fiscal year 2025. This represents an increase of 221.1% from the prior year.
Cash & Balance Sheet
PACS Group held $197.0M in cash against $244.8M in long-term debt as of fiscal year 2025.
PACS Group had 157M shares outstanding in fiscal year 2025. This represents an increase of 0.9% from the prior year.
Margins & Returns
PACS Group's gross margin was 21.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 2.5 percentage points from the prior year.
PACS Group's operating margin was 5.9% in fiscal year 2025, reflecting core business profitability. This is up 2.8 percentage points from the prior year.
PACS Group's net profit margin was 3.6% in fiscal year 2025, showing the share of revenue converted to profit. This is up 2.3 percentage points from the prior year.
PACS Group's ROE was 20.2% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 12.4 percentage points from the prior year.
Capital Allocation
PACS Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.4B+4.6% | $1.4B+1.0% | $1.3B+2.7% | $1.3B+2.5% | $1.3B+5.7% | $1.2B+17.7% | $1.0B+9.7% | $935.7M |
| Cost of Revenue | $1.1B+3.4% | $1.0B-0.7% | $1.0B+2.5% | $1.0B-0.3% | $1.0B+7.8% | $949.4M+11.7% | $849.6M+11.5% | $762.1M |
| Gross Profit | $346.0M+8.4% | $319.2M+7.0% | $298.3M+3.4% | $288.4M+13.8% | $253.4M-2.0% | $258.5M+46.3% | $176.7M+1.8% | $173.6M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $112.3M-1.0% | $113.5M+10.7% | $102.5M+2.2% | $100.3M+1.6% | $98.7M+10.1% | $89.6M+27.0% | $70.6M-48.4% | $136.7M |
| Operating Income | $120.0M+26.8% | $94.7M+9.8% | $86.3M+7.2% | $80.5M+67.2% | $48.1M-33.1% | $72.0M+213.4% | $23.0M+161.8% | -$37.2M |
| Interest Expense | $6.4M-25.1% | $8.6M+0.6% | $8.5M+95.9% | $4.4M-36.9% | $6.9M-25.8% | $9.3M+3.0% | $9.0M-8.9% | $9.9M |
| Income Tax | $33.1M+22.4% | $27.0M+12.8% | $24.0M-13.3% | $27.6M+92.7% | $14.3M-42.6% | $25.0M+43.3% | $17.4M+191.2% | -$19.1M |
| Net Income | $80.7M+35.2% | $59.7M+13.9% | $52.4M+2.8% | $51.0M+79.0% | $28.5M-23.5% | $37.2M+138.2% | $15.6M+149.0% | -$31.9M |
| EPS (Diluted) | $0.50 | N/A | $0.32+3.2% | $0.31+82.4% | $0.17 | N/A | $0.10+147.6% | $-0.21 |
PACS Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $5.7B+1.4% | $5.6B-0.8% | $5.6B+2.3% | $5.5B+0.1% | $5.5B+4.8% | $5.2B+16.1% | $4.5B+14.8% | $3.9B |
| Current Assets | $1.1B-0.2% | $1.1B-5.1% | $1.1B+4.6% | $1.1B-0.4% | $1.1B+15.3% | $938.3M+27.7% | $734.8M-3.8% | $763.7M |
| Cash & Equivalents | $248.0M+25.9% | $197.0M-44.6% | $355.7M+20.9% | $294.2M+2.3% | $287.5M+82.3% | $157.7M+218.4% | $49.5M-32.5% | $73.4M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $648.0M+3.2% | $628.1M0.0% | $628.3M-1.5% | $638.1M-6.3% | $680.7M+6.1% | $641.8M+11.7% | $574.6M-0.9% | $580.1M |
| Goodwill | $61.8M0.0% | $61.8M | N/A | N/A | N/A | $60.8M | N/A | N/A |
| Total Liabilities | $4.6B-0.2% | $4.6B-2.5% | $4.7B+1.3% | $4.7B-1.0% | $4.7B+4.7% | $4.5B+17.6% | $3.8B+13.6% | $3.4B |
| Current Liabilities | $1.1B+7.2% | $1.0B-16.4% | $1.2B+2.6% | $1.2B+5.4% | $1.1B+13.2% | $978.4M+43.5% | $681.7M+39.6% | $488.2M |
| Long-Term Debt | $239.8M-2.0% | $244.8M-0.4% | $245.9M-0.4% | $247.0M-0.8% | $249.1M-0.8% | $251.0M-1.0% | $253.6M+11.7% | $227.1M |
| Total Equity | $1.0B+9.5% | $946.8M+8.7% | $871.3M+8.0% | $806.8M+7.5% | $750.2M+5.7% | $709.6M+7.5% | $660.0M+23.0% | $536.8M |
| Retained Earnings | $390.3M+26.1% | $309.6M+23.9% | $249.9M+26.5% | $197.5M+34.8% | $146.5M+24.1% | $118.0M+46.0% | $80.8M+24.0% | $65.2M |
PACS Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $236.3M+7071.5% | -$3.4M-101.7% | $204.8M+289.5% | $52.6M-65.0% | $150.2M+132.6% | $64.6M-69.1% | $209.2M+501.7% | $34.8M |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | -$127.0M-7.5% | -$118.1M-21.7% | -$97.1M-199.5% | -$32.4M-97.4% | -$16.4M+84.3% | -$104.3M-5.7% | -$98.7M+18.4% | -$121.0M |
| Financing Cash Flow | -$67.7M-1138.1% | -$5.5M+88.2% | -$46.3M-252.8% | -$13.1M-223.1% | -$4.1M-102.9% | $138.6M+209.7% | -$126.4M-278.5% | $70.8M |
| Dividends Paid | N/A | $0 | $0 | $0 | $0 | $0 | $0-100.0% | $16.2M |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
PACS Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 24.3%+0.8pp | 23.5%+1.3pp | 22.2%+0.2pp | 22.0%+2.2pp | 19.8%-1.6pp | 21.4%+4.2pp | 17.2%-1.3pp | 18.6% |
| Operating Margin | 8.5%+1.5pp | 7.0%+0.6pp | 6.4%+0.3pp | 6.2%+2.4pp | 3.8%-2.2pp | 6.0%+3.7pp | 2.2%+6.2pp | -4.0% |
| Net Margin | 5.7%+1.3pp | 4.4%+0.5pp | 3.9%+0.0pp | 3.9%+1.7pp | 2.2%-0.9pp | 3.1%+1.6pp | 1.5%+4.9pp | -3.4% |
| Return on Equity | 7.8%+1.5pp | 6.3%+0.3pp | 6.0%-0.3pp | 6.3%+2.5pp | 3.8%-1.4pp | 5.2%+2.9pp | 2.4%+8.3pp | -5.9% |
| Return on Assets | 1.4%+0.4pp | 1.1%+0.1pp | 0.9%0.0pp | 0.9%+0.4pp | 0.5%-0.2pp | 0.7%+0.4pp | 0.4%+1.2pp | -0.8% |
| Current Ratio | 0.99-0.1 | 1.07+0.1 | 0.94+0.0 | 0.92-0.1 | 0.98+0.0 | 0.96-0.1 | 1.08-0.5 | 1.56 |
| Debt-to-Equity | 0.23-0.0 | 0.26-0.0 | 0.28-0.0 | 0.31-0.0 | 0.33-0.0 | 0.35-0.0 | 0.38-0.0 | 0.42 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Similar Companies
Frequently Asked Questions
What is PACS Group's annual revenue?
PACS Group (PACS) reported $5.3B in total revenue for fiscal year 2025. This represents a 29.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is PACS Group's revenue growing?
PACS Group (PACS) revenue grew by 29.3% year-over-year, from $4.1B to $5.3B in fiscal year 2025.
Is PACS Group profitable?
Yes, PACS Group (PACS) reported a net income of $191.5M in fiscal year 2025, with a net profit margin of 3.6%.
How much debt does PACS Group have?
As of fiscal year 2025, PACS Group (PACS) had $197.0M in cash and equivalents against $244.8M in long-term debt.
What is PACS Group's gross margin?
PACS Group (PACS) had a gross margin of 21.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is PACS Group's operating margin?
PACS Group (PACS) had an operating margin of 5.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is PACS Group's net profit margin?
PACS Group (PACS) had a net profit margin of 3.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is PACS Group's return on equity (ROE)?
PACS Group (PACS) has a return on equity of 20.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is PACS Group's operating cash flow?
PACS Group (PACS) generated $404.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are PACS Group's total assets?
PACS Group (PACS) had $5.6B in total assets as of fiscal year 2025, including both current and long-term assets.
What is PACS Group's current ratio?
PACS Group (PACS) had a current ratio of 1.07 as of fiscal year 2025, which is considered adequate.
What is PACS Group's debt-to-equity ratio?
PACS Group (PACS) had a debt-to-equity ratio of 0.26 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is PACS Group's return on assets (ROA)?
PACS Group (PACS) had a return on assets of 3.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is PACS Group's Altman Z-Score?
PACS Group (PACS) has an Altman Z-Score of 2.12, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is PACS Group's Piotroski F-Score?
PACS Group (PACS) has a Piotroski F-Score of 8 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are PACS Group's earnings high quality?
PACS Group (PACS) has an earnings quality ratio of 2.11x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can PACS Group cover its interest payments?
PACS Group (PACS) has an interest coverage ratio of 10.9x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is PACS Group?
PACS Group (PACS) scores 49 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.