PACS Group, Inc.PACS
NYSE•Healthcare•Medical Care Facilities
PACS Group, Inc., through its subsidiaries, operates skilled nursing facilities and assisted living facilities in the United States. It also provides senior care and independent living facilities. The company engages in the acquisition, ownership, and leasing of health care-related properties. PACS Group, Inc. was founded in 2013 and is headquartered in Salt Lake City, Utah.
PACS Group, Inc. (PACS) reported trailing twelve months revenue of $5.43B as of March 2026, a 22.6% increase year-over-year. Quarterly revenue reached $1.42B, reflecting continued top-line momentum.
PACS Group, Inc. generated $243.77M in TTM net income, with quarterly EBITDA of $138.11M. The operating margin expanded from 3.8% to 8.5%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (8.5%) and net margin (5.7%) indicates tight cost control with minimal non-operating drag. Net margin has improved from 2.2% a year ago, signaling stronger bottom-line efficiency.
PACS trades at a P/E of 22.7x (in line with broad market averages) and a P/S of 1.0x. The price-to-book ratio of 5.3x indicates a significant premium over book value.
The company generated $214.51M in free cash flow over the trailing twelve months, a 61.9% increase year-over-year, indicating strong cash generation ability. The balance sheet shows $5.66B in total assets with $239.81M in long-term debt against $1.04B in stockholders equity for a debt-to-equity ratio of 0.2, a conservative capital structure. Data based on the most recent quarterly reports.
Competitive analysis based on 9 quarters of fundamental data
Operating margins are positive at ~4.5% on average, but show some variability — pricing power may be sensitive to market conditions.
ROE is positive at ~13.9% on average, adequate but below the threshold typically associated with wide moats.
7 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
Revenue has been flat or declining over recent quarters, which may indicate eroding demand or competitive pressure.
Data-driven red flags and warnings across 9 quarters
Margins are stable or improving at ~7.0% — no sign of cost or pricing stress.
FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.
D/E ratio is 0.2 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares outstanding increased 5.1% — significant dilution, likely from stock compensation or capital raises.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation