PACS PACS Group, Inc.

Overview and Growth

In fiscal 2025, PACS Group, Inc. recorded $5.29B of revenue, net income of $191.54M, and an operating cash inflow of $404.22M. The $5.29B revenue base provides substantial context for the company’s earnings, cash generation, and capital requirements. Compared with $4.09B in fiscal 2024, revenue recorded a 29.3% year-over-year increase. The company reported diluted EPS of $1.22, adding a shareholder-level measure to the absolute income figures considered below. Diluted EPS increased by 221.1% from $0.38 in fiscal 2024, showing how the earnings change reached shareholders on a per-share basis. The company employed $5.58B of total assets, the balance-sheet base supporting its current operating and cash-flow results. Revenue equaled 0.95x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.

Profitability

The first profit layer was $1.16B of gross profit, the amount available after reported direct revenue costs to absorb operating expenses. Gross profit represented 21.9% of revenue, showing how much of the top line remained after direct costs. Operations produced $309.60M of income after the reported operating expense base, before the remaining non-operating and tax effects. The operating result equaled 5.9% of revenue, placing the absolute operating-income figure in the context of the company’s sales base. Net income came to $191.54M, completing the progression from revenue through gross and operating profitability to the final reported result. The final earnings result represented 3.6% of revenue, connecting the absolute net income figure with the company’s top-line scale. The earnings statement records $284.45M of pretax income, the profit base against which the reported tax provision can be assessed. The pretax margin was 5.4%, relating income before taxes directly to revenue. Income tax expense totaled $92.99M, providing the reported tax component that separates pretax and after-tax earnings. The income-tax provision equaled 32.7% of pretax income, showing the tax burden absorbed by the year’s earnings. Return on period-end equity was 20.1%, relating annual net income to the equity capital on the balance sheet. Net income represented 3.4% of period-end assets, placing the company’s bottom-line result against the total resource base employed.

Liquidity and Capital Structure

At period end, the $5.58B asset base was financed through $4.63B of liabilities and $952.45M of equity. At period end, current assets of $1.07B compared with current liabilities of $1.00B, defining the company’s short-term resource position. Current assets covered current liabilities by 1.07x, leaving a positive buffer for near-term obligations. Cash and equivalents totaled $197.02M, identifying the most liquid reported component available within the broader current-asset balance. The cash balance equaled 19.7% of current liabilities, showing how much near-term coverage came from cash alone. Total debt was $249.27M, establishing the amount of borrowing carried within the company’s capital structure. Debt equaled 0.26x of book equity, describing the relative scale of borrowing and shareholder capital. The debt-to-assets relationship was 4.5%, comparing borrowing with the total asset balance. Relative to total assets, liabilities measured 82.9%, complementing the separate equity-based view of the company’s capital structure. Measured against total assets, cash and equivalents represented 3.5%, a balance-sheet composition measure rather than a liquidity forecast. Compared with $5.24B in fiscal 2024, the current asset base moved 6.5% and finished higher. Reported equity changed 33.1% from $715.69M in fiscal 2024, placing the current capital base higher year over year.

Cash Flow and Earnings Quality

Operating activities produced a cash inflow of $404.22M, giving the cash-flow counterpart to the accrual-based profit measures reported for the year. Operating cash flow equaled 2.11x of net income, showing how strongly accounting earnings converted into cash from operations.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Sep 24, 2026.