Latest revenue
$1.42B
as of 2026-03-31
Latest net income
$80.7M
as of 2026-03-31
Net margin
5.7%
as of 2026-03-31
Price · 5Y
Live market
delayed ≤15 min- Market cap
- $5.97B
- Enterprise value
- $5.97B
- P/E (trailing)
- 31.2×
- Forward P/E
- —
- P/B
- —
- Dividend yield
- 0.0%
- 52-wk high
- $43.08
- 52-wk low
- $7.50
- Beta
- —
- Shares out
- 158.3M
5-year trend
dashed bar = fiscal Q4 derived from 10-K annual − Q1 − Q2 − Q3 (SEC requires only three 10-Qs per year).
What this company does
PACS Group operates 321 skilled nursing facilities across 17 states, serving over 31,700 patients daily who need post-hospital recovery care. The company generates revenue primarily through Medicare and Medicaid reimbursements, which together accounted for roughly 74% of routine revenue on $5.3 billion in 2025 sales. PACS grows by acquiring underperforming custodial nursing homes and converting them into higher-margin short-term transitional care facilities, a strategy that has produced 30.4% revenue CAGR over three years.
Generated from PACS's filing dated 2026-02-27
Key risks
- Government payor concentration: Medicare and Medicaid accounted for 33.7% and 40.5% of routine revenue in 2025, exposing PACS to reimbursement rate cuts.
- Heavy lease burden: 219 of 321 facilities are leased (only 53 directly owned), creating fixed-cost obligations and limited real estate flexibility.
- Acquisition-dependent growth: 30.4% three-year revenue CAGR relies on acquiring/turning around underperforming SNFs; New facilities show weaker 81% occupancy vs. 95% Mature.
Generated from PACS's filing dated 2026-02-27
Profitability
Operating margin
5.9%
94.5%Net margin
3.6%
165.6%Return on equity
20.2%
157.4%Return on assets
3.4%
222.5%Leverage
Debt / equity
4.90×
23.3%Long-term debt / equity
0.26×
26.9%Debt / assets
83.0%
4.0%Earnings tracker
| Quarter | Revenue | YoY | Net income | YoY | Net margin |
|---|---|---|---|---|---|
Q1 2026 2026-03-31 | $1.42B | +11.2% | $80.7M | +183.4% | 5.7% |
Q3 2025 2025-09-30 | $1.34B | +31.2% | $52.4M | +235.5% | 3.9% |
Q1 2025 2025-03-31 | $1.28B | +36.7% | $28.5M | -42.1% | 2.2% |
Q4 2024 2024-12-31 | $1.15B | — | $1.9M | — | 0.2% |
Q3 2024 2024-09-30 | $1.02B | — | $15.6M | — | 1.5% |
Q2 2024 2024-06-30 | $981.4M | +29.1% | $-10.9M | -151.4% | -1.1% |
Q1 2024 2024-03-31 | $934.3M | — | $49.1M | — | 5.3% |
Q2 2023 2023-06-30 | $760.4M | — | $21.2M | — | 2.8% |
Year-over-year change vs the same fiscal quarter one year prior. Revenue + net income sourced from SEC 10-Q / 10-K filings — no analyst-consensus dependency.
Industry trend
Services-Skilled Nursing Care Facilities · SIC 8051
Your notes
Keep private notes on PACS — thesis, target price, catalysts to watch.
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Insider activity
Insider buying
$500.0K
Insider selling
$9.0M
Net activity
−$8.5M
Distinct insiders
3
Open-market trades over the last 365 days.
Recent transactions
Source: SEC Form 4 filings. Officers, directors, and 10%+ owners must disclose share transactions within two business days. RSU grants and tax-withholding rows are excluded by default — compensation activity is not a trading signal.
Who owns PACS
Institutional value
$520.8M
Total shares held
16.5M
Distinct holders
122
-65 vs prior
As of
2026-03-31
Prior: 2025-12-31
Filers with $100M+ AUM disclose holdings 45 days after quarter end.
Top institutional holders
| # | Manager | Shares | Value | QoQ change | Action |
|---|---|---|---|---|---|
| 1 | BlackRock, Inc. | 3.8M | $121.3M | -112.6K (-2.9%) | Trimmed |
| 2 | Crewe Advisors LLC | 2.8M | $88.5M | +606.4K (+28.2%) | Added |
| 3 | VANGUARD PORTFOLIO MANAGEMENT LLC | 1.9M | $59.8M | — | New |
| 4 | VANGUARD CAPITAL MANAGEMENT LLC | 1.8M | $58.0M | — | New |
| 5 | ROYCE & ASSOCIATES LP | 907.7K | $29.2M | +161.5K (+21.6%) | Added |
| 6 | DIMENSIONAL FUND ADVISORS LP | 780.2K | $25.1M | +614.3K (+370.2%) | Added |
| 7 | Nuveen, LLC | 572.1K | $18.4M | -7.1K (-1.2%) | Trimmed |
| 8 | SEI INVESTMENTS CO | 370.5K | $11.9M | +25.5K (+7.4%) | Added |
| 9 | JANE STREET GROUP, LLC | 348.2K | $11.2M | +216.1K (+163.5%) | Added |
| 10 | Russell Investments Group, Ltd. | 329.5K | $10.6M | -1.5K (-0.4%) | Trimmed |
| 11 | VANGUARD FIDUCIARY TRUST CO | 299.2K | $9.6M | — | New |
| 12 | UBS Group AG | 217.8K | $7.0M | +72.2K (+49.6%) | Added |
| 13 | PRUDENTIAL FINANCIAL INC | 210.6K | $6.8M | +201.8K (+2297.7%) | Added |
| 14 | Bank of New York Mellon Corp | 169.2K | $5.4M | +6.5K (+4.0%) | Added |
| 15 | Universal- Beteiligungs- und Servicegesellschaft mbH | 166.5K | $5.3M | -23.2K (-12.2%) | Trimmed |
| 16 | GROUP ONE TRADING LLC | 127.8K | $4.1M | -1.4K (-1.1%) | Trimmed |
| 17 | PRINCIPAL FINANCIAL GROUP INC | 98.7K | $3.2M | — | New |
| 18 | Swiss National Bank | 93.0K | $3.0M | +1.2K (+1.3%) | Added |
| 19 | Voya Investment Management LLC | 90.6K | $2.9M | +82.6K (+1034.7%) | Added |
| 20 | Invesco Ltd. | 78.1K | $2.5M | -113.7K (-59.3%) | Trimmed |
Source: SEC Form 13F-HR. Positions aggregated across sub-managers within each firm. Options (puts/calls) excluded — common stock only.
Top questions investors are asking
- 1
With DOJ/SEC scrutiny on Medicare billing practices, can you quantify potential clawback exposure tied to your 29% skilled mix and Rehab RUG utilization?
- 2
Mature facility occupancy of 95% versus 79% industry seems statistically extreme—what specific patient acuity or admissions criteria explain this 16-point gap?
- 3
Why have you not filed timely 10-Q/10-K financials, and when will audited 2024 and 2025 statements be released to investors?
Refreshed when PACS files a new report · last from 2026-02-27