PACS (PACS) financial statements
PACS reported revenue of $5.3B in fiscal 2025, up 30.1% a year over 3 years.
Net income was $192M and the operating margin 5.9%, against 9.6% in 2022.
The diluted share count rose 22% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from PACS's 10-K filings with the SEC.
| Fiscal year | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue | $2.4B | $3.1B | $4.1B | $5.3B |
| Cost of revenue | $1.9B | $2.4B | $3.3B | $4.1B |
| Gross profit | $538M | $662M | $790M | $1.2B |
| Selling, general and admin | $149M | $214M | $344M | $415M |
| Operating income | $229M | $208M | $123M | $310M |
| Interest expense | $26M | $50M | $44M | $28M |
| Pre-tax income | $207M | $157M | $102M | $284M |
| Income tax | $57M | $44M | $46M | $93M |
| Net income | $150M | $113M | $56M | $192M |
| EPS (diluted) | $1.17 | $0.88 | $0.38 | $1.22 |
| Diluted shares | 129M | 129M | 149M | 157M |
| Gross margin | 22.4% | 21.3% | 19.3% | 21.9% |
| Operating margin | 9.6% | 6.7% | 3.0% | 5.9% |
| Net margin | 6.3% | 3.6% | 1.4% | 3.6% |
Balance sheet
Fiscal years, from PACS's 10-K filings with the SEC.
| Fiscal year | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Cash and short-term investments | $58M | $73M | $158M | $197M |
| Receivables | — | $548M | $642M | $628M |
| Total current assets | — | $722M | $938M | $1.1B |
| Property, plant and equipment | — | $578M | $991M | $1.2B |
| Goodwill | $55M | $59M | $61M | $62M |
| Total assets | — | $3.5B | $5.2B | $5.6B |
| Total current liabilities | — | $457M | $978M | $1.0B |
| Long-term debt | — | $196M | $251M | $245M |
| Total liabilities | — | $3.4B | $4.5B | $4.6B |
| Shareholders' equity | $69M | $96M | $710M | $947M |
| Net debt | -$58M | $139M | $108M | $52M |
Cash flow
Fiscal years, from PACS's 10-K filings with the SEC.
| Fiscal year | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Operating cash flow | $93M | $64M | $367M | $404M |
| Stock-based compensation | $0 | $0 | $116M | $54M |
| Dividends paid | $60M | $80M | $34M | $0 |
| Dividends per share | $0.47 | $0.62 | $0.23 | — |
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What was PACS's revenue in 2025?
$5.3B in fiscal 2025, from its 10-K filing.
From PACS's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.