Pennant (PNTG) financial statements
Pennant reported revenue of $948M in fiscal 2025, up 18.1% a year over 8 years.
Net income was $30M and the operating margin 5.5%, against 6.1% in 2017.
Free cash flow was $36M.
The diluted share count rose 27% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Pennant's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $251M | $286M | $339M | $391M | $440M | $473M | $545M | $695M | $948M |
| Cost of revenue | $187M | $212M | $259M | $297M | $350M | $377M | $438M | $558M | $769M |
| Gross profit | $64M | $74M | $80M | $94M | $89M | $97M | $107M | $137M | $179M |
| Selling, general and admin | — | — | — | — | $36M | $34M | $37M | $50M | $71M |
| Operating income | $15M | $21M | $6M | $19M | $5M | $13M | $25M | $38M | $52M |
| Interest expense | — | $0 | $410,000 | $1M | $2M | $4M | $6M | $7M | $7M |
| Pre-tax income | $15M | $21M | $5M | $18M | $3M | $9M | $20M | $31M | $46M |
| Income tax | $5M | $4M | $2M | $2M | $582,000 | $2M | $6M | $7M | $12M |
| Net income | $10M | $16M | $3M | $16M | $3M | $7M | $13M | $23M | $30M |
| EPS (diluted) | $0.36 | $0.58 | $0.11 | $0.52 | $0.09 | $0.22 | $0.44 | $0.70 | $0.84 |
| Diluted shares | 28M | 28M | 30M | 30M | 31M | 30M | 30M | 32M | 35M |
| Gross margin | 25.4% | 25.7% | 23.5% | 24.1% | 20.3% | 20.4% | 19.6% | 19.7% | 18.9% |
| Operating margin | 6.1% | 7.2% | 1.7% | 4.8% | 1.1% | 2.7% | 4.6% | 5.5% | 5.5% |
| Net margin | 3.9% | 5.5% | 0.8% | 4.0% | 0.6% | 1.4% | 2.5% | 3.2% | 3.1% |
Balance sheet
Fiscal years, from Pennant's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $36,000 | $41,000 | $402,000 | $43,000 | $5M | $2M | $6M | $24M | $17M |
| Receivables | — | $24M | $32M | $47M | $54M | $53M | $61M | $81M | $123M |
| Total current assets | — | $29M | $39M | $60M | $76M | $74M | $80M | $123M | $167M |
| Property, plant and equipment | — | $10M | $15M | $18M | $17M | $27M | $29M | $43M | $61M |
| Goodwill | $28M | $31M | $41M | $66M | $74M | $79M | $91M | $129M | $237M |
| Total assets | — | $98M | $448M | $507M | $530M | $512M | $540M | $680M | $968M |
| Total current liabilities | — | $30M | $51M | $89M | $72M | $70M | $72M | $102M | $147M |
| Total liabilities | — | $33M | $377M | $406M | $416M | $386M | $394M | $368M | $594M |
| Shareholders' equity | $60M | $56M | $71M | $101M | $114M | $126M | $146M | $312M | $374M |
| Net debt | -$36,000 | -$41,000 | -$402,000 | -$43,000 | -$5M | -$2M | -$6M | -$24M | -$12M |
Cash flow
Fiscal years, from Pennant's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $17M | $23M | $10M | $50M | -$18M | $9M | $33M | $39M | $48M |
| Capital spending | $3M | $4M | $7M | $7M | $6M | $14M | $8M | $9M | $12M |
| Free cash flow | $14M | $20M | $3M | $43M | -$25M | -$5M | $25M | $30M | $36M |
| Stock-based compensation | $2M | $2M | $3M | $8M | $10M | $3M | $5M | $8M | $9M |
| Dividends paid | $0 | $0 | $12M | $0 | $0 | — | — | — | — |
| Share buybacks (net) | — | $0 | $0 | -$65,000 | $0 | $0 | — | — | — |
| Free cash flow margin | 5.6% | 6.9% | 0.8% | 11.0% | -5.6% | -1.1% | 4.6% | 4.4% | 3.8% |
| Dividends per share | — | — | $0.39 | — | — | — | — | — | — |
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Open PNTG in InvestinglyQuestions
What was Pennant's revenue in 2025?
$948M in fiscal 2025, from its 10-K filing.
How much free cash flow does Pennant generate?
$36M in fiscal 2025 (operating cash flow minus capital spending).
From Pennant's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.