PACS Group, Inc. (PACS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-583.5%

-$221.17

vs $45.75 price

Levered DCF

$34.67

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

2.32

Grey zone

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021
P/E	31.21×	34.5×	30.67×	23×	71.88×
P/B	6.33×	2.71×	35.93×	54.26×	0×
P/S	1.13×	0.47×	1.11×	1.43×	2.96×
EV / EBITDA	25.36×	28.21×	26.56×	20.87×	0×
Gross margin	21.9%	19.4%	14.4%	16.5%	16.1%
Operating margin	5.9%	3.0%	6.7%	9.5%	7.1%
Net margin	3.6%	1.4%	3.6%	6.2%	4.1%
Current ratio	1.07×	0.96×	1.58×	1.06×	0×
Debt / equity	3.67×	4.93×	29.18×	30.25×	0×
Interest coverage	10.92×	2.78×	4.16×	8.98×	15.79×
Dividend yield	0.0%	1.8%	2.3%	1.7%	1.6%
Payout ratio	0.0%	60.5%	71.2%	40.1%	112.2%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021
Return on equity	20.2%	7.9%	117.4%	236.5%	0.0%
Return on invested capital	4.4%	1.5%	4.7%	7.7%	0.0%
Return on assets	3.4%	1.1%	3.2%	6.1%	0.0%
Free cash flow yield	5.0%	0.9%	0.5%	2.0%	-1.9%
Earnings yield	3.2%	2.9%	3.3%	4.4%	1.4%
Enterprise value	$9.3B	$5.3B	$6.2B	$5.3B	$0
Net debt / EBITDA	8.96×	17.91×	11.73×	7.33×	0×
Cash conversion cycle (days)	31	45	51	43	0