PACS Group Reports Record Q4 and Full-Year 2025 Results

Highlights include strong occupancy, improving clinical quality, and conservative balance sheet

Published on Mar. 2, 2026

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PACS Group, a leading operator of skilled nursing and assisted living facilities, reported strong fourth-quarter and full-year 2025 results, citing continued platform growth, record performance, and a conservative balance sheet position as the company enters 2026. The company outlined occupancy strength, stable skilled mix trends, and disciplined execution across an expanded portfolio as key drivers of its financial results.

Why it matters

PACS Group's performance highlights the resilience of the senior care industry, even amid broader economic challenges. The company's focus on clinical quality, regulatory compliance, and strategic acquisitions positions it well to navigate evolving industry dynamics, including shifts in payer models and increased emphasis on value-based care.

The details

PACS Group reported fourth-quarter revenue of $1.36 billion, up approximately 12% year over year, with net income of $59.8 million. Adjusted EBITDAR was $237.7 million, and adjusted EBITDA was $142.1 million. The company attributed its strong performance to occupancy strength, stable skilled mix trends, and disciplined execution across an expanded portfolio. PACS also completed eight strategic acquisitions during 2025, bringing its total facility count to 321 across 17 states, caring for more than 31,700 patients daily and employing over 47,000 team members.

  • PACS Group reported its fourth-quarter and full-year 2025 earnings on March 2, 2026.
  • The company's fiscal year 2025 ended on December 31, 2025.

The players

PACS Group, Inc.

A leading operator of skilled nursing and assisted living facilities in the United States, founded in 2013 and based in Farmington, Utah.

Mark Hancock

Interim Chief Financial Officer of PACS Group.

Jason Murray

Chief Executive Officer of PACS Group.

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