Assay

Financial-condition grades for SEC filers

Company Report · as of Oct 9, 2026

HomeCompaniesSectorsCalendarLast night
Screens
WarningsPrice and conditionThen and nowSize bandsCeased filers
Tools
Time machinePoint in timeData exportsRun logForecast logEDGAR company search
Method
MethodCoverageAbout
Pacs Group, Inc.PACS · healthcare
GradeNonecomputable_factors_below_threshold: 4 of 14 inputs computable; 7 are required
Reliability0.94 AUCfailure model, filers with over $2.67B assets; 95% interval 0.88 to 0.97; 61 events, 2020 to 2025
Peer failure rate0.52% a yearItem 1.03 bankruptcies, same asset band, 2012 to 2025
Size bandover $2.67B assetstotal assets $5.6B[1]
Standard universeinsiderevenue above $1M and assets above $10M[1-2]
Warningslate filer, thin datanot computable: dilution, distress
Inputs computable4 of 14
Graded fromfilings received through Feb 27, 2026224 days before the rescan; every figure keyed to the SEC receipt date
Last close$43.722026-10-08; market equity $6.9B; iex feed
Price used in gradeNone
Share price, twelve months to the rescansplit-adjusted close; a lollipop at every rescan carries the letter held then; baseline ticks are SEC receipt dates of the inputs; ranges and dragging scroll the full history
$20$40NovDecJanFebMarAprMayJunJulAugSepOct$43.73
ABCDE20132014201520162017201820192020202120222023202420252026

Percentile at every rescan on file, Jan 21, 2012 to Oct 9, 2026; stronger toward the top. Hover for the date.

Open this report as it stood on

Letter setLetterPercentileBand
Jan 21, 2012nonen/a
Nov 21, 2025nonen/aQ5

Each date opens the report as it stood on that rescan.

Business, in the company's words. Opening of Item 1 of the 10-K received Feb 27, 2026; the document on sec.gov.

We are a leading post-acute healthcare company primarily focused on delivering high-quality skilled nursing care through a portfolio of independently operated facilities. Founded in 2013, we are one of the largest skilled nursing providers in the United States based on number of facilities. We also provide senior care, assisted living, and independent living options in some of our communities. In total, we operate 321 post-acute care facilities across 17 states serving over 31,700 patients daily.

Warnings [top]

Late filer. found 5 NT 10-K/Q filings in the last eight quarters
Thin data. 4 of 14 grade factors are computable; minimum is 7

7 checks ran; none of them enters the letter. The checks are listed on the warnings screen.

The Fourteen Inputs [top]

Lower percentile is stronger. Source numbers open the SEC filing; a range that spans filings opens the sources table.

InputPercentile, 0 to 100ValueSourcePeer medianPercentilePeersPeriod end
Profitability, sleeve percentile 41.5
Gross profitabilitynot computable32.2%
one or more required annual facts are missing
Return on invested capital20.2%[3-11]9.3%16.4742025-12-31
Accruals ratio(3.9%)[1,12-14](6.6%)66.58112025-12-31
Gross margin stability, five yearsnot computable2.8 pts
five annual gross margins are required; found 0
Solvency, sleeve percentile 60.7
Twelve-month failure probabilitynot computable0.07%
latest liabilities, cash plus short-term investments, book equity, and shares are required
Altman Z double-prime0.85[1,3,7,15-18](0.31)33.67562025-12-31
Net debt to EBITDAnot computable1.82x
one or more required annual facts are missing
Interest coveragenot computable(4.51x)
one or more required annual facts are missing
Current ratio1.07x[15-16]2.96x87.88392025-12-31
Growth and financing
Revenue growth, three-year compoundnot computable10.0%
four annual observations are required; found 2
Free cash flow growth, three-year compoundnot computable10.9%
four consecutive annual FCF observations are required; found 0
Reinvestment ratenot computable37.1%
one or more required annual facts are missing
Asset growth, three yearsnot computable2.1%
four annual observations are required; found 2
Net share issuance, one yearnot computable2.5%
prior share count is 98 days earlier

Gross profitability. Revenue less cost of goods sold, over total assets.

Accruals ratio. Net income less operating cash flow, over average assets; lower is stronger.

Gross margin stability, five years. Standard deviation of gross margin; lower is stronger.

Twelve-month failure probability. CHS model; lower is stronger.

Net debt to EBITDA. Lower is stronger.

Net share issuance, one year. Split-adjusted; lower is stronger.

Among 371 Peers [top]

What the Price Implies [top]

Market measures at the 2026-10-08 close. None enters the grade. Percentile among graded peers with the same measure.

MeasureValuePeer medianPercentileReading
Twelve-month price change, skipping the latest month208.2%8.0%96hotter than 96 of 100 peers
Distance from 52-week high(9.7%)(31.4%)85closer to its high than 85 of 100 peers
EBIT to enterprise value4.4%(1.5%)74pricier than 26 of 100 peers
Free cash flow yieldnot computable(1.0%)required accounting or market input is missing
Book value to price0.160.2836pricier than 64 of 100 peers
Sales to price0.760.3178pricier than 22 of 100 peers
Composite equity issuance, five yearsnot computable20.3%a share count from five years earlier is required
Relative strength against the sector, log excess return0.91(0.14)96ahead of 96 of 100 peers

Inputs: market equity $6.9B; EBIT $309.6M; book equity $1.1B; sales $5.3B; debt $353.2M; cash $164.5M[19].

Diagnostics [top]

Diagnostics do not feed the grade.

Piotroski F-score: None of 9, period end 2025-12-31
Return on assets above zero3.7%✓ pass[12,14]
Operating cash flow above zero$404.2M✓ pass[13]
Return on assets improvedn/a[12,14,20]
Operating cash flow exceeds net income$212.7M✓ pass[12-13]
Long-term leverage felln/a[1,14,21-22]
Current ratio improved10.9 pts✓ pass[15-16,23-24]
No new shares issuedn/a[25-26]
Gross margin improvedn/a
Asset turnover improvedn/a[2,14,27]
Cash, filings, liquidity
Cash and equivalents$164.5M[28]
Operating cash flow, four quarters$573.2M[13,28-32]
Months of runwaynot finite
trailing operating cash flow is nonnegative, so runway is not finite
Late filings, two years5
NT 10-K or NT 10-Q
Days since last periodic filing66
10-Q received Aug 4, 2026
Median daily dollar volume$33.8M
63 sessions
Days since newest grade input224

Downloads [top]

Sources [top]

Every citation on this page. Filing opens the SEC index page for that submission; viewer opens the SEC interactive data for the same filing; series opens the SEC XBRL API record for that tag and company.

#ConceptXBRL tagValuePeriod endReceivedFormLinks
1assetsus-gaap:Assets$5.6B2025-12-312026-02-2710-Kfiling · viewer · series
2revenueus-gaap:RevenueFromContractWithCustomerExcludingAssessedTax$5.3B2025-12-312026-02-2710-Kfiling · viewer · series
3operating incomeus-gaap:OperatingIncomeLoss$309.6M2025-12-312026-02-2710-Kfiling · viewer · series
4pretax incomeus-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest$284.4M2025-12-312026-02-2710-Kfiling · viewer · series
5income taxus-gaap:IncomeTaxExpenseBenefit$93.0M2025-12-312026-02-2710-Kfiling · viewer · series
6total debtus-gaap:LongTermDebt$353.2M2025-12-312026-02-2710-Kfiling · viewer · series
7book equityus-gaap:StockholdersEquity$946.8M2025-12-312026-02-2710-Kfiling · viewer · series
8cashus-gaap:CashAndCashEquivalentsAtCarryingValue$197.0M2025-12-312026-02-2710-Kfiling · viewer · series
9total debtus-gaap:LongTermDebt$411.9M2024-12-312025-11-1910-Kfiling · viewer · series
10book equityus-gaap:StockholdersEquity$709.6M2024-12-312026-02-2710-Kfiling · viewer · series
11cashus-gaap:CashAndCashEquivalentsAtCarryingValue$157.7M2024-12-312026-02-2710-Kfiling · viewer · series
12net incomeus-gaap:NetIncomeLoss$191.5M2025-12-312026-02-2710-Kfiling · viewer · series
13operating cash flowus-gaap:NetCashProvidedByUsedInOperatingActivities$404.2M2025-12-312026-02-2710-Kfiling · viewer · series
14assetsus-gaap:Assets$5.2B2024-12-312026-02-2710-Kfiling · viewer · series
15current assetsus-gaap:AssetsCurrent$1.1B2025-12-312026-02-2710-Kfiling · viewer · series
16current liabilitiesus-gaap:LiabilitiesCurrent$1.0B2025-12-312026-02-2710-Kfiling · viewer · series
17retained earningsus-gaap:RetainedEarningsAccumulatedDeficit$309.6M2025-12-312026-02-2710-Kfiling · viewer · series
18liabilitiesus-gaap:Liabilities$4.6B2025-12-312026-02-2710-Kfiling · viewer · series
19shares outstandingdei:EntityCommonStockSharesOutstanding158,335,6122026-07-312026-08-0410-Qfiling · viewer · series
20net incomeus-gaap:NetIncomeLoss$55.8M2024-12-312026-02-2710-Kfiling · viewer · series
21long term debtus-gaap:LongTermDebtNoncurrent$244.8M2025-12-312026-02-2710-Kfiling · viewer · series
22long term debtus-gaap:LongTermDebtNoncurrent$251.0M2024-12-312026-02-2710-Kfiling · viewer · series
23current assetsus-gaap:AssetsCurrent$938.3M2024-12-312026-02-2710-Kfiling · viewer · series
24current liabilitiesus-gaap:LiabilitiesCurrent$978.4M2024-12-312026-02-2710-Kfiling · viewer · series
25shares outstandingdei:EntityCommonStockSharesOutstanding157,165,0292026-02-232026-02-2710-Kfiling · viewer · series
26shares outstandingdei:EntityCommonStockSharesOutstanding156,615,1442025-11-172025-11-1910-Kfiling · viewer · series
27revenueus-gaap:RevenueFromContractWithCustomerExcludingAssessedTax$4.1B2024-12-312026-02-2710-Kfiling · viewer · series
28cashus-gaap:CashAndCashEquivalentsAtCarryingValue$164.5M2026-06-302026-08-0410-Qfiling · viewer · series
29operating cash flowus-gaap:NetCashProvidedByUsedInOperatingActivities$371.8M2026-06-302026-08-0410-Qfiling · viewer · series
30operating cash flowus-gaap:NetCashProvidedByUsedInOperatingActivities$236.3M2026-03-312026-05-1110-Qfiling · viewer · series
31operating cash flowus-gaap:NetCashProvidedByUsedInOperatingActivities$407.6M2025-09-302025-11-1910-Qfiling · viewer · series
32operating cash flowus-gaap:NetCashProvidedByUsedInOperatingActivities$202.8M2025-06-302026-08-0410-Qfiling · viewer · series

Limitations [top]

Peer group. Sector assignment from four-digit SIC codes, hand-tuned and published. The grade under three alternative peer policies is tabled above.

Size. Within a sector the letter tracks size. Among graded filers in the smallest asset band, 72% grade E and 0% grade A; in the largest, 13% grade E and 21% grade A. Universe as of Oct 9, 2026.

Failure model. filings 2012-01-01 to 2019-12-31 fit, filings 2020-01-01 to 2025-12-31 test; status post hoc pending confirmation. pre-registered on 2026 filings once their 12-month outcome windows close; supported if the paired per-quintile gain over the pooled model has a lower bound above 0.05.

Input validity. Revenue or total assets at or below $100,000 sets the degenerate-inputs flag. An input whose denominator is at or below $100,000 is left not computable rather than ranked.

Returns. No input on this page has a post-2015 confidence interval on returns that excludes zero. The grade ranks reported financial condition and is not a return forecast.

Informational and educational only. Not investment advice. SEC and market data may contain errors.

If you have any comments about this page, the methodology and every line of code that produced it are in the public repository. However, due to the limited number of personnel, we are unable to provide a direct response.

Pages
Home · Companies · Sectors · Calendar · Last night
Screens
Warnings · Price and condition · Then and now · Size bands · Ceased filers
Tools
Time machine · Point in time · Data exports · Run log · Forecast log · EDGAR company search
Method
Method · Coverage · About
Source
GitHub · ezrakruger.cc
Photographs from Wikimedia Commons

bull: Raphael Schön from Vienna, Austria, CC BY 2.0; bear: U. S. Fish and Wildlife Service - Northeast Region, Public domain; elk: Oregon Department of Fish & Wildlife, Public domain; tortoise: NPS, Public domain; sloth: Charles J. Sharp, CC BY-SA 3.0; fox: Cp9asngf, CC BY-SA 4.0; sector-business_equipment: Sangitiana Fararano, CC BY-SA 2.0; sector-healthcare: User:Squidonius, myself, and User:Beliason (assumed)., CC BY-SA 4.0; sector-manufacturing: unknown, CC BY-SA 2.0; sector-shops: Wilfredor, CC BY-SA 4.0; sector-consumer_nondurables: Nielsoncaetanosalmeron, CC BY 4.0; sector-utilities: Lijovklm, CC BY-SA 4.0; sector-consumer_durables: Stilfehler, CC BY-SA 4.0; sector-chemicals: PEO ACWA, CC BY 2.0; sector-energy: Arne Hückelheim, CC BY-SA 3.0; sector-telecom: Wikideas1, CC0; sector-other: Downtowngal, CC BY-SA 4.0.

Updated Oct 9, 2026