PACS Group (PACS) Cash Flow: Operating & Free Cash Flow

PACS Group Cash Flow Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for PACS Group, Inc. (PACS) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Operating Activities
Net Income	191.46	55.34	112.88	150.50	47.95
Depreciation & Amortization	58.81	43.92	31.70	22.31	7.15
Deferred Income Tax	-17.73	-44.48	-9.92	-1.92	7.83
Stock Based Compensation	54.07	115.54	0.00	0.00	-
Change in Working Capital	72.71	158.22	-94.66	-94.29	-4.36
Change in Accounts Receivable	14.43	-116.46	-179.94	-114.62	-40.09
Change in Accounts Payable	14.86	33.40	33.37	32.81	30.78
Change in Other Working Capital	-91.40	48.78	65.51	-12.48	2.23
Other Operating Activities	27.17	-5.69	13.78	16.02	2.23
Net Cash from Operating Activities	404.22	367.34	63.70	92.62	57.60
Investing Activities
Capital Expenditures	-105.41	-66.47	-45.78	-22.86	-203.76
Acquisitions	-143.00	-283.34	-127.02	-55.37	-15.71
Purchases of Investments	-21.21	-123.77	-2.60	0.00	-15.71
Sales/Maturities of Investments	5.59	29.40	1.86	0.00	0.88
Other Investing Activities	0.00	5.02	0.75	2.92	-
Net Cash from Investing Activities	-264.03	-442.68	-172.79	-75.32	-218.60
Financing Activities
Debt Repayment	-18.22	-19.46	-559.63	69.38	-386.55
Common Stock Issued	0.00	509.44	0.00	0.00	-
Common Stock Repurchased	-8.40	-33.60	0.00	0.00	-
Dividends Paid	0.00	-33.72	-80.39	-60.28	-53.80
Other Financing Activities	-0.38	0.50	0.59	3.25	-
Net Cash from Financing Activities	-68.99	117.48	129.59	12.35	182.05
Summary
Net Change in Cash	71.21	42.14	20.50	29.64	21.05
Cash at Beginning of Period	160.84	118.70	98.21	68.56	47.51
Cash at End of Period	232.05	160.84	118.70	98.21	68.56
Free Cash Flow	298.82	300.88	17.92	69.75	-146.16
Supplemental Disclosures
Interest Paid	-	48.25	50.56	25.91	6.94
Income Taxes Paid	-	107.83	60.01	42.55	29.11

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About PACS Group Cash Flow

What is PACS Group's free cash flow?

PACS Group generated free cash flow of $298.82M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of $404.22M minus $105.41M of capital expenditures. That was down 0.7% from $300.88M a year earlier. Free cash flow equaled 5.6% of revenue.

How much does PACS Group spend on capital expenditures?

PACS Group spent $105.41M on capital expenditures in fiscal 2025, compared with $66.47M a year earlier. That equals 26.1% of operating cash flow.

Does PACS Group pay dividends or buy back shares?

Yes. In fiscal 2025 PACS Group returned $8.39M in share buybacks to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition