PACS (PACS)


Market Price (8/28/2026): $44.29 | Market Cap: $7.0 BilSector: Health Care | Industry: Health Care Facilities

PACS (PACS)


Market Price (8/28/2026): $44.29
Market Cap: $7.0 Bil
Sector: Health Care
Industry: Health Care Facilities

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 10%

Megatrend and thematic drivers
Megatrends include Healthcare Real Estate. Themes include Post-Acute Care Real Estate.

Weak multi-year price returns
2Y Excs Rtn is -28%

Stock price has recently run up significantly
12M Rtn12 month market price return is 273%

High stock price volatility
Vol 12M is 102%

Short seller report
Hindenburg Research report on 11/4/2024.

Key risks
PACS key risks include [1] potential NYSE delisting stemming from its failure to timely file financial reports and a necessary accounting restatement, Show more.

0 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 10%
1 Megatrend and thematic drivers
Megatrends include Healthcare Real Estate. Themes include Post-Acute Care Real Estate.
2 Weak multi-year price returns
2Y Excs Rtn is -28%
3 Stock price has recently run up significantly
12M Rtn12 month market price return is 273%
4 High stock price volatility
Vol 12M is 102%
5 Short seller report
Hindenburg Research report on 11/4/2024.
6 Key risks
PACS key risks include [1] potential NYSE delisting stemming from its failure to timely file financial reports and a necessary accounting restatement, Show more.

PACS in ETFs

Weight = PACS's share of each fund

VTI0.00%
ITOT0.00%
IWM0.06%
VB0.02%
IHF0.29%
AVUV0.18%
IWO0.13%
DFAS0.08%
+8 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 8/11/2026

PACS (PACS) stock has gained about 30% since 4/30/2026 because of the following key factors:

1. Strong Fiscal Q1 2026 Earnings Beat.

PACS reported robust financial results for fiscal Q1 2026 (ended March 31, 2026), announcing an adjusted Earnings Per Share (EPS) of $0.50, which surpassed analyst expectations of $0.44. Revenue also demonstrated strength, growing 11% year-over-year to $1.42 billion.

2. Exceptional Fiscal Q2 2026 Financial Performance.

The company continued its strong performance into fiscal Q2 2026 (ended June 30, 2026), significantly exceeding analyst projections. PACS reported an adjusted EPS of $0.63, beating consensus estimates of $0.54 by $0.09. Revenue reached $1.43 billion, surpassing analyst estimates of $1.41 billion. This quarter saw net income increase by 49.8% year-over-year to $76.3 million and Adjusted EBITDA grow by 24.6% to $166.8 million.

Show more
Updated on 8/11/2026

PACS (PACS) stock has gained about 30% since 4/30/2026 because of the following key factors:

1. Strong Fiscal Q1 2026 Earnings Beat.

PACS reported robust financial results for fiscal Q1 2026 (ended March 31, 2026), announcing an adjusted Earnings Per Share (EPS) of $0.50, which surpassed analyst expectations of $0.44. Revenue also demonstrated strength, growing 11% year-over-year to $1.42 billion.

2. Exceptional Fiscal Q2 2026 Financial Performance.

The company continued its strong performance into fiscal Q2 2026 (ended June 30, 2026), significantly exceeding analyst projections. PACS reported an adjusted EPS of $0.63, beating consensus estimates of $0.54 by $0.09. Revenue reached $1.43 billion, surpassing analyst estimates of $1.41 billion. This quarter saw net income increase by 49.8% year-over-year to $76.3 million and Adjusted EBITDA grow by 24.6% to $166.8 million.

3. Increased Full-Year 2026 Guidance.

Following the strong fiscal Q2 2026 results, PACS raised its full-year 2026 Adjusted EBITDA guidance to a range of $640 million to $660 million, an increase from its prior range of $605 million to $625 million. The company also boosted its revenue guidance for the full year to $5.75 billion to $5.85 billion, up from $5.65 billion to $5.75 billion.

4. Strategic Acquisitions and High Occupancy Rates.

PACS expanded its operational footprint by closing on the acquisition of 20 of 22 Texas facilities from Eduro Healthcare by August 1, 2026, with the remaining facilities expected to close in fiscal Q3 and Q4 2026. The company also maintained strong occupancy levels across its portfolio, with overall occupancy at 90.4% in fiscal Q2 2026, considerably above the industry average of 79.5%. Same-store skilled nursing facility (SNF) revenue increased by 5.8%, with same-store SNF occupancy improving to 90.6%.

5. Positive Analyst Sentiment and Price Target Increases.

Multiple Wall Street analysts responded positively to PACS's performance, issuing upgrades and increasing their price targets for the stock. Firms such as Oppenheimer, Truist, RBC, and UBS raised their price targets, with some reaching as high as $62.00. The consensus rating for PACS remains a "Moderate Buy" or "Strong Buy" with an average price target ranging from $56.00 to $59.20.

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Stock Movement Drivers

Fundamental Drivers

The 31.9% change in PACS stock from 4/30/2026 to 8/27/2026 was primarily driven by a 33.9% change in the company's Net Income Margin (%).
(LTM values as of)43020268272026Change
Stock Price ($)33.5544.2431.9%
Change Contribution By: 
Total Revenues ($ Mil)5,2895,5515.0%
Net Income Margin (%)3.6%4.8%33.9%
P/E Multiple27.426.0-5.3%
Shares Outstanding (Mil)157158-0.9%
Cumulative Contribution31.9%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2026 to 8/27/2026
ReturnCorrelation
PACS31.9% 
Market (SPY)7.3%8.9%
Sector (XLV)17.5%23.3%

Fundamental Drivers

The 31.0% change in PACS stock from 1/31/2026 to 8/27/2026 was primarily driven by a 0.0% change in the company's P/E Multiple.
(LTM values as of)13120268272026Change
Stock Price ($)33.7644.2431.0%
Change Contribution By: 
Total Revenues ($ Mil)5,5510.0%
Net Income Margin (%)4.8%0.0%
P/E Multiple26.00.0%
Shares Outstanding (Mil)129158-18.6%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

1/31/2026 to 8/27/2026
ReturnCorrelation
PACS31.0% 
Market (SPY)11.7%20.0%
Sector (XLV)11.3%20.1%

Fundamental Drivers

The 300.0% change in PACS stock from 7/31/2025 to 8/27/2026 was primarily driven by a 0.0% change in the company's P/E Multiple.
(LTM values as of)73120258272026Change
Stock Price ($)11.0644.24300.0%
Change Contribution By: 
Total Revenues ($ Mil)5,5510.0%
Net Income Margin (%)4.8%0.0%
P/E Multiple26.00.0%
Shares Outstanding (Mil)21415835.6%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2025 to 8/27/2026
ReturnCorrelation
PACS300.0% 
Market (SPY)23.0%5.9%
Sector (XLV)33.3%10.3%

Fundamental Drivers

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Market Drivers

7/31/2023 to 8/27/2026
ReturnCorrelation
PACS  
Market (SPY)74.4%13.9%
Sector (XLV)33.9%18.6%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
PACS Return----43%193%16%93%
Peers Return12%-15%64%8%59%27%245%
S&P 500 Return27%-19%24%23%16%12%104%

Monthly Win Rates [3]
PACS Win Rate---67%58%62% 
Peers Win Rate50%47%64%53%67%54% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
PACS Max Drawdown-----47%-28% 
Peers Max Drawdown-31%-36%-20%-25%-18%-24% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: ENSG, BKD, NHC.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 8/27/2026 (YTD)

How Low Can It Go

EventPACSS&P 500
2025 US Tariff Shock
  % Loss-34.8%-18.8%
  % Gain to Breakeven53.4%23.1%
  Time to Breakeven58 days79 days

Compare to ENSG, BKD, NHC

In The Past

PACS's stock fell -34.8% during the 2025 US Tariff Shock. Such a loss loss requires a 53.4% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventPACSS&P 500
2025 US Tariff Shock
  % Loss-34.8%-18.8%
  % Gain to Breakeven53.4%23.1%
  Time to Breakeven58 days79 days

Compare to ENSG, BKD, NHC

In The Past

PACS's stock fell -34.8% during the 2025 US Tariff Shock. Such a loss loss requires a 53.4% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About PACS (PACS)

PACS is a leading post-acute healthcare company primarily focused on delivering high-quality skilled nursing care through a portfolio of over 200 independently operated facilities across nine U.S. states. The company specializes in short-term transitional care for patients recuperating from acute conditions, illnesses, or serious medical procedures after hospital discharge, though it also provides long-term custodial care, senior care, assisted living, and independent living options. PACS's significant growth is driven by its expertise in acquiring underperforming long-term custodial care facilities and transforming them into higher acuity, high value-add transitional care centers by investing in clinical teams, technology, and operational enhancements.

The company operates through a decentralized model, empowering local leaders at each facility to make clinical and operational decisions autonomously. These local teams receive comprehensive central support from "PACS Services," which provides a robust suite of technology, administrative, financial, human resources, legal, and risk management services, enabling facilities to focus on patient care and regulatory compliance. PACS's primary customers are individuals aged 65 and older, with a substantial portion of its revenue generated from payments by third-party payors, particularly Medicare and Medicaid. This model has led to strong performance, with an average 4.1 CMS Quality Measures Star rating and 93% occupancy rate for mature facilities, exceeding industry averages.

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PACS is like a Marriott or Hilton for skilled nursing facilities, operating a large network of decentralized care centers with central support.

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  • Skilled Nursing Care: Providing specialized medical and rehabilitative services for patients requiring 24-hour in-patient services, including short-term transitional care after hospital discharge and long-term custodial care.
  • Assisted Living: Offering residential care and support for seniors who need assistance with daily activities.
  • Independent Living: Providing housing and a community environment for self-sufficient seniors.

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PACS primarily sells its services to individuals (patients and residents) in need of post-acute and senior care. The company serves the following categories of customers:

  1. Individuals requiring Short-Term Transitional Skilled Nursing Care: These are patients who have been discharged from hospitals but still require 24-hour in-patient services to recuperate from acute conditions, illnesses, or serious medical procedures. This is the company's primary focus and a growing segment of their business.
  2. Individuals requiring Long-Term Custodial Skilled Nursing Care: While PACS's strategy is to transform facilities into higher acuity short-term care, they also serve individuals who need extended skilled nursing services for chronic conditions or ongoing care.
  3. Seniors and Individuals seeking Assisted Living and Independent Living: In some of its communities, PACS provides senior care, assisted living, and independent living options for individuals who need varying levels of support, from minimal assistance to more comprehensive daily living aid, but typically not requiring the same intensity of medical care as skilled nursing patients.

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Jason Murray, Co-Founder, CEO and Chairman

Jason Murray is the Co-Founder, CEO, and Chairman of PACS Group, Inc., which he co-founded with Mark Hancock in 2013. He has over 20 years of experience as an executive in acute and post-acute healthcare settings and is a licensed nursing home administrator. Before co-founding PACS, he worked as a healthcare executive and licensed nursing home administrator. Murray holds a master's degree in healthcare administration and was named 2023 Mountain West Entrepreneur of the Year by Ernst & Young.

Mark Hancock, Co-Founder, Executive Vice Chairman, and Interim Chief Financial Officer

Mark Hancock is a Co-Founder, Executive Vice Chairman, and Interim Chief Financial Officer of PACS Group, Inc. He co-founded the company with Jason Murray in 2013 and previously served as CFO from January 2013 until January 2024, when he was appointed Executive Vice Chairman. He was re-appointed interim CFO on September 3, 2025, following the resignation of the previous CFO. Hancock has over 20 years of experience as a finance professional. Prior to co-founding PACS, he worked as Vice President of Finance and Treasurer of Farm Credit Mid-America, a nursing home administrator at a facility affiliated with Plum Healthcare Group, Director of Corporate Finance for Steel Technologies Inc., and a Finance Manager for Ford Motor Company. He was also named a 2023 Mountain West Entrepreneur of the Year by Ernst & Young.

Josh Jergensen, President and Chief Operating Officer

Josh Jergensen is the President and Chief Operating Officer at PACS Group, Inc. He has been providing operational support to all facilities within the PACS portfolio since 2014. Jergensen is a licensed nursing home administrator and an approved preceptor in California, with more than 10 years of experience operating complex multi-story skilled nursing facilities.

John Mitchell, Chief Legal Officer and Secretary

John Mitchell serves as the Chief Legal Officer and Secretary for PACS Group, Inc., managing the company's legal department. He joined PACS in 2017. Previously, he held positions as Vice President, Legal at HCP, a NYSE-traded healthcare-focused real estate investment trust, and as Senior Vice President, Legal, and Chief Compliance Officer at Skilled Healthcare Group, a NYSE-traded skilled nursing company. He began his career at an international law firm with a focus on corporate, finance, and mergers and acquisitions.

Michelle Lewis, Executive Vice President, Chief Accounting Officer

Michelle Lewis has served as PACS Group, Inc.'s Executive Vice President, Chief Accounting Officer since January 2023. She joined the company in July 2018 and held various roles of increasing responsibility, including Controller. Before joining PACS, Ms. Lewis owned and operated her own certified public accounting firm and provided controller functions at a privately held healthcare organization.

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The key risks to PACS's business are:

  1. High Dependence on Government Reimbursement Programs and Regulatory Compliance: A substantial portion of PACS's revenue is generated from payments from third-party payors, particularly Medicare and Medicaid, which together accounted for 76.2% of their routine revenue in 2023 and 77.8% of total revenue in 2022. The company operates in a highly regulated industry with stringent compliance obligations, and any changes to these government reimbursement programs or failure to comply with applicable laws and regulations could result in significant expenditures, regulatory penalties, and a material adverse effect on their financial performance and operations.

  2. Acquisition and Integration Strategy Risks: PACS's significant historical growth has been primarily driven by its strategy of acquiring underperforming long-term custodial care skilled nursing facilities and transforming them into higher acuity, high value-add short-term transitional care facilities. The success of this strategy relies on their expertise in identifying suitable acquisition targets, investing in clinical teams and processes, and upgrading various aspects of the business, often involving an up to three-year post-acquisition transition period. Failure to successfully execute this acquisition and integration strategy, or to effectively convert facilities to higher-value care models, could impede their growth, operational improvements, and profitability.

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The primary addressable market for PACS is the Skilled Nursing Facility (SNF) industry in the U.S. The Centers for Medicare & Medicaid Services (CMS) expects total industry expenditures for SNFs to increase from $193.6 billion in 2022 to $283.3 billion in 2031.

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Expected Drivers of Future Revenue Growth for PACS

  • Strategic Acquisitions and Facility Transformation: PACS's historical growth has been primarily driven by its strategy of acquiring underperforming long-term custodial care skilled nursing facilities and transforming them into higher acuity, high value-add short-term transitional care facilities. This involves investing in clinical teams and processes, upgrading technology, and improving overall operations, which is expected to continue driving revenue growth as new facilities are integrated and optimized.
  • Improved Occupancy Rates and Skilled Mix: The company's operational model focuses on implementing best practices in acquired facilities, leading to significant improvements in clinical quality, occupancy rates, and skilled mix by nursing patient days (the percentage of Medicare and managed care patients). As new facilities mature and existing ones continue to optimize, these enhanced metrics are expected to contribute to increased revenue per patient day and overall revenue growth.
  • Overall Expansion of the Skilled Nursing Facility (SNF) Industry: PACS operates within a growing market, with the Centers for Medicare & Medicaid Services (CMS) projecting total SNF industry expenditures to increase at a compound annual growth rate (CAGR) of 4.3% from $193.6 billion in 2022 to $283.3 billion in 2031. As one of the largest SNF operators in the United States, PACS is well-positioned to benefit from this broader industry expansion.
  • Geographic Expansion: PACS anticipates further penetrating its reach into its current nine states and entering new states in the future through available acquisition opportunities. This geographic expansion will increase its total number of facilities and patient base, contributing to sustained revenue growth.

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Outbound Investments

  • PACS has historically grown primarily through a disciplined acquisition strategy, identifying and acquiring underperforming long-term custodial care skilled nursing facilities.
  • The company focuses on converting acquired facilities into higher-value short-term transitional care facilities by investing in clinical teams, processes, technology, equipment, training, staffing, and aesthetics.
  • PACS intends to explore additional purchases of real-estate assets, through purchase options or right-of-first refusals in existing leases, as well as acquisitions and de novo construction of purpose-built facilities.

Capital Expenditures

  • The primary focus of capital expenditures is on implementing best practices in acquired facilities, including investments in clinical teams and processes, and upgrading technology, equipment, training, staffing, and aesthetics.
  • These expenditures aim to realize and sustain the full potential of facilities during an up to three-year post-acquisition transition period.

Peer Outperformance in Health Care Facilities

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Share of Health Care Facilities constituents that PACS has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
100%
of 29 industry peers · 273.0% return
3Y
insufficient peer history
5Y
insufficient peer history
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Median price return by industry across the Health Care sector, ranked by 5Y. Health Care Facilities is PACS's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Health Care Distributors 7 11.4%82.6%133.3% CAH 407% · MCK 354% · COR 182%
Health Care Services 20 19.8%45.0%3.4% HIMS 310% · RDNT 142% · DGX 81%
Managed Health Care 8 33.7%-2.9%2.5% OSCR 114% · HQY 42% · ELV 15%
Health Care Facilities ← 24 4.6%-4.2%-16.8% THC 257% · NHC 244% · ENSG 113%
Health Care Equipment 51 -5.4%-6.4%-21.4% POCI 10975% · UFPT 336% · GKOS 220%
Health Care Supplies 12 33.7%-14.8%-34.4% LNTH 291% · HAE 71% · MMSI 25%
Pharmaceuticals 63 -0.6%9.6%-37.0% LQDA 2490% · INDV 1235% · ETON 1136%
Life Sciences Tools & Services 108 -1.2%-31.2%-72.1% SNWV 1802% · MEDP 239% · AXGN 208%
Health Care Technology 21 -22.7%-56.6%-74.4% SPOK 119% · HSTM -1% · VEEV -15%
Biotechnology 365 8.8%-24.8%-77.7% BRTX 102900% · DNTH 1685% · CELZ 1529%
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

PACSENSGBKDNHCMedian
NamePACS Ensign Brookdal.National. 
Mkt Price44.24173.5412.09222.26108.89
Mkt Cap7.010.12.93.55.2
Rev LTM5,5515,4873,0511,5594,269
Op Inc LTM410467137145278
FCF LTM12122924147134
FCF 3Y Avg69208-1611894
CFO LTM573608224189399
CFO 3Y Avg383464191152287

Growth & Margins

PACSENSGBKDNHCMedian
NamePACS Ensign Brookdal.National. 
Rev Chg LTM15.2%18.9%-4.4%6.9%11.0%
Rev Chg 3Y Avg-17.4%2.0%13.0%13.0%
Rev Chg Q9.1%17.3%-11.6%8.8%9.0%
QoQ Delta Rev Chg LTM2.2%4.0%-3.0%2.2%2.2%
Op Inc Chg LTM83.5%18.2%122.5%24.1%53.8%
Op Inc Chg 3Y Avg-17.9%767.1%66.2%66.2%
Op Mgn LTM7.4%8.5%4.5%9.3%8.0%
Op Mgn 3Y Avg5.2%8.0%2.7%7.8%6.5%
QoQ Delta Op Mgn LTM0.4%0.0%1.0%0.8%0.6%
CFO/Rev LTM10.3%11.1%7.3%12.1%10.7%
CFO/Rev 3Y Avg7.7%9.7%6.1%10.8%8.7%
FCF/Rev LTM2.2%4.2%0.8%9.4%3.2%
FCF/Rev 3Y Avg0.8%4.5%-0.5%8.4%2.6%

Valuation

PACSENSGBKDNHCMedian
NamePACS Ensign Brookdal.National. 
Mkt Cap7.010.12.93.55.2
P/S1.31.80.92.21.5
P/Op Inc17.021.521.024.021.3
P/EBIT17.019.829.018.519.2
P/E26.026.6-20.924.725.4
P/CFO12.216.512.918.414.7
Total Yield3.8%3.9%-4.8%5.2%3.9%
Dividend Yield0.0%0.1%0.0%1.1%0.1%
FCF Yield 3Y Avg3.8%2.5%-1.4%5.7%3.2%
D/E0.50.21.90.00.3
Net D/E0.40.21.8-0.10.3

Returns

PACSENSGBKDNHCMedian
NamePACS Ensign Brookdal.National. 
1M Rtn-5.8%-5.2%-21.3%-3.8%-5.5%
3M Rtn16.4%1.6%-7.2%20.6%9.0%
6M Rtn6.2%-18.3%-20.3%39.8%-6.1%
12M Rtn273.0%0.9%54.2%101.9%78.1%
3Y Rtn92.3%77.9%189.9%248.8%141.1%
1M Excs Rtn-10.5%-10.3%-24.3%-8.5%-10.4%
3M Excs Rtn14.2%-0.6%-9.4%18.4%6.8%
6M Excs Rtn-5.7%-30.2%-32.2%27.9%-18.0%
12M Excs Rtn259.9%-17.7%36.8%83.4%60.1%
3Y Excs Rtn16.1%3.5%114.4%170.6%65.3%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil202520242023
Single Segment5,2894,0903,111
Total5,2894,0903,111


Net Income by Segment
$ Mil202520242023
Single Segment19155113
Total19155113


Price Behavior

Price Behavior
Market Price$44.24 
Market Cap ($ Bil)6.9 
First Trading Date04/11/2024 
Distance from 52W High-8.7% 
   50 Days200 Days
DMA Price$43.36$36.68
DMA Trendupup
Distance from DMA2.0%20.6%
 3M1YR
Volatility41.8%102.2%
Downside Capture37.38-51.66
Upside Capture104.61112.30
Correlation (SPY)13.7%5.8%
PACS Betas & Captures as of 7/31/2026

 1M2M3M6M1Y3Y
Beta0.440.540.480.950.480.14
Up Beta-0.68-1.06-0.031.321.94-0.25
Down Beta0.411.312.701.78-0.05-0.71
Up Capture137%157%63%85%122%34%
Bmk +ve Days11223567138427
Stock +ve Days13243261126281
Down Capture18%-3%-106%35%-107%74%
Bmk -ve Days11212859114326
Stock -ve Days9193165125290

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with PACS
PACS281.4%102.0%1.71-
Sector ETF (XLV)26.9%16.0%1.309.8%
Equity (SPY)20.6%12.8%1.195.5%
Gold (GLD)35.6%28.8%1.050.8%
Commodities (DBC)40.3%20.3%1.55-11.4%
Real Estate (VNQ)11.0%13.7%0.5211.7%
Bitcoin (BTCUSD)-29.7%43.6%-0.69-6.9%

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Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with PACS
PACS15.0%82.4%0.70-
Sector ETF (XLV)6.5%15.1%0.2418.5%
Equity (SPY)13.4%17.2%0.6013.8%
Gold (GLD)20.5%18.7%0.891.9%
Commodities (DBC)11.0%19.6%0.44-3.2%
Real Estate (VNQ)2.2%18.9%0.0121.7%
Bitcoin (BTCUSD)11.0%52.7%0.39-0.6%

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Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with PACS
PACS7.2%82.4%0.70-
Sector ETF (XLV)10.6%16.7%0.5118.5%
Equity (SPY)15.3%17.9%0.7213.8%
Gold (GLD)12.6%16.3%0.641.9%
Commodities (DBC)7.5%18.1%0.33-3.2%
Real Estate (VNQ)5.0%20.7%0.2021.7%
Bitcoin (BTCUSD)63.6%66.1%1.03-0.6%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date8142026
Short Interest: Shares Quantity3.6 Mil
Short Interest: % Change Since 7312026-6.2%
Average Daily Volume1.0 Mil
Days-to-Cover Short Interest3.6 days
Basic Shares Quantity158.1 Mil
Short % of Basic Shares2.3%

Earnings Returns History

Updated 8/13/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/4/20261.9%0.3% 
5/11/202628.6%15.4%7.6%
2/26/2026-12.4%-14.6%-26.6%
11/19/202555.3%91.1%119.1%
9/11/202524.5%45.5%69.9%
11/6/2024-38.8%-30.5%-50.5%
8/12/202418.8%23.1%22.2%
5/13/20247.3%13.8%17.8%
SUMMARY STATS   
# Positive665
# Negative222
Median Positive21.7%19.2%22.2%
Median Negative-25.6%-22.6%-38.5%
Max Positive55.3%91.1%119.1%
Max Negative-38.8%-30.5%-50.5%
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 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/4/20261.9%0.3% 
5/11/202628.6%15.4%7.6%
2/26/2026-12.4%-14.6%-26.6%
11/19/202555.3%91.1%119.1%
9/11/202524.5%45.5%69.9%
11/6/2024-38.8%-30.5%-50.5%
8/12/202418.8%23.1%22.2%
5/13/20247.3%13.8%17.8%
SUMMARY STATS   
# Positive665
# Negative222
Median Positive21.7%19.2%22.2%
Median Negative-25.6%-22.6%-38.5%
Max Positive55.3%91.1%119.1%
Max Negative-38.8%-30.5%-50.5%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/04/202610-Q
03/31/202605/11/202610-Q
12/31/202502/27/202610-K
09/30/202511/19/202510-Q
06/30/202511/19/202510-Q
03/31/202511/19/202510-Q
12/31/202411/19/202510-K
09/30/202411/19/202510-Q
06/30/202408/12/202410-Q
03/31/202405/13/202410-Q
12/31/202304/12/2024424B4
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Report DateFiling DateFiling
06/30/202608/04/202610-Q
03/31/202605/11/202610-Q
12/31/202502/27/202610-K
09/30/202511/19/202510-Q
06/30/202511/19/202510-Q
03/31/202511/19/202510-Q
12/31/202411/19/202510-K
09/30/202411/19/202510-Q
06/30/202408/12/202410-Q
03/31/202405/13/202410-Q
12/31/202304/12/2024424B4

Recent Forward Guidance

Updated 8/5/2026

Latest: Q2 2026 Earnings Reported 8/4/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2026 Revenue5.75 Bil5.80 Bil5.85 Bil  RaisedGuidance: 5.70 Bil for 2026
2026 Adjusted EBITDA640.00 Mil650.00 Mil660.00 Mil  RaisedGuidance: 615.00 Mil for 2026

Prior: Q1 2026 Earnings Reported 5/11/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2026 Adjusted EBITDA605.00 Mil615.00 Mil625.00 Mil8.8% RaisedGuidance: 565.00 Mil for 2026
2026 Revenue5.65 Bil5.70 Bil5.75 Bil0 AffirmedGuidance: 5.70 Bil for 2026

Q4 2025 Earnings Reported 2/26/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2026 Revenue5.65 Bil5.70 Bil5.75 Bil7.5% Higher NewGuidance: 5.30 Bil for 2025
2026 Adjusted EBITDA555.00 Mil565.00 Mil575.00 Mil16.5% Higher NewGuidance: 485.00 Mil for 2025

Insider Activity

Updated 8/27/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Conway, Patrick Hugh DirectSell827202644.413,497155,302397,336Form
2Murray, Jason HulseCo-Founder, CEO & ChairmanDirectSell824202643.9059,2442,601,0862,401,357,754Form
3Murray, Jason HulseCo-Founder, CEO & ChairmanDirectSell824202643.9291,3064,010,3472,404,912,894Form
4Murray, Jason HulseCo-Founder, CEO & ChairmanDirectSell819202644.2684,7173,749,9952,427,730,191Form
5Murray, Jason HulseCo-Founder, CEO & ChairmanDirectSell819202644.1866,7972,951,1382,426,851,727Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Conway, Patrick Hugh DirectSell827202644.413,497155,302397,336Form
2Murray, Jason HulseCo-Founder, CEO & ChairmanDirectSell824202643.9059,2442,601,0862,401,357,754Form
3Murray, Jason HulseCo-Founder, CEO & ChairmanDirectSell824202643.9291,3064,010,3472,404,912,894Form
4Murray, Jason HulseCo-Founder, CEO & ChairmanDirectSell819202644.2684,7173,749,9952,427,730,191Form
5Murray, Jason HulseCo-Founder, CEO & ChairmanDirectSell819202644.1866,7972,951,1382,426,851,727Form
6Murray, Jason HulseCo-Founder, CEO & ChairmanDirectSell819202644.1684,6023,736,3012,428,844,387Form
7Jergensen, JoshuaPresident & COODirectSell814202645.5940,0001,823,689115,636,490Form
8Hancock, Mark DirectSell716202645.053,332150,1152,428,639,891Form
9Jergensen, JoshuaPresident & COODirectSell716202645.0240,0001,800,718115,980,626Form
10Hancock, Mark DirectSell716202645.0310,296463,6802,427,846,578Form
11Hancock, Mark DirectSell710202645.064,966223,7812,429,803,856Form
12Hancock, Mark DirectSell710202645.0720,338916,6112,430,361,975Form
13Lewis, Michelle ReneeChief Accounting OfficerDirectSell706202645.044,137186,33316,004,637Form
14Hancock, Mark DirectSell706202645.33142,1636,444,8602,445,595,806Form
15Lewis, Michelle ReneeChief Accounting OfficerDirectSell706202645.036,663300,03216,187,015Form
16Hancock, Mark DirectSell706202645.0112,825577,2902,434,656,790Form
17Lewis, Michelle ReneeChief Accounting OfficerDirectSell706202645.014,200189,05916,481,373Form
18Hancock, Mark DirectSell706202645.026,080273,7162,435,569,505Form
19Hancock, MarkCo Fndr; Exec V ChairDirectSell626202640.5061,9312,508,0852,191,050,145Form
20Hancock, MarkCo Fndr; Exec V ChairDirectSell626202640.33138,0695,567,7012,184,211,674Form
21Lewis, Michelle ReneeChief Accounting OfficerDirectSell626202640.0115,000600,17814,817,927Form
22Hancock, MarkCo Fndr; Exec V ChairDirectSell622202635.3163,6802,248,4151,917,317,697Form
23Hancock, MarkCo Fndr; Exec V ChairDirectSell617202635.9083,0662,982,3851,951,955,936Form
24Hancock, MarkCo Fndr; Exec V ChairDirectSell617202636.34153,2545,568,7561,978,513,308Form
25Mitchell, John ToddChief Legal Officer & Sec.DirectSell519202637.1627,3891,017,69229,858,080Form
26Mitchell, John ToddChief Legal Officer & Sec.DirectSell519202638.0252,7632,006,01431,592,353Form
27Jergensen, JoshuaPresident & COODirectSell317202634.2836,3351,245,64791,442,790Form
28Dilsaver, Evelyn S DirectBuy1126202529.9016,724499,997679,828Form
29Mitchell, John ToddChief Legal Officer & Sec.DirectSell1126202529.89159,5564,768,37922,588,386Form

Investor Activity (13F)

Updated Aug 28, 2026
13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Defilade Capital Management, L.P.$25.6 Mil3.6%31TRIM -47.3%13F
Active Manager
Active ManagerValue% of PortfolioTotal PositionsQoQAs OfFiling
8 Knots Management, LLC$23.4 Mil2.7%12ExitedDec 31, 202513F
Defilade Capital Management, L.P.$25.6 Mil3.6%31TRIM -47.3%Mar 31, 202613F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Defilade Capital Management, L.P.$25.6 Mil3.6%31TRIM -47.3%13F
Core Cache Last Updated: 8/27/2026