Pacs Group vs Surgery Partners
Pacs Group is the larger business, with $5.29bn of revenue in fiscal 2025 against $3.31bn for Surgery Partners (1.6 times as much). Pacs Group grew faster (29.3% against 6.2%). Pacs Group kept more of each dollar of sales as profit: a net margin of 3.6% against -2.4%. Pacs Group carries less debt relative to equity (37.3% against 218.1%).
| Latest fiscal year | Pacs GroupPACS, 2025 | Surgery PartnersSGRY, 2025 |
|---|---|---|
| Revenue | $5.29bn | $3.31bn |
| Revenue growth | 29.3% | 6.2% |
| Net income | $192m | −$77.9m |
| Operating margin | 5.9% | 11.8% |
| Net margin | 3.6% | -2.4% |
| Return on equity | 23.1% | -4.4% |
| Free cash flow | $299m | $196m |
| Cash | $197m | $240m |
| Total debt | $353m | $3.74bn |
| Debt to equity | 37.3% | 218.1% |
| Dividend per share | — | — |
| Dividend yield | 0.0% | — |
| Share buybacks | — | — |
| Employees | 47,455 | 16,000 |
| Market value | $7.35bn | $3.03bn |
| Price vs our value range | Below our value range | — |
| Moat score | — | 40 (Weak) |
| Insider trades, 12 months | 1 buys, 88 sales | 2 buys, 12 sales |