Ensign Group, Inc filed its 10-Q with the SEC, and its figures are now in our data. Revenue over the twelve months to Q3 2026 was $5.7 billion, up 17.5% on the year before. That growth rate was down 1.4 percentage points from a quarter earlier.
Source: SEC EDGAR XBRL company facts. Latest period shown: FY26 Q3.
View chart data
| Period | Revenue growth, TTM YoY | Operating margin (TTM) | FCF margin (TTM) |
|---|---|---|---|
| FY24 Q4 | 14.2% | 8.4% | 6.2% |
| FY25 Q1 | 14.8% | 8.5% | 6.7% |
| FY25 Q2 | 16.3% | 8.6% | 8.0% |
| FY25 Q3 | 17.5% | 8.3% | 7.9% |
| FY25 Q4 | 18.7% | 8.4% | 9.1% |
| FY26 Q1 | 19.2% | 8.5% | 9.2% |
| FY26 Q2 | 18.9% | 8.5% | 9.0% |
| FY26 Q3 | 17.5% | 9.0% | 10.1% |
What stands out
Net income rose 21.6% over the year while free cash flow rose 50.4%, indicating reported profit and cash are moving at different speeds.
Profit and margins
Cash flow grew far faster than profit, telling two different stories. The trailing gross margin was 21.2%. The trailing operating margin was 9.0%, up 0.6 percentage points from a year earlier. Meanwhile, the trailing net margin was 7.0%. Net income over the twelve months was $399.1 million, which rose 21.6% on the year before.
Cash flow
Operating cash flow over the twelve months was $695.7 million, up 44.5% on the year before. Capital spending, estimated from depreciation because the company no longer reports it in a standard form, was about $120.6 million. Free cash flow, operating cash flow less that estimate, was about $575.1 million.
Shares outstanding
The average diluted share count rose 1.3% over the year.
Against its own history
Set against the company’s own record, today’s free-cash-flow margin of 10.1% is higher than 85% of the company’s own past quarterly readings, which have ranged from 5.9% to 13.4%. Today’s operating margin of 9.0% is higher than 70% of past readings (4.6% to 9.9%). Today’s twelve-month revenue growth rate of 17.5% is higher than 55% of past readings (−0.7% to 35.1%).
Guidance
The company raised its annual 2026 guidance for annual 2026 earnings guidance to a range of $7.75 to $7.85. The company raised its annual guidance for annual revenue guidance to a range of $5.87 billion to $5.92 billion. The company gave its annual guidance for tax rate of 25%.
The valuation angle
Our model translates these figures into value. In our model, growth 5 percentage points lower would lower the value by 23.8%, and 5 percentage points higher would raise it by 30.6%. A free-cash-flow margin 1 percentage point lower would lower it by 9.7%.
What to watch
The next filing will show whether the trends above continue, slow or reverse.
