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DocGo vs Pennant: revenue, profit, margins and growth compared

DocGo brought in $322.2M of revenue in fiscal 2025, Pennant $947.7M in fiscal 2025. Revenue changed by -47.7% at DocGo and +36.3% at Pennant on the year before, so Pennant grew faster. DocGo kept -56.6% of its revenue as net profit, Pennant 3.1%. Free cash flow was $29.9M at DocGo and $36.3M at Pennant.

Side by side, latest fiscal year

DCGOPNTG
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$322.2M$947.7M
Revenue growth-47.7%+36.3%
Net income-$182.4M$29.6M
Net margin-56.6%3.1%
Free cash flow$29.9M$36.3M
Free cash flow margin9.3%3.8%
Earnings per share (diluted)-$1.84$0.84
Cash$51M$17M
Debt$235.6K$168.8M
Price to earningsn/a48.5
Market value$34.1M$1.4B
Dividend yieldn/an/a
Rank by revenue in sector#217 of 523 · Health care#148 of 523 · Health care

Over the years

Revenue
DCGO FY2020: $94.1MDCGO FY2021: $318.7MDCGO FY2022: $440.5MDCGO FY2023: $624.3MDCGO FY2024: $616.6MDCGO FY2025: $322.2MPNTG FY2019: $286.1MPNTG FY2019: $338.5MPNTG FY2020: $391MPNTG FY2021: $439.7MPNTG FY2022: $473.2MPNTG FY2023: $544.9MPNTG FY2024: $695.2MPNTG FY2025: $947.7MFY19FY20FY21FY22FY23FY24FY25
DCGO $322.2MPNTG $947.7M
Net income
DCGO FY2020: -$14.8MDCGO FY2021: $23.7MDCGO FY2022: $34.6MDCGO FY2023: $6.9MDCGO FY2024: $20MDCGO FY2025: -$182.4MPNTG FY2019: $15.7MPNTG FY2019: $2.5MPNTG FY2020: $15.7MPNTG FY2021: $2.7MPNTG FY2022: $6.6MPNTG FY2023: $13.4MPNTG FY2024: $22.6MPNTG FY2025: $29.6MFY19FY20FY21FY22FY23FY24FY25
DCGO -$182.4MPNTG $29.6M
Net margin
DCGO FY2020: -15.7%DCGO FY2021: 7.4%DCGO FY2022: 7.9%DCGO FY2023: 1.1%DCGO FY2024: 3.2%DCGO FY2025: -56.6%PNTG FY2019: 5.5%PNTG FY2019: 0.8%PNTG FY2020: 4.0%PNTG FY2021: 0.6%PNTG FY2022: 1.4%PNTG FY2023: 2.5%PNTG FY2024: 3.2%PNTG FY2025: 3.1%FY19FY20FY21FY22FY23FY24FY25
DCGO -56.6%PNTG 3.1%
Revenue growth
DCGO FY2021: +238.7%DCGO FY2022: +38.2%DCGO FY2023: +41.7%DCGO FY2024: -1.2%DCGO FY2025: -47.7%PNTG FY2019: +18.3%PNTG FY2020: +15.5%PNTG FY2021: +12.5%PNTG FY2022: +7.6%PNTG FY2023: +15.1%PNTG FY2024: +27.6%PNTG FY2025: +36.3%FY19FY20FY21FY22FY23FY24FY25
DCGO -47.7%PNTG +36.3%
Free cash flow
DCGO FY2020: -$15MDCGO FY2021: -$6.8MDCGO FY2022: $25.7MDCGO FY2023: -$71.8MDCGO FY2024: $66.5MDCGO FY2025: $29.9MPNTG FY2019: $19.7MPNTG FY2019: $2.8MPNTG FY2020: $43MPNTG FY2021: -$24.5MPNTG FY2022: -$5.1MPNTG FY2023: $25MPNTG FY2024: $30.3MPNTG FY2025: $36.3MFY19FY20FY21FY22FY23FY24FY25
DCGO $29.9MPNTG $36.3M

Fiscal years as each company reports them; the two may end in different months.

Questions about DocGo and Pennant

Which is bigger by revenue, DocGo or Pennant?

Pennant is bigger by revenue: $947.7M in fiscal 2025, against $322.2M for DocGo in fiscal 2025.

Which keeps more of its revenue as profit, DocGo or Pennant?

DocGo had a net margin of -56.6% in fiscal 2025; Pennant had 3.1% in fiscal 2025.

Which grew revenue faster, DocGo or Pennant?

In their latest fiscal years revenue changed by -47.7% at DocGo and +36.3% at Pennant.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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