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National Healthcare vs PACS: revenue, profit, margins and growth compared

National Healthcare brought in $1.5B of revenue in fiscal 2025, PACS $5.3B in fiscal 2025. Revenue changed by +16.1% at National Healthcare and +29.3% at PACS on the year before, so PACS grew faster. National Healthcare kept 7.9% of its revenue as net profit, PACS 3.6%.

Side by side, latest fiscal year

NHCPACS
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$1.5B$5.3B
Revenue growth+16.1%+29.3%
Net income$120M$191.5M
Net margin7.9%3.6%
Free cash flow$148.6Mn/a
Free cash flow margin9.8%n/a
Earnings per share (diluted)$7.67$1.22
Cash$92.8M$197M
Debt$40M$353.2M
Price to earnings29.633.9
Market value$3.6B$6.5B
Dividend yield1.11%n/a
Rank by revenue in sector#120 of 523 · Health care#59 of 523 · Health care

Over the years

Revenue
NHC FY2018: $980.3MNHC FY2019: $996.4MNHC FY2020: $1BNHC FY2021: $1.1BNHC FY2022: $1.1BNHC FY2023: $1.1BNHC FY2024: $1.3BNHC FY2025: $1.5BPACS FY2022: $2.4BPACS FY2024: $3.1BPACS FY2024: $4.1BPACS FY2025: $5.3BFY18FY19FY20FY21FY22FY23FY24FY25
NHC $1.5BPACS $5.3B
Net income
NHC FY2018: $59MNHC FY2019: $68.2MNHC FY2020: $41.9MNHC FY2021: $138.6MNHC FY2022: $22.4MNHC FY2023: $66.8MNHC FY2024: $101.9MNHC FY2025: $120MPACS FY2022: $150.5MPACS FY2024: $112.9MPACS FY2024: $55.8MPACS FY2025: $191.5MFY18FY19FY20FY21FY22FY23FY24FY25
NHC $120MPACS $191.5M
Net margin
NHC FY2018: 6.0%NHC FY2019: 6.8%NHC FY2020: 4.1%NHC FY2021: 12.9%NHC FY2022: 2.1%NHC FY2023: 5.9%NHC FY2024: 7.8%NHC FY2025: 7.9%PACS FY2022: 6.2%PACS FY2024: 3.6%PACS FY2024: 1.4%PACS FY2025: 3.6%FY18FY19FY20FY21FY22FY23FY24FY25
NHC 7.9%PACS 3.6%
Revenue growth
NHC FY2019: +1.6%NHC FY2020: +3.2%NHC FY2021: +4.5%NHC FY2022: +1.1%NHC FY2023: +5.1%NHC FY2024: +14.5%NHC FY2025: +16.1%PACS FY2024: +28.5%PACS FY2024: +31.4%PACS FY2025: +29.3%FY19FY20FY21FY22FY23FY24FY25
NHC +16.1%PACS +29.3%
Free cash flow
NHC FY2018: $68.7MNHC FY2019: $73.7MNHC FY2020: $181.4MNHC FY2021: $23MNHC FY2022: -$21.5MNHC FY2023: $83.3MNHC FY2024: $79.7MNHC FY2025: $148.6MFY18FY19FY20FY21FY22FY23FY24FY25
NHC $148.6MPACS

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

Questions about National Healthcare and PACS

Which is bigger by revenue, National Healthcare or PACS?

PACS is bigger by revenue: $5.3B in fiscal 2025, against $1.5B for National Healthcare in fiscal 2025.

Which keeps more of its revenue as profit, National Healthcare or PACS?

National Healthcare had a net margin of 7.9% in fiscal 2025; PACS had 3.6% in fiscal 2025.

Which grew revenue faster, National Healthcare or PACS?

In their latest fiscal years revenue changed by +16.1% at National Healthcare and +29.3% at PACS.

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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