NATIONAL HEALTHCARE CORP vs PACS Group, Inc., two Medical Care stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
National HealthCare and PACS run the same business, skilled nursing, with opposite temperaments: NHC is the incumbent that never borrowed, decades of Tennessee-centered facilities on a debt-free sheet, while PACS is the acquirer that turns distressed facilities around with 0.24 turns of leverage and twice the pace, a 23.4% return on equity against 11.3%. The margins tie exactly at 8.5% operating. The market prices the temperaments within 1.5 turns, 25.5 and 27 times earnings, charging almost nothing extra for the growth engine. PACS also yields more cash, 7.2% against 5.3%. Same beds, same payers, one price; the difference a buyer chooses is velocity.
Comparison updated 2026-07-10.
| Metric | NHC | PACS |
|---|---|---|
| Price | $200.71 | $41.88 |
| Market cap | $3.2B | $6.8B |
| Sector | Medical Care | Medical Care |
| Stage | Mature | Growth |
| Implied growth (priced in) | +13.2% | +7.9% |
| P/E | 25.5 | 27.0 |
| P/B | 2.89 | 6.51 |
| P/S | 2.07 | 1.25 |
| EV/EBITDA | 17.6 | 17.8 |
| Revenue growth | +11.0% | +23.6% |
| Operating margin | 8.4% | 8.4% |
| Net margin | 8.1% | 4.5% |
| Return on equity | 11.3% | 23.4% |
| Return on assets | 8.1% | 4.3% |
| Return on invested capital | 9.5% | 21.0% |
| FCF yield | 5.3% | 7.2% |
| Dividend yield | 1.3% | 0.5% |
| Debt / equity | 0.00 | 0.24 |
| Current ratio | 1.86 | 0.99 |
| Altman Z (solvency) | 6.47 | 2.01 |
| Piotroski F (quality) | 6 / 9 | 7 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.