PACS Group, Inc. vs TENET HEALTHCARE CORP, two Medical Care stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
PACS carries 0.24 turns of debt, Tenet 1.97, and the lighter sheet belongs to the far more expensive stock: 27 times earnings against 9.8, nearly triple per dollar of profit for the skilled-nursing operator over the hospital system. Tenet's economics currently dwarf PACS', a 24.1% operating margin against 8.5%, a 20.4% free-cash yield against 7.2%, and its geared 39.5% return on equity still beats PACS' clean 23.4% after deflation to assets, 8.5% against 4.3%. What PACS' premium buys is trust in reimbursement steadiness and a clean balance sheet; what Tenet's discount encodes is disbelief that hospital margins hold. The disbelief is being paid handsomely to persist.
Comparison updated 2026-07-10.
| Metric | PACS | THC |
|---|---|---|
| Price | $41.88 | $187.50 |
| Market cap | $6.8B | $16.4B |
| Sector | Medical Care | Medical Care |
| Stage | Growth | Mature |
| Implied growth (priced in) | +7.9% | — |
| P/E | 27.0 | 9.8 |
| P/B | 6.51 | 2.45 |
| P/S | 1.25 | 0.77 |
| EV/EBITDA | 17.8 | 5.6 |
| Revenue growth | +23.6% | +4.5% |
| Operating margin | 8.4% | 24.1% |
| Net margin | 4.5% | 12.4% |
| Return on equity | 23.4% | 39.5% |
| Return on assets | 4.3% | 8.5% |
| Return on invested capital | 21.0% | 15.5% |
| FCF yield | 7.2% | 20.4% |
| Dividend yield | 0.5% | — |
| Debt / equity | 0.24 | 1.97 |
| Current ratio | 0.99 | 1.36 |
| Altman Z (solvency) | 2.01 | 1.58 |
| Piotroski F (quality) | 7 / 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.