The Pennant Group, Inc.
pennantgroup.comWhat Do They Do?
Provides home health and hospice care to patients, and senior living services to residents.
10-K for FY2025, filed Feb 26, 2026
How Do They Make Money?
Medicare, Medicaid, managed-care plans and private payors pay for home health and hospice care as services are provided: home health is billed by 30-day periods or visits, while hospice uses daily rates. Senior living revenue comes mainly from private pay, with some Medicaid or state-program payments.
10-K for FY2025, filed Feb 26, 2026Revenue Recognition - Revenues are recognized when services are provided to the patients at the amount that reflects the consideration to…View ↗
Revenue is recognized when services are provided to the patients at the amount that reflects the consideration to which the Company expects…View ↗
Net service revenue is recognized in accordance with the Patient Driven Groupings Model (“PDGM”). Under PDGM, Medicare provides agencies…View ↗
Non-episodic Based Revenue - Revenue is recognized on an accrual basis based upon the date of service at amounts equal to its established…View ↗
Revenue is recognized on an accrual basis based upon the date of service at amounts equal to the estimated payment rates. The estimated…View ↗
Senior Living. As of December 31, 2025, we provided assisted living, independent living and memory care services in 63 communities with…View ↗
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10-K for FY2025, filed Feb 26, 2026
FY2025 revenue by reportable segment ↗
$947.7M
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10-K for FY2025, filed Feb 26, 2026
$947.7M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Home Health and Hospice Services
Usage-based
10-K for FY2025, filed Feb 26, 2026 |
77%
FY2022: 71%
|
Home Health and Hospice Services, FY2025
$731.4M Sources
|
Usage-based |
|
Senior Living Services
|
22%
FY2022: 27%
|
Senior Living Services, FY2025
$210.1M Sources
|
Who Are Their Customers?
Patients receive care through local agencies, and residents receive services in senior living communities; local health providers and referral sources help direct patients to Pennant’s operations, which work with payors and other providers on care solutions.
10-K for FY2025, filed Feb 26, 2026As of December 31, 2025, we operate in multiple lines of business, including home health, hospice, and senior living services across…View ↗
We are a trusted partner to, and work closely with, payors and acute and post-acute providers to deliver innovative healthcare solutions in…View ↗
Home Health and Hospice. As of December 31, 2025, we provided home health and hospice services through 172 agencies. We also provide home…View ↗
Senior Living. As of December 31, 2025, we provided assisted living, independent living and memory care services in 63 communities with…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 3 cents of every revenue dollar as net income in FY2025 and turned 4 cents into free cash flow.
10-K for FY2025, filed Feb 26, 2026
$51.9MView ↗
10-K for FY2025, filed Feb 26, 2026
$29.6MView ↗
10-K for FY2025, filed Feb 26, 2026
$36.3MView ↗
How Are They Changing?
10-Q for Q2 FY2026, filed Aug 5, 2026
Open tableView ↗
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Aug 5, 2026
Updated full-year financial guidance
For 2026, revenue is anticipated at $1,171.1 million to $1,190.1 million, with adjusted earnings per diluted share of $1.34 to $1.41.
Sources
8-K, filed Aug 5, 2026
Management is providing updating 2026 annual guidance as follows: total revenue is anticipated to be between $1,171.1 million and $1,190.1…View ↗
Growing. Revenue grew 2.2x in 4 years, from $439.7M in FY2021 to $947.7M in FY2025, about 21% a year.
Additional care services
The latest report’s home health and hospice segment includes geriatric primary and palliative care; the older report described home health, hospice and home care.
10-K for FY2022, filed Feb 23, 2023 10-K for FY2025, filed Feb 26, 2026We have two reportable segments: (1) home health and hospice services, which includes our home health, hospice and home care businesses…View ↗
We have two reportable segments: (1) home health and hospice services, which includes our home health, hospice, home care, and geriatric…View ↗
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