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Side-by-side financial comparison of PACS Group, Inc. (PACS) and Frontier Group Holdings, Inc. (ULCC). Click either name above to swap in a different company.
PACS Group, Inc. is the larger business by last-quarter revenue ($1.4B vs $997.0M, roughly 1.4× Frontier Group Holdings, Inc.). Frontier Group Holdings, Inc. runs the higher net margin — 5.3% vs 4.4%, a 0.9% gap on every dollar of revenue. On growth, PACS Group, Inc. posted the faster year-over-year revenue change (18.4% vs -0.5%). Over the past eight quarters, PACS Group, Inc.'s revenue compounded faster (20.5% CAGR vs 7.4%).
Frontier Communications Parent, Inc. is an American telecommunications company with a fiber-optic network and cloud-based services owned by Verizon. It was previously known as Citizens Utilities Co., Citizens Communications Co., and Frontier Communications Corp.
PACS vs ULCC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.4B | $997.0M |
| Net Profit | $59.7M | $53.0M |
| Gross Margin | — | — |
| Operating Margin | 7.0% | 4.9% |
| Net Margin | 4.4% | 5.3% |
| Revenue YoY | 18.4% | -0.5% |
| Net Profit YoY | 3022.5% | -1.9% |
| EPS (diluted) | $0.42 | $0.24 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $1.4B | $997.0M | ||
| Q3 25 | $1.3B | $886.0M | ||
| Q2 25 | $1.3B | $929.0M | ||
| Q1 25 | $1.3B | $912.0M | ||
| Q4 24 | $1.1B | $1.0B | ||
| Q3 24 | $1.0B | $935.0M | ||
| Q2 24 | $981.4M | $973.0M | ||
| Q1 24 | $934.3M | $865.0M |
| Q4 25 | $59.7M | $53.0M | ||
| Q3 25 | $52.4M | $-77.0M | ||
| Q2 25 | $51.0M | $-70.0M | ||
| Q1 25 | $28.5M | $-43.0M | ||
| Q4 24 | $1.9M | $54.0M | ||
| Q3 24 | $15.6M | $26.0M | ||
| Q2 24 | $-10.9M | $31.0M | ||
| Q1 24 | $49.1M | $-26.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 17.1% | — | ||
| Q2 24 | 22.3% | — | ||
| Q1 24 | 21.2% | — |
| Q4 25 | 7.0% | 4.9% | ||
| Q3 25 | 6.4% | -8.7% | ||
| Q2 25 | 6.2% | -8.1% | ||
| Q1 25 | 3.8% | -5.0% | ||
| Q4 24 | 1.7% | 4.5% | ||
| Q3 24 | 2.2% | 2.0% | ||
| Q2 24 | 0.1% | 2.6% | ||
| Q1 24 | 8.6% | -3.6% |
| Q4 25 | 4.4% | 5.3% | ||
| Q3 25 | 3.9% | -8.7% | ||
| Q2 25 | 3.9% | -7.5% | ||
| Q1 25 | 2.2% | -4.7% | ||
| Q4 24 | 0.2% | 5.4% | ||
| Q3 24 | 1.5% | 2.8% | ||
| Q2 24 | -1.1% | 3.2% | ||
| Q1 24 | 5.3% | -3.0% |
| Q4 25 | $0.42 | $0.24 | ||
| Q3 25 | $0.32 | $-0.34 | ||
| Q2 25 | $0.31 | $-0.31 | ||
| Q1 25 | $0.17 | $-0.19 | ||
| Q4 24 | $-0.03 | $0.24 | ||
| Q3 24 | $0.10 | $0.11 | ||
| Q2 24 | $-0.07 | $0.14 | ||
| Q1 24 | $0.38 | $-0.12 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $197.0M | $671.0M |
| Total DebtLower is stronger | $353.2M | $620.0M |
| Stockholders' EquityBook value | $946.8M | $491.0M |
| Total Assets | $5.6B | $7.2B |
| Debt / EquityLower = less leverage | 0.37× | 1.26× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $197.0M | $671.0M | ||
| Q3 25 | $355.7M | $566.0M | ||
| Q2 25 | $294.2M | $563.0M | ||
| Q1 25 | $287.5M | $686.0M | ||
| Q4 24 | $157.7M | $740.0M | ||
| Q3 24 | $49.5M | $576.0M | ||
| Q2 24 | $73.4M | $658.0M | ||
| Q1 24 | $81.2M | $622.0M |
| Q4 25 | $353.2M | $620.0M | ||
| Q3 25 | — | $673.0M | ||
| Q2 25 | — | $565.0M | ||
| Q1 25 | — | $512.0M | ||
| Q4 24 | $411.9M | $507.0M | ||
| Q3 24 | — | $474.0M | ||
| Q2 24 | — | $455.0M | ||
| Q1 24 | — | $469.0M |
| Q4 25 | $946.8M | $491.0M | ||
| Q3 25 | $871.3M | $434.0M | ||
| Q2 25 | $806.8M | $506.0M | ||
| Q1 25 | $750.2M | $570.0M | ||
| Q4 24 | $709.6M | $604.0M | ||
| Q3 24 | $660.0M | $549.0M | ||
| Q2 24 | $572.1M | $520.0M | ||
| Q1 24 | $128.0M | $484.0M |
| Q4 25 | $5.6B | $7.2B | ||
| Q3 25 | $5.6B | $6.7B | ||
| Q2 25 | $5.5B | $6.5B | ||
| Q1 25 | $5.5B | $6.5B | ||
| Q4 24 | $5.2B | $6.2B | ||
| Q3 24 | $4.5B | $5.8B | ||
| Q2 24 | $3.9B | $5.7B | ||
| Q1 24 | $3.9B | $5.2B |
| Q4 25 | 0.37× | 1.26× | ||
| Q3 25 | — | 1.55× | ||
| Q2 25 | — | 1.12× | ||
| Q1 25 | — | 0.90× | ||
| Q4 24 | 0.58× | 0.84× | ||
| Q3 24 | — | 0.86× | ||
| Q2 24 | — | 0.88× | ||
| Q1 24 | — | 0.97× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-3.4M | $-91.0M |
| Free Cash FlowOCF − Capex | — | $-113.0M |
| FCF MarginFCF / Revenue | — | -11.3% |
| Capex IntensityCapex / Revenue | — | 2.2% |
| Cash ConversionOCF / Net Profit | -0.06× | -1.72× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-600.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-3.4M | $-91.0M | ||
| Q3 25 | $204.8M | $-215.0M | ||
| Q2 25 | $52.6M | $-133.0M | ||
| Q1 25 | $150.2M | $-86.0M | ||
| Q4 24 | $64.6M | $87.0M | ||
| Q3 24 | $209.2M | $-156.0M | ||
| Q2 24 | $34.8M | $9.0M | ||
| Q1 24 | $58.8M | $-22.0M |
| Q4 25 | — | $-113.0M | ||
| Q3 25 | — | $-217.0M | ||
| Q2 25 | — | $-166.0M | ||
| Q1 25 | — | $-104.0M | ||
| Q4 24 | — | $73.0M | ||
| Q3 24 | — | $-170.0M | ||
| Q2 24 | — | $-22.0M | ||
| Q1 24 | — | $-39.0M |
| Q4 25 | — | -11.3% | ||
| Q3 25 | — | -24.5% | ||
| Q2 25 | — | -17.9% | ||
| Q1 25 | — | -11.4% | ||
| Q4 24 | — | 7.3% | ||
| Q3 24 | — | -18.2% | ||
| Q2 24 | — | -2.3% | ||
| Q1 24 | — | -4.5% |
| Q4 25 | — | 2.2% | ||
| Q3 25 | — | 0.2% | ||
| Q2 25 | — | 3.6% | ||
| Q1 25 | — | 2.0% | ||
| Q4 24 | — | 1.4% | ||
| Q3 24 | — | 1.5% | ||
| Q2 24 | — | 3.2% | ||
| Q1 24 | — | 2.0% |
| Q4 25 | -0.06× | -1.72× | ||
| Q3 25 | 3.91× | — | ||
| Q2 25 | 1.03× | — | ||
| Q1 25 | 5.28× | — | ||
| Q4 24 | 33.78× | 1.61× | ||
| Q3 24 | 13.39× | -6.00× | ||
| Q2 24 | — | 0.29× | ||
| Q1 24 | 1.20× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PACS
Segment breakdown not available.
ULCC
| Aircraft Fare | $453.0M | 45% |
| Passenger Service Fees | $227.0M | 23% |
| Passenger Baggage | $177.0M | 18% |
| Passenger Seat Selection | $69.0M | 7% |
| Other Passenger Revenue | $36.0M | 4% |
| Other | $35.0M | 4% |
