Pennant (PNTG) Operating Expenses (2018 - 2026)
Pennant (PNTG) reported Operating Expenses of $280.8 million for Q2 2026, up 35.0% from $207.97 million a year earlier and up 4.8% from the prior quarter.
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Analysis
Pennant (PNTG) Operating Expenses (2018 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Pennant's Operating Expenses came in at $1.04 billion, up 37.7% year-over-year; for FY2025, it was $895.82 million, up 36.3% from FY2024.
- Operating Expenses has increased for eight consecutive years, with a five-year compound annual growth rate of 19.2% (FY2020 to FY2025).
- By year, Operating Expenses came in at $657.12 million in FY2024 (+26.4%), $519.72 million in FY2023 (+12.9%), $460.5 million in FY2022 (+5.9%) and $435 million in FY2021 (+16.9%).
- The Q2 2026 figure ranks as the highest quarterly Operating Expenses in data going back to Q3 2018.
- Year over year, Operating Expenses has now increased in each of the last 28 quarters, with growth averaging 34.0% over the last eight quarters.
- Across the past five years, year-over-year growth in Operating Expenses ran from 0.9% in Q3 2022 to 51.3% in Q4 2025.
- Per Business Quant data, the three quarters before Q2 2026 came in at $268.06 million (Q1 2026), $271.85 million (Q4 2025) and $218.8 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | HCA Healthcare | 93.06 Bn | 92.50 Bn | - | 17.74 Bn |
| 2 | Natera | 59.36 Bn | 55.04 Bn | 485.19 Mn | 828.54 Mn |
| 3 | Quest Diagnostics | 25.72 Bn | 24.15 Bn | 1.03 Bn | 2.58 Bn |
| 4 | Labcorp Holdings | 24.93 Bn | 22.69 Bn | 1.11 Bn | 582.30 Mn |
| 5 | Guardant Health | 23.83 Bn | 19.89 Bn | 219.03 Mn | 464.10 Mn |
| 6 | Tenet Healthcare | 20.58 Bn | 11.72 Bn | - | - |
| 7 | Tempus AI | 14.35 Bn | 11.38 Bn | 246.50 Mn | 458.40 Mn |
| 8 | Encompass Health | 11.99 Bn | 12.46 Bn | - | 1.31 Bn |
| 9 | BrightSpring Health Services | 11.21 Bn | 9.55 Bn | 492.75 Mn | 362.36 Mn |
| 10 | Pennant | 1.36 Bn | 1.40 Bn | 55.35 Mn | 280.80 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 280.80 Mn |
| Mar 31, 2026 | 268.06 Mn |
| Dec 31, 2025 | 271.85 Mn |
| Sep 30, 2025 | 218.80 Mn |
| Jun 30, 2025 | 207.97 Mn |
| Mar 31, 2025 | 197.19 Mn |
| Dec 31, 2024 | 179.66 Mn |
| Sep 30, 2024 | 169.89 Mn |
| Jun 30, 2024 | 159.18 Mn |
| Mar 31, 2024 | 148.39 Mn |
| Dec 31, 2023 | 138.39 Mn |
| Sep 30, 2023 | 133.13 Mn |
| Jun 30, 2023 | 126.02 Mn |
| Mar 31, 2023 | 122.18 Mn |
| Dec 31, 2022 | 118.28 Mn |
| Sep 30, 2022 | 111.21 Mn |
| Jun 30, 2022 | 119.43 Mn |
| Mar 31, 2022 | 111.58 Mn |
| Dec 31, 2021 | 113.95 Mn |
| Sep 30, 2021 | 110.22 Mn |
API Access
Pennant Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=PNTG&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "PNTG", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=PNTG&period=max&api_key=YOUR_API_KEY");
const data = await res.json();