PIMCO Access Income Fund
NYSE: PAXS · FINANCIAL SERVICES · ASSET MANAGEMENT
Updated 2026-10-30
PIMCO Access Income Fund (PAXS) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|
| Revenue | $-102.42M | $-4.09M | $117.99M | $115.06M | $78.14M |
| Revenue growth (YoY) | — | +96.0% | +2987.0% | -2.5% | -32.1% |
| Cost of revenue | $968000.00 | $26.42M | $31.81M | $25.70M | $20.90M |
| Gross profit | $-102.42M | $-4.09M | $86.18M | $89.36M | $57.24M |
| Gross margin | 100.0% | 100.0% | 73.0% | 77.7% | 73.3% |
| R&D | — | — | — | — | — |
| SG&A | $56000.00 | $92000.00 | $79000.00 | $102000.00 | $107000.00 |
| Operating income | $-102.48M | $-4.18M | $86.10M | $89.26M | $57.13M |
| Operating margin | 100.1% | 102.3% | 73.0% | 77.6% | 73.1% |
| EBITDA | $-102.48M | $-4.18M | $86.10M | $89.26M | $57.13M |
| EBITDA margin | 100.1% | 102.3% | 73.0% | 77.6% | 73.1% |
| EBIT | $-102.48M | $-4.18M | — | — | — |
| Interest expense | $968000.00 | $26.42M | $31.81M | $25.70M | $20.90M |
| Income tax | — | — | — | — | — |
| Effective tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net income | $-102.48M | $-4.18M | $86.10M | $89.26M | $57.13M |
| Net income growth (YoY) | — | +95.9% | +2160.3% | +3.7% | -36.0% |
| Profit margin | 100.1% | 102.3% | 73.0% | 77.6% | 73.1% |
Frequently asked questions
How profitable is PAXS?
In its most recent fiscal year, PAXS ran a gross margin of 73.25%, an operating margin of 73.11%, and a net margin of 73.11%. Margins this high mean most of each extra dollar of revenue drops through to profit, which is the signature of real pricing power.
How much free cash flow does PAXS generate?
PAXS produced $85.51M in free cash flow in its most recent fiscal year. Free cash flow is what is left after running and reinvesting in the business, and it is the cash that actually funds buybacks, dividends, and a stronger balance sheet.
Is PAXS's balance sheet healthy?
PAXS holds $2.69M in cash and equivalents against — in long-term debt, on $693.54M of shareholder equity. That debt is best read against the cash flow the business throws off each year.