8-K Announcements
6Material company update
May 15, 2026·SEC
Material company update
May 14, 2026·SEC
Material company update
Apr 28, 2026·SEC
P3 Health Partners Inc.(PIII)Earnings, Financials & Key Ratios
PIII•NASDAQ
Price updated Jun 19, 2026
AboutP3 Health Partners Inc., a patient-centered and physician-led population health management company, provides superior care services in the United States. It operates clinics and wellness centers. The company is based in Henderson, Nevada.Show more
- Revenue$1.46B-2.8%
- EBITDA-$186M+20.7%
- Net Income-$148M-8.9%
- EPS (Diluted)-45.26+16.3%
- Gross Margin-9.89%-109.9%
- EBITDA Margin-12.76%+18.4%
- Operating Margin-18.53%+13.3%
- Net Margin-10.14%-12.0%
- ROE-3183.73%-6733.8%
PIII Key Insights
P3 Health Partners Inc. (PIII) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Momentum leader: RS Rating 98 (top 2%)
- ✓Strong 5Y sales CAGR of 24.3%
- ✓Efficient asset utilization: 2.2x turnover
✗Weaknesses
- ✗Profits declining 36.3% over 5 years
- ✗Weak Piotroski F-Score: 2/9
- ✗Negative free cash flow
- ✗Shares diluted 11.2% in last year
- ✗Trading more than 30% below 52-week high
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
Get notified when PIII posts new earnings or crosses analyst targets
Free. No account needed. Unsubscribe any time.
PIII Price & Volume
P3 Health Partners Inc. (PIII) stock price & volume — 10-year historical chart
Loading chart...
PIII Growth Metrics
P3 Health Partners Inc. (PIII) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years24.33%
3 Years11.61%
TTM-0.87%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM8.27%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM23.06%
Return on Capital
10 Years-134.2%
5 Years-73.61%
3 Years-79.78%
Last Year-135.7%
PIII Peer Comparison
P3 Health Partners Inc. (PIII) competitors in Physician platforms and value-based care — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 AGIO | 2.03B | 34.16 | -4.80 | 48.03% | -6.4% | -34.11% | 0.05 | |
 ALHC | 4.47B | 21.86 | -5908.11 | 46.06% | 0.47% | 11.5% | 1.89 | |
 OSCR | 7.36B | 28.40 | -16.80 | 27.5% | -0.3% | -3.26% | 0.44 | |
 CNC | 30.13B | 61.02 | -4.48 | 19.44% | -3.25% | -28.6% | 0.94 | |
 MOH | 10.18B | 195.37 | 21.90 | 11.75% | 0.42% | 4.44% | 0.97 | |
 CVS | 125.45B | 98.32 | 70.73 | 7.85% | 0.72% | 3.86% | 1.24 | |
 HUM | 43.3B | 360.65 | 36.65 | 10.06% | 0.82% | 6.17% | 0.73 | |
 CLOV | 2.59B | 5.00 | -29.41 | 40.34% | -2.58% | -17.08% |
Compare PIII vs Peers
P3 Health Partners Inc. (PIII) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
PIII Income Statement
P3 Health Partners Inc. (PIII) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Metric | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|
Sales/Revenue | 145.48M | 491.06M | 637.36M | 1.05B | 1.27B | 1.5B | 1.46B | 1.47B |
Revenue Growth % | - | 237.54% | 29.79% | 64.66% | 20.67% | 18.48% | -2.76% | -0.87% |
Cost of Goods Sold | 0 | 0 | 668.07M | 0 | 0 | 0 | 1.6B | 726.89M |
COGS % of Revenue | - | - | 104.82% | - | - | - | 109.89% | - |
Gross Profit | 145.48M▲ 0% | 491.06M▲ 237.5% | -30.7M▼ 106.3% | 1.05B▲ 3518.3% | 1.27B▲ 20.7% | 1.5B▲ 18.5% | -144.32M▼ 109.6% | 745.36M▲ 0% |
Gross Margin % | 100% | 100% | -4.82% | 100% | 100% | 100% | -9.89% | 50.63% |
Gross Profit Growth % | - | 237.54% | -106.25% | 3518.34% | 20.67% | 18.48% | -109.62% | - |
Operating Expenses | 185.02M | 519.65M | 157.24M | 2.61B | 1.43B | 1.82B | 125.98M | 969.33M |
OpEx % of Revenue | 127.18% | 105.82% | 24.67% | 248.73% | 113.26% | 121.37% | 8.63% | - |
Selling, General & Admin | 37.23M | 54.89M | 157.24M | 162.38M | 125.59M | 113.93M | 107.23M | 107.82M |
SG&A % of Revenue | 25.59% | 11.18% | 24.67% | 15.47% | 9.92% | 7.59% | 7.35% | - |
Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
R&D % of Revenue | - | - | - | - | - | - | - | - |
Other Operating Expenses | 147.79M | 464.76M | 0 | 2.45B | 1.31B | 1.71B | 18.75M | 0 |
Operating Income | -39.54M▲ 0% | -28.59M▲ 27.7% | -187.95M▼ 557.4% | -1.56B▼ 730.5% | -167.93M▲ 89.2% | -320.66M▼ 90.9% | -270.3M▲ 15.7% | -223.98M▲ 0% |
Operating Margin % | -27.18% | -5.82% | -29.49% | -148.73% | -13.26% | -21.37% | -18.53% | -15.21% |
Operating Income Growth % | - | 27.69% | -557.43% | -730.51% | 89.24% | -90.95% | 15.7% | - |
EBITDA | -39.14M | -27.79M | -179.22M | -1.47B | -81.25M | -234.6M | -186.14M | -139.79M |
EBITDA Margin % | -26.9% | -5.66% | -28.12% | -140.42% | -6.42% | -15.64% | -12.76% | -9.5% |
EBITDA Growth % | - | 28.99% | -544.85% | -722.24% | 94.49% | -188.72% | 20.66% | 39.05% |
D&A (Non-Cash Add-back) | 399.18K | 795.17K | 8.72M | 87.29M | 86.67M | 86.06M | 84.16M | 84.19M |
EBIT | -39.44M | -28.88M | -193.34M | -1.55B | -167.75M | -283.82M | -270.3M | -223.34M |
Net Interest Income | -2.53M | -2.53M | -10.68M | -11.4M | -15.98M | -22.17M | -55.03M | -63.07M |
Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Interest Expense | 2.53M | 2.53M | 10.68M | 11.4M | 15.98M | 22.17M | 55.03M | 63.07M |
Other Income/Expense | -2.44M | -2.82M | -16.39M | 1.22M | -15.8M | 6.61M | -50.76M | -61.87M |
Pretax Income | -41.97M▲ 0% | -31.41M▲ 25.2% | -204.34M▼ 550.5% | -1.56B▼ 663.3% | -183.73M▲ 88.2% | -305.99M▼ 66.5% | -321.06M▼ 4.9% | -285.85M▲ 0% |
Pretax Margin % | -28.85% | -6.4% | -32.06% | -148.62% | -14.51% | -20.39% | -22% | -19.42% |
Income Tax | 0 | 0 | 0 | 1.86M | 2.69M | 4.39M | 2.02M | -10.04M |
Effective Tax Rate % | 0% | 0% | 0% | -0.12% | -1.47% | -1.43% | -0.63% | 3.51% |
Net Income | -41.97M▲ 0% | -31.41M▲ 25.2% | -156.48M▼ 398.2% | -270.13M▼ 72.6% | -57.77M▲ 78.6% | -135.85M▼ 135.1% | -147.95M▼ 8.9% | -126.25M▲ 0% |
Net Margin % | -28.85% | -6.4% | -24.55% | -25.74% | -4.56% | -9.05% | -10.14% | -8.58% |
Net Income Growth % | - | 25.16% | -398.16% | -72.63% | 78.61% | -135.14% | -8.91% | 8.27% |
Net Income (Continuing) | -41.97M | -31.41M | -204.34M | -1.56B | -186.43M | -310.38M | -323.09M | -275.8M |
Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Minority Interest | -13.88M | 0 | 1.79B | 516.8M | 291.53M | 73.59M | 15M | 10.38M |
EPS (Diluted) | -44.10▲ 0% | -39.73▲ 9.9% | -188.17▼ 373.6% | -324.84▼ 72.6% | -30.44▲ 90.6% | -54.06▼ 77.6% | -45.26▲ 16.3% | -15.00▲ 0% |
EPS Growth % | - | 9.91% | -373.62% | -72.63% | 90.63% | -77.6% | 16.28% | 23.06% |
EPS (Basic) | -44.10 | -39.73 | -188.17 | -324.84 | -30.44 | -46.79 | -45.26 | - |
Diluted Shares Outstanding | 475.88K | 790.63K | 831.58K | 831.58K | 1.9M | 2.94M | 3.27M | 8.42M |
Basic Shares Outstanding | 475.88K | 790.63K | 831.58K | 831.58K | 1.9M | 2.9M | 3.27M | 3.29M |
Dividend Payout Ratio | - | - | - | - | - | - | - | - |
PIII Balance Sheet
P3 Health Partners Inc. (PIII) balance sheet — assets, liabilities & shareholders' equity
| Metric | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|
Total Current Assets | 52.35M | 90.88M | 199.86M | 100.69M | 166.02M | 184.14M | 133.08M | 172.21M |
Cash & Short-Term Investments | 32.59M | 36.26M | 140.48M | 18.46M | 36.32M | 38.82M | 25.01M | 25.5M |
Cash Only | 32.59M | 36.26M | 140.48M | 18.46M | 36.32M | 38.82M | 25.01M | 25.5M |
Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Accounts Receivable | 17.97M | 45.64M | 51.34M | 79.59M | 121.47M | 125.21M | 92.46M | 124.89M |
Days Sales Outstanding | 45.08 | 33.92 | 29.4 | 27.68 | 35.01 | 30.46 | 23.13 | 24.82 |
Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Days Inventory Outstanding | - | - | - | - | - | - | - | - |
Other Current Assets | 763.15K | 3.79M | 1.08M | 2.64M | 4.61M | 20.11M | 15.61M | 21.82M |
Total Non-Current Assets | 13.25M | 15.55M | 2.16B | 776.05M | 694.95M | 599.28M | 523.56M | 501.95M |
Property, Plant & Equipment | 8.81M | 10.88M | 15.05M | 20.54M | 23.99M | 5.73M | 3.37M | 2.96M |
Fixed Asset Turnover | 16.50x | 45.14x | 42.36x | 51.10x | 52.80x | 261.68x | 432.45x | 394.52x |
Goodwill | 741.13K | 871.13K | 1.31B | 0 | 0 | 0 | 0 | 0 |
Intangible Assets | 0 | 0 | 835.84M | 751.05M | 666.73M | 574.35M | 492.42M | 472.99M |
Long-Term Investments | 0 | 0 | 0 | 3.5M | 0 | 0 | 0 | 0 |
Other Non-Current Assets | 3.7M | 3.8M | 3.61M | 790K | 4.23M | 19.2M | 27.76M | 25.99M |
Total Assets | 65.61M▲ 0% | 106.44M▲ 62.2% | 2.36B▲ 2121.2% | 876.74M▼ 62.9% | 860.97M▼ 1.8% | 783.42M▼ 9.0% | 656.64M▼ 16.2% | 674.16M▲ 0% |
Asset Turnover | 2.22x | 4.61x | 0.27x | 1.20x | 1.47x | 1.92x | 2.22x | 2.14x |
Asset Growth % | - | 62.24% | 2121.17% | -62.91% | -1.8% | -9.01% | -16.18% | -66.2% |
Total Current Liabilities | 54.57M | 90.62M | 198.77M | 241.66M | 299.37M | 496.42M | 545.26M | 525.49M |
Accounts Payable | 2.07M | 9.62M | 5.47M | 176.36M | 8.66M | 64.01M | 369.33M | 11.67M |
Days Payables Outstanding | - | - | 2.99 | - | - | - | 84.08 | 56.14 |
Short-Term Debt | 1.63M | 89.99K | 3.63M | 1.6M | 0 | 65M | 47.44M | 51.44M |
Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Other Current Liabilities | 45.34M | 70.68M | 162.34M | 55.48M | 239.37M | 67.72M | 128.49M | 462.38M |
Current Ratio | 0.96x | 1.00x | 1.01x | 0.42x | 0.55x | 0.37x | 0.24x | 0.33x |
Quick Ratio | 0.96x | 1.00x | 1.01x | 0.42x | 0.55x | 0.37x | 0.24x | 0.33x |
Cash Conversion Cycle | - | - | - | - | - | - | - | -31.32 |
Total Non-Current Liabilities | 66.96M | 146.04M | 101.17M | 112.42M | 127.93M | 137.48M | 251.62M | 281.84M |
Long-Term Debt | 15M | 45.39M | 80M | 94.42M | 108.32M | 89.82M | 228.37M | 10.83M |
Capital Lease Obligations | 4.41M | 3.63M | 6.3M | 11.52M | 13.62M | 11.34M | 11.47M | 10.31M |
Deferred Tax Liabilities | 0 | 0 | 0 | 169K | 0 | 0 | 0 | 0 |
Other Non-Current Liabilities | 47.56M | 97.01M | 14.87M | 6.31M | 5.99M | 36.31M | 11.77M | 271.01M |
Total Liabilities | 121.54M | 236.65M | 299.94M | 354.08M | 427.31M | 633.89M | 796.88M | 807.32M |
Total Debt | 22.66M | 51.29M | 92.02M | 107.54M | 124.64M | 166.16M | 287.29M | 62.27M |
Net Debt | -9.94M | 15.03M | -48.46M | 89.08M | 88.32M | 127.35M | 262.27M | 36.77M |
Debt / Equity | - | - | 0.04x | 0.21x | 0.29x | 1.11x | - | -0.47x |
Debt / EBITDA | - | - | - | - | - | - | - | -0.45x |
Net Debt / EBITDA | - | - | - | - | - | - | - | -0.26x |
Interest Coverage | -15.56x | -11.40x | -18.11x | -135.77x | -10.49x | -12.80x | -4.91x | -3.54x |
Total Equity | -55.93M▲ 0% | -130.22M▼ 132.8% | 2.06B▲ 1685.2% | 522.66M▼ 74.7% | 433.66M▼ 17.0% | 149.53M▼ 65.5% | -140.24M▼ 193.8% | -133.17M▲ 0% |
Equity Growth % | - | -132.81% | 1685.17% | -74.68% | -17.03% | -65.52% | -193.78% | -572.7% |
Book Value per Share | -117.53 | -164.70 | 2482.23 | 628.51 | 228.48 | 50.86 | -42.90 | -15.82 |
Total Shareholders' Equity | -42.05M | -130.22M | 273.55M | 5.85M | 142.13M | 75.94M | -155.23M | -143.55M |
Common Stock | 41.76M | 0 | 24K | 24K | 32K | 36K | 0 | 0 |
Retained Earnings | -85.17M | -130.67M | -39.42M | -309.55M | -367.34M | -503.19M | -651.14M | -649.92M |
Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Accumulated OCI | 921.09K | 447.47K | 0 | 0 | 0 | 0 | 0 | 0 |
Minority Interest | -13.88M | 0 | 1.79B | 516.8M | 291.53M | 73.59M | 15M | 10.38M |
PIII Cash Flow Statement
P3 Health Partners Inc. (PIII) cash flow — operating, investing & free cash flow history
| Metric | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|
Cash from Operations | -28.29M | -24.6M | -66.47M | -126.02M | -76.03M | -110.13M | -91.24M | -85.24M |
Operating CF Margin % | -19.44% | -5.01% | -10.43% | -12.01% | -6% | -7.34% | -6.25% | - |
Operating CF Growth % | - | 13.05% | -170.25% | -89.58% | 39.67% | -44.85% | 17.15% | 42.44% |
Net Income | -41.97M | -31.41M | -156.48M | -270.13M | -186.43M | -310.38M | -319.04M | -126.25M |
Depreciation & Amortization | 399.18K | 795.17K | 8.72M | 87.29M | 86.67M | 86.06M | 84.16M | 84.19M |
Stock-Based Compensation | 474.04K | 447.48K | 0 | 0 | 5.98M | 5.75M | 5.58M | 3.61M |
Deferred Taxes | 6.36M | 0 | 0 | 0 | 0 | -1.09M | 2.87M | 3.35M |
Other Non-Cash Items | -1.62M | -21.02M | 5.51M | 22M | -12.55M | 21.55M | 53.28M | 61.17M |
Working Capital Changes | 8.07M | 26.59M | 75.78M | 34.82M | 30.3M | 87.98M | 81.91M | 22.36M |
Change in Receivables | 424.14K | -27.37M | 448.15K | -27.18M | -41.99M | -3.76M | 26.38M | -28K |
Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Change in Payables | 803.5K | 8.1M | 68.76M | 46.39M | 15.99M | -8.1M | 58.07M | 46.17M |
Cash from Investing | -3.86M | -3.17M | -56.07M | -7.73M | -1.83M | 14.53M | 129K | 86K |
Capital Expenditures | -1.45M | -2.93M | -3.41M | -2.23M | -1.83M | 0 | 79K | 79K |
CapEx % of Revenue | 1% | 0.6% | 0.54% | 0.21% | 0.14% | - | 0.01% | 0.01% |
Acquisitions | 0 | -130K | -52.87M | -5.5M | 0 | 0 | 0 | 0 |
Investments | - | - | - | - | - | - | - | - |
Other Investing | -2.4M | -109.53K | 213.95K | 0 | 0 | 14.53M | 50K | 7K |
Cash from Financing | 63.62M | 34.76M | 223.47M | 11.38M | 100.33M | 98.77M | 72.81M | 69.96M |
Debt Issued (Net) | 1.58M | 34.94M | 28.16M | 11.38M | 14.1M | 58.95M | 72.81M | 71.14M |
Equity Issued (Net) | 62.04M | -180K | 195.31M | 0 | 86.59M | 0 | 0 | 0 |
Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Share Repurchases | 0 | -180K | 0 | 0 | 0 | 0 | 0 | 0 |
Other Financing | 0 | 0 | 0 | 0 | -364K | 39.82M | 0 | -1.18M |
Net Change in Cash | 31.48M▲ 0% | 7M▼ 77.8% | 100.93M▲ 1342.3% | -122.38M▼ 221.2% | 22.48M▲ 118.4% | 3.17M▼ 85.9% | -18.3M▼ 677.5% | -15.19M▲ 0% |
Free Cash Flow | -29.74M▲ 0% | -27.52M▲ 7.5% | -69.88M▼ 153.9% | -128.25M▼ 83.5% | -77.86M▲ 39.3% | -110.13M▼ 41.5% | -91.16M▲ 17.2% | -85.16M▲ 0% |
FCF Margin % | -20.44% | -5.6% | -10.96% | -12.22% | -6.15% | -7.34% | -6.25% | -5.78% |
FCF Growth % | - | 7.45% | -153.91% | -83.53% | 39.3% | -41.45% | 17.22% | 31.08% |
FCF per Share | -62.49 | -34.81 | -84.04 | -154.23 | -41.02 | -37.46 | -27.89 | -10.12 |
FCF Conversion (FCF/Net Income) | 0.67x | 0.78x | 0.42x | 0.47x | 1.32x | 0.81x | 0.62x | 0.67x |
Interest Paid | 0 | 685.42K | 0 | 0 | 5.81M | 14.19M | 0 | 0 |
Taxes Paid | 0 | 0 | 0 | 0 | 567K | 5.48M | 0 | 0 |
PIII Key Ratios
P3 Health Partners Inc. (PIII) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|
Return on Equity (ROE) | - | -16.18% | -20.88% | -12.08% | -46.59% | -3183.73% | 301.85% |
Return on Invested Capital (ROIC) | - | -14.83% | -89.11% | -22.22% | -60.21% | -101.64% | -987.24% |
Gross Margin | 100% | -4.82% | 100% | 100% | 100% | -9.89% | 50.63% |
Net Margin | -6.4% | -24.55% | -25.74% | -4.56% | -9.05% | -10.14% | -8.58% |
Debt / Equity | - | 0.04x | 0.21x | 0.29x | 1.11x | - | -0.47x |
Interest Coverage | -11.40x | -18.11x | -135.77x | -10.49x | -12.80x | -4.91x | -3.54x |
FCF Conversion | 0.78x | 0.42x | 0.47x | 1.32x | 0.81x | 0.62x | 0.67x |
Revenue Growth | 237.54% | 29.79% | 64.66% | 20.67% | 18.48% | -2.76% | -0.87% |
Related:PIII Dividend History·PIII Revenue History·PIII Price History·PIII P/E History·PIII Financial Ratios·PIII Institutional Holders
PIII SEC Filings & Documents
P3 Health Partners Inc. (PIII) SEC filings — annual & quarterly reports (10-K, 10-Q)
PIII Frequently Asked Questions
P3 Health Partners Inc. (PIII) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
P3 Health Partners Inc. (PIII) reported $1.47B in revenue for fiscal year 2025. This represents a 912% increase from $145.5M in 2019.
P3 Health Partners Inc. (PIII) saw revenue decline by 2.8% over the past year.
P3 Health Partners Inc. (PIII) reported a net loss of $126.2M for fiscal year 2025.
Dividend & Returns
P3 Health Partners Inc. (PIII) has a return on equity (ROE) of -3183.7%. Negative ROE indicates the company is unprofitable.
P3 Health Partners Inc. (PIII) had negative free cash flow of $85.2M in fiscal year 2025, likely due to heavy capital investments.