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Side-by-side financial comparison of Allegiant Travel CO (ALGT) and P3 Health Partners Inc. (PIII). Click either name above to swap in a different company.
Allegiant Travel CO is the larger business by last-quarter revenue ($732.4M vs $384.8M, roughly 1.9× P3 Health Partners Inc.). Allegiant Travel CO runs the higher net margin — 5.8% vs -19.6%, a 25.4% gap on every dollar of revenue. On growth, Allegiant Travel CO posted the faster year-over-year revenue change (4.8% vs 3.8%). Over the past eight quarters, Allegiant Travel CO's revenue compounded faster (11.0% CAGR vs -0.5%).
Allegiant Air, styled as allegiant, is an American low-cost airline headquartered in Las Vegas, Nevada. The airline focuses on serving leisure traffic from small and medium-sized cities which it considers to be underserved, using an ultra low-cost business model with minimal inclusions in fares and a greater number of add-on fees.
P3 Health Partners Inc. is a population health management and value-based care services firm operating primarily in the United States. It partners with primary care providers and health systems to deliver coordinated, high-quality care for patient populations, especially Medicare Advantage beneficiaries, focusing on improving health outcomes and lowering unnecessary healthcare costs.
ALGT vs PIII — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $732.4M | $384.8M |
| Net Profit | $42.5M | $-75.5M |
| Gross Margin | — | — |
| Operating Margin | 11.1% | -40.0% |
| Net Margin | 5.8% | -19.6% |
| Revenue YoY | 4.8% | 3.8% |
| Net Profit YoY | 32.4% | -28.8% |
| EPS (diluted) | $2.30 | $-23.08 |
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.
| Q1 26 | $732.4M | — | ||
| Q4 25 | $595.5M | $384.8M | ||
| Q3 25 | $494.1M | $345.3M | ||
| Q2 25 | $617.9M | $355.8M | ||
| Q1 25 | $616.8M | $373.2M | ||
| Q4 24 | $553.6M | $370.7M | ||
| Q3 24 | $489.0M | $362.1M | ||
| Q2 24 | $594.5M | $379.2M |
| Q1 26 | $42.5M | — | ||
| Q4 25 | $31.9M | $-75.5M | ||
| Q3 25 | $-43.6M | $-31.6M | ||
| Q2 25 | $-65.2M | $-20.4M | ||
| Q1 25 | $32.1M | $-20.5M | ||
| Q4 24 | $-216.2M | $-58.6M | ||
| Q3 24 | $-36.8M | $-46.5M | ||
| Q2 24 | $13.7M | $-12.0M |
| Q1 26 | 11.1% | — | ||
| Q4 25 | 11.2% | -40.0% | ||
| Q3 25 | -5.5% | -12.8% | ||
| Q2 25 | -10.9% | -9.6% | ||
| Q1 25 | 10.5% | -10.2% | ||
| Q4 24 | -47.7% | -37.4% | ||
| Q3 24 | -5.4% | -29.5% | ||
| Q2 24 | 5.9% | -8.3% |
| Q1 26 | 5.8% | — | ||
| Q4 25 | 5.4% | -19.6% | ||
| Q3 25 | -8.8% | -9.1% | ||
| Q2 25 | -10.5% | -5.7% | ||
| Q1 25 | 5.2% | -5.5% | ||
| Q4 24 | -39.1% | -15.8% | ||
| Q3 24 | -7.5% | -12.8% | ||
| Q2 24 | 2.3% | -3.2% |
| Q1 26 | $2.30 | — | ||
| Q4 25 | $1.82 | $-23.08 | ||
| Q3 25 | $-2.41 | $-9.67 | ||
| Q2 25 | $-3.62 | $-6.23 | ||
| Q1 25 | $1.73 | $-6.28 | ||
| Q4 24 | $-12.12 | $-23.13 | ||
| Q3 24 | $-2.05 | $-15.70 | ||
| Q2 24 | $0.75 | $-7.37 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $902.1M | $25.0M |
| Total DebtLower is stronger | — | $228.4M |
| Stockholders' EquityBook value | — | $-155.2M |
| Total Assets | — | $656.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $902.1M | — | ||
| Q4 25 | $805.7M | $25.0M | ||
| Q3 25 | $956.7M | $37.7M | ||
| Q2 25 | $842.8M | $38.6M | ||
| Q1 25 | $878.6M | $40.1M | ||
| Q4 24 | $781.1M | $38.8M | ||
| Q3 24 | $759.3M | $63.0M | ||
| Q2 24 | $791.9M | $73.1M |
| Q1 26 | — | — | ||
| Q4 25 | $1.7B | $228.4M | ||
| Q3 25 | $1.8B | $252.8M | ||
| Q2 25 | $1.8B | $182.0M | ||
| Q1 25 | $1.7B | $171.1M | ||
| Q4 24 | $1.6B | $108.9M | ||
| Q3 24 | $1.8B | $133.2M | ||
| Q2 24 | $1.7B | $133.1M |
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $-155.2M | ||
| Q3 25 | $1.0B | $-18.7M | ||
| Q2 25 | $1.1B | $44.5M | ||
| Q1 25 | $1.1B | $63.3M | ||
| Q4 24 | $1.1B | $75.9M | ||
| Q3 24 | $1.3B | $120.5M | ||
| Q2 24 | $1.3B | $166.8M |
| Q1 26 | — | — | ||
| Q4 25 | $4.2B | $656.6M | ||
| Q3 25 | $4.4B | $683.6M | ||
| Q2 25 | $4.4B | $731.6M | ||
| Q1 25 | $4.5B | $783.9M | ||
| Q4 24 | $4.4B | $783.4M | ||
| Q3 24 | $4.8B | $833.3M | ||
| Q2 24 | $4.9B | $892.8M |
| Q1 26 | — | — | ||
| Q4 25 | 1.60× | — | ||
| Q3 25 | 1.76× | — | ||
| Q2 25 | 1.68× | 4.09× | ||
| Q1 25 | 1.57× | 2.71× | ||
| Q4 24 | 1.48× | 1.43× | ||
| Q3 24 | 1.36× | 1.11× | ||
| Q2 24 | 1.30× | 0.80× |
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 | — | $-25.7M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $112.2M | $-25.7M | ||
| Q3 25 | $-6.1M | $-15.4M | ||
| Q2 25 | $92.2M | $-16.6M | ||
| Q1 25 | $191.4M | $-33.5M | ||
| Q4 24 | $84.4M | $-57.2M | ||
| Q3 24 | $17.3M | $-22.6M | ||
| Q2 24 | $68.9M | $-10.2M |
| Q1 26 | — | — | ||
| Q4 25 | $90.4M | — | ||
| Q3 25 | $-121.7M | — | ||
| Q2 25 | $-10.5M | — | ||
| Q1 25 | $116.9M | — | ||
| Q4 24 | $24.0M | — | ||
| Q3 24 | $-28.7M | — | ||
| Q2 24 | $7.0M | — |
| Q1 26 | — | — | ||
| Q4 25 | 15.2% | — | ||
| Q3 25 | -24.6% | — | ||
| Q2 25 | -1.7% | — | ||
| Q1 25 | 19.0% | — | ||
| Q4 24 | 4.3% | — | ||
| Q3 24 | -5.9% | — | ||
| Q2 24 | 1.2% | — |
| Q1 26 | — | — | ||
| Q4 25 | 3.7% | — | ||
| Q3 25 | 23.4% | — | ||
| Q2 25 | 16.6% | — | ||
| Q1 25 | 12.1% | — | ||
| Q4 24 | 10.9% | 0.0% | ||
| Q3 24 | 9.4% | 0.0% | ||
| Q2 24 | 10.4% | 0.0% |
| Q1 26 | — | — | ||
| Q4 25 | 3.51× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 5.96× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 5.03× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ALGT
| Passenger | $671.8M | 92% |
| Third party products | $42.3M | 6% |
| Fixed fee contracts | $18.1M | 2% |
| Resort and other | $175.0K | 0% |
PIII
| Capitated Revenue | $366.2M | 95% |
| Health Care Patient Service | $18.6M | 5% |
| Health Care Care Coordination Management Fees | $2.7M | 1% |
