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Side-by-side financial comparison of ASTRONICS CORP (ATRO) and P3 Health Partners Inc. (PIII). Click either name above to swap in a different company.
P3 Health Partners Inc. is the larger business by last-quarter revenue ($384.8M vs $240.1M, roughly 1.6× ASTRONICS CORP). On growth, ASTRONICS CORP posted the faster year-over-year revenue change (15.1% vs 3.8%). Over the past eight quarters, ASTRONICS CORP's revenue compounded faster (13.9% CAGR vs -0.5%).
Astronics Corporation is an American aerospace electronics corporation founded in 1968, headquartered in East Aurora, New York. It is traded on NASDAQ as Nasdaq: ATRO. It is known for lighting and electronics integrations on military, commercial, and business aircraft and semiconductor test systems.
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.
ATRO vs PIII — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $240.1M | $384.8M |
| Net Profit | — | $-75.5M |
| Gross Margin | 33.3% | — |
| Operating Margin | 14.8% | -40.0% |
| Net Margin | — | -19.6% |
| Revenue YoY | 15.1% | 3.8% |
| Net Profit YoY | — | -28.8% |
| EPS (diluted) | $0.82 | $-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.
| Q4 25 | $240.1M | $384.8M | ||
| Q3 25 | $211.4M | $345.3M | ||
| Q2 25 | $204.7M | $355.8M | ||
| Q1 25 | $205.9M | $373.2M | ||
| Q4 24 | $208.5M | $370.7M | ||
| Q3 24 | $203.7M | $362.1M | ||
| Q2 24 | $198.1M | $379.2M | ||
| Q1 24 | $185.1M | $388.5M |
| Q4 25 | — | $-75.5M | ||
| Q3 25 | $-11.1M | $-31.6M | ||
| Q2 25 | $1.3M | $-20.4M | ||
| Q1 25 | $9.5M | $-20.5M | ||
| Q4 24 | — | $-58.6M | ||
| Q3 24 | $-11.7M | $-46.5M | ||
| Q2 24 | $1.5M | $-12.0M | ||
| Q1 24 | $-3.2M | $-18.7M |
| Q4 25 | 33.3% | — | ||
| Q3 25 | 30.5% | — | ||
| Q2 25 | 25.8% | — | ||
| Q1 25 | 29.5% | — | ||
| Q4 24 | 29.8% | — | ||
| Q3 24 | 27.1% | — | ||
| Q2 24 | 28.0% | — | ||
| Q1 24 | 25.7% | — |
| Q4 25 | 14.8% | -40.0% | ||
| Q3 25 | 10.9% | -12.8% | ||
| Q2 25 | 2.3% | -9.6% | ||
| Q1 25 | 6.4% | -10.2% | ||
| Q4 24 | 4.3% | -37.4% | ||
| Q3 24 | 4.1% | -29.5% | ||
| Q2 24 | 3.8% | -8.3% | ||
| Q1 24 | 0.9% | -11.3% |
| Q4 25 | — | -19.6% | ||
| Q3 25 | -5.2% | -9.1% | ||
| Q2 25 | 0.6% | -5.7% | ||
| Q1 25 | 4.6% | -5.5% | ||
| Q4 24 | — | -15.8% | ||
| Q3 24 | -5.8% | -12.8% | ||
| Q2 24 | 0.8% | -3.2% | ||
| Q1 24 | -1.7% | -4.8% |
| Q4 25 | $0.82 | $-23.08 | ||
| Q3 25 | $-0.31 | $-9.67 | ||
| Q2 25 | $0.04 | $-6.23 | ||
| Q1 25 | $0.26 | $-6.28 | ||
| Q4 24 | $-0.07 | $-23.13 | ||
| Q3 24 | $-0.34 | $-15.70 | ||
| Q2 24 | $0.04 | $-7.37 | ||
| Q1 24 | $-0.09 | $-7.86 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $18.2M | $25.0M |
| Total DebtLower is stronger | — | $228.4M |
| Stockholders' EquityBook value | $140.1M | $-155.2M |
| Total Assets | $706.7M | $656.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $18.2M | $25.0M | ||
| Q3 25 | $13.5M | $37.7M | ||
| Q2 25 | $13.5M | $38.6M | ||
| Q1 25 | $24.8M | $40.1M | ||
| Q4 24 | $9.3M | $38.8M | ||
| Q3 24 | $5.2M | $63.0M | ||
| Q2 24 | $2.9M | $73.1M | ||
| Q1 24 | $5.3M | $27.3M |
| Q4 25 | — | $228.4M | ||
| Q3 25 | — | $252.8M | ||
| Q2 25 | — | $182.0M | ||
| Q1 25 | — | $171.1M | ||
| Q4 24 | — | $108.9M | ||
| Q3 24 | — | $133.2M | ||
| Q2 24 | — | $133.1M | ||
| Q1 24 | — | $118.1M |
| Q4 25 | $140.1M | $-155.2M | ||
| Q3 25 | $108.9M | $-18.7M | ||
| Q2 25 | $271.6M | $44.5M | ||
| Q1 25 | $266.8M | $63.3M | ||
| Q4 24 | $256.1M | $75.9M | ||
| Q3 24 | $249.2M | $120.5M | ||
| Q2 24 | $257.9M | $166.8M | ||
| Q1 24 | $251.7M | $146.6M |
| Q4 25 | $706.7M | $656.6M | ||
| Q3 25 | $682.2M | $683.6M | ||
| Q2 25 | $646.7M | $731.6M | ||
| Q1 25 | $662.2M | $783.9M | ||
| Q4 24 | $648.8M | $783.4M | ||
| Q3 24 | $651.6M | $833.3M | ||
| Q2 24 | $644.9M | $892.8M | ||
| Q1 24 | $630.0M | $855.9M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 4.09× | ||
| Q1 25 | — | 2.71× | ||
| Q4 24 | — | 1.43× | ||
| Q3 24 | — | 1.11× | ||
| Q2 24 | — | 0.80× | ||
| Q1 24 | — | 0.81× |
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 | $27.6M | $-25.7M |
| Free Cash FlowOCF − Capex | $15.8M | — |
| FCF MarginFCF / Revenue | 6.6% | — |
| Capex IntensityCapex / Revenue | 4.9% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $43.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $27.6M | $-25.7M | ||
| Q3 25 | $34.2M | $-15.4M | ||
| Q2 25 | $-7.6M | $-16.6M | ||
| Q1 25 | $20.6M | $-33.5M | ||
| Q4 24 | $26.4M | $-57.2M | ||
| Q3 24 | $8.4M | $-22.6M | ||
| Q2 24 | $-6.3M | $-10.2M | ||
| Q1 24 | $2.0M | $-20.0M |
| Q4 25 | $15.8M | — | ||
| Q3 25 | $21.0M | — | ||
| Q2 25 | $-12.2M | — | ||
| Q1 25 | $18.5M | — | ||
| Q4 24 | $23.2M | — | ||
| Q3 24 | $6.5M | — | ||
| Q2 24 | $-8.1M | — | ||
| Q1 24 | $439.0K | — |
| Q4 25 | 6.6% | — | ||
| Q3 25 | 9.9% | — | ||
| Q2 25 | -6.0% | — | ||
| Q1 25 | 9.0% | — | ||
| Q4 24 | 11.1% | — | ||
| Q3 24 | 3.2% | — | ||
| Q2 24 | -4.1% | — | ||
| Q1 24 | 0.2% | — |
| Q4 25 | 4.9% | — | ||
| Q3 25 | 6.2% | — | ||
| Q2 25 | 2.2% | — | ||
| Q1 25 | 1.0% | — | ||
| Q4 24 | 1.5% | 0.0% | ||
| Q3 24 | 0.9% | 0.0% | ||
| Q2 24 | 0.9% | 0.0% | ||
| Q1 24 | 0.9% | 0.0% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -5.81× | — | ||
| Q1 25 | 2.17× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -4.08× | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ATRO
| Product Line Electrical Power And Motion | $113.8M | 47% |
| Product Line Avionics | $32.0M | 13% |
| Military Aircraft | $28.0M | 12% |
| General Aviation | $22.3M | 9% |
| Government And Defense | $20.5M | 9% |
| Product Line Systems Certification | $13.2M | 6% |
| Product Line Structures | $3.7M | 2% |
| Product Line Other | $2.3M | 1% |
PIII
| Capitated Revenue | $366.2M | 95% |
| Health Care Patient Service | $18.6M | 5% |
| Health Care Care Coordination Management Fees | $2.7M | 1% |
