vs
Side-by-side financial comparison of Axos Financial, Inc. (AX) and P3 Health Partners Inc. (PIII). Click either name above to swap in a different company.
Axos Financial, Inc. is the larger business by last-quarter revenue ($392.2M vs $384.8M, roughly 1.0× P3 Health Partners Inc.). Axos Financial, Inc. runs the higher net margin — 31.8% vs -19.6%, a 51.4% gap on every dollar of revenue. Over the past eight quarters, Axos Financial, Inc.'s revenue compounded faster (16.1% CAGR vs -0.5%).
Axos Financial is an American bank holding company based in Las Vegas, Nevada and is the parent of Axos Bank, a direct bank. It also offers registered investment adviser services and an electronic trading platform.
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.
AX vs PIII — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $392.2M | $384.8M |
| Net Profit | $124.7M | $-75.5M |
| Gross Margin | — | — |
| Operating Margin | — | -40.0% |
| Net Margin | 31.8% | -19.6% |
| Revenue YoY | — | 3.8% |
| Net Profit YoY | 18.5% | -28.8% |
| EPS (diluted) | $2.15 | $-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 | $392.2M | — | ||
| Q4 25 | $385.1M | $384.8M | ||
| Q3 25 | $323.4M | $345.3M | ||
| Q2 25 | $321.4M | $355.8M | ||
| Q1 25 | $308.8M | $373.2M | ||
| Q4 24 | $307.9M | $370.7M | ||
| Q3 24 | $320.7M | $362.1M | ||
| Q2 24 | $290.9M | $379.2M |
| Q1 26 | $124.7M | — | ||
| Q4 25 | $128.4M | $-75.5M | ||
| Q3 25 | $112.4M | $-31.6M | ||
| Q2 25 | $110.7M | $-20.4M | ||
| Q1 25 | $105.2M | $-20.5M | ||
| Q4 24 | $104.7M | $-58.6M | ||
| Q3 24 | $112.3M | $-46.5M | ||
| Q2 24 | $104.9M | $-12.0M |
| Q1 26 | — | — | ||
| Q4 25 | 45.6% | -40.0% | ||
| Q3 25 | 46.3% | -12.8% | ||
| Q2 25 | 48.5% | -9.6% | ||
| Q1 25 | 47.9% | -10.2% | ||
| Q4 24 | 48.8% | -37.4% | ||
| Q3 24 | 49.6% | -29.5% | ||
| Q2 24 | 49.6% | -8.3% |
| Q1 26 | 31.8% | — | ||
| Q4 25 | 33.3% | -19.6% | ||
| Q3 25 | 34.7% | -9.1% | ||
| Q2 25 | 34.4% | -5.7% | ||
| Q1 25 | 34.1% | -5.5% | ||
| Q4 24 | 34.0% | -15.8% | ||
| Q3 24 | 35.0% | -12.8% | ||
| Q2 24 | 36.0% | -3.2% |
| Q1 26 | $2.15 | — | ||
| Q4 25 | $2.22 | $-23.08 | ||
| Q3 25 | $1.94 | $-9.67 | ||
| Q2 25 | $1.89 | $-6.23 | ||
| Q1 25 | $1.81 | $-6.28 | ||
| Q4 24 | $1.80 | $-23.13 | ||
| Q3 24 | $1.93 | $-15.70 | ||
| Q2 24 | $1.75 | $-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 | — | $25.0M |
| Total DebtLower is stronger | — | $228.4M |
| Stockholders' EquityBook value | $3.1B | $-155.2M |
| Total Assets | $29.2B | $656.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $1.0B | $25.0M | ||
| Q3 25 | $2.6B | $37.7M | ||
| Q2 25 | $1.9B | $38.6M | ||
| Q1 25 | $2.0B | $40.1M | ||
| Q4 24 | $2.4B | $38.8M | ||
| Q3 24 | $2.6B | $63.0M | ||
| Q2 24 | $2.0B | $73.1M |
| Q1 26 | — | — | ||
| Q4 25 | — | $228.4M | ||
| Q3 25 | — | $252.8M | ||
| Q2 25 | $312.7M | $182.0M | ||
| Q1 25 | $377.4M | $171.1M | ||
| Q4 24 | $358.7M | $108.9M | ||
| Q3 24 | $313.5M | $133.2M | ||
| Q2 24 | $325.7M | $133.1M |
| Q1 26 | $3.1B | — | ||
| Q4 25 | $2.9B | $-155.2M | ||
| Q3 25 | $2.8B | $-18.7M | ||
| Q2 25 | $2.7B | $44.5M | ||
| Q1 25 | $2.6B | $63.3M | ||
| Q4 24 | $2.5B | $75.9M | ||
| Q3 24 | $2.4B | $120.5M | ||
| Q2 24 | $2.3B | $166.8M |
| Q1 26 | $29.2B | — | ||
| Q4 25 | $28.2B | $656.6M | ||
| Q3 25 | $27.4B | $683.6M | ||
| Q2 25 | $24.8B | $731.6M | ||
| Q1 25 | $24.0B | $783.9M | ||
| Q4 24 | $23.7B | $783.4M | ||
| Q3 24 | $23.6B | $833.3M | ||
| Q2 24 | $22.9B | $892.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.12× | 4.09× | ||
| Q1 25 | 0.14× | 2.71× | ||
| Q4 24 | 0.14× | 1.43× | ||
| Q3 24 | 0.13× | 1.11× | ||
| Q2 24 | 0.14× | 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 | $104.1M | $-25.7M | ||
| Q3 25 | $118.4M | $-15.4M | ||
| Q2 25 | $490.3M | $-16.6M | ||
| Q1 25 | $73.7M | $-33.5M | ||
| Q4 24 | $162.5M | $-57.2M | ||
| Q3 24 | $70.8M | $-22.6M | ||
| Q2 24 | $305.5M | $-10.2M |
| Q1 26 | — | — | ||
| Q4 25 | $85.4M | — | ||
| Q3 25 | $109.3M | — | ||
| Q2 25 | $436.1M | — | ||
| Q1 25 | $65.1M | — | ||
| Q4 24 | $156.4M | — | ||
| Q3 24 | $53.0M | — | ||
| Q2 24 | $269.5M | — |
| Q1 26 | — | — | ||
| Q4 25 | 22.2% | — | ||
| Q3 25 | 33.8% | — | ||
| Q2 25 | 135.7% | — | ||
| Q1 25 | 21.1% | — | ||
| Q4 24 | 50.8% | — | ||
| Q3 24 | 16.5% | — | ||
| Q2 24 | 92.6% | — |
| Q1 26 | — | — | ||
| Q4 25 | 4.9% | — | ||
| Q3 25 | 2.8% | — | ||
| Q2 25 | 16.9% | — | ||
| Q1 25 | 2.8% | — | ||
| Q4 24 | 2.0% | 0.0% | ||
| Q3 24 | 5.5% | 0.0% | ||
| Q2 24 | 12.4% | 0.0% |
| Q1 26 | — | — | ||
| Q4 25 | 0.81× | — | ||
| Q3 25 | 1.05× | — | ||
| Q2 25 | 4.43× | — | ||
| Q1 25 | 0.70× | — | ||
| Q4 24 | 1.55× | — | ||
| Q3 24 | 0.63× | — | ||
| Q2 24 | 2.91× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AX
| Net Interest Income | $306.3M | 78% |
| Noninterest Income | $86.0M | 22% |
PIII
| Capitated Revenue | $366.2M | 95% |
| Health Care Patient Service | $18.6M | 5% |
| Health Care Care Coordination Management Fees | $2.7M | 1% |
