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Side-by-side financial comparison of BALCHEM CORP (BCPC) 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 $263.6M, roughly 1.5× BALCHEM CORP). BALCHEM CORP runs the higher net margin — 14.9% vs -19.6%, a 34.5% gap on every dollar of revenue. On growth, BALCHEM CORP posted the faster year-over-year revenue change (9.8% vs 3.8%). Over the past eight quarters, BALCHEM CORP's revenue compounded faster (4.9% CAGR vs -0.5%).
Balchem Corp is a global specialty chemicals and nutritional ingredients provider that develops, manufactures and distributes application-specific products for human nutrition, animal health, pharmaceutical and industrial end markets, serving customers across North America, Europe and Asia Pacific.
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.
BCPC vs PIII — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $263.6M | $384.8M |
| Net Profit | $39.2M | $-75.5M |
| Gross Margin | 35.6% | — |
| Operating Margin | 19.8% | -40.0% |
| Net Margin | 14.9% | -19.6% |
| Revenue YoY | 9.8% | 3.8% |
| Net Profit YoY | 16.8% | -28.8% |
| EPS (diluted) | $1.21 | $-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 | $263.6M | $384.8M | ||
| Q3 25 | $267.6M | $345.3M | ||
| Q2 25 | $255.5M | $355.8M | ||
| Q1 25 | $250.5M | $373.2M | ||
| Q4 24 | $240.0M | $370.7M | ||
| Q3 24 | $239.9M | $362.1M | ||
| Q2 24 | $234.1M | $379.2M | ||
| Q1 24 | $239.7M | $388.5M |
| Q4 25 | $39.2M | $-75.5M | ||
| Q3 25 | $40.3M | $-31.6M | ||
| Q2 25 | $38.3M | $-20.4M | ||
| Q1 25 | $37.1M | $-20.5M | ||
| Q4 24 | $33.6M | $-58.6M | ||
| Q3 24 | $33.8M | $-46.5M | ||
| Q2 24 | $32.1M | $-12.0M | ||
| Q1 24 | $29.0M | $-18.7M |
| Q4 25 | 35.6% | — | ||
| Q3 25 | 35.7% | — | ||
| Q2 25 | 36.4% | — | ||
| Q1 25 | 35.2% | — | ||
| Q4 24 | 36.0% | — | ||
| Q3 24 | 35.6% | — | ||
| Q2 24 | 35.5% | — | ||
| Q1 24 | 34.0% | — |
| Q4 25 | 19.8% | -40.0% | ||
| Q3 25 | 20.4% | -12.8% | ||
| Q2 25 | 20.1% | -9.6% | ||
| Q1 25 | 20.4% | -10.2% | ||
| Q4 24 | 19.8% | -37.4% | ||
| Q3 24 | 20.0% | -29.5% | ||
| Q2 24 | 19.6% | -8.3% | ||
| Q1 24 | 17.4% | -11.3% |
| Q4 25 | 14.9% | -19.6% | ||
| Q3 25 | 15.1% | -9.1% | ||
| Q2 25 | 15.0% | -5.7% | ||
| Q1 25 | 14.8% | -5.5% | ||
| Q4 24 | 14.0% | -15.8% | ||
| Q3 24 | 14.1% | -12.8% | ||
| Q2 24 | 13.7% | -3.2% | ||
| Q1 24 | 12.1% | -4.8% |
| Q4 25 | $1.21 | $-23.08 | ||
| Q3 25 | $1.24 | $-9.67 | ||
| Q2 25 | $1.17 | $-6.23 | ||
| Q1 25 | $1.13 | $-6.28 | ||
| Q4 24 | $1.03 | $-23.13 | ||
| Q3 24 | $1.03 | $-15.70 | ||
| Q2 24 | $0.98 | $-7.37 | ||
| Q1 24 | $0.89 | $-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 | $74.6M | $25.0M |
| Total DebtLower is stronger | — | $228.4M |
| Stockholders' EquityBook value | $1.3B | $-155.2M |
| Total Assets | $1.7B | $656.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $74.6M | $25.0M | ||
| Q3 25 | $65.1M | $37.7M | ||
| Q2 25 | $65.4M | $38.6M | ||
| Q1 25 | $49.9M | $40.1M | ||
| Q4 24 | $49.5M | $38.8M | ||
| Q3 24 | $73.7M | $63.0M | ||
| Q2 24 | $63.7M | $73.1M | ||
| Q1 24 | $60.3M | $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 | $1.3B | $-155.2M | ||
| Q3 25 | $1.3B | $-18.7M | ||
| Q2 25 | $1.3B | $44.5M | ||
| Q1 25 | $1.2B | $63.3M | ||
| Q4 24 | $1.1B | $75.9M | ||
| Q3 24 | $1.2B | $120.5M | ||
| Q2 24 | $1.1B | $166.8M | ||
| Q1 24 | $1.1B | $146.6M |
| Q4 25 | $1.7B | $656.6M | ||
| Q3 25 | $1.7B | $683.6M | ||
| Q2 25 | $1.7B | $731.6M | ||
| Q1 25 | $1.6B | $783.9M | ||
| Q4 24 | $1.6B | $783.4M | ||
| Q3 24 | $1.6B | $833.3M | ||
| Q2 24 | $1.6B | $892.8M | ||
| Q1 24 | $1.6B | $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 | $67.3M | $-25.7M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 1.72× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $67.3M | $-25.7M | ||
| Q3 25 | $65.6M | $-15.4M | ||
| Q2 25 | $47.3M | $-16.6M | ||
| Q1 25 | $36.5M | $-33.5M | ||
| Q4 24 | $52.3M | $-57.2M | ||
| Q3 24 | $51.3M | $-22.6M | ||
| Q2 24 | $45.0M | $-10.2M | ||
| Q1 24 | $33.4M | $-20.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.0% | ||
| Q3 24 | — | 0.0% | ||
| Q2 24 | — | 0.0% | ||
| Q1 24 | — | 0.0% |
| Q4 25 | 1.72× | — | ||
| Q3 25 | 1.63× | — | ||
| Q2 25 | 1.23× | — | ||
| Q1 25 | 0.98× | — | ||
| Q4 24 | 1.56× | — | ||
| Q3 24 | 1.52× | — | ||
| Q2 24 | 1.40× | — | ||
| Q1 24 | 1.15× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BCPC
| Human Nutrition And Health | $166.1M | 63% |
| Animal Nutrition And Health | $61.2M | 23% |
| Specialty Products | $34.8M | 13% |
PIII
| Capitated Revenue | $366.2M | 95% |
| Health Care Patient Service | $18.6M | 5% |
| Health Care Care Coordination Management Fees | $2.7M | 1% |
