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Side-by-side financial comparison of B&G Foods, Inc. (BGS) and P3 Health Partners Inc. (PIII). Click either name above to swap in a different company.
B&G Foods, Inc. is the larger business by last-quarter revenue ($439.3M vs $384.8M, roughly 1.1× P3 Health Partners Inc.). B&G Foods, Inc. runs the higher net margin — -4.4% vs -19.6%, a 15.3% gap on every dollar of revenue. On growth, P3 Health Partners Inc. posted the faster year-over-year revenue change (3.8% vs -4.7%). Over the past eight quarters, P3 Health Partners Inc.'s revenue compounded faster (-0.5% CAGR vs -12.8%).
B&G Foods, Inc. is an American branded foods holding company based in Parsippany, New Jersey. The company was formed in 1996 to acquire Bloch & Guggenheimer, a Manhattan-based producer of pickles, relish and condiments which had been founded in 1889.
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.
BGS vs PIII — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $439.3M | $384.8M |
| Net Profit | $-19.1M | $-75.5M |
| Gross Margin | 22.5% | — |
| Operating Margin | 2.5% | -40.0% |
| Net Margin | -4.4% | -19.6% |
| Revenue YoY | -4.7% | 3.8% |
| Net Profit YoY | -356.5% | -28.8% |
| EPS (diluted) | $-0.24 | $-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 | — | $384.8M | ||
| Q3 25 | $439.3M | $345.3M | ||
| Q2 25 | $424.4M | $355.8M | ||
| Q1 25 | $425.4M | $373.2M | ||
| Q4 24 | $551.6M | $370.7M | ||
| Q3 24 | $461.1M | $362.1M | ||
| Q2 24 | $444.6M | $379.2M | ||
| Q1 24 | $475.2M | $388.5M |
| Q4 25 | — | $-75.5M | ||
| Q3 25 | $-19.1M | $-31.6M | ||
| Q2 25 | $-9.8M | $-20.4M | ||
| Q1 25 | $835.0K | $-20.5M | ||
| Q4 24 | $-222.4M | $-58.6M | ||
| Q3 24 | $7.5M | $-46.5M | ||
| Q2 24 | $3.9M | $-12.0M | ||
| Q1 24 | $-40.2M | $-18.7M |
| Q4 25 | — | — | ||
| Q3 25 | 22.5% | — | ||
| Q2 25 | 20.5% | — | ||
| Q1 25 | 21.2% | — | ||
| Q4 24 | 21.5% | — | ||
| Q3 24 | 22.2% | — | ||
| Q2 24 | 20.7% | — | ||
| Q1 24 | 22.9% | — |
| Q4 25 | — | -40.0% | ||
| Q3 25 | 2.5% | -12.8% | ||
| Q2 25 | 5.2% | -9.6% | ||
| Q1 25 | 8.4% | -10.2% | ||
| Q4 24 | -46.6% | -37.4% | ||
| Q3 24 | 11.1% | -29.5% | ||
| Q2 24 | 9.9% | -8.3% | ||
| Q1 24 | -3.3% | -11.3% |
| Q4 25 | — | -19.6% | ||
| Q3 25 | -4.4% | -9.1% | ||
| Q2 25 | -2.3% | -5.7% | ||
| Q1 25 | 0.2% | -5.5% | ||
| Q4 24 | -40.3% | -15.8% | ||
| Q3 24 | 1.6% | -12.8% | ||
| Q2 24 | 0.9% | -3.2% | ||
| Q1 24 | -8.5% | -4.8% |
| Q4 25 | — | $-23.08 | ||
| Q3 25 | $-0.24 | $-9.67 | ||
| Q2 25 | $-0.12 | $-6.23 | ||
| Q1 25 | $0.01 | $-6.28 | ||
| Q4 24 | $-2.81 | $-23.13 | ||
| Q3 24 | $0.09 | $-15.70 | ||
| Q2 24 | $0.05 | $-7.37 | ||
| Q1 24 | $-0.51 | $-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 | $60.9M | $25.0M |
| Total DebtLower is stronger | $2.0B | $228.4M |
| Stockholders' EquityBook value | $470.7M | $-155.2M |
| Total Assets | $2.9B | $656.6M |
| Debt / EquityLower = less leverage | 4.30× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $25.0M | ||
| Q3 25 | $60.9M | $37.7M | ||
| Q2 25 | $54.1M | $38.6M | ||
| Q1 25 | $61.2M | $40.1M | ||
| Q4 24 | $50.6M | $38.8M | ||
| Q3 24 | $54.7M | $63.0M | ||
| Q2 24 | $40.3M | $73.1M | ||
| Q1 24 | $42.5M | $27.3M |
| Q4 25 | — | $228.4M | ||
| Q3 25 | $2.0B | $252.8M | ||
| Q2 25 | $2.0B | $182.0M | ||
| Q1 25 | $2.0B | $171.1M | ||
| Q4 24 | $2.0B | $108.9M | ||
| Q3 24 | $2.1B | $133.2M | ||
| Q2 24 | $2.0B | $133.1M | ||
| Q1 24 | $2.0B | $118.1M |
| Q4 25 | — | $-155.2M | ||
| Q3 25 | $470.7M | $-18.7M | ||
| Q2 25 | $501.4M | $44.5M | ||
| Q1 25 | $513.1M | $63.3M | ||
| Q4 24 | $524.8M | $75.9M | ||
| Q3 24 | $755.3M | $120.5M | ||
| Q2 24 | $765.0M | $166.8M | ||
| Q1 24 | $781.2M | $146.6M |
| Q4 25 | — | $656.6M | ||
| Q3 25 | $2.9B | $683.6M | ||
| Q2 25 | $2.9B | $731.6M | ||
| Q1 25 | $3.0B | $783.9M | ||
| Q4 24 | $3.0B | $783.4M | ||
| Q3 24 | $3.4B | $833.3M | ||
| Q2 24 | $3.4B | $892.8M | ||
| Q1 24 | $3.4B | $855.9M |
| Q4 25 | — | — | ||
| Q3 25 | 4.30× | — | ||
| Q2 25 | 3.97× | 4.09× | ||
| Q1 25 | 3.91× | 2.71× | ||
| Q4 24 | 3.85× | 1.43× | ||
| Q3 24 | 2.75× | 1.11× | ||
| Q2 24 | 2.67× | 0.80× | ||
| Q1 24 | 2.61× | 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 | $-64.6M | $-25.7M |
| Free Cash FlowOCF − Capex | $-70.7M | — |
| FCF MarginFCF / Revenue | -16.1% | — |
| Capex IntensityCapex / Revenue | 1.4% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $54.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-25.7M | ||
| Q3 25 | $-64.6M | $-15.4M | ||
| Q2 25 | $17.8M | $-16.6M | ||
| Q1 25 | $52.7M | $-33.5M | ||
| Q4 24 | $80.3M | $-57.2M | ||
| Q3 24 | $4.2M | $-22.6M | ||
| Q2 24 | $11.3M | $-10.2M | ||
| Q1 24 | $35.1M | $-20.0M |
| Q4 25 | — | — | ||
| Q3 25 | $-70.7M | — | ||
| Q2 25 | $11.5M | — | ||
| Q1 25 | $42.4M | — | ||
| Q4 24 | $71.7M | — | ||
| Q3 24 | $-679.0K | — | ||
| Q2 24 | $5.2M | — | ||
| Q1 24 | $27.5M | — |
| Q4 25 | — | — | ||
| Q3 25 | -16.1% | — | ||
| Q2 25 | 2.7% | — | ||
| Q1 25 | 10.0% | — | ||
| Q4 24 | 13.0% | — | ||
| Q3 24 | -0.1% | — | ||
| Q2 24 | 1.2% | — | ||
| Q1 24 | 5.8% | — |
| Q4 25 | — | — | ||
| Q3 25 | 1.4% | — | ||
| Q2 25 | 1.5% | — | ||
| Q1 25 | 2.4% | — | ||
| Q4 24 | 1.6% | 0.0% | ||
| Q3 24 | 1.0% | 0.0% | ||
| Q2 24 | 1.4% | 0.0% | ||
| Q1 24 | 1.6% | 0.0% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 63.17× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.56× | — | ||
| Q2 24 | 2.87× | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BGS
| Specialty Segment | $150.5M | 34% |
| Meals Segment | $110.0M | 25% |
| Spices And Flavor Solutions Segment | $101.4M | 23% |
| Frozen And Vegetables Segment | $77.4M | 18% |
PIII
| Capitated Revenue | $366.2M | 95% |
| Health Care Patient Service | $18.6M | 5% |
| Health Care Care Coordination Management Fees | $2.7M | 1% |
