vs
Side-by-side financial comparison of CSW INDUSTRIALS, INC. (CSW) 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 $233.0M, roughly 1.7× CSW INDUSTRIALS, INC.). CSW INDUSTRIALS, INC. runs the higher net margin — 4.4% vs -19.6%, a 24.0% gap on every dollar of revenue. On growth, CSW INDUSTRIALS, INC. posted the faster year-over-year revenue change (20.3% vs 3.8%). Over the past eight quarters, CSW INDUSTRIALS, INC.'s revenue compounded faster (5.1% CAGR vs -0.5%).
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.
CSW vs PIII — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $233.0M | $384.8M |
| Net Profit | $10.3M | $-75.5M |
| Gross Margin | 39.7% | — |
| Operating Margin | 7.4% | -40.0% |
| Net Margin | 4.4% | -19.6% |
| Revenue YoY | 20.3% | 3.8% |
| Net Profit YoY | -61.9% | -28.8% |
| EPS (diluted) | $0.62 | $-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 | $233.0M | $384.8M | ||
| Q3 25 | $277.0M | $345.3M | ||
| Q2 25 | $263.6M | $355.8M | ||
| Q1 25 | $230.5M | $373.2M | ||
| Q4 24 | $193.6M | $370.7M | ||
| Q3 24 | $227.9M | $362.1M | ||
| Q2 24 | $226.2M | $379.2M | ||
| Q1 24 | $210.9M | $388.5M |
| Q4 25 | $10.3M | $-75.5M | ||
| Q3 25 | $40.7M | $-31.6M | ||
| Q2 25 | $40.9M | $-20.4M | ||
| Q1 25 | $35.1M | $-20.5M | ||
| Q4 24 | $26.9M | $-58.6M | ||
| Q3 24 | $36.1M | $-46.5M | ||
| Q2 24 | $38.6M | $-12.0M | ||
| Q1 24 | $31.8M | $-18.7M |
| Q4 25 | 39.7% | — | ||
| Q3 25 | 43.0% | — | ||
| Q2 25 | 43.8% | — | ||
| Q1 25 | 44.2% | — | ||
| Q4 24 | 41.4% | — | ||
| Q3 24 | 45.6% | — | ||
| Q2 24 | 47.5% | — | ||
| Q1 24 | 44.4% | — |
| Q4 25 | 7.4% | -40.0% | ||
| Q3 25 | 20.5% | -12.8% | ||
| Q2 25 | 20.8% | -9.6% | ||
| Q1 25 | 19.5% | -10.2% | ||
| Q4 24 | 15.3% | -37.4% | ||
| Q3 24 | 22.6% | -29.5% | ||
| Q2 24 | 24.3% | -8.3% | ||
| Q1 24 | 21.0% | -11.3% |
| Q4 25 | 4.4% | -19.6% | ||
| Q3 25 | 14.7% | -9.1% | ||
| Q2 25 | 15.5% | -5.7% | ||
| Q1 25 | 15.2% | -5.5% | ||
| Q4 24 | 13.9% | -15.8% | ||
| Q3 24 | 15.8% | -12.8% | ||
| Q2 24 | 17.1% | -3.2% | ||
| Q1 24 | 15.1% | -4.8% |
| Q4 25 | $0.62 | $-23.08 | ||
| Q3 25 | $2.41 | $-9.67 | ||
| Q2 25 | $2.43 | $-6.23 | ||
| Q1 25 | $2.05 | $-6.28 | ||
| Q4 24 | $1.60 | $-23.13 | ||
| Q3 24 | $2.26 | $-15.70 | ||
| Q2 24 | $2.47 | $-7.37 | ||
| Q1 24 | $2.03 | $-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 | $40.2M | $25.0M |
| Total DebtLower is stronger | — | $228.4M |
| Stockholders' EquityBook value | $1.1B | $-155.2M |
| Total Assets | $2.3B | $656.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $40.2M | $25.0M | ||
| Q3 25 | $31.5M | $37.7M | ||
| Q2 25 | $38.0M | $38.6M | ||
| Q1 25 | $225.8M | $40.1M | ||
| Q4 24 | $213.8M | $38.8M | ||
| Q3 24 | $273.2M | $63.0M | ||
| Q2 24 | $18.9M | $73.1M | ||
| Q1 24 | $22.2M | $27.3M |
| Q4 25 | — | $228.4M | ||
| Q3 25 | — | $252.8M | ||
| Q2 25 | — | $182.0M | ||
| Q1 25 | $800.1M | $171.1M | ||
| Q4 24 | — | $108.9M | ||
| Q3 24 | — | $133.2M | ||
| Q2 24 | — | $133.1M | ||
| Q1 24 | $166.0M | $118.1M |
| Q4 25 | $1.1B | $-155.2M | ||
| Q3 25 | $1.1B | $-18.7M | ||
| Q2 25 | $1.1B | $44.5M | ||
| Q1 25 | $1.1B | $63.3M | ||
| Q4 24 | $1.0B | $75.9M | ||
| Q3 24 | $1.0B | $120.5M | ||
| Q2 24 | $650.2M | $166.8M | ||
| Q1 24 | $615.7M | $146.6M |
| Q4 25 | $2.3B | $656.6M | ||
| Q3 25 | $1.5B | $683.6M | ||
| Q2 25 | $1.5B | $731.6M | ||
| Q1 25 | $1.4B | $783.9M | ||
| Q4 24 | $1.4B | $783.4M | ||
| Q3 24 | $1.4B | $833.3M | ||
| Q2 24 | $1.1B | $892.8M | ||
| Q1 24 | $1.0B | $855.9M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 4.09× | ||
| Q1 25 | 0.75× | 2.71× | ||
| Q4 24 | — | 1.43× | ||
| Q3 24 | — | 1.11× | ||
| Q2 24 | — | 0.80× | ||
| Q1 24 | 0.27× | 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 | $28.9M | $-25.7M |
| Free Cash FlowOCF − Capex | $22.7M | — |
| FCF MarginFCF / Revenue | 9.8% | — |
| Capex IntensityCapex / Revenue | 2.6% | — |
| Cash ConversionOCF / Net Profit | 2.81× | — |
| TTM Free Cash FlowTrailing 4 quarters | $162.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.9M | $-25.7M | ||
| Q3 25 | $61.8M | $-15.4M | ||
| Q2 25 | $60.6M | $-16.6M | ||
| Q1 25 | $27.3M | $-33.5M | ||
| Q4 24 | $11.6M | $-57.2M | ||
| Q3 24 | $66.8M | $-22.6M | ||
| Q2 24 | $62.7M | $-10.2M | ||
| Q1 24 | $22.4M | $-20.0M |
| Q4 25 | $22.7M | — | ||
| Q3 25 | $58.7M | — | ||
| Q2 25 | $57.7M | — | ||
| Q1 25 | $22.8M | — | ||
| Q4 24 | $8.5M | — | ||
| Q3 24 | $61.3M | — | ||
| Q2 24 | $59.6M | — | ||
| Q1 24 | $17.5M | — |
| Q4 25 | 9.8% | — | ||
| Q3 25 | 21.2% | — | ||
| Q2 25 | 21.9% | — | ||
| Q1 25 | 9.9% | — | ||
| Q4 24 | 4.4% | — | ||
| Q3 24 | 26.9% | — | ||
| Q2 24 | 26.3% | — | ||
| Q1 24 | 8.3% | — |
| Q4 25 | 2.6% | — | ||
| Q3 25 | 1.1% | — | ||
| Q2 25 | 1.1% | — | ||
| Q1 25 | 2.0% | — | ||
| Q4 24 | 1.6% | 0.0% | ||
| Q3 24 | 2.4% | 0.0% | ||
| Q2 24 | 1.4% | 0.0% | ||
| Q1 24 | 2.3% | 0.0% |
| Q4 25 | 2.81× | — | ||
| Q3 25 | 1.52× | — | ||
| Q2 25 | 1.48× | — | ||
| Q1 25 | 0.78× | — | ||
| Q4 24 | 0.43× | — | ||
| Q3 24 | 1.85× | — | ||
| Q2 24 | 1.62× | — | ||
| Q1 24 | 0.71× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CSW
| Contractor Solutions Segment | $166.3M | 71% |
| Specialized Reliability Solutions Segment | $38.2M | 16% |
| Engineered Building Solutions Segment | $28.5M | 12% |
PIII
| Capitated Revenue | $366.2M | 95% |
| Health Care Patient Service | $18.6M | 5% |
| Health Care Care Coordination Management Fees | $2.7M | 1% |
