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Side-by-side financial comparison of Claritev Corp (CTEV) 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 $246.6M, roughly 1.6× Claritev Corp). P3 Health Partners Inc. runs the higher net margin — -19.6% vs -32.7%, a 13.1% gap on every dollar of revenue. On growth, Claritev Corp posted the faster year-over-year revenue change (6.2% vs 3.8%). Over the past eight quarters, Claritev Corp's revenue compounded faster (2.5% 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.
CTEV vs PIII — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $246.6M | $384.8M |
| Net Profit | $-80.6M | $-75.5M |
| Gross Margin | — | — |
| Operating Margin | -3.1% | -40.0% |
| Net Margin | -32.7% | -19.6% |
| Revenue YoY | 6.2% | 3.8% |
| Net Profit YoY | 41.6% | -28.8% |
| EPS (diluted) | $-4.88 | $-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 | $246.6M | $384.8M | ||
| Q3 25 | $246.0M | $345.3M | ||
| Q2 25 | $241.6M | $355.8M | ||
| Q1 25 | $231.3M | $373.2M | ||
| Q4 24 | $232.1M | $370.7M | ||
| Q3 24 | $230.5M | $362.1M | ||
| Q2 24 | $233.5M | $379.2M | ||
| Q1 24 | $234.5M | $388.5M |
| Q4 25 | $-80.6M | $-75.5M | ||
| Q3 25 | $-69.8M | $-31.6M | ||
| Q2 25 | $-62.6M | $-20.4M | ||
| Q1 25 | $-71.3M | $-20.5M | ||
| Q4 24 | $-138.0M | $-58.6M | ||
| Q3 24 | $-391.4M | $-46.5M | ||
| Q2 24 | $-576.7M | $-12.0M | ||
| Q1 24 | $-539.7M | $-18.7M |
| Q4 25 | -3.1% | -40.0% | ||
| Q3 25 | 4.1% | -12.8% | ||
| Q2 25 | 6.9% | -9.6% | ||
| Q1 25 | 4.2% | -10.2% | ||
| Q4 24 | -17.8% | -37.4% | ||
| Q3 24 | -146.7% | -29.5% | ||
| Q2 24 | -224.4% | -8.3% | ||
| Q1 24 | -207.4% | -11.3% |
| Q4 25 | -32.7% | -19.6% | ||
| Q3 25 | -28.4% | -9.1% | ||
| Q2 25 | -25.9% | -5.7% | ||
| Q1 25 | -30.8% | -5.5% | ||
| Q4 24 | -59.4% | -15.8% | ||
| Q3 24 | -169.8% | -12.8% | ||
| Q2 24 | -247.0% | -3.2% | ||
| Q1 24 | -230.1% | -4.8% |
| Q4 25 | $-4.88 | $-23.08 | ||
| Q3 25 | $-4.23 | $-9.67 | ||
| Q2 25 | $-3.81 | $-6.23 | ||
| Q1 25 | $-4.38 | $-6.28 | ||
| Q4 24 | $-8.49 | $-23.13 | ||
| Q3 24 | $-24.25 | $-15.70 | ||
| Q2 24 | $-35.78 | $-7.37 | ||
| Q1 24 | $-33.40 | $-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 | $16.8M | $25.0M |
| Total DebtLower is stronger | $4.6B | $228.4M |
| Stockholders' EquityBook value | $-173.9M | $-155.2M |
| Total Assets | $4.9B | $656.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $16.8M | $25.0M | ||
| Q3 25 | $39.2M | $37.7M | ||
| Q2 25 | $56.4M | $38.6M | ||
| Q1 25 | $23.1M | $40.1M | ||
| Q4 24 | $16.8M | $38.8M | ||
| Q3 24 | $86.6M | $63.0M | ||
| Q2 24 | $48.8M | $73.1M | ||
| Q1 24 | $58.7M | $27.3M |
| Q4 25 | $4.6B | $228.4M | ||
| Q3 25 | $4.5B | $252.8M | ||
| Q2 25 | $4.5B | $182.0M | ||
| Q1 25 | $4.5B | $171.1M | ||
| Q4 24 | $4.5B | $108.9M | ||
| Q3 24 | $4.5B | $133.2M | ||
| Q2 24 | $4.5B | $133.1M | ||
| Q1 24 | $4.5B | $118.1M |
| Q4 25 | $-173.9M | $-155.2M | ||
| Q3 25 | $-101.8M | $-18.7M | ||
| Q2 25 | $-39.9M | $44.5M | ||
| Q1 25 | $14.8M | $63.3M | ||
| Q4 24 | $84.0M | $75.9M | ||
| Q3 24 | $207.6M | $120.5M | ||
| Q2 24 | $603.4M | $166.8M | ||
| Q1 24 | $1.2B | $146.6M |
| Q4 25 | $4.9B | $656.6M | ||
| Q3 25 | $5.0B | $683.6M | ||
| Q2 25 | $5.1B | $731.6M | ||
| Q1 25 | $5.1B | $783.9M | ||
| Q4 24 | $5.2B | $783.4M | ||
| Q3 24 | $5.3B | $833.3M | ||
| Q2 24 | $5.7B | $892.8M | ||
| Q1 24 | $6.4B | $855.9M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 4.09× | ||
| Q1 25 | 304.87× | 2.71× | ||
| Q4 24 | 53.67× | 1.43× | ||
| Q3 24 | 21.73× | 1.11× | ||
| Q2 24 | 7.48× | 0.80× | ||
| Q1 24 | 3.85× | 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 | $66.3M | $-25.7M |
| Free Cash FlowOCF − Capex | $36.4M | — |
| FCF MarginFCF / Revenue | 14.8% | — |
| Capex IntensityCapex / Revenue | 12.1% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-12.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $66.3M | $-25.7M | ||
| Q3 25 | $19.9M | $-15.4M | ||
| Q2 25 | $61.2M | $-16.6M | ||
| Q1 25 | $-30.1M | $-33.5M | ||
| Q4 24 | $-33.4M | $-57.2M | ||
| Q3 24 | $72.8M | $-22.6M | ||
| Q2 24 | $18.5M | $-10.2M | ||
| Q1 24 | $49.7M | $-20.0M |
| Q4 25 | $36.4M | — | ||
| Q3 25 | $-16.3M | — | ||
| Q2 25 | $36.6M | — | ||
| Q1 25 | $-68.9M | — | ||
| Q4 24 | $-63.8M | — | ||
| Q3 24 | $41.1M | — | ||
| Q2 24 | $-7.0M | — | ||
| Q1 24 | $19.2M | — |
| Q4 25 | 14.8% | — | ||
| Q3 25 | -6.6% | — | ||
| Q2 25 | 15.2% | — | ||
| Q1 25 | -29.8% | — | ||
| Q4 24 | -27.5% | — | ||
| Q3 24 | 17.8% | — | ||
| Q2 24 | -3.0% | — | ||
| Q1 24 | 8.2% | — |
| Q4 25 | 12.1% | — | ||
| Q3 25 | 14.7% | — | ||
| Q2 25 | 10.2% | — | ||
| Q1 25 | 16.8% | — | ||
| Q4 24 | 13.1% | 0.0% | ||
| Q3 24 | 13.8% | 0.0% | ||
| Q2 24 | 10.9% | 0.0% | ||
| Q1 24 | 13.0% | 0.0% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CTEV
Segment breakdown not available.
PIII
| Capitated Revenue | $366.2M | 95% |
| Health Care Patient Service | $18.6M | 5% |
| Health Care Care Coordination Management Fees | $2.7M | 1% |
