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Side-by-side financial comparison of Dayforce (DAY) and P3 Health Partners Inc. (PIII). Click either name above to swap in a different company.
Dayforce is the larger business by last-quarter revenue ($481.6M vs $384.8M, roughly 1.3× P3 Health Partners Inc.). P3 Health Partners Inc. runs the higher net margin — -19.6% vs -40.9%, a 21.2% gap on every dollar of revenue. On growth, Dayforce posted the faster year-over-year revenue change (9.5% vs 3.8%). Over the past eight quarters, Dayforce's revenue compounded faster (9.8% CAGR vs -0.5%).
Dayforce, Inc., formerly Ceridian, is an American human resources software and services company.
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.
DAY vs PIII — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $481.6M | $384.8M |
| Net Profit | $-196.8M | $-75.5M |
| Gross Margin | — | — |
| Operating Margin | 6.3% | -40.0% |
| Net Margin | -40.9% | -19.6% |
| Revenue YoY | 9.5% | 3.8% |
| Net Profit YoY | -9940.0% | -28.8% |
| EPS (diluted) | $-1.23 | $-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 | $481.6M | $345.3M | ||
| Q2 25 | $464.7M | $355.8M | ||
| Q1 25 | $481.8M | $373.2M | ||
| Q4 24 | $465.2M | $370.7M | ||
| Q3 24 | $440.0M | $362.1M | ||
| Q2 24 | $423.3M | $379.2M | ||
| Q1 24 | $431.5M | $388.5M |
| Q4 25 | — | $-75.5M | ||
| Q3 25 | $-196.8M | $-31.6M | ||
| Q2 25 | $21.3M | $-20.4M | ||
| Q1 25 | $14.9M | $-20.5M | ||
| Q4 24 | $10.8M | $-58.6M | ||
| Q3 24 | $2.0M | $-46.5M | ||
| Q2 24 | $-1.8M | $-12.0M | ||
| Q1 24 | $7.1M | $-18.7M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 47.0% | — | ||
| Q3 24 | 45.8% | — | ||
| Q2 24 | 44.1% | — | ||
| Q1 24 | 47.6% | — |
| Q4 25 | — | -40.0% | ||
| Q3 25 | 6.3% | -12.8% | ||
| Q2 25 | 9.1% | -9.6% | ||
| Q1 25 | 6.4% | -10.2% | ||
| Q4 24 | 6.1% | -37.4% | ||
| Q3 24 | 4.7% | -29.5% | ||
| Q2 24 | 3.3% | -8.3% | ||
| Q1 24 | 9.4% | -11.3% |
| Q4 25 | — | -19.6% | ||
| Q3 25 | -40.9% | -9.1% | ||
| Q2 25 | 4.6% | -5.7% | ||
| Q1 25 | 3.1% | -5.5% | ||
| Q4 24 | 2.3% | -15.8% | ||
| Q3 24 | 0.5% | -12.8% | ||
| Q2 24 | -0.4% | -3.2% | ||
| Q1 24 | 1.6% | -4.8% |
| Q4 25 | — | $-23.08 | ||
| Q3 25 | $-1.23 | $-9.67 | ||
| Q2 25 | $0.13 | $-6.23 | ||
| Q1 25 | $0.09 | $-6.28 | ||
| Q4 24 | $0.07 | $-23.13 | ||
| Q3 24 | $0.01 | $-15.70 | ||
| Q2 24 | $-0.01 | $-7.37 | ||
| Q1 24 | $0.04 | $-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 | $627.6M | $25.0M |
| Total DebtLower is stronger | $631.1M | $228.4M |
| Stockholders' EquityBook value | $2.7B | $-155.2M |
| Total Assets | $8.7B | $656.6M |
| Debt / EquityLower = less leverage | 0.23× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $25.0M | ||
| Q3 25 | $627.6M | $37.7M | ||
| Q2 25 | $625.2M | $38.6M | ||
| Q1 25 | $557.3M | $40.1M | ||
| Q4 24 | $579.7M | $38.8M | ||
| Q3 24 | $494.1M | $63.0M | ||
| Q2 24 | $465.4M | $73.1M | ||
| Q1 24 | $392.5M | $27.3M |
| Q4 25 | — | $228.4M | ||
| Q3 25 | $631.1M | $252.8M | ||
| Q2 25 | $631.8M | $182.0M | ||
| Q1 25 | $632.4M | $171.1M | ||
| Q4 24 | $1.2B | $108.9M | ||
| Q3 24 | $1.2B | $133.2M | ||
| Q2 24 | $1.2B | $133.1M | ||
| Q1 24 | $1.2B | $118.1M |
| Q4 25 | — | $-155.2M | ||
| Q3 25 | $2.7B | $-18.7M | ||
| Q2 25 | $2.7B | $44.5M | ||
| Q1 25 | $2.6B | $63.3M | ||
| Q4 24 | $2.5B | $75.9M | ||
| Q3 24 | $2.6B | $120.5M | ||
| Q2 24 | $2.5B | $166.8M | ||
| Q1 24 | $2.4B | $146.6M |
| Q4 25 | — | $656.6M | ||
| Q3 25 | $8.7B | $683.6M | ||
| Q2 25 | $8.5B | $731.6M | ||
| Q1 25 | $9.5B | $783.9M | ||
| Q4 24 | $9.1B | $783.4M | ||
| Q3 24 | $8.1B | $833.3M | ||
| Q2 24 | $9.0B | $892.8M | ||
| Q1 24 | $10.8B | $855.9M |
| Q4 25 | — | — | ||
| Q3 25 | 0.23× | — | ||
| Q2 25 | 0.23× | 4.09× | ||
| Q1 25 | 0.24× | 2.71× | ||
| Q4 24 | 0.47× | 1.43× | ||
| Q3 24 | 0.47× | 1.11× | ||
| Q2 24 | 0.49× | 0.80× | ||
| Q1 24 | 0.50× | 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 | $31.2M | $-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.
| Q4 25 | — | $-25.7M | ||
| Q3 25 | $31.2M | $-15.4M | ||
| Q2 25 | $112.7M | $-16.6M | ||
| Q1 25 | $49.6M | $-33.5M | ||
| Q4 24 | $81.0M | $-57.2M | ||
| Q3 24 | $91.8M | $-22.6M | ||
| Q2 24 | $99.2M | $-10.2M | ||
| Q1 24 | $9.1M | $-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 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 5.29× | — | ||
| Q1 25 | 3.33× | — | ||
| Q4 24 | 7.50× | — | ||
| Q3 24 | 45.90× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 1.28× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DAY
| Dayforce Recurring | $333.0M | 69% |
| Cloud And Bureau Professional Services And Other | $78.5M | 16% |
| Float | $42.2M | 9% |
| Powerpay Recurring | $19.7M | 4% |
| Other Recurring | $8.2M | 2% |
PIII
| Capitated Revenue | $366.2M | 95% |
| Health Care Patient Service | $18.6M | 5% |
| Health Care Care Coordination Management Fees | $2.7M | 1% |
