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Side-by-side financial comparison of DIVERSIFIED HEALTHCARE TRUST (DHC) 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 $379.6M, roughly 1.0× DIVERSIFIED HEALTHCARE TRUST). DIVERSIFIED HEALTHCARE TRUST runs the higher net margin — -5.6% vs -19.6%, a 14.0% gap on every dollar of revenue. On growth, P3 Health Partners Inc. posted the faster year-over-year revenue change (3.8% vs -0.0%). Over the past eight quarters, DIVERSIFIED HEALTHCARE TRUST's revenue compounded faster (1.2% CAGR vs -0.5%).
GE Healthcare Technologies, Inc. is an American health technology company based in Chicago, Illinois. The company, which stylizes its own name as GE HealthCare, operates four divisions: Medical imaging, which includes molecular imaging, computed tomography, magnetic resonance, women’s health screening and X-ray systems; Ultrasound; Patient Care Solutions, which is focused on remote patient monitoring, anesthesia and respiratory care, diagnostic cardiology, and infant care; and Pharmaceutical ...
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.
DHC vs PIII — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $379.6M | $384.8M |
| Net Profit | $-21.2M | $-75.5M |
| Gross Margin | — | — |
| Operating Margin | -12.6% | -40.0% |
| Net Margin | -5.6% | -19.6% |
| Revenue YoY | -0.0% | 3.8% |
| Net Profit YoY | 75.7% | -28.8% |
| EPS (diluted) | $-0.09 | $-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 | $379.6M | $384.8M | ||
| Q3 25 | $388.7M | $345.3M | ||
| Q2 25 | $382.7M | $355.8M | ||
| Q1 25 | $386.9M | $373.2M | ||
| Q4 24 | $379.6M | $370.7M | ||
| Q3 24 | $373.6M | $362.1M | ||
| Q2 24 | $371.4M | $379.2M | ||
| Q1 24 | $370.8M | $388.5M |
| Q4 25 | $-21.2M | $-75.5M | ||
| Q3 25 | $-164.0M | $-31.6M | ||
| Q2 25 | $-91.6M | $-20.4M | ||
| Q1 25 | $-9.0M | $-20.5M | ||
| Q4 24 | $-87.4M | $-58.6M | ||
| Q3 24 | $-98.7M | $-46.5M | ||
| Q2 24 | $-97.9M | $-12.0M | ||
| Q1 24 | $-86.3M | $-18.7M |
| Q4 25 | -12.6% | -40.0% | ||
| Q3 25 | -43.4% | -12.8% | ||
| Q2 25 | -24.5% | -9.6% | ||
| Q1 25 | -2.7% | -10.2% | ||
| Q4 24 | -26.1% | -37.4% | ||
| Q3 24 | -26.5% | -29.5% | ||
| Q2 24 | -23.0% | -8.3% | ||
| Q1 24 | -23.7% | -11.3% |
| Q4 25 | -5.6% | -19.6% | ||
| Q3 25 | -42.2% | -9.1% | ||
| Q2 25 | -23.9% | -5.7% | ||
| Q1 25 | -2.3% | -5.5% | ||
| Q4 24 | -23.0% | -15.8% | ||
| Q3 24 | -26.4% | -12.8% | ||
| Q2 24 | -26.3% | -3.2% | ||
| Q1 24 | -23.3% | -4.8% |
| Q4 25 | $-0.09 | $-23.08 | ||
| Q3 25 | $-0.68 | $-9.67 | ||
| Q2 25 | $-0.38 | $-6.23 | ||
| Q1 25 | $-0.04 | $-6.28 | ||
| Q4 24 | $-0.37 | $-23.13 | ||
| Q3 24 | $-0.41 | $-15.70 | ||
| Q2 24 | $-0.41 | $-7.37 | ||
| Q1 24 | $-0.36 | $-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 | $105.4M | $25.0M |
| Total DebtLower is stronger | $2.4B | $228.4M |
| Stockholders' EquityBook value | $1.7B | $-155.2M |
| Total Assets | $4.4B | $656.6M |
| Debt / EquityLower = less leverage | 1.47× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $105.4M | $25.0M | ||
| Q3 25 | $201.4M | $37.7M | ||
| Q2 25 | $141.8M | $38.6M | ||
| Q1 25 | $302.6M | $40.1M | ||
| Q4 24 | $144.6M | $38.8M | ||
| Q3 24 | $256.5M | $63.0M | ||
| Q2 24 | $265.6M | $73.1M | ||
| Q1 24 | $207.1M | $27.3M |
| Q4 25 | $2.4B | $228.4M | ||
| Q3 25 | — | $252.8M | ||
| Q2 25 | — | $182.0M | ||
| Q1 25 | — | $171.1M | ||
| Q4 24 | $3.1B | $108.9M | ||
| Q3 24 | — | $133.2M | ||
| Q2 24 | — | $133.1M | ||
| Q1 24 | — | $118.1M |
| Q4 25 | $1.7B | $-155.2M | ||
| Q3 25 | $1.7B | $-18.7M | ||
| Q2 25 | $1.9B | $44.5M | ||
| Q1 25 | $1.9B | $63.3M | ||
| Q4 24 | $2.0B | $75.9M | ||
| Q3 24 | $2.0B | $120.5M | ||
| Q2 24 | $2.1B | $166.8M | ||
| Q1 24 | $2.2B | $146.6M |
| Q4 25 | $4.4B | $656.6M | ||
| Q3 25 | $4.7B | $683.6M | ||
| Q2 25 | $4.8B | $731.6M | ||
| Q1 25 | $5.0B | $783.9M | ||
| Q4 24 | $5.1B | $783.4M | ||
| Q3 24 | $5.3B | $833.3M | ||
| Q2 24 | $5.3B | $892.8M | ||
| Q1 24 | $5.3B | $855.9M |
| Q4 25 | 1.47× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 4.09× | ||
| Q1 25 | — | 2.71× | ||
| Q4 24 | 1.56× | 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 | $-19.6M | $-25.7M |
| Free Cash FlowOCF − Capex | $-166.4M | — |
| FCF MarginFCF / Revenue | -43.8% | — |
| Capex IntensityCapex / Revenue | 38.7% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-280.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-19.6M | $-25.7M | ||
| Q3 25 | $-49.3M | $-15.4M | ||
| Q2 25 | $53.0M | $-16.6M | ||
| Q1 25 | $-3.2M | $-33.5M | ||
| Q4 24 | $112.2M | $-57.2M | ||
| Q3 24 | $21.1M | $-22.6M | ||
| Q2 24 | $44.3M | $-10.2M | ||
| Q1 24 | $28.6M | $-20.0M |
| Q4 25 | $-166.4M | — | ||
| Q3 25 | $-89.8M | — | ||
| Q2 25 | $18.8M | — | ||
| Q1 25 | $-42.9M | — | ||
| Q4 24 | $-89.5M | — | ||
| Q3 24 | $-26.1M | — | ||
| Q2 24 | $3.3M | — | ||
| Q1 24 | $-18.1M | — |
| Q4 25 | -43.8% | — | ||
| Q3 25 | -23.1% | — | ||
| Q2 25 | 4.9% | — | ||
| Q1 25 | -11.1% | — | ||
| Q4 24 | -23.6% | — | ||
| Q3 24 | -7.0% | — | ||
| Q2 24 | 0.9% | — | ||
| Q1 24 | -4.9% | — |
| Q4 25 | 38.7% | — | ||
| Q3 25 | 10.4% | — | ||
| Q2 25 | 8.9% | — | ||
| Q1 25 | 10.2% | — | ||
| Q4 24 | 53.1% | 0.0% | ||
| Q3 24 | 12.6% | 0.0% | ||
| Q2 24 | 11.0% | 0.0% | ||
| Q1 24 | 12.6% | 0.0% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DHC
| Senior Housing Operating Portfolio Segment | $323.4M | 85% |
| Rental Income | $56.2M | 15% |
PIII
| Capitated Revenue | $366.2M | 95% |
| Health Care Patient Service | $18.6M | 5% |
| Health Care Care Coordination Management Fees | $2.7M | 1% |
