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Side-by-side financial comparison of Dine Brands Global, Inc. (DIN) 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 $217.6M, roughly 1.8× Dine Brands Global, Inc.). Dine Brands Global, Inc. runs the higher net margin — -5.6% vs -19.6%, a 14.0% gap on every dollar of revenue. On growth, Dine Brands Global, Inc. posted the faster year-over-year revenue change (6.3% vs 3.8%). Over the past eight quarters, Dine Brands Global, Inc.'s revenue compounded faster (2.7% CAGR vs -0.5%).
Dine Brands Global Inc. is a publicly traded food and beverage company based in Pasadena, California. Founded in 1958 as IHOP, it operates franchised and corporate owned full-service restaurants including three restaurant concepts, Applebee's Neighborhood Grill & Bar, International House of Pancakes (IHOP), and Fuzzy's Taco Shop.
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.
DIN vs PIII — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $217.6M | $384.8M |
| Net Profit | $-12.2M | $-75.5M |
| Gross Margin | 42.4% | — |
| Operating Margin | -7.6% | -40.0% |
| Net Margin | -5.6% | -19.6% |
| Revenue YoY | 6.3% | 3.8% |
| Net Profit YoY | -336.1% | -28.8% |
| EPS (diluted) | $-0.79 | $-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 | $217.6M | $384.8M | ||
| Q3 25 | $216.2M | $345.3M | ||
| Q2 25 | $230.8M | $355.8M | ||
| Q1 25 | $214.8M | $373.2M | ||
| Q4 24 | $204.8M | $370.7M | ||
| Q3 24 | $195.0M | $362.1M | ||
| Q2 24 | $206.3M | $379.2M | ||
| Q1 24 | $206.2M | $388.5M |
| Q4 25 | $-12.2M | $-75.5M | ||
| Q3 25 | $7.3M | $-31.6M | ||
| Q2 25 | $13.8M | $-20.4M | ||
| Q1 25 | $8.2M | $-20.5M | ||
| Q4 24 | $5.2M | $-58.6M | ||
| Q3 24 | $19.1M | $-46.5M | ||
| Q2 24 | $23.2M | $-12.0M | ||
| Q1 24 | $17.5M | $-18.7M |
| Q4 25 | 42.4% | — | ||
| Q3 25 | 39.1% | — | ||
| Q2 25 | 40.0% | — | ||
| Q1 25 | 42.0% | — | ||
| Q4 24 | 41.7% | — | ||
| Q3 24 | 47.8% | — | ||
| Q2 24 | 48.1% | — | ||
| Q1 24 | 47.2% | — |
| Q4 25 | -7.6% | -40.0% | ||
| Q3 25 | 4.7% | -12.8% | ||
| Q2 25 | 8.2% | -9.6% | ||
| Q1 25 | 6.0% | -10.2% | ||
| Q4 24 | 3.8% | -37.4% | ||
| Q3 24 | 13.6% | -29.5% | ||
| Q2 24 | 15.1% | -8.3% | ||
| Q1 24 | 11.7% | -11.3% |
| Q4 25 | -5.6% | -19.6% | ||
| Q3 25 | 3.4% | -9.1% | ||
| Q2 25 | 6.0% | -5.7% | ||
| Q1 25 | 3.8% | -5.5% | ||
| Q4 24 | 2.5% | -15.8% | ||
| Q3 24 | 9.8% | -12.8% | ||
| Q2 24 | 11.2% | -3.2% | ||
| Q1 24 | 8.5% | -4.8% |
| Q4 25 | $-0.79 | $-23.08 | ||
| Q3 25 | $0.48 | $-9.67 | ||
| Q2 25 | $0.89 | $-6.23 | ||
| Q1 25 | $0.53 | $-6.28 | ||
| Q4 24 | $0.35 | $-23.13 | ||
| Q3 24 | $1.24 | $-15.70 | ||
| Q2 24 | $1.50 | $-7.37 | ||
| Q1 24 | $1.13 | $-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 | $128.2M | $25.0M |
| Total DebtLower is stronger | $1.2B | $228.4M |
| Stockholders' EquityBook value | $-273.9M | $-155.2M |
| Total Assets | $1.7B | $656.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $128.2M | $25.0M | ||
| Q3 25 | $167.9M | $37.7M | ||
| Q2 25 | $194.2M | $38.6M | ||
| Q1 25 | $186.5M | $40.1M | ||
| Q4 24 | $186.7M | $38.8M | ||
| Q3 24 | $169.6M | $63.0M | ||
| Q2 24 | $153.5M | $73.1M | ||
| Q1 24 | $145.0M | $27.3M |
| Q4 25 | $1.2B | $228.4M | ||
| Q3 25 | $1.2B | $252.8M | ||
| Q2 25 | $1.2B | $182.0M | ||
| Q1 25 | $1.2B | $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 | $-273.9M | $-155.2M | ||
| Q3 25 | $-231.9M | $-18.7M | ||
| Q2 25 | $-212.5M | $44.5M | ||
| Q1 25 | $-215.7M | $63.3M | ||
| Q4 24 | $-216.0M | $75.9M | ||
| Q3 24 | $-216.7M | $120.5M | ||
| Q2 24 | $-231.7M | $166.8M | ||
| Q1 24 | $-244.8M | $146.6M |
| Q4 25 | $1.7B | $656.6M | ||
| Q3 25 | $1.8B | $683.6M | ||
| Q2 25 | $1.8B | $731.6M | ||
| Q1 25 | $1.8B | $783.9M | ||
| Q4 24 | $1.8B | $783.4M | ||
| Q3 24 | $1.7B | $833.3M | ||
| Q2 24 | $1.7B | $892.8M | ||
| Q1 24 | $1.7B | $855.9M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 4.09× | ||
| Q1 25 | — | 2.71× | ||
| Q4 24 | — | 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 | $5.7M | $-25.7M |
| Free Cash FlowOCF − Capex | $-8.6M | — |
| FCF MarginFCF / Revenue | -3.9% | — |
| Capex IntensityCapex / Revenue | 6.6% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $53.4M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $5.7M | $-25.7M | ||
| Q3 25 | $30.2M | $-15.4M | ||
| Q2 25 | $37.0M | $-16.6M | ||
| Q1 25 | $16.1M | $-33.5M | ||
| Q4 24 | $30.5M | $-57.2M | ||
| Q3 24 | $25.5M | $-22.6M | ||
| Q2 24 | $21.6M | $-10.2M | ||
| Q1 24 | $30.6M | $-20.0M |
| Q4 25 | $-8.6M | — | ||
| Q3 25 | $18.1M | — | ||
| Q2 25 | $31.0M | — | ||
| Q1 25 | $12.8M | — | ||
| Q4 24 | $26.7M | — | ||
| Q3 24 | $22.0M | — | ||
| Q2 24 | $18.2M | — | ||
| Q1 24 | $27.2M | — |
| Q4 25 | -3.9% | — | ||
| Q3 25 | 8.4% | — | ||
| Q2 25 | 13.4% | — | ||
| Q1 25 | 6.0% | — | ||
| Q4 24 | 13.0% | — | ||
| Q3 24 | 11.3% | — | ||
| Q2 24 | 8.8% | — | ||
| Q1 24 | 13.2% | — |
| Q4 25 | 6.6% | — | ||
| Q3 25 | 5.6% | — | ||
| Q2 25 | 2.6% | — | ||
| Q1 25 | 1.5% | — | ||
| Q4 24 | 1.9% | 0.0% | ||
| Q3 24 | 1.8% | 0.0% | ||
| Q2 24 | 1.7% | 0.0% | ||
| Q1 24 | 1.6% | 0.0% |
| Q4 25 | — | — | ||
| Q3 25 | 4.12× | — | ||
| Q2 25 | 2.68× | — | ||
| Q1 25 | 1.97× | — | ||
| Q4 24 | 5.88× | — | ||
| Q3 24 | 1.34× | — | ||
| Q2 24 | 0.93× | — | ||
| Q1 24 | 1.75× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DIN
| Franchisor | $163.2M | 75% |
| Food And Beverage | $27.3M | 13% |
| Proprietary Product Sales And Other | $17.0M | 8% |
| Other | $8.1M | 4% |
| Franchise And Development Fees | $2.0M | 1% |
PIII
| Capitated Revenue | $366.2M | 95% |
| Health Care Patient Service | $18.6M | 5% |
| Health Care Care Coordination Management Fees | $2.7M | 1% |
