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Side-by-side financial comparison of Dolby Laboratories, Inc. (DLB) and P3 Health Partners Inc. (PIII). Click either name above to swap in a different company.
Dolby Laboratories, Inc. is the larger business by last-quarter revenue ($395.6M vs $384.8M, roughly 1.0× P3 Health Partners Inc.). Dolby Laboratories, Inc. runs the higher net margin — 24.0% vs -19.6%, a 43.6% gap on every dollar of revenue. On growth, Dolby Laboratories, Inc. posted the faster year-over-year revenue change (7.1% vs 3.8%). Over the past eight quarters, Dolby Laboratories, Inc.'s revenue compounded faster (13.9% CAGR vs -0.5%).
Dolby Laboratories, Inc. is an American technology corporation specializing in audio noise reduction, audio encoding/compression, spatial audio, and high-dynamic-range television (HDR) imaging. Dolby licenses its technologies to consumer electronics manufacturers.
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.
DLB vs PIII — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $395.6M | $384.8M |
| Net Profit | $94.9M | $-75.5M |
| Gross Margin | 88.7% | — |
| Operating Margin | 28.5% | -40.0% |
| Net Margin | 24.0% | -19.6% |
| Revenue YoY | 7.1% | 3.8% |
| Net Profit YoY | 3.4% | -28.8% |
| EPS (diluted) | $0.99 | $-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.
| Q2 26 | $395.6M | — | ||
| Q1 26 | $346.7M | — | ||
| Q4 25 | $346.7M | $384.8M | ||
| Q3 25 | $307.0M | $345.3M | ||
| Q2 25 | $315.5M | $355.8M | ||
| Q1 25 | $369.6M | $373.2M | ||
| Q4 24 | $357.0M | $370.7M | ||
| Q3 24 | $304.8M | $362.1M |
| Q2 26 | $94.9M | — | ||
| Q1 26 | $53.3M | — | ||
| Q4 25 | $53.3M | $-75.5M | ||
| Q3 25 | $49.3M | $-31.6M | ||
| Q2 25 | $46.1M | $-20.4M | ||
| Q1 25 | $91.8M | $-20.5M | ||
| Q4 24 | $67.8M | $-58.6M | ||
| Q3 24 | $58.6M | $-46.5M |
| Q2 26 | 88.7% | — | ||
| Q1 26 | 87.5% | — | ||
| Q4 25 | 87.5% | — | ||
| Q3 25 | 87.1% | — | ||
| Q2 25 | 86.1% | — | ||
| Q1 25 | 90.3% | — | ||
| Q4 24 | 88.6% | — | ||
| Q3 24 | 88.8% | — |
| Q2 26 | 28.5% | — | ||
| Q1 26 | 17.9% | — | ||
| Q4 25 | 17.9% | -40.0% | ||
| Q3 25 | 9.7% | -12.8% | ||
| Q2 25 | 15.1% | -9.6% | ||
| Q1 25 | 29.2% | -10.2% | ||
| Q4 24 | 22.4% | -37.4% | ||
| Q3 24 | 15.2% | -29.5% |
| Q2 26 | 24.0% | — | ||
| Q1 26 | 15.4% | — | ||
| Q4 25 | 15.4% | -19.6% | ||
| Q3 25 | 16.1% | -9.1% | ||
| Q2 25 | 14.6% | -5.7% | ||
| Q1 25 | 24.8% | -5.5% | ||
| Q4 24 | 19.0% | -15.8% | ||
| Q3 24 | 19.2% | -12.8% |
| Q2 26 | $0.99 | — | ||
| Q1 26 | $0.55 | — | ||
| Q4 25 | $0.55 | $-23.08 | ||
| Q3 25 | $0.50 | $-9.67 | ||
| Q2 25 | $0.48 | $-6.23 | ||
| Q1 25 | $0.94 | $-6.28 | ||
| Q4 24 | $0.70 | $-23.13 | ||
| Q3 24 | $0.59 | $-15.70 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $594.7M | $25.0M |
| Total DebtLower is stronger | — | $228.4M |
| Stockholders' EquityBook value | $2.6B | $-155.2M |
| Total Assets | $3.2B | $656.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q2 26 | $594.7M | — | ||
| Q1 26 | $644.6M | — | ||
| Q4 25 | $644.6M | $25.0M | ||
| Q3 25 | $702.6M | $37.7M | ||
| Q2 25 | $699.3M | $38.6M | ||
| Q1 25 | $626.6M | $40.1M | ||
| Q4 24 | $520.8M | $38.8M | ||
| Q3 24 | $482.0M | $63.0M |
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | — | $228.4M | ||
| Q3 25 | — | $252.8M | ||
| Q2 25 | — | $182.0M | ||
| Q1 25 | — | $171.1M | ||
| Q4 24 | — | $108.9M | ||
| Q3 24 | — | $133.2M |
| Q2 26 | $2.6B | — | ||
| Q1 26 | $2.6B | — | ||
| Q4 25 | $2.6B | $-155.2M | ||
| Q3 25 | $2.6B | $-18.7M | ||
| Q2 25 | $2.6B | $44.5M | ||
| Q1 25 | $2.6B | $63.3M | ||
| Q4 24 | $2.5B | $75.9M | ||
| Q3 24 | $2.5B | $120.5M |
| Q2 26 | $3.2B | — | ||
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.2B | $656.6M | ||
| Q3 25 | $3.2B | $683.6M | ||
| Q2 25 | $3.2B | $731.6M | ||
| Q1 25 | $3.2B | $783.9M | ||
| Q4 24 | $3.2B | $783.4M | ||
| Q3 24 | $3.1B | $833.3M |
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 4.09× | ||
| Q1 25 | — | 2.71× | ||
| Q4 24 | — | 1.43× | ||
| Q3 24 | — | 1.11× |
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 | $147.3M | $-25.7M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 1.55× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q2 26 | $147.3M | — | ||
| Q1 26 | $54.8M | — | ||
| Q4 25 | $54.8M | $-25.7M | ||
| Q3 25 | $472.2M | $-15.4M | ||
| Q2 25 | $67.7M | $-16.6M | ||
| Q1 25 | $174.9M | $-33.5M | ||
| Q4 24 | $106.8M | $-57.2M | ||
| Q3 24 | $327.3M | $-22.6M |
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | $50.2M | — | ||
| Q3 25 | $435.9M | — | ||
| Q2 25 | $61.3M | — | ||
| Q1 25 | $168.0M | — | ||
| Q4 24 | $100.0M | — | ||
| Q3 24 | $297.2M | — |
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | 14.5% | — | ||
| Q3 25 | 142.0% | — | ||
| Q2 25 | 19.4% | — | ||
| Q1 25 | 45.5% | — | ||
| Q4 24 | 28.0% | — | ||
| Q3 24 | 97.5% | — |
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | 1.3% | — | ||
| Q3 25 | 11.8% | — | ||
| Q2 25 | 2.0% | — | ||
| Q1 25 | 1.9% | — | ||
| Q4 24 | 1.9% | 0.0% | ||
| Q3 24 | 9.8% | 0.0% |
| Q2 26 | 1.55× | — | ||
| Q1 26 | 1.03× | — | ||
| Q4 25 | 1.03× | — | ||
| Q3 25 | 9.57× | — | ||
| Q2 25 | 1.47× | — | ||
| Q1 25 | 1.91× | — | ||
| Q4 24 | 1.57× | — | ||
| Q3 24 | 5.59× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DLB
| Licensing | $372.2M | 94% |
| Products and services | $23.4M | 6% |
PIII
| Capitated Revenue | $366.2M | 95% |
| Health Care Patient Service | $18.6M | 5% |
| Health Care Care Coordination Management Fees | $2.7M | 1% |
