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Side-by-side financial comparison of DELUXE CORP (DLX) and P3 Health Partners Inc. (PIII). Click either name above to swap in a different company.
DELUXE CORP is the larger business by last-quarter revenue ($535.2M vs $384.8M, roughly 1.4× P3 Health Partners Inc.). DELUXE CORP runs the higher net margin — 2.2% vs -19.6%, a 21.9% gap on every dollar of revenue. On growth, P3 Health Partners Inc. posted the faster year-over-year revenue change (3.8% vs 2.8%). Over the past eight quarters, DELUXE CORP's revenue compounded faster (0.0% CAGR vs -0.5%).
Deluxe Corporation is an American company that provides payment processing, data services, checks and promotional products, and merchant services. It operates in four divisions: B2B payments, data, print, and merchant services. As of 2025, the company serves millions of small businesses and thousands of financial institutions, processing more than $2.8 trillion in payments annually. While its legacy business centers on check printing and other printed products, payments and data services now ...
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.
DLX vs PIII — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $535.2M | $384.8M |
| Net Profit | $12.0M | $-75.5M |
| Gross Margin | 52.2% | — |
| Operating Margin | 8.9% | -40.0% |
| Net Margin | 2.2% | -19.6% |
| Revenue YoY | 2.8% | 3.8% |
| Net Profit YoY | -5.0% | -28.8% |
| EPS (diluted) | $0.25 | $-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 | $535.2M | $384.8M | ||
| Q3 25 | $540.2M | $345.3M | ||
| Q2 25 | $521.3M | $355.8M | ||
| Q1 25 | $536.5M | $373.2M | ||
| Q4 24 | $520.6M | $370.7M | ||
| Q3 24 | $528.4M | $362.1M | ||
| Q2 24 | $537.8M | $379.2M | ||
| Q1 24 | $535.0M | $388.5M |
| Q4 25 | $12.0M | $-75.5M | ||
| Q3 25 | $33.7M | $-31.6M | ||
| Q2 25 | $22.4M | $-20.4M | ||
| Q1 25 | $14.0M | $-20.5M | ||
| Q4 24 | $12.6M | $-58.6M | ||
| Q3 24 | $8.9M | $-46.5M | ||
| Q2 24 | $20.5M | $-12.0M | ||
| Q1 24 | $10.8M | $-18.7M |
| Q4 25 | 52.2% | — | ||
| Q3 25 | 53.9% | — | ||
| Q2 25 | 53.6% | — | ||
| Q1 25 | 52.4% | — | ||
| Q4 24 | 52.3% | — | ||
| Q3 24 | 53.3% | — | ||
| Q2 24 | 53.7% | — | ||
| Q1 24 | 53.0% | — |
| Q4 25 | 8.9% | -40.0% | ||
| Q3 25 | 14.0% | -12.8% | ||
| Q2 25 | 11.7% | -9.6% | ||
| Q1 25 | 9.0% | -10.2% | ||
| Q4 24 | 9.0% | -37.4% | ||
| Q3 24 | 7.9% | -29.5% | ||
| Q2 24 | 11.0% | -8.3% | ||
| Q1 24 | 8.3% | -11.3% |
| Q4 25 | 2.2% | -19.6% | ||
| Q3 25 | 6.2% | -9.1% | ||
| Q2 25 | 4.3% | -5.7% | ||
| Q1 25 | 2.6% | -5.5% | ||
| Q4 24 | 2.4% | -15.8% | ||
| Q3 24 | 1.7% | -12.8% | ||
| Q2 24 | 3.8% | -3.2% | ||
| Q1 24 | 2.0% | -4.8% |
| Q4 25 | $0.25 | $-23.08 | ||
| Q3 25 | $0.74 | $-9.67 | ||
| Q2 25 | $0.50 | $-6.23 | ||
| Q1 25 | $0.31 | $-6.28 | ||
| Q4 24 | $0.28 | $-23.13 | ||
| Q3 24 | $0.20 | $-15.70 | ||
| Q2 24 | $0.46 | $-7.37 | ||
| Q1 24 | $0.24 | $-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 | $36.9M | $25.0M |
| Total DebtLower is stronger | — | $228.4M |
| Stockholders' EquityBook value | $680.7M | $-155.2M |
| Total Assets | $2.9B | $656.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $36.9M | $25.0M | ||
| Q3 25 | $25.8M | $37.7M | ||
| Q2 25 | $26.0M | $38.6M | ||
| Q1 25 | $30.3M | $40.1M | ||
| Q4 24 | $34.4M | $38.8M | ||
| Q3 24 | $41.3M | $63.0M | ||
| Q2 24 | $23.1M | $73.1M | ||
| Q1 24 | $23.5M | $27.3M |
| 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 24 | — | $133.1M | ||
| Q1 24 | — | $118.1M |
| Q4 25 | $680.7M | $-155.2M | ||
| Q3 25 | $664.1M | $-18.7M | ||
| Q2 25 | $638.7M | $44.5M | ||
| Q1 25 | $622.5M | $63.3M | ||
| Q4 24 | $620.9M | $75.9M | ||
| Q3 24 | $612.7M | $120.5M | ||
| Q2 24 | $620.5M | $166.8M | ||
| Q1 24 | $608.4M | $146.6M |
| Q4 25 | $2.9B | $656.6M | ||
| Q3 25 | $2.6B | $683.6M | ||
| Q2 25 | $2.5B | $731.6M | ||
| Q1 25 | $2.6B | $783.9M | ||
| Q4 24 | $2.8B | $783.4M | ||
| Q3 24 | $2.6B | $833.3M | ||
| Q2 24 | $2.7B | $892.8M | ||
| Q1 24 | $2.7B | $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 | $102.1M | $-25.7M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 8.53× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $102.1M | $-25.7M | ||
| Q3 25 | $67.1M | $-15.4M | ||
| Q2 25 | $51.1M | $-16.6M | ||
| Q1 25 | $50.3M | $-33.5M | ||
| Q4 24 | $60.2M | $-57.2M | ||
| Q3 24 | $67.9M | $-22.6M | ||
| Q2 24 | $39.6M | $-10.2M | ||
| Q1 24 | $26.6M | $-20.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $27.8M | — | ||
| Q1 25 | $24.3M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $46.7M | — | ||
| Q2 24 | $11.4M | — | ||
| Q1 24 | $6.1M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 5.3% | — | ||
| Q1 25 | 4.5% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 8.8% | — | ||
| Q2 24 | 2.1% | — | ||
| Q1 24 | 1.1% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 4.5% | — | ||
| Q1 25 | 4.8% | — | ||
| Q4 24 | — | 0.0% | ||
| Q3 24 | 4.0% | 0.0% | ||
| Q2 24 | 5.2% | 0.0% | ||
| Q1 24 | 3.8% | 0.0% |
| Q4 25 | 8.53× | — | ||
| Q3 25 | 1.99× | — | ||
| Q2 25 | 2.28× | — | ||
| Q1 25 | 3.59× | — | ||
| Q4 24 | 4.77× | — | ||
| Q3 24 | 7.60× | — | ||
| Q2 24 | 1.94× | — | ||
| Q1 24 | 2.46× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DLX
| Services | $247.9M | 46% |
| B2B Payments | $76.3M | 14% |
| Datadrivenmarketingsolutions | $68.5M | 13% |
| Promotional Solutions Revenue | $60.9M | 11% |
| Treasurymanagementsolutions | $59.8M | 11% |
| Other | $17.3M | 3% |
| Other Web Based Solutions | $4.6M | 1% |
PIII
| Capitated Revenue | $366.2M | 95% |
| Health Care Patient Service | $18.6M | 5% |
| Health Care Care Coordination Management Fees | $2.7M | 1% |
