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Side-by-side financial comparison of Dynatrace, Inc. (DT) and P3 Health Partners Inc. (PIII). Click either name above to swap in a different company.
Dynatrace, Inc. is the larger business by last-quarter revenue ($515.5M vs $384.8M, roughly 1.3× P3 Health Partners Inc.). Dynatrace, Inc. runs the higher net margin — 7.8% vs -19.6%, a 27.4% gap on every dollar of revenue. On growth, Dynatrace, Inc. posted the faster year-over-year revenue change (18.2% vs 3.8%). Over the past eight quarters, Dynatrace, Inc.'s revenue compounded faster (16.3% CAGR vs -0.5%).
Dynatrace, Inc. is an American multinational technology company that provides an AI-powered observability platform. Their software is used to monitor, analyze, and optimize application performance, software development, cyber security practices, IT infrastructure, and user experience.
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.
DT vs PIII — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $515.5M | $384.8M |
| Net Profit | $40.1M | $-75.5M |
| Gross Margin | 81.4% | — |
| Operating Margin | 14.1% | -40.0% |
| Net Margin | 7.8% | -19.6% |
| Revenue YoY | 18.2% | 3.8% |
| Net Profit YoY | -88.9% | -28.8% |
| EPS (diluted) | $0.13 | $-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 | $515.5M | $384.8M | ||
| Q3 25 | $493.8M | $345.3M | ||
| Q2 25 | $477.3M | $355.8M | ||
| Q1 25 | $445.2M | $373.2M | ||
| Q4 24 | $436.2M | $370.7M | ||
| Q3 24 | $418.1M | $362.1M | ||
| Q2 24 | $399.2M | $379.2M | ||
| Q1 24 | $380.8M | $388.5M |
| Q4 25 | $40.1M | $-75.5M | ||
| Q3 25 | $57.2M | $-31.6M | ||
| Q2 25 | $48.0M | $-20.4M | ||
| Q1 25 | $39.3M | $-20.5M | ||
| Q4 24 | $361.8M | $-58.6M | ||
| Q3 24 | $44.0M | $-46.5M | ||
| Q2 24 | $38.6M | $-12.0M | ||
| Q1 24 | $37.9M | $-18.7M |
| Q4 25 | 81.4% | — | ||
| Q3 25 | 81.8% | — | ||
| Q2 25 | 82.1% | — | ||
| Q1 25 | 80.9% | — | ||
| Q4 24 | 81.1% | — | ||
| Q3 24 | 81.4% | — | ||
| Q2 24 | 81.3% | — | ||
| Q1 24 | 81.1% | — |
| Q4 25 | 14.1% | -40.0% | ||
| Q3 25 | 14.8% | -12.8% | ||
| Q2 25 | 13.1% | -9.6% | ||
| Q1 25 | 9.6% | -10.2% | ||
| Q4 24 | 10.9% | -37.4% | ||
| Q3 24 | 11.2% | -29.5% | ||
| Q2 24 | 10.5% | -8.3% | ||
| Q1 24 | 6.1% | -11.3% |
| Q4 25 | 7.8% | -19.6% | ||
| Q3 25 | 11.6% | -9.1% | ||
| Q2 25 | 10.0% | -5.7% | ||
| Q1 25 | 8.8% | -5.5% | ||
| Q4 24 | 82.9% | -15.8% | ||
| Q3 24 | 10.5% | -12.8% | ||
| Q2 24 | 9.7% | -3.2% | ||
| Q1 24 | 10.0% | -4.8% |
| Q4 25 | $0.13 | $-23.08 | ||
| Q3 25 | $0.19 | $-9.67 | ||
| Q2 25 | $0.16 | $-6.23 | ||
| Q1 25 | $0.12 | $-6.28 | ||
| Q4 24 | $1.19 | $-23.13 | ||
| Q3 24 | $0.15 | $-15.70 | ||
| Q2 24 | $0.13 | $-7.37 | ||
| Q1 24 | $0.13 | $-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 | $1.2B | $25.0M |
| Total DebtLower is stronger | — | $228.4M |
| Stockholders' EquityBook value | $2.7B | $-155.2M |
| Total Assets | $4.1B | $656.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.2B | $25.0M | ||
| Q3 25 | $1.3B | $37.7M | ||
| Q2 25 | $1.3B | $38.6M | ||
| Q1 25 | $1.1B | $40.1M | ||
| Q4 24 | $1.0B | $38.8M | ||
| Q3 24 | $1.0B | $63.0M | ||
| Q2 24 | $1.0B | $73.1M | ||
| Q1 24 | $836.9M | $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 | $2.7B | $-155.2M | ||
| Q3 25 | $2.8B | $-18.7M | ||
| Q2 25 | $2.7B | $44.5M | ||
| Q1 25 | $2.6B | $63.3M | ||
| Q4 24 | $2.6B | $75.9M | ||
| Q3 24 | $2.1B | $120.5M | ||
| Q2 24 | $2.1B | $166.8M | ||
| Q1 24 | $2.0B | $146.6M |
| Q4 25 | $4.1B | $656.6M | ||
| Q3 25 | $4.1B | $683.6M | ||
| Q2 25 | $4.1B | $731.6M | ||
| Q1 25 | $4.1B | $783.9M | ||
| Q4 24 | $3.7B | $783.4M | ||
| Q3 24 | $3.3B | $833.3M | ||
| Q2 24 | $3.3B | $892.8M | ||
| Q1 24 | $3.4B | $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 | $33.8M | $-25.7M |
| Free Cash FlowOCF − Capex | $27.2M | — |
| FCF MarginFCF / Revenue | 5.3% | — |
| Capex IntensityCapex / Revenue | 1.3% | — |
| Cash ConversionOCF / Net Profit | 0.84× | — |
| TTM Free Cash FlowTrailing 4 quarters | $465.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $33.8M | $-25.7M | ||
| Q3 25 | $32.0M | $-15.4M | ||
| Q2 25 | $269.7M | $-16.6M | ||
| Q1 25 | $162.8M | $-33.5M | ||
| Q4 24 | $42.2M | $-57.2M | ||
| Q3 24 | $23.6M | $-22.6M | ||
| Q2 24 | $230.7M | $-10.2M | ||
| Q1 24 | $131.7M | $-20.0M |
| Q4 25 | $27.2M | — | ||
| Q3 25 | $27.8M | — | ||
| Q2 25 | $262.2M | — | ||
| Q1 25 | $148.2M | — | ||
| Q4 24 | $37.6M | — | ||
| Q3 24 | $20.1M | — | ||
| Q2 24 | $227.4M | — | ||
| Q1 24 | $121.9M | — |
| Q4 25 | 5.3% | — | ||
| Q3 25 | 5.6% | — | ||
| Q2 25 | 54.9% | — | ||
| Q1 25 | 33.3% | — | ||
| Q4 24 | 8.6% | — | ||
| Q3 24 | 4.8% | — | ||
| Q2 24 | 57.0% | — | ||
| Q1 24 | 32.0% | — |
| Q4 25 | 1.3% | — | ||
| Q3 25 | 0.8% | — | ||
| Q2 25 | 1.6% | — | ||
| Q1 25 | 3.3% | — | ||
| Q4 24 | 1.1% | 0.0% | ||
| Q3 24 | 0.8% | 0.0% | ||
| Q2 24 | 0.8% | 0.0% | ||
| Q1 24 | 2.6% | 0.0% |
| Q4 25 | 0.84× | — | ||
| Q3 25 | 0.56× | — | ||
| Q2 25 | 5.62× | — | ||
| Q1 25 | 4.14× | — | ||
| Q4 24 | 0.12× | — | ||
| Q3 24 | 0.54× | — | ||
| Q2 24 | 5.97× | — | ||
| Q1 24 | 3.47× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DT
| Subscription And Circulation | $493.4M | 96% |
| Services | $22.1M | 4% |
PIII
| Capitated Revenue | $366.2M | 95% |
| Health Care Patient Service | $18.6M | 5% |
| Health Care Care Coordination Management Fees | $2.7M | 1% |
