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Side-by-side financial comparison of Essent Group Ltd. (ESNT) 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 $312.4M, roughly 1.2× Essent Group Ltd.). Essent Group Ltd. runs the higher net margin — 49.6% vs -19.6%, a 69.2% gap on every dollar of revenue. On growth, P3 Health Partners Inc. posted the faster year-over-year revenue change (3.8% vs -0.8%). Over the past eight quarters, Essent Group Ltd.'s revenue compounded faster (2.3% CAGR vs -0.5%).
Essentra PLC is a supplier of plastic and fibre products. The company operates internationally from headquarters in Kidlington, Oxfordshire. It is listed on the London Stock Exchange.
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.
ESNT vs PIII — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $312.4M | $384.8M |
| Net Profit | $155.0M | $-75.5M |
| Gross Margin | — | — |
| Operating Margin | 59.1% | -40.0% |
| Net Margin | 49.6% | -19.6% |
| Revenue YoY | -0.8% | 3.8% |
| Net Profit YoY | -7.7% | -28.8% |
| EPS (diluted) | $1.61 | $-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 | $312.4M | $384.8M | ||
| Q3 25 | $311.8M | $345.3M | ||
| Q2 25 | $319.1M | $355.8M | ||
| Q1 25 | $317.6M | $373.2M | ||
| Q4 24 | $315.0M | $370.7M | ||
| Q3 24 | $316.6M | $362.1M | ||
| Q2 24 | $312.9M | $379.2M | ||
| Q1 24 | $298.4M | $388.5M |
| Q4 25 | $155.0M | $-75.5M | ||
| Q3 25 | $164.2M | $-31.6M | ||
| Q2 25 | $195.3M | $-20.4M | ||
| Q1 25 | $175.4M | $-20.5M | ||
| Q4 24 | $167.9M | $-58.6M | ||
| Q3 24 | $176.2M | $-46.5M | ||
| Q2 24 | $203.6M | $-12.0M | ||
| Q1 24 | $181.7M | $-18.7M |
| Q4 25 | 59.1% | -40.0% | ||
| Q3 25 | 63.9% | -12.8% | ||
| Q2 25 | 72.4% | -9.6% | ||
| Q1 25 | 65.2% | -10.2% | ||
| Q4 24 | 61.9% | -37.4% | ||
| Q3 24 | 65.6% | -29.5% | ||
| Q2 24 | 76.4% | -8.3% | ||
| Q1 24 | 71.6% | -11.3% |
| Q4 25 | 49.6% | -19.6% | ||
| Q3 25 | 52.7% | -9.1% | ||
| Q2 25 | 61.2% | -5.7% | ||
| Q1 25 | 55.2% | -5.5% | ||
| Q4 24 | 53.3% | -15.8% | ||
| Q3 24 | 55.6% | -12.8% | ||
| Q2 24 | 65.1% | -3.2% | ||
| Q1 24 | 60.9% | -4.8% |
| Q4 25 | $1.61 | $-23.08 | ||
| Q3 25 | $1.67 | $-9.67 | ||
| Q2 25 | $1.93 | $-6.23 | ||
| Q1 25 | $1.69 | $-6.28 | ||
| Q4 24 | $1.59 | $-23.13 | ||
| Q3 24 | $1.65 | $-15.70 | ||
| Q2 24 | $1.91 | $-7.37 | ||
| Q1 24 | $1.70 | $-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 | — | $25.0M |
| Total DebtLower is stronger | — | $228.4M |
| Stockholders' EquityBook value | $5.8B | $-155.2M |
| Total Assets | $7.4B | $656.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $25.0M | ||
| Q3 25 | — | $37.7M | ||
| Q2 25 | — | $38.6M | ||
| Q1 25 | — | $40.1M | ||
| Q4 24 | — | $38.8M | ||
| Q3 24 | — | $63.0M | ||
| Q2 24 | — | $73.1M | ||
| Q1 24 | — | $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 | $5.8B | $-155.2M | ||
| Q3 25 | $5.7B | $-18.7M | ||
| Q2 25 | $5.7B | $44.5M | ||
| Q1 25 | $5.7B | $63.3M | ||
| Q4 24 | $5.6B | $75.9M | ||
| Q3 24 | $5.6B | $120.5M | ||
| Q2 24 | $5.4B | $166.8M | ||
| Q1 24 | $5.2B | $146.6M |
| Q4 25 | $7.4B | $656.6M | ||
| Q3 25 | $7.4B | $683.6M | ||
| Q2 25 | $7.2B | $731.6M | ||
| Q1 25 | $7.2B | $783.9M | ||
| Q4 24 | $7.1B | $783.4M | ||
| Q3 24 | $7.1B | $833.3M | ||
| Q2 24 | $6.7B | $892.8M | ||
| Q1 24 | $6.6B | $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 | $856.1M | $-25.7M |
| Free Cash FlowOCF − Capex | $848.7M | — |
| FCF MarginFCF / Revenue | 271.7% | — |
| Capex IntensityCapex / Revenue | 2.4% | — |
| Cash ConversionOCF / Net Profit | 5.52× | — |
| TTM Free Cash FlowTrailing 4 quarters | $1.5B | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $856.1M | $-25.7M | ||
| Q3 25 | $215.9M | $-15.4M | ||
| Q2 25 | $189.5M | $-16.6M | ||
| Q1 25 | $221.6M | $-33.5M | ||
| Q4 24 | $861.5M | $-57.2M | ||
| Q3 24 | $229.2M | $-22.6M | ||
| Q2 24 | $188.7M | $-10.2M | ||
| Q1 24 | $216.9M | $-20.0M |
| Q4 25 | $848.7M | — | ||
| Q3 25 | $210.6M | — | ||
| Q2 25 | $188.8M | — | ||
| Q1 25 | $221.3M | — | ||
| Q4 24 | $854.8M | — | ||
| Q3 24 | $228.7M | — | ||
| Q2 24 | $187.6M | — | ||
| Q1 24 | $212.5M | — |
| Q4 25 | 271.7% | — | ||
| Q3 25 | 67.5% | — | ||
| Q2 25 | 59.2% | — | ||
| Q1 25 | 69.7% | — | ||
| Q4 24 | 271.3% | — | ||
| Q3 24 | 72.2% | — | ||
| Q2 24 | 60.0% | — | ||
| Q1 24 | 71.2% | — |
| Q4 25 | 2.4% | — | ||
| Q3 25 | 1.7% | — | ||
| Q2 25 | 0.2% | — | ||
| Q1 25 | 0.1% | — | ||
| Q4 24 | 2.1% | 0.0% | ||
| Q3 24 | 0.2% | 0.0% | ||
| Q2 24 | 0.3% | 0.0% | ||
| Q1 24 | 1.5% | 0.0% |
| Q4 25 | 5.52× | — | ||
| Q3 25 | 1.31× | — | ||
| Q2 25 | 0.97× | — | ||
| Q1 25 | 1.26× | — | ||
| Q4 24 | 5.13× | — | ||
| Q3 24 | 1.30× | — | ||
| Q2 24 | 0.93× | — | ||
| Q1 24 | 1.19× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ESNT
| Mortgage Insurance Segment | $192.4M | 62% |
| Other | $120.0M | 38% |
PIII
| Capitated Revenue | $366.2M | 95% |
| Health Care Patient Service | $18.6M | 5% |
| Health Care Care Coordination Management Fees | $2.7M | 1% |
