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Side-by-side financial comparison of FirstCash Holdings, Inc. (FCFS) and P3 Health Partners Inc. (PIII). Click either name above to swap in a different company.
FirstCash Holdings, Inc. is the larger business by last-quarter revenue ($501.3M vs $384.8M, roughly 1.3× P3 Health Partners Inc.). FirstCash Holdings, Inc. runs the higher net margin — 20.8% vs -19.6%, a 40.4% gap on every dollar of revenue. On growth, FirstCash Holdings, Inc. posted the faster year-over-year revenue change (21.2% vs 3.8%). Over the past eight quarters, FirstCash Holdings, Inc.'s revenue compounded faster (16.9% CAGR vs -0.5%).
FirstCash Holdings, Inc. is an American pawnshop company headquartered in Fort Worth, Texas which operates retail pawn stores in the U.S. and Latin America. It is a publicly traded company listed on the Nasdaq 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.
FCFS vs PIII — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $501.3M | $384.8M |
| Net Profit | $104.2M | $-75.5M |
| Gross Margin | — | — |
| Operating Margin | 28.5% | -40.0% |
| Net Margin | 20.8% | -19.6% |
| Revenue YoY | 21.2% | 3.8% |
| Net Profit YoY | 24.7% | -28.8% |
| EPS (diluted) | $2.35 | $-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 | $501.3M | $384.8M | ||
| Q3 25 | $411.0M | $345.3M | ||
| Q2 25 | $385.1M | $355.8M | ||
| Q1 25 | $371.1M | $373.2M | ||
| Q4 24 | $413.7M | $370.7M | ||
| Q3 24 | $363.1M | $362.1M | ||
| Q2 24 | $363.5M | $379.2M | ||
| Q1 24 | $366.8M | $388.5M |
| Q4 25 | $104.2M | $-75.5M | ||
| Q3 25 | $82.8M | $-31.6M | ||
| Q2 25 | $59.8M | $-20.4M | ||
| Q1 25 | $83.6M | $-20.5M | ||
| Q4 24 | $83.5M | $-58.6M | ||
| Q3 24 | $64.8M | $-46.5M | ||
| Q2 24 | $49.1M | $-12.0M | ||
| Q1 24 | $61.4M | $-18.7M |
| Q4 25 | 28.5% | -40.0% | ||
| Q3 25 | 27.4% | -12.8% | ||
| Q2 25 | 21.1% | -9.6% | ||
| Q1 25 | 30.0% | -10.2% | ||
| Q4 24 | 26.5% | -37.4% | ||
| Q3 24 | 23.5% | -29.5% | ||
| Q2 24 | 18.2% | -8.3% | ||
| Q1 24 | 22.3% | -11.3% |
| Q4 25 | 20.8% | -19.6% | ||
| Q3 25 | 20.1% | -9.1% | ||
| Q2 25 | 15.5% | -5.7% | ||
| Q1 25 | 22.5% | -5.5% | ||
| Q4 24 | 20.2% | -15.8% | ||
| Q3 24 | 17.9% | -12.8% | ||
| Q2 24 | 13.5% | -3.2% | ||
| Q1 24 | 16.7% | -4.8% |
| Q4 25 | $2.35 | $-23.08 | ||
| Q3 25 | $1.86 | $-9.67 | ||
| Q2 25 | $1.34 | $-6.23 | ||
| Q1 25 | $1.87 | $-6.28 | ||
| Q4 24 | $1.86 | $-23.13 | ||
| Q3 24 | $1.44 | $-15.70 | ||
| Q2 24 | $1.08 | $-7.37 | ||
| Q1 24 | $1.35 | $-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 | $125.2M | $25.0M |
| Total DebtLower is stronger | $2.2B | $228.4M |
| Stockholders' EquityBook value | $2.3B | $-155.2M |
| Total Assets | $5.3B | $656.6M |
| Debt / EquityLower = less leverage | 0.98× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $125.2M | $25.0M | ||
| Q3 25 | $130.2M | $37.7M | ||
| Q2 25 | $101.5M | $38.6M | ||
| Q1 25 | $146.0M | $40.1M | ||
| Q4 24 | $175.1M | $38.8M | ||
| Q3 24 | $106.3M | $63.0M | ||
| Q2 24 | $113.7M | $73.1M | ||
| Q1 24 | $135.1M | $27.3M |
| Q4 25 | $2.2B | $228.4M | ||
| Q3 25 | $2.2B | $252.8M | ||
| Q2 25 | $1.7B | $182.0M | ||
| Q1 25 | $1.7B | $171.1M | ||
| Q4 24 | $1.7B | $108.9M | ||
| Q3 24 | $1.7B | $133.2M | ||
| Q2 24 | $1.7B | $133.1M | ||
| Q1 24 | $1.5B | $118.1M |
| Q4 25 | $2.3B | $-155.2M | ||
| Q3 25 | $2.2B | $-18.7M | ||
| Q2 25 | $2.1B | $44.5M | ||
| Q1 25 | $2.1B | $63.3M | ||
| Q4 24 | $2.1B | $75.9M | ||
| Q3 24 | $2.0B | $120.5M | ||
| Q2 24 | $2.0B | $166.8M | ||
| Q1 24 | $2.0B | $146.6M |
| Q4 25 | $5.3B | $656.6M | ||
| Q3 25 | $5.2B | $683.6M | ||
| Q2 25 | $4.5B | $731.6M | ||
| Q1 25 | $4.4B | $783.9M | ||
| Q4 24 | $4.5B | $783.4M | ||
| Q3 24 | $4.4B | $833.3M | ||
| Q2 24 | $4.3B | $892.8M | ||
| Q1 24 | $4.2B | $855.9M |
| Q4 25 | 0.98× | — | ||
| Q3 25 | 1.01× | — | ||
| Q2 25 | 0.79× | 4.09× | ||
| Q1 25 | 0.83× | 2.71× | ||
| Q4 24 | 0.85× | 1.43× | ||
| Q3 24 | 0.87× | 1.11× | ||
| Q2 24 | 0.85× | 0.80× | ||
| Q1 24 | 0.75× | 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 | $206.6M | $-25.7M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 1.98× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $206.6M | $-25.7M | ||
| Q3 25 | $135.8M | $-15.4M | ||
| Q2 25 | $116.9M | $-16.6M | ||
| Q1 25 | $126.6M | $-33.5M | ||
| Q4 24 | $198.1M | $-57.2M | ||
| Q3 24 | $113.1M | $-22.6M | ||
| Q2 24 | $106.2M | $-10.2M | ||
| Q1 24 | $122.5M | $-20.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.0% | ||
| Q3 24 | — | 0.0% | ||
| Q2 24 | — | 0.0% | ||
| Q1 24 | — | 0.0% |
| Q4 25 | 1.98× | — | ||
| Q3 25 | 1.64× | — | ||
| Q2 25 | 1.95× | — | ||
| Q1 25 | 1.51× | — | ||
| Q4 24 | 2.37× | — | ||
| Q3 24 | 1.74× | — | ||
| Q2 24 | 2.16× | — | ||
| Q1 24 | 2.00× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FCFS
| US Pawn Segment | $292.2M | 58% |
| Retail POS Payment Solutions | $209.8M | 42% |
PIII
| Capitated Revenue | $366.2M | 95% |
| Health Care Patient Service | $18.6M | 5% |
| Health Care Care Coordination Management Fees | $2.7M | 1% |
