vs
Side-by-side financial comparison of Forestar Group Inc. (FOR) 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 $273.0M, roughly 1.4× Forestar Group Inc.). Forestar Group Inc. runs the higher net margin — 5.6% vs -19.6%, a 25.3% gap on every dollar of revenue. On growth, Forestar Group Inc. posted the faster year-over-year revenue change (9.0% vs 3.8%). Over the past eight quarters, P3 Health Partners Inc.'s revenue compounded faster (-0.5% CAGR vs -9.6%).
Forestar Group Inc. is a residential lot development company based in Arlington, Texas. The company has operations in 51 markets in 21 states and delivered 11,518 residential lots during the twelve-month period ended December 31, 2020. The company is publicly traded on the New York Stock Exchange and in October 2017 became a majority-owned subsidiary of D.R. Horton, Inc., the largest homebuilder by volume in the United States since 2002. The company primarily acquires entitled real estate and...
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.
FOR vs PIII — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $273.0M | $384.8M |
| Net Profit | $15.4M | $-75.5M |
| Gross Margin | 20.1% | — |
| Operating Margin | 7.6% | -40.0% |
| Net Margin | 5.6% | -19.6% |
| Revenue YoY | 9.0% | 3.8% |
| Net Profit YoY | -6.7% | -28.8% |
| EPS (diluted) | $0.30 | $-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 | $273.0M | $384.8M | ||
| Q3 25 | $670.5M | $345.3M | ||
| Q2 25 | $390.5M | $355.8M | ||
| Q1 25 | $351.0M | $373.2M | ||
| Q4 24 | $250.4M | $370.7M | ||
| Q3 24 | $551.3M | $362.1M | ||
| Q2 24 | $318.4M | $379.2M | ||
| Q1 24 | $333.8M | $388.5M |
| Q4 25 | $15.4M | $-75.5M | ||
| Q3 25 | $86.9M | $-31.6M | ||
| Q2 25 | $32.9M | $-20.4M | ||
| Q1 25 | $31.6M | $-20.5M | ||
| Q4 24 | $16.5M | $-58.6M | ||
| Q3 24 | $81.5M | $-46.5M | ||
| Q2 24 | $38.7M | $-12.0M | ||
| Q1 24 | $45.0M | $-18.7M |
| Q4 25 | 20.1% | — | ||
| Q3 25 | 22.3% | — | ||
| Q2 25 | 20.4% | — | ||
| Q1 25 | 22.6% | — | ||
| Q4 24 | 22.0% | — | ||
| Q3 24 | 23.9% | — | ||
| Q2 24 | 22.5% | — | ||
| Q1 24 | 24.9% | — |
| Q4 25 | 7.6% | -40.0% | ||
| Q3 25 | 16.9% | -12.8% | ||
| Q2 25 | 11.2% | -9.6% | ||
| Q1 25 | 11.6% | -10.2% | ||
| Q4 24 | 8.7% | -37.4% | ||
| Q3 24 | 19.7% | -29.5% | ||
| Q2 24 | 16.2% | -8.3% | ||
| Q1 24 | 17.6% | -11.3% |
| Q4 25 | 5.6% | -19.6% | ||
| Q3 25 | 13.0% | -9.1% | ||
| Q2 25 | 8.4% | -5.7% | ||
| Q1 25 | 9.0% | -5.5% | ||
| Q4 24 | 6.6% | -15.8% | ||
| Q3 24 | 14.8% | -12.8% | ||
| Q2 24 | 12.2% | -3.2% | ||
| Q1 24 | 13.5% | -4.8% |
| Q4 25 | $0.30 | $-23.08 | ||
| Q3 25 | $1.70 | $-9.67 | ||
| Q2 25 | $0.65 | $-6.23 | ||
| Q1 25 | $0.62 | $-6.28 | ||
| Q4 24 | $0.32 | $-23.13 | ||
| Q3 24 | $1.59 | $-15.70 | ||
| Q2 24 | $0.76 | $-7.37 | ||
| Q1 24 | $0.89 | $-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 | $211.7M | $25.0M |
| Total DebtLower is stronger | $793.2M | $228.4M |
| Stockholders' EquityBook value | $1.8B | $-155.2M |
| Total Assets | $3.2B | $656.6M |
| Debt / EquityLower = less leverage | 0.44× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $211.7M | $25.0M | ||
| Q3 25 | $379.2M | $37.7M | ||
| Q2 25 | $189.2M | $38.6M | ||
| Q1 25 | $174.3M | $40.1M | ||
| Q4 24 | $132.0M | $38.8M | ||
| Q3 24 | $481.2M | $63.0M | ||
| Q2 24 | $359.2M | $73.1M | ||
| Q1 24 | $416.2M | $27.3M |
| Q4 25 | $793.2M | $228.4M | ||
| Q3 25 | $802.7M | $252.8M | ||
| Q2 25 | $872.8M | $182.0M | ||
| Q1 25 | $872.5M | $171.1M | ||
| Q4 24 | $806.8M | $108.9M | ||
| Q3 24 | $706.4M | $133.2M | ||
| Q2 24 | $706.1M | $133.1M | ||
| Q1 24 | $705.7M | $118.1M |
| Q4 25 | $1.8B | $-155.2M | ||
| Q3 25 | $1.8B | $-18.7M | ||
| Q2 25 | $1.7B | $44.5M | ||
| Q1 25 | $1.6B | $63.3M | ||
| Q4 24 | $1.6B | $75.9M | ||
| Q3 24 | $1.6B | $120.5M | ||
| Q2 24 | $1.5B | $166.8M | ||
| Q1 24 | $1.5B | $146.6M |
| Q4 25 | $3.2B | $656.6M | ||
| Q3 25 | $3.1B | $683.6M | ||
| Q2 25 | $3.1B | $731.6M | ||
| Q1 25 | $3.0B | $783.9M | ||
| Q4 24 | $3.0B | $783.4M | ||
| Q3 24 | $2.8B | $833.3M | ||
| Q2 24 | $2.7B | $892.8M | ||
| Q1 24 | $2.6B | $855.9M |
| Q4 25 | 0.44× | — | ||
| Q3 25 | 0.45× | — | ||
| Q2 25 | 0.52× | 4.09× | ||
| Q1 25 | 0.53× | 2.71× | ||
| Q4 24 | 0.50× | 1.43× | ||
| Q3 24 | 0.44× | 1.11× | ||
| Q2 24 | 0.47× | 0.80× | ||
| Q1 24 | 0.48× | 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 | $-157.0M | $-25.7M |
| Free Cash FlowOCF − Capex | $-157.1M | — |
| FCF MarginFCF / Revenue | -57.5% | — |
| Capex IntensityCapex / Revenue | 0.0% | — |
| Cash ConversionOCF / Net Profit | -10.19× | — |
| TTM Free Cash FlowTrailing 4 quarters | $93.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-157.0M | $-25.7M | ||
| Q3 25 | $256.3M | $-15.4M | ||
| Q2 25 | $15.8M | $-16.6M | ||
| Q1 25 | $-19.8M | $-33.5M | ||
| Q4 24 | $-450.0M | $-57.2M | ||
| Q3 24 | $119.2M | $-22.6M | ||
| Q2 24 | $-61.7M | $-10.2M | ||
| Q1 24 | $-59.2M | $-20.0M |
| Q4 25 | $-157.1M | — | ||
| Q3 25 | $255.6M | — | ||
| Q2 25 | $15.0M | — | ||
| Q1 25 | $-20.5M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $118.4M | — | ||
| Q2 24 | $-62.3M | — | ||
| Q1 24 | $-59.8M | — |
| Q4 25 | -57.5% | — | ||
| Q3 25 | 38.1% | — | ||
| Q2 25 | 3.8% | — | ||
| Q1 25 | -5.8% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 21.5% | — | ||
| Q2 24 | -19.6% | — | ||
| Q1 24 | -17.9% | — |
| Q4 25 | 0.0% | — | ||
| Q3 25 | 0.1% | — | ||
| Q2 25 | 0.2% | — | ||
| Q1 25 | 0.2% | — | ||
| Q4 24 | 0.0% | 0.0% | ||
| Q3 24 | 0.1% | 0.0% | ||
| Q2 24 | 0.2% | 0.0% | ||
| Q1 24 | 0.2% | 0.0% |
| Q4 25 | -10.19× | — | ||
| Q3 25 | 2.95× | — | ||
| Q2 25 | 0.48× | — | ||
| Q1 25 | -0.63× | — | ||
| Q4 24 | -27.27× | — | ||
| Q3 24 | 1.46× | — | ||
| Q2 24 | -1.59× | — | ||
| Q1 24 | -1.32× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FOR
| D.R.Horton Inc. | $183.8M | 67% |
| Other | $89.2M | 33% |
PIII
| Capitated Revenue | $366.2M | 95% |
| Health Care Patient Service | $18.6M | 5% |
| Health Care Care Coordination Management Fees | $2.7M | 1% |
