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Side-by-side financial comparison of Great Lakes Dredge & Dock CORP (GLDD) 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 $256.5M, roughly 1.5× Great Lakes Dredge & Dock CORP). Great Lakes Dredge & Dock CORP runs the higher net margin — 4.9% vs -19.6%, a 24.6% gap on every dollar of revenue. On growth, Great Lakes Dredge & Dock CORP posted the faster year-over-year revenue change (26.5% vs 3.8%). Over the past eight quarters, Great Lakes Dredge & Dock CORP's revenue compounded faster (13.6% CAGR vs -0.5%).
Great Lakes Dredge and Dock Company is an American company providing construction services in dredging and land reclamation, currently the largest such provider in the United States. GLD&D operates primarily in the United States but conducts one-quarter of its business overseas. The company was based in Oak Brook, Illinois, but in October 2020 relocated its corporate headquarters to Houston, Texas.
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.
GLDD vs PIII — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $256.5M | $384.8M |
| Net Profit | $12.6M | $-75.5M |
| Gross Margin | 20.9% | — |
| Operating Margin | 12.7% | -40.0% |
| Net Margin | 4.9% | -19.6% |
| Revenue YoY | 26.5% | 3.8% |
| Net Profit YoY | -35.9% | -28.8% |
| EPS (diluted) | $0.19 | $-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 | $256.5M | $384.8M | ||
| Q3 25 | $195.2M | $345.3M | ||
| Q2 25 | $193.8M | $355.8M | ||
| Q1 25 | $242.9M | $373.2M | ||
| Q4 24 | $202.8M | $370.7M | ||
| Q3 24 | $191.2M | $362.1M | ||
| Q2 24 | $170.1M | $379.2M | ||
| Q1 24 | $198.7M | $388.5M |
| Q4 25 | $12.6M | $-75.5M | ||
| Q3 25 | $17.7M | $-31.6M | ||
| Q2 25 | $9.7M | $-20.4M | ||
| Q1 25 | $33.4M | $-20.5M | ||
| Q4 24 | $19.7M | $-58.6M | ||
| Q3 24 | $8.9M | $-46.5M | ||
| Q2 24 | $7.7M | $-12.0M | ||
| Q1 24 | $21.0M | $-18.7M |
| Q4 25 | 20.9% | — | ||
| Q3 25 | 22.4% | — | ||
| Q2 25 | 18.9% | — | ||
| Q1 25 | 28.6% | — | ||
| Q4 24 | 24.1% | — | ||
| Q3 24 | 19.0% | — | ||
| Q2 24 | 17.5% | — | ||
| Q1 24 | 22.9% | — |
| Q4 25 | 12.7% | -40.0% | ||
| Q3 25 | 14.4% | -12.8% | ||
| Q2 25 | 8.8% | -9.6% | ||
| Q1 25 | 20.6% | -10.2% | ||
| Q4 24 | 14.8% | -37.4% | ||
| Q3 24 | 8.7% | -29.5% | ||
| Q2 24 | 8.6% | -8.3% | ||
| Q1 24 | 15.8% | -11.3% |
| Q4 25 | 4.9% | -19.6% | ||
| Q3 25 | 9.1% | -9.1% | ||
| Q2 25 | 5.0% | -5.7% | ||
| Q1 25 | 13.8% | -5.5% | ||
| Q4 24 | 9.7% | -15.8% | ||
| Q3 24 | 4.6% | -12.8% | ||
| Q2 24 | 4.5% | -3.2% | ||
| Q1 24 | 10.6% | -4.8% |
| Q4 25 | $0.19 | $-23.08 | ||
| Q3 25 | $0.26 | $-9.67 | ||
| Q2 25 | $0.14 | $-6.23 | ||
| Q1 25 | $0.49 | $-6.28 | ||
| Q4 24 | $0.29 | $-23.13 | ||
| Q3 24 | $0.13 | $-15.70 | ||
| Q2 24 | $0.11 | $-7.37 | ||
| Q1 24 | $0.31 | $-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 | $13.4M | $25.0M |
| Total DebtLower is stronger | $378.2M | $228.4M |
| Stockholders' EquityBook value | $517.1M | $-155.2M |
| Total Assets | $1.3B | $656.6M |
| Debt / EquityLower = less leverage | 0.73× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $13.4M | $25.0M | ||
| Q3 25 | $12.7M | $37.7M | ||
| Q2 25 | $2.9M | $38.6M | ||
| Q1 25 | $11.3M | $40.1M | ||
| Q4 24 | $10.2M | $38.8M | ||
| Q3 24 | $12.0M | $63.0M | ||
| Q2 24 | $23.1M | $73.1M | ||
| Q1 24 | $22.8M | $27.3M |
| Q4 25 | $378.2M | $228.4M | ||
| Q3 25 | — | $252.8M | ||
| Q2 25 | — | $182.0M | ||
| Q1 25 | — | $171.1M | ||
| Q4 24 | $448.2M | $108.9M | ||
| Q3 24 | — | $133.2M | ||
| Q2 24 | — | $133.1M | ||
| Q1 24 | — | $118.1M |
| Q4 25 | $517.1M | $-155.2M | ||
| Q3 25 | $502.1M | $-18.7M | ||
| Q2 25 | $481.9M | $44.5M | ||
| Q1 25 | $479.9M | $63.3M | ||
| Q4 24 | $448.9M | $75.9M | ||
| Q3 24 | $425.4M | $120.5M | ||
| Q2 24 | $418.0M | $166.8M | ||
| Q1 24 | $409.0M | $146.6M |
| Q4 25 | $1.3B | $656.6M | ||
| Q3 25 | $1.3B | $683.6M | ||
| Q2 25 | $1.2B | $731.6M | ||
| Q1 25 | $1.2B | $783.9M | ||
| Q4 24 | $1.3B | $783.4M | ||
| Q3 24 | $1.1B | $833.3M | ||
| Q2 24 | $1.1B | $892.8M | ||
| Q1 24 | $1.1B | $855.9M |
| Q4 25 | 0.73× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 4.09× | ||
| Q1 25 | — | 2.71× | ||
| Q4 24 | 1.00× | 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 | $79.7M | $-25.7M |
| Free Cash FlowOCF − Capex | $50.3M | — |
| FCF MarginFCF / Revenue | 19.6% | — |
| Capex IntensityCapex / Revenue | 11.5% | — |
| Cash ConversionOCF / Net Profit | 6.31× | — |
| TTM Free Cash FlowTrailing 4 quarters | $99.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $79.7M | $-25.7M | ||
| Q3 25 | $49.2M | $-15.4M | ||
| Q2 25 | $56.9M | $-16.6M | ||
| Q1 25 | $60.9M | $-33.5M | ||
| Q4 24 | $-13.5M | $-57.2M | ||
| Q3 24 | $26.8M | $-22.6M | ||
| Q2 24 | $18.4M | $-10.2M | ||
| Q1 24 | $38.4M | $-20.0M |
| Q4 25 | $50.3M | — | ||
| Q3 25 | $13.2M | — | ||
| Q2 25 | $-3.7M | — | ||
| Q1 25 | $39.6M | — | ||
| Q4 24 | $-36.1M | — | ||
| Q3 24 | $-11.5M | — | ||
| Q2 24 | $-34.0M | — | ||
| Q1 24 | $26.5M | — |
| Q4 25 | 19.6% | — | ||
| Q3 25 | 6.8% | — | ||
| Q2 25 | -1.9% | — | ||
| Q1 25 | 16.3% | — | ||
| Q4 24 | -17.8% | — | ||
| Q3 24 | -6.0% | — | ||
| Q2 24 | -20.0% | — | ||
| Q1 24 | 13.4% | — |
| Q4 25 | 11.5% | — | ||
| Q3 25 | 18.4% | — | ||
| Q2 25 | 31.3% | — | ||
| Q1 25 | 8.7% | — | ||
| Q4 24 | 11.2% | 0.0% | ||
| Q3 24 | 20.0% | 0.0% | ||
| Q2 24 | 30.8% | 0.0% | ||
| Q1 24 | 6.0% | 0.0% |
| Q4 25 | 6.31× | — | ||
| Q3 25 | 2.77× | — | ||
| Q2 25 | 5.87× | — | ||
| Q1 25 | 1.82× | — | ||
| Q4 24 | -0.69× | — | ||
| Q3 24 | 3.02× | — | ||
| Q2 24 | 2.39× | — | ||
| Q1 24 | 1.83× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GLDD
Segment breakdown not available.
PIII
| Capitated Revenue | $366.2M | 95% |
| Health Care Patient Service | $18.6M | 5% |
| Health Care Care Coordination Management Fees | $2.7M | 1% |
