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Side-by-side financial comparison of Guardian Pharmacy Services, Inc. (GRDN) 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 $336.6M, roughly 1.1× Guardian Pharmacy Services, Inc.). Guardian Pharmacy Services, Inc. runs the higher net margin — 4.0% vs -19.6%, a 23.6% gap on every dollar of revenue. On growth, P3 Health Partners Inc. posted the faster year-over-year revenue change (3.8% vs 2.2%).
CVS Pharmacy Inc. is an American retail corporation. A subsidiary of CVS Health, it is headquartered in Woonsocket, Rhode Island. Originally named the Consumer Value Stores, it was founded in Lowell, Massachusetts, in 1963.
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.
GRDN vs PIII — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $336.6M | $384.8M |
| Net Profit | $13.5M | $-75.5M |
| Gross Margin | 22.7% | — |
| Operating Margin | 5.3% | -40.0% |
| Net Margin | 4.0% | -19.6% |
| Revenue YoY | 2.2% | 3.8% |
| Net Profit YoY | 46.1% | -28.8% |
| EPS (diluted) | $0.21 | $-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.
| Q1 26 | $336.6M | — | ||
| Q4 25 | $397.6M | $384.8M | ||
| Q3 25 | $377.4M | $345.3M | ||
| Q2 25 | $344.3M | $355.8M | ||
| Q1 25 | $329.3M | $373.2M | ||
| Q4 24 | — | $370.7M | ||
| Q3 24 | $314.4M | $362.1M | ||
| Q2 24 | — | $379.2M |
| Q1 26 | $13.5M | — | ||
| Q4 25 | $20.9M | $-75.5M | ||
| Q3 25 | $9.8M | $-31.6M | ||
| Q2 25 | $9.0M | $-20.4M | ||
| Q1 25 | $9.4M | $-20.5M | ||
| Q4 24 | — | $-58.6M | ||
| Q3 24 | $-122.0M | $-46.5M | ||
| Q2 24 | — | $-12.0M |
| Q1 26 | 22.7% | — | ||
| Q4 25 | 21.5% | — | ||
| Q3 25 | 19.8% | — | ||
| Q2 25 | 19.8% | — | ||
| Q1 25 | 19.5% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 19.4% | — | ||
| Q2 24 | — | — |
| Q1 26 | 5.3% | — | ||
| Q4 25 | 7.7% | -40.0% | ||
| Q3 25 | 4.3% | -12.8% | ||
| Q2 25 | 3.7% | -9.6% | ||
| Q1 25 | 3.9% | -10.2% | ||
| Q4 24 | — | -37.4% | ||
| Q3 24 | -33.3% | -29.5% | ||
| Q2 24 | — | -8.3% |
| Q1 26 | 4.0% | — | ||
| Q4 25 | 5.3% | -19.6% | ||
| Q3 25 | 2.6% | -9.1% | ||
| Q2 25 | 2.6% | -5.7% | ||
| Q1 25 | 2.9% | -5.5% | ||
| Q4 24 | — | -15.8% | ||
| Q3 24 | -38.8% | -12.8% | ||
| Q2 24 | — | -3.2% |
| Q1 26 | $0.21 | — | ||
| Q4 25 | — | $-23.08 | ||
| Q3 25 | — | $-9.67 | ||
| Q2 25 | — | $-6.23 | ||
| Q1 25 | — | $-6.28 | ||
| Q4 24 | — | $-23.13 | ||
| Q3 24 | — | $-15.70 | ||
| Q2 24 | — | $-7.37 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $64.9M | $25.0M |
| Total DebtLower is stronger | — | $228.4M |
| Stockholders' EquityBook value | $232.4M | $-155.2M |
| Total Assets | $426.9M | $656.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $64.9M | — | ||
| Q4 25 | $65.6M | $25.0M | ||
| Q3 25 | $36.5M | $37.7M | ||
| Q2 25 | $18.8M | $38.6M | ||
| Q1 25 | $14.0M | $40.1M | ||
| Q4 24 | — | $38.8M | ||
| Q3 24 | $37.2M | $63.0M | ||
| Q2 24 | — | $73.1M |
| Q1 26 | — | — | ||
| Q4 25 | $0 | $228.4M | ||
| Q3 25 | — | $252.8M | ||
| Q2 25 | — | $182.0M | ||
| Q1 25 | — | $171.1M | ||
| Q4 24 | — | $108.9M | ||
| Q3 24 | $34.3M | $133.2M | ||
| Q2 24 | — | $133.1M |
| Q1 26 | $232.4M | — | ||
| Q4 25 | $217.9M | $-155.2M | ||
| Q3 25 | $195.5M | $-18.7M | ||
| Q2 25 | $179.7M | $44.5M | ||
| Q1 25 | $163.2M | $63.3M | ||
| Q4 24 | — | $75.9M | ||
| Q3 24 | $133.9M | $120.5M | ||
| Q2 24 | — | $166.8M |
| Q1 26 | $426.9M | — | ||
| Q4 25 | $412.7M | $656.6M | ||
| Q3 25 | $390.0M | $683.6M | ||
| Q2 25 | $356.3M | $731.6M | ||
| Q1 25 | $334.0M | $783.9M | ||
| Q4 24 | — | $783.4M | ||
| Q3 24 | $348.0M | $833.3M | ||
| Q2 24 | — | $892.8M |
| Q1 26 | — | — | ||
| Q4 25 | 0.00× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 4.09× | ||
| Q1 25 | — | 2.71× | ||
| Q4 24 | — | 1.43× | ||
| Q3 24 | 0.26× | 1.11× | ||
| Q2 24 | — | 0.80× |
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 | $6.1M | $-25.7M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 0.45× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $6.1M | — | ||
| Q4 25 | $34.6M | $-25.7M | ||
| Q3 25 | $28.2M | $-15.4M | ||
| Q2 25 | $19.9M | $-16.6M | ||
| Q1 25 | $17.6M | $-33.5M | ||
| Q4 24 | — | $-57.2M | ||
| Q3 24 | — | $-22.6M | ||
| Q2 24 | — | $-10.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | $24.2M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 6.4% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 1.1% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.0% | ||
| Q3 24 | — | 0.0% | ||
| Q2 24 | — | 0.0% |
| Q1 26 | 0.45× | — | ||
| Q4 25 | 1.65× | — | ||
| Q3 25 | 2.87× | — | ||
| Q2 25 | 2.21× | — | ||
| Q1 25 | 1.86× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GRDN
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% |
