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Side-by-side financial comparison of IDEX Corporation (IEX) and P3 Health Partners Inc. (PIII). Click either name above to swap in a different company.
IDEX Corporation is the larger business by last-quarter revenue ($398.4M vs $384.8M, roughly 1.0× P3 Health Partners Inc.). IDEX Corporation runs the higher net margin — 30.1% vs -19.6%, a 49.7% gap on every dollar of revenue. On growth, IDEX Corporation posted the faster year-over-year revenue change (16.7% vs 3.8%). Over the past eight quarters, P3 Health Partners Inc.'s revenue compounded faster (-0.5% CAGR vs -29.4%).
IDEX can refer to several things, including:International Defence Exhibition, a biennial arms and defense technology sales exhibition IDEX Corporation, a publicly listed company that makes fluidics systems and specialty engineered products Ideanomics, a publicly traded company that trades under the IDEX ticker symbol.
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.
IEX vs PIII — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $398.4M | $384.8M |
| Net Profit | $120.0M | $-75.5M |
| Gross Margin | 99.9% | — |
| Operating Margin | 43.3% | -40.0% |
| Net Margin | 30.1% | -19.6% |
| Revenue YoY | 16.7% | 3.8% |
| Net Profit YoY | 25.7% | -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.
| Q2 26 | $398.4M | — | ||
| Q1 26 | $407.7M | — | ||
| Q4 25 | $899.1M | $384.8M | ||
| Q3 25 | $878.7M | $345.3M | ||
| Q2 25 | $865.4M | $355.8M | ||
| Q1 25 | $814.3M | $373.2M | ||
| Q4 24 | $862.9M | $370.7M | ||
| Q3 24 | $798.2M | $362.1M |
| Q2 26 | $120.0M | — | ||
| Q1 26 | $128.3M | — | ||
| Q4 25 | $128.3M | $-75.5M | ||
| Q3 25 | $127.8M | $-31.6M | ||
| Q2 25 | $131.6M | $-20.4M | ||
| Q1 25 | $95.5M | $-20.5M | ||
| Q4 24 | $123.2M | $-58.6M | ||
| Q3 24 | $119.1M | $-46.5M |
| Q2 26 | 99.9% | — | ||
| Q1 26 | 94.9% | — | ||
| Q4 25 | 43.1% | — | ||
| Q3 25 | 44.5% | — | ||
| Q2 25 | 45.3% | — | ||
| Q1 25 | 45.3% | — | ||
| Q4 24 | 42.5% | — | ||
| Q3 24 | 44.3% | — |
| Q2 26 | 43.3% | — | ||
| Q1 26 | 45.0% | — | ||
| Q4 25 | 20.4% | -40.0% | ||
| Q3 25 | 21.1% | -12.8% | ||
| Q2 25 | 21.7% | -9.6% | ||
| Q1 25 | 17.4% | -10.2% | ||
| Q4 24 | 19.2% | -37.4% | ||
| Q3 24 | 21.0% | -29.5% |
| Q2 26 | 30.1% | — | ||
| Q1 26 | 31.5% | — | ||
| Q4 25 | 14.3% | -19.6% | ||
| Q3 25 | 14.5% | -9.1% | ||
| Q2 25 | 15.2% | -5.7% | ||
| Q1 25 | 11.7% | -5.5% | ||
| Q4 24 | 14.3% | -15.8% | ||
| Q3 24 | 14.9% | -12.8% |
| Q2 26 | $1.61 | — | ||
| Q1 26 | $1.71 | — | ||
| Q4 25 | $1.71 | $-23.08 | ||
| Q3 25 | $1.70 | $-9.67 | ||
| Q2 25 | $1.74 | $-6.23 | ||
| Q1 25 | $1.26 | $-6.28 | ||
| Q4 24 | $1.61 | $-23.13 | ||
| Q3 24 | $1.57 | $-15.70 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $586.2M | $25.0M |
| Total DebtLower is stronger | — | $228.4M |
| Stockholders' EquityBook value | $4.0B | $-155.2M |
| Total Assets | $6.9B | $656.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q2 26 | $586.2M | — | ||
| Q1 26 | $580.0M | — | ||
| Q4 25 | $580.0M | $25.0M | ||
| Q3 25 | $593.8M | $37.7M | ||
| Q2 25 | $568.2M | $38.6M | ||
| Q1 25 | $594.1M | $40.1M | ||
| Q4 24 | $620.8M | $38.8M | ||
| Q3 24 | $633.2M | $63.0M |
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | $1.8B | $228.4M | ||
| Q3 25 | $1.9B | $252.8M | ||
| Q2 25 | $1.9B | $182.0M | ||
| Q1 25 | $2.0B | $171.1M | ||
| Q4 24 | $2.0B | $108.9M | ||
| Q3 24 | $2.1B | $133.2M |
| Q2 26 | $4.0B | — | ||
| Q1 26 | $4.0B | — | ||
| Q4 25 | $4.0B | $-155.2M | ||
| Q3 25 | $4.0B | $-18.7M | ||
| Q2 25 | $4.0B | $44.5M | ||
| Q1 25 | $3.9B | $63.3M | ||
| Q4 24 | $3.8B | $75.9M | ||
| Q3 24 | $3.8B | $120.5M |
| Q2 26 | $6.9B | — | ||
| Q1 26 | $6.9B | — | ||
| Q4 25 | $6.9B | $656.6M | ||
| Q3 25 | $7.0B | $683.6M | ||
| Q2 25 | $6.9B | $731.6M | ||
| Q1 25 | $6.8B | $783.9M | ||
| Q4 24 | $6.7B | $783.4M | ||
| Q3 24 | $7.0B | $833.3M |
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | 0.45× | — | ||
| Q3 25 | 0.48× | — | ||
| Q2 25 | 0.46× | 4.09× | ||
| Q1 25 | 0.50× | 2.71× | ||
| Q4 24 | 0.52× | 1.43× | ||
| Q3 24 | 0.55× | 1.11× |
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 | — | $-25.7M |
| Free Cash FlowOCF − Capex | $86.0M | — |
| FCF MarginFCF / Revenue | 21.6% | — |
| Capex IntensityCapex / Revenue | 4.4% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $654.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | $209.5M | $-25.7M | ||
| Q3 25 | $203.5M | $-15.4M | ||
| Q2 25 | $161.7M | $-16.6M | ||
| Q1 25 | $105.7M | $-33.5M | ||
| Q4 24 | $172.6M | $-57.2M | ||
| Q3 24 | $205.3M | $-22.6M |
| Q2 26 | $86.0M | — | ||
| Q1 26 | $189.8M | — | ||
| Q4 25 | $189.8M | — | ||
| Q3 25 | $188.7M | — | ||
| Q2 25 | $146.9M | — | ||
| Q1 25 | $91.4M | — | ||
| Q4 24 | $157.1M | — | ||
| Q3 24 | $191.6M | — |
| Q2 26 | 21.6% | — | ||
| Q1 26 | 46.6% | — | ||
| Q4 25 | 21.1% | — | ||
| Q3 25 | 21.5% | — | ||
| Q2 25 | 17.0% | — | ||
| Q1 25 | 11.2% | — | ||
| Q4 24 | 18.2% | — | ||
| Q3 24 | 24.0% | — |
| Q2 26 | 4.4% | — | ||
| Q1 26 | 15.6% | — | ||
| Q4 25 | 2.2% | — | ||
| Q3 25 | 1.7% | — | ||
| Q2 25 | 1.7% | — | ||
| Q1 25 | 1.8% | — | ||
| Q4 24 | 1.8% | 0.0% | ||
| Q3 24 | 1.7% | 0.0% |
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | 1.63× | — | ||
| Q3 25 | 1.59× | — | ||
| Q2 25 | 1.23× | — | ||
| Q1 25 | 1.11× | — | ||
| Q4 24 | 1.40× | — | ||
| Q3 24 | 1.72× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IEX
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% |
