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Side-by-side financial comparison of Koppers Holdings Inc. (KOP) and P3 Health Partners Inc. (PIII). Click either name above to swap in a different company.
Koppers Holdings Inc. is the larger business by last-quarter revenue ($432.7M vs $384.8M, roughly 1.1× P3 Health Partners Inc.). Koppers Holdings Inc. runs the higher net margin — 6.9% vs -19.6%, a 26.5% gap on every dollar of revenue. On growth, P3 Health Partners Inc. posted the faster year-over-year revenue change (3.8% vs -9.3%). Over the past eight quarters, P3 Health Partners Inc.'s revenue compounded faster (-0.5% CAGR vs -6.7%).
Koppers is a global chemical and materials company based in Pittsburgh, Pennsylvania, United States. Its headquarters is an art-deco 1920s skyscraper, the Koppers Tower.
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.
KOP vs PIII — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $432.7M | $384.8M |
| Net Profit | $29.7M | $-75.5M |
| Gross Margin | 25.6% | — |
| Operating Margin | 11.5% | -40.0% |
| Net Margin | 6.9% | -19.6% |
| Revenue YoY | -9.3% | 3.8% |
| Net Profit YoY | 391.2% | -28.8% |
| EPS (diluted) | $1.44 | $-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 | $432.7M | $384.8M | ||
| Q3 25 | $485.3M | $345.3M | ||
| Q2 25 | $504.8M | $355.8M | ||
| Q1 25 | $456.5M | $373.2M | ||
| Q4 24 | $477.0M | $370.7M | ||
| Q3 24 | $554.3M | $362.1M | ||
| Q2 24 | $563.2M | $379.2M | ||
| Q1 24 | $497.6M | $388.5M |
| Q4 25 | $29.7M | $-75.5M | ||
| Q3 25 | $23.8M | $-31.6M | ||
| Q2 25 | $16.4M | $-20.4M | ||
| Q1 25 | $-13.9M | $-20.5M | ||
| Q4 24 | $-10.2M | $-58.6M | ||
| Q3 24 | $22.8M | $-46.5M | ||
| Q2 24 | $26.8M | $-12.0M | ||
| Q1 24 | $13.0M | $-18.7M |
| Q4 25 | 25.6% | — | ||
| Q3 25 | 24.1% | — | ||
| Q2 25 | 22.6% | — | ||
| Q1 25 | 23.2% | — | ||
| Q4 24 | 17.5% | — | ||
| Q3 24 | 21.9% | — | ||
| Q2 24 | 21.6% | — | ||
| Q1 24 | 19.3% | — |
| Q4 25 | 11.5% | -40.0% | ||
| Q3 25 | 10.7% | -12.8% | ||
| Q2 25 | 7.7% | -9.6% | ||
| Q1 25 | 5.9% | -10.2% | ||
| Q4 24 | 1.3% | -37.4% | ||
| Q3 24 | 9.0% | -29.5% | ||
| Q2 24 | 10.2% | -8.3% | ||
| Q1 24 | 7.0% | -11.3% |
| Q4 25 | 6.9% | -19.6% | ||
| Q3 25 | 4.9% | -9.1% | ||
| Q2 25 | 3.2% | -5.7% | ||
| Q1 25 | -3.0% | -5.5% | ||
| Q4 24 | -2.1% | -15.8% | ||
| Q3 24 | 4.1% | -12.8% | ||
| Q2 24 | 4.8% | -3.2% | ||
| Q1 24 | 2.6% | -4.8% |
| Q4 25 | $1.44 | $-23.08 | ||
| Q3 25 | $1.17 | $-9.67 | ||
| Q2 25 | $0.81 | $-6.23 | ||
| Q1 25 | $-0.68 | $-6.28 | ||
| Q4 24 | $-0.47 | $-23.13 | ||
| Q3 24 | $1.09 | $-15.70 | ||
| Q2 24 | $1.25 | $-7.37 | ||
| Q1 24 | $0.59 | $-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 | — | $25.0M |
| Total DebtLower is stronger | $928.3M | $228.4M |
| Stockholders' EquityBook value | $574.0M | $-155.2M |
| Total Assets | $1.9B | $656.6M |
| Debt / EquityLower = less leverage | 1.62× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $25.0M | ||
| Q3 25 | — | $37.7M | ||
| Q2 25 | — | $38.6M | ||
| Q1 25 | — | $40.1M | ||
| Q4 24 | — | $38.8M | ||
| Q3 24 | — | $63.0M | ||
| Q2 24 | — | $73.1M | ||
| Q1 24 | — | $27.3M |
| Q4 25 | $928.3M | $228.4M | ||
| Q3 25 | $932.9M | $252.8M | ||
| Q2 25 | $977.5M | $182.0M | ||
| Q1 25 | $989.0M | $171.1M | ||
| Q4 24 | $939.5M | $108.9M | ||
| Q3 24 | $989.4M | $133.2M | ||
| Q2 24 | $1.0B | $133.1M | ||
| Q1 24 | $877.6M | $118.1M |
| Q4 25 | $574.0M | $-155.2M | ||
| Q3 25 | $545.6M | $-18.7M | ||
| Q2 25 | $526.8M | $44.5M | ||
| Q1 25 | $498.0M | $63.3M | ||
| Q4 24 | $488.7M | $75.9M | ||
| Q3 24 | $532.3M | $120.5M | ||
| Q2 24 | $509.2M | $166.8M | ||
| Q1 24 | $505.8M | $146.6M |
| Q4 25 | $1.9B | $656.6M | ||
| Q3 25 | $1.9B | $683.6M | ||
| Q2 25 | $1.9B | $731.6M | ||
| Q1 25 | $1.9B | $783.9M | ||
| Q4 24 | $1.9B | $783.4M | ||
| Q3 24 | $2.0B | $833.3M | ||
| Q2 24 | $1.9B | $892.8M | ||
| Q1 24 | $1.8B | $855.9M |
| Q4 25 | 1.62× | — | ||
| Q3 25 | 1.71× | — | ||
| Q2 25 | 1.86× | 4.09× | ||
| Q1 25 | 1.99× | 2.71× | ||
| Q4 24 | 1.92× | 1.43× | ||
| Q3 24 | 1.86× | 1.11× | ||
| Q2 24 | 1.97× | 0.80× | ||
| Q1 24 | 1.74× | 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 | $45.1M | $-25.7M |
| Free Cash FlowOCF − Capex | $28.5M | — |
| FCF MarginFCF / Revenue | 6.6% | — |
| Capex IntensityCapex / Revenue | 3.8% | — |
| Cash ConversionOCF / Net Profit | 1.52× | — |
| TTM Free Cash FlowTrailing 4 quarters | $67.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $45.1M | $-25.7M | ||
| Q3 25 | $49.6M | $-15.4M | ||
| Q2 25 | $50.5M | $-16.6M | ||
| Q1 25 | $-22.7M | $-33.5M | ||
| Q4 24 | $74.7M | $-57.2M | ||
| Q3 24 | $29.8M | $-22.6M | ||
| Q2 24 | $27.2M | $-10.2M | ||
| Q1 24 | $-12.3M | $-20.0M |
| Q4 25 | $28.5M | — | ||
| Q3 25 | $37.6M | — | ||
| Q2 25 | $38.4M | — | ||
| Q1 25 | $-37.0M | — | ||
| Q4 24 | $56.1M | — | ||
| Q3 24 | $14.4M | — | ||
| Q2 24 | $10.1M | — | ||
| Q1 24 | $-38.6M | — |
| Q4 25 | 6.6% | — | ||
| Q3 25 | 7.7% | — | ||
| Q2 25 | 7.6% | — | ||
| Q1 25 | -8.1% | — | ||
| Q4 24 | 11.8% | — | ||
| Q3 24 | 2.6% | — | ||
| Q2 24 | 1.8% | — | ||
| Q1 24 | -7.8% | — |
| Q4 25 | 3.8% | — | ||
| Q3 25 | 2.5% | — | ||
| Q2 25 | 2.4% | — | ||
| Q1 25 | 3.1% | — | ||
| Q4 24 | 3.9% | 0.0% | ||
| Q3 24 | 2.8% | 0.0% | ||
| Q2 24 | 3.0% | 0.0% | ||
| Q1 24 | 5.3% | 0.0% |
| Q4 25 | 1.52× | — | ||
| Q3 25 | 2.08× | — | ||
| Q2 25 | 3.08× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.31× | — | ||
| Q2 24 | 1.01× | — | ||
| Q1 24 | -0.95× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
KOP
| Other | $127.8M | 30% |
| Railroad Treated Products | $119.0M | 28% |
| Utility Poles | $79.8M | 18% |
| Pitch And Related Products | $74.1M | 17% |
| Carbon Black Feedstock And Distillates | $14.4M | 3% |
| Railroad Infrastructure Products And Services | $9.9M | 2% |
| Phthalic Anhydride Naphthalene And Other Chemicals | $7.7M | 2% |
PIII
| Capitated Revenue | $366.2M | 95% |
| Health Care Patient Service | $18.6M | 5% |
| Health Care Care Coordination Management Fees | $2.7M | 1% |
