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Side-by-side financial comparison of Grand Canyon Education, Inc. (LOPE) 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 $308.1M, roughly 1.2× Grand Canyon Education, Inc.). Grand Canyon Education, Inc. runs the higher net margin — 28.1% vs -19.6%, a 47.8% gap on every dollar of revenue. On growth, Grand Canyon Education, Inc. posted the faster year-over-year revenue change (5.3% vs 3.8%). Over the past eight quarters, Grand Canyon Education, Inc.'s revenue compounded faster (5.9% CAGR vs -0.5%).
Grand Canyon Education, Inc. (GCE) is an American for-profit corporation that provides services to universities, specializing in program development, online education, and operational support. Formerly affiliated with Grand Canyon University (GCU), a Christian university in Arizona, GCE became a separate publicly traded company in 2008.
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.
LOPE vs PIII — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $308.1M | $384.8M |
| Net Profit | $86.7M | $-75.5M |
| Gross Margin | — | — |
| Operating Margin | 35.1% | -40.0% |
| Net Margin | 28.1% | -19.6% |
| Revenue YoY | 5.3% | 3.8% |
| Net Profit YoY | 5.9% | -28.8% |
| EPS (diluted) | $3.13 | $-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 | $308.1M | $384.8M | ||
| Q3 25 | $261.1M | $345.3M | ||
| Q2 25 | $247.5M | $355.8M | ||
| Q1 25 | $289.3M | $373.2M | ||
| Q4 24 | $292.6M | $370.7M | ||
| Q3 24 | $238.3M | $362.1M | ||
| Q2 24 | $227.5M | $379.2M | ||
| Q1 24 | $274.7M | $388.5M |
| Q4 25 | $86.7M | $-75.5M | ||
| Q3 25 | $16.3M | $-31.6M | ||
| Q2 25 | $41.5M | $-20.4M | ||
| Q1 25 | $71.6M | $-20.5M | ||
| Q4 24 | $81.9M | $-58.6M | ||
| Q3 24 | $41.5M | $-46.5M | ||
| Q2 24 | $34.9M | $-12.0M | ||
| Q1 24 | $68.0M | $-18.7M |
| Q4 25 | 35.1% | -40.0% | ||
| Q3 25 | 6.9% | -12.8% | ||
| Q2 25 | 20.9% | -9.6% | ||
| Q1 25 | 30.4% | -10.2% | ||
| Q4 24 | 34.2% | -37.4% | ||
| Q3 24 | 20.2% | -29.5% | ||
| Q2 24 | 18.8% | -8.3% | ||
| Q1 24 | 30.8% | -11.3% |
| Q4 25 | 28.1% | -19.6% | ||
| Q3 25 | 6.2% | -9.1% | ||
| Q2 25 | 16.8% | -5.7% | ||
| Q1 25 | 24.8% | -5.5% | ||
| Q4 24 | 28.0% | -15.8% | ||
| Q3 24 | 17.4% | -12.8% | ||
| Q2 24 | 15.3% | -3.2% | ||
| Q1 24 | 24.8% | -4.8% |
| Q4 25 | $3.13 | $-23.08 | ||
| Q3 25 | $0.58 | $-9.67 | ||
| Q2 25 | $1.48 | $-6.23 | ||
| Q1 25 | $2.52 | $-6.28 | ||
| Q4 24 | $2.83 | $-23.13 | ||
| Q3 24 | $1.42 | $-15.70 | ||
| Q2 24 | $1.19 | $-7.37 | ||
| Q1 24 | $2.29 | $-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 | $111.8M | $25.0M |
| Total DebtLower is stronger | — | $228.4M |
| Stockholders' EquityBook value | $746.9M | $-155.2M |
| Total Assets | $992.3M | $656.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $111.8M | $25.0M | ||
| Q3 25 | $97.3M | $37.7M | ||
| Q2 25 | $192.3M | $38.6M | ||
| Q1 25 | $144.5M | $40.1M | ||
| Q4 24 | $324.6M | $38.8M | ||
| Q3 24 | $263.6M | $63.0M | ||
| Q2 24 | $241.3M | $73.1M | ||
| Q1 24 | $196.2M | $27.3M |
| Q4 25 | — | $228.4M | ||
| Q3 25 | — | $252.8M | ||
| Q2 25 | — | $182.0M | ||
| Q1 25 | — | $171.1M | ||
| Q4 24 | — | $108.9M | ||
| Q3 24 | — | $133.2M | ||
| Q2 24 | — | $133.1M | ||
| Q1 24 | — | $118.1M |
| Q4 25 | $746.9M | $-155.2M | ||
| Q3 25 | $758.0M | $-18.7M | ||
| Q2 25 | $778.0M | $44.5M | ||
| Q1 25 | $780.7M | $63.3M | ||
| Q4 24 | $783.9M | $75.9M | ||
| Q3 24 | $764.1M | $120.5M | ||
| Q2 24 | $759.2M | $166.8M | ||
| Q1 24 | $759.4M | $146.6M |
| Q4 25 | $992.3M | $656.6M | ||
| Q3 25 | $1.0B | $683.6M | ||
| Q2 25 | $1.0B | $731.6M | ||
| Q1 25 | $1.0B | $783.9M | ||
| Q4 24 | $1.0B | $783.4M | ||
| Q3 24 | $992.9M | $833.3M | ||
| Q2 24 | $992.7M | $892.8M | ||
| Q1 24 | $1.0B | $855.9M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 4.09× | ||
| Q1 25 | — | 2.71× | ||
| Q4 24 | — | 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 | $130.5M | $-25.7M |
| Free Cash FlowOCF − Capex | $122.9M | — |
| FCF MarginFCF / Revenue | 39.9% | — |
| Capex IntensityCapex / Revenue | 2.5% | — |
| Cash ConversionOCF / Net Profit | 1.50× | — |
| TTM Free Cash FlowTrailing 4 quarters | $238.6M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $130.5M | $-25.7M | ||
| Q3 25 | $-48.6M | $-15.4M | ||
| Q2 25 | $124.0M | $-16.6M | ||
| Q1 25 | $67.6M | $-33.5M | ||
| Q4 24 | $135.8M | $-57.2M | ||
| Q3 24 | $-29.4M | $-22.6M | ||
| Q2 24 | $98.6M | $-10.2M | ||
| Q1 24 | $85.0M | $-20.0M |
| Q4 25 | $122.9M | — | ||
| Q3 25 | $-58.3M | — | ||
| Q2 25 | $115.4M | — | ||
| Q1 25 | $58.7M | — | ||
| Q4 24 | $126.1M | — | ||
| Q3 24 | $-39.0M | — | ||
| Q2 24 | $89.6M | — | ||
| Q1 24 | $76.0M | — |
| Q4 25 | 39.9% | — | ||
| Q3 25 | -22.3% | — | ||
| Q2 25 | 46.6% | — | ||
| Q1 25 | 20.3% | — | ||
| Q4 24 | 43.1% | — | ||
| Q3 24 | -16.3% | — | ||
| Q2 24 | 39.4% | — | ||
| Q1 24 | 27.7% | — |
| Q4 25 | 2.5% | — | ||
| Q3 25 | 3.7% | — | ||
| Q2 25 | 3.5% | — | ||
| Q1 25 | 3.1% | — | ||
| Q4 24 | 3.3% | 0.0% | ||
| Q3 24 | 4.0% | 0.0% | ||
| Q2 24 | 3.9% | 0.0% | ||
| Q1 24 | 3.3% | 0.0% |
| Q4 25 | 1.50× | — | ||
| Q3 25 | -2.99× | — | ||
| Q2 25 | 2.98× | — | ||
| Q1 25 | 0.94× | — | ||
| Q4 24 | 1.66× | — | ||
| Q3 24 | -0.71× | — | ||
| Q2 24 | 2.83× | — | ||
| Q1 24 | 1.25× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LOPE
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% |
