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Side-by-side financial comparison of Life Time Group Holdings, Inc. (LTH) and P3 Health Partners Inc. (PIII). Click either name above to swap in a different company.
Life Time Group Holdings, Inc. is the larger business by last-quarter revenue ($788.7M vs $384.8M, roughly 2.0× P3 Health Partners Inc.). Life Time Group Holdings, Inc. runs the higher net margin — 11.2% vs -19.6%, a 30.8% gap on every dollar of revenue. On growth, Life Time Group Holdings, Inc. posted the faster year-over-year revenue change (11.7% vs 3.8%). Over the past eight quarters, Life Time Group Holdings, Inc.'s revenue compounded faster (8.7% CAGR vs -0.5%).
Life Time Group Holdings, Inc. operates a network of premium athletic, fitness and wellness destinations across the United States. It offers diverse services including state-of-the-art gym facilities, group exercise classes, personal training, spa treatments, nutrition coaching, youth programs and co-working spaces for consumers pursuing holistic healthy lifestyles.
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.
LTH vs PIII — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $788.7M | $384.8M |
| Net Profit | $88.1M | $-75.5M |
| Gross Margin | — | — |
| Operating Margin | 17.1% | -40.0% |
| Net Margin | 11.2% | -19.6% |
| Revenue YoY | 11.7% | 3.8% |
| Net Profit YoY | 15.8% | -28.8% |
| EPS (diluted) | $0.39 | $-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 | $788.7M | — | ||
| Q4 25 | $745.1M | $384.8M | ||
| Q3 25 | $782.6M | $345.3M | ||
| Q2 25 | $761.5M | $355.8M | ||
| Q1 25 | $706.0M | $373.2M | ||
| Q4 24 | $663.3M | $370.7M | ||
| Q3 24 | $693.2M | $362.1M | ||
| Q2 24 | $667.8M | $379.2M |
| Q1 26 | $88.1M | — | ||
| Q4 25 | $123.0M | $-75.5M | ||
| Q3 25 | $102.4M | $-31.6M | ||
| Q2 25 | $72.1M | $-20.4M | ||
| Q1 25 | $76.1M | $-20.5M | ||
| Q4 24 | $37.2M | $-58.6M | ||
| Q3 24 | $41.4M | $-46.5M | ||
| Q2 24 | $52.8M | $-12.0M |
| Q1 26 | — | — | ||
| Q4 25 | 49.1% | — | ||
| Q3 25 | 47.1% | — | ||
| Q2 25 | 47.0% | — | ||
| Q1 25 | 47.5% | — | ||
| Q4 24 | 48.2% | — | ||
| Q3 24 | 46.5% | — | ||
| Q2 24 | 46.8% | — |
| Q1 26 | 17.1% | — | ||
| Q4 25 | 17.4% | -40.0% | ||
| Q3 25 | 17.3% | -12.8% | ||
| Q2 25 | 14.2% | -9.6% | ||
| Q1 25 | 15.2% | -10.2% | ||
| Q4 24 | 13.1% | -37.4% | ||
| Q3 24 | 13.5% | -29.5% | ||
| Q2 24 | 15.7% | -8.3% |
| Q1 26 | 11.2% | — | ||
| Q4 25 | 16.5% | -19.6% | ||
| Q3 25 | 13.1% | -9.1% | ||
| Q2 25 | 9.5% | -5.7% | ||
| Q1 25 | 10.8% | -5.5% | ||
| Q4 24 | 5.6% | -15.8% | ||
| Q3 24 | 6.0% | -12.8% | ||
| Q2 24 | 7.9% | -3.2% |
| Q1 26 | $0.39 | — | ||
| Q4 25 | $0.55 | $-23.08 | ||
| Q3 25 | $0.45 | $-9.67 | ||
| Q2 25 | $0.32 | $-6.23 | ||
| Q1 25 | $0.34 | $-6.28 | ||
| Q4 24 | $0.17 | $-23.13 | ||
| Q3 24 | $0.19 | $-15.70 | ||
| Q2 24 | $0.26 | $-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 | $120.0M | $25.0M |
| Total DebtLower is stronger | $1.5B | $228.4M |
| Stockholders' EquityBook value | $3.2B | $-155.2M |
| Total Assets | $8.1B | $656.6M |
| Debt / EquityLower = less leverage | 0.46× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $120.0M | — | ||
| Q4 25 | $204.8M | $25.0M | ||
| Q3 25 | $218.9M | $37.7M | ||
| Q2 25 | $175.5M | $38.6M | ||
| Q1 25 | $59.0M | $40.1M | ||
| Q4 24 | $10.9M | $38.8M | ||
| Q3 24 | $120.9M | $63.0M | ||
| Q2 24 | $34.5M | $73.1M |
| Q1 26 | $1.5B | — | ||
| Q4 25 | $1.5B | $228.4M | ||
| Q3 25 | $1.5B | $252.8M | ||
| Q2 25 | $1.5B | $182.0M | ||
| Q1 25 | $1.5B | $171.1M | ||
| Q4 24 | $1.5B | $108.9M | ||
| Q3 24 | $1.7B | $133.2M | ||
| Q2 24 | $1.8B | $133.1M |
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.1B | $-155.2M | ||
| Q3 25 | $3.0B | $-18.7M | ||
| Q2 25 | $2.9B | $44.5M | ||
| Q1 25 | $2.7B | $63.3M | ||
| Q4 24 | $2.6B | $75.9M | ||
| Q3 24 | $2.6B | $120.5M | ||
| Q2 24 | $2.4B | $166.8M |
| Q1 26 | $8.1B | — | ||
| Q4 25 | $8.0B | $656.6M | ||
| Q3 25 | $7.8B | $683.6M | ||
| Q2 25 | $7.6B | $731.6M | ||
| Q1 25 | $7.3B | $783.9M | ||
| Q4 24 | $7.2B | $783.4M | ||
| Q3 24 | $7.2B | $833.3M | ||
| Q2 24 | $7.1B | $892.8M |
| Q1 26 | 0.46× | — | ||
| Q4 25 | 0.48× | — | ||
| Q3 25 | 0.51× | — | ||
| Q2 25 | 0.53× | 4.09× | ||
| Q1 25 | 0.56× | 2.71× | ||
| Q4 24 | 0.59× | 1.43× | ||
| Q3 24 | 0.64× | 1.11× | ||
| Q2 24 | 0.78× | 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 | $198.8M | $-25.7M |
| Free Cash FlowOCF − Capex | $-61.2M | — |
| FCF MarginFCF / Revenue | -7.8% | — |
| Capex IntensityCapex / Revenue | 26.0% | — |
| Cash ConversionOCF / Net Profit | 2.26× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-123.6M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $198.8M | — | ||
| Q4 25 | $239.9M | $-25.7M | ||
| Q3 25 | $251.1M | $-15.4M | ||
| Q2 25 | $195.7M | $-16.6M | ||
| Q1 25 | $183.9M | $-33.5M | ||
| Q4 24 | $163.1M | $-57.2M | ||
| Q3 24 | $151.1M | $-22.6M | ||
| Q2 24 | $170.4M | $-10.2M |
| Q1 26 | $-61.2M | — | ||
| Q4 25 | $-64.6M | — | ||
| Q3 25 | $28.6M | — | ||
| Q2 25 | $-26.3M | — | ||
| Q1 25 | $41.4M | — | ||
| Q4 24 | $26.8M | — | ||
| Q3 24 | $64.0M | — | ||
| Q2 24 | $26.1M | — |
| Q1 26 | -7.8% | — | ||
| Q4 25 | -8.7% | — | ||
| Q3 25 | 3.7% | — | ||
| Q2 25 | -3.5% | — | ||
| Q1 25 | 5.9% | — | ||
| Q4 24 | 4.0% | — | ||
| Q3 24 | 9.2% | — | ||
| Q2 24 | 3.9% | — |
| Q1 26 | 26.0% | — | ||
| Q4 25 | 40.9% | — | ||
| Q3 25 | 28.4% | — | ||
| Q2 25 | 29.2% | — | ||
| Q1 25 | 20.2% | — | ||
| Q4 24 | 20.6% | 0.0% | ||
| Q3 24 | 12.6% | 0.0% | ||
| Q2 24 | 21.6% | 0.0% |
| Q1 26 | 2.26× | — | ||
| Q4 25 | 1.95× | — | ||
| Q3 25 | 2.45× | — | ||
| Q2 25 | 2.71× | — | ||
| Q1 25 | 2.41× | — | ||
| Q4 24 | 4.39× | — | ||
| Q3 24 | 3.65× | — | ||
| Q2 24 | 3.23× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LTH
| Center revenue | $767.6M | 97% |
| Other revenue | $21.1M | 3% |
PIII
| Capitated Revenue | $366.2M | 95% |
| Health Care Patient Service | $18.6M | 5% |
| Health Care Care Coordination Management Fees | $2.7M | 1% |
