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Side-by-side financial comparison of Monolithic Power Systems (MPWR) and P3 Health Partners Inc. (PIII). Click either name above to swap in a different company.
Monolithic Power Systems is the larger business by last-quarter revenue ($804.2M vs $384.8M, roughly 2.1× P3 Health Partners Inc.). Monolithic Power Systems runs the higher net margin — 24.0% vs -19.6%, a 43.7% gap on every dollar of revenue. On growth, Monolithic Power Systems posted the faster year-over-year revenue change (26.1% vs 3.8%). Over the past eight quarters, Monolithic Power Systems's revenue compounded faster (25.9% CAGR vs -0.5%).
Monolithic Power Systems, Inc. is an American, publicly traded company headquartered in Kirkland, Washington. It operates in more than 15 locations worldwide.
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.
MPWR vs PIII — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $804.2M | $384.8M |
| Net Profit | $193.2M | $-75.5M |
| Gross Margin | 55.3% | — |
| Operating Margin | 30.0% | -40.0% |
| Net Margin | 24.0% | -19.6% |
| Revenue YoY | 26.1% | 3.8% |
| Net Profit YoY | 43.1% | -28.8% |
| EPS (diluted) | $3.92 | $-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 | $804.2M | — | ||
| Q4 25 | $751.2M | $384.8M | ||
| Q3 25 | $737.2M | $345.3M | ||
| Q2 25 | $664.6M | $355.8M | ||
| Q1 25 | $637.6M | $373.2M | ||
| Q4 24 | $621.7M | $370.7M | ||
| Q3 24 | $620.1M | $362.1M | ||
| Q2 24 | $507.4M | $379.2M |
| Q1 26 | $193.2M | — | ||
| Q4 25 | $171.7M | $-75.5M | ||
| Q3 25 | $179.8M | $-31.6M | ||
| Q2 25 | $135.0M | $-20.4M | ||
| Q1 25 | $135.1M | $-20.5M | ||
| Q4 24 | $1.3B | $-58.6M | ||
| Q3 24 | $144.4M | $-46.5M | ||
| Q2 24 | $100.4M | $-12.0M |
| Q1 26 | 55.3% | — | ||
| Q4 25 | 55.2% | — | ||
| Q3 25 | 55.1% | — | ||
| Q2 25 | 55.1% | — | ||
| Q1 25 | 55.4% | — | ||
| Q4 24 | 55.4% | — | ||
| Q3 24 | 55.4% | — | ||
| Q2 24 | 55.3% | — |
| Q1 26 | 30.0% | — | ||
| Q4 25 | 26.6% | -40.0% | ||
| Q3 25 | 26.5% | -12.8% | ||
| Q2 25 | 24.8% | -9.6% | ||
| Q1 25 | 26.5% | -10.2% | ||
| Q4 24 | 26.3% | -37.4% | ||
| Q3 24 | 26.5% | -29.5% | ||
| Q2 24 | 23.0% | -8.3% |
| Q1 26 | 24.0% | — | ||
| Q4 25 | 22.9% | -19.6% | ||
| Q3 25 | 24.4% | -9.1% | ||
| Q2 25 | 20.3% | -5.7% | ||
| Q1 25 | 21.2% | -5.5% | ||
| Q4 24 | 201.8% | -15.8% | ||
| Q3 24 | 23.3% | -12.8% | ||
| Q2 24 | 19.8% | -3.2% |
| Q1 26 | $3.92 | — | ||
| Q4 25 | $3.50 | $-23.08 | ||
| Q3 25 | $3.74 | $-9.67 | ||
| Q2 25 | $2.81 | $-6.23 | ||
| Q1 25 | $2.81 | $-6.28 | ||
| Q4 24 | $25.71 | $-23.13 | ||
| Q3 24 | $2.95 | $-15.70 | ||
| Q2 24 | $2.05 | $-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 | $1.4B | $25.0M |
| Total DebtLower is stronger | — | $228.4M |
| Stockholders' EquityBook value | $3.7B | $-155.2M |
| Total Assets | $4.4B | $656.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.4B | — | ||
| Q4 25 | $1.3B | $25.0M | ||
| Q3 25 | $1.3B | $37.7M | ||
| Q2 25 | $1.1B | $38.6M | ||
| Q1 25 | $1.0B | $40.1M | ||
| Q4 24 | $862.9M | $38.8M | ||
| Q3 24 | $1.5B | $63.0M | ||
| Q2 24 | $1.3B | $73.1M |
| Q1 26 | — | — | ||
| 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 26 | $3.7B | — | ||
| Q4 25 | $3.5B | $-155.2M | ||
| Q3 25 | $3.4B | $-18.7M | ||
| Q2 25 | $3.2B | $44.5M | ||
| Q1 25 | $3.1B | $63.3M | ||
| Q4 24 | $3.0B | $75.9M | ||
| Q3 24 | $2.4B | $120.5M | ||
| Q2 24 | $2.2B | $166.8M |
| Q1 26 | $4.4B | — | ||
| Q4 25 | $4.2B | $656.6M | ||
| Q3 25 | $4.1B | $683.6M | ||
| Q2 25 | $3.9B | $731.6M | ||
| Q1 25 | $3.7B | $783.9M | ||
| Q4 24 | $3.5B | $783.4M | ||
| Q3 24 | $2.9B | $833.3M | ||
| Q2 24 | $2.6B | $892.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 4.09× | ||
| Q1 25 | — | 2.71× | ||
| Q4 24 | — | 1.43× | ||
| Q3 24 | — | 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 | — | $-25.7M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $104.9M | $-25.7M | ||
| Q3 25 | $239.3M | $-15.4M | ||
| Q2 25 | $237.6M | $-16.6M | ||
| Q1 25 | $256.4M | $-33.5M | ||
| Q4 24 | $167.7M | $-57.2M | ||
| Q3 24 | $231.7M | $-22.6M | ||
| Q2 24 | $141.0M | $-10.2M |
| Q1 26 | — | — | ||
| Q4 25 | $63.9M | — | ||
| Q3 25 | $196.8M | — | ||
| Q2 25 | $189.5M | — | ||
| Q1 25 | $216.0M | — | ||
| Q4 24 | $102.9M | — | ||
| Q3 24 | $197.9M | — | ||
| Q2 24 | $109.5M | — |
| Q1 26 | — | — | ||
| Q4 25 | 8.5% | — | ||
| Q3 25 | 26.7% | — | ||
| Q2 25 | 28.5% | — | ||
| Q1 25 | 33.9% | — | ||
| Q4 24 | 16.5% | — | ||
| Q3 24 | 31.9% | — | ||
| Q2 24 | 21.6% | — |
| Q1 26 | — | — | ||
| Q4 25 | 5.5% | — | ||
| Q3 25 | 5.8% | — | ||
| Q2 25 | 7.2% | — | ||
| Q1 25 | 6.3% | — | ||
| Q4 24 | 10.4% | 0.0% | ||
| Q3 24 | 5.5% | 0.0% | ||
| Q2 24 | 6.2% | 0.0% |
| Q1 26 | — | — | ||
| Q4 25 | 0.61× | — | ||
| Q3 25 | 1.33× | — | ||
| Q2 25 | 1.76× | — | ||
| Q1 25 | 1.90× | — | ||
| Q4 24 | 0.13× | — | ||
| Q3 24 | 1.60× | — | ||
| Q2 24 | 1.40× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MPWR
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% |
