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Side-by-side financial comparison of Noble Corp plc (NE) and P3 Health Partners Inc. (PIII). Click either name above to swap in a different company.
Noble Corp plc is the larger business by last-quarter revenue ($764.4M vs $384.8M, roughly 2.0× P3 Health Partners Inc.). Noble Corp plc runs the higher net margin — 11.3% vs -19.6%, a 31.0% gap on every dollar of revenue. On growth, P3 Health Partners Inc. posted the faster year-over-year revenue change (3.8% vs -17.6%). Over the past eight quarters, Noble Corp plc's revenue compounded faster (9.5% CAGR vs -0.5%).
Barnes & Noble Booksellers is an American bookseller with the largest number of retail outlets in the United States. The company operates approximately 700+ retail stores across the United States.
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.
NE vs PIII — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $764.4M | $384.8M |
| Net Profit | $86.6M | $-75.5M |
| Gross Margin | — | — |
| Operating Margin | 5.6% | -40.0% |
| Net Margin | 11.3% | -19.6% |
| Revenue YoY | -17.6% | 3.8% |
| Net Profit YoY | -10.4% | -28.8% |
| EPS (diluted) | $0.54 | $-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 | $764.4M | $384.8M | ||
| Q3 25 | $798.0M | $345.3M | ||
| Q2 25 | $848.7M | $355.8M | ||
| Q1 25 | $874.5M | $373.2M | ||
| Q4 24 | $927.3M | $370.7M | ||
| Q3 24 | $800.5M | $362.1M | ||
| Q2 24 | $692.8M | $379.2M | ||
| Q1 24 | $637.1M | $388.5M |
| Q4 25 | $86.6M | $-75.5M | ||
| Q3 25 | $-21.1M | $-31.6M | ||
| Q2 25 | $42.9M | $-20.4M | ||
| Q1 25 | $108.3M | $-20.5M | ||
| Q4 24 | $96.6M | $-58.6M | ||
| Q3 24 | $61.2M | $-46.5M | ||
| Q2 24 | $195.0M | $-12.0M | ||
| Q1 24 | $95.5M | $-18.7M |
| Q4 25 | 5.6% | -40.0% | ||
| Q3 25 | 6.3% | -12.8% | ||
| Q2 25 | 15.9% | -9.6% | ||
| Q1 25 | 21.4% | -10.2% | ||
| Q4 24 | 18.4% | -37.4% | ||
| Q3 24 | 14.4% | -29.5% | ||
| Q2 24 | 30.3% | -8.3% | ||
| Q1 24 | 16.9% | -11.3% |
| Q4 25 | 11.3% | -19.6% | ||
| Q3 25 | -2.6% | -9.1% | ||
| Q2 25 | 5.1% | -5.7% | ||
| Q1 25 | 12.4% | -5.5% | ||
| Q4 24 | 10.4% | -15.8% | ||
| Q3 24 | 7.6% | -12.8% | ||
| Q2 24 | 28.1% | -3.2% | ||
| Q1 24 | 15.0% | -4.8% |
| Q4 25 | $0.54 | $-23.08 | ||
| Q3 25 | $-0.13 | $-9.67 | ||
| Q2 25 | $0.27 | $-6.23 | ||
| Q1 25 | $0.67 | $-6.28 | ||
| Q4 24 | $0.56 | $-23.13 | ||
| Q3 24 | $0.40 | $-15.70 | ||
| Q2 24 | $1.34 | $-7.37 | ||
| Q1 24 | $0.66 | $-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 | $471.4M | $25.0M |
| Total DebtLower is stronger | — | $228.4M |
| Stockholders' EquityBook value | $4.5B | $-155.2M |
| Total Assets | $7.5B | $656.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $471.4M | $25.0M | ||
| Q3 25 | $477.9M | $37.7M | ||
| Q2 25 | $338.2M | $38.6M | ||
| Q1 25 | $303.8M | $40.1M | ||
| Q4 24 | $247.3M | $38.8M | ||
| Q3 24 | $391.9M | $63.0M | ||
| Q2 24 | $162.9M | $73.1M | ||
| Q1 24 | $212.5M | $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 | $4.5B | $-155.2M | ||
| Q3 25 | $4.5B | $-18.7M | ||
| Q2 25 | $4.6B | $44.5M | ||
| Q1 25 | $4.7B | $63.3M | ||
| Q4 24 | $4.7B | $75.9M | ||
| Q3 24 | $4.7B | $120.5M | ||
| Q2 24 | $4.0B | $166.8M | ||
| Q1 24 | $3.9B | $146.6M |
| Q4 25 | $7.5B | $656.6M | ||
| Q3 25 | $7.6B | $683.6M | ||
| Q2 25 | $7.7B | $731.6M | ||
| Q1 25 | $7.9B | $783.9M | ||
| Q4 24 | $8.0B | $783.4M | ||
| Q3 24 | $8.0B | $833.3M | ||
| Q2 24 | $5.6B | $892.8M | ||
| Q1 24 | $5.4B | $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 | $187.1M | $-25.7M |
| Free Cash FlowOCF − Capex | $35.4M | — |
| FCF MarginFCF / Revenue | 4.6% | — |
| Capex IntensityCapex / Revenue | 19.9% | — |
| Cash ConversionOCF / Net Profit | 2.16× | — |
| TTM Free Cash FlowTrailing 4 quarters | $432.2M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $187.1M | $-25.7M | ||
| Q3 25 | $277.1M | $-15.4M | ||
| Q2 25 | $216.4M | $-16.6M | ||
| Q1 25 | $271.1M | $-33.5M | ||
| Q4 24 | $136.2M | $-57.2M | ||
| Q3 24 | $283.8M | $-22.6M | ||
| Q2 24 | $106.8M | $-10.2M | ||
| Q1 24 | $128.7M | $-20.0M |
| Q4 25 | $35.4M | — | ||
| Q3 25 | $139.5M | — | ||
| Q2 25 | $99.8M | — | ||
| Q1 25 | $157.5M | — | ||
| Q4 24 | $-4.4M | — | ||
| Q3 24 | $156.8M | — | ||
| Q2 24 | $-34.3M | — | ||
| Q1 24 | $-37.9M | — |
| Q4 25 | 4.6% | — | ||
| Q3 25 | 17.5% | — | ||
| Q2 25 | 11.8% | — | ||
| Q1 25 | 18.0% | — | ||
| Q4 24 | -0.5% | — | ||
| Q3 24 | 19.6% | — | ||
| Q2 24 | -4.9% | — | ||
| Q1 24 | -6.0% | — |
| Q4 25 | 19.9% | — | ||
| Q3 25 | 17.3% | — | ||
| Q2 25 | 13.7% | — | ||
| Q1 25 | 13.0% | — | ||
| Q4 24 | 15.2% | 0.0% | ||
| Q3 24 | 15.9% | 0.0% | ||
| Q2 24 | 20.4% | 0.0% | ||
| Q1 24 | 26.2% | 0.0% |
| Q4 25 | 2.16× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 5.05× | — | ||
| Q1 25 | 2.50× | — | ||
| Q4 24 | 1.41× | — | ||
| Q3 24 | 4.64× | — | ||
| Q2 24 | 0.55× | — | ||
| Q1 24 | 1.35× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NE
| Floaters | $559.8M | 73% |
| Jackups | $145.5M | 19% |
| Service Other | $59.1M | 8% |
PIII
| Capitated Revenue | $366.2M | 95% |
| Health Care Patient Service | $18.6M | 5% |
| Health Care Care Coordination Management Fees | $2.7M | 1% |
