vs
Side-by-side financial comparison of New Fortress Energy Inc. (NFE) 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 $326.2M, roughly 1.2× New Fortress Energy Inc.). P3 Health Partners Inc. runs the higher net margin — -19.6% vs -259.7%, a 240.0% gap on every dollar of revenue. On growth, P3 Health Partners Inc. posted the faster year-over-year revenue change (3.8% vs -7.0%). Over the past eight quarters, P3 Health Partners Inc.'s revenue compounded faster (-0.5% CAGR vs -26.8%).
New Fortress Energy Inc. is a global energy infrastructure firm developing, owning and operating LNG import/export terminals, natural gas supply networks and low-carbon projects. It serves utility, industrial and public sector clients across the Americas and Caribbean, delivering affordable, lower-emission energy resources.
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.
NFE vs PIII — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $326.2M | $384.8M |
| Net Profit | $-847.1M | $-75.5M |
| Gross Margin | 35.5% | — |
| Operating Margin | -193.0% | -40.0% |
| Net Margin | -259.7% | -19.6% |
| Revenue YoY | -7.0% | 3.8% |
| Net Profit YoY | -277.4% | -28.8% |
| EPS (diluted) | $-3.03 | $-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 | $326.2M | $384.8M | ||
| Q3 25 | $240.3M | $345.3M | ||
| Q2 25 | $228.1M | $355.8M | ||
| Q1 25 | $384.9M | $373.2M | ||
| Q4 24 | $350.7M | $370.7M | ||
| Q3 24 | $446.0M | $362.1M | ||
| Q2 24 | $291.2M | $379.2M | ||
| Q1 24 | $609.5M | $388.5M |
| Q4 25 | $-847.1M | $-75.5M | ||
| Q3 25 | $-263.0M | $-31.6M | ||
| Q2 25 | $-546.5M | $-20.4M | ||
| Q1 25 | $-175.4M | $-20.5M | ||
| Q4 24 | $-224.4M | $-58.6M | ||
| Q3 24 | $9.3M | $-46.5M | ||
| Q2 24 | $-88.9M | $-12.0M | ||
| Q1 24 | $54.1M | $-18.7M |
| Q4 25 | 35.5% | — | ||
| Q3 25 | 18.1% | — | ||
| Q2 25 | 8.4% | — | ||
| Q1 25 | 21.4% | — | ||
| Q4 24 | 17.6% | — | ||
| Q3 24 | 27.1% | — | ||
| Q2 24 | 23.8% | — | ||
| Q1 24 | 62.4% | — |
| Q4 25 | -193.0% | -40.0% | ||
| Q3 25 | -37.4% | -12.8% | ||
| Q2 25 | -170.3% | -9.6% | ||
| Q1 25 | -3.3% | -10.2% | ||
| Q4 24 | 65.0% | -37.4% | ||
| Q3 24 | 17.8% | -29.5% | ||
| Q2 24 | 12.3% | -8.3% | ||
| Q1 24 | 30.4% | -11.3% |
| Q4 25 | -259.7% | -19.6% | ||
| Q3 25 | -109.4% | -9.1% | ||
| Q2 25 | -239.6% | -5.7% | ||
| Q1 25 | -45.6% | -5.5% | ||
| Q4 24 | -64.0% | -15.8% | ||
| Q3 24 | 2.1% | -12.8% | ||
| Q2 24 | -30.5% | -3.2% | ||
| Q1 24 | 8.9% | -4.8% |
| Q4 25 | $-3.03 | $-23.08 | ||
| Q3 25 | $-0.96 | $-9.67 | ||
| Q2 25 | $-1.99 | $-6.23 | ||
| Q1 25 | $-0.65 | $-6.28 | ||
| Q4 24 | $-1.10 | $-23.13 | ||
| Q3 24 | $0.03 | $-15.70 | ||
| Q2 24 | $-0.42 | $-7.37 | ||
| Q1 24 | $0.23 | $-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 | $226.5M | $25.0M |
| Total DebtLower is stronger | $8.2B | $228.4M |
| Stockholders' EquityBook value | $182.6M | $-155.2M |
| Total Assets | $10.6B | $656.6M |
| Debt / EquityLower = less leverage | 44.78× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $226.5M | $25.0M | ||
| Q3 25 | $145.2M | $37.7M | ||
| Q2 25 | $551.1M | $38.6M | ||
| Q1 25 | $447.9M | $40.1M | ||
| Q4 24 | $492.9M | $38.8M | ||
| Q3 24 | $90.8M | $63.0M | ||
| Q2 24 | $133.0M | $73.1M | ||
| Q1 24 | $143.5M | $27.3M |
| Q4 25 | $8.2B | $228.4M | ||
| Q3 25 | — | $252.8M | ||
| Q2 25 | — | $182.0M | ||
| Q1 25 | — | $171.1M | ||
| Q4 24 | $8.9B | $108.9M | ||
| Q3 24 | — | $133.2M | ||
| Q2 24 | — | $133.1M | ||
| Q1 24 | — | $118.1M |
| Q4 25 | $182.6M | $-155.2M | ||
| Q3 25 | $1.1B | $-18.7M | ||
| Q2 25 | $1.3B | $44.5M | ||
| Q1 25 | $1.8B | $63.3M | ||
| Q4 24 | $1.9B | $75.9M | ||
| Q3 24 | $1.6B | $120.5M | ||
| Q2 24 | $1.6B | $166.8M | ||
| Q1 24 | $1.7B | $146.6M |
| Q4 25 | $10.6B | $656.6M | ||
| Q3 25 | $12.0B | $683.6M | ||
| Q2 25 | $12.0B | $731.6M | ||
| Q1 25 | $13.1B | $783.9M | ||
| Q4 24 | $12.9B | $783.4M | ||
| Q3 24 | $12.0B | $833.3M | ||
| Q2 24 | $11.4B | $892.8M | ||
| Q1 24 | $10.9B | $855.9M |
| Q4 25 | 44.78× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 4.09× | ||
| Q1 25 | — | 2.71× | ||
| Q4 24 | 4.74× | 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 | $-76.2M | $-25.7M |
| Free Cash FlowOCF − Capex | $-134.8M | — |
| FCF MarginFCF / Revenue | -41.3% | — |
| Capex IntensityCapex / Revenue | 18.0% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-1.4B | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-76.2M | $-25.7M | ||
| Q3 25 | $-171.0M | $-15.4M | ||
| Q2 25 | $-329.0M | $-16.6M | ||
| Q1 25 | $-7.2M | $-33.5M | ||
| Q4 24 | $445.3M | $-57.2M | ||
| Q3 24 | $-20.0M | $-22.6M | ||
| Q2 24 | $113.9M | $-10.2M | ||
| Q1 24 | $63.0M | $-20.0M |
| Q4 25 | $-134.8M | — | ||
| Q3 25 | $-231.6M | — | ||
| Q2 25 | $-726.7M | — | ||
| Q1 25 | $-262.3M | — | ||
| Q4 24 | $-210.3M | — | ||
| Q3 24 | $-367.0M | — | ||
| Q2 24 | $-493.2M | — | ||
| Q1 24 | $-457.9M | — |
| Q4 25 | -41.3% | — | ||
| Q3 25 | -96.4% | — | ||
| Q2 25 | -318.6% | — | ||
| Q1 25 | -68.2% | — | ||
| Q4 24 | -60.0% | — | ||
| Q3 24 | -82.3% | — | ||
| Q2 24 | -169.3% | — | ||
| Q1 24 | -75.1% | — |
| Q4 25 | 18.0% | — | ||
| Q3 25 | 25.2% | — | ||
| Q2 25 | 174.4% | — | ||
| Q1 25 | 66.3% | — | ||
| Q4 24 | 187.0% | 0.0% | ||
| Q3 24 | 77.8% | 0.0% | ||
| Q2 24 | 208.4% | 0.0% | ||
| Q1 24 | 85.5% | 0.0% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -2.15× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 1.16× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NFE
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% |
