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Side-by-side financial comparison of P3 Health Partners Inc. (PIII) and Simpson Manufacturing Co., Inc. (SSD). Click either name above to swap in a different company.
Simpson Manufacturing Co., Inc. is the larger business by last-quarter revenue ($588.0M vs $384.8M, roughly 1.5× P3 Health Partners Inc.). Simpson Manufacturing Co., Inc. runs the higher net margin — 15.0% vs -19.6%, a 34.6% gap on every dollar of revenue. On growth, Simpson Manufacturing Co., Inc. posted the faster year-over-year revenue change (9.1% vs 3.8%). Over the past eight quarters, P3 Health Partners Inc.'s revenue compounded faster (-0.5% CAGR vs -0.8%).
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.
Simpson Manufacturing Company is a leading building materials manufacturer in the United States that produces structural connectors, fasteners, anchors, and products for new construction and retrofitting.
PIII vs SSD — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $384.8M | $588.0M |
| Net Profit | $-75.5M | $88.2M |
| Gross Margin | — | 45.2% |
| Operating Margin | -40.0% | 19.5% |
| Net Margin | -19.6% | 15.0% |
| Revenue YoY | 3.8% | 9.1% |
| Net Profit YoY | -28.8% | 13.3% |
| EPS (diluted) | $-23.08 | $2.13 |
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 | — | $588.0M | ||
| Q4 25 | $384.8M | $539.3M | ||
| Q3 25 | $345.3M | $623.5M | ||
| Q2 25 | $355.8M | $631.1M | ||
| Q1 25 | $373.2M | $538.9M | ||
| Q4 24 | $370.7M | $517.4M | ||
| Q3 24 | $362.1M | $587.2M | ||
| Q2 24 | $379.2M | $597.0M |
| Q1 26 | — | $88.2M | ||
| Q4 25 | $-75.5M | $56.2M | ||
| Q3 25 | $-31.6M | $107.4M | ||
| Q2 25 | $-20.4M | $103.5M | ||
| Q1 25 | $-20.5M | $77.9M | ||
| Q4 24 | $-58.6M | $55.4M | ||
| Q3 24 | $-46.5M | $93.5M | ||
| Q2 24 | $-12.0M | $97.8M |
| Q1 26 | — | 45.2% | ||
| Q4 25 | — | 43.4% | ||
| Q3 25 | — | 46.4% | ||
| Q2 25 | — | 46.7% | ||
| Q1 25 | — | 46.8% | ||
| Q4 24 | — | 44.0% | ||
| Q3 24 | — | 46.8% | ||
| Q2 24 | — | 46.7% |
| Q1 26 | — | 19.5% | ||
| Q4 25 | -40.0% | 13.9% | ||
| Q3 25 | -12.8% | 22.6% | ||
| Q2 25 | -9.6% | 22.2% | ||
| Q1 25 | -10.2% | 19.0% | ||
| Q4 24 | -37.4% | 14.8% | ||
| Q3 24 | -29.5% | 21.3% | ||
| Q2 24 | -8.3% | 22.1% |
| Q1 26 | — | 15.0% | ||
| Q4 25 | -19.6% | 10.4% | ||
| Q3 25 | -9.1% | 17.2% | ||
| Q2 25 | -5.7% | 16.4% | ||
| Q1 25 | -5.5% | 14.5% | ||
| Q4 24 | -15.8% | 10.7% | ||
| Q3 24 | -12.8% | 15.9% | ||
| Q2 24 | -3.2% | 16.4% |
| Q1 26 | — | $2.13 | ||
| Q4 25 | $-23.08 | $1.34 | ||
| Q3 25 | $-9.67 | $2.58 | ||
| Q2 25 | $-6.23 | $2.47 | ||
| Q1 25 | $-6.28 | $1.85 | ||
| Q4 24 | $-23.13 | $1.31 | ||
| Q3 24 | $-15.70 | $2.21 | ||
| Q2 24 | $-7.37 | $2.31 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $25.0M | $341.0M |
| Total DebtLower is stronger | $228.4M | — |
| Stockholders' EquityBook value | $-155.2M | $2.1B |
| Total Assets | $656.6M | $3.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $341.0M | ||
| Q4 25 | $25.0M | $384.1M | ||
| Q3 25 | $37.7M | $297.3M | ||
| Q2 25 | $38.6M | $190.4M | ||
| Q1 25 | $40.1M | $150.3M | ||
| Q4 24 | $38.8M | $239.4M | ||
| Q3 24 | $63.0M | $339.4M | ||
| Q2 24 | $73.1M | $354.9M |
| Q1 26 | — | — | ||
| Q4 25 | $228.4M | $300.0M | ||
| Q3 25 | $252.8M | $371.3M | ||
| Q2 25 | $182.0M | $376.9M | ||
| Q1 25 | $171.1M | $382.5M | ||
| Q4 24 | $108.9M | $388.1M | ||
| Q3 24 | $133.2M | $393.8M | ||
| Q2 24 | $133.1M | $399.4M |
| Q1 26 | — | $2.1B | ||
| Q4 25 | $-155.2M | $2.0B | ||
| Q3 25 | $-18.7M | $2.0B | ||
| Q2 25 | $44.5M | $1.9B | ||
| Q1 25 | $63.3M | $1.9B | ||
| Q4 24 | $75.9M | $1.8B | ||
| Q3 24 | $120.5M | $1.9B | ||
| Q2 24 | $166.8M | $1.8B |
| Q1 26 | — | $3.0B | ||
| Q4 25 | $656.6M | $3.1B | ||
| Q3 25 | $683.6M | $3.0B | ||
| Q2 25 | $731.6M | $3.0B | ||
| Q1 25 | $783.9M | $2.8B | ||
| Q4 24 | $783.4M | $2.7B | ||
| Q3 24 | $833.3M | $2.9B | ||
| Q2 24 | $892.8M | $2.8B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.15× | ||
| Q3 25 | — | 0.19× | ||
| Q2 25 | 4.09× | 0.20× | ||
| Q1 25 | 2.71× | 0.21× | ||
| Q4 24 | 1.43× | 0.21× | ||
| Q3 24 | 1.11× | 0.21× | ||
| Q2 24 | 0.80× | 0.23× |
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 | $-25.7M | $155.7M | ||
| Q3 25 | $-15.4M | $170.2M | ||
| Q2 25 | $-16.6M | $125.2M | ||
| Q1 25 | $-33.5M | $7.6M | ||
| Q4 24 | $-57.2M | $115.8M | ||
| Q3 24 | $-22.6M | $103.3M | ||
| Q2 24 | $-10.2M | $111.1M |
| Q1 26 | — | — | ||
| Q4 25 | — | $119.0M | ||
| Q3 25 | — | $133.9M | ||
| Q2 25 | — | $87.3M | ||
| Q1 25 | — | $-42.6M | ||
| Q4 24 | — | $60.3M | ||
| Q3 24 | — | $58.1M | ||
| Q2 24 | — | $70.9M |
| Q1 26 | — | — | ||
| Q4 25 | — | 22.1% | ||
| Q3 25 | — | 21.5% | ||
| Q2 25 | — | 13.8% | ||
| Q1 25 | — | -7.9% | ||
| Q4 24 | — | 11.7% | ||
| Q3 24 | — | 9.9% | ||
| Q2 24 | — | 11.9% |
| Q1 26 | — | — | ||
| Q4 25 | — | 6.8% | ||
| Q3 25 | — | 5.8% | ||
| Q2 25 | — | 6.0% | ||
| Q1 25 | — | 9.3% | ||
| Q4 24 | 0.0% | 10.7% | ||
| Q3 24 | 0.0% | 7.7% | ||
| Q2 24 | 0.0% | 6.7% |
| Q1 26 | — | — | ||
| Q4 25 | — | 2.77× | ||
| Q3 25 | — | 1.58× | ||
| Q2 25 | — | 1.21× | ||
| Q1 25 | — | 0.10× | ||
| Q4 24 | — | 2.09× | ||
| Q3 24 | — | 1.10× | ||
| Q2 24 | — | 1.14× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PIII
| Capitated Revenue | $366.2M | 95% |
| Health Care Patient Service | $18.6M | 5% |
| Health Care Care Coordination Management Fees | $2.7M | 1% |
SSD
Segment breakdown not available.
