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Side-by-side financial comparison of P3 Health Partners Inc. (PIII) and Tecnoglass Inc. (TGLS). 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 $245.3M, roughly 1.6× Tecnoglass Inc.). Tecnoglass Inc. runs the higher net margin — 10.6% vs -19.6%, a 30.3% gap on every dollar of revenue. On growth, P3 Health Partners Inc. posted the faster year-over-year revenue change (3.8% vs 2.4%). Over the past eight quarters, Tecnoglass Inc.'s revenue compounded faster (12.8% CAGR vs -0.5%).
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.
Tecnoglass Inc. is a leading manufacturer of high-performance architectural glass, aluminum windows, doors, and associated building components. It primarily caters to residential and commercial construction sectors across North America and Latin America, offering custom, energy-efficient solutions for new construction and renovation projects.
PIII vs TGLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $384.8M | $245.3M |
| Net Profit | $-75.5M | $26.1M |
| Gross Margin | — | 40.0% |
| Operating Margin | -40.0% | 18.3% |
| Net Margin | -19.6% | 10.6% |
| Revenue YoY | 3.8% | 2.4% |
| Net Profit YoY | -28.8% | -44.5% |
| EPS (diluted) | $-23.08 | $0.57 |
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 | $384.8M | $245.3M | ||
| Q3 25 | $345.3M | $260.5M | ||
| Q2 25 | $355.8M | $255.5M | ||
| Q1 25 | $373.2M | $222.3M | ||
| Q4 24 | $370.7M | $239.6M | ||
| Q3 24 | $362.1M | $238.3M | ||
| Q2 24 | $379.2M | $219.7M | ||
| Q1 24 | $388.5M | $192.6M |
| Q4 25 | $-75.5M | $26.1M | ||
| Q3 25 | $-31.6M | $47.2M | ||
| Q2 25 | $-20.4M | $44.1M | ||
| Q1 25 | $-20.5M | $42.2M | ||
| Q4 24 | $-58.6M | $47.0M | ||
| Q3 24 | $-46.5M | $49.5M | ||
| Q2 24 | $-12.0M | $35.0M | ||
| Q1 24 | $-18.7M | $29.7M |
| Q4 25 | — | 40.0% | ||
| Q3 25 | — | 42.7% | ||
| Q2 25 | — | 44.7% | ||
| Q1 25 | — | 43.9% | ||
| Q4 24 | — | 44.5% | ||
| Q3 24 | — | 45.8% | ||
| Q2 24 | — | 40.8% | ||
| Q1 24 | — | 38.8% |
| Q4 25 | -40.0% | 18.3% | ||
| Q3 25 | -12.8% | 25.1% | ||
| Q2 25 | -9.6% | 24.0% | ||
| Q1 25 | -10.2% | 26.7% | ||
| Q4 24 | -37.4% | 28.0% | ||
| Q3 24 | -29.5% | 28.4% | ||
| Q2 24 | -8.3% | 23.3% | ||
| Q1 24 | -11.3% | 21.3% |
| Q4 25 | -19.6% | 10.6% | ||
| Q3 25 | -9.1% | 18.1% | ||
| Q2 25 | -5.7% | 17.3% | ||
| Q1 25 | -5.5% | 19.0% | ||
| Q4 24 | -15.8% | 19.6% | ||
| Q3 24 | -12.8% | 20.8% | ||
| Q2 24 | -3.2% | 15.9% | ||
| Q1 24 | -4.8% | 15.4% |
| Q4 25 | $-23.08 | $0.57 | ||
| Q3 25 | $-9.67 | $1.01 | ||
| Q2 25 | $-6.23 | $0.94 | ||
| Q1 25 | $-6.28 | $0.90 | ||
| Q4 24 | $-23.13 | $1.00 | ||
| Q3 24 | $-15.70 | $1.05 | ||
| Q2 24 | $-7.37 | $0.75 | ||
| Q1 24 | $-7.86 | $0.63 |
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 | $104.1M |
| Total DebtLower is stronger | $228.4M | $174.4M |
| Stockholders' EquityBook value | $-155.2M | $713.1M |
| Total Assets | $656.6M | $1.3B |
| Debt / EquityLower = less leverage | — | 0.24× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $25.0M | $104.1M | ||
| Q3 25 | $37.7M | $127.1M | ||
| Q2 25 | $38.6M | $140.9M | ||
| Q1 25 | $40.1M | $160.2M | ||
| Q4 24 | $38.8M | $137.5M | ||
| Q3 24 | $63.0M | $124.8M | ||
| Q2 24 | $73.1M | $129.5M | ||
| Q1 24 | $27.3M | $138.8M |
| Q4 25 | $228.4M | $174.4M | ||
| Q3 25 | $252.8M | $114.7M | ||
| Q2 25 | $182.0M | $110.6M | ||
| Q1 25 | $171.1M | $110.6M | ||
| Q4 24 | $108.9M | $111.1M | ||
| Q3 24 | $133.2M | $126.8M | ||
| Q2 24 | $133.1M | $144.7M | ||
| Q1 24 | $118.1M | $160.9M |
| Q4 25 | $-155.2M | $713.1M | ||
| Q3 25 | $-18.7M | $764.0M | ||
| Q2 25 | $44.5M | $736.0M | ||
| Q1 25 | $63.3M | $685.1M | ||
| Q4 24 | $75.9M | $631.2M | ||
| Q3 24 | $120.5M | $613.3M | ||
| Q2 24 | $166.8M | $574.8M | ||
| Q1 24 | $146.6M | $573.6M |
| Q4 25 | $656.6M | $1.3B | ||
| Q3 25 | $683.6M | $1.2B | ||
| Q2 25 | $731.6M | $1.2B | ||
| Q1 25 | $783.9M | $1.1B | ||
| Q4 24 | $783.4M | $1.0B | ||
| Q3 24 | $833.3M | $996.3M | ||
| Q2 24 | $892.8M | $942.5M | ||
| Q1 24 | $855.9M | $981.6M |
| Q4 25 | — | 0.24× | ||
| Q3 25 | — | 0.15× | ||
| Q2 25 | 4.09× | 0.15× | ||
| Q1 25 | 2.71× | 0.16× | ||
| Q4 24 | 1.43× | 0.18× | ||
| Q3 24 | 1.11× | 0.21× | ||
| Q2 24 | 0.80× | 0.25× | ||
| Q1 24 | 0.81× | 0.28× |
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 | $31.0M |
| Free Cash FlowOCF − Capex | — | $11.4M |
| FCF MarginFCF / Revenue | — | 4.7% |
| Capex IntensityCapex / Revenue | — | 8.0% |
| Cash ConversionOCF / Net Profit | — | 1.19× |
| TTM Free Cash FlowTrailing 4 quarters | — | $34.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-25.7M | $31.0M | ||
| Q3 25 | $-15.4M | $40.0M | ||
| Q2 25 | $-16.6M | $17.9M | ||
| Q1 25 | $-33.5M | $46.9M | ||
| Q4 24 | $-57.2M | $61.1M | ||
| Q3 24 | $-22.6M | $41.5M | ||
| Q2 24 | $-10.2M | $34.5M | ||
| Q1 24 | $-20.0M | $33.4M |
| Q4 25 | — | $11.4M | ||
| Q3 25 | — | $21.2M | ||
| Q2 25 | — | $-14.7M | ||
| Q1 25 | — | $16.5M | ||
| Q4 24 | — | $35.4M | ||
| Q3 24 | — | $17.8M | ||
| Q2 24 | — | $14.2M | ||
| Q1 24 | — | $23.6M |
| Q4 25 | — | 4.7% | ||
| Q3 25 | — | 8.2% | ||
| Q2 25 | — | -5.7% | ||
| Q1 25 | — | 7.4% | ||
| Q4 24 | — | 14.8% | ||
| Q3 24 | — | 7.5% | ||
| Q2 24 | — | 6.5% | ||
| Q1 24 | — | 12.2% |
| Q4 25 | — | 8.0% | ||
| Q3 25 | — | 7.2% | ||
| Q2 25 | — | 12.7% | ||
| Q1 25 | — | 13.7% | ||
| Q4 24 | 0.0% | 10.7% | ||
| Q3 24 | 0.0% | 9.9% | ||
| Q2 24 | 0.0% | 9.2% | ||
| Q1 24 | 0.0% | 5.1% |
| Q4 25 | — | 1.19× | ||
| Q3 25 | — | 0.85× | ||
| Q2 25 | — | 0.41× | ||
| Q1 25 | — | 1.11× | ||
| Q4 24 | — | 1.30× | ||
| Q3 24 | — | 0.84× | ||
| Q2 24 | — | 0.98× | ||
| Q1 24 | — | 1.13× |
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% |
TGLS
| Product Sales | $164.2M | 67% |
| Fixed Price Contracts | $81.1M | 33% |
| Related Party | $692.0K | 0% |
