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Side-by-side financial comparison of P3 Health Partners Inc. (PIII) and WYNDHAM HOTELS & RESORTS, INC. (WH). 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 $334.0M, roughly 1.2× WYNDHAM HOTELS & RESORTS, INC.). WYNDHAM HOTELS & RESORTS, INC. runs the higher net margin — -18.0% vs -19.6%, a 1.7% gap on every dollar of revenue. On growth, P3 Health Partners Inc. posted the faster year-over-year revenue change (3.8% vs -76.3%). Over the past eight quarters, P3 Health Partners Inc.'s revenue compounded faster (-0.5% CAGR vs -4.6%).
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.
Wyndham Hotels & Resorts, Inc., is an American hospitality company based in Parsippany, New Jersey, United States. It describes itself as the largest hotel franchisor in the world, with 9,100 locations.
PIII vs WH — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $384.8M | $334.0M |
| Net Profit | $-75.5M | $-60.0M |
| Gross Margin | — | — |
| Operating Margin | -40.0% | — |
| Net Margin | -19.6% | -18.0% |
| Revenue YoY | 3.8% | -76.3% |
| Net Profit YoY | -28.8% | -170.6% |
| EPS (diluted) | $-23.08 | $-0.80 |
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 | — | $334.0M | ||
| Q4 25 | $384.8M | $334.0M | ||
| Q3 25 | $345.3M | $382.0M | ||
| Q2 25 | $355.8M | $397.0M | ||
| Q1 25 | $373.2M | $316.0M | ||
| Q4 24 | $370.7M | $336.0M | ||
| Q3 24 | $362.1M | $396.0M | ||
| Q2 24 | $379.2M | $367.0M |
| Q1 26 | — | $-60.0M | ||
| Q4 25 | $-75.5M | $-60.0M | ||
| Q3 25 | $-31.6M | $105.0M | ||
| Q2 25 | $-20.4M | $87.0M | ||
| Q1 25 | $-20.5M | $61.0M | ||
| Q4 24 | $-58.6M | $85.0M | ||
| Q3 24 | $-46.5M | $102.0M | ||
| Q2 24 | $-12.0M | $86.0M |
| Q1 26 | — | — | ||
| Q4 25 | -40.0% | -11.4% | ||
| Q3 25 | -12.8% | 46.6% | ||
| Q2 25 | -9.6% | 37.8% | ||
| Q1 25 | -10.2% | 35.4% | ||
| Q4 24 | -37.4% | 38.4% | ||
| Q3 24 | -29.5% | 43.2% | ||
| Q2 24 | -8.3% | 39.5% |
| Q1 26 | — | -18.0% | ||
| Q4 25 | -19.6% | -18.0% | ||
| Q3 25 | -9.1% | 27.5% | ||
| Q2 25 | -5.7% | 21.9% | ||
| Q1 25 | -5.5% | 19.3% | ||
| Q4 24 | -15.8% | 25.3% | ||
| Q3 24 | -12.8% | 25.8% | ||
| Q2 24 | -3.2% | 23.4% |
| Q1 26 | — | $-0.80 | ||
| Q4 25 | $-23.08 | $-0.77 | ||
| Q3 25 | $-9.67 | $1.36 | ||
| Q2 25 | $-6.23 | $1.13 | ||
| Q1 25 | $-6.28 | $0.78 | ||
| Q4 24 | $-23.13 | $1.06 | ||
| Q3 24 | $-15.70 | $1.29 | ||
| Q2 24 | $-7.37 | $1.07 |
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 | $64.0M |
| Total DebtLower is stronger | $228.4M | — |
| Stockholders' EquityBook value | $-155.2M | $468.0M |
| Total Assets | $656.6M | $4.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $64.0M | ||
| Q4 25 | $25.0M | $64.0M | ||
| Q3 25 | $37.7M | $70.0M | ||
| Q2 25 | $38.6M | $50.0M | ||
| Q1 25 | $40.1M | $48.0M | ||
| Q4 24 | $38.8M | $103.0M | ||
| Q3 24 | $63.0M | $72.0M | ||
| Q2 24 | $73.1M | $70.0M |
| Q1 26 | — | — | ||
| Q4 25 | $228.4M | $2.5B | ||
| Q3 25 | $252.8M | $2.6B | ||
| Q2 25 | $182.0M | $2.5B | ||
| Q1 25 | $171.1M | $2.5B | ||
| Q4 24 | $108.9M | $2.4B | ||
| Q3 24 | $133.2M | $2.4B | ||
| Q2 24 | $133.1M | $2.4B |
| Q1 26 | — | $468.0M | ||
| Q4 25 | $-155.2M | $468.0M | ||
| Q3 25 | $-18.7M | $583.0M | ||
| Q2 25 | $44.5M | $570.0M | ||
| Q1 25 | $63.3M | $579.0M | ||
| Q4 24 | $75.9M | $650.0M | ||
| Q3 24 | $120.5M | $583.0M | ||
| Q2 24 | $166.8M | $623.0M |
| Q1 26 | — | $4.2B | ||
| Q4 25 | $656.6M | $4.2B | ||
| Q3 25 | $683.6M | $4.3B | ||
| Q2 25 | $731.6M | $4.3B | ||
| Q1 25 | $783.9M | $4.2B | ||
| Q4 24 | $783.4M | $4.2B | ||
| Q3 24 | $833.3M | $4.2B | ||
| Q2 24 | $892.8M | $4.2B |
| Q1 26 | — | — | ||
| Q4 25 | — | 5.37× | ||
| Q3 25 | — | 4.43× | ||
| Q2 25 | 4.09× | 4.44× | ||
| Q1 25 | 2.71× | 4.29× | ||
| Q4 24 | 1.43× | 3.72× | ||
| Q3 24 | 1.11× | 4.19× | ||
| Q2 24 | 0.80× | 3.83× |
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 | $367.0M |
| Free Cash FlowOCF − Capex | — | $168.0M |
| FCF MarginFCF / Revenue | — | 50.3% |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $437.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $367.0M | ||
| Q4 25 | $-25.7M | $152.0M | ||
| Q3 25 | $-15.4M | $86.0M | ||
| Q2 25 | $-16.6M | $70.0M | ||
| Q1 25 | $-33.5M | $59.0M | ||
| Q4 24 | $-57.2M | $134.0M | ||
| Q3 24 | $-22.6M | $79.0M | ||
| Q2 24 | $-10.2M | $1.0M |
| Q1 26 | — | $168.0M | ||
| Q4 25 | — | $136.0M | ||
| Q3 25 | — | $75.0M | ||
| Q2 25 | — | $58.0M | ||
| Q1 25 | — | $52.0M | ||
| Q4 24 | — | $109.0M | ||
| Q3 24 | — | $71.0M | ||
| Q2 24 | — | $-6.0M |
| Q1 26 | — | 50.3% | ||
| Q4 25 | — | 40.7% | ||
| Q3 25 | — | 19.6% | ||
| Q2 25 | — | 14.6% | ||
| Q1 25 | — | 16.5% | ||
| Q4 24 | — | 32.4% | ||
| Q3 24 | — | 17.9% | ||
| Q2 24 | — | -1.6% |
| Q1 26 | — | — | ||
| Q4 25 | — | 4.8% | ||
| Q3 25 | — | 2.9% | ||
| Q2 25 | — | 3.0% | ||
| Q1 25 | — | 2.2% | ||
| Q4 24 | 0.0% | 7.4% | ||
| Q3 24 | 0.0% | 2.0% | ||
| Q2 24 | 0.0% | 1.9% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 0.82× | ||
| Q2 25 | — | 0.80× | ||
| Q1 25 | — | 0.97× | ||
| Q4 24 | — | 1.58× | ||
| Q3 24 | — | 0.77× | ||
| Q2 24 | — | 0.01× |
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% |
WH
| Fee-related and other revenues | $334.0M | 100% |
| Management and other fees | $2.0M | 1% |
