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P3 Health Partners Inc.（PIII）与GIBRALTAR INDUSTRIES, INC.（ROCK）财务数据对比。点击上方公司名可切换其他公司
P3 Health Partners Inc.的季度营收约是GIBRALTAR INDUSTRIES, INC.的1.7倍（$384.8M vs $225.0M），GIBRALTAR INDUSTRIES, INC.同比增速更快（24.9% vs 3.8%），过去两年P3 Health Partners Inc.的营收复合增速更高（-0.5% vs -12.3%）
P3 Health Partners Inc.是一家总部位于美国的人口健康管理与价值型医疗服务企业，与基层医疗机构及医疗系统合作，为包括联邦医保优势计划参保者在内的人群提供协同优质医疗服务，致力于提升诊疗效果、降低不必要的医疗开支。
直布罗陀工业公司是专业建筑、基础设施及可再生能源产品制造商与分销商，主营通风系统、屋面配件、太阳能安装支架、园林景观产品等，主要服务北美地区住宅、商业建筑及清洁能源市场，专注提供创新可持续的客户解决方案。
PIII vs ROCK — 直观对比
营收规模更大
PIII
是对方的1.7倍
$225.0M
营收增速更快
ROCK
高出21.1%
3.8%
两年增速更快
PIII
近两年复合增速
-12.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $384.8M | $225.0M |
| 净利润 | $-75.5M | — |
| 毛利率 | — | 25.3% |
| 营业利润率 | -40.0% | 7.9% |
| 净利率 | -19.6% | — |
| 营收同比 | 3.8% | 24.9% |
| 净利润同比 | -28.8% | — |
| 每股收益（稀释后） | $-23.08 | — |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收PIIIROCK
| Q4 25 | $384.8M | $225.0M | ||
| Q3 25 | $345.3M | $310.9M | ||
| Q2 25 | $355.8M | $309.5M | ||
| Q1 25 | $373.2M | $290.0M | ||
| Q4 24 | $370.7M | $180.1M | ||
| Q3 24 | $362.1M | $277.1M | ||
| Q2 24 | $379.2M | $273.6M | ||
| Q1 24 | $388.5M | $292.5M |
净利润PIIIROCK
| Q4 25 | $-75.5M | — | ||
| Q3 25 | $-31.6M | $-89.1M | ||
| Q2 25 | $-20.4M | $26.0M | ||
| Q1 25 | $-20.5M | $21.1M | ||
| Q4 24 | $-58.6M | — | ||
| Q3 24 | $-46.5M | $34.0M | ||
| Q2 24 | $-12.0M | $32.2M | ||
| Q1 24 | $-18.7M | $24.9M |
毛利率PIIIROCK
| Q4 25 | — | 25.3% | ||
| Q3 25 | — | 26.6% | ||
| Q2 25 | — | 28.4% | ||
| Q1 25 | — | 26.8% | ||
| Q4 24 | — | 29.0% | ||
| Q3 24 | — | 29.4% | ||
| Q2 24 | — | 30.5% | ||
| Q1 24 | — | 28.9% |
营业利润率PIIIROCK
| Q4 25 | -40.0% | 7.9% | ||
| Q3 25 | -12.8% | 12.8% | ||
| Q2 25 | -9.6% | 12.8% | ||
| Q1 25 | -10.2% | 8.8% | ||
| Q4 24 | -37.4% | 13.3% | ||
| Q3 24 | -29.5% | 15.6% | ||
| Q2 24 | -8.3% | 14.9% | ||
| Q1 24 | -11.3% | 10.8% |
净利率PIIIROCK
| Q4 25 | -19.6% | — | ||
| Q3 25 | -9.1% | -28.6% | ||
| Q2 25 | -5.7% | 8.4% | ||
| Q1 25 | -5.5% | 7.3% | ||
| Q4 24 | -15.8% | — | ||
| Q3 24 | -12.8% | 12.3% | ||
| Q2 24 | -3.2% | 11.8% | ||
| Q1 24 | -4.8% | 8.5% |
每股收益（稀释后）PIIIROCK
| Q4 25 | $-23.08 | — | ||
| Q3 25 | $-9.67 | $-2.98 | ||
| Q2 25 | $-6.23 | $0.87 | ||
| Q1 25 | $-6.28 | — | ||
| Q4 24 | $-23.13 | — | ||
| Q3 24 | $-15.70 | $1.11 | ||
| Q2 24 | $-7.37 | $1.05 | ||
| Q1 24 | $-7.86 | — |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $25.0M | $115.7M |
| 总债务越低越好 | $228.4M | $0 |
| 股东权益账面价值 | $-155.2M | $950.4M |
| 总资产 | $656.6M | $1.4B |
| 负债/权益比越低杠杆越低 | — | 0.00× |
8季度趋势，按日历期对齐
现金及短期投资PIIIROCK
| Q4 25 | $25.0M | $115.7M | ||
| Q3 25 | $37.7M | $89.4M | ||
| Q2 25 | $38.6M | $43.3M | ||
| Q1 25 | $40.1M | $25.1M | ||
| Q4 24 | $38.8M | $269.5M | ||
| Q3 24 | $63.0M | $228.9M | ||
| Q2 24 | $73.1M | $179.1M | ||
| Q1 24 | $27.3M | $146.7M |
总债务PIIIROCK
| Q4 25 | $228.4M | $0 | ||
| Q3 25 | $252.8M | $0 | ||
| Q2 25 | $182.0M | $0 | ||
| Q1 25 | $171.1M | $0 | ||
| Q4 24 | $108.9M | $0 | ||
| Q3 24 | $133.2M | $0 | ||
| Q2 24 | $133.1M | $0 | ||
| Q1 24 | $118.1M | $0 |
股东权益PIIIROCK
| Q4 25 | $-155.2M | $950.4M | ||
| Q3 25 | $-18.7M | $951.8M | ||
| Q2 25 | $44.5M | $1.0B | ||
| Q1 25 | $63.3M | $1.0B | ||
| Q4 24 | $75.9M | $1.0B | ||
| Q3 24 | $120.5M | $1.0B | ||
| Q2 24 | $166.8M | $975.7M | ||
| Q1 24 | $146.6M | $940.2M |
总资产PIIIROCK
| Q4 25 | $656.6M | $1.4B | ||
| Q3 25 | $683.6M | $1.4B | ||
| Q2 25 | $731.6M | $1.5B | ||
| Q1 25 | $783.9M | $1.4B | ||
| Q4 24 | $783.4M | $1.4B | ||
| Q3 24 | $833.3M | $1.4B | ||
| Q2 24 | $892.8M | $1.4B | ||
| Q1 24 | $855.9M | $1.3B |
负债/权益比PIIIROCK
| Q4 25 | — | 0.00× | ||
| Q3 25 | — | 0.00× | ||
| Q2 25 | 4.09× | 0.00× | ||
| Q1 25 | 2.71× | 0.00× | ||
| Q4 24 | 1.43× | 0.00× | ||
| Q3 24 | 1.11× | 0.00× | ||
| Q2 24 | 0.80× | 0.00× | ||
| Q1 24 | 0.81× | 0.00× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $-25.7M | $35.5M |
| 自由现金流经营现金流 - 资本支出 | — | $26.2M |
| 自由现金流率自由现金流/营收 | — | 11.7% |
| 资本支出强度资本支出/营收 | — | 4.1% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | — | $120.6M |
8季度趋势，按日历期对齐
经营现金流PIIIROCK
| Q4 25 | $-25.7M | $35.5M | ||
| Q3 25 | $-15.4M | $73.0M | ||
| Q2 25 | $-16.6M | $44.9M | ||
| Q1 25 | $-33.5M | $13.7M | ||
| Q4 24 | $-57.2M | $19.9M | ||
| Q3 24 | $-22.6M | $64.7M | ||
| Q2 24 | $-10.2M | $36.5M | ||
| Q1 24 | $-20.0M | $53.2M |
自由现金流PIIIROCK
| Q4 25 | — | $26.2M | ||
| Q3 25 | — | $64.8M | ||
| Q2 25 | — | $27.3M | ||
| Q1 25 | — | $2.3M | ||
| Q4 24 | — | $14.1M | ||
| Q3 24 | — | $60.5M | ||
| Q2 24 | — | $33.5M | ||
| Q1 24 | — | $48.8M |
自由现金流率PIIIROCK
| Q4 25 | — | 11.7% | ||
| Q3 25 | — | 20.8% | ||
| Q2 25 | — | 8.8% | ||
| Q1 25 | — | 0.8% | ||
| Q4 24 | — | 7.8% | ||
| Q3 24 | — | 21.8% | ||
| Q2 24 | — | 12.2% | ||
| Q1 24 | — | 16.7% |
资本支出强度PIIIROCK
| Q4 25 | — | 4.1% | ||
| Q3 25 | — | 2.6% | ||
| Q2 25 | — | 5.7% | ||
| Q1 25 | — | 3.9% | ||
| Q4 24 | 0.0% | 3.3% | ||
| Q3 24 | 0.0% | 1.5% | ||
| Q2 24 | 0.0% | 1.1% | ||
| Q1 24 | 0.0% | 1.5% |
现金转化率PIIIROCK
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 1.73× | ||
| Q1 25 | — | 0.65× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.90× | ||
| Q2 24 | — | 1.13× | ||
| Q1 24 | — | 2.13× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
PIII
| Capitated Revenue | $366.2M | 95% |
| Health Care Patient Service | $18.6M | 5% |
| Health Care Care Coordination Management Fees | $2.7M | 1% |
ROCK
| Transferred At Point In Time | $183.5M | 82% |
| Infrastructure | $22.5M | 10% |
| Other | $18.9M | 8% |
