vs
P3 Health Partners Inc.（PIII）与SCANSOURCE, INC.（SCSC）财务数据对比。点击上方公司名可切换其他公司
SCANSOURCE, INC.的季度营收约是P3 Health Partners Inc.的2.0倍（$766.5M vs $384.8M），SCANSOURCE, INC.净利率更高（2.2% vs -19.6%，领先21.8%），P3 Health Partners Inc.同比增速更快（3.8% vs 2.5%），过去两年SCANSOURCE, INC.的营收复合增速更高（0.9% vs -0.5%）
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。
ScanSource是全球领先的专业技术分销商，主营销售点系统、条码扫描设备、网络安全产品、云服务及通信解决方案，面向北美、拉美、欧洲的增值经销商、服务提供商及企业客户，覆盖零售、医疗、工业、公共部门等领域。
PIII vs SCSC — 直观对比
营收规模更大
SCSC
是对方的2.0倍
$384.8M
营收增速更快
PIII
高出1.3%
2.5%
净利率更高
SCSC
高出21.8%
-19.6%
两年增速更快
SCSC
近两年复合增速
-0.5%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $384.8M | $766.5M |
| 净利润 | $-75.5M | $16.5M |
| 毛利率 | — | 13.4% |
| 营业利润率 | -40.0% | 2.3% |
| 净利率 | -19.6% | 2.2% |
| 营收同比 | 3.8% | 2.5% |
| 净利润同比 | -28.8% | -3.3% |
| 每股收益（稀释后） | $-23.08 | $0.75 |
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PIIISCSC
| Q4 25 | $384.8M | $766.5M | ||
| Q3 25 | $345.3M | $739.6M | ||
| Q2 25 | $355.8M | $812.9M | ||
| Q1 25 | $373.2M | $704.8M | ||
| Q4 24 | $370.7M | $747.5M | ||
| Q3 24 | $362.1M | $775.6M | ||
| Q2 24 | $379.2M | $746.1M | ||
| Q1 24 | $388.5M | $752.6M |
净利润PIIISCSC
| Q4 25 | $-75.5M | $16.5M | ||
| Q3 25 | $-31.6M | $19.9M | ||
| Q2 25 | $-20.4M | $20.1M | ||
| Q1 25 | $-20.5M | $17.4M | ||
| Q4 24 | $-58.6M | $17.1M | ||
| Q3 24 | $-46.5M | $17.0M | ||
| Q2 24 | $-12.0M | $16.1M | ||
| Q1 24 | $-18.7M | $12.8M |
毛利率PIIISCSC
| Q4 25 | — | 13.4% | ||
| Q3 25 | — | 14.5% | ||
| Q2 25 | — | 12.9% | ||
| Q1 25 | — | 14.2% | ||
| Q4 24 | — | 13.6% | ||
| Q3 24 | — | 13.1% | ||
| Q2 24 | — | 13.0% | ||
| Q1 24 | — | 12.6% |
营业利润率PIIISCSC
| Q4 25 | -40.0% | 2.3% | ||
| Q3 25 | -12.8% | 3.5% | ||
| Q2 25 | -9.6% | 3.3% | ||
| Q1 25 | -10.2% | 3.2% | ||
| Q4 24 | -37.4% | 2.5% | ||
| Q3 24 | -29.5% | 2.3% | ||
| Q2 24 | -8.3% | 2.9% | ||
| Q1 24 | -11.3% | 2.3% |
净利率PIIISCSC
| Q4 25 | -19.6% | 2.2% | ||
| Q3 25 | -9.1% | 2.7% | ||
| Q2 25 | -5.7% | 2.5% | ||
| Q1 25 | -5.5% | 2.5% | ||
| Q4 24 | -15.8% | 2.3% | ||
| Q3 24 | -12.8% | 2.2% | ||
| Q2 24 | -3.2% | 2.2% | ||
| Q1 24 | -4.8% | 1.7% |
每股收益（稀释后）PIIISCSC
| Q4 25 | $-23.08 | $0.75 | ||
| Q3 25 | $-9.67 | $0.89 | ||
| Q2 25 | $-6.23 | $0.87 | ||
| Q1 25 | $-6.28 | $0.74 | ||
| Q4 24 | $-23.13 | $0.70 | ||
| Q3 24 | $-15.70 | $0.69 | ||
| Q2 24 | $-7.37 | $0.66 | ||
| Q1 24 | $-7.86 | $0.50 |
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 | $83.5M |
| 总债务越低越好 | $228.4M | — |
| 股东权益账面价值 | $-155.2M | $910.9M |
| 总资产 | $656.6M | $1.7B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资PIIISCSC
| Q4 25 | $25.0M | $83.5M | ||
| Q3 25 | $37.7M | $124.9M | ||
| Q2 25 | $38.6M | $126.2M | ||
| Q1 25 | $40.1M | $146.3M | ||
| Q4 24 | $38.8M | $110.5M | ||
| Q3 24 | $63.0M | $145.0M | ||
| Q2 24 | $73.1M | $185.5M | ||
| Q1 24 | $27.3M | $159.1M |
总债务PIIISCSC
| Q4 25 | $228.4M | — | ||
| Q3 25 | $252.8M | — | ||
| Q2 25 | $182.0M | — | ||
| Q1 25 | $171.1M | — | ||
| Q4 24 | $108.9M | — | ||
| Q3 24 | $133.2M | — | ||
| Q2 24 | $133.1M | — | ||
| Q1 24 | $118.1M | — |
股东权益PIIISCSC
| Q4 25 | $-155.2M | $910.9M | ||
| Q3 25 | $-18.7M | $914.0M | ||
| Q2 25 | $44.5M | $906.4M | ||
| Q1 25 | $63.3M | $901.7M | ||
| Q4 24 | $75.9M | $900.7M | ||
| Q3 24 | $120.5M | $920.9M | ||
| Q2 24 | $166.8M | $924.3M | ||
| Q1 24 | $146.6M | $944.1M |
总资产PIIISCSC
| Q4 25 | $656.6M | $1.7B | ||
| Q3 25 | $683.6M | $1.7B | ||
| Q2 25 | $731.6M | $1.8B | ||
| Q1 25 | $783.9M | $1.7B | ||
| Q4 24 | $783.4M | $1.7B | ||
| Q3 24 | $833.3M | $1.8B | ||
| Q2 24 | $892.8M | $1.8B | ||
| Q1 24 | $855.9M | $1.8B |
负债/权益比PIIISCSC
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 4.09× | — | ||
| Q1 25 | 2.71× | — | ||
| Q4 24 | 1.43× | — | ||
| Q3 24 | 1.11× | — | ||
| Q2 24 | 0.80× | — | ||
| Q1 24 | 0.81× | — |
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 | $30.8M |
| 自由现金流经营现金流 - 资本支出 | — | $28.9M |
| 自由现金流率自由现金流/营收 | — | 3.8% |
| 资本支出强度资本支出/营收 | — | 0.3% |
| 现金转化率经营现金流/净利润 | — | 1.87× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流PIIISCSC
| Q4 25 | $-25.7M | $30.8M | ||
| Q3 25 | $-15.4M | $23.2M | ||
| Q2 25 | $-16.6M | — | ||
| Q1 25 | $-33.5M | $66.1M | ||
| Q4 24 | $-57.2M | $-6.2M | ||
| Q3 24 | $-22.6M | $44.8M | ||
| Q2 24 | $-10.2M | — | ||
| Q1 24 | $-20.0M | $160.2M |
自由现金流PIIISCSC
| Q4 25 | — | $28.9M | ||
| Q3 25 | — | $20.8M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $64.6M | ||
| Q4 24 | — | $-8.2M | ||
| Q3 24 | — | $42.5M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $157.7M |
自由现金流率PIIISCSC
| Q4 25 | — | 3.8% | ||
| Q3 25 | — | 2.8% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 9.2% | ||
| Q4 24 | — | -1.1% | ||
| Q3 24 | — | 5.5% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 21.0% |
资本支出强度PIIISCSC
| Q4 25 | — | 0.3% | ||
| Q3 25 | — | 0.3% | ||
| Q2 25 | — | 0.3% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | 0.0% | 0.3% | ||
| Q3 24 | 0.0% | 0.3% | ||
| Q2 24 | 0.0% | 0.2% | ||
| Q1 24 | 0.0% | 0.3% |
现金转化率PIIISCSC
| Q4 25 | — | 1.87× | ||
| Q3 25 | — | 1.17× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 3.79× | ||
| Q4 24 | — | -0.36× | ||
| Q3 24 | — | 2.64× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 12.51× |
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% |
SCSC
| Products And Services | $723.4M | 94% |
| Intelisys Advisory | $25.0M | 3% |
| Recurring Revenue | $18.2M | 2% |
