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P3 Health Partners Inc. (PIIIW) stock analysis

PIIIWNasdaqServices-Health ServicesFiscal year ends December 31Also trades as PIII
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 10, 2026Score 4/30
$0.01+0.00 (+14.89%)

Close on Oct 30, 2026Market cap $29.26MP/E –Yield –

StockData Score

Prices as of Oct 30, 2026How the score works

Value1Growth1Performance2Health0Dividend0

Weak4 of 30 checks passed

P3 Health Partners passes 4 of the 30 checks behind our score; 18 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.

Valuation
1/6
Growth
1/6
Past performance
2/6
Financial health
0/6
Dividend
0/6

What stands out

  • Revenue growing 10%+ a year

    Revenue grew 11.6% a year over the last three fiscal years.

  • P/S below the industry

    P3 Health Partners's price-to-sales of 0.02 is below the Health Services median of 1.32 (book value is negative, so we use sales).

  • Net margin above its 5-year average

    Net margin was -6.6% over the last twelve months, against a 5-year average of -12.4%.

  • Net margin above the industry

    P3 Health Partners's net margin of -6.6% is above the Health Services median of -15.0%.

What to watch

  • Return on capital under 10%

    Return on invested capital was -62.4%, below the 10% that usually covers the cost of capital.

  • Debt not well covered by cash flow

    Operating cash flow over the last twelve months equals -109% of total debt; we look for at least 20%.

  • Elevated bankruptcy risk

    The Altman Z-score is -0.18; above 3 is the safe zone and below 1.8 the distress zone.

  • Guidance lowered

    P3 Health Partners lowered its Year Ended December 31, 2025 Medical Margin PMPM outlook on Nov 14, 2025.

Valuation1/6

  • P/E against its history

    Not enough price and earnings history to compare.

  • P/E against the industry

    Needs positive earnings and enough profitable companies in the industry.

  • EV/EBITDA against its history

    Needs positive EBITDA and price history.

  • P/S below the industry

    P3 Health Partners's price-to-sales of 0.02 is below the Health Services median of 1.32 (book value is negative, so we use sales).

  • Price against fair value

    We could not estimate a fair value: it needs at least two valuation methods with positive inputs.

  • Margin of safety

    Depends on the fair value estimate.

Growth1/6

  • Revenue growing 10%+ a year

    Revenue grew 11.6% a year over the last three fiscal years.

  • EPS growth over 3 years

    Needs positive EPS three years ago and today.

  • Earnings acceleration

    Needs positive net income now, a year ago and five years ago.

  • Growing slower than the industry

    Revenue grew 2.8% over the last twelve months; the Health Services median is 22.2%.

  • Guidance lowered

    P3 Health Partners lowered its Year Ended December 31, 2025 Medical Margin PMPM outlook on Nov 14, 2025.

  • Gross margin trend

    This company does not report gross profit.

Past performance2/6

  • Return on equity

    Needs positive equity and five years of results.

  • Return on capital under 10%

    Return on invested capital was -62.4%, below the 10% that usually covers the cost of capital.

  • Return on equity below the industry

    P3 Health Partners's return on equity of -221% is below the Health Services median of -3.1%.

  • Earnings over 5 years

    Needs positive net income five years ago and in the latest year.

  • Net margin above its 5-year average

    Net margin was -6.6% over the last twelve months, against a 5-year average of -12.4%.

  • Net margin above the industry

    P3 Health Partners's net margin of -6.6% is above the Health Services median of -15.0%.

Financial health0/6

  • Debt level

    Needs debt and equity figures.

  • Debt trend

    Needs a balance sheet from five years ago with positive equity.

  • Debt not well covered by cash flow

    Operating cash flow over the last twelve months equals -109% of total debt; we look for at least 20%.

  • Interest coverage

    Interest expense is not reported separately.

  • Short-term assets don't cover short-term debts

    Current assets are 0.46 times current liabilities.

  • Elevated bankruptcy risk

    The Altman Z-score is -0.18; above 3 is the safe zone and below 1.8 the distress zone.

Dividend0/6

  • No dividend

    P3 Health Partners has not paid a dividend in the last twelve months.

  • Yield against Treasuries

    No dividend.

  • Yield against the market

    No dividend.

  • Dividend stability

    No dividend.

  • Earnings cover

    No dividend.

  • Cash-flow cover

    No dividend.

Scores of similar companies

Fair value

How we estimate it

We don't publish a fair value for P3 Health Partners. It needs a US-dollar share price, at least two valuation methods with positive inputs (earnings, EBITDA, book value or sales) and, for companies with several share classes, classes that trade at the same price.

Valuation over time

Using the earnings and balance sheet published at each date, not today's.

  • P/B at month end
  • Own 5-year median 0.6
  • Health Services median 3.5

An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.

Market risk

From the past year of daily prices.

Liquidity

High risk

Average value traded per day
$67.27K
Value traded per 1% price move
$18.63K

Downside

High risk

Typical loss in a bad month
48.0%
Volatility (annualized)
219%
Sharpe ratio, 1 year
-0.26
Beta to the S&P 500 (5Y)
1.22

Typical bad-month loss, week by week

25%: high

Margins

Share of revenue, fiscal years 2018 to 2025

Operating margin

-18.5%−12.7 pts over 5 years

Net margin

-10.1%−3.7 pts over 5 years