GICS Sector : Healthcare
P3 Health Partners Inc., a patient-centered and physician-led population health management company, provides superior care services in the United States.It operates clinics and wellness centers.The company is based in Henderson, Nevada. Show Full description
P3 Health Partners reported total capitated revenue of $341.6 million for the third quarter of 2025, with a medical margin of $4.4 million or $13 per member per month. The company's adjusted EBITDA loss was $45.9 million for the quarter and $85.2 million year-to-date, with a normalized adjusted EBITDA loss of approximately $70 million. The actual EPS came out at '-9.67' relative to estimates at '-5.2925'. The company's membership stood at approximately 116,000 members.
Publication Date: Nov -21
The company is making progress in its Care Enablement Model, driving stabilization across medical management, quality performance, and alignment to population burden of illness. The model has contributed to a flat normalized medical cost trend and is expected to drive $120 million to $170 million in EBITDA expansion opportunities in 2026. The company is also executing on a strategic joint venture and has added 13,000 fully accretive ACO members.
P3 Health Partners has revised its full-year adjusted EBITDA guidance to a range of minus $110 million to minus $95 million. The company expects a 5% net improvement in premium in 2026, driven by rate increases, and is seeing improvements in burden of illness operations. Analysts estimate next year's revenue growth at 11.5%. The company's guidance reduction was partly due to old processes that have been corrected, and a smaller portion was related to delayed medical cost initiatives that will be implemented in 2026.
The company's valuation metrics indicate a challenging financial situation, with a P/E Ratio of -0.11, P/B Ratio of -1.03, and EV/EBITDA of -0.17. The company's ROE is -409.55%, and ROIC is -72.69%. The Net Debt / EBITDA ratio is -0.07, indicating a relatively low debt burden. As the company works to improve its EBITDA and achieve profitability, these metrics are expected to improve.
P3 Health Partners is working to address non-core assets that are dragging on performance and is expecting contractual adjustments in one of its markets to contribute to EBITDA expansion in 2026. The company is also improving its relationships with payors and expects to eliminate miscommunications and late communications, contributing to its growth. With a more durable business foundation in place, the company is poised for meaningful profitability in 2026.
P3 Health Partners (NASDAQ:PIII) & CVR Medical (OTCMKTS:CRRVF) Head to Head Contrast
Dec -03
P3 Expands Footprint Through Joint Venture With Commonwealth Primary Care ACO
Dec -02
P3 Health Partners to Present at the Noble Capital Markets 21st Annual Emerging Growth Equity Conference
Nov -24
P3 Health Partners Inc. (PIII) Q3 2025 Earnings Call Transcript
Nov -14
P3 Health Partners Schedules Third Quarter 2025 Earnings Release and Conference Call
Oct -21
Financial Review: P3 Health Partners (NASDAQ:PIII) vs. Clover Health Investments (NASDAQ:CLOV)
Oct -20
Catalyst Solutions Announces Successful Launch of P3 Implementation Across Four States
Aug -25
P3 Health Partners Inc. (PIII) Q2 2025 Earnings Call Transcript
Aug -15
P3 Health Partners Inc.'s 12% capitated growth driven by increasing demand for value-based care, expansion into new markets, and strategic partnerships. Additionally, the company's focus on population health management, care coordination, and cost reduction initiatives contribute to its growth. Furthermore, the shift towards risk-based reimbursement models and the need for healthcare providers to manage patient populations more effectively also support this growth.
P3 Health Partners Inc.'s 11% growth in Other Patient Service - Care Coordination/Management Fees is driven by increasing adoption of value-based care, rising demand for care coordination services, and expansion into new markets. Additionally, the company's focus on improving patient outcomes and reducing healthcare costs through its care management programs has contributed to the growth.
P3 Health Partners Inc.'s 10% growth in Other Patient Service - Clinical Fees & Insurance is driven by increasing demand for value-based care, expansion into new markets, and strategic partnerships. Additionally, investments in digital health infrastructure and enhanced patient engagement platforms have improved operational efficiency, leading to higher revenue capture.
P3 Health Partners Inc.'s 9% growth in Other Patient Service - Incentive Fees is driven by increasing adoption of value-based care models, expansion into new markets, and strategic partnerships with healthcare providers. Additionally, the company's focus on population health management and care coordination has led to improved patient outcomes, resulting in higher incentive fees.
A comprehensive platform that aggregates and analyzes patient data to identify gaps in care, improve health outcomes, and reduce costs.
A service that facilitates communication and collaboration between healthcare providers, patients, and caregivers to ensure seamless transitions of care.
A payment model that incentivizes healthcare providers to deliver high-quality, cost-effective care by aligning reimbursement with patient outcomes.
A service that helps healthcare providers transition to value-based care by optimizing clinical workflows, implementing new technologies, and developing population health management capabilities.
A data analytics platform that provides actionable insights to healthcare providers, enabling them to identify opportunities for improvement and optimize clinical and financial performance.
P3 Health Partners Inc. operates in a highly competitive industry, but the threat of substitutes is mitigated by the company's focus on value-based care and its ability to adapt to changing market conditions.
P3 Health Partners Inc. has a diverse customer base, but the bargaining power of customers is high due to the highly competitive nature of the industry and the availability of alternative healthcare providers.
P3 Health Partners Inc. has a strong negotiating position with its suppliers due to its large scale of operations and its ability to negotiate favorable contracts.
The threat of new entrants in the healthcare industry is moderate, as there are significant barriers to entry, including regulatory hurdles and the need for significant capital investment.
The healthcare industry is highly competitive, with many established players competing for market share, which increases the intensity of rivalry for P3 Health Partners Inc.
| Value | |
|---|---|
| Debt Weight | 43.86% |
| Debt Cost | 10.19% |
| Equity Weight | 56.14% |
| Equity Cost | 10.19% |
| WACC | 10.19% |
| Leverage | 78.11% |
Value: 9.8
Growth: 4.4
Quality: 2.9
Yield: 0.0
Momentum: 10.0
Volatility: 0.7
1-Year Total Return ->
Value: 9.4
Growth: 3.2
Quality: 4.4
Yield: 0.0
Momentum: 10.0
Volatility: 0.7
1-Year Total Return ->
Value: 9.8
Growth: 8.3
Quality: 4.4
Yield: 0.0
Momentum: 0.0
Volatility: 2.0
1-Year Total Return ->
Value: 3.6
Growth: 4.2
Quality: 2.8
Yield: 0.0
Momentum: 10.0
Volatility: 0.7
1-Year Total Return ->
Value: 10.0
Growth: 2.7
Quality: 5.8
Yield: 0.0
Momentum: 1.0
Volatility: 1.7
1-Year Total Return ->
Value: 4.8
Growth: 3.2
Quality: 3.4
Yield: 0.0
Momentum: 2.5
Volatility: 2.0
1-Year Total Return ->