P3 Health Partners Inc
PIIIBuild a strategy around PIII
P3 Health Partners Inc AI Insights
Informational only. Not investment advice.Snapshot
- Negative equity (-18.7M) with goodwill of 513M representing 75% of total assets - balance sheet structurally impaired[Common Stockholders Equity]
- Cash of 37.7M vs quarterly burn of ~31M implies <5 quarters runway without capital raise[Cash and Equivalents]
- Market cap of 16.5M vs 1.4B TTM revenue = P/S of 0.01x, pricing in severe distress or dilution[P/S Ratio]
Watch Triggers
- Cash and Equivalents: Falls below 20M or capital raise announced — Triggers forced dilution or restructuring event
- Operating Margin TTM: Improves to better than -10% — Would signal turnaround potential and extend runway
- Total Revenue TTM: Returns to positive YoY growth — Revenue decline while burning cash accelerates distress
Bull Case
Revenue of 1.4B at 0.01x P/S offers asymmetric upside if company achieves breakeven - turnaround optionality at distressed valuation
Asset turnover of 1.9x (vs 0.79x industry median) shows operational efficiency; losses are margin issue not revenue generation
Bear Case
Negative equity, 265M debt, and -123M FCF create existential risk; any capital raise at 16.5M market cap means massive dilution
Operating margin of -17% with revenue declining -4.7% YoY shows no path to profitability visible in current trajectory
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
Leverage PIII's top insights and create a custom strategy based on them in seconds. Our AI editor does it all — in one click.
Forward Thesis
Capital raise or restructuring likely within 12 months given cash runway constraints
- FCF burn of -123M TTM unsustainable
- Total debt of 265M with negative equity
- Working capital deficit of -288M
Valuation Context
Caveats
Public Strategies Rankings
See how P3 Health Partners Inc ranks across different investment strategies.
Leverage PIII's top insights and create a custom strategy in seconds. Our AI editor does it all — in one click.
PIII Fundamentals
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$7.03M | — | ||
$234.27M | — | ||
0.00 | — | ||
$1.44B | -2.1% | — | |
$-60.91 | — | ||
-17.1% | -0.4% | — | |
-9.07% | -2.1% | — | |
$-122.87M | — | ||
0.00 | — | ||
Beta 5Y (Monthly) | unknown | — |
PIII Dividend History
PIII Stock Splits
PIII SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
11/14/25 | 09/30/25 | 10-Q | |
08/14/25 | 06/30/25 | 10-Q | |
05/15/25 | 03/31/25 | 10-Q | |
03/28/25 | 12/31/24 | 10-K | |
11/12/24 | 09/30/24 | 10-Q | |
08/07/24 | 06/30/24 | 10-Q | |
05/08/24 | 03/31/24 | 10-Q | |
03/28/24 | 12/31/23 | 10-K | |
11/08/23 | 09/30/23 | 10-Q | |
08/07/23 | 06/30/23 | 10-Q | |
05/10/23 | 03/31/23 | 10-Q | |
03/31/23 | 12/31/22 | 10-K | |
11/14/22 | 09/30/22 | 10-Q | |
10/21/22 | 06/30/22 | 10-Q | |
10/21/22 | 03/31/22 | 10-Q | |
10/21/22 | 12/31/21 | 10-K | |
11/14/22 | 09/30/21 | 10-Q | |
11/29/21 | 06/30/21 | NT 10-Q | |
10/21/22 | 03/31/21 | 10-Q | |
11/29/21 | 06/30/20 | Quarterly | -- |