P3 Health Partners Inc. (PIII)

NEUTRAL

HealthcareMedical Care FacilitiesUnited States

Fundamental

Price

$10.07

Market Cap

$2.04B

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Part 1 · What the company is worth

Overview

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 was founded in 2020 and is based in Henderson, Nevada.

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Direct competitors

Who this company fights with for the same customers

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No competitor list for this company yet.

Balance Sheet & Liquidity

Revenue

$1.50B

Trailing 12 months (through 6/30/2026)

Net Income

$-98M

Trailing 12 months (through 6/30/2026)

Free Cash Flow

Total Equity

$-155M

Total Liabilities

$797M

Current Ratio

0.46

Interest Coverage

2.44

Debt/EBITDA

Earnings Per Share

Revenue & Net Income

Free Cash Flow

Income Breakdown

Historical statement

Margins over time

Debt over time

How heavy the debt is

Growth grid

Growth — Revenue

Fair Value Estimation

General caseUndervalued

Fair Value

$18.00

Current Price

$10.07

Margin of Safety

+44.1%

Fair Value Range

$17.10 - $18.90

Estimation Methods

Analyst price target:$18.00

Discounted cash flow (DCF):Not enough data to compute it

Earnings multiple (P/E):Not enough data to compute it

Graham growth formula:Not enough data to compute it

Earnings power value (EPV):Not enough data to compute it

Justified P/B:$15.59

Dividend discount (Gordon):Not enough data to compute it

P/FFO, funds from operations:Not enough data to compute it

Mid-cycle earnings:Not enough data to compute it

Revenue multiple:Not enough data to compute it

Analyst Consensus:Strong Buy (6B / 2H / 0S)

Last Earnings Surprise:+67.41%

Valuation Metrics

P/E Ratio

ROE

95.3%

P/B Ratio

0.54

P/FCF

Gross Margin

ROIC

-44.2%

Profitability Radar

Value Creation (Economic Moat)

ROIC

-44.2%

WACC

14.7%

ROIC − WACC

-58.9 pp

ROIC is below the cost of capital — the company is destroying value for every dollar invested.

Fundamental Analysis Criteria

Passed (6)

P/B Ratio 0.54
Interest Coverage
ROE 10.3%
Revenue Growth 5Y 24.6%
Analyst Consensus 75% Buy
Net Margin Trend -6.6% vs -10.0%

Failed (11)

EPS shows upward trend
Price CAGR -50.65%
ROIC -44.2%
Operating Margin -9.9%
Current Ratio
Return on Tangible Assets
Low reliance on intangibles
DCF valuation (Unknown)
Earnings Surprise avg -4.8%
Share Dilution 30.1%
Piotroski F-Score 2/9

Unavailable (10)

Gross Margin NaN%
P/FCF NaN
Dividend Payout NaN%
Debt/Equity ratio
Positive Free Cash Flow
CapEx intensity
Debt/EBITDA
Price below Graham Number
PEG Ratio (need PE > 0 and growth > 0)
Earnings Quality (OCF/Net Income)

Piotroski F-Score

2/9

Serious financial concerns

score

criteria

Earnings Quality

Low quality: investigate accounting

Share Dilution

30.1%

Issuing new shares, diluting ownership

Governance

Executive Team

Name	Title	Age
Dr. Aric Coffman M.D.	CEO, President & Director	51
Dr. Amir Bacchus M.B.A., M.D.	Co-Founder, Chief Medical Officer & Director	60
Mr. Leif Pedersen	Chief Financial Officer	49
Mr. William Bettermann	Executive VP & COO	-
Mr. Devery Goodey	Senior Vice President of Technology	-
Ms. Sarah Bussmann B.S.N., CRNI, M.H.A., R.N.	Chief Administrative Officer	-

Part 2 · The price and when to enter

This part won't tell you whether the company is worth owning: it helps you choose when to buy it, once the fundamentals have convinced you. Inside: technical analysis, potential, historical drawdowns, gamma exposure.

Latest News

Recent headlines for PIII, sourced from Markets Gazette.

No recent news for PIII.