P3 Health Partners (PIIIW) Cost of Revenue (2021 - 2026)
P3 Health Partners' (PIIIW) quarterly Cost of Revenue came in at $426.1 million in Q4 2025, up 3.86% YoY from $410.2 million in Q4 2024, and up 15.22% on a QoQ basis from $369.8 million in Q3 2025.
P3 Health Partners (PIIIW) Cost of Revenue (2021 - 2026) Analysis & Trends
P3 Health Partners (PIIIW) has 5 years of Cost of Revenue data on file, last reported at $426.1 million in Q4 2025.
- Quarterly Cost of Revenue rose 3.86% year-over-year to $426.1 million in Q4 2025, while the trailing twelve-month figure through Dec 2025 was $1.5 billion (down 2.57% YoY) and the FY2025 annual result came in at $1.5 billion, down 2.57% from the prior year.
- Cost of Revenue rose to $426.1 million in Q4 2025, from $369.8 million in the prior quarter.
- In the past five years, Cost of Revenue ranged from a high of $426.1 million in Q4 2025 to a low of $146.6 million in Q1 2021.
- A 5-year average of $303.7 million and a median of $293.9 million in 2023 frame the typical range for Cost of Revenue.
- Annual changes were most pronounced in 2022 — Cost of Revenue surged 81.29% — and 2025, when it decreased 7.99%.
- Tracing PIIIW's Cost of Revenue over 5 years: stood at $244.8 million in 2021, then rose by 9.96% to $269.2 million in 2022, then soared by 36.59% to $367.7 million in 2023, then advanced by 11.57% to $410.2 million in 2024, then grew by 3.86% to $426.1 million in 2025.
- The last three Cost of Revenue figures came in at $426.1 million (Q4 2025), $369.8 million (Q3 2025), and $351.3 million (Q2 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | HCA Healthcare | 88.19 Bn | 90.61 Bn | 15.19 Bn | 5.04 Bn |
| 2 | Tenet Healthcare | 21.59 Bn | 21.56 Bn | 4.45 Bn | 1.17 Bn |
| 3 | Encompass Health | 12.19 Bn | 12.86 Bn | 1.34 Bn | 254.90 Mn |
| 4 | Davita | 11.52 Bn | 12.39 Bn | 1.16 Bn | 2.39 Bn |
| 5 | Ensign | 10.59 Bn | 10.27 Bn | 306.24 Mn | 1.13 Bn |
| 6 | Universal Health Services | 8.79 Bn | 8.72 Bn | 3.29 Bn | 1.35 Bn |
| 7 | Pacs | 7.04 Bn | 6.88 Bn | 338.46 Mn | 1.09 Bn |
| 8 | Chemed | 6.96 Bn | 6.92 Bn | 221.47 Mn | 451.78 Mn |
| 9 | Concentra Group Holdings Parent | 4.52 Bn | 4.38 Bn | 192.10 Mn | 413.93 Mn |
| 10 | P3 Health Partners | 72,590.00 | 42.30 Mn | 86.00 Mn | 300.38 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 300.38 Mn |
| Jun 30, 2026 | 300.38 Mn |
| Dec 31, 2025 | 426.06 Mn |
| Dec 31, 2025 | 426.06 Mn |
| Sep 30, 2025 | 369.79 Mn |
| Sep 30, 2025 | 369.79 Mn |
| Jun 30, 2025 | 351.35 Mn |
| Jun 30, 2025 | 351.35 Mn |
| Mar 31, 2025 | 372.04 Mn |
| Mar 31, 2025 | 372.04 Mn |
| Dec 31, 2024 | 410.22 Mn |
| Dec 31, 2024 | 410.22 Mn |
| Sep 30, 2024 | 401.92 Mn |
| Sep 30, 2024 | 401.92 Mn |
| Jun 30, 2024 | 365.17 Mn |
| Jun 30, 2024 | 365.17 Mn |
| Mar 31, 2024 | 382.06 Mn |
| Mar 31, 2024 | 382.06 Mn |
| Dec 31, 2023 | 367.68 Mn |
| Dec 31, 2023 | 367.68 Mn |