P3 Health Partners (PIIIW) Gross Margin (2021 - 2026)
P3 Health Partners' (PIIIW) quarterly Gross Margin came in at 10.72% in Q4 2025, down 5.0% YoY from 11.28% in Q4 2024, and down 50.81% on a QoQ basis from 7.11% in Q3 2025.
P3 Health Partners (PIIIW) Gross Margin (2021 - 2026) Analysis & Trends
P3 Health Partners (PIIIW) has 5 years of Gross Margin data on file, last reported at 10.72% in Q4 2025.
- Quarterly Gross Margin fell 5.0% year-over-year to 10.72% in Q4 2025, while the trailing twelve-month figure through Dec 2025 was 4.12% (down 20.0% YoY) and the FY2025 annual result came in at 4.12%, down 20.0% from the prior year.
- Gross Margin declined to 10.72% in Q4 2025, from 7.11% in the prior quarter.
- In the past five years, Gross Margin ranged from a high of 8.15% in Q2 2023 to a low of 12.33% in Q4 2021.
- A 5-year average of 1.85% and a median of 0.5% in 2021 frame the typical range for Gross Margin.
- Annual changes were most pronounced in 2023 — Gross Margin soared 740 bps — and 2024, when it tumbled 1416 bps.
- Tracing PIIIW's Gross Margin over 5 years: stood at 12.33% in 2021, then jumped by 66 bps to 4.25% in 2022, then plunged by 41 bps to 6.0% in 2023, then plunged by 78 bps to 10.67% in 2024, then retreated by 0 bps to 10.72% in 2025.
- The last three Gross Margin figures came in at 10.72% (Q4 2025), 7.11% (Q3 2025), and 1.25% (Q2 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | HCA Healthcare | 88.19 Bn | 90.61 Bn | 15.19 Bn | 75.07% |
| 2 | Tenet Healthcare | 21.59 Bn | 21.56 Bn | 4.45 Bn | 79.14% |
| 3 | Encompass Health | 12.19 Bn | 12.86 Bn | 1.34 Bn | 84.04% |
| 4 | Davita | 11.52 Bn | 12.39 Bn | 1.16 Bn | 32.70% |
| 5 | Ensign | 10.59 Bn | 10.27 Bn | 306.24 Mn | 21.26% |
| 6 | Universal Health Services | 8.79 Bn | 8.72 Bn | 3.29 Bn | 70.85% |
| 7 | Pacs | 7.04 Bn | 6.88 Bn | 338.46 Mn | 23.70% |
| 8 | Chemed | 6.96 Bn | 6.92 Bn | 221.47 Mn | 32.90% |
| 9 | Concentra Group Holdings Parent | 4.52 Bn | 4.38 Bn | 192.10 Mn | 31.70% |
| 10 | P3 Health Partners | 72,590.00 | 42.30 Mn | 86.00 Mn | 22.26% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 22.26% |
| Dec 31, 2025 | -10.72% |
| Sep 30, 2025 | -7.11% |
| Jun 30, 2025 | 1.25% |
| Mar 31, 2025 | 0.32% |
| Dec 31, 2024 | -10.67% |
| Sep 30, 2024 | -10.99% |
| Jun 30, 2024 | 3.69% |
| Mar 31, 2024 | 1.66% |
| Dec 31, 2023 | -6.00% |
| Sep 30, 2023 | 3.17% |
| Jun 30, 2023 | 8.15% |
| Mar 31, 2023 | 5.46% |
| Dec 31, 2022 | -4.25% |
| Sep 30, 2022 | -2.63% |
| Jun 30, 2022 | 0.74% |
| Mar 31, 2022 | 2.82% |
| Dec 2, 2021 | -12.33% |
| Sep 30, 2021 | -3.29% |
| Jun 30, 2021 | 0.69% |