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PIII

P3 Health Partners NasdaqCM:PIII Stock Report

Last Price

US$5.07

Market Cap

US$1.2b

7D

7.0%

1Y

-48.7%

Updated

06 Oct, 2022

Data

Company Financials +
PIII fundamental analysis
Snowflake Score
Valuation3/6
Future Growth2/6
Past Performance0/6
Financial Health0/6
Dividends0/6

PIII Stock Overview

P3 Health Partners Inc., a patient-centered and physician-led population health management company, provides superior care services in the United States.

P3 Health Partners Competitors

Price History & Performance

Summary of all time highs, changes and price drops for P3 Health Partners
Historical stock prices
Current Share PriceUS$5.07
52 Week HighUS$16.73
52 Week LowUS$3.41
Beta0
1 Month Change-1.36%
3 Month Change31.69%
1 Year Change-48.74%
3 Year Changen/a
5 Year Changen/a
Change since IPO-47.63%

Recent News & Updates

Oct 05

P3 Health gets Nasdaq notice for delisting, plans appeal

P3 Health Partners (NASDAQ:PIII) said that Nasdaq has started a process which could result in the delisting of the company’s securities from the exchange. The company intends to appeal the Staff Determination before a Nasdaq Hearing Panel and seek a further stay of any suspension or delisting action pending the hearing process, P3 said in an Oct. 4 press release. P3 noted that the request for a hearing must be made by Oct. 5. The Staff Determination was issued because the company has not filed its annual report on Form 10-K for the fiscal year ended Dec. 31, 2021 or its quarterly reports on Form 10-Q for March 31, and June 30.

Aug 29

P3 Health expands Nevada footprint with acquisition of Pahrump cardiology practice

P3 Health Partners (NASDAQ:PIII) said Monday its unit P3 Health Partners-Nevada acquired Pahrump Cardiology & Family Practice, expanding its footprint in Nye County, Nevada. The cardiology and multi-specialty practice joins PIII's existing clinic in Pahrump.

Shareholder Returns

PIIIUS HealthcareUS Market
7D7.0%2.5%3.3%
1Y-48.7%10.1%-20.4%

Return vs Industry: PIII underperformed the US Healthcare industry which returned 13.9% over the past year.

Return vs Market: PIII underperformed the US Market which returned -18.8% over the past year.

Price Volatility

Is PIII's price volatile compared to industry and market?
PIII volatility
PIII Average Weekly Movement9.6%
Healthcare Industry Average Movement7.7%
Market Average Movement6.9%
10% most volatile stocks in US Market15.6%
10% least volatile stocks in US Market2.9%

Stable Share Price: PIII is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 10% a week.

Volatility Over Time: PIII's weekly volatility (10%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
n/a450Sherif Abdouhttps://p3hp.org

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.

P3 Health Partners Fundamentals Summary

How do P3 Health Partners's earnings and revenue compare to its market cap?
PIII fundamental statistics
Market CapUS$1.21b
Earnings (TTM)-US$91.04m
Revenue (TTM)US$584.38m

0.4x

P/S Ratio

-2.3x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
PIII income statement (TTM)
RevenueUS$584.38m
Cost of RevenueUS$596.49m
Gross Profit-US$12.11m
Other ExpensesUS$78.93m
Earnings-US$91.04m

Last Reported Earnings

Sep 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)-2.19
Gross Margin-2.07%
Net Profit Margin-15.58%
Debt/Equity Ratio-43.4%

How did PIII perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

Is PIII undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for PIII?

Other financial metrics that can be useful for relative valuation.

PIII key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue0.5x
Enterprise Value/EBITDA-4x
PEG Ration/a

Price to Sales Ratio vs Peers

How does PIII's PS Ratio compare to its peers?

PIII PS Ratio vs Peers
The above table shows the PS ratio for PIII vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPSEstimated GrowthMarket Cap
Peer Average1.4x
FLGT Fulgent Genetics
1.3x-23.0%US$1.2b
HIMS Hims & Hers Health
3.1x22.7%US$1.2b
RDNT RadNet
0.8x4.5%US$1.1b
CCRN Cross Country Healthcare
0.5x-13.9%US$1.2b
PIII P3 Health Partners
0.4x42.3%US$1.2b

Price-To-Sales vs Peers: PIII is good value based on its Price-To-Sales Ratio (0.4x) compared to the peer average (1.4x).


Price to Earnings Ratio vs Industry

How does PIII's PE Ratio compare vs other companies in the US Healthcare Industry?

Price-To-Sales vs Industry: PIII is good value based on its Price-To-Sales Ratio (0.4x) compared to the US Healthcare industry average (1.3x)


Price to Sales Ratio vs Fair Ratio

What is PIII's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

PIII PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.4x
Fair PS Ratio2.7x

Price-To-Sales vs Fair Ratio: PIII is good value based on its Price-To-Sales Ratio (0.4x) compared to the estimated Fair Price-To-Sales Ratio (2.7x).


Share Price vs Fair Value

What is the Fair Price of PIII when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate PIII's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate PIII's fair value for valuation analysis.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.


Discover undervalued companies

  • Take a look at our analysis of PIII's management and see if the CEO's compensation is within a reasonable range, who is on the board and if insiders have been trading lately.

Future Growth

How is P3 Health Partners forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

Future Growth Score

2/6

Future Growth Score 2/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


42.3%

Forecasted annual revenue growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if PIII's forecast earnings growth is above the savings rate (1.9%).

Earnings vs Market: Insufficient data to determine if PIII's earnings are forecast to grow faster than the US market

High Growth Earnings: Insufficient data to determine if PIII's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: PIII's revenue (42.3% per year) is forecast to grow faster than the US market (7.6% per year).

High Growth Revenue: PIII's revenue (42.3% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if PIII's Return on Equity is forecast to be high in 3 years time


Discover growth companies

Past Performance

How has P3 Health Partners performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-130.2%

Last years earnings growth

Earnings and Revenue History

Quality Earnings: PIII is currently unprofitable.

Growing Profit Margin: PIII is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: Insufficient data to determine if PIII's year-on-year earnings growth rate was positive over the past 5 years.

Accelerating Growth: Unable to compare PIII's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: PIII is unprofitable, making it difficult to compare its past year earnings growth to the Healthcare industry (1.9%).


Return on Equity

High ROE: PIII's liabilities exceed its assets, so it is difficult to calculate its Return on Equity.


Discover strong past performing companies

Financial Health

How is P3 Health Partners's financial position?

Financial Health Score

0/6

Financial Health Score 0/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Stable Cash Runway

  • Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: PIII has negative shareholder equity, which is a more serious situation than short term assets not covering short term liabilities.

Long Term Liabilities: PIII has negative shareholder equity, which is a more serious situation than short term assets not covering long term liabilities.


Debt to Equity History and Analysis

Debt Level: PIII has negative shareholder equity, which is a more serious situation than a high debt level.

Reducing Debt: PIII's has negative shareholder equity, so we do not need to check if its debt has reduced over time.


Balance Sheet


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: Insufficient data to determine if PIII has enough cash runway based on its current free cash flow.

Forecast Cash Runway: Insufficient data to determine if PIII has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.


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Dividend

What is P3 Health Partners's current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage

Dividend Yield vs Market

P3 Health Partners Dividend Yield vs Market
How does P3 Health Partners dividend yield compare to the market?
SegmentDividend Yield
Company (P3 Health Partners)n/a
Market Bottom 25% (US)1.6%
Market Top 25% (US)4.6%
Industry Average (Healthcare)1.4%
Analyst forecast in 3 Years (P3 Health Partners)n/a

Notable Dividend: Unable to evaluate PIII's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate PIII's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if PIII's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if PIII's dividend payments have been increasing.


Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as PIII has not reported any payouts.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

0.8yrs

Average management tenure


CEO

Sherif Abdou (62 yo)

0.83yr

Tenure

US$1,496,235

Compensation

Dr. Sherif Abdou, MD, MMM, FACP, FACPE is CEO & Director at P3 Health Partners Inc. He has focused his 30-year career on managing and leading the transformation of the health care delivery system throughou...


CEO Compensation Analysis

Sherif Abdou's Compensation vs P3 Health Partners Earnings
How has Sherif Abdou's remuneration changed compared to P3 Health Partners's earnings?
DateTotal Comp.SalaryCompany Earnings
Sep 30 2021n/an/a

-US$91m

Jun 30 2021n/an/a

-US$76m

Mar 31 2021n/an/a

-US$58m

Dec 31 2020US$1mUS$743k

-US$41m

Compensation vs Market: Insufficient data to establish whether Sherif's total compensation is reasonable compared to companies of similar size in the US market.

Compensation vs Earnings: Insufficient data to compare Sherif's compensation with company performance.


Leadership Team

Experienced Management: PIII's management team is not considered experienced ( 0.8 years average tenure), which suggests a new team.


Board Members

Experienced Board: PIII's board of directors are not considered experienced ( 0.8 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

NasdaqCM:PIII Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
28 Jan 22BuyUS$72,450Michael BalkinIndividual15,000US$4.83
19 Jan 22BuyUS$21,619Michael BalkinIndividual4,239US$5.10

Ownership Breakdown

What is the ownership structure of PIII?
Owner TypeNumber of SharesOwnership Percentage
Individual Insiders4,523,0048.3%
Private Companies7,526,02513.7%
VC/PE Firms15,561,54028.4%
Institutions27,207,33949.6%

Dilution of Shares: Shareholders have been substantially diluted in the past year, with total shares outstanding growing by 503.5%.


Top Shareholders

Top 25 shareholders own 130.37% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
24.34%
FMR LLC
10,120,307$51.3m0%no data
21%
Chicago Pacific Founders
8,732,517$44.3m0%no data
18.1%
Foresight Sponsor Group, LLC
7,526,025$38.2m0%no data
16.42%
Leavitt Equity Partners
6,829,023$34.6m0%no data
15.01%
Janus Henderson Group plc
6,240,748$31.6m-4.96%0.02%
7.46%
Columbia Management Investment Advisers, LLC
3,101,597$15.7m-26.17%no data
6.1%
The Vanguard Group, Inc.
2,535,398$12.9m4.33%no data
5.66%
Lorie Glisson
2,355,319$11.9m0%no data
4.11%
Nicholas Investment Partners, L.P.
1,709,669$8.7m0.81%0.81%
2.7%
BlackRock, Inc.
1,123,679$5.7m659.74%no data
1.42%
Unmesh Srivastava
588,828$3.0m0%no data
1.26%
Norges Bank Investment Management
523,120$2.7m0%no data
0.87%
Geode Capital Management, LLC
359,737$1.8m263.93%no data
0.75%
EMFO, LLC
311,649$1.6m0%1.63%
0.6%
State Street Global Advisors, Inc.
249,653$1.3m617.54%no data
0.57%
Patti Berry
235,531$1.2m0%no data
0.5%
Rebecca Lindy
209,543$1.1m0%no data
0.5%
David Yarger
207,977$1.1m0%no data
0.5%
Michelle Ross
207,907$1.1m0%no data
0.5%
Hartley White
207,907$1.1m0%no data
0.5%
Thomas Conjurski
207,907$1.1m0%no data
0.5%
Sarah Bussmann
207,906$1.1m0%no data
0.45%
Northern Trust Global Investments
188,580$956.1k809.56%no data
0.3%
SMH Asset Management
122,998$623.6k0%0.14%
0.24%
Millennium Management LLC
100,819$511.2k103.24%no data

Company Information

P3 Health Partners Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: P3 Health Partners Inc.
  • Ticker: PIII
  • Exchange: NasdaqCM
  • Founded: NaN
  • Industry: Health Care Services
  • Sector: Healthcare
  • Implied Market Cap: US$1.213b
  • Market Cap: US$210.805m
  • Shares outstanding: 243.60m
  • Website: https://p3hp.org

Number of Employees


Location

  • P3 Health Partners Inc.
  • 2370 Corporate Circle
  • Suite 300
  • Henderson
  • Nevada
  • 89074
  • United States


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PIIINasdaqCM (Nasdaq Capital Market)YesClass A Common StockUSUSDApr 2021

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/10/06 00:00
End of Day Share Price2022/10/06 00:00
Earnings2021/09/30
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.