Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
P3 Health PartnersPIII +6.84%47 Return-on-Tangible-Asset is 2.68% as of Mar. 2026. GuruFocus rates PIII with a GF Score™ of 47/100 and a GF Value™ of $9.05 (Modestly Overvalued). The stock has 7 warning signs investors should review. Among 682 Healthcare Providers & Services companies, P3 Health Partners ranks worse than 88.27% on this metric.
Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. P3 Health Partners's annualizedNet Income for the quarter that ended in Mar. 2026 was $5 Mil. P3 Health Partners's average total tangible assets for the quarter that ended in Mar. 2026 was $183 Mil. Therefore, P3 Health Partners's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 2.68%.
The historical rank and industry rank for P3 Health Partners's Return-on-Tangible-Asset or its related term are showing as below:
PIII'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -157.03 Med: -66.04 Max: -36.14
Current: -65.47
During the past 8 years, P3 Health Partners's highest Return-on-Tangible-Asset was -36.14%. The lowest was -157.03%. And the median was -66.04%.
PIII's Return-on-Tangible-Asset is ranked worse than 88.27% of 682
companies
in the Healthcare Providers & Services industry
Industry Median: 2.465
vs PIII: -65.47
P3 Health Partners (NAS:PIII) Return-on-Tangible-Asset Explanation
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
P3 Health Partners Return-on-Tangible-Asset Related Terms
P3 Health Partners Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for P3 Health Partners's Return-on-Tangible-Asset can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
PIII vs EHSI, CDIX, DCGO: Return-on-Tangible-Asset Comparison
For the Medical Care Facilities subindustry, P3 Health Partners's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
P3 Health Partners Return-on-Tangible-Asset vs Healthcare Providers & Services Industry
For the Healthcare Providers & Services industry and Healthcare sector, P3 Health Partners's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where P3 Health Partners's Return-on-Tangible-Asset falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is four times the quarterly (Mar. 2026) net income data.
What does a Return-on-Tangible-Asset of 2.68% mean?
P3 Health Partners (PIII) has a Return-on-Tangible-Asset of 2.68% as of Mar. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on P3 Health Partners and its competitors. According to the industry distribution chart, P3 Health Partners ranks #602 out of 682 companies in the Healthcare Providers & Services industry, placing it in the top 88.3%.
Is P3 Health Partners' Return-on-Tangible-Asset too high?
P3 Health Partners' current Return-on-Tangible-Asset is 2.68%. The Healthcare Providers & Services industry median Return-on-Tangible-Asset is 2.47. P3 Health Partners' value of 2.68% is 8.7% above this industry median. Based on the distribution chart, P3 Health Partners ranks #602 out of 682 companies in the Healthcare Providers & Services industry, which is in the bottom quartile relative to peers. Overall, P3 Health Partners has a GF Score™ of 47/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does P3 Health Partners' Return-on-Tangible-Asset compare to EHSI and CDIX?
According to the Healthcare Providers & Services industry distribution chart, P3 Health Partners ranks #602 out of 682 companies for Return-on-Tangible-Asset. This places P3 Health Partners in the lower half of its industry. The industry median Return-on-Tangible-Asset is 2.47. P3 Health Partners' value of 2.68% is 8.7% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Return-on-Tangible-Asset for a Healthcare Providers & Services company?
The median Return-on-Tangible-Asset among Healthcare Providers & Services companies is 2.47, based on 682 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Asset significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Asset should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. P3 Health Partners's current Return-on-Tangible-Asset of 2.68% is 8.7% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Return-on-Tangible-Asset mean?
A high Return-on-Tangible-Asset can signal that a stock is expensive relative to its fundamentals. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on P3 Health Partners and its competitors. For the Healthcare Providers & Services industry, the median Return-on-Tangible-Asset is 2.47 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. P3 Health Partners's current Return-on-Tangible-Asset is 2.68%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is P3 Health Partners stock overvalued right now?
Based on GuruFocus' analysis, P3 Health Partners (PIII) is currently considered Modestly Overvalued. The stock's GF Value™ is $9.05, compared to a current price of $10.34 — trading 14.2% above its estimated fair value. The current Return-on-Tangible-Asset is 2.68% and 8.7% above the Healthcare Providers & Services industry median of 2.47. P3 Health Partners' overall GF Score™ is 47/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Asset calculated?
Return-on-Tangible-Asset is calculated from a company's financial statements. For P3 Health Partners (PIII), the current Return-on-Tangible-Asset is 2.68% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is P3 Health Partners (PIII) Overvalued in 2026?
Based on GuruFocus' analysis, P3 Health Partners stock appears to be overvalued.
The current stock price of $10.34 is trading 14.2% above its estimated GF Value™ of $9.05.
GuruFocus considers P3 Health Partners to be Modestly Overvalued.
Key valuation signals for PIII:
Return-on-Tangible-Asset: 2.68%
GF Value™: $9.05 vs. price of $10.34 (14.2% above fair value)
Industry Position: 8.7% above the Healthcare Providers & Services median (#602 of 682)
No single metric tells the full story. See the PIII stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
P3 Health Partners Inc is a patient-centered and physician-led population health management company. P3's model aggregates and supports the community's existing healthcare resources to build a network of community providers working together to deliver coordinated and integrated care to patients with a shared commitment to improving patient outcomes, lowering cost, and delivering experience for all. It includes utilization management, care management, disease education, and maintenance of a quality improvement and quality management program for members assigned to the Company. The Company is also responsible for the credentialing of its providers, processing and payment of claims, and the establishment of a provider network for certain health plans.
47GF Score
Get the complete analysis for PIII
Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
PIII has been successfully added to your 
