The Joint Corp. (JYNT) vs P3 Health Partners Inc. (PIII)

The Joint Corp. and P3 Health Partners Inc. are both Medical Care Facilities companies. The Joint Corp. is the larger, with a market value of $117.3M against $51.2M — 2.3× the size. P3 Health Partners Inc. has negative trailing earnings, so its P/E is not meaningful; The Joint Corp. trades at 30.5×. The Joint Corp. grew revenue faster over the last twelve months: 9.00% against 2.81%. The Joint Corp. has the higher net margin (6.49% vs −7.19%) and the higher return on invested capital (0.00% vs −54.2%). Across the 18 metrics below, The Joint Corp. leads on 13 and P3 Health Partners Inc. on 5.

Valuation

Metric JYNT PIII Medical Care Facilities median
P/E 30.48 n/m 19.16
P/S 2.00 0.02 0.90
P/B 7.38 n/m 2.91
Price to free cash flow n/m n/m 12.62
EV/EBITDA 31.71 n/m 10.06
EV/Sales 1.70 0.08 1.35
Earnings yield 3.28% (467.38%) 2.30%
Free cash flow yield (0.89%) (551.07%) 4.14%

Profitability

Metric JYNT PIII Medical Care Facilities median
Gross margin 81.76% 4.70% 30.78%
Operating margin 2.41% (9.89%) 5.74%
Net margin 6.49% (7.19%) 2.32%
Free cash flow margin 7.22% (8.68%) 5.46%
Return on equity 19.41% 461.69% 8.76%
Return on assets 6.09% (15.59%) 2.18%
Return on invested capital 0.00% (54.24%) 5.40%

Growth

Metric JYNT PIII Medical Care Facilities median
Revenue growth (TTM) 9.00% 2.81% 7.12%
EPS growth (last fiscal year) 133.93% 16.19% —
Revenue growth, 5-year CAGR (1.33%) 24.33% 9.58%
Net income growth, 5-year CAGR (26.07%) 0.00% 0.00%

Health

Metric JYNT PIII Medical Care Facilities median
Debt to equity 0.00 1.64 0.30
Current ratio 1.83 0.46 1.22
Net debt to EBITDA (30.37) (1.43) 1.32

Dividend

Metric JYNT PIII Medical Care Facilities median
Dividend yield — — 0.85%
Payout ratio 0.00 0.00 0.00

Size

Metric JYNT PIII Medical Care Facilities median
Market cap 117.25m 51.19m 1.34b

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