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Side-by-side financial comparison of ALGONQUIN POWER & UTILITIES CORP. (AQN) and Astrana Health, Inc. (ASTH). Click either name above to swap in a different company.
Astrana Health, Inc. is the larger business by last-quarter revenue ($950.5M vs $527.8M, roughly 1.8× ALGONQUIN POWER & UTILITIES CORP.). ALGONQUIN POWER & UTILITIES CORP. runs the higher net margin — 4.6% vs 0.7%, a 3.9% gap on every dollar of revenue. On growth, Astrana Health, Inc. posted the faster year-over-year revenue change (42.9% vs -11.8%). ALGONQUIN POWER & UTILITIES CORP. produced more free cash flow last quarter ($64.1M vs $-6.0M).
Algonquin Power & Utilities Corp. is a Canadian regulated utility company with assets across North America, Bermuda, and Chile. Algonquin provides water, wastewater, natural gas, and electricity services through its operating subsidiaries: Liberty Utilities, its regulated utility business; Bermuda Electric Light Company, and Suralis in Chile.
Astrana Health, Inc. is a U.S.-based value-based healthcare services provider that primarily serves Medicare-eligible senior populations across the United States. It offers in-home primary care, chronic disease management, and care coordination services, aiming to improve patient health outcomes and reduce unnecessary medical costs.
AQN vs ASTH — Head-to-Head
Income Statement — Q2 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $527.8M | $950.5M |
| Net Profit | $24.1M | $6.6M |
| Gross Margin | 36.8% | — |
| Operating Margin | 12.3% | 1.9% |
| Net Margin | 4.6% | 0.7% |
| Revenue YoY | -11.8% | 42.9% |
| Net Profit YoY | -88.0% | 184.4% |
| EPS (diluted) | $0.02 | $0.12 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | — | $950.5M | ||
| Q3 25 | — | $956.0M | ||
| Q2 25 | $527.8M | $654.8M | ||
| Q1 25 | — | $620.4M | ||
| Q4 24 | — | $665.2M | ||
| Q3 24 | — | $478.7M | ||
| Q2 24 | $598.6M | $486.3M | ||
| Q1 24 | — | $404.4M |
| Q4 25 | — | $6.6M | ||
| Q3 25 | — | $373.0K | ||
| Q2 25 | $24.1M | $9.4M | ||
| Q1 25 | — | $6.7M | ||
| Q4 24 | — | $-7.8M | ||
| Q3 24 | — | $16.1M | ||
| Q2 24 | $200.8M | $19.2M | ||
| Q1 24 | — | $14.8M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 36.8% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 29.6% | — | ||
| Q1 24 | — | — |
| Q4 25 | — | 1.9% | ||
| Q3 25 | — | 2.0% | ||
| Q2 25 | 12.3% | 3.1% | ||
| Q1 25 | — | 3.3% | ||
| Q4 24 | — | 0.1% | ||
| Q3 24 | — | 5.9% | ||
| Q2 24 | 13.7% | 6.2% | ||
| Q1 24 | — | 7.5% |
| Q4 25 | — | 0.7% | ||
| Q3 25 | — | 0.0% | ||
| Q2 25 | 4.6% | 1.4% | ||
| Q1 25 | — | 1.1% | ||
| Q4 24 | — | -1.2% | ||
| Q3 24 | — | 3.4% | ||
| Q2 24 | 33.5% | 3.9% | ||
| Q1 24 | — | 3.7% |
| Q4 25 | — | $0.12 | ||
| Q3 25 | — | $0.01 | ||
| Q2 25 | $0.02 | $0.19 | ||
| Q1 25 | — | $0.14 | ||
| Q4 24 | — | $-0.14 | ||
| Q3 24 | — | $0.33 | ||
| Q2 24 | $0.03 | $0.40 | ||
| Q1 24 | — | $0.31 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $55.1M | $429.5M |
| Total DebtLower is stronger | $6.3B | — |
| Stockholders' EquityBook value | $4.7B | $779.3M |
| Total Assets | $3.6B | $2.2B |
| Debt / EquityLower = less leverage | 1.35× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $429.5M | ||
| Q3 25 | — | $463.4M | ||
| Q2 25 | $55.1M | $342.1M | ||
| Q1 25 | — | $260.9M | ||
| Q4 24 | — | $290.8M | ||
| Q3 24 | — | $350.3M | ||
| Q2 24 | $237.9M | $327.7M | ||
| Q1 24 | — | $337.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $6.3B | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $8.3B | — | ||
| Q1 24 | — | — |
| Q4 25 | — | $779.3M | ||
| Q3 25 | — | $775.5M | ||
| Q2 25 | $4.7B | $765.5M | ||
| Q1 25 | — | $745.4M | ||
| Q4 24 | — | $712.7M | ||
| Q3 24 | — | $704.6M | ||
| Q2 24 | $6.2B | $678.9M | ||
| Q1 24 | — | $653.5M |
| Q4 25 | — | $2.2B | ||
| Q3 25 | — | $2.2B | ||
| Q2 25 | $3.6B | $1.4B | ||
| Q1 25 | — | $1.3B | ||
| Q4 24 | — | $1.4B | ||
| Q3 24 | — | $1.3B | ||
| Q2 24 | $3.1B | $1.3B | ||
| Q1 24 | — | $1.2B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 1.35× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 1.34× | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $249.9M | $-2.9M |
| Free Cash FlowOCF − Capex | $64.1M | $-6.0M |
| FCF MarginFCF / Revenue | 12.1% | -0.6% |
| Capex IntensityCapex / Revenue | 35.2% | 0.3% |
| Cash ConversionOCF / Net Profit | 10.37× | -0.44× |
| TTM Free Cash FlowTrailing 4 quarters | $-41.0K | $104.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-2.9M | ||
| Q3 25 | — | $10.0M | ||
| Q2 25 | $249.9M | $90.9M | ||
| Q1 25 | — | $16.6M | ||
| Q4 24 | — | $-10.9M | ||
| Q3 24 | — | $34.0M | ||
| Q2 24 | $236.2M | $23.2M | ||
| Q1 24 | — | $6.0M |
| Q4 25 | — | $-6.0M | ||
| Q3 25 | — | $7.4M | ||
| Q2 25 | $64.1M | $89.5M | ||
| Q1 25 | — | $13.6M | ||
| Q4 24 | — | $-13.5M | ||
| Q3 24 | — | $31.7M | ||
| Q2 24 | $31.9M | $20.4M | ||
| Q1 24 | — | $5.6M |
| Q4 25 | — | -0.6% | ||
| Q3 25 | — | 0.8% | ||
| Q2 25 | 12.1% | 13.7% | ||
| Q1 25 | — | 2.2% | ||
| Q4 24 | — | -2.0% | ||
| Q3 24 | — | 6.6% | ||
| Q2 24 | 5.3% | 4.2% | ||
| Q1 24 | — | 1.4% |
| Q4 25 | — | 0.3% | ||
| Q3 25 | — | 0.3% | ||
| Q2 25 | 35.2% | 0.2% | ||
| Q1 25 | — | 0.5% | ||
| Q4 24 | — | 0.4% | ||
| Q3 24 | — | 0.5% | ||
| Q2 24 | 34.1% | 0.6% | ||
| Q1 24 | — | 0.1% |
| Q4 25 | — | -0.44× | ||
| Q3 25 | — | 26.69× | ||
| Q2 25 | 10.37× | 9.65× | ||
| Q1 25 | — | 2.48× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 2.11× | ||
| Q2 24 | 1.18× | 1.21× | ||
| Q1 24 | — | 0.40× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AQN
Segment breakdown not available.
ASTH
| Medicare | $542.4M | 57% |
| Commercial | $99.1M | 10% |
| Care Delivery | $92.1M | 10% |
| Care Enablement | $78.9M | 8% |
| Other Third Parties | $58.0M | 6% |
| Health Care Patient Service | $39.8M | 4% |
| Health Care Other | $25.5M | 3% |
| Other | $12.1M | 1% |
| Management Service | $10.3M | 1% |
