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Side-by-side financial comparison of Ardent Health, Inc. (ARDT) and Astrana Health, Inc. (ASTH). Click either name above to swap in a different company.
Ardent Health, Inc. is the larger business by last-quarter revenue ($1.6B vs $950.5M, roughly 1.7× Astrana Health, Inc.). Ardent Health, Inc. runs the higher net margin — 2.8% vs 0.7%, a 2.1% gap on every dollar of revenue.
Goodlife Health Clubs is a chain of health clubs, with more than 80 locations in Australia.
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.
ARDT vs ASTH — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.6B | $950.5M |
| Net Profit | $45.0M | $6.6M |
| Gross Margin | — | — |
| Operating Margin | 5.8% | 1.9% |
| Net Margin | 2.8% | 0.7% |
| Revenue YoY | — | 42.9% |
| Net Profit YoY | — | 184.4% |
| EPS (diluted) | $0.32 | $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 | $1.6B | $950.5M | ||
| Q3 25 | $1.6B | $956.0M | ||
| Q2 25 | $1.6B | $654.8M | ||
| Q1 25 | $1.5B | $620.4M | ||
| Q4 24 | — | $665.2M | ||
| Q3 24 | $1.4B | $478.7M | ||
| Q2 24 | $1.5B | $486.3M | ||
| Q1 24 | — | $404.4M |
| Q4 25 | $45.0M | $6.6M | ||
| Q3 25 | $-23.5M | $373.0K | ||
| Q2 25 | $73.0M | $9.4M | ||
| Q1 25 | $41.4M | $6.7M | ||
| Q4 24 | — | $-7.8M | ||
| Q3 24 | $26.3M | $16.1M | ||
| Q2 24 | $42.8M | $19.2M | ||
| Q1 24 | — | $14.8M |
| Q4 25 | 5.8% | 1.9% | ||
| Q3 25 | -0.1% | 2.0% | ||
| Q2 25 | 7.4% | 3.1% | ||
| Q1 25 | 5.0% | 3.3% | ||
| Q4 24 | — | 0.1% | ||
| Q3 24 | 3.9% | 5.9% | ||
| Q2 24 | 5.6% | 6.2% | ||
| Q1 24 | — | 7.5% |
| Q4 25 | 2.8% | 0.7% | ||
| Q3 25 | -1.5% | 0.0% | ||
| Q2 25 | 4.4% | 1.4% | ||
| Q1 25 | 2.8% | 1.1% | ||
| Q4 24 | — | -1.2% | ||
| Q3 24 | 1.8% | 3.4% | ||
| Q2 24 | 2.9% | 3.9% | ||
| Q1 24 | — | 3.7% |
| Q4 25 | $0.32 | $0.12 | ||
| Q3 25 | $-0.17 | $0.01 | ||
| Q2 25 | $0.52 | $0.19 | ||
| Q1 25 | $0.29 | $0.14 | ||
| Q4 24 | — | $-0.14 | ||
| Q3 24 | $0.19 | $0.33 | ||
| Q2 24 | $0.34 | $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 | $709.6M | $429.5M |
| Total DebtLower is stronger | $1.1B | — |
| Stockholders' EquityBook value | $1.3B | $779.3M |
| Total Assets | $5.3B | $2.2B |
| Debt / EquityLower = less leverage | 0.84× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $709.6M | $429.5M | ||
| Q3 25 | $609.4M | $463.4M | ||
| Q2 25 | $540.6M | $342.1M | ||
| Q1 25 | $495.0M | $260.9M | ||
| Q4 24 | — | $290.8M | ||
| Q3 24 | $563.1M | $350.3M | ||
| Q2 24 | $334.5M | $327.7M | ||
| Q1 24 | — | $337.3M |
| Q4 25 | $1.1B | — | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $1.1B | — | ||
| Q1 25 | $1.1B | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $1.1B | — | ||
| Q2 24 | $1.1B | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.3B | $779.3M | ||
| Q3 25 | $1.2B | $775.5M | ||
| Q2 25 | $1.3B | $765.5M | ||
| Q1 25 | $1.2B | $745.4M | ||
| Q4 24 | — | $712.7M | ||
| Q3 24 | $1.0B | $704.6M | ||
| Q2 24 | $739.9M | $678.9M | ||
| Q1 24 | — | $653.5M |
| Q4 25 | $5.3B | $2.2B | ||
| Q3 25 | $5.2B | $2.2B | ||
| Q2 25 | $5.0B | $1.4B | ||
| Q1 25 | $4.9B | $1.3B | ||
| Q4 24 | — | $1.4B | ||
| Q3 24 | $4.8B | $1.3B | ||
| Q2 24 | $4.6B | $1.3B | ||
| Q1 24 | — | $1.2B |
| Q4 25 | 0.84× | — | ||
| Q3 25 | 0.88× | — | ||
| Q2 25 | 0.87× | — | ||
| Q1 25 | 0.93× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.08× | — | ||
| Q2 24 | 1.46× | — | ||
| 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 | $223.4M | $-2.9M |
| Free Cash FlowOCF − Capex | — | $-6.0M |
| FCF MarginFCF / Revenue | — | -0.6% |
| Capex IntensityCapex / Revenue | — | 0.3% |
| Cash ConversionOCF / Net Profit | 4.97× | -0.44× |
| TTM Free Cash FlowTrailing 4 quarters | — | $104.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $223.4M | $-2.9M | ||
| Q3 25 | $154.4M | $10.0M | ||
| Q2 25 | $117.5M | $90.9M | ||
| Q1 25 | $-24.8M | $16.6M | ||
| Q4 24 | — | $-10.9M | ||
| Q3 24 | $89.7M | $34.0M | ||
| Q2 24 | — | $23.2M | ||
| Q1 24 | — | $6.0M |
| Q4 25 | — | $-6.0M | ||
| Q3 25 | — | $7.4M | ||
| Q2 25 | — | $89.5M | ||
| Q1 25 | — | $13.6M | ||
| Q4 24 | — | $-13.5M | ||
| Q3 24 | — | $31.7M | ||
| Q2 24 | — | $20.4M | ||
| Q1 24 | — | $5.6M |
| Q4 25 | — | -0.6% | ||
| Q3 25 | — | 0.8% | ||
| Q2 25 | — | 13.7% | ||
| Q1 25 | — | 2.2% | ||
| Q4 24 | — | -2.0% | ||
| Q3 24 | — | 6.6% | ||
| Q2 24 | — | 4.2% | ||
| Q1 24 | — | 1.4% |
| Q4 25 | — | 0.3% | ||
| Q3 25 | — | 0.3% | ||
| Q2 25 | — | 0.2% | ||
| Q1 25 | — | 0.5% | ||
| Q4 24 | — | 0.4% | ||
| Q3 24 | — | 0.5% | ||
| Q2 24 | — | 0.6% | ||
| Q1 24 | — | 0.1% |
| Q4 25 | 4.97× | -0.44× | ||
| Q3 25 | — | 26.69× | ||
| Q2 25 | 1.61× | 9.65× | ||
| Q1 25 | -0.60× | 2.48× | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.41× | 2.11× | ||
| Q2 24 | — | 1.21× | ||
| Q1 24 | — | 0.40× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ARDT
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% |
