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Side-by-side financial comparison of Astrana Health, Inc. (ASTH) and Barnes & Noble Education, Inc. (BNED). Click either name above to swap in a different company.
Astrana Health, Inc. is the larger business by last-quarter revenue ($950.5M vs $598.2M, roughly 1.6× Barnes & Noble Education, Inc.). Barnes & Noble Education, Inc. runs the higher net margin — 4.2% vs 0.7%, a 3.5% gap on every dollar of revenue. On growth, Astrana Health, Inc. posted the faster year-over-year revenue change (42.9% vs 6.9%). Barnes & Noble Education, Inc. produced more free cash flow last quarter ($61.9M vs $-6.0M). Over the past eight quarters, Astrana Health, Inc.'s revenue compounded faster (53.3% CAGR vs 20.0%).
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.
Barnes & Noble Booksellers is an American bookseller with the largest number of retail outlets in the United States. The company operates approximately 700+ retail stores across the United States.
ASTH vs BNED — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $950.5M | $598.2M |
| Net Profit | $6.6M | $25.0M |
| Gross Margin | — | 21.7% |
| Operating Margin | 1.9% | 6.8% |
| Net Margin | 0.7% | 4.2% |
| Revenue YoY | 42.9% | 6.9% |
| Net Profit YoY | 184.4% | -49.7% |
| EPS (diluted) | $0.12 | $0.72 |
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 | $598.2M | ||
| Q3 25 | $956.0M | $274.2M | ||
| Q2 25 | $654.8M | $233.0M | ||
| Q1 25 | $620.4M | $419.7M | ||
| Q4 24 | $665.2M | $559.7M | ||
| Q3 24 | $478.7M | $250.9M | ||
| Q2 24 | $486.3M | $192.7M | ||
| Q1 24 | $404.4M | $415.4M |
| Q4 25 | $6.6M | $25.0M | ||
| Q3 25 | $373.0K | $-18.3M | ||
| Q2 25 | $9.4M | $-23.0M | ||
| Q1 25 | $6.7M | $17.9M | ||
| Q4 24 | $-7.8M | $43.2M | ||
| Q3 24 | $16.1M | $-103.9M | ||
| Q2 24 | $19.2M | $-41.9M | ||
| Q1 24 | $14.8M | $-9.3M |
| Q4 25 | — | 21.7% | ||
| Q3 25 | — | 20.2% | ||
| Q2 25 | — | 30.3% | ||
| Q1 25 | — | 22.3% | ||
| Q4 24 | — | 23.0% | ||
| Q3 24 | — | 17.9% | ||
| Q2 24 | — | 28.7% | ||
| Q1 24 | — | 24.2% |
| Q4 25 | 1.9% | 6.8% | ||
| Q3 25 | 2.0% | -8.4% | ||
| Q2 25 | 3.1% | -4.9% | ||
| Q1 25 | 3.3% | 4.5% | ||
| Q4 24 | 0.1% | 8.4% | ||
| Q3 24 | 5.9% | -15.4% | ||
| Q2 24 | 6.2% | -16.3% | ||
| Q1 24 | 7.5% | 0.4% |
| Q4 25 | 0.7% | 4.2% | ||
| Q3 25 | 0.0% | -6.7% | ||
| Q2 25 | 1.4% | -9.9% | ||
| Q1 25 | 1.1% | 4.3% | ||
| Q4 24 | -1.2% | 7.7% | ||
| Q3 24 | 3.4% | -41.4% | ||
| Q2 24 | 3.9% | -21.7% | ||
| Q1 24 | 3.7% | -2.2% |
| Q4 25 | $0.12 | $0.72 | ||
| Q3 25 | $0.01 | $-0.54 | ||
| Q2 25 | $0.19 | $2.97 | ||
| Q1 25 | $0.14 | $0.59 | ||
| Q4 24 | $-0.14 | $1.63 | ||
| Q3 24 | $0.33 | $-7.69 | ||
| Q2 24 | $0.40 | $-15.68 | ||
| Q1 24 | $0.31 | $-3.49 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $429.5M | $11.7M |
| Total DebtLower is stronger | — | $122.5M |
| Stockholders' EquityBook value | $779.3M | $283.2M |
| Total Assets | $2.2B | $1.1B |
| Debt / EquityLower = less leverage | — | 0.43× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $429.5M | $11.7M | ||
| Q3 25 | $463.4M | $7.3M | ||
| Q2 25 | $342.1M | $9.1M | ||
| Q1 25 | $260.9M | $9.2M | ||
| Q4 24 | $290.8M | $11.6M | ||
| Q3 24 | $350.3M | $8.2M | ||
| Q2 24 | $327.7M | $10.5M | ||
| Q1 24 | $337.3M | $8.1M |
| Q4 25 | — | $122.5M | ||
| Q3 25 | — | $170.0M | ||
| Q2 25 | — | $103.1M | ||
| Q1 25 | — | $141.2M | ||
| Q4 24 | — | $177.6M | ||
| Q3 24 | — | $221.9M | ||
| Q2 24 | — | $196.3M | ||
| Q1 24 | — | $30.2M |
| Q4 25 | $779.3M | $283.2M | ||
| Q3 25 | $775.5M | $256.5M | ||
| Q2 25 | $765.5M | $272.2M | ||
| Q1 25 | $745.4M | $292.9M | ||
| Q4 24 | $712.7M | $211.4M | ||
| Q3 24 | $704.6M | $149.8M | ||
| Q2 24 | $678.9M | $80.4M | ||
| Q1 24 | $653.5M | $121.5M |
| Q4 25 | $2.2B | $1.1B | ||
| Q3 25 | $2.2B | $950.8M | ||
| Q2 25 | $1.4B | $790.3M | ||
| Q1 25 | $1.3B | $1.1B | ||
| Q4 24 | $1.4B | $1.0B | ||
| Q3 24 | $1.3B | $973.2M | ||
| Q2 24 | $1.3B | $909.9M | ||
| Q1 24 | $1.2B | $1.2B |
| Q4 25 | — | 0.43× | ||
| Q3 25 | — | 0.66× | ||
| Q2 25 | — | 0.38× | ||
| Q1 25 | — | 0.48× | ||
| Q4 24 | — | 0.84× | ||
| Q3 24 | — | 1.48× | ||
| Q2 24 | — | 2.44× | ||
| Q1 24 | — | 0.25× |
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 | $-2.9M | $66.2M |
| Free Cash FlowOCF − Capex | $-6.0M | $61.9M |
| FCF MarginFCF / Revenue | -0.6% | 10.4% |
| Capex IntensityCapex / Revenue | 0.3% | 0.7% |
| Cash ConversionOCF / Net Profit | -0.44× | 2.65× |
| TTM Free Cash FlowTrailing 4 quarters | $104.5M | $-4.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-2.9M | $66.2M | ||
| Q3 25 | $10.0M | $-67.6M | ||
| Q2 25 | $90.9M | $52.6M | ||
| Q1 25 | $16.6M | $-41.9M | ||
| Q4 24 | $-10.9M | $47.4M | ||
| Q3 24 | $34.0M | $-143.5M | ||
| Q2 24 | $23.2M | $81.7M | ||
| Q1 24 | $6.0M | $-35.8M |
| Q4 25 | $-6.0M | $61.9M | ||
| Q3 25 | $7.4M | $-71.3M | ||
| Q2 25 | $89.5M | $49.5M | ||
| Q1 25 | $13.6M | $-44.7M | ||
| Q4 24 | $-13.5M | $44.4M | ||
| Q3 24 | $31.7M | $-147.5M | ||
| Q2 24 | $20.4M | $79.1M | ||
| Q1 24 | $5.6M | $-39.0M |
| Q4 25 | -0.6% | 10.4% | ||
| Q3 25 | 0.8% | -26.0% | ||
| Q2 25 | 13.7% | 21.3% | ||
| Q1 25 | 2.2% | -10.7% | ||
| Q4 24 | -2.0% | 7.9% | ||
| Q3 24 | 6.6% | -58.8% | ||
| Q2 24 | 4.2% | 41.1% | ||
| Q1 24 | 1.4% | -9.4% |
| Q4 25 | 0.3% | 0.7% | ||
| Q3 25 | 0.3% | 1.4% | ||
| Q2 25 | 0.2% | 1.3% | ||
| Q1 25 | 0.5% | 0.7% | ||
| Q4 24 | 0.4% | 0.5% | ||
| Q3 24 | 0.5% | 1.6% | ||
| Q2 24 | 0.6% | 1.4% | ||
| Q1 24 | 0.1% | 0.8% |
| Q4 25 | -0.44× | 2.65× | ||
| Q3 25 | 26.69× | — | ||
| Q2 25 | 9.65× | — | ||
| Q1 25 | 2.48× | -2.34× | ||
| Q4 24 | — | 1.10× | ||
| Q3 24 | 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
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% |
BNED
| Course Materials Product | $459.3M | 77% |
| General Merchandise Product | $112.9M | 19% |
| Serviceand Other | $26.1M | 4% |
