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Side-by-side financial comparison of Astrana Health, Inc. (ASTH) and DARLING INGREDIENTS INC. (DAR). Click either name above to swap in a different company.
DARLING INGREDIENTS INC. is the larger business by last-quarter revenue ($1.6B vs $950.5M, roughly 1.6× Astrana Health, Inc.). DARLING INGREDIENTS INC. runs the higher net margin — 1.2% vs 0.7%, a 0.5% gap on every dollar of revenue. On growth, Astrana Health, Inc. posted the faster year-over-year revenue change (42.9% vs 10.0%). Over the past eight quarters, Astrana Health, Inc.'s revenue compounded faster (53.3% CAGR vs -1.6%).
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.
Darling Ingredients Inc. is a global sustainable natural ingredients maker that converts edible and inedible organic byproducts into high-value products: food-grade nutritional ingredients, animal feed additives, pharmaceutical raw materials and biofuel components, serving food, agriculture, pharma and renewable energy markets across North America, Europe and Asia-Pacific.
ASTH vs DAR — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $950.5M | $1.6B |
| Net Profit | $6.6M | $19.4M |
| Gross Margin | — | 24.7% |
| Operating Margin | 1.9% | 4.6% |
| Net Margin | 0.7% | 1.2% |
| Revenue YoY | 42.9% | 10.0% |
| Net Profit YoY | 184.4% | 14.2% |
| EPS (diluted) | $0.12 | $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 | $1.6B | ||
| Q2 25 | $654.8M | $1.5B | ||
| Q1 25 | $620.4M | $1.4B | ||
| Q4 24 | $665.2M | $1.4B | ||
| Q3 24 | $478.7M | $1.4B | ||
| Q2 24 | $486.3M | $1.5B | ||
| Q1 24 | $404.4M | $1.4B |
| Q4 25 | $6.6M | — | ||
| Q3 25 | $373.0K | $19.4M | ||
| Q2 25 | $9.4M | $12.7M | ||
| Q1 25 | $6.7M | $-26.2M | ||
| Q4 24 | $-7.8M | $101.9M | ||
| Q3 24 | $16.1M | $16.9M | ||
| Q2 24 | $19.2M | $78.9M | ||
| Q1 24 | $14.8M | $81.2M |
| Q4 25 | — | — | ||
| Q3 25 | — | 24.7% | ||
| Q2 25 | — | 23.3% | ||
| Q1 25 | — | 22.6% | ||
| Q4 24 | — | 23.5% | ||
| Q3 24 | — | 22.1% | ||
| Q2 24 | — | 22.5% | ||
| Q1 24 | — | 21.4% |
| Q4 25 | 1.9% | — | ||
| Q3 25 | 2.0% | 4.6% | ||
| Q2 25 | 3.1% | 5.1% | ||
| Q1 25 | 3.3% | 2.1% | ||
| Q4 24 | 0.1% | 8.6% | ||
| Q3 24 | 5.9% | 4.2% | ||
| Q2 24 | 6.2% | 10.2% | ||
| Q1 24 | 7.5% | 9.7% |
| Q4 25 | 0.7% | — | ||
| Q3 25 | 0.0% | 1.2% | ||
| Q2 25 | 1.4% | 0.9% | ||
| Q1 25 | 1.1% | -1.9% | ||
| Q4 24 | -1.2% | 7.2% | ||
| Q3 24 | 3.4% | 1.2% | ||
| Q2 24 | 3.9% | 5.4% | ||
| Q1 24 | 3.7% | 5.7% |
| Q4 25 | $0.12 | — | ||
| Q3 25 | $0.01 | $0.12 | ||
| Q2 25 | $0.19 | $0.08 | ||
| Q1 25 | $0.14 | $-0.16 | ||
| Q4 24 | $-0.14 | $0.63 | ||
| Q3 24 | $0.33 | $0.11 | ||
| Q2 24 | $0.40 | $0.49 | ||
| Q1 24 | $0.31 | $0.50 |
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 | $91.5M |
| Total DebtLower is stronger | — | $4.0B |
| Stockholders' EquityBook value | $779.3M | $4.7B |
| Total Assets | $2.2B | $10.5B |
| Debt / EquityLower = less leverage | — | 0.86× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $429.5M | — | ||
| Q3 25 | $463.4M | $91.5M | ||
| Q2 25 | $342.1M | $94.6M | ||
| Q1 25 | $260.9M | $81.5M | ||
| Q4 24 | $290.8M | $76.0M | ||
| Q3 24 | $350.3M | $114.8M | ||
| Q2 24 | $327.7M | $121.6M | ||
| Q1 24 | $337.3M | $145.5M |
| Q4 25 | — | — | ||
| Q3 25 | — | $4.0B | ||
| Q2 25 | — | $3.9B | ||
| Q1 25 | — | $3.8B | ||
| Q4 24 | — | $3.9B | ||
| Q3 24 | — | $4.1B | ||
| Q2 24 | — | $4.3B | ||
| Q1 24 | — | $4.4B |
| Q4 25 | $779.3M | — | ||
| Q3 25 | $775.5M | $4.7B | ||
| Q2 25 | $765.5M | $4.6B | ||
| Q1 25 | $745.4M | $4.4B | ||
| Q4 24 | $712.7M | $4.4B | ||
| Q3 24 | $704.6M | $4.6B | ||
| Q2 24 | $678.9M | $4.5B | ||
| Q1 24 | $653.5M | $4.6B |
| Q4 25 | $2.2B | — | ||
| Q3 25 | $2.2B | $10.5B | ||
| Q2 25 | $1.4B | $10.3B | ||
| Q1 25 | $1.3B | $10.0B | ||
| Q4 24 | $1.4B | $10.1B | ||
| Q3 24 | $1.3B | $10.6B | ||
| Q2 24 | $1.3B | $10.6B | ||
| Q1 24 | $1.2B | $10.9B |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.86× | ||
| Q2 25 | — | 0.85× | ||
| Q1 25 | — | 0.86× | ||
| Q4 24 | — | 0.89× | ||
| Q3 24 | — | 0.91× | ||
| Q2 24 | — | 0.97× | ||
| Q1 24 | — | 0.95× |
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 | $224.3M |
| Free Cash FlowOCF − Capex | $-6.0M | — |
| FCF MarginFCF / Revenue | -0.6% | — |
| Capex IntensityCapex / Revenue | 0.3% | — |
| Cash ConversionOCF / Net Profit | -0.44× | 11.59× |
| TTM Free Cash FlowTrailing 4 quarters | $104.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-2.9M | — | ||
| Q3 25 | $10.0M | $224.3M | ||
| Q2 25 | $90.9M | $145.8M | ||
| Q1 25 | $16.6M | $249.0M | ||
| Q4 24 | $-10.9M | $154.4M | ||
| Q3 24 | $34.0M | $274.5M | ||
| Q2 24 | $23.2M | $146.5M | ||
| Q1 24 | $6.0M | $263.9M |
| 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 | -0.44× | — | ||
| Q3 25 | 26.69× | 11.59× | ||
| Q2 25 | 9.65× | 11.52× | ||
| Q1 25 | 2.48× | — | ||
| Q4 24 | — | 1.52× | ||
| Q3 24 | 2.11× | 16.19× | ||
| Q2 24 | 1.21× | 1.86× | ||
| Q1 24 | 0.40× | 3.25× |
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% |
DAR
| Fats | $428.4M | 27% |
| Food Ingredients | $380.6M | 24% |
| Diamond Green Diesel Holdings Llc Joint Venture | $342.1M | 22% |
| Fuel Ingredients | $154.3M | 10% |
| Used Cooking Oil | $125.9M | 8% |
| Other Rendering | $76.9M | 5% |
| Bakery | $46.9M | 3% |
| Other Products And Services | $12.2M | 1% |
