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Side-by-side financial comparison of Astrana Health, Inc. (ASTH) and EXELIXIS, INC. (EXEL). Click either name above to swap in a different company.
Astrana Health, Inc. is the larger business by last-quarter revenue ($950.5M vs $598.7M, roughly 1.6× EXELIXIS, INC.). EXELIXIS, INC. runs the higher net margin — 40.8% vs 0.7%, a 40.2% gap on every dollar of revenue. On growth, Astrana Health, Inc. posted the faster year-over-year revenue change (42.9% vs 5.6%). EXELIXIS, INC. produced more free cash flow last quarter ($332.4M vs $-6.0M). Over the past eight quarters, Astrana Health, Inc.'s revenue compounded faster (53.3% CAGR vs 18.7%).
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.
Exelixis, Inc. is a genomics-based drug discovery company located in Alameda, California, and the producer of Cometriq, a treatment approved by the U.S. Food and Drug Administration (FDA) for medullary thyroid cancer with clinical activity in several other types of metastatic cancer.
ASTH vs EXEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $950.5M | $598.7M |
| Net Profit | $6.6M | $244.5M |
| Gross Margin | — | 95.6% |
| Operating Margin | 1.9% | 39.3% |
| Net Margin | 0.7% | 40.8% |
| Revenue YoY | 42.9% | 5.6% |
| Net Profit YoY | 184.4% | 74.8% |
| EPS (diluted) | $0.12 | $0.89 |
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.
| Q1 26 | — | $598.7M | ||
| Q4 25 | $950.5M | $597.8M | ||
| Q3 25 | $956.0M | $568.3M | ||
| Q2 25 | $654.8M | $555.4M | ||
| Q1 25 | $620.4M | $566.8M | ||
| Q4 24 | $665.2M | — | ||
| Q3 24 | $478.7M | $539.5M | ||
| Q2 24 | $486.3M | $637.2M |
| Q1 26 | — | $244.5M | ||
| Q4 25 | $6.6M | $193.6M | ||
| Q3 25 | $373.0K | $184.8M | ||
| Q2 25 | $9.4M | $159.6M | ||
| Q1 25 | $6.7M | $139.9M | ||
| Q4 24 | $-7.8M | — | ||
| Q3 24 | $16.1M | $118.0M | ||
| Q2 24 | $19.2M | $226.1M |
| Q1 26 | — | 95.6% | ||
| Q4 25 | — | 96.9% | ||
| Q3 25 | — | 96.6% | ||
| Q2 25 | — | 96.5% | ||
| Q1 25 | — | 96.5% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 96.8% | ||
| Q2 24 | — | 97.2% |
| Q1 26 | — | 39.3% | ||
| Q4 25 | 1.9% | 39.6% | ||
| Q3 25 | 2.0% | 37.6% | ||
| Q2 25 | 3.1% | 33.6% | ||
| Q1 25 | 3.3% | 28.8% | ||
| Q4 24 | 0.1% | — | ||
| Q3 24 | 5.9% | 25.2% | ||
| Q2 24 | 6.2% | 43.3% |
| Q1 26 | — | 40.8% | ||
| Q4 25 | 0.7% | 32.4% | ||
| Q3 25 | 0.0% | 32.5% | ||
| Q2 25 | 1.4% | 28.7% | ||
| Q1 25 | 1.1% | 24.7% | ||
| Q4 24 | -1.2% | — | ||
| Q3 24 | 3.4% | 21.9% | ||
| Q2 24 | 3.9% | 35.5% |
| Q1 26 | — | $0.89 | ||
| Q4 25 | $0.12 | $0.69 | ||
| Q3 25 | $0.01 | $0.65 | ||
| Q2 25 | $0.19 | $0.55 | ||
| Q1 25 | $0.14 | $0.47 | ||
| Q4 24 | $-0.14 | — | ||
| Q3 24 | $0.33 | $0.40 | ||
| Q2 24 | $0.40 | $0.77 |
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 | $1.1B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $779.3M | $2.2B |
| Total Assets | $2.2B | $2.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $1.1B | ||
| Q4 25 | $429.5M | $988.5M | ||
| Q3 25 | $463.4M | $791.1M | ||
| Q2 25 | $342.1M | $1.0B | ||
| Q1 25 | $260.9M | $1.1B | ||
| Q4 24 | $290.8M | — | ||
| Q3 24 | $350.3M | $1.2B | ||
| Q2 24 | $327.7M | $1.0B |
| Q1 26 | — | $2.2B | ||
| Q4 25 | $779.3M | $2.2B | ||
| Q3 25 | $775.5M | $2.0B | ||
| Q2 25 | $765.5M | $2.1B | ||
| Q1 25 | $745.4M | $2.2B | ||
| Q4 24 | $712.7M | — | ||
| Q3 24 | $704.6M | $2.3B | ||
| Q2 24 | $678.9M | $2.1B |
| Q1 26 | — | $2.8B | ||
| Q4 25 | $2.2B | $2.8B | ||
| Q3 25 | $2.2B | $2.7B | ||
| Q2 25 | $1.4B | $2.8B | ||
| Q1 25 | $1.3B | $2.9B | ||
| Q4 24 | $1.4B | — | ||
| Q3 24 | $1.3B | $3.0B | ||
| Q2 24 | $1.3B | $2.8B |
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 | $333.5M |
| Free Cash FlowOCF − Capex | $-6.0M | $332.4M |
| FCF MarginFCF / Revenue | -0.6% | 55.5% |
| Capex IntensityCapex / Revenue | 0.3% | 0.2% |
| Cash ConversionOCF / Net Profit | -0.44× | 1.36× |
| TTM Free Cash FlowTrailing 4 quarters | $104.5M | $875.8M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $333.5M | ||
| Q4 25 | $-2.9M | $290.3M | ||
| Q3 25 | $10.0M | $49.0M | ||
| Q2 25 | $90.9M | $211.4M | ||
| Q1 25 | $16.6M | $240.3M | ||
| Q4 24 | $-10.9M | — | ||
| Q3 24 | $34.0M | $271.3M | ||
| Q2 24 | $23.2M | $119.5M |
| Q1 26 | — | $332.4M | ||
| Q4 25 | $-6.0M | $288.8M | ||
| Q3 25 | $7.4M | $46.2M | ||
| Q2 25 | $89.5M | $208.5M | ||
| Q1 25 | $13.6M | $236.3M | ||
| Q4 24 | $-13.5M | — | ||
| Q3 24 | $31.7M | $263.1M | ||
| Q2 24 | $20.4M | $113.0M |
| Q1 26 | — | 55.5% | ||
| Q4 25 | -0.6% | 48.3% | ||
| Q3 25 | 0.8% | 8.1% | ||
| Q2 25 | 13.7% | 37.5% | ||
| Q1 25 | 2.2% | 41.7% | ||
| Q4 24 | -2.0% | — | ||
| Q3 24 | 6.6% | 48.8% | ||
| Q2 24 | 4.2% | 17.7% |
| Q1 26 | — | 0.2% | ||
| Q4 25 | 0.3% | 0.2% | ||
| Q3 25 | 0.3% | 0.5% | ||
| Q2 25 | 0.2% | 0.5% | ||
| Q1 25 | 0.5% | 0.7% | ||
| Q4 24 | 0.4% | — | ||
| Q3 24 | 0.5% | 1.5% | ||
| Q2 24 | 0.6% | 1.0% |
| Q1 26 | — | 1.36× | ||
| Q4 25 | -0.44× | 1.50× | ||
| Q3 25 | 26.69× | 0.27× | ||
| Q2 25 | 9.65× | 1.32× | ||
| Q1 25 | 2.48× | 1.72× | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.11× | 2.30× | ||
| Q2 24 | 1.21× | 0.53× |
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% |
EXEL
| Cabometyx | $544.7M | 91% |
| Collaboration | $52.1M | 9% |
| Collaborative Arrangementwith Takeda | $5.9M | 1% |
| Cometriq | $1.8M | 0% |
