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Side-by-side financial comparison of Astrana Health, Inc. (ASTH) and JANUS HENDERSON GROUP PLC (JHG). Click either name above to swap in a different company.
JANUS HENDERSON GROUP PLC is the larger business by last-quarter revenue ($1.1B vs $950.5M, roughly 1.2× Astrana Health, Inc.). JANUS HENDERSON GROUP PLC runs the higher net margin — 35.3% vs 0.7%, a 34.6% gap on every dollar of revenue. On growth, JANUS HENDERSON GROUP PLC posted the faster year-over-year revenue change (61.3% vs 42.9%). JANUS HENDERSON GROUP PLC produced more free cash flow last quarter ($320.4M vs $-6.0M). Over the past eight quarters, Astrana Health, Inc.'s revenue compounded faster (53.3% CAGR vs 43.9%).
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.
Janus Henderson is a British-American global asset management group headquartered in the City of London, United Kingdom. It offers a range of financial products to individuals, intermediary advisors, and institutional investors globally under the trade name Janus Henderson Investors.
ASTH vs JHG — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $950.5M | $1.1B |
| Net Profit | $6.6M | $403.2M |
| Gross Margin | — | — |
| Operating Margin | 1.9% | 42.7% |
| Net Margin | 0.7% | 35.3% |
| Revenue YoY | 42.9% | 61.3% |
| Net Profit YoY | 184.4% | 231.0% |
| EPS (diluted) | $0.12 | $2.59 |
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 | $1.1B | ||
| Q3 25 | $956.0M | $700.4M | ||
| Q2 25 | $654.8M | $633.2M | ||
| Q1 25 | $620.4M | $621.4M | ||
| Q4 24 | $665.2M | $708.3M | ||
| Q3 24 | $478.7M | $624.8M | ||
| Q2 24 | $486.3M | $588.4M | ||
| Q1 24 | $404.4M | $551.7M |
| Q4 25 | $6.6M | $403.2M | ||
| Q3 25 | $373.0K | $142.1M | ||
| Q2 25 | $9.4M | $149.9M | ||
| Q1 25 | $6.7M | $120.7M | ||
| Q4 24 | $-7.8M | $121.8M | ||
| Q3 24 | $16.1M | $27.3M | ||
| Q2 24 | $19.2M | $129.7M | ||
| Q1 24 | $14.8M | $130.1M |
| Q4 25 | 1.9% | 42.7% | ||
| Q3 25 | 2.0% | 24.6% | ||
| Q2 25 | 3.1% | 25.9% | ||
| Q1 25 | 3.3% | 24.7% | ||
| Q4 24 | 0.1% | 27.9% | ||
| Q3 24 | 5.9% | 26.4% | ||
| Q2 24 | 6.2% | 27.9% | ||
| Q1 24 | 7.5% | 21.6% |
| Q4 25 | 0.7% | 35.3% | ||
| Q3 25 | 0.0% | 20.3% | ||
| Q2 25 | 1.4% | 23.7% | ||
| Q1 25 | 1.1% | 19.4% | ||
| Q4 24 | -1.2% | 17.2% | ||
| Q3 24 | 3.4% | 4.4% | ||
| Q2 24 | 3.9% | 22.0% | ||
| Q1 24 | 3.7% | 23.6% |
| Q4 25 | $0.12 | $2.59 | ||
| Q3 25 | $0.01 | $0.92 | ||
| Q2 25 | $0.19 | $0.95 | ||
| Q1 25 | $0.14 | $0.77 | ||
| Q4 24 | $-0.14 | $0.77 | ||
| Q3 24 | $0.33 | $0.17 | ||
| Q2 24 | $0.40 | $0.81 | ||
| Q1 24 | $0.31 | $0.81 |
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 | $1.6B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $779.3M | $5.1B |
| Total Assets | $2.2B | $8.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $429.5M | $1.6B | ||
| Q3 25 | $463.4M | $1.4B | ||
| Q2 25 | $342.1M | $1.3B | ||
| Q1 25 | $260.9M | $1.4B | ||
| Q4 24 | $290.8M | $1.6B | ||
| Q3 24 | $350.3M | $1.8B | ||
| Q2 24 | $327.7M | $1.3B | ||
| Q1 24 | $337.3M | $1.1B |
| Q4 25 | $779.3M | $5.1B | ||
| Q3 25 | $775.5M | $4.8B | ||
| Q2 25 | $765.5M | $4.8B | ||
| Q1 25 | $745.4M | $4.7B | ||
| Q4 24 | $712.7M | $4.6B | ||
| Q3 24 | $704.6M | $4.6B | ||
| Q2 24 | $678.9M | $4.5B | ||
| Q1 24 | $653.5M | $4.4B |
| Q4 25 | $2.2B | $8.3B | ||
| Q3 25 | $2.2B | $7.6B | ||
| Q2 25 | $1.4B | $7.5B | ||
| Q1 25 | $1.3B | $7.1B | ||
| Q4 24 | $1.4B | $7.0B | ||
| Q3 24 | $1.3B | $7.3B | ||
| Q2 24 | $1.3B | $6.4B | ||
| Q1 24 | $1.2B | $6.3B |
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 | $322.7M |
| Free Cash FlowOCF − Capex | $-6.0M | $320.4M |
| FCF MarginFCF / Revenue | -0.6% | 28.0% |
| Capex IntensityCapex / Revenue | 0.3% | 0.2% |
| Cash ConversionOCF / Net Profit | -0.44× | 0.80× |
| TTM Free Cash FlowTrailing 4 quarters | $104.5M | $710.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-2.9M | $322.7M | ||
| Q3 25 | $10.0M | $258.8M | ||
| Q2 25 | $90.9M | $135.2M | ||
| Q1 25 | $16.6M | $2.8M | ||
| Q4 24 | $-10.9M | $247.3M | ||
| Q3 24 | $34.0M | $228.5M | ||
| Q2 24 | $23.2M | $223.8M | ||
| Q1 24 | $6.0M | $-5.0M |
| Q4 25 | $-6.0M | $320.4M | ||
| Q3 25 | $7.4M | $256.4M | ||
| Q2 25 | $89.5M | $133.2M | ||
| Q1 25 | $13.6M | $900.0K | ||
| Q4 24 | $-13.5M | $243.5M | ||
| Q3 24 | $31.7M | $225.9M | ||
| Q2 24 | $20.4M | $221.9M | ||
| Q1 24 | $5.6M | $-6.8M |
| Q4 25 | -0.6% | 28.0% | ||
| Q3 25 | 0.8% | 36.6% | ||
| Q2 25 | 13.7% | 21.0% | ||
| Q1 25 | 2.2% | 0.1% | ||
| Q4 24 | -2.0% | 34.4% | ||
| Q3 24 | 6.6% | 36.2% | ||
| Q2 24 | 4.2% | 37.7% | ||
| Q1 24 | 1.4% | -1.2% |
| Q4 25 | 0.3% | 0.2% | ||
| Q3 25 | 0.3% | 0.3% | ||
| Q2 25 | 0.2% | 0.3% | ||
| Q1 25 | 0.5% | 0.3% | ||
| Q4 24 | 0.4% | 0.5% | ||
| Q3 24 | 0.5% | 0.4% | ||
| Q2 24 | 0.6% | 0.3% | ||
| Q1 24 | 0.1% | 0.3% |
| Q4 25 | -0.44× | 0.80× | ||
| Q3 25 | 26.69× | 1.82× | ||
| Q2 25 | 9.65× | 0.90× | ||
| Q1 25 | 2.48× | 0.02× | ||
| Q4 24 | — | 2.03× | ||
| Q3 24 | 2.11× | 8.37× | ||
| Q2 24 | 1.21× | 1.73× | ||
| Q1 24 | 0.40× | -0.04× |
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% |
JHG
| Investment Advice | $585.2M | 51% |
| Investment Performance | $425.8M | 37% |
| Other | $76.4M | 7% |
