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Side-by-side financial comparison of Astrana Health, Inc. (ASTH) and PACS Group, Inc. (PACS). Click either name above to swap in a different company.
PACS Group, Inc. is the larger business by last-quarter revenue ($1.4B vs $950.5M, roughly 1.4× Astrana Health, Inc.). PACS Group, Inc. runs the higher net margin — 4.4% vs 0.7%, a 3.7% gap on every dollar of revenue. On growth, Astrana Health, Inc. posted the faster year-over-year revenue change (42.9% vs 18.4%). Over the past eight quarters, Astrana Health, Inc.'s revenue compounded faster (53.3% CAGR vs 20.5%).
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.
ASTH vs PACS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $950.5M | $1.4B |
| Net Profit | $6.6M | $59.7M |
| Gross Margin | — | — |
| Operating Margin | 1.9% | 7.0% |
| Net Margin | 0.7% | 4.4% |
| Revenue YoY | 42.9% | 18.4% |
| Net Profit YoY | 184.4% | 3022.5% |
| EPS (diluted) | $0.12 | $0.42 |
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 | $1.4B | ||
| Q3 25 | $956.0M | $1.3B | ||
| Q2 25 | $654.8M | $1.3B | ||
| Q1 25 | $620.4M | $1.3B | ||
| Q4 24 | $665.2M | $1.1B | ||
| Q3 24 | $478.7M | $1.0B | ||
| Q2 24 | $486.3M | $981.4M | ||
| Q1 24 | $404.4M | $934.3M |
| Q4 25 | $6.6M | $59.7M | ||
| Q3 25 | $373.0K | $52.4M | ||
| Q2 25 | $9.4M | $51.0M | ||
| Q1 25 | $6.7M | $28.5M | ||
| Q4 24 | $-7.8M | $1.9M | ||
| Q3 24 | $16.1M | $15.6M | ||
| Q2 24 | $19.2M | $-10.9M | ||
| Q1 24 | $14.8M | $49.1M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 17.1% | ||
| Q2 24 | — | 22.3% | ||
| Q1 24 | — | 21.2% |
| Q4 25 | 1.9% | 7.0% | ||
| Q3 25 | 2.0% | 6.4% | ||
| Q2 25 | 3.1% | 6.2% | ||
| Q1 25 | 3.3% | 3.8% | ||
| Q4 24 | 0.1% | 1.7% | ||
| Q3 24 | 5.9% | 2.2% | ||
| Q2 24 | 6.2% | 0.1% | ||
| Q1 24 | 7.5% | 8.6% |
| Q4 25 | 0.7% | 4.4% | ||
| Q3 25 | 0.0% | 3.9% | ||
| Q2 25 | 1.4% | 3.9% | ||
| Q1 25 | 1.1% | 2.2% | ||
| Q4 24 | -1.2% | 0.2% | ||
| Q3 24 | 3.4% | 1.5% | ||
| Q2 24 | 3.9% | -1.1% | ||
| Q1 24 | 3.7% | 5.3% |
| Q4 25 | $0.12 | $0.42 | ||
| Q3 25 | $0.01 | $0.32 | ||
| Q2 25 | $0.19 | $0.31 | ||
| Q1 25 | $0.14 | $0.17 | ||
| Q4 24 | $-0.14 | $-0.03 | ||
| Q3 24 | $0.33 | $0.10 | ||
| Q2 24 | $0.40 | $-0.07 | ||
| Q1 24 | $0.31 | $0.38 |
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 | $197.0M |
| Total DebtLower is stronger | — | $353.2M |
| Stockholders' EquityBook value | $779.3M | $946.8M |
| Total Assets | $2.2B | $5.6B |
| Debt / EquityLower = less leverage | — | 0.37× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $429.5M | $197.0M | ||
| Q3 25 | $463.4M | $355.7M | ||
| Q2 25 | $342.1M | $294.2M | ||
| Q1 25 | $260.9M | $287.5M | ||
| Q4 24 | $290.8M | $157.7M | ||
| Q3 24 | $350.3M | $49.5M | ||
| Q2 24 | $327.7M | $73.4M | ||
| Q1 24 | $337.3M | $81.2M |
| Q4 25 | — | $353.2M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $411.9M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $779.3M | $946.8M | ||
| Q3 25 | $775.5M | $871.3M | ||
| Q2 25 | $765.5M | $806.8M | ||
| Q1 25 | $745.4M | $750.2M | ||
| Q4 24 | $712.7M | $709.6M | ||
| Q3 24 | $704.6M | $660.0M | ||
| Q2 24 | $678.9M | $572.1M | ||
| Q1 24 | $653.5M | $128.0M |
| Q4 25 | $2.2B | $5.6B | ||
| Q3 25 | $2.2B | $5.6B | ||
| Q2 25 | $1.4B | $5.5B | ||
| Q1 25 | $1.3B | $5.5B | ||
| Q4 24 | $1.4B | $5.2B | ||
| Q3 24 | $1.3B | $4.5B | ||
| Q2 24 | $1.3B | $3.9B | ||
| Q1 24 | $1.2B | $3.9B |
| Q4 25 | — | 0.37× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.58× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| 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 | $-2.9M | $-3.4M |
| Free Cash FlowOCF − Capex | $-6.0M | — |
| FCF MarginFCF / Revenue | -0.6% | — |
| Capex IntensityCapex / Revenue | 0.3% | — |
| Cash ConversionOCF / Net Profit | -0.44× | -0.06× |
| TTM Free Cash FlowTrailing 4 quarters | $104.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-2.9M | $-3.4M | ||
| Q3 25 | $10.0M | $204.8M | ||
| Q2 25 | $90.9M | $52.6M | ||
| Q1 25 | $16.6M | $150.2M | ||
| Q4 24 | $-10.9M | $64.6M | ||
| Q3 24 | $34.0M | $209.2M | ||
| Q2 24 | $23.2M | $34.8M | ||
| Q1 24 | $6.0M | $58.8M |
| 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× | -0.06× | ||
| Q3 25 | 26.69× | 3.91× | ||
| Q2 25 | 9.65× | 1.03× | ||
| Q1 25 | 2.48× | 5.28× | ||
| Q4 24 | — | 33.78× | ||
| Q3 24 | 2.11× | 13.39× | ||
| Q2 24 | 1.21× | — | ||
| Q1 24 | 0.40× | 1.20× |
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% |
PACS
Segment breakdown not available.
