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亚什兰（ASH）与P3 Health Partners Inc.（PIII）财务数据对比。点击上方公司名可切换其他公司
亚什兰的季度营收约是P3 Health Partners Inc.的1.0倍（$386.0M vs $384.8M），亚什兰净利率更高（-3.1% vs -19.6%，领先16.5%），P3 Health Partners Inc.同比增速更快（3.8% vs -4.7%），过去两年P3 Health Partners Inc.的营收复合增速更高（-0.5% vs -18.1%）
亚什兰是一家总部位于美国特拉华州威尔明顿的化工企业，1924年始创于肯塔基州亚什兰市，最初以炼油业务起家，1994年迁至现总部。公司拥有多个业务板块，覆盖化工中间体与溶剂、复合材料、工业特种化学品、个人及家居护理、制药、食品饮料以及农业相关领域，2017年之前曾是胜牌润滑油的主要生产商。
P3 Health Partners Inc.是一家总部位于美国的人口健康管理与价值型医疗服务企业，与基层医疗机构及医疗系统合作，为包括联邦医保优势计划参保者在内的人群提供协同优质医疗服务，致力于提升诊疗效果、降低不必要的医疗开支。
ASH vs PIII — 直观对比
营收规模更大
ASH
是对方的1.0倍
$384.8M
营收增速更快
PIII
高出8.5%
-4.7%
净利率更高
ASH
高出16.5%
-19.6%
两年增速更快
PIII
近两年复合增速
-18.1%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $386.0M | $384.8M |
| 净利润 | $-12.0M | $-75.5M |
| 毛利率 | 27.2% | — |
| 营业利润率 | -1.6% | -40.0% |
| 净利率 | -3.1% | -19.6% |
| 营收同比 | -4.7% | 3.8% |
| 净利润同比 | 92.7% | -28.8% |
| 每股收益（稀释后） | $-0.26 | $-23.08 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收ASHPIII
| Q4 25 | $386.0M | $384.8M | ||
| Q3 25 | $477.0M | $345.3M | ||
| Q2 25 | $463.0M | $355.8M | ||
| Q1 25 | $479.0M | $373.2M | ||
| Q4 24 | $405.0M | $370.7M | ||
| Q3 24 | $521.0M | $362.1M | ||
| Q2 24 | $544.0M | $379.2M | ||
| Q1 24 | $575.0M | $388.5M |
净利润ASHPIII
| Q4 25 | $-12.0M | $-75.5M | ||
| Q3 25 | $31.0M | $-31.6M | ||
| Q2 25 | $-742.0M | $-20.4M | ||
| Q1 25 | $31.0M | $-20.5M | ||
| Q4 24 | $-165.0M | $-58.6M | ||
| Q3 24 | $17.0M | $-46.5M | ||
| Q2 24 | $6.0M | $-12.0M | ||
| Q1 24 | $120.0M | $-18.7M |
毛利率ASHPIII
| Q4 25 | 27.2% | — | ||
| Q3 25 | 33.3% | — | ||
| Q2 25 | 28.5% | — | ||
| Q1 25 | 30.7% | — | ||
| Q4 24 | 27.4% | — | ||
| Q3 24 | 33.2% | — | ||
| Q2 24 | 34.2% | — | ||
| Q1 24 | 28.0% | — |
营业利润率ASHPIII
| Q4 25 | -1.6% | -40.0% | ||
| Q3 25 | 12.8% | -12.8% | ||
| Q2 25 | -152.9% | -9.6% | ||
| Q1 25 | 10.6% | -10.2% | ||
| Q4 24 | -44.2% | -37.4% | ||
| Q3 24 | 6.1% | -29.5% | ||
| Q2 24 | -11.2% | -8.3% | ||
| Q1 24 | 3.7% | -11.3% |
净利率ASHPIII
| Q4 25 | -3.1% | -19.6% | ||
| Q3 25 | 6.5% | -9.1% | ||
| Q2 25 | -160.3% | -5.7% | ||
| Q1 25 | 6.5% | -5.5% | ||
| Q4 24 | -40.7% | -15.8% | ||
| Q3 24 | 3.3% | -12.8% | ||
| Q2 24 | 1.1% | -3.2% | ||
| Q1 24 | 20.9% | -4.8% |
每股收益（稀释后）ASHPIII
| Q4 25 | $-0.26 | $-23.08 | ||
| Q3 25 | $0.83 | $-9.67 | ||
| Q2 25 | $-16.21 | $-6.23 | ||
| Q1 25 | $0.65 | $-6.28 | ||
| Q4 24 | $-3.50 | $-23.13 | ||
| Q3 24 | $0.34 | $-15.70 | ||
| Q2 24 | $0.12 | $-7.37 | ||
| Q1 24 | $2.39 | $-7.86 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $304.0M | $25.0M |
| 总债务越低越好 | $1.4B | $228.4M |
| 股东权益账面价值 | $1.9B | $-155.2M |
| 总资产 | $4.5B | $656.6M |
| 负债/权益比越低杠杆越低 | 0.74× | — |
8季度趋势，按日历期对齐
现金及短期投资ASHPIII
| Q4 25 | $304.0M | $25.0M | ||
| Q3 25 | $215.0M | $37.7M | ||
| Q2 25 | $207.0M | $38.6M | ||
| Q1 25 | $168.0M | $40.1M | ||
| Q4 24 | $219.0M | $38.8M | ||
| Q3 24 | $300.0M | $63.0M | ||
| Q2 24 | $399.0M | $73.1M | ||
| Q1 24 | $439.0M | $27.3M |
总债务ASHPIII
| Q4 25 | $1.4B | $228.4M | ||
| Q3 25 | $1.4B | $252.8M | ||
| Q2 25 | $1.4B | $182.0M | ||
| Q1 25 | $1.3B | $171.1M | ||
| Q4 24 | $1.3B | $108.9M | ||
| Q3 24 | $1.3B | $133.2M | ||
| Q2 24 | $1.3B | $133.1M | ||
| Q1 24 | $1.3B | $118.1M |
股东权益ASHPIII
| Q4 25 | $1.9B | $-155.2M | ||
| Q3 25 | $1.9B | $-18.7M | ||
| Q2 25 | $1.9B | $44.5M | ||
| Q1 25 | $2.6B | $63.3M | ||
| Q4 24 | $2.6B | $75.9M | ||
| Q3 24 | $2.9B | $120.5M | ||
| Q2 24 | $3.0B | $166.8M | ||
| Q1 24 | $3.1B | $146.6M |
总资产ASHPIII
| Q4 25 | $4.5B | $656.6M | ||
| Q3 25 | $4.6B | $683.6M | ||
| Q2 25 | $4.6B | $731.6M | ||
| Q1 25 | $5.2B | $783.9M | ||
| Q4 24 | $5.2B | $783.4M | ||
| Q3 24 | $5.6B | $833.3M | ||
| Q2 24 | $5.7B | $892.8M | ||
| Q1 24 | $5.9B | $855.9M |
负债/权益比ASHPIII
| Q4 25 | 0.74× | — | ||
| Q3 25 | 0.73× | — | ||
| Q2 25 | 0.73× | 4.09× | ||
| Q1 25 | 0.52× | 2.71× | ||
| Q4 24 | 0.51× | 1.43× | ||
| Q3 24 | 0.47× | 1.11× | ||
| Q2 24 | 0.45× | 0.80× | ||
| Q1 24 | 0.42× | 0.81× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $125.0M | $-25.7M |
| 自由现金流经营现金流 - 资本支出 | $111.0M | — |
| 自由现金流率自由现金流/营收 | 28.8% | — |
| 资本支出强度资本支出/营收 | 3.6% | — |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $200.0M | — |
8季度趋势，按日历期对齐
经营现金流ASHPIII
| Q4 25 | $125.0M | $-25.7M | ||
| Q3 25 | $40.0M | $-15.4M | ||
| Q2 25 | $115.0M | $-16.6M | ||
| Q1 25 | $9.0M | $-33.5M | ||
| Q4 24 | $-30.0M | $-57.2M | ||
| Q3 24 | $80.0M | $-22.6M | ||
| Q2 24 | $127.0M | $-10.2M | ||
| Q1 24 | $54.0M | $-20.0M |
自由现金流ASHPIII
| Q4 25 | $111.0M | — | ||
| Q3 25 | $6.0M | — | ||
| Q2 25 | $95.0M | — | ||
| Q1 25 | $-12.0M | — | ||
| Q4 24 | $-53.0M | — | ||
| Q3 24 | $42.0M | — | ||
| Q2 24 | $98.0M | — | ||
| Q1 24 | $20.0M | — |
自由现金流率ASHPIII
| Q4 25 | 28.8% | — | ||
| Q3 25 | 1.3% | — | ||
| Q2 25 | 20.5% | — | ||
| Q1 25 | -2.5% | — | ||
| Q4 24 | -13.1% | — | ||
| Q3 24 | 8.1% | — | ||
| Q2 24 | 18.0% | — | ||
| Q1 24 | 3.5% | — |
资本支出强度ASHPIII
| Q4 25 | 3.6% | — | ||
| Q3 25 | 7.1% | — | ||
| Q2 25 | 4.3% | — | ||
| Q1 25 | 4.4% | — | ||
| Q4 24 | 5.7% | 0.0% | ||
| Q3 24 | 7.3% | 0.0% | ||
| Q2 24 | 5.3% | 0.0% | ||
| Q1 24 | 5.9% | 0.0% |
现金转化率ASHPIII
| Q4 25 | — | — | ||
| Q3 25 | 1.29× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.29× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 4.71× | — | ||
| Q2 24 | 21.17× | — | ||
| Q1 24 | 0.45× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
ASH
| Personal Care And Household | $123.0M | 32% |
| Other | $120.0M | 31% |
| Specialty Additives | $36.0M | 9% |
| Intermediates And Solvents | $31.0M | 8% |
| Personal Care | $30.0M | 8% |
| Life Sciences | $27.0M | 7% |
| Intermediates | $19.0M | 5% |
PIII
| Capitated Revenue | $366.2M | 95% |
| Health Care Patient Service | $18.6M | 5% |
| Health Care Care Coordination Management Fees | $2.7M | 1% |
