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Astrana Health, Inc.（ASTH）与Coinbase（COIN）财务数据对比。点击上方公司名可切换其他公司
Coinbase的季度营收约是Astrana Health, Inc.的1.9倍（$1.8B vs $950.5M），Astrana Health, Inc.净利率更高（0.7% vs -37.4%，领先38.1%），Astrana Health, Inc.同比增速更快（42.9% vs -21.6%），过去两年Astrana Health, Inc.的营收复合增速更高（53.3% vs 4.3%）
Astrana Health是一家总部位于美国的价值导向型医疗服务提供商，主要服务全美符合联邦医保资格的老年群体，提供上门初级护理、慢性病管理及护理协调服务，致力于提升患者健康水平、降低不必要的医疗支出。
Coinbase是美国知名加密货币交易所，2012年由布莱恩·阿姆斯特朗与弗雷德·埃尔萨姆联合创立。截至2024年，平台拥有超1亿用户，业务覆盖100多个国家，是美国最大加密货币交易所、全球最大比特币托管机构，托管总资产近5160亿美元，持有约12%的流通比特币及11%的质押以太币。
ASTH vs COIN — 直观对比
营收规模更大
COIN
是对方的1.9倍
$950.5M
营收增速更快
ASTH
高出64.5%
-21.6%
净利率更高
ASTH
高出38.1%
-37.4%
两年增速更快
ASTH
近两年复合增速
4.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $950.5M | $1.8B |
| 净利润 | $6.6M | $-666.7M |
| 毛利率 | — | — |
| 营业利润率 | 1.9% | 15.4% |
| 净利率 | 0.7% | -37.4% |
| 营收同比 | 42.9% | -21.6% |
| 净利润同比 | 184.4% | -151.6% |
| 每股收益（稀释后） | $0.12 | $-2.43 |
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ASTHCOIN
| Q4 25 | $950.5M | $1.8B | ||
| Q3 25 | $956.0M | $1.9B | ||
| Q2 25 | $654.8M | $1.5B | ||
| Q1 25 | $620.4M | $2.0B | ||
| Q4 24 | $665.2M | $2.3B | ||
| Q3 24 | $478.7M | $1.2B | ||
| Q2 24 | $486.3M | $1.4B | ||
| Q1 24 | $404.4M | $1.6B |
净利润ASTHCOIN
| Q4 25 | $6.6M | $-666.7M | ||
| Q3 25 | $373.0K | $432.6M | ||
| Q2 25 | $9.4M | $1.4B | ||
| Q1 25 | $6.7M | $65.6M | ||
| Q4 24 | $-7.8M | $1.3B | ||
| Q3 24 | $16.1M | $75.5M | ||
| Q2 24 | $19.2M | $36.1M | ||
| Q1 24 | $14.8M | $1.2B |
营业利润率ASTHCOIN
| Q4 25 | 1.9% | 15.4% | ||
| Q3 25 | 2.0% | 25.7% | ||
| Q2 25 | 3.1% | -1.6% | ||
| Q1 25 | 3.3% | 34.7% | ||
| Q4 24 | 0.1% | 45.5% | ||
| Q3 24 | 5.9% | 14.1% | ||
| Q2 24 | 6.2% | 23.7% | ||
| Q1 24 | 7.5% | 46.4% |
净利率ASTHCOIN
| Q4 25 | 0.7% | -37.4% | ||
| Q3 25 | 0.0% | 23.1% | ||
| Q2 25 | 1.4% | 95.4% | ||
| Q1 25 | 1.1% | 3.2% | ||
| Q4 24 | -1.2% | 56.8% | ||
| Q3 24 | 3.4% | 6.3% | ||
| Q2 24 | 3.9% | 2.5% | ||
| Q1 24 | 3.7% | 71.8% |
每股收益（稀释后）ASTHCOIN
| Q4 25 | $0.12 | $-2.43 | ||
| Q3 25 | $0.01 | $1.50 | ||
| Q2 25 | $0.19 | $5.14 | ||
| Q1 25 | $0.14 | $0.24 | ||
| Q4 24 | $-0.14 | $4.66 | ||
| Q3 24 | $0.33 | $0.28 | ||
| Q2 24 | $0.40 | $0.14 | ||
| Q1 24 | $0.31 | $4.40 |
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 | $429.5M | $11.6B |
| 总债务越低越好 | — | $7.2B |
| 股东权益账面价值 | $779.3M | $14.8B |
| 总资产 | $2.2B | $29.7B |
| 负债/权益比越低杠杆越低 | — | 0.49× |
8季度趋势，按日历期对齐
现金及短期投资ASTHCOIN
| Q4 25 | $429.5M | $11.6B | ||
| Q3 25 | $463.4M | $9.8B | ||
| Q2 25 | $342.1M | $7.5B | ||
| Q1 25 | $260.9M | $8.1B | ||
| Q4 24 | $290.8M | $8.5B | ||
| Q3 24 | $350.3M | $7.7B | ||
| Q2 24 | $327.7M | $7.2B | ||
| Q1 24 | $337.3M | $6.7B |
总债务ASTHCOIN
| Q4 25 | — | $7.2B | ||
| Q3 25 | — | $7.2B | ||
| Q2 25 | — | $4.2B | ||
| Q1 25 | — | $4.2B | ||
| Q4 24 | — | $4.2B | ||
| Q3 24 | — | $4.2B | ||
| Q2 24 | — | $4.2B | ||
| Q1 24 | — | $4.2B |
股东权益ASTHCOIN
| Q4 25 | $779.3M | $14.8B | ||
| Q3 25 | $775.5M | $16.0B | ||
| Q2 25 | $765.5M | $12.1B | ||
| Q1 25 | $745.4M | $10.5B | ||
| Q4 24 | $712.7M | $10.3B | ||
| Q3 24 | $704.6M | $8.7B | ||
| Q2 24 | $678.9M | $8.4B | ||
| Q1 24 | $653.5M | $8.1B |
总资产ASTHCOIN
| Q4 25 | $2.2B | $29.7B | ||
| Q3 25 | $2.2B | $31.4B | ||
| Q2 25 | $1.4B | $23.5B | ||
| Q1 25 | $1.3B | $21.7B | ||
| Q4 24 | $1.4B | $22.5B | ||
| Q3 24 | $1.3B | $290.6B | ||
| Q2 24 | $1.3B | $287.0B | ||
| Q1 24 | $1.2B | $348.0B |
负债/权益比ASTHCOIN
| Q4 25 | — | 0.49× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 0.35× | ||
| Q1 25 | — | 0.40× | ||
| Q4 24 | — | 0.41× | ||
| Q3 24 | — | 0.48× | ||
| Q2 24 | — | 0.51× | ||
| Q1 24 | — | 0.52× |
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 | $-2.9M | $3.1B |
| 自由现金流经营现金流 - 资本支出 | $-6.0M | — |
| 自由现金流率自由现金流/营收 | -0.6% | — |
| 资本支出强度资本支出/营收 | 0.3% | — |
| 现金转化率经营现金流/净利润 | -0.44× | — |
| 过去12个月自由现金流最近4个季度 | $104.5M | — |
8季度趋势，按日历期对齐
经营现金流ASTHCOIN
| Q4 25 | $-2.9M | $3.1B | ||
| Q3 25 | $10.0M | $-784.5M | ||
| Q2 25 | $90.9M | $328.5M | ||
| Q1 25 | $16.6M | $-182.7M | ||
| Q4 24 | $-10.9M | $964.6M | ||
| Q3 24 | $34.0M | $696.5M | ||
| Q2 24 | $23.2M | $484.2M | ||
| Q1 24 | $6.0M | $411.5M |
自由现金流ASTHCOIN
| 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 | — |
自由现金流率ASTHCOIN
| 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% | — |
资本支出强度ASTHCOIN
| 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% | — |
现金转化率ASTHCOIN
| Q4 25 | -0.44× | — | ||
| Q3 25 | 26.69× | -1.81× | ||
| Q2 25 | 9.65× | 0.23× | ||
| Q1 25 | 2.48× | -2.79× | ||
| Q4 24 | — | 0.75× | ||
| Q3 24 | 2.11× | 9.23× | ||
| Q2 24 | 1.21× | 13.39× | ||
| Q1 24 | 0.40× | 0.35× |
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
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% |
COIN
| Bank Servicing Consumer Net | $733.9M | 41% |
| Subscription And Circulation | $727.4M | 41% |
| Bank Servicing Institutional | $185.0M | 10% |
| Other Revenue | $71.1M | 4% |
| Bank Servicing Other | $63.8M | 4% |
| Related Party | $1.3M | 0% |
