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Astrana Health, Inc.（ASTH）与DOCUSIGN, INC.（DOCU）财务数据对比。点击上方公司名可切换其他公司
Astrana Health, Inc.的季度营收约是DOCUSIGN, INC.的1.2倍（$950.5M vs $818.4M），DOCUSIGN, INC.净利率更高（10.2% vs 0.7%，领先9.5%），Astrana Health, Inc.同比增速更快（42.9% vs 8.4%），DOCUSIGN, INC.自由现金流更多（$262.9M vs $-6.0M）
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。
DocuSign是总部位于美国加利福尼亚州旧金山的软件企业，为各类机构提供多设备支持的电子协议管理及电子签名相关产品。截至2025年，公司在180个国家拥有约170万客户，其处理的签名符合美国ESIGN法案、欧盟eIDAS法规要求，满足欧盟高级及合格签名标准。
ASTH vs DOCU — 直观对比
营收规模更大
ASTH
是对方的1.2倍
$818.4M
营收增速更快
ASTH
高出34.5%
8.4%
净利率更高
DOCU
高出9.5%
0.7%
自由现金流更多
DOCU
多$268.9M
$-6.0M
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $950.5M | $818.4M |
| 净利润 | $6.6M | $83.7M |
| 毛利率 | — | 79.2% |
| 营业利润率 | 1.9% | 10.4% |
| 净利率 | 0.7% | 10.2% |
| 营收同比 | 42.9% | 8.4% |
| 净利润同比 | 184.4% | 34.1% |
| 每股收益（稀释后） | $0.12 | $0.40 |
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ASTHDOCU
| Q4 25 | $950.5M | $818.4M | ||
| Q3 25 | $956.0M | $800.6M | ||
| Q2 25 | $654.8M | $763.7M | ||
| Q1 25 | $620.4M | — | ||
| Q4 24 | $665.2M | — | ||
| Q3 24 | $478.7M | — | ||
| Q2 24 | $486.3M | — | ||
| Q1 24 | $404.4M | — |
净利润ASTHDOCU
| Q4 25 | $6.6M | $83.7M | ||
| Q3 25 | $373.0K | $63.0M | ||
| Q2 25 | $9.4M | $72.1M | ||
| Q1 25 | $6.7M | — | ||
| Q4 24 | $-7.8M | — | ||
| Q3 24 | $16.1M | — | ||
| Q2 24 | $19.2M | — | ||
| Q1 24 | $14.8M | — |
毛利率ASTHDOCU
| Q4 25 | — | 79.2% | ||
| Q3 25 | — | 79.3% | ||
| Q2 25 | — | 79.4% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
营业利润率ASTHDOCU
| Q4 25 | 1.9% | 10.4% | ||
| Q3 25 | 2.0% | 8.1% | ||
| Q2 25 | 3.1% | 7.9% | ||
| Q1 25 | 3.3% | — | ||
| Q4 24 | 0.1% | — | ||
| Q3 24 | 5.9% | — | ||
| Q2 24 | 6.2% | — | ||
| Q1 24 | 7.5% | — |
净利率ASTHDOCU
| Q4 25 | 0.7% | 10.2% | ||
| Q3 25 | 0.0% | 7.9% | ||
| Q2 25 | 1.4% | 9.4% | ||
| Q1 25 | 1.1% | — | ||
| Q4 24 | -1.2% | — | ||
| Q3 24 | 3.4% | — | ||
| Q2 24 | 3.9% | — | ||
| Q1 24 | 3.7% | — |
每股收益（稀释后）ASTHDOCU
| Q4 25 | $0.12 | $0.40 | ||
| Q3 25 | $0.01 | $0.30 | ||
| Q2 25 | $0.19 | $0.34 | ||
| Q1 25 | $0.14 | — | ||
| Q4 24 | $-0.14 | — | ||
| Q3 24 | $0.33 | — | ||
| Q2 24 | $0.40 | — | ||
| Q1 24 | $0.31 | — |
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 | $583.3M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $779.3M | $2.0B |
| 总资产 | $2.2B | $4.0B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资ASTHDOCU
| Q4 25 | $429.5M | $583.3M | ||
| Q3 25 | $463.4M | $600.0M | ||
| Q2 25 | $342.1M | $657.4M | ||
| Q1 25 | $260.9M | — | ||
| Q4 24 | $290.8M | — | ||
| Q3 24 | $350.3M | — | ||
| Q2 24 | $327.7M | — | ||
| Q1 24 | $337.3M | — |
股东权益ASTHDOCU
| Q4 25 | $779.3M | $2.0B | ||
| Q3 25 | $775.5M | $2.0B | ||
| Q2 25 | $765.5M | $2.0B | ||
| Q1 25 | $745.4M | — | ||
| Q4 24 | $712.7M | — | ||
| Q3 24 | $704.6M | — | ||
| Q2 24 | $678.9M | — | ||
| Q1 24 | $653.5M | — |
总资产ASTHDOCU
| Q4 25 | $2.2B | $4.0B | ||
| Q3 25 | $2.2B | $3.9B | ||
| Q2 25 | $1.4B | $3.9B | ||
| Q1 25 | $1.3B | — | ||
| Q4 24 | $1.4B | — | ||
| Q3 24 | $1.3B | — | ||
| Q2 24 | $1.3B | — | ||
| Q1 24 | $1.2B | — |
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 | $290.3M |
| 自由现金流经营现金流 - 资本支出 | $-6.0M | $262.9M |
| 自由现金流率自由现金流/营收 | -0.6% | 32.1% |
| 资本支出强度资本支出/营收 | 0.3% | 3.3% |
| 现金转化率经营现金流/净利润 | -0.44× | 3.47× |
| 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ASTHDOCU
| Q4 25 | $-2.9M | $290.3M | ||
| Q3 25 | $10.0M | $246.1M | ||
| Q2 25 | $90.9M | $251.4M | ||
| Q1 25 | $16.6M | — | ||
| Q4 24 | $-10.9M | — | ||
| Q3 24 | $34.0M | — | ||
| Q2 24 | $23.2M | — | ||
| Q1 24 | $6.0M | — |
自由现金流ASTHDOCU
| Q4 25 | $-6.0M | $262.9M | ||
| Q3 25 | $7.4M | $217.6M | ||
| Q2 25 | $89.5M | $227.8M | ||
| 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ASTHDOCU
| Q4 25 | -0.6% | 32.1% | ||
| Q3 25 | 0.8% | 27.2% | ||
| Q2 25 | 13.7% | 29.8% | ||
| 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ASTHDOCU
| Q4 25 | 0.3% | 3.3% | ||
| Q3 25 | 0.3% | 3.6% | ||
| Q2 25 | 0.2% | 3.1% | ||
| 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ASTHDOCU
| Q4 25 | -0.44× | 3.47× | ||
| Q3 25 | 26.69× | 3.91× | ||
| Q2 25 | 9.65× | 3.49× | ||
| Q1 25 | 2.48× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.11× | — | ||
| Q2 24 | 1.21× | — | ||
| Q1 24 | 0.40× | — |
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% |
DOCU
| Subscription And Circulation | $801.0M | 98% |
| Professional Services And Other | $17.4M | 2% |
