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Astrana Health, Inc.（ASTH）与六旗（FUN）财务数据对比。点击上方公司名可切换其他公司
Astrana Health, Inc.的季度营收约是六旗的1.5倍（$950.5M vs $650.1M），Astrana Health, Inc.净利率更高（0.7% vs -14.2%，领先14.9%），Astrana Health, Inc.自由现金流更多（$-6.0M vs $-109.3M）
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。
六旗娱乐是总部位于美国北卡罗来纳州夏洛特的游乐园运营企业，由雪松会与原六旗公司于2024年7月1日对等合并而成，是全球最大的区域性游乐园运营商。旗下共运营42个场地，包含27座游乐园、15座水上乐园，配套9处 onsite 度假物业。
ASTH vs FUN — 直观对比
营收规模更大
ASTH
是对方的1.5倍
$650.1M
净利率更高
ASTH
高出14.9%
-14.2%
自由现金流更多
ASTH
多$103.3M
$-109.3M
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $950.5M | $650.1M |
| 净利润 | $6.6M | $-92.4M |
| 毛利率 | — | 91.4% |
| 营业利润率 | 1.9% | -3.8% |
| 净利率 | 0.7% | -14.2% |
| 营收同比 | 42.9% | — |
| 净利润同比 | 184.4% | — |
| 每股收益（稀释后） | $0.12 | $-0.93 |
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ASTHFUN
| Q4 25 | $950.5M | $650.1M | ||
| Q3 25 | $956.0M | $1.3B | ||
| Q2 25 | $654.8M | $930.4M | ||
| Q1 25 | $620.4M | $202.1M | ||
| Q4 24 | $665.2M | — | ||
| Q3 24 | $478.7M | $1.3B | ||
| Q2 24 | $486.3M | $571.6M | ||
| Q1 24 | $404.4M | — |
净利润ASTHFUN
| Q4 25 | $6.6M | $-92.4M | ||
| Q3 25 | $373.0K | $-1.2B | ||
| Q2 25 | $9.4M | $-99.6M | ||
| Q1 25 | $6.7M | $-219.7M | ||
| Q4 24 | $-7.8M | — | ||
| Q3 24 | $16.1M | $111.0M | ||
| Q2 24 | $19.2M | $55.6M | ||
| Q1 24 | $14.8M | — |
毛利率ASTHFUN
| Q4 25 | — | 91.4% | ||
| Q3 25 | — | 91.6% | ||
| Q2 25 | — | 91.3% | ||
| Q1 25 | — | 89.3% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 91.9% | ||
| Q2 24 | — | 90.7% | ||
| Q1 24 | — | — |
营业利润率ASTHFUN
| Q4 25 | 1.9% | -3.8% | ||
| Q3 25 | 2.0% | -83.7% | ||
| Q2 25 | 3.1% | 8.0% | ||
| Q1 25 | 3.3% | -158.9% | ||
| Q4 24 | 0.1% | — | ||
| Q3 24 | 5.9% | 19.5% | ||
| Q2 24 | 6.2% | 21.6% | ||
| Q1 24 | 7.5% | — |
净利率ASTHFUN
| Q4 25 | 0.7% | -14.2% | ||
| Q3 25 | 0.0% | -90.1% | ||
| Q2 25 | 1.4% | -10.7% | ||
| Q1 25 | 1.1% | -108.7% | ||
| Q4 24 | -1.2% | — | ||
| Q3 24 | 3.4% | 8.2% | ||
| Q2 24 | 3.9% | 9.7% | ||
| Q1 24 | 3.7% | — |
每股收益（稀释后）ASTHFUN
| Q4 25 | $0.12 | $-0.93 | ||
| Q3 25 | $0.01 | $-11.77 | ||
| Q2 25 | $0.19 | $-0.99 | ||
| Q1 25 | $0.14 | $-2.20 | ||
| Q4 24 | $-0.14 | — | ||
| Q3 24 | $0.33 | $1.10 | ||
| 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 | $91.1M |
| 总债务越低越好 | — | $5.2B |
| 股东权益账面价值 | $779.3M | $549.8M |
| 总资产 | $2.2B | $7.8B |
| 负债/权益比越低杠杆越低 | — | 9.40× |
8季度趋势，按日历期对齐
现金及短期投资ASTHFUN
| Q4 25 | $429.5M | $91.1M | ||
| Q3 25 | $463.4M | $70.7M | ||
| Q2 25 | $342.1M | $107.4M | ||
| Q1 25 | $260.9M | $61.5M | ||
| Q4 24 | $290.8M | — | ||
| Q3 24 | $350.3M | $89.7M | ||
| Q2 24 | $327.7M | $52.9M | ||
| Q1 24 | $337.3M | — |
总债务ASTHFUN
| Q4 25 | — | $5.2B | ||
| Q3 25 | — | $5.0B | ||
| Q2 25 | — | $5.3B | ||
| Q1 25 | — | $5.0B | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $4.6B | ||
| Q2 24 | — | $2.3B | ||
| Q1 24 | — | — |
股东权益ASTHFUN
| Q4 25 | $779.3M | $549.8M | ||
| Q3 25 | $775.5M | $614.3M | ||
| Q2 25 | $765.5M | $1.8B | ||
| Q1 25 | $745.4M | $1.8B | ||
| Q4 24 | $712.7M | — | ||
| Q3 24 | $704.6M | $2.3B | ||
| Q2 24 | $678.9M | — | ||
| Q1 24 | $653.5M | — |
总资产ASTHFUN
| Q4 25 | $2.2B | $7.8B | ||
| Q3 25 | $2.2B | $7.9B | ||
| Q2 25 | $1.4B | $9.5B | ||
| Q1 25 | $1.3B | $9.2B | ||
| Q4 24 | $1.4B | — | ||
| Q3 24 | $1.3B | $9.4B | ||
| Q2 24 | $1.3B | $2.3B | ||
| Q1 24 | $1.2B | — |
负债/权益比ASTHFUN
| Q4 25 | — | 9.40× | ||
| Q3 25 | — | 8.16× | ||
| Q2 25 | — | 2.97× | ||
| Q1 25 | — | 2.75× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.95× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $-37.7M |
| 自由现金流经营现金流 - 资本支出 | $-6.0M | $-109.3M |
| 自由现金流率自由现金流/营收 | -0.6% | -16.8% |
| 资本支出强度资本支出/营收 | 0.3% | 11.0% |
| 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 | $-152.2M |
8季度趋势，按日历期对齐
经营现金流ASTHFUN
| Q4 25 | $-2.9M | $-37.7M | ||
| Q3 25 | $10.0M | $356.2M | ||
| Q2 25 | $90.9M | $187.0M | ||
| Q1 25 | $16.6M | $-178.0M | ||
| Q4 24 | $-10.9M | — | ||
| Q3 24 | $34.0M | $337.4M | ||
| Q2 24 | $23.2M | — | ||
| Q1 24 | $6.0M | — |
自由现金流ASTHFUN
| Q4 25 | $-6.0M | $-109.3M | ||
| Q3 25 | $7.4M | $256.2M | ||
| Q2 25 | $89.5M | $18.8M | ||
| Q1 25 | $13.6M | $-318.0M | ||
| Q4 24 | $-13.5M | — | ||
| Q3 24 | $31.7M | $227.7M | ||
| Q2 24 | $20.4M | — | ||
| Q1 24 | $5.6M | — |
自由现金流率ASTHFUN
| Q4 25 | -0.6% | -16.8% | ||
| Q3 25 | 0.8% | 19.4% | ||
| Q2 25 | 13.7% | 2.0% | ||
| Q1 25 | 2.2% | -157.4% | ||
| Q4 24 | -2.0% | — | ||
| Q3 24 | 6.6% | 16.9% | ||
| Q2 24 | 4.2% | — | ||
| Q1 24 | 1.4% | — |
资本支出强度ASTHFUN
| Q4 25 | 0.3% | 11.0% | ||
| Q3 25 | 0.3% | 7.6% | ||
| Q2 25 | 0.2% | 18.1% | ||
| Q1 25 | 0.5% | 69.3% | ||
| Q4 24 | 0.4% | — | ||
| Q3 24 | 0.5% | 8.1% | ||
| Q2 24 | 0.6% | — | ||
| Q1 24 | 0.1% | — |
现金转化率ASTHFUN
| Q4 25 | -0.44× | — | ||
| Q3 25 | 26.69× | — | ||
| Q2 25 | 9.65× | — | ||
| Q1 25 | 2.48× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.11× | 3.04× | ||
| 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% |
FUN
| Admission | $327.4M | 50% |
| Food Merchandiseand Gaming | $205.7M | 32% |
| Accommodations Extra Charge Products And Other | $117.0M | 18% |
