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Astrana Health, Inc.（ASTH）与孩之宝（HAS）财务数据对比。点击上方公司名可切换其他公司
孩之宝的季度营收约是Astrana Health, Inc.的1.5倍（$1.4B vs $950.5M），孩之宝净利率更高（13.9% vs 0.7%，领先13.3%），Astrana Health, Inc.同比增速更快（42.9% vs 31.3%），孩之宝自由现金流更多（$389.5M vs $-6.0M），过去两年Astrana Health, Inc.的营收复合增速更高（53.3% vs 38.2%）
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。
孩之宝是1923年12月6日成立的美国跨国玩具制造与娱乐控股企业，总部位于罗德岛州波塔基特。旗下拥有Kenner、米尔顿·布拉德利、派克兄弟、威世智等知名品牌，持有大量热门IP商标权，业务覆盖玩具生产、游戏开发、娱乐内容出品等多个领域。
ASTH vs HAS — 直观对比
营收规模更大
HAS
是对方的1.5倍
$950.5M
营收增速更快
ASTH
高出11.6%
31.3%
净利率更高
HAS
高出13.3%
0.7%
自由现金流更多
HAS
多$395.4M
$-6.0M
两年增速更快
ASTH
近两年复合增速
38.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $950.5M | $1.4B |
| 净利润 | $6.6M | $201.6M |
| 毛利率 | — | 68.7% |
| 营业利润率 | 1.9% | 20.6% |
| 净利率 | 0.7% | 13.9% |
| 营收同比 | 42.9% | 31.3% |
| 净利润同比 | 184.4% | 687.8% |
| 每股收益（稀释后） | $0.12 | $1.46 |
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ASTHHAS
| Q4 25 | $950.5M | $1.4B | ||
| Q3 25 | $956.0M | $1.4B | ||
| Q2 25 | $654.8M | $980.8M | ||
| Q1 25 | $620.4M | $887.1M | ||
| Q4 24 | $665.2M | $1.1B | ||
| Q3 24 | $478.7M | $1.3B | ||
| Q2 24 | $486.3M | $995.3M | ||
| Q1 24 | $404.4M | $757.3M |
净利润ASTHHAS
| Q4 25 | $6.6M | $201.6M | ||
| Q3 25 | $373.0K | $233.2M | ||
| Q2 25 | $9.4M | $-855.8M | ||
| Q1 25 | $6.7M | $98.6M | ||
| Q4 24 | $-7.8M | $-34.3M | ||
| Q3 24 | $16.1M | $223.2M | ||
| Q2 24 | $19.2M | $138.5M | ||
| Q1 24 | $14.8M | $58.2M |
毛利率ASTHHAS
| Q4 25 | — | 68.7% | ||
| Q3 25 | — | 70.1% | ||
| Q2 25 | — | 77.0% | ||
| Q1 25 | — | 76.9% | ||
| Q4 24 | — | 67.4% | ||
| Q3 24 | — | 70.4% | ||
| Q2 24 | — | 76.1% | ||
| Q1 24 | — | 73.0% |
营业利润率ASTHHAS
| Q4 25 | 1.9% | 20.6% | ||
| Q3 25 | 2.0% | 24.6% | ||
| Q2 25 | 3.1% | -81.4% | ||
| Q1 25 | 3.3% | 19.2% | ||
| Q4 24 | 0.1% | 5.4% | ||
| Q3 24 | 5.9% | 23.6% | ||
| Q2 24 | 6.2% | 21.3% | ||
| Q1 24 | 7.5% | 15.3% |
净利率ASTHHAS
| Q4 25 | 0.7% | 13.9% | ||
| Q3 25 | 0.0% | 16.8% | ||
| Q2 25 | 1.4% | -87.3% | ||
| Q1 25 | 1.1% | 11.1% | ||
| Q4 24 | -1.2% | -3.1% | ||
| Q3 24 | 3.4% | 17.4% | ||
| Q2 24 | 3.9% | 13.9% | ||
| Q1 24 | 3.7% | 7.7% |
每股收益（稀释后）ASTHHAS
| Q4 25 | $0.12 | $1.46 | ||
| Q3 25 | $0.01 | $1.64 | ||
| Q2 25 | $0.19 | $-6.10 | ||
| Q1 25 | $0.14 | $0.70 | ||
| Q4 24 | $-0.14 | $-0.25 | ||
| Q3 24 | $0.33 | $1.59 | ||
| Q2 24 | $0.40 | $0.99 | ||
| Q1 24 | $0.31 | $0.42 |
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 | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $779.3M | $565.5M |
| 总资产 | $2.2B | $5.6B |
| 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ASTHHAS
| Q4 25 | $429.5M | — | ||
| Q3 25 | $463.4M | — | ||
| Q2 25 | $342.1M | — | ||
| Q1 25 | $260.9M | — | ||
| Q4 24 | $290.8M | — | ||
| Q3 24 | $350.3M | — | ||
| Q2 24 | $327.7M | — | ||
| Q1 24 | $337.3M | — |
股东权益ASTHHAS
| Q4 25 | $779.3M | $565.5M | ||
| Q3 25 | $775.5M | $433.8M | ||
| Q2 25 | $765.5M | $269.7M | ||
| Q1 25 | $745.4M | $1.2B | ||
| Q4 24 | $712.7M | $1.2B | ||
| Q3 24 | $704.6M | $1.3B | ||
| Q2 24 | $678.9M | $1.2B | ||
| Q1 24 | $653.5M | $1.0B |
总资产ASTHHAS
| Q4 25 | $2.2B | $5.6B | ||
| Q3 25 | $2.2B | $5.5B | ||
| Q2 25 | $1.4B | $5.2B | ||
| Q1 25 | $1.3B | $6.0B | ||
| Q4 24 | $1.4B | $6.3B | ||
| Q3 24 | $1.3B | $7.2B | ||
| Q2 24 | $1.3B | $6.9B | ||
| Q1 24 | $1.2B | $6.2B |
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 | $403.2M |
| 自由现金流经营现金流 - 资本支出 | $-6.0M | $389.5M |
| 自由现金流率自由现金流/营收 | -0.6% | 26.9% |
| 资本支出强度资本支出/营收 | 0.3% | 0.9% |
| 现金转化率经营现金流/净利润 | -0.44× | 2.00× |
| 过去12个月自由现金流最近4个季度 | $104.5M | $829.9M |
8季度趋势，按日历期对齐
经营现金流ASTHHAS
| Q4 25 | $-2.9M | $403.2M | ||
| Q3 25 | $10.0M | $280.6M | ||
| Q2 25 | $90.9M | $71.3M | ||
| Q1 25 | $16.6M | $138.1M | ||
| Q4 24 | $-10.9M | $259.8M | ||
| Q3 24 | $34.0M | $222.5M | ||
| Q2 24 | $23.2M | $187.3M | ||
| Q1 24 | $6.0M | $177.8M |
自由现金流ASTHHAS
| Q4 25 | $-6.0M | $389.5M | ||
| Q3 25 | $7.4M | $260.9M | ||
| Q2 25 | $89.5M | $55.2M | ||
| Q1 25 | $13.6M | $124.3M | ||
| Q4 24 | $-13.5M | $200.8M | ||
| Q3 24 | $31.7M | $174.0M | ||
| Q2 24 | $20.4M | $135.4M | ||
| Q1 24 | $5.6M | $132.0M |
自由现金流率ASTHHAS
| Q4 25 | -0.6% | 26.9% | ||
| Q3 25 | 0.8% | 18.8% | ||
| Q2 25 | 13.7% | 5.6% | ||
| Q1 25 | 2.2% | 14.0% | ||
| Q4 24 | -2.0% | 18.2% | ||
| Q3 24 | 6.6% | 13.6% | ||
| Q2 24 | 4.2% | 13.6% | ||
| Q1 24 | 1.4% | 17.4% |
资本支出强度ASTHHAS
| Q4 25 | 0.3% | 0.9% | ||
| Q3 25 | 0.3% | 1.4% | ||
| Q2 25 | 0.2% | 1.6% | ||
| Q1 25 | 0.5% | 1.6% | ||
| Q4 24 | 0.4% | 5.4% | ||
| Q3 24 | 0.5% | 3.8% | ||
| Q2 24 | 0.6% | 5.2% | ||
| Q1 24 | 0.1% | 6.0% |
现金转化率ASTHHAS
| Q4 25 | -0.44× | 2.00× | ||
| Q3 25 | 26.69× | 1.20× | ||
| Q2 25 | 9.65× | — | ||
| Q1 25 | 2.48× | 1.40× | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.11× | 1.00× | ||
| Q2 24 | 1.21× | 1.35× | ||
| Q1 24 | 0.40× | 3.05× |
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% |
HAS
| Grow Brands | $1.1B | 75% |
| Optimize Brands | $188.7M | 13% |
| Digital And Licensing Gaming | $135.7M | 9% |
| Class Of Principal Product Family Brands | $13.1M | 1% |
| Filmand TV | $2.4M | 0% |
