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Astrana Health, Inc.（ASTH）与高德纳（IT）财务数据对比。点击上方公司名可切换其他公司
高德纳的季度营收约是Astrana Health, Inc.的1.8倍（$1.8B vs $950.5M），高德纳净利率更高（13.8% vs 0.7%，领先13.1%），Astrana Health, Inc.同比增速更快（42.9% vs 2.2%），高德纳自由现金流更多（$270.7M vs $-6.0M），过去两年Astrana Health, Inc.的营收复合增速更高（53.3% vs 9.1%）
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。
高德纳是美国专注于商业与科技领域的研究咨询机构，服务客户覆盖大型企业、政府机构、科技公司、投资机构等群体，通过输出研究报告、举办行业峰会、提供定制咨询等形式，为客户决策提供权威专业的洞见支撑。
ASTH vs IT — 直观对比
营收规模更大
IT
是对方的1.8倍
$950.5M
营收增速更快
ASTH
高出40.7%
2.2%
净利率更高
IT
高出13.1%
0.7%
自由现金流更多
IT
多$276.7M
$-6.0M
两年增速更快
ASTH
近两年复合增速
9.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $950.5M | $1.8B |
| 净利润 | $6.6M | $242.2M |
| 毛利率 | — | 67.8% |
| 营业利润率 | 1.9% | 19.1% |
| 净利率 | 0.7% | 13.8% |
| 营收同比 | 42.9% | 2.2% |
| 净利润同比 | 184.4% | -39.2% |
| 每股收益（稀释后） | $0.12 | $3.36 |
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ASTHIT
| Q4 25 | $950.5M | $1.8B | ||
| Q3 25 | $956.0M | $1.5B | ||
| Q2 25 | $654.8M | $1.7B | ||
| Q1 25 | $620.4M | $1.5B | ||
| Q4 24 | $665.2M | $1.7B | ||
| Q3 24 | $478.7M | $1.5B | ||
| Q2 24 | $486.3M | $1.6B | ||
| Q1 24 | $404.4M | $1.5B |
净利润ASTHIT
| Q4 25 | $6.6M | $242.2M | ||
| Q3 25 | $373.0K | $35.4M | ||
| Q2 25 | $9.4M | $240.8M | ||
| Q1 25 | $6.7M | $210.9M | ||
| Q4 24 | $-7.8M | $398.6M | ||
| Q3 24 | $16.1M | $415.0M | ||
| Q2 24 | $19.2M | $229.5M | ||
| Q1 24 | $14.8M | $210.5M |
毛利率ASTHIT
| Q4 25 | — | 67.8% | ||
| Q3 25 | — | 69.3% | ||
| Q2 25 | — | 68.6% | ||
| Q1 25 | — | 69.4% | ||
| Q4 24 | — | 66.8% | ||
| Q3 24 | — | 68.4% | ||
| Q2 24 | — | 68.6% | ||
| Q1 24 | — | 69.4% |
营业利润率ASTHIT
| Q4 25 | 1.9% | 19.1% | ||
| Q3 25 | 2.0% | 5.7% | ||
| Q2 25 | 3.1% | 19.4% | ||
| Q1 25 | 3.3% | 18.1% | ||
| Q4 24 | 0.1% | 18.5% | ||
| Q3 24 | 5.9% | 16.6% | ||
| Q2 24 | 6.2% | 20.0% | ||
| Q1 24 | 7.5% | 18.6% |
净利率ASTHIT
| Q4 25 | 0.7% | 13.8% | ||
| Q3 25 | 0.0% | 2.3% | ||
| Q2 25 | 1.4% | 14.3% | ||
| Q1 25 | 1.1% | 13.7% | ||
| Q4 24 | -1.2% | 23.2% | ||
| Q3 24 | 3.4% | 28.0% | ||
| Q2 24 | 3.9% | 14.4% | ||
| Q1 24 | 3.7% | 14.3% |
每股收益（稀释后）ASTHIT
| Q4 25 | $0.12 | $3.36 | ||
| Q3 25 | $0.01 | $0.47 | ||
| Q2 25 | $0.19 | $3.11 | ||
| Q1 25 | $0.14 | $2.71 | ||
| Q4 24 | $-0.14 | $5.08 | ||
| Q3 24 | $0.33 | $5.32 | ||
| Q2 24 | $0.40 | $2.93 | ||
| Q1 24 | $0.31 | $2.67 |
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 | $1.7B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $779.3M | $319.9M |
| 总资产 | $2.2B | $8.1B |
| 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ASTHIT
| Q4 25 | $429.5M | $1.7B | ||
| Q3 25 | $463.4M | $1.4B | ||
| Q2 25 | $342.1M | $2.2B | ||
| Q1 25 | $260.9M | $2.1B | ||
| Q4 24 | $290.8M | $1.9B | ||
| Q3 24 | $350.3M | $1.8B | ||
| Q2 24 | $327.7M | $1.2B | ||
| Q1 24 | $337.3M | $1.2B |
股东权益ASTHIT
| Q4 25 | $779.3M | $319.9M | ||
| Q3 25 | $775.5M | $556.6M | ||
| Q2 25 | $765.5M | $1.5B | ||
| Q1 25 | $745.4M | $1.5B | ||
| Q4 24 | $712.7M | $1.4B | ||
| Q3 24 | $704.6M | $1.1B | ||
| Q2 24 | $678.9M | $646.7M | ||
| Q1 24 | $653.5M | $718.2M |
总资产ASTHIT
| Q4 25 | $2.2B | $8.1B | ||
| Q3 25 | $2.2B | $7.2B | ||
| Q2 25 | $1.4B | $8.3B | ||
| Q1 25 | $1.3B | $8.5B | ||
| Q4 24 | $1.4B | $8.5B | ||
| Q3 24 | $1.3B | $7.8B | ||
| Q2 24 | $1.3B | $7.4B | ||
| Q1 24 | $1.2B | $7.7B |
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 | $294.5M |
| 自由现金流经营现金流 - 资本支出 | $-6.0M | $270.7M |
| 自由现金流率自由现金流/营收 | -0.6% | 15.4% |
| 资本支出强度资本支出/营收 | 0.3% | 1.4% |
| 现金转化率经营现金流/净利润 | -0.44× | 1.22× |
| 过去12个月自由现金流最近4个季度 | $104.5M | $1.2B |
8季度趋势，按日历期对齐
经营现金流ASTHIT
| Q4 25 | $-2.9M | $294.5M | ||
| Q3 25 | $10.0M | $298.7M | ||
| Q2 25 | $90.9M | $383.6M | ||
| Q1 25 | $16.6M | $313.5M | ||
| Q4 24 | $-10.9M | $335.4M | ||
| Q3 24 | $34.0M | $590.8M | ||
| Q2 24 | $23.2M | $370.0M | ||
| Q1 24 | $6.0M | $188.8M |
自由现金流ASTHIT
| Q4 25 | $-6.0M | $270.7M | ||
| Q3 25 | $7.4M | $269.3M | ||
| Q2 25 | $89.5M | $347.3M | ||
| Q1 25 | $13.6M | $287.9M | ||
| Q4 24 | $-13.5M | $311.4M | ||
| Q3 24 | $31.7M | $565.0M | ||
| Q2 24 | $20.4M | $340.6M | ||
| Q1 24 | $5.6M | $166.2M |
自由现金流率ASTHIT
| Q4 25 | -0.6% | 15.4% | ||
| Q3 25 | 0.8% | 17.7% | ||
| Q2 25 | 13.7% | 20.6% | ||
| Q1 25 | 2.2% | 18.8% | ||
| Q4 24 | -2.0% | 18.2% | ||
| Q3 24 | 6.6% | 38.1% | ||
| Q2 24 | 4.2% | 21.4% | ||
| Q1 24 | 1.4% | 11.3% |
资本支出强度ASTHIT
| Q4 25 | 0.3% | 1.4% | ||
| Q3 25 | 0.3% | 1.9% | ||
| Q2 25 | 0.2% | 2.1% | ||
| Q1 25 | 0.5% | 1.7% | ||
| Q4 24 | 0.4% | 1.4% | ||
| Q3 24 | 0.5% | 1.7% | ||
| Q2 24 | 0.6% | 1.8% | ||
| Q1 24 | 0.1% | 1.5% |
现金转化率ASTHIT
| Q4 25 | -0.44× | 1.22× | ||
| Q3 25 | 26.69× | 8.45× | ||
| Q2 25 | 9.65× | 1.59× | ||
| Q1 25 | 2.48× | 1.49× | ||
| Q4 24 | — | 0.84× | ||
| Q3 24 | 2.11× | 1.42× | ||
| Q2 24 | 1.21× | 1.61× | ||
| Q1 24 | 0.40× | 0.90× |
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% |
IT
| Transferred Over Time | $1.3B | 73% |
| Conferences | $286.2M | 16% |
| Consulting | $133.6M | 8% |
| Other | $52.3M | 3% |
