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Astrana Health, Inc.（ASTH）与Stride, Inc.（LRN）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Stride, Inc.的1.5倍（$950.5M vs $629.9M），Stride, Inc.净利率更高（14.1% vs 0.7%，领先13.4%），Astrana Health, Inc.同比增速更快（42.9% vs 2.7%），过去两年Astrana Health, Inc.的营收复合增速更高（53.3% vs 6.9%）
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。
Stride, Inc.是一家营利性教育机构，主营在线及混合式教育项目。作为教育管理机构，其为K12阶段公立学校学生提供替代传统线下教学的在线教育方案，同时也开设职业学习课程。截至2012年，这家上市企业是全球招生规模最大的教育管理机构。
ASTH vs LRN — 直观对比
营收规模更大
ASTH
是对方的1.5倍
$629.9M
营收增速更快
ASTH
高出40.2%
2.7%
净利率更高
LRN
高出13.4%
0.7%
两年增速更快
ASTH
近两年复合增速
6.9%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $950.5M | $629.9M |
| 净利润 | $6.6M | $88.5M |
| 毛利率 | — | — |
| 营业利润率 | 1.9% | 20.5% |
| 净利率 | 0.7% | 14.1% |
| 营收同比 | 42.9% | 2.7% |
| 净利润同比 | 184.4% | 8.5% |
| 每股收益（稀释后） | $0.12 | $1.93 |
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ASTHLRN
| Q3 26 | — | $629.9M | ||
| Q4 25 | $950.5M | $631.3M | ||
| Q3 25 | $956.0M | $620.9M | ||
| Q2 25 | $654.8M | $653.6M | ||
| Q1 25 | $620.4M | $613.4M | ||
| Q4 24 | $665.2M | $587.2M | ||
| Q3 24 | $478.7M | $551.1M | ||
| Q2 24 | $486.3M | — |
净利润ASTHLRN
| Q3 26 | — | $88.5M | ||
| Q4 25 | $6.6M | $99.5M | ||
| Q3 25 | $373.0K | $68.8M | ||
| Q2 25 | $9.4M | $51.3M | ||
| Q1 25 | $6.7M | $99.3M | ||
| Q4 24 | $-7.8M | $96.4M | ||
| Q3 24 | $16.1M | $40.9M | ||
| Q2 24 | $19.2M | — |
毛利率ASTHLRN
| Q3 26 | — | — | ||
| Q4 25 | — | 41.1% | ||
| Q3 25 | — | 39.0% | ||
| Q2 25 | — | 36.6% | ||
| Q1 25 | — | 40.6% | ||
| Q4 24 | — | 40.8% | ||
| Q3 24 | — | 39.2% | ||
| Q2 24 | — | — |
营业利润率ASTHLRN
| Q3 26 | — | 20.5% | ||
| Q4 25 | 1.9% | 23.3% | ||
| Q3 25 | 2.0% | 11.1% | ||
| Q2 25 | 3.1% | 8.7% | ||
| Q1 25 | 3.3% | 21.3% | ||
| Q4 24 | 0.1% | 21.3% | ||
| Q3 24 | 5.9% | 8.6% | ||
| Q2 24 | 6.2% | — |
净利率ASTHLRN
| Q3 26 | — | 14.1% | ||
| Q4 25 | 0.7% | 15.8% | ||
| Q3 25 | 0.0% | 11.1% | ||
| Q2 25 | 1.4% | 7.9% | ||
| Q1 25 | 1.1% | 16.2% | ||
| Q4 24 | -1.2% | 16.4% | ||
| Q3 24 | 3.4% | 7.4% | ||
| Q2 24 | 3.9% | — |
每股收益（稀释后）ASTHLRN
| Q3 26 | — | $1.93 | ||
| Q4 25 | $0.12 | $2.12 | ||
| Q3 25 | $0.01 | $1.40 | ||
| Q2 25 | $0.19 | $0.96 | ||
| Q1 25 | $0.14 | $2.02 | ||
| Q4 24 | $-0.14 | $2.03 | ||
| Q3 24 | $0.33 | $0.94 | ||
| Q2 24 | $0.40 | — |
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 | $614.0M |
| 总债务越低越好 | — | $417.6M |
| 股东权益账面价值 | $779.3M | $1.6B |
| 总资产 | $2.2B | $2.4B |
| 负债/权益比越低杠杆越低 | — | 0.25× |
8季度趋势，按日历期对齐
现金及短期投资ASTHLRN
| Q3 26 | — | $614.0M | ||
| Q4 25 | $429.5M | $625.7M | ||
| Q3 25 | $463.4M | $715.1M | ||
| Q2 25 | $342.1M | $985.3M | ||
| Q1 25 | $260.9M | $723.7M | ||
| Q4 24 | $290.8M | $717.5M | ||
| Q3 24 | $350.3M | $522.2M | ||
| Q2 24 | $327.7M | — |
总债务ASTHLRN
| Q3 26 | — | $417.6M | ||
| Q4 25 | — | $417.2M | ||
| Q3 25 | — | $416.8M | ||
| Q2 25 | — | $416.3M | ||
| Q1 25 | — | $415.9M | ||
| Q4 24 | — | $415.5M | ||
| Q3 24 | — | $415.1M | ||
| Q2 24 | — | — |
股东权益ASTHLRN
| Q3 26 | — | $1.6B | ||
| Q4 25 | $779.3M | $1.5B | ||
| Q3 25 | $775.5M | $1.5B | ||
| Q2 25 | $765.5M | $1.5B | ||
| Q1 25 | $745.4M | $1.4B | ||
| Q4 24 | $712.7M | $1.3B | ||
| Q3 24 | $704.6M | $1.2B | ||
| Q2 24 | $678.9M | — |
总资产ASTHLRN
| Q3 26 | — | $2.4B | ||
| Q4 25 | $2.2B | $2.3B | ||
| Q3 25 | $2.2B | $2.3B | ||
| Q2 25 | $1.4B | $2.3B | ||
| Q1 25 | $1.3B | $2.2B | ||
| Q4 24 | $1.4B | $2.1B | ||
| Q3 24 | $1.3B | $2.0B | ||
| Q2 24 | $1.3B | — |
负债/权益比ASTHLRN
| Q3 26 | — | 0.25× | ||
| Q4 25 | — | 0.27× | ||
| Q3 25 | — | 0.27× | ||
| Q2 25 | — | 0.28× | ||
| Q1 25 | — | 0.29× | ||
| Q4 24 | — | 0.32× | ||
| Q3 24 | — | 0.34× | ||
| Q2 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 | $117.0M |
| 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× | 1.32× |
| 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ASTHLRN
| Q3 26 | — | $117.0M | ||
| Q4 25 | $-2.9M | $91.8M | ||
| Q3 25 | $10.0M | $-195.8M | ||
| Q2 25 | $90.9M | $298.3M | ||
| Q1 25 | $16.6M | $53.1M | ||
| Q4 24 | $-10.9M | $223.4M | ||
| Q3 24 | $34.0M | $-142.0M | ||
| Q2 24 | $23.2M | — |
自由现金流ASTHLRN
| Q3 26 | — | — | ||
| Q4 25 | $-6.0M | $91.6M | ||
| Q3 25 | $7.4M | $-196.1M | ||
| Q2 25 | $89.5M | $297.9M | ||
| Q1 25 | $13.6M | $52.9M | ||
| Q4 24 | $-13.5M | $222.9M | ||
| Q3 24 | $31.7M | $-142.7M | ||
| Q2 24 | $20.4M | — |
自由现金流率ASTHLRN
| Q3 26 | — | — | ||
| Q4 25 | -0.6% | 14.5% | ||
| Q3 25 | 0.8% | -31.6% | ||
| Q2 25 | 13.7% | 45.6% | ||
| Q1 25 | 2.2% | 8.6% | ||
| Q4 24 | -2.0% | 38.0% | ||
| Q3 24 | 6.6% | -25.9% | ||
| Q2 24 | 4.2% | — |
资本支出强度ASTHLRN
| Q3 26 | — | — | ||
| Q4 25 | 0.3% | 0.0% | ||
| Q3 25 | 0.3% | 0.0% | ||
| Q2 25 | 0.2% | 0.1% | ||
| Q1 25 | 0.5% | 0.0% | ||
| Q4 24 | 0.4% | 0.1% | ||
| Q3 24 | 0.5% | 0.1% | ||
| Q2 24 | 0.6% | — |
现金转化率ASTHLRN
| Q3 26 | — | 1.32× | ||
| Q4 25 | -0.44× | 0.92× | ||
| Q3 25 | 26.69× | -2.85× | ||
| Q2 25 | 9.65× | 5.81× | ||
| Q1 25 | 2.48× | 0.53× | ||
| Q4 24 | — | 2.32× | ||
| Q3 24 | 2.11× | -3.47× | ||
| Q2 24 | 1.21× | — |
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% |
LRN
| General Education | $357.5M | 57% |
| Middle - High School | $259.5M | 41% |
| Adult | $12.9M | 2% |
