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Astrana Health, Inc.（ASTH）与Life Time Group Holdings, Inc.（LTH）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Life Time Group Holdings, Inc.的1.2倍（$950.5M vs $788.7M），Life Time Group Holdings, Inc.净利率更高（11.2% vs 0.7%，领先10.5%），Astrana Health, Inc.同比增速更快（42.9% vs 11.7%），Astrana Health, Inc.自由现金流更多（$-6.0M vs $-61.2M），过去两年Astrana Health, Inc.的营收复合增速更高（53.3% vs 8.7%）
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。
Life Time Group Holdings是美国高端健身康养服务运营商，在全美运营连锁高端运动场馆，提供健身器材使用、团体课程、私教指导、SPA护理、营养咨询、青少年运动项目及联合办公等服务，服务于追求健康生活方式的消费群体。
ASTH vs LTH — 直观对比
营收规模更大
ASTH
是对方的1.2倍
$788.7M
营收增速更快
ASTH
高出31.2%
11.7%
净利率更高
LTH
高出10.5%
0.7%
自由现金流更多
ASTH
多$55.3M
$-61.2M
两年增速更快
ASTH
近两年复合增速
8.7%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $950.5M | $788.7M |
| 净利润 | $6.6M | $88.1M |
| 毛利率 | — | — |
| 营业利润率 | 1.9% | 17.1% |
| 净利率 | 0.7% | 11.2% |
| 营收同比 | 42.9% | 11.7% |
| 净利润同比 | 184.4% | 15.8% |
| 每股收益（稀释后） | $0.12 | $0.39 |
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ASTHLTH
| Q1 26 | — | $788.7M | ||
| Q4 25 | $950.5M | $745.1M | ||
| Q3 25 | $956.0M | $782.6M | ||
| Q2 25 | $654.8M | $761.5M | ||
| Q1 25 | $620.4M | $706.0M | ||
| Q4 24 | $665.2M | $663.3M | ||
| Q3 24 | $478.7M | $693.2M | ||
| Q2 24 | $486.3M | $667.8M |
净利润ASTHLTH
| Q1 26 | — | $88.1M | ||
| Q4 25 | $6.6M | $123.0M | ||
| Q3 25 | $373.0K | $102.4M | ||
| Q2 25 | $9.4M | $72.1M | ||
| Q1 25 | $6.7M | $76.1M | ||
| Q4 24 | $-7.8M | $37.2M | ||
| Q3 24 | $16.1M | $41.4M | ||
| Q2 24 | $19.2M | $52.8M |
毛利率ASTHLTH
| Q1 26 | — | — | ||
| Q4 25 | — | 49.1% | ||
| Q3 25 | — | 47.1% | ||
| Q2 25 | — | 47.0% | ||
| Q1 25 | — | 47.5% | ||
| Q4 24 | — | 48.2% | ||
| Q3 24 | — | 46.5% | ||
| Q2 24 | — | 46.8% |
营业利润率ASTHLTH
| Q1 26 | — | 17.1% | ||
| Q4 25 | 1.9% | 17.4% | ||
| Q3 25 | 2.0% | 17.3% | ||
| Q2 25 | 3.1% | 14.2% | ||
| Q1 25 | 3.3% | 15.2% | ||
| Q4 24 | 0.1% | 13.1% | ||
| Q3 24 | 5.9% | 13.5% | ||
| Q2 24 | 6.2% | 15.7% |
净利率ASTHLTH
| Q1 26 | — | 11.2% | ||
| Q4 25 | 0.7% | 16.5% | ||
| Q3 25 | 0.0% | 13.1% | ||
| Q2 25 | 1.4% | 9.5% | ||
| Q1 25 | 1.1% | 10.8% | ||
| Q4 24 | -1.2% | 5.6% | ||
| Q3 24 | 3.4% | 6.0% | ||
| Q2 24 | 3.9% | 7.9% |
每股收益（稀释后）ASTHLTH
| Q1 26 | — | $0.39 | ||
| Q4 25 | $0.12 | $0.55 | ||
| Q3 25 | $0.01 | $0.45 | ||
| Q2 25 | $0.19 | $0.32 | ||
| Q1 25 | $0.14 | $0.34 | ||
| Q4 24 | $-0.14 | $0.17 | ||
| Q3 24 | $0.33 | $0.19 | ||
| Q2 24 | $0.40 | $0.26 |
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 | $120.0M |
| 总债务越低越好 | — | $1.5B |
| 股东权益账面价值 | $779.3M | $3.2B |
| 总资产 | $2.2B | $8.1B |
| 负债/权益比越低杠杆越低 | — | 0.46× |
8季度趋势，按日历期对齐
现金及短期投资ASTHLTH
| Q1 26 | — | $120.0M | ||
| Q4 25 | $429.5M | $204.8M | ||
| Q3 25 | $463.4M | $218.9M | ||
| Q2 25 | $342.1M | $175.5M | ||
| Q1 25 | $260.9M | $59.0M | ||
| Q4 24 | $290.8M | $10.9M | ||
| Q3 24 | $350.3M | $120.9M | ||
| Q2 24 | $327.7M | $34.5M |
总债务ASTHLTH
| Q1 26 | — | $1.5B | ||
| Q4 25 | — | $1.5B | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | — | $1.5B | ||
| Q1 25 | — | $1.5B | ||
| Q4 24 | — | $1.5B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | — | $1.8B |
股东权益ASTHLTH
| Q1 26 | — | $3.2B | ||
| Q4 25 | $779.3M | $3.1B | ||
| Q3 25 | $775.5M | $3.0B | ||
| Q2 25 | $765.5M | $2.9B | ||
| Q1 25 | $745.4M | $2.7B | ||
| Q4 24 | $712.7M | $2.6B | ||
| Q3 24 | $704.6M | $2.6B | ||
| Q2 24 | $678.9M | $2.4B |
总资产ASTHLTH
| Q1 26 | — | $8.1B | ||
| Q4 25 | $2.2B | $8.0B | ||
| Q3 25 | $2.2B | $7.8B | ||
| Q2 25 | $1.4B | $7.6B | ||
| Q1 25 | $1.3B | $7.3B | ||
| Q4 24 | $1.4B | $7.2B | ||
| Q3 24 | $1.3B | $7.2B | ||
| Q2 24 | $1.3B | $7.1B |
负债/权益比ASTHLTH
| Q1 26 | — | 0.46× | ||
| Q4 25 | — | 0.48× | ||
| Q3 25 | — | 0.51× | ||
| Q2 25 | — | 0.53× | ||
| Q1 25 | — | 0.56× | ||
| Q4 24 | — | 0.59× | ||
| Q3 24 | — | 0.64× | ||
| Q2 24 | — | 0.78× |
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 | $198.8M |
| 自由现金流经营现金流 - 资本支出 | $-6.0M | $-61.2M |
| 自由现金流率自由现金流/营收 | -0.6% | -7.8% |
| 资本支出强度资本支出/营收 | 0.3% | 26.0% |
| 现金转化率经营现金流/净利润 | -0.44× | 2.26× |
| 过去12个月自由现金流最近4个季度 | $104.5M | $-123.6M |
8季度趋势，按日历期对齐
经营现金流ASTHLTH
| Q1 26 | — | $198.8M | ||
| Q4 25 | $-2.9M | $239.9M | ||
| Q3 25 | $10.0M | $251.1M | ||
| Q2 25 | $90.9M | $195.7M | ||
| Q1 25 | $16.6M | $183.9M | ||
| Q4 24 | $-10.9M | $163.1M | ||
| Q3 24 | $34.0M | $151.1M | ||
| Q2 24 | $23.2M | $170.4M |
自由现金流ASTHLTH
| Q1 26 | — | $-61.2M | ||
| Q4 25 | $-6.0M | $-64.6M | ||
| Q3 25 | $7.4M | $28.6M | ||
| Q2 25 | $89.5M | $-26.3M | ||
| Q1 25 | $13.6M | $41.4M | ||
| Q4 24 | $-13.5M | $26.8M | ||
| Q3 24 | $31.7M | $64.0M | ||
| Q2 24 | $20.4M | $26.1M |
自由现金流率ASTHLTH
| Q1 26 | — | -7.8% | ||
| Q4 25 | -0.6% | -8.7% | ||
| Q3 25 | 0.8% | 3.7% | ||
| Q2 25 | 13.7% | -3.5% | ||
| Q1 25 | 2.2% | 5.9% | ||
| Q4 24 | -2.0% | 4.0% | ||
| Q3 24 | 6.6% | 9.2% | ||
| Q2 24 | 4.2% | 3.9% |
资本支出强度ASTHLTH
| Q1 26 | — | 26.0% | ||
| Q4 25 | 0.3% | 40.9% | ||
| Q3 25 | 0.3% | 28.4% | ||
| Q2 25 | 0.2% | 29.2% | ||
| Q1 25 | 0.5% | 20.2% | ||
| Q4 24 | 0.4% | 20.6% | ||
| Q3 24 | 0.5% | 12.6% | ||
| Q2 24 | 0.6% | 21.6% |
现金转化率ASTHLTH
| Q1 26 | — | 2.26× | ||
| Q4 25 | -0.44× | 1.95× | ||
| Q3 25 | 26.69× | 2.45× | ||
| Q2 25 | 9.65× | 2.71× | ||
| Q1 25 | 2.48× | 2.41× | ||
| Q4 24 | — | 4.39× | ||
| Q3 24 | 2.11× | 3.65× | ||
| Q2 24 | 1.21× | 3.23× |
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% |
LTH
| Center revenue | $767.6M | 97% |
| Other revenue | $21.1M | 3% |
