vs
Astrana Health, Inc.（ASTH）与MSA Safety Inc（MSA）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MSA Safety Inc的1.9倍（$950.5M vs $510.9M），MSA Safety Inc净利率更高（17.0% vs 0.7%，领先16.3%），Astrana Health, Inc.同比增速更快（42.9% vs 2.2%），MSA Safety Inc自由现金流更多（$106.0M vs $-6.0M），过去两年Astrana Health, Inc.的营收复合增速更高（53.3% vs 11.2%）
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。
MSA安全是美国专业安全设备生产供应商，面向建筑、军事、消防、化工、油气等存在高危作业场景的多个行业提供安全防护产品及解决方案，总部位于美国匹兹堡近郊的克兰伯里。
ASTH vs MSA — 直观对比
营收规模更大
ASTH
是对方的1.9倍
$510.9M
营收增速更快
ASTH
高出40.6%
2.2%
净利率更高
MSA
高出16.3%
0.7%
自由现金流更多
MSA
多$112.0M
$-6.0M
两年增速更快
ASTH
近两年复合增速
11.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $950.5M | $510.9M |
| 净利润 | $6.6M | $86.9M |
| 毛利率 | — | 46.9% |
| 营业利润率 | 1.9% | 22.3% |
| 净利率 | 0.7% | 17.0% |
| 营收同比 | 42.9% | 2.2% |
| 净利润同比 | 184.4% | -1.2% |
| 每股收益（稀释后） | $0.12 | $2.22 |
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ASTHMSA
| Q4 25 | $950.5M | $510.9M | ||
| Q3 25 | $956.0M | $468.4M | ||
| Q2 25 | $654.8M | $474.1M | ||
| Q1 25 | $620.4M | $421.3M | ||
| Q4 24 | $665.2M | $499.7M | ||
| Q3 24 | $478.7M | $432.7M | ||
| Q2 24 | $486.3M | $462.5M | ||
| Q1 24 | $404.4M | $413.3M |
净利润ASTHMSA
| Q4 25 | $6.6M | $86.9M | ||
| Q3 25 | $373.0K | $69.6M | ||
| Q2 25 | $9.4M | $62.8M | ||
| Q1 25 | $6.7M | $59.6M | ||
| Q4 24 | $-7.8M | $87.9M | ||
| Q3 24 | $16.1M | $66.6M | ||
| Q2 24 | $19.2M | $72.2M | ||
| Q1 24 | $14.8M | $58.1M |
毛利率ASTHMSA
| Q4 25 | — | 46.9% | ||
| Q3 25 | — | 46.5% | ||
| Q2 25 | — | 46.6% | ||
| Q1 25 | — | 45.9% | ||
| Q4 24 | — | 46.9% | ||
| Q3 24 | — | 47.9% | ||
| Q2 24 | — | 48.2% | ||
| Q1 24 | — | 47.3% |
营业利润率ASTHMSA
| Q4 25 | 1.9% | 22.3% | ||
| Q3 25 | 2.0% | 20.1% | ||
| Q2 25 | 3.1% | 18.1% | ||
| Q1 25 | 3.3% | 18.5% | ||
| Q4 24 | 0.1% | 23.5% | ||
| Q3 24 | 5.9% | 21.1% | ||
| Q2 24 | 6.2% | 21.6% | ||
| Q1 24 | 7.5% | 19.4% |
净利率ASTHMSA
| Q4 25 | 0.7% | 17.0% | ||
| Q3 25 | 0.0% | 14.9% | ||
| Q2 25 | 1.4% | 13.2% | ||
| Q1 25 | 1.1% | 14.1% | ||
| Q4 24 | -1.2% | 17.6% | ||
| Q3 24 | 3.4% | 15.4% | ||
| Q2 24 | 3.9% | 15.6% | ||
| Q1 24 | 3.7% | 14.1% |
每股收益（稀释后）ASTHMSA
| Q4 25 | $0.12 | $2.22 | ||
| Q3 25 | $0.01 | $1.77 | ||
| Q2 25 | $0.19 | $1.59 | ||
| Q1 25 | $0.14 | $1.51 | ||
| Q4 24 | $-0.14 | $2.22 | ||
| Q3 24 | $0.33 | $1.69 | ||
| Q2 24 | $0.40 | $1.83 | ||
| Q1 24 | $0.31 | $1.47 |
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 | $165.1M |
| 总债务越低越好 | — | $580.9M |
| 股东权益账面价值 | $779.3M | $1.4B |
| 总资产 | $2.2B | $2.6B |
| 负债/权益比越低杠杆越低 | — | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资ASTHMSA
| Q4 25 | $429.5M | $165.1M | ||
| Q3 25 | $463.4M | $170.0M | ||
| Q2 25 | $342.1M | $147.0M | ||
| Q1 25 | $260.9M | $170.6M | ||
| Q4 24 | $290.8M | $164.6M | ||
| Q3 24 | $350.3M | $154.4M | ||
| Q2 24 | $327.7M | $146.8M | ||
| Q1 24 | $337.3M | $148.3M |
总债务ASTHMSA
| Q4 25 | — | $580.9M | ||
| Q3 25 | — | $628.6M | ||
| Q2 25 | — | $679.3M | ||
| Q1 25 | — | $502.1M | ||
| Q4 24 | — | $508.0M | ||
| Q3 24 | — | $554.7M | ||
| Q2 24 | — | $588.2M | ||
| Q1 24 | — | $596.2M |
股东权益ASTHMSA
| Q4 25 | $779.3M | $1.4B | ||
| Q3 25 | $775.5M | $1.3B | ||
| Q2 25 | $765.5M | $1.3B | ||
| Q1 25 | $745.4M | $1.2B | ||
| Q4 24 | $712.7M | $1.1B | ||
| Q3 24 | $704.6M | $1.1B | ||
| Q2 24 | $678.9M | $1.0B | ||
| Q1 24 | $653.5M | $994.8M |
总资产ASTHMSA
| Q4 25 | $2.2B | $2.6B | ||
| Q3 25 | $2.2B | $2.6B | ||
| Q2 25 | $1.4B | $2.6B | ||
| Q1 25 | $1.3B | $2.2B | ||
| Q4 24 | $1.4B | $2.2B | ||
| Q3 24 | $1.3B | $2.2B | ||
| Q2 24 | $1.3B | $2.2B | ||
| Q1 24 | $1.2B | $2.2B |
负债/权益比ASTHMSA
| Q4 25 | — | 0.42× | ||
| Q3 25 | — | 0.48× | ||
| Q2 25 | — | 0.54× | ||
| Q1 25 | — | 0.42× | ||
| Q4 24 | — | 0.44× | ||
| Q3 24 | — | 0.51× | ||
| Q2 24 | — | 0.57× | ||
| Q1 24 | — | 0.60× |
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 | $122.4M |
| 自由现金流经营现金流 - 资本支出 | $-6.0M | $106.0M |
| 自由现金流率自由现金流/营收 | -0.6% | 20.8% |
| 资本支出强度资本支出/营收 | 0.3% | 3.2% |
| 现金转化率经营现金流/净利润 | -0.44× | 1.41× |
| 过去12个月自由现金流最近4个季度 | $104.5M | $295.4M |
8季度趋势，按日历期对齐
经营现金流ASTHMSA
| Q4 25 | $-2.9M | $122.4M | ||
| Q3 25 | $10.0M | $112.5M | ||
| Q2 25 | $90.9M | $67.2M | ||
| Q1 25 | $16.6M | $61.8M | ||
| Q4 24 | $-10.9M | $107.9M | ||
| Q3 24 | $34.0M | $84.3M | ||
| Q2 24 | $23.2M | $53.3M | ||
| Q1 24 | $6.0M | $50.9M |
自由现金流ASTHMSA
| Q4 25 | $-6.0M | $106.0M | ||
| Q3 25 | $7.4M | $100.5M | ||
| Q2 25 | $89.5M | $37.9M | ||
| Q1 25 | $13.6M | $51.0M | ||
| Q4 24 | $-13.5M | $93.5M | ||
| Q3 24 | $31.7M | $70.1M | ||
| Q2 24 | $20.4M | $39.0M | ||
| Q1 24 | $5.6M | $39.7M |
自由现金流率ASTHMSA
| Q4 25 | -0.6% | 20.8% | ||
| Q3 25 | 0.8% | 21.4% | ||
| Q2 25 | 13.7% | 8.0% | ||
| Q1 25 | 2.2% | 12.1% | ||
| Q4 24 | -2.0% | 18.7% | ||
| Q3 24 | 6.6% | 16.2% | ||
| Q2 24 | 4.2% | 8.4% | ||
| Q1 24 | 1.4% | 9.6% |
资本支出强度ASTHMSA
| Q4 25 | 0.3% | 3.2% | ||
| Q3 25 | 0.3% | 2.6% | ||
| Q2 25 | 0.2% | 6.2% | ||
| Q1 25 | 0.5% | 2.6% | ||
| Q4 24 | 0.4% | 2.9% | ||
| Q3 24 | 0.5% | 3.3% | ||
| Q2 24 | 0.6% | 3.1% | ||
| Q1 24 | 0.1% | 2.7% |
现金转化率ASTHMSA
| Q4 25 | -0.44× | 1.41× | ||
| Q3 25 | 26.69× | 1.62× | ||
| Q2 25 | 9.65× | 1.07× | ||
| Q1 25 | 2.48× | 1.04× | ||
| Q4 24 | — | 1.23× | ||
| Q3 24 | 2.11× | 1.27× | ||
| Q2 24 | 1.21× | 0.74× | ||
| Q1 24 | 0.40× | 0.88× |
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% |
MSA
| Americas Segment | $335.2M | 66% |
| International Segment | $175.7M | 34% |
