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Astrana Health, Inc.（ASTH）与Cloudflare, Inc.（NET）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Cloudflare, Inc.的1.5倍（$950.5M vs $614.5M），Astrana Health, Inc.净利率更高（0.7% vs -2.0%，领先2.7%），Astrana Health, Inc.同比增速更快（42.9% vs 33.6%），Cloudflare, Inc.自由现金流更多（$105.2M vs $-6.0M），过去两年Astrana Health, Inc.的营收复合增速更高（53.3% vs 27.4%）
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。
Cloudflare是总部位于美国加利福尼亚州旧金山的科技企业，提供内容分发网络（CDN）、云网络安全、DDoS防护等多元互联网服务，同时是ICANN认证的域名注册商。其服务作为网站访客与客户托管服务商之间的反向代理，可有效提升访问性能，抵御恶意流量。
ASTH vs NET — 直观对比
营收规模更大
ASTH
是对方的1.5倍
$614.5M
营收增速更快
ASTH
高出9.3%
33.6%
净利率更高
ASTH
高出2.7%
-2.0%
自由现金流更多
NET
多$111.2M
$-6.0M
两年增速更快
ASTH
近两年复合增速
27.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $950.5M | $614.5M |
| 净利润 | $6.6M | $-12.1M |
| 毛利率 | — | 73.6% |
| 营业利润率 | 1.9% | -8.0% |
| 净利率 | 0.7% | -2.0% |
| 营收同比 | 42.9% | 33.6% |
| 净利润同比 | 184.4% | 6.0% |
| 每股收益（稀释后） | $0.12 | $-0.03 |
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ASTHNET
| Q4 25 | $950.5M | $614.5M | ||
| Q3 25 | $956.0M | $562.0M | ||
| Q2 25 | $654.8M | $512.3M | ||
| Q1 25 | $620.4M | $479.1M | ||
| Q4 24 | $665.2M | $459.9M | ||
| Q3 24 | $478.7M | $430.1M | ||
| Q2 24 | $486.3M | $401.0M | ||
| Q1 24 | $404.4M | $378.6M |
净利润ASTHNET
| Q4 25 | $6.6M | $-12.1M | ||
| Q3 25 | $373.0K | $-1.3M | ||
| Q2 25 | $9.4M | $-50.4M | ||
| Q1 25 | $6.7M | $-38.5M | ||
| Q4 24 | $-7.8M | $-12.8M | ||
| Q3 24 | $16.1M | $-15.3M | ||
| Q2 24 | $19.2M | $-15.1M | ||
| Q1 24 | $14.8M | $-35.5M |
毛利率ASTHNET
| Q4 25 | — | 73.6% | ||
| Q3 25 | — | 74.0% | ||
| Q2 25 | — | 74.9% | ||
| Q1 25 | — | 75.9% | ||
| Q4 24 | — | 76.4% | ||
| Q3 24 | — | 77.7% | ||
| Q2 24 | — | 77.8% | ||
| Q1 24 | — | 77.5% |
营业利润率ASTHNET
| Q4 25 | 1.9% | -8.0% | ||
| Q3 25 | 2.0% | -6.7% | ||
| Q2 25 | 3.1% | -13.1% | ||
| Q1 25 | 3.3% | -11.1% | ||
| Q4 24 | 0.1% | -7.5% | ||
| Q3 24 | 5.9% | -7.2% | ||
| Q2 24 | 6.2% | -8.7% | ||
| Q1 24 | 7.5% | -14.4% |
净利率ASTHNET
| Q4 25 | 0.7% | -2.0% | ||
| Q3 25 | 0.0% | -0.2% | ||
| Q2 25 | 1.4% | -9.8% | ||
| Q1 25 | 1.1% | -8.0% | ||
| Q4 24 | -1.2% | -2.8% | ||
| Q3 24 | 3.4% | -3.6% | ||
| Q2 24 | 3.9% | -3.8% | ||
| Q1 24 | 3.7% | -9.4% |
每股收益（稀释后）ASTHNET
| Q4 25 | $0.12 | $-0.03 | ||
| Q3 25 | $0.01 | $0.00 | ||
| Q2 25 | $0.19 | $-0.15 | ||
| Q1 25 | $0.14 | $-0.11 | ||
| Q4 24 | $-0.14 | $-0.05 | ||
| Q3 24 | $0.33 | $-0.04 | ||
| Q2 24 | $0.40 | $-0.04 | ||
| Q1 24 | $0.31 | $-0.10 |
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 | $943.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $779.3M | $1.5B |
| 总资产 | $2.2B | $6.0B |
| 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ASTHNET
| Q4 25 | $429.5M | $943.5M | ||
| Q3 25 | $463.4M | $1.1B | ||
| Q2 25 | $342.1M | $1.5B | ||
| Q1 25 | $260.9M | $204.5M | ||
| Q4 24 | $290.8M | $147.7M | ||
| Q3 24 | $350.3M | $182.9M | ||
| Q2 24 | $327.7M | $157.0M | ||
| Q1 24 | $337.3M | $254.4M |
股东权益ASTHNET
| Q4 25 | $779.3M | $1.5B | ||
| Q3 25 | $775.5M | $1.3B | ||
| Q2 25 | $765.5M | $1.2B | ||
| Q1 25 | $745.4M | $1.4B | ||
| Q4 24 | $712.7M | $1.0B | ||
| Q3 24 | $704.6M | $973.1M | ||
| Q2 24 | $678.9M | $881.5M | ||
| Q1 24 | $653.5M | $797.2M |
总资产ASTHNET
| Q4 25 | $2.2B | $6.0B | ||
| Q3 25 | $2.2B | $5.8B | ||
| Q2 25 | $1.4B | $5.6B | ||
| Q1 25 | $1.3B | $3.7B | ||
| Q4 24 | $1.4B | $3.3B | ||
| Q3 24 | $1.3B | $3.1B | ||
| Q2 24 | $1.3B | $2.9B | ||
| Q1 24 | $1.2B | $2.8B |
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 | $190.4M |
| 自由现金流经营现金流 - 资本支出 | $-6.0M | $105.2M |
| 自由现金流率自由现金流/营收 | -0.6% | 17.1% |
| 资本支出强度资本支出/营收 | 0.3% | 13.9% |
| 现金转化率经营现金流/净利润 | -0.44× | — |
| 过去12个月自由现金流最近4个季度 | $104.5M | $287.5M |
8季度趋势，按日历期对齐
经营现金流ASTHNET
| Q4 25 | $-2.9M | $190.4M | ||
| Q3 25 | $10.0M | $167.1M | ||
| Q2 25 | $90.9M | $99.8M | ||
| Q1 25 | $16.6M | $145.8M | ||
| Q4 24 | $-10.9M | $127.3M | ||
| Q3 24 | $34.0M | $104.7M | ||
| Q2 24 | $23.2M | $74.8M | ||
| Q1 24 | $6.0M | $73.6M |
自由现金流ASTHNET
| Q4 25 | $-6.0M | $105.2M | ||
| Q3 25 | $7.4M | $82.5M | ||
| Q2 25 | $89.5M | $39.9M | ||
| Q1 25 | $13.6M | $59.9M | ||
| Q4 24 | $-13.5M | $54.2M | ||
| Q3 24 | $31.7M | $54.5M | ||
| Q2 24 | $20.4M | $45.2M | ||
| Q1 24 | $5.6M | $41.5M |
自由现金流率ASTHNET
| Q4 25 | -0.6% | 17.1% | ||
| Q3 25 | 0.8% | 14.7% | ||
| Q2 25 | 13.7% | 7.8% | ||
| Q1 25 | 2.2% | 12.5% | ||
| Q4 24 | -2.0% | 11.8% | ||
| Q3 24 | 6.6% | 12.7% | ||
| Q2 24 | 4.2% | 11.3% | ||
| Q1 24 | 1.4% | 11.0% |
资本支出强度ASTHNET
| Q4 25 | 0.3% | 13.9% | ||
| Q3 25 | 0.3% | 15.1% | ||
| Q2 25 | 0.2% | 11.7% | ||
| Q1 25 | 0.5% | 17.9% | ||
| Q4 24 | 0.4% | 15.9% | ||
| Q3 24 | 0.5% | 11.7% | ||
| Q2 24 | 0.6% | 7.4% | ||
| Q1 24 | 0.1% | 8.5% |
现金转化率ASTHNET
| Q4 25 | -0.44× | — | ||
| Q3 25 | 26.69× | — | ||
| Q2 25 | 9.65× | — | ||
| Q1 25 | 2.48× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.11× | — | ||
| Q2 24 | 1.21× | — | ||
| Q1 24 | 0.40× | — |
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% |
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
