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Astrana Health, Inc.（ASTH）与帕森斯公司（PSN）财务数据对比。点击上方公司名可切换其他公司
帕森斯公司的季度营收约是Astrana Health, Inc.的1.7倍（$1.6B vs $950.5M），帕森斯公司净利率更高（3.5% vs 0.7%，领先2.8%），Astrana Health, Inc.同比增速更快（42.9% vs -7.5%），帕森斯公司自由现金流更多（$135.6M vs $-6.0M），过去两年Astrana Health, Inc.的营收复合增速更高（53.3% vs 2.2%）
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。
帕森斯公司是一家总部位于美国弗吉尼亚州尚蒂利的跨国企业，1944年成立，核心业务覆盖国防、情报、基础设施工程领域，深耕技术研发，在全球30多个国家为政府及私营部门客户提供专业解决方案。
ASTH vs PSN — 直观对比
营收规模更大
PSN
是对方的1.7倍
$950.5M
营收增速更快
ASTH
高出50.4%
-7.5%
净利率更高
PSN
高出2.8%
0.7%
自由现金流更多
PSN
多$141.5M
$-6.0M
两年增速更快
ASTH
近两年复合增速
2.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $950.5M | $1.6B |
| 净利润 | $6.6M | $55.6M |
| 毛利率 | — | 23.0% |
| 营业利润率 | 1.9% | 6.6% |
| 净利率 | 0.7% | 3.5% |
| 营收同比 | 42.9% | -7.5% |
| 净利润同比 | 184.4% | -72.4% |
| 每股收益（稀释后） | $0.12 | $0.51 |
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ASTHPSN
| Q4 25 | $950.5M | $1.6B | ||
| Q3 25 | $956.0M | $1.6B | ||
| Q2 25 | $654.8M | $1.6B | ||
| Q1 25 | $620.4M | $1.6B | ||
| Q4 24 | $665.2M | $1.7B | ||
| Q3 24 | $478.7M | $1.8B | ||
| Q2 24 | $486.3M | $1.7B | ||
| Q1 24 | $404.4M | $1.5B |
净利润ASTHPSN
| Q4 25 | $6.6M | $55.6M | ||
| Q3 25 | $373.0K | $64.1M | ||
| Q2 25 | $9.4M | $55.2M | ||
| Q1 25 | $6.7M | $66.2M | ||
| Q4 24 | $-7.8M | $201.3M | ||
| Q3 24 | $16.1M | $72.0M | ||
| Q2 24 | $19.2M | $69.2M | ||
| Q1 24 | $14.8M | $-107.4M |
毛利率ASTHPSN
| Q4 25 | — | 23.0% | ||
| Q3 25 | — | 22.2% | ||
| Q2 25 | — | 22.0% | ||
| Q1 25 | — | 22.8% | ||
| Q4 24 | — | 21.3% | ||
| Q3 24 | — | 19.9% | ||
| Q2 24 | — | 21.0% | ||
| Q1 24 | — | 21.2% |
营业利润率ASTHPSN
| Q4 25 | 1.9% | 6.6% | ||
| Q3 25 | 2.0% | 6.7% | ||
| Q2 25 | 3.1% | 6.0% | ||
| Q1 25 | 3.3% | 7.0% | ||
| Q4 24 | 0.1% | 5.8% | ||
| Q3 24 | 5.9% | 6.4% | ||
| Q2 24 | 6.2% | 6.7% | ||
| Q1 24 | 7.5% | 6.6% |
净利率ASTHPSN
| Q4 25 | 0.7% | 3.5% | ||
| Q3 25 | 0.0% | 4.0% | ||
| Q2 25 | 1.4% | 3.5% | ||
| Q1 25 | 1.1% | 4.3% | ||
| Q4 24 | -1.2% | 11.6% | ||
| Q3 24 | 3.4% | 4.0% | ||
| Q2 24 | 3.9% | 4.1% | ||
| Q1 24 | 3.7% | -7.0% |
每股收益（稀释后）ASTHPSN
| Q4 25 | $0.12 | $0.51 | ||
| Q3 25 | $0.01 | $0.59 | ||
| Q2 25 | $0.19 | $0.50 | ||
| Q1 25 | $0.14 | $0.60 | ||
| Q4 24 | $-0.14 | $1.85 | ||
| Q3 24 | $0.33 | $0.65 | ||
| Q2 24 | $0.40 | $0.63 | ||
| Q1 24 | $0.31 | $-1.01 |
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 | $466.4M |
| 总债务越低越好 | — | $1.2B |
| 股东权益账面价值 | $779.3M | $2.6B |
| 总资产 | $2.2B | $5.8B |
| 负债/权益比越低杠杆越低 | — | 0.47× |
8季度趋势，按日历期对齐
现金及短期投资ASTHPSN
| Q4 25 | $429.5M | $466.4M | ||
| Q3 25 | $463.4M | $422.6M | ||
| Q2 25 | $342.1M | $411.3M | ||
| Q1 25 | $260.9M | $269.7M | ||
| Q4 24 | $290.8M | $453.5M | ||
| Q3 24 | $350.3M | $558.8M | ||
| Q2 24 | $327.7M | $528.5M | ||
| Q1 24 | $337.3M | $423.1M |
总债务ASTHPSN
| Q4 25 | — | $1.2B | ||
| Q3 25 | — | $1.2B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $785.2M | ||
| Q4 24 | — | $784.1M | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $1.2B | ||
| Q1 24 | — | $1.2B |
股东权益ASTHPSN
| Q4 25 | $779.3M | $2.6B | ||
| Q3 25 | $775.5M | $2.6B | ||
| Q2 25 | $765.5M | $2.5B | ||
| Q1 25 | $745.4M | $2.5B | ||
| Q4 24 | $712.7M | $2.4B | ||
| Q3 24 | $704.6M | $2.3B | ||
| Q2 24 | $678.9M | $2.2B | ||
| Q1 24 | $653.5M | $2.1B |
总资产ASTHPSN
| Q4 25 | $2.2B | $5.8B | ||
| Q3 25 | $2.2B | $5.7B | ||
| Q2 25 | $1.4B | $5.7B | ||
| Q1 25 | $1.3B | $5.4B | ||
| Q4 24 | $1.4B | $5.5B | ||
| Q3 24 | $1.3B | $5.4B | ||
| Q2 24 | $1.3B | $5.2B | ||
| Q1 24 | $1.2B | $5.1B |
负债/权益比ASTHPSN
| Q4 25 | — | 0.47× | ||
| Q3 25 | — | 0.48× | ||
| Q2 25 | — | 0.49× | ||
| Q1 25 | — | 0.32× | ||
| Q4 24 | — | 0.32× | ||
| Q3 24 | — | 0.49× | ||
| Q2 24 | — | 0.56× | ||
| Q1 24 | — | 0.58× |
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 | $167.5M |
| 自由现金流经营现金流 - 资本支出 | $-6.0M | $135.6M |
| 自由现金流率自由现金流/营收 | -0.6% | 8.5% |
| 资本支出强度资本支出/营收 | 0.3% | 2.0% |
| 现金转化率经营现金流/净利润 | -0.44× | 3.01× |
| 过去12个月自由现金流最近4个季度 | $104.5M | $410.4M |
8季度趋势，按日历期对齐
经营现金流ASTHPSN
| Q4 25 | $-2.9M | $167.5M | ||
| Q3 25 | $10.0M | $162.8M | ||
| Q2 25 | $90.9M | $159.8M | ||
| Q1 25 | $16.6M | $-11.8M | ||
| Q4 24 | $-10.9M | $126.8M | ||
| Q3 24 | $34.0M | $299.0M | ||
| Q2 24 | $23.2M | $161.2M | ||
| Q1 24 | $6.0M | $-63.4M |
自由现金流ASTHPSN
| Q4 25 | $-6.0M | $135.6M | ||
| Q3 25 | $7.4M | $149.7M | ||
| Q2 25 | $89.5M | $150.4M | ||
| Q1 25 | $13.6M | $-25.3M | ||
| Q4 24 | $-13.5M | $108.0M | ||
| Q3 24 | $31.7M | $287.3M | ||
| Q2 24 | $20.4M | $152.0M | ||
| Q1 24 | $5.6M | $-72.9M |
自由现金流率ASTHPSN
| Q4 25 | -0.6% | 8.5% | ||
| Q3 25 | 0.8% | 9.2% | ||
| Q2 25 | 13.7% | 9.5% | ||
| Q1 25 | 2.2% | -1.6% | ||
| Q4 24 | -2.0% | 6.2% | ||
| Q3 24 | 6.6% | 15.9% | ||
| Q2 24 | 4.2% | 9.1% | ||
| Q1 24 | 1.4% | -4.7% |
资本支出强度ASTHPSN
| Q4 25 | 0.3% | 2.0% | ||
| Q3 25 | 0.3% | 0.8% | ||
| Q2 25 | 0.2% | 0.6% | ||
| Q1 25 | 0.5% | 0.9% | ||
| Q4 24 | 0.4% | 1.1% | ||
| Q3 24 | 0.5% | 0.6% | ||
| Q2 24 | 0.6% | 0.6% | ||
| Q1 24 | 0.1% | 0.6% |
现金转化率ASTHPSN
| Q4 25 | -0.44× | 3.01× | ||
| Q3 25 | 26.69× | 2.54× | ||
| Q2 25 | 9.65× | 2.89× | ||
| Q1 25 | 2.48× | -0.18× | ||
| Q4 24 | — | 0.63× | ||
| Q3 24 | 2.11× | 4.16× | ||
| Q2 24 | 1.21× | 2.33× | ||
| 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% |
PSN
| Unconsolidated Joint Ventures | $582.1M | 36% |
| Defense And Intelligence | $502.8M | 31% |
| Engineered Systems | $281.4M | 18% |
| Consolidated Joint Ventures | $216.7M | 14% |
| TRS Group Inc | $9.4M | 1% |
