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Astrana Health, Inc.（ASTH）与PTC Inc.（PTC）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PTC Inc.的1.2倍（$950.5M vs $774.3M），PTC Inc.净利率更高（76.3% vs 0.7%，领先75.6%），Astrana Health, Inc.同比增速更快（42.9% vs 21.7%），PTC Inc.自由现金流更多（$318.0M vs $-6.0M），过去两年Astrana Health, Inc.的营收复合增速更高（53.3% vs 22.2%）
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。
PTC是1985年成立的美国计算机软件与服务企业，总部位于马萨诸塞州波士顿。公司1988年率先推出参数化关联特征驱动的三维CAD建模软件，1998年发布基于互联网的产品生命周期管理（PLM）产品，目前面向合作伙伴与开发者提供物联网、增强现实（AR）平台及相关产品服务。
ASTH vs PTC — 直观对比
营收规模更大
ASTH
是对方的1.2倍
$774.3M
营收增速更快
ASTH
高出21.2%
21.7%
净利率更高
PTC
高出75.6%
0.7%
自由现金流更多
PTC
多$323.9M
$-6.0M
两年增速更快
ASTH
近两年复合增速
22.2%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $950.5M | $774.3M |
| 净利润 | $6.6M | $590.7M |
| 毛利率 | — | 99.1% |
| 营业利润率 | 1.9% | 38.2% |
| 净利率 | 0.7% | 76.3% |
| 营收同比 | 42.9% | 21.7% |
| 净利润同比 | 184.4% | 141.2% |
| 每股收益（稀释后） | $0.12 | $4.98 |
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ASTHPTC
| Q1 26 | — | $774.3M | ||
| Q4 25 | $950.5M | $685.8M | ||
| Q3 25 | $956.0M | $893.8M | ||
| Q2 25 | $654.8M | $643.9M | ||
| Q1 25 | $620.4M | $636.4M | ||
| Q4 24 | $665.2M | $565.1M | ||
| Q3 24 | $478.7M | $626.5M | ||
| Q2 24 | $486.3M | $518.6M |
净利润ASTHPTC
| Q1 26 | — | $590.7M | ||
| Q4 25 | $6.6M | $166.5M | ||
| Q3 25 | $373.0K | $347.8M | ||
| Q2 25 | $9.4M | $141.3M | ||
| Q1 25 | $6.7M | $162.6M | ||
| Q4 24 | $-7.8M | $82.2M | ||
| Q3 24 | $16.1M | $126.5M | ||
| Q2 24 | $19.2M | $69.0M |
毛利率ASTHPTC
| Q1 26 | — | 99.1% | ||
| Q4 25 | — | 82.8% | ||
| Q3 25 | — | 86.9% | ||
| Q2 25 | — | 82.9% | ||
| Q1 25 | — | 83.3% | ||
| Q4 24 | — | 80.2% | ||
| Q3 24 | — | 82.0% | ||
| Q2 24 | — | 78.4% |
营业利润率ASTHPTC
| Q1 26 | — | 38.2% | ||
| Q4 25 | 1.9% | 32.2% | ||
| Q3 25 | 2.0% | 48.5% | ||
| Q2 25 | 3.1% | 32.6% | ||
| Q1 25 | 3.3% | 35.1% | ||
| Q4 24 | 0.1% | 20.4% | ||
| Q3 24 | 5.9% | 31.0% | ||
| Q2 24 | 6.2% | 18.5% |
净利率ASTHPTC
| Q1 26 | — | 76.3% | ||
| Q4 25 | 0.7% | 24.3% | ||
| Q3 25 | 0.0% | 38.9% | ||
| Q2 25 | 1.4% | 21.9% | ||
| Q1 25 | 1.1% | 25.6% | ||
| Q4 24 | -1.2% | 14.6% | ||
| Q3 24 | 3.4% | 20.2% | ||
| Q2 24 | 3.9% | 13.3% |
每股收益（稀释后）ASTHPTC
| Q1 26 | — | $4.98 | ||
| Q4 25 | $0.12 | $1.39 | ||
| Q3 25 | $0.01 | $2.88 | ||
| Q2 25 | $0.19 | $1.17 | ||
| Q1 25 | $0.14 | $1.35 | ||
| Q4 24 | $-0.14 | $0.68 | ||
| Q3 24 | $0.33 | $1.05 | ||
| Q2 24 | $0.40 | $0.57 |
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 | $439.1M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $779.3M | $3.9B |
| 总资产 | $2.2B | $6.5B |
| 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ASTHPTC
| Q1 26 | — | $439.1M | ||
| Q4 25 | $429.5M | $209.7M | ||
| Q3 25 | $463.4M | $184.4M | ||
| Q2 25 | $342.1M | $199.3M | ||
| Q1 25 | $260.9M | $235.2M | ||
| Q4 24 | $290.8M | $196.3M | ||
| Q3 24 | $350.3M | $265.8M | ||
| Q2 24 | $327.7M | $247.7M |
总债务ASTHPTC
| Q1 26 | — | — | ||
| Q4 25 | — | $1.2B | ||
| Q3 25 | — | $1.2B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | — | $1.0B | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | $1.3B |
股东权益ASTHPTC
| Q1 26 | — | $3.9B | ||
| Q4 25 | $779.3M | $3.8B | ||
| Q3 25 | $775.5M | $3.8B | ||
| Q2 25 | $765.5M | $3.5B | ||
| Q1 25 | $745.4M | $3.4B | ||
| Q4 24 | $712.7M | $3.2B | ||
| Q3 24 | $704.6M | $3.2B | ||
| Q2 24 | $678.9M | $3.0B |
总资产ASTHPTC
| Q1 26 | — | $6.5B | ||
| Q4 25 | $2.2B | $6.4B | ||
| Q3 25 | $2.2B | $6.6B | ||
| Q2 25 | $1.4B | $6.2B | ||
| Q1 25 | $1.3B | $6.2B | ||
| Q4 24 | $1.4B | $6.1B | ||
| Q3 24 | $1.3B | $6.4B | ||
| Q2 24 | $1.3B | $6.1B |
负债/权益比ASTHPTC
| Q1 26 | — | — | ||
| Q4 25 | — | 0.31× | ||
| Q3 25 | — | 0.31× | ||
| Q2 25 | — | 0.34× | ||
| Q1 25 | — | 0.40× | ||
| Q4 24 | — | 0.32× | ||
| Q3 24 | — | 0.38× | ||
| Q2 24 | — | 0.43× |
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 | $320.9M |
| 自由现金流经营现金流 - 资本支出 | $-6.0M | $318.0M |
| 自由现金流率自由现金流/营收 | -0.6% | 41.1% |
| 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× | 0.54× |
| 过去12个月自由现金流最近4个季度 | $104.5M | $927.9M |
8季度趋势，按日历期对齐
经营现金流ASTHPTC
| Q1 26 | — | $320.9M | ||
| Q4 25 | $-2.9M | $269.7M | ||
| Q3 25 | $10.0M | $104.0M | ||
| Q2 25 | $90.9M | $243.9M | ||
| Q1 25 | $16.6M | $281.3M | ||
| Q4 24 | $-10.9M | $238.4M | ||
| Q3 24 | $34.0M | $98.1M | ||
| Q2 24 | $23.2M | $213.8M |
自由现金流ASTHPTC
| Q1 26 | — | $318.0M | ||
| Q4 25 | $-6.0M | $267.4M | ||
| Q3 25 | $7.4M | $100.5M | ||
| Q2 25 | $89.5M | $242.0M | ||
| Q1 25 | $13.6M | $278.5M | ||
| Q4 24 | $-13.5M | $235.7M | ||
| Q3 24 | $31.7M | $93.6M | ||
| Q2 24 | $20.4M | $212.2M |
自由现金流率ASTHPTC
| Q1 26 | — | 41.1% | ||
| Q4 25 | -0.6% | 39.0% | ||
| Q3 25 | 0.8% | 11.2% | ||
| Q2 25 | 13.7% | 37.6% | ||
| Q1 25 | 2.2% | 43.8% | ||
| Q4 24 | -2.0% | 41.7% | ||
| Q3 24 | 6.6% | 14.9% | ||
| Q2 24 | 4.2% | 40.9% |
资本支出强度ASTHPTC
| Q1 26 | — | — | ||
| Q4 25 | 0.3% | 0.3% | ||
| Q3 25 | 0.3% | 0.4% | ||
| Q2 25 | 0.2% | 0.3% | ||
| Q1 25 | 0.5% | 0.4% | ||
| Q4 24 | 0.4% | 0.5% | ||
| Q3 24 | 0.5% | 0.7% | ||
| Q2 24 | 0.6% | 0.3% |
现金转化率ASTHPTC
| Q1 26 | — | 0.54× | ||
| Q4 25 | -0.44× | 1.62× | ||
| Q3 25 | 26.69× | 0.30× | ||
| Q2 25 | 9.65× | 1.73× | ||
| Q1 25 | 2.48× | 1.73× | ||
| Q4 24 | — | 2.90× | ||
| Q3 24 | 2.11× | 0.78× | ||
| Q2 24 | 1.21× | 3.10× |
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% |
PTC
| Recurring revenue | $743.4M | 96% |
| Other | $24.0M | 3% |
| Perpetual license | $6.9M | 1% |
