vs
Astrana Health, Inc.（ASTH）与希悦尔（SEE）财务数据对比。点击上方公司名可切换其他公司
希悦尔的季度营收约是Astrana Health, Inc.的1.5倍（$1.4B vs $950.5M），希悦尔净利率更高（3.1% vs 0.7%，领先2.5%），Astrana Health, Inc.同比增速更快（42.9% vs 2.6%），希悦尔自由现金流更多（$257.7M vs $-6.0M），过去两年Astrana Health, Inc.的营收复合增速更高（53.3% vs 2.7%）
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。
希悦尔是全球领先的包装与防护解决方案供应商，核心产品包括缓冲防护材料、食品保鲜包装、可持续减废包装系统，服务覆盖电商、零售、食品饮料、工业制造等多个海内外领域。
ASTH vs SEE — 直观对比
营收规模更大
SEE
是对方的1.5倍
$950.5M
营收增速更快
ASTH
高出40.3%
2.6%
净利率更高
SEE
高出2.5%
0.7%
自由现金流更多
SEE
多$263.6M
$-6.0M
两年增速更快
ASTH
近两年复合增速
2.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $950.5M | $1.4B |
| 净利润 | $6.6M | $43.8M |
| 毛利率 | — | 28.6% |
| 营业利润率 | 1.9% | 11.4% |
| 净利率 | 0.7% | 3.1% |
| 营收同比 | 42.9% | 2.6% |
| 净利润同比 | 184.4% | 700.0% |
| 每股收益（稀释后） | $0.12 | $0.30 |
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ASTHSEE
| Q4 25 | $950.5M | $1.4B | ||
| Q3 25 | $956.0M | $1.3B | ||
| Q2 25 | $654.8M | $1.3B | ||
| Q1 25 | $620.4M | $1.3B | ||
| Q4 24 | $665.2M | $1.4B | ||
| Q3 24 | $478.7M | $1.3B | ||
| Q2 24 | $486.3M | $1.3B | ||
| Q1 24 | $404.4M | $1.3B |
净利润ASTHSEE
| Q4 25 | $6.6M | $43.8M | ||
| Q3 25 | $373.0K | $255.1M | ||
| Q2 25 | $9.4M | $93.1M | ||
| Q1 25 | $6.7M | $113.5M | ||
| Q4 24 | $-7.8M | $-7.3M | ||
| Q3 24 | $16.1M | $91.7M | ||
| Q2 24 | $19.2M | $98.3M | ||
| Q1 24 | $14.8M | $82.0M |
毛利率ASTHSEE
| Q4 25 | — | 28.6% | ||
| Q3 25 | — | 29.8% | ||
| Q2 25 | — | 30.7% | ||
| Q1 25 | — | 30.9% | ||
| Q4 24 | — | 30.0% | ||
| Q3 24 | — | 30.1% | ||
| Q2 24 | — | 31.2% | ||
| Q1 24 | — | 30.3% |
营业利润率ASTHSEE
| Q4 25 | 1.9% | 11.4% | ||
| Q3 25 | 2.0% | 13.8% | ||
| Q2 25 | 3.1% | 15.0% | ||
| Q1 25 | 3.3% | 14.5% | ||
| Q4 24 | 0.1% | 11.7% | ||
| Q3 24 | 5.9% | 13.9% | ||
| Q2 24 | 6.2% | 15.4% | ||
| Q1 24 | 7.5% | 14.0% |
净利率ASTHSEE
| Q4 25 | 0.7% | 3.1% | ||
| Q3 25 | 0.0% | 19.0% | ||
| Q2 25 | 1.4% | 7.0% | ||
| Q1 25 | 1.1% | 9.0% | ||
| Q4 24 | -1.2% | -0.5% | ||
| Q3 24 | 3.4% | 6.9% | ||
| Q2 24 | 3.9% | 7.4% | ||
| Q1 24 | 3.7% | 6.2% |
每股收益（稀释后）ASTHSEE
| Q4 25 | $0.12 | $0.30 | ||
| Q3 25 | $0.01 | $1.73 | ||
| Q2 25 | $0.19 | $0.63 | ||
| Q1 25 | $0.14 | $0.77 | ||
| Q4 24 | $-0.14 | $-0.05 | ||
| Q3 24 | $0.33 | $0.63 | ||
| Q2 24 | $0.40 | $0.67 | ||
| Q1 24 | $0.31 | $0.56 |
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 | $344.0M |
| 总债务越低越好 | — | $3.3B |
| 股东权益账面价值 | $779.3M | $1.2B |
| 总资产 | $2.2B | $7.0B |
| 负债/权益比越低杠杆越低 | — | 2.65× |
8季度趋势，按日历期对齐
现金及短期投资ASTHSEE
| Q4 25 | $429.5M | $344.0M | ||
| Q3 25 | $463.4M | $282.5M | ||
| Q2 25 | $342.1M | $354.4M | ||
| Q1 25 | $260.9M | $335.2M | ||
| Q4 24 | $290.8M | $371.8M | ||
| Q3 24 | $350.3M | $386.0M | ||
| Q2 24 | $327.7M | $388.6M | ||
| Q1 24 | $337.3M | $352.8M |
总债务ASTHSEE
| Q4 25 | — | $3.3B | ||
| Q3 25 | — | $4.0B | ||
| Q2 25 | — | $4.0B | ||
| Q1 25 | — | $4.2B | ||
| Q4 24 | — | $4.2B | ||
| Q3 24 | — | $4.3B | ||
| Q2 24 | — | $4.4B | ||
| Q1 24 | — | $4.5B |
股东权益ASTHSEE
| Q4 25 | $779.3M | $1.2B | ||
| Q3 25 | $775.5M | $1.2B | ||
| Q2 25 | $765.5M | $953.1M | ||
| Q1 25 | $745.4M | $797.9M | ||
| Q4 24 | $712.7M | $624.5M | ||
| Q3 24 | $704.6M | $771.2M | ||
| Q2 24 | $678.9M | $650.1M | ||
| Q1 24 | $653.5M | $598.3M |
总资产ASTHSEE
| Q4 25 | $2.2B | $7.0B | ||
| Q3 25 | $2.2B | $7.1B | ||
| Q2 25 | $1.4B | $7.2B | ||
| Q1 25 | $1.3B | $7.0B | ||
| Q4 24 | $1.4B | $7.0B | ||
| Q3 24 | $1.3B | $7.3B | ||
| Q2 24 | $1.3B | $7.3B | ||
| Q1 24 | $1.2B | $7.2B |
负债/权益比ASTHSEE
| Q4 25 | — | 2.65× | ||
| Q3 25 | — | 3.34× | ||
| Q2 25 | — | 4.18× | ||
| Q1 25 | — | 5.26× | ||
| Q4 24 | — | 6.72× | ||
| Q3 24 | — | 5.62× | ||
| Q2 24 | — | 6.81× | ||
| Q1 24 | — | 7.49× |
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 | $293.6M |
| 自由现金流经营现金流 - 资本支出 | $-6.0M | $257.7M |
| 自由现金流率自由现金流/营收 | -0.6% | 18.5% |
| 资本支出强度资本支出/营收 | 0.3% | 2.6% |
| 现金转化率经营现金流/净利润 | -0.44× | 6.70× |
| 过去12个月自由现金流最近4个季度 | $104.5M | $458.5M |
8季度趋势，按日历期对齐
经营现金流ASTHSEE
| Q4 25 | $-2.9M | $293.6M | ||
| Q3 25 | $10.0M | $165.9M | ||
| Q2 25 | $90.9M | $136.6M | ||
| Q1 25 | $16.6M | $31.9M | ||
| Q4 24 | $-10.9M | $244.2M | ||
| Q3 24 | $34.0M | $170.5M | ||
| Q2 24 | $23.2M | $188.2M | ||
| Q1 24 | $6.0M | $125.1M |
自由现金流ASTHSEE
| Q4 25 | $-6.0M | $257.7M | ||
| Q3 25 | $7.4M | $119.6M | ||
| Q2 25 | $89.5M | $93.2M | ||
| Q1 25 | $13.6M | $-12.0M | ||
| Q4 24 | $-13.5M | $185.1M | ||
| Q3 24 | $31.7M | $115.2M | ||
| Q2 24 | $20.4M | $129.5M | ||
| Q1 24 | $5.6M | $78.0M |
自由现金流率ASTHSEE
| Q4 25 | -0.6% | 18.5% | ||
| Q3 25 | 0.8% | 8.9% | ||
| Q2 25 | 13.7% | 7.0% | ||
| Q1 25 | 2.2% | -0.9% | ||
| Q4 24 | -2.0% | 13.6% | ||
| Q3 24 | 6.6% | 8.6% | ||
| Q2 24 | 4.2% | 9.7% | ||
| Q1 24 | 1.4% | 5.9% |
资本支出强度ASTHSEE
| Q4 25 | 0.3% | 2.6% | ||
| Q3 25 | 0.3% | 3.4% | ||
| Q2 25 | 0.2% | 3.3% | ||
| Q1 25 | 0.5% | 3.5% | ||
| Q4 24 | 0.4% | 4.4% | ||
| Q3 24 | 0.5% | 4.1% | ||
| Q2 24 | 0.6% | 4.4% | ||
| Q1 24 | 0.1% | 3.6% |
现金转化率ASTHSEE
| Q4 25 | -0.44× | 6.70× | ||
| Q3 25 | 26.69× | 0.65× | ||
| Q2 25 | 9.65× | 1.47× | ||
| Q1 25 | 2.48× | 0.28× | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.11× | 1.86× | ||
| Q2 24 | 1.21× | 1.91× | ||
| Q1 24 | 0.40× | 1.53× |
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% |
SEE
| Protective Segment | $1.1B | 78% |
| Other | $292.0M | 21% |
| Pension Plans Defined Benefit | $7.9M | 1% |
