vs
Astrana Health, Inc.（ASTH）与Teladoc Health, Inc.（TDOC）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Teladoc Health, Inc.的1.5倍（$950.5M vs $642.3M），Astrana Health, Inc.同比增速更快（42.9% vs 0.3%），Teladoc Health, Inc.自由现金流更多（$85.1M vs $-6.0M），过去两年Astrana Health, Inc.的营收复合增速更高（53.3% vs -0.3%）
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。
泰莱达克健康是一家跨国远程医疗与虚拟医疗企业，2002年成立，总部位于美国纽约。公司核心业务涵盖远程问诊、医学意见咨询、人工智能与数据分析、远程医疗设备及可授权平台服务，主要通过电话、视频会议软件与移动应用，为用户提供随时可及的远程医疗服务。
ASTH vs TDOC — 直观对比
营收规模更大
ASTH
是对方的1.5倍
$642.3M
营收增速更快
ASTH
高出42.6%
0.3%
自由现金流更多
TDOC
多$91.1M
$-6.0M
两年增速更快
ASTH
近两年复合增速
-0.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $950.5M | $642.3M |
| 净利润 | $6.6M | — |
| 毛利率 | — | — |
| 营业利润率 | 1.9% | -5.6% |
| 净利率 | 0.7% | — |
| 营收同比 | 42.9% | 0.3% |
| 净利润同比 | 184.4% | — |
| 每股收益（稀释后） | $0.12 | $-0.14 |
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ASTHTDOC
| Q4 25 | $950.5M | $642.3M | ||
| Q3 25 | $956.0M | $626.4M | ||
| Q2 25 | $654.8M | $631.9M | ||
| Q1 25 | $620.4M | $629.4M | ||
| Q4 24 | $665.2M | $640.5M | ||
| Q3 24 | $478.7M | $640.5M | ||
| Q2 24 | $486.3M | $642.4M | ||
| Q1 24 | $404.4M | $646.1M |
净利润ASTHTDOC
| Q4 25 | $6.6M | — | ||
| Q3 25 | $373.0K | $-49.5M | ||
| Q2 25 | $9.4M | $-32.7M | ||
| Q1 25 | $6.7M | $-93.0M | ||
| Q4 24 | $-7.8M | — | ||
| Q3 24 | $16.1M | $-33.3M | ||
| Q2 24 | $19.2M | $-837.7M | ||
| Q1 24 | $14.8M | $-81.9M |
营业利润率ASTHTDOC
| Q4 25 | 1.9% | -5.6% | ||
| Q3 25 | 2.0% | -8.3% | ||
| Q2 25 | 3.1% | -8.6% | ||
| Q1 25 | 3.3% | -19.2% | ||
| Q4 24 | 0.1% | -7.5% | ||
| Q3 24 | 5.9% | -6.9% | ||
| Q2 24 | 6.2% | -130.9% | ||
| Q1 24 | 7.5% | -13.5% |
净利率ASTHTDOC
| Q4 25 | 0.7% | — | ||
| Q3 25 | 0.0% | -7.9% | ||
| Q2 25 | 1.4% | -5.2% | ||
| Q1 25 | 1.1% | -14.8% | ||
| Q4 24 | -1.2% | — | ||
| Q3 24 | 3.4% | -5.2% | ||
| Q2 24 | 3.9% | -130.4% | ||
| Q1 24 | 3.7% | -12.7% |
每股收益（稀释后）ASTHTDOC
| Q4 25 | $0.12 | $-0.14 | ||
| Q3 25 | $0.01 | $-0.28 | ||
| Q2 25 | $0.19 | $-0.19 | ||
| Q1 25 | $0.14 | $-0.53 | ||
| Q4 24 | $-0.14 | $-0.27 | ||
| Q3 24 | $0.33 | $-0.19 | ||
| Q2 24 | $0.40 | $-4.92 | ||
| Q1 24 | $0.31 | $-0.49 |
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 | $781.1M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $779.3M | $1.4B |
| 总资产 | $2.2B | $2.9B |
| 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ASTHTDOC
| Q4 25 | $429.5M | $781.1M | ||
| Q3 25 | $463.4M | $726.2M | ||
| Q2 25 | $342.1M | $679.6M | ||
| Q1 25 | $260.9M | $1.2B | ||
| Q4 24 | $290.8M | $1.3B | ||
| Q3 24 | $350.3M | $1.2B | ||
| Q2 24 | $327.7M | $1.2B | ||
| Q1 24 | $337.3M | $1.1B |
股东权益ASTHTDOC
| Q4 25 | $779.3M | $1.4B | ||
| Q3 25 | $775.5M | $1.4B | ||
| Q2 25 | $765.5M | $1.4B | ||
| Q1 25 | $745.4M | $1.4B | ||
| Q4 24 | $712.7M | $1.5B | ||
| Q3 24 | $704.6M | $1.5B | ||
| Q2 24 | $678.9M | $1.5B | ||
| Q1 24 | $653.5M | $2.3B |
总资产ASTHTDOC
| Q4 25 | $2.2B | $2.9B | ||
| Q3 25 | $2.2B | $2.9B | ||
| Q2 25 | $1.4B | $2.9B | ||
| Q1 25 | $1.3B | $3.4B | ||
| Q4 24 | $1.4B | $3.5B | ||
| Q3 24 | $1.3B | $3.5B | ||
| Q2 24 | $1.3B | $3.5B | ||
| Q1 24 | $1.2B | $4.3B |
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 | $87.7M |
| 自由现金流经营现金流 - 资本支出 | $-6.0M | $85.1M |
| 自由现金流率自由现金流/营收 | -0.6% | 13.3% |
| 资本支出强度资本支出/营收 | 0.3% | 0.4% |
| 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 | $285.5M |
8季度趋势，按日历期对齐
经营现金流ASTHTDOC
| Q4 25 | $-2.9M | $87.7M | ||
| Q3 25 | $10.0M | $99.3M | ||
| Q2 25 | $90.9M | $91.4M | ||
| Q1 25 | $16.6M | $15.9M | ||
| Q4 24 | $-10.9M | $85.9M | ||
| Q3 24 | $34.0M | $110.2M | ||
| Q2 24 | $23.2M | $88.7M | ||
| Q1 24 | $6.0M | $8.9M |
自由现金流ASTHTDOC
| Q4 25 | $-6.0M | $85.1M | ||
| Q3 25 | $7.4M | $97.0M | ||
| Q2 25 | $89.5M | $90.2M | ||
| Q1 25 | $13.6M | $13.2M | ||
| Q4 24 | $-13.5M | $79.8M | ||
| Q3 24 | $31.7M | $108.6M | ||
| Q2 24 | $20.4M | $86.8M | ||
| Q1 24 | $5.6M | $7.8M |
自由现金流率ASTHTDOC
| Q4 25 | -0.6% | 13.3% | ||
| Q3 25 | 0.8% | 15.5% | ||
| Q2 25 | 13.7% | 14.3% | ||
| Q1 25 | 2.2% | 2.1% | ||
| Q4 24 | -2.0% | 12.5% | ||
| Q3 24 | 6.6% | 17.0% | ||
| Q2 24 | 4.2% | 13.5% | ||
| Q1 24 | 1.4% | 1.2% |
资本支出强度ASTHTDOC
| Q4 25 | 0.3% | 0.4% | ||
| Q3 25 | 0.3% | 0.4% | ||
| Q2 25 | 0.2% | 0.2% | ||
| Q1 25 | 0.5% | 0.4% | ||
| Q4 24 | 0.4% | 1.0% | ||
| Q3 24 | 0.5% | 0.2% | ||
| Q2 24 | 0.6% | 0.3% | ||
| Q1 24 | 0.1% | 0.2% |
现金转化率ASTHTDOC
| 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% |
TDOC
| Teladoc Health Integrated Care | $409.1M | 64% |
| Better Help | $233.2M | 36% |
