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Astrana Health, Inc.（ASTH）与West Pharmaceutical Services（WST）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West Pharmaceutical Services的1.2倍（$950.5M vs $805.0M），West Pharmaceutical Services净利率更高（16.4% vs 0.7%，领先15.7%），Astrana Health, Inc.同比增速更快（42.9% vs 7.5%），West Pharmaceutical Services自由现金流更多（$175.0M vs $-6.0M），过去两年Astrana Health, Inc.的营收复合增速更高（53.3% vs 7.6%）
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。
美国West Pharmaceutical Services是注射用药品包装及给药系统的设计和制造商，1923年成立，总部位于宾夕法尼亚州埃克斯顿。成立初期主营注射类药物包装用橡胶组件，曾为青霉素和胰岛素生产商提供符合无菌要求的配套产品。
ASTH vs WST — 直观对比
营收规模更大
ASTH
是对方的1.2倍
$805.0M
营收增速更快
ASTH
高出35.4%
7.5%
净利率更高
WST
高出15.7%
0.7%
自由现金流更多
WST
多$180.9M
$-6.0M
两年增速更快
ASTH
近两年复合增速
7.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $950.5M | $805.0M |
| 净利润 | $6.6M | $132.1M |
| 毛利率 | — | 37.8% |
| 营业利润率 | 1.9% | 19.5% |
| 净利率 | 0.7% | 16.4% |
| 营收同比 | 42.9% | 7.5% |
| 净利润同比 | 184.4% | 1.5% |
| 每股收益（稀释后） | $0.12 | $1.82 |
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ASTHWST
| Q4 25 | $950.5M | $805.0M | ||
| Q3 25 | $956.0M | $804.6M | ||
| Q2 25 | $654.8M | $766.5M | ||
| Q1 25 | $620.4M | $698.0M | ||
| Q4 24 | $665.2M | $748.8M | ||
| Q3 24 | $478.7M | $746.9M | ||
| Q2 24 | $486.3M | $702.1M | ||
| Q1 24 | $404.4M | $695.4M |
净利润ASTHWST
| Q4 25 | $6.6M | $132.1M | ||
| Q3 25 | $373.0K | $140.0M | ||
| Q2 25 | $9.4M | $131.8M | ||
| Q1 25 | $6.7M | $89.8M | ||
| Q4 24 | $-7.8M | $130.1M | ||
| Q3 24 | $16.1M | $136.0M | ||
| Q2 24 | $19.2M | $111.3M | ||
| Q1 24 | $14.8M | $115.3M |
毛利率ASTHWST
| Q4 25 | — | 37.8% | ||
| Q3 25 | — | 36.6% | ||
| Q2 25 | — | 35.7% | ||
| Q1 25 | — | 33.2% | ||
| Q4 24 | — | 36.5% | ||
| Q3 24 | — | 35.4% | ||
| Q2 24 | — | 32.8% | ||
| Q1 24 | — | 33.1% |
营业利润率ASTHWST
| Q4 25 | 1.9% | 19.5% | ||
| Q3 25 | 2.0% | 20.8% | ||
| Q2 25 | 3.1% | 20.1% | ||
| Q1 25 | 3.3% | 15.3% | ||
| Q4 24 | 0.1% | 21.3% | ||
| Q3 24 | 5.9% | 21.6% | ||
| Q2 24 | 6.2% | 18.0% | ||
| Q1 24 | 7.5% | 17.7% |
净利率ASTHWST
| Q4 25 | 0.7% | 16.4% | ||
| Q3 25 | 0.0% | 17.4% | ||
| Q2 25 | 1.4% | 17.2% | ||
| Q1 25 | 1.1% | 12.9% | ||
| Q4 24 | -1.2% | 17.4% | ||
| Q3 24 | 3.4% | 18.2% | ||
| Q2 24 | 3.9% | 15.9% | ||
| Q1 24 | 3.7% | 16.6% |
每股收益（稀释后）ASTHWST
| Q4 25 | $0.12 | $1.82 | ||
| Q3 25 | $0.01 | $1.92 | ||
| Q2 25 | $0.19 | $1.82 | ||
| Q1 25 | $0.14 | $1.23 | ||
| Q4 24 | $-0.14 | $1.78 | ||
| Q3 24 | $0.33 | $1.85 | ||
| Q2 24 | $0.40 | $1.51 | ||
| Q1 24 | $0.31 | $1.55 |
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 | $791.3M |
| 总债务越低越好 | — | $202.8M |
| 股东权益账面价值 | $779.3M | $3.2B |
| 总资产 | $2.2B | $4.3B |
| 负债/权益比越低杠杆越低 | — | 0.06× |
8季度趋势，按日历期对齐
现金及短期投资ASTHWST
| Q4 25 | $429.5M | $791.3M | ||
| Q3 25 | $463.4M | $628.5M | ||
| Q2 25 | $342.1M | $509.7M | ||
| Q1 25 | $260.9M | $404.2M | ||
| Q4 24 | $290.8M | $484.6M | ||
| Q3 24 | $350.3M | $490.9M | ||
| Q2 24 | $327.7M | $446.2M | ||
| Q1 24 | $337.3M | $601.8M |
总债务ASTHWST
| Q4 25 | — | $202.8M | ||
| Q3 25 | — | $202.7M | ||
| Q2 25 | — | $202.6M | ||
| Q1 25 | — | $202.6M | ||
| Q4 24 | — | $202.6M | ||
| Q3 24 | — | $202.6M | ||
| Q2 24 | — | $205.8M | ||
| Q1 24 | — | $206.2M |
股东权益ASTHWST
| Q4 25 | $779.3M | $3.2B | ||
| Q3 25 | $775.5M | $3.1B | ||
| Q2 25 | $765.5M | $2.9B | ||
| Q1 25 | $745.4M | $2.7B | ||
| Q4 24 | $712.7M | $2.7B | ||
| Q3 24 | $704.6M | $2.8B | ||
| Q2 24 | $678.9M | $2.6B | ||
| Q1 24 | $653.5M | $2.7B |
总资产ASTHWST
| Q4 25 | $2.2B | $4.3B | ||
| Q3 25 | $2.2B | $4.1B | ||
| Q2 25 | $1.4B | $4.0B | ||
| Q1 25 | $1.3B | $3.6B | ||
| Q4 24 | $1.4B | $3.6B | ||
| Q3 24 | $1.3B | $3.7B | ||
| Q2 24 | $1.3B | $3.5B | ||
| Q1 24 | $1.2B | $3.6B |
负债/权益比ASTHWST
| Q4 25 | — | 0.06× | ||
| Q3 25 | — | 0.07× | ||
| Q2 25 | — | 0.07× | ||
| Q1 25 | — | 0.08× | ||
| Q4 24 | — | 0.08× | ||
| Q3 24 | — | 0.07× | ||
| Q2 24 | — | 0.08× | ||
| Q1 24 | — | 0.08× |
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 | $251.1M |
| 自由现金流经营现金流 - 资本支出 | $-6.0M | $175.0M |
| 自由现金流率自由现金流/营收 | -0.6% | 21.7% |
| 资本支出强度资本支出/营收 | 0.3% | 9.5% |
| 现金转化率经营现金流/净利润 | -0.44× | 1.90× |
| 过去12个月自由现金流最近4个季度 | $104.5M | $468.9M |
8季度趋势，按日历期对齐
经营现金流ASTHWST
| Q4 25 | $-2.9M | $251.1M | ||
| Q3 25 | $10.0M | $197.2M | ||
| Q2 25 | $90.9M | $177.1M | ||
| Q1 25 | $16.6M | $129.4M | ||
| Q4 24 | $-10.9M | $190.1M | ||
| Q3 24 | $34.0M | $180.1M | ||
| Q2 24 | $23.2M | $165.0M | ||
| Q1 24 | $6.0M | $118.2M |
自由现金流ASTHWST
| Q4 25 | $-6.0M | $175.0M | ||
| Q3 25 | $7.4M | $133.9M | ||
| Q2 25 | $89.5M | $101.9M | ||
| Q1 25 | $13.6M | $58.1M | ||
| Q4 24 | $-13.5M | $85.2M | ||
| Q3 24 | $31.7M | $98.8M | ||
| Q2 24 | $20.4M | $64.8M | ||
| Q1 24 | $5.6M | $27.6M |
自由现金流率ASTHWST
| Q4 25 | -0.6% | 21.7% | ||
| Q3 25 | 0.8% | 16.6% | ||
| Q2 25 | 13.7% | 13.3% | ||
| Q1 25 | 2.2% | 8.3% | ||
| Q4 24 | -2.0% | 11.4% | ||
| Q3 24 | 6.6% | 13.2% | ||
| Q2 24 | 4.2% | 9.2% | ||
| Q1 24 | 1.4% | 4.0% |
资本支出强度ASTHWST
| Q4 25 | 0.3% | 9.5% | ||
| Q3 25 | 0.3% | 7.9% | ||
| Q2 25 | 0.2% | 9.8% | ||
| Q1 25 | 0.5% | 10.2% | ||
| Q4 24 | 0.4% | 14.0% | ||
| Q3 24 | 0.5% | 10.9% | ||
| Q2 24 | 0.6% | 14.3% | ||
| Q1 24 | 0.1% | 13.0% |
现金转化率ASTHWST
| Q4 25 | -0.44× | 1.90× | ||
| Q3 25 | 26.69× | 1.41× | ||
| Q2 25 | 9.65× | 1.34× | ||
| Q1 25 | 2.48× | 1.44× | ||
| Q4 24 | — | 1.46× | ||
| Q3 24 | 2.11× | 1.32× | ||
| Q2 24 | 1.21× | 1.48× | ||
| Q1 24 | 0.40× | 1.03× |
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% |
WST
| Proprietary Products | $661.8M | 82% |
| Contract Manufactured Products | $143.2M | 18% |
| Affiliated Entity | $3.3M | 0% |
