Astrana Health vs National Healthcare
Astrana Health reported revenue of $3.2 billion in fiscal 2025, 2.1 times National Healthcare's $1.5 billion in fiscal 2025. Astrana Health's revenue grew 56.4% in its latest year, and National Healthcare's grew 16.1%. Astrana Health had an operating margin of 2.5%, against 8.5% at National Healthcare. Free cash flow was $104 million at Astrana Health and $149 million at National Healthcare.
Side by side
| Astrana Health | National Healthcare | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $3.2B | $1.5B |
| Revenue growth | 56.4% | 16.1% |
| Revenue growth a year, last 5 years | 35.9% | 8.1% |
| Gross margin | — | — |
| Operating margin | 2.5% | 8.5% |
| Net margin | 0.7% | 7.9% |
| Free cash flow | $104M | $149M |
| Free cash flow margin | 3.3% | 9.8% |
| Return on capital | 4.2% | 9.4% |
| Net debt to EBITDA | 4.9x | −0.3x |
| Dividends and buybacks | $34M | $53M |
| Change in diluted share count | 2.9% | 0.3% |
| Last close | $34.50 | $208.85 |
| P/E at the last close | 31.9× | 28.9× |
| Insider trades, last 12 months | — | bought $174,863, sold $11.2 million |
| Piotroski F-score | 4 of 8 | 6 of 8 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
Astrana HealthNational Healthcare
Operating margin
Percent of revenue
Astrana HealthNational Healthcare
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
Astrana HealthNational Healthcare
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Astrana Health and National Healthcare pages.