Adapthealth vs Astrana Health
Adapthealth and Astrana Health are similar in size: $3.24bn and $3.18bn of revenue in their latest fiscal years. Astrana Health grew faster (56.4% against -0.5%). Astrana Health kept more of each dollar of sales as profit: a net margin of 0.7% against -2.2%. Adapthealth carries less debt relative to equity (115.2% against 135.0%).
| Latest fiscal year | AdapthealthAHCO, 2025 | Astrana HealthASTH, 2025 |
|---|---|---|
| Revenue | $3.24bn | $3.18bn |
| Revenue growth | -0.5% | 56.4% |
| Net income | −$70.8m | $22.5m |
| Operating margin | 2.8% | 2.5% |
| Net margin | -2.2% | 0.7% |
| Return on equity | -4.6% | 3.0% |
| Free cash flow | $219m | $104m |
| Cash | $106m | $429m |
| Total debt | $1.75bn | $1.05bn |
| Debt to equity | 115.2% | 135.0% |
| Dividend per share | — | — |
| Dividend yield | — | 0.1% |
| Share buybacks | $0 | $25.6m |
| Employees | 10,900 | 3,000 |
| Market value | $806m | $1.80bn |
| Price vs our value range | — | Below our value range |
| Moat score | 25 (Weak) | 36 (Weak) |
| Insider trades, 12 months | 16 buys, 3 sales | 0 buys, 0 sales |