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Astrana Health, Inc. key statistics and ratios

In fiscal 2025, Astrana Health, Inc. had return on equity of 3.0%, an operating margin of 2.5%, debt equal to 135.0% of equity and a current ratio of 1.40. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2011Jan 20112012Jan 20122013Jan 20132014Jan 20142015Mar 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Gross margin14.9%19.1%18.8%13.4%——23.3%30.5%16.6%21.5%23.0%—————
Operating margin0.1%−8.1%−26.7%−37.3%−2.1%3.8%9.9%17.0%5.8%11.7%12.7%9.1%6.1%4.4%2.5%2.6%
Net margin−4.0%−14.1%−114.5%−47.9%−5.5%3.7%7.2%2.1%2.5%5.5%8.9%3.9%4.4%2.1%0.7%1.1%
Free-cash-flow margin−6.8%−7.7%0.2%−14.3%−1.0%6.1%14.0%4.7%2.3%6.5%6.6%5.2%2.9%2.2%3.3%2.5%
Return on equity—————27.1%20.9%6.4%7.6%14.4%17.7%9.1%10.5%6.5%3.0%5.0%
Return on assets−12.4%———−12.0%6.3%6.1%2.2%2.3%4.9%8.2%4.9%6.4%3.8%1.3%1.8%
Asset turnover3.10———2.201.680.851.040.900.890.921.251.461.781.781.71
Current ratio12.91———1.651.601.322.403.122.943.532.882.111.751.401.23
Debt to equity——————3.1%0.0%131.1%74.3%41.9%38.2%45.9%61.5%135.0%114.2%
Interest cover (operating income ÷ interest)0.0xn/mn/mn/mn/m189.8x—157.6x6.8x8.5x18.2x13.2x5.3x2.7x1.6x1.5x
Effective tax rate—————46.8%7.8%27.1%31.6%31.6%40.8%47.2%35.6%38.2%39.2%34.7%
Capital spending as % of revenue0.5%0.1%0.6%0.2%0.1%1.1%0.6%0.2%0.2%0.2%2.5%2.0%2.1%0.4%0.3%0.4%
Free cash flow ÷ net income—————162.5%192.8%224.5%89.5%119.4%74.2%131.0%65.4%102.4%464.7%232.8%
Dividends ÷ net income—————232.8%40.5%163.9%437.2%136.2%45.1%31.1%102.2%9.4%35.1%4.6%
Dividends and buybacks ÷ free cash flow—————146.1%27.4%93.8%548.6%115.2%72.1%39.3%182.0%11.2%32.0%20.8%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

1 of 7 checks passed · June 30, 2026
What it owns · $2.3bn
Short-term assets $919mLonger-term assets $1.4bn
What it owes, and who funded it · $2.5bn
Short-term liabilities $748mLonger-term liabilities $936mShareholders' equity $830m
  • Short-term assets cover short-term liabilities $919m of assets due within a year against $748m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $919m short-term assets against $936m of longer-dated liabilities.
  • More cash than debt $401m of cash against $936m of debt.
  • Debt below 40% of shareholders' equity Debt is 113% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 41% to 113% over five years.
  • A year's operating cash flow covers at least 20% of debt $108m of operating cash flow against $936m of debt.
  • Operating profit covers interest at least five times over Operating income of $100m against $67m of interest.

From Astrana Health, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

36 /100

Weak moat

How hard Astrana Health's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 5 / 20

    Net income has been a median 4.6% of total assets over 10 years.

  • Durability 6 / 20

    Operating margin has been a median 8.4%; its worst year was 2.6%.

  • Cash conversion 11 / 20

    Free cash flow was positive in 9 of 10 years, at a median 4.9% of revenue.

  • Discipline 10 / 20

    The diluted share count rose 20.4% over five years; stock-based pay has been a median 0.9% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (40 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

Head to head: AMN vs ASTHASTH vs CHEASTH vs AVAHASTH vs OPCH

More: Health Care Services stocks compared, Health Care sector, rankings of US companies

Figures from Astrana Health, Inc.'s SEC filings (10-K and 10-Q), retrieved October 26, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Astrana Health, Inc.