Astrana Health Inc. (ASTH) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$0.73	$0.8	+9.6%	—	$972.5M	—
Q1 26	$0.65	$0.74	+13.8%	—	$965.1M	—
Q4 25	$0.33	$0.42	+27.3%	—	$950.5M	—
Q3 25	$0.61	$0.67	+9.8%	—	$956M	—
Q2 25	$0.48	$0.58	+20.8%	—	$654.8M	—
Q1 25	$0.33	$0.44	+33.3%	—	$620.4M	—
Q4 24	$0.21	$0.37	+76.2%	—	$665.2M	—
Q3 24	$0.38	$0.42	+10.5%	—	$478.7M	—
Q2 24	$0.56	$0.45	-19.6%	—	$486.3M	—
Q1 24	$0.29	$0.64	+120.7%	—	$404.4M	—
Q4 23	$0.22	$0.73	+231.8%	—	$353M	—
Q3 23	$0.32	$0.47	+46.9%	—	$348.2M	—
Q2 23	$0.35	$0.28	-20.0%	—	$348.2M	—
Q1 23	$0.46	$0.31	-32.6%	—	$337.2M	—
Q4 22	-$0.23	-$0.06	+73.9%	—	$294.2M	—
Q3 22	$0.32	$0.56	+75.0%	—	$317M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$0.46	—	—	$3.2B	—
FY24	—	$0.91	—	—	$2B	—
FY23	—	$1.3	—	—	$1.4B	—
FY22	—	$1.09	—	—	$1.1B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$44M	$356.4M	$519.9M	$560.6M	$370.2M	$773.9M	$1.1B	$1.4B	$2B	$3.2B
YoY change	+33.5%	+709%	+45.9%	+7.83%	-34%	+109%	+47.8%	+21.2%	+46.7%	+56.4%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	44M	356.4M	519.9M	560.6M	370.2M	773.9M	1.1B	1.4B	2B	3.2B
Cost of revenue	34M	273.5M	361.1M	467.8M	348.5M	596.1M	944.7M	1.2B	1.8B	2.8B
Gross profit	10M	82.9M	158.8M	92.8M	21.7M	177.8M	199.5M	215M	271.4M	341.5M
Gross margin	22.8%	23.3%	30.5%	16.6%	5.86%	23%	17.4%	15.5%	13.3%	10.7%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	17M	26.2M	43.4M	41.5M	15.6M	62.1M	77.7M	112.6M	154.1M	217.3M
Operating expenses	17M	21.8M	38.1M	36.3M	10.6M	55.5M	71.5M	112.6M	154.1M	217.3M
Operating income	-7.3M	37.6M	92.2M	34.4M	6.1M	98.2M	104.3M	84.6M	89.3M	78.5M
Operating margin	-16.5%	10.5%	17.7%	6.14%	1.64%	12.7%	9.11%	6.1%	4.39%	2.47%
Non-operating income, net	-436K	11.2M	-10.3M	-5.9M	4.9M	-16.6M	-11.7M	7.1M	10.1M	-1.1M
Pretax income	-8.2M	49.7M	82.6M	25.8M	8.9M	77.7M	86.6M	89.8M	80.8M	39.6M
Income tax	-71K	3.9M	22.4M	8.2M	9.2M	31.7M	40.9M	32M	30.9M	15.5M
Net income	-8.2M	45.8M	60.3M	17.7M	-314K	46.1M	45.7M	57.8M	49.9M	24.1M
Net margin	-18.6%	12.9%	11.6%	3.15%	-0.08%	5.95%	4%	4.17%	2.45%	0.76%
EBITDA	-6.7M	56.7M	106.3M	50.8M	40.3M	109.2M	133.3M	128.3M	141.1M	135.4M
EPS	-1.59	0.8	0.33	0.41	1.04	1.69	1.09	1.3	0.91	0.46
Diluted EPS	-1.59	0.8	0.29	0.39	1.01	1.63	1.08	1.29	0.9	0.46

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	348.2M	353M	404.4M	486.3M	478.7M	665.2M	620.4M	654.8M	956M	950.5M	965.1M	972.5M
Cost of revenue	275.4M	314.1M	330.4M	412.8M	405.2M	614.7M	549.1M	576.8M	858.9M	855.5M	859.4M	868.5M
Gross profit	72.8M	39M	74M	73.5M	73.5M	50.5M	71.3M	78M	97.2M	95M	105.7M	104M
Gross margin	20.9%	11%	18.3%	15.1%	15.4%	7.59%	11.5%	11.9%	10.2%	10%	11%	10.7%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	29.4M	37.9M	38.7M	36M	37.8M	41.6M	43.9M	50.7M	62.4M	60.2M	61.7M	54.1M
Operating expenses	29.4M	37.9M	38.7M	36M	37.8M	41.6M	43.9M	50.7M	62.4M	60.2M	61.7M	54.1M
Operating income	39.1M	-3.9M	30.1M	30.1M	28.4M	720K	20.6M	20.3M	19.2M	18.4M	28.5M	34.3M
Operating margin	11.2%	-1.1%	7.45%	6.18%	5.94%	0.11%	3.32%	3.11%	2.01%	1.94%	2.96%	3.53%
Non-operating income, net	-570K	5.6M	-2.5M	6.9M	3.5M	2.2M	-6M	1.5M	657K	2.6M	3.5M	3M
Pretax income	38M	924K	24M	31.9M	26.8M	-1.9M	9.6M	16.8M	5.7M	7.5M	19.7M	27.2M
Income tax	10M	1M	7.1M	10M	7.8M	5.9M	3.4M	6.6M	4.6M	944K	6.6M	8.8M
Net income	28M	-94K	16.9M	21.9M	19M	-7.8M	6.2M	10.2M	1.1M	6.6M	13.1M	18.5M
Net margin	8.03%	-0.03%	4.17%	4.5%	3.97%	-1.17%	1%	1.56%	0.11%	0.69%	1.36%	1.9%
EBITDA	46.4M	10M	35.6M	48M	43.5M	14M	23.8M	31.1M	39.8M	40.7M	50.2M	54M
EPS	0.47	0.26	0.31	0.4	0.34	-0.15	0.14	0.19	0.01	0.12	0.3	0.4
Diluted EPS	0.47	0.26	0.31	0.4	0.33	-0.15	0.14	0.19	0.01	0.12	0.29	0.4

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	—	—	652.9M	639M	665.2M	—	1.3B	1.8B	1.5B	1.2B	1.7B
Enterprise value	—	—	558.6M	675.8M	664.6M	—	1.3B	1.8B	1.7B	1.9B	2.2B
Shares outstanding	5.9M	32.3M	32.9M	34.7M	36.4M	43.7M	45M	46.7M	47.4M	49.1M	49.1M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	—	10.8	36.2	—	—	29.1	30.9	29.9	50.6	44.4
P/S	—	—	1.26	1.14	1.8	—	1.16	1.29	0.73	0.38	0.47
P/B	—	—	1.61	1.77	1.49	—	2.38	4.35	2.91	2.18	2.16
EV/EBITDA	—	—	5.26	13.3	16.5	—	9.5	14.1	11.9	13.8	12.6
EV/Sales	—	—	1.07	1.21	1.79	—	1.11	1.31	0.82	0.59	0.57
Earnings yield	—	—	9.23%	2.77%	—	—	3.44%	3.23%	3.34%	1.98%	2.25%
FCF yield	—	—	3.73%	1.98%	6.76%	—	4.45%	2.22%	2.95%	8.58%	13.3%
PEG	—	—	—	—	—	—	—	—	—	—	0.4

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	22.8%	23.3%	30.5%	16.6%	5.86%	23%	17.4%	15.5%	13.3%	10.7%	10.7%
Operating margin	-16.5%	10.5%	17.7%	6.14%	1.64%	12.7%	9.11%	6.1%	4.39%	2.47%	3.53%
Net margin	-18.6%	12.9%	11.6%	3.15%	-0.08%	5.95%	4%	4.17%	2.45%	0.76%	1.05%
ROE	-95.6%	13.6%	14.8%	4.89%	-0.07%	9.02%	8.19%	14.1%	9.71%	4.31%	6.9%
ROA	-41.8%	9.34%	11.7%	2.43%	-0.04%	5.31%	4.73%	6.2%	3.69%	1.09%	3.76%
ROIC	1.4K%	14.3%	21.5%	5.92%	0%	13.7%	11.1%	12.5%	7.94%	3.95%	5.57%
Return on tangible assets	-70.4%	-47.7%	-186.2%	38.7%	-0.19%	22%	16.7%	24.9%	17.8%	-44.7%	182.7%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.82	1.32	2.4	3.12	2.94	3.53	2.88	2.11	1.75	1.4	1.23
Quick ratio	1.82	1.32	2.4	3.12	2.94	3.53	2.88	2.11	1.75	1.4	1.23
Debt / equity	0.02	0.02	0.03	0.71	0.59	0.39	0.41	0.78	0.92	1.93	1.64
Debt / assets	0.01	0.01	0.03	0.35	0.32	0.23	0.24	0.34	0.35	0.49	0.43
Net debt / EBITDA	1.36	-1.67	-0.89	0.72	-0.02	-0.78	-0.48	0.19	1.28	4.79	3.13
Interest coverage	-14.2	624.8	148.3	6.46	4.51	15.4	11.9	6.58	3.44	1.79	1.89
Effective tax rate	0%	7.82%	27.1%	31.6%	100%	40.8%	47.2%	35.6%	38.2%	39.2%	34.7%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	7.5	11	15.8	16.2	10.2	17.7	25.4	29.7	42.9	64.8	78.2
EPS (basic)	-1.59	0.8	0.33	0.41	1.04	1.69	1.09	1.3	0.91	0.46	0.46
EPS (diluted)	-1.59	0.8	0.29	0.39	1.01	1.63	1.08	1.29	0.9	0.46	0.82
Book value per share	1.46	10.4	12.4	10.4	12.2	11.7	12.4	8.79	10.8	11.4	16.9
FCF per share	-0.36	1.54	0.74	0.36	1.24	1.17	1.32	0.85	0.93	2.13	1.9
Cash per share	1.58	3.12	3.28	6.33	7.17	6.56	6.52	6.34	6.13	8.75	7.83
Capex per share	0.04	0.06	0.04	0.03	0.03	0.44	0.51	0.61	0.17	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	0.6%	0.59%	0.23%	0.19%	0.3%	2.48%	2%	2.06%	0.39%	—	—
Capex / operating cash flow	-7.4%	3.56%	4.59%	5.82%	0.71%	41.8%	34.2%	38.9%	11.4%	—	—
Payout ratio	—	22.8%	29.5%	349.2%	-16.3K%	67.5%	30.7%	107.3%	8.08%	32.8%	0%
Dividend yield	—	—	2.72%	9.66%	7.71%	—	1.05%	3.47%	0.27%	0.65%	0.65%

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$348.2M	$353M	$404.4M	$486.3M	$478.7M	$665.2M	$620.4M	$654.8M	$956M	$950.5M	$965.1M	$972.5M
YoY change	+9.83%	+20%	+19.9%	+39.6%	+37.5%	+88.4%	+53.4%	+34.7%	+99.7%	+42.9%	+55.6%	+48.5%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	9.3M	100.9M	108M	219.7M	261.2M	286.5M	293.6M	296.3M	290.8M	429.5M
Receivables	3.4M	7.6M	7.7M	11M	7.1M	10.6M	49.6M	76.8M	225.7M	374.5M
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	13.6M	144.2M	172.9M	329.1M	338.6M	404.5M	428.1M	461.5M	638.5M	863.3M
Property, plant & equipment	1.2M	11.5M	10.4M	24M	33.4M	47M	70.5M	44.6M	46.9M	83.5M
Goodwill & intangibles	8M	586.8M	545.4M	683M	652.1M	658.4M	691.8M	701M	1.1B	2.3B
Total assets	19.6M	490.6M	513M	728.7M	817.5M	867.4M	966.2M	933.4M	1.4B	2.2B
Accounts payable	2M	25.3M	4.5M	6.9M	9.6M	5.5M	10.5M	9.1M	15.2M	44.8M
Short-term debt	188.8K	5.6M	142K	12.6M	14.2M	3.9M	4.8M	24.8M	15.3M	55.7M
Total current liabilities	7.4M	109.6M	72M	105.4M	115M	114.7M	148.6M	218.7M	365.6M	615.3M
Long-term debt	0	619K	13.5M	244M	246.4M	197.1M	224.6M	296.3M	456.6M	1B
Total liabilities	11M	154.3M	106.3M	367.7M	372.3M	356.7M	407.7M	522.6M	840.7M	1.7B
Shareholders' equity	8.6M	336.3M	406.7M	361.1M	445.1M	510.6M	558.5M	410.8M	514.2M	558.3M
Total debt	188.8K	6.3M	13.7M	256.6M	260.6M	201M	229.4M	321M	471.8M	1.1B
Net debt	-9.1M	-93.5M	-93.2M	153.4M	67.1M	-32.1M	-58.7M	27.2M	183.4M	648.7M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	277M	296.3M	337.3M	327.7M	350.3M	290.8M	260.9M	342.1M	463.4M	429.5M	478.4M	400.8M
Receivables	95.9M	76.8M	120.1M	132.3M	132.2M	225.7M	241.1M	348.7M	381.2M	374.5M	467.4M	465.1M
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	476.2M	461.5M	538.8M	570.3M	597M	638.5M	613.3M	729.2M	883.6M	863.3M	1B	919.2M
Property, plant & equipment	150.1M	44.6M	47.1M	39.1M	45.3M	46.9M	47.5M	48.4M	90.1M	83.5M	93.5M	101.8M
Goodwill & intangibles	699.5M	701M	1.1B	1.1B	1B	1.1B	1.1B	1B	2.3B	2.3B	2.3B	2.3B
Total assets	1.1B	933.4M	1.2B	1.3B	1.3B	1.4B	1.3B	1.4B	2.2B	2.2B	2.4B	2.3B
Accounts payable	9.2M	9.1M	84.9M	38.2M	36.9M	15.2M	14.9M	14.3M	58.5M	44.8M	54.3M	46.5M
Short-term debt	7.2M	24.8M	26.4M	22.5M	20.8M	15.3M	17.9M	17.8M	55M	55.7M	55.4M	62.8M
Total current liabilities	203M	218.7M	355.3M	309.8M	312.9M	365.6M	361.3M	459.7M	629.9M	615.3M	745.4M	747.6M
Long-term debt	228.4M	296.3M	407.2M	453M	455M	456.6M	433.4M	429.8M	1B	1B	1B	916.6M
Total liabilities	457.6M	522.6M	773.9M	773.8M	778.3M	840.7M	813.5M	904.4M	1.7B	1.7B	1.8B	1.7B
Shareholders' equity	615.6M	410.8M	452.4M	478.7M	507.1M	514.2M	517.7M	537.9M	554.7M	558.3M	577.5M	598.6M
Total debt	235.6M	321M	433.6M	475.5M	475.8M	471.8M	451.4M	447.6M	1.1B	1.1B	1.1B	979.4M
Net debt	-38.4M	27.2M	98.8M	150.1M	127.8M	183.4M	192.8M	107.9M	625M	648.7M	586.8M	578.6M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	-8.2M	45.8M	60.3M	17.7M	122.1M	46.1M	45.7M	57.8M	49.9M	24.1M
Depreciation & amortization	351.4K	19.1M	19.3M	18.3M	18.4M	17.5M	17.5M	17.7M	27.9M	45.7M
Stock-based compensation	1.1M	2.7M	1.4M	1.5M	3.4M	6.7M	16.1M	22M	34.5M	38.6M
Change in working capital	2.7M	12.6M	-47.2M	-11M	10.5M	-36.3M	-2.8M	-20.4M	-52.8M	-7.8M
Operating cash flow	-3.5M	58.6M	25.5M	17.9M	156M	46M	67M	73.4M	70.6M	114.6M
Capital expenditure	-262.1K	-2.1M	-1.2M	-1M	-1.1M	-19.2M	-22.9M	-28.5M	-8M	—
Investing cash flow	-262.1K	25.5M	-25.8M	-180.9M	95.5M	16.5M	-7.5M	-65.5M	-192.4M	-528.9M
Dividends paid	—	-10.4M	-17.8M	-61.7M	-51.3M	-31.1M	-14M	-62.1M	-4M	-7.9M
Share repurchases	—	-3.2M	-5M	-7.6M	-537K	-5.7M	-9.3M	-10.2M	-937K	-15.4M
Financing cash flow	5.3M	-15.6M	-15.7M	160.2M	-62.5M	123.2M	-28.7M	1.9M	134.1M	569.3M
Net change in cash	1.5M	68.5M	-15.9M	-2.8M	189M	185.8M	30.8M	9.8M	12.4M	155.1M
Free cash flow	-2.1M	49.7M	24.3M	12.6M	45M	51.1M	59.2M	39.7M	44.2M	104.5M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	28M	-94K	16.9M	21.9M	19M	-7.8M	6.2M	10.2M	1.1M	6.6M	13.1M	18.5M
Depreciation & amortization	4.3M	4.9M	5.1M	7.4M	7.3M	8.1M	6.8M	6.9M	15.6M	16.4M	15.5M	15.5M
Stock-based compensation	5.7M	8.7M	5.7M	7.4M	6.2M	15.2M	7.8M	11.7M	7.7M	11.4M	9.9M	11.8M
Change in working capital	-2.9M	13.1M	-18.9M	-27.2M	-7.7M	-17.9M	-10.7M	—	—	-32.6M	23.9M	—
Operating cash flow	37.1M	26M	12M	9.7M	29.9M	2.6M	12.7M	90.9M	10M	-2.9M	68.1M	32.7M
Capital expenditure	-4.1M	-7.1M	-369K	-2.8M	-2.3M	-2.5M	-3.1M	—	—	—	—	—
Investing cash flow	-34.9M	-11.4M	-71M	-79.9M	-5.7M	-33.3M	-2.5M	343K	-531.9M	2M	1.2M	1.4M
Dividends paid	-1.4M	-59.8M	-95K	-1.8M	-218K	-1.9M	-5.5M	-778K	-96K	-1.6M	-104K	-95K
Share repurchases	-150K	-503K	0	0	-717K	-220K	-1.3M	—	—	—	-2.9M	100K
Financing cash flow	-510K	11.7M	106.4M	47.3M	-3.7M	-15.8M	-44.5M	-8.6M	648.5M	-10.9M	-16M	-104.1M
Net change in cash	1.7M	26.3M	47.3M	-23M	20.5M	-46.5M	-34.3M	82.6M	126.5M	-11.8M	53.3M	-69.9M
Free cash flow	11.3M	12.2M	5.6M	20.4M	31.7M	-13.5M	13.6M	89.5M	7.4M	-6M	64.1M	28.9M

Astrana Health Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement