Fundamentals Hub
▼ FY 2025 Summary Analysis
Annual report ending Dec 31, 2025Overview and Growth
In fiscal 2025, Astrana Health, Inc. recorded $3.18B of revenue, net income of $22.49M, and an operating cash inflow of $114.60M. At $3.18B, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. The top line expanded 56.4% from $2.03B in fiscal 2024, increasing the company’s operating scale. On a per-share basis, diluted EPS was $0.46, which connects the reported earnings outcome with the company’s diluted share count. The per-share result recorded a 48.9% decrease from fiscal 2024 diluted EPS of $0.90. Asset turnover was 1.43x, relating the company’s annual revenue directly to the total assets reported at the period end.Profitability
Gross profit was $341.53M, representing the portion of revenue remaining after the reported cost of revenue and before operating expenses. Gross profit represented 10.7% of revenue, showing how much of the top line remained after direct costs. Operations produced $78.53M of income after the reported operating expense base, before the remaining non-operating and tax effects. The operating result equaled 2.5% of revenue, placing the absolute operating-income figure in the context of the company’s sales base. After all reported below-operating-line items, the company recorded net income of $22.49M for the fiscal year. The final earnings result represented 0.7% of revenue, connecting the absolute net income figure with the company’s top-line scale. The earnings statement records $39.61M of pretax income, the profit base against which the reported tax provision can be assessed. The pretax margin was 1.2%, relating income before taxes directly to revenue. The reported income-tax provision was $15.53M, the amount recognized between pretax income and the final net-income result. Relative to pretax income, the tax provision measured 39.2%, quantifying the portion of pre-tax earnings paid in income tax.Liquidity and Capital Structure
Current assets were $863.31M against $615.27M of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. Current assets covered current liabilities by 1.4x, leaving a positive buffer for near-term obligations. Reported cash and equivalents were $429.47M, separating immediately recognizable cash resources from the rest of the current-asset base. The cash balance equaled 69.8% of current liabilities, showing how much near-term coverage came from cash alone. Borrowings totaled $1.04B, adding a fixed financing obligation alongside the company’s equity capital. The debt-to-equity relationship was 1.31x, showing how much debt the company carried for each unit of book equity. Relative to total assets, debt measured 46.8%, showing how much of the asset base was matched by borrowing. Relative to total assets, liabilities measured 74.8%, complementing the separate equity-based view of the company’s capital structure. The cash-to-assets relationship was 19.4%, comparing reported cash and equivalents with the full positive asset balance. Compared with $1.35B in fiscal 2024, the current asset base moved 63.8% and finished higher.Cash Flow and Earnings Quality
Operating activities produced a cash inflow of $114.60M, giving the cash-flow counterpart to the accrual-based profit measures reported for the year. Against net income, operating cash flow measured 5.1x, showing the relationship between accrual earnings and operating cash. Capital spending was $10.11M, absorbing part of the cash generated from operations before free cash flow. Relative to operating cash flow, capital expenditures measured 8.8%, connecting investment intensity with the company’s cash-generation base. The combination of operating cash flow and capital spending produced $104.49M of positive free cash flow for the period. Relative to revenue, free cash flow equaled 3.3%, showing how much sales converted into cash after investment. Measured against total assets, free cash flow represented 4.7%, showing the cash productivity of the company’s assets.
Based on the annual report for the fiscal year ending Dec 31, 2025.
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