Astrana Health Inc (ASTH)
Activity ratios
Short-term
Turnover ratios
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Inventory turnover | — | — | — | — | — |
| Receivables turnover | 114.04 | 0.02 | 8.24 | 12.83 | 5.62 |
| Payables turnover | — | — | 68.91 | 61.82 | 74.24 |
| Working capital turnover | 5.63 | 0.01 | 2.72 | 3.48 | 2.49 |
Based on the provided data for Astrana Health Inc over the years 2019 to 2023, the following analysis can be made regarding the activity ratios:
1. Receivables Turnover:
- Astrana Health's receivables turnover has varied significantly over the years, ranging from 0.02 in 2022 to 114.04 in 2023.
- A high receivables turnover ratio indicates that the company is efficient in collecting payments from its customers, with a drastic improvement in 2023 compared to previous years.
2. Payables Turnover:
- The payables turnover ratio, which is not available for all years, shows how many times a company pays off its accounts payable during a period.
- The significant figures recorded in 2021, 2020, and 2019 (68.91, 61.82, and 74.24, respectively) imply that Astrana Health effectively manages its accounts payable by paying them off multiple times in a year.
3. Working Capital Turnover:
- The working capital turnover ratio demonstrates how efficiently a company is utilizing its working capital to generate revenue.
- Astrana Health's working capital turnover has shown an increasing trend from 2019 to 2023, indicating an improvement in how efficiently the company is using its working capital to drive sales.
In summary, Astrana Health Inc has shown positive trends in its activity ratios, with improvements in receivables turnover and working capital turnover, showcasing better management of receivables and working capital. Additionally, the company's effective management of accounts payable, as indicated by payables turnover figures, reflects sound financial practices within the organization.
Average number of days
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Days of inventory on hand (DOH) | days | — | — | — | — | — |
| Days of sales outstanding (DSO) | days | 3.20 | 24,005.62 | 44.29 | 28.45 | 64.97 |
| Number of days of payables | days | — | — | 5.30 | 5.90 | 4.92 |
The Days of Sales Outstanding (DSO) for Astrana Health Inc have shown a significant improvement from 64.97 days in 2019 to 3.20 days in 2023. This indicates that the company is collecting its accounts receivable more efficiently, reducing the average number of days it takes to collect payments from customers.
On the other hand, the Days of Inventory on Hand (DOH) data is missing, preventing a complete analysis of the efficiency in managing inventory levels. Without this information, it is difficult to assess how quickly the company is converting its inventory into sales.
The Number of Days of Payables has remained relatively stable over the years, with 5.30 days in 2021, 5.90 days in 2020, and 4.92 days in 2019. This suggests that Astrana Health Inc is maintaining consistent payment terms with its suppliers.
Overall, while improvements in DSO are positive, missing data on DOH limits a comprehensive evaluation of Astrana Health Inc's overall activity ratios. This company may benefit from improving transparency in reporting all activity ratios to provide a more accurate assessment of its operational efficiency.
Long-term
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Fixed asset turnover | 249.96 | 0.02 | 14.87 | 26.39 | 47.80 |
| Total asset turnover | 1.47 | 0.00 | 0.91 | 0.95 | 0.76 |
The long-term activity ratios of Astrana Health Inc provide insights into how effectively the company is utilizing its fixed assets and total assets to generate revenue over the years.
1. Fixed Asset Turnover:
- In 2023, the fixed asset turnover ratio significantly increased to 249.96 from 0.02 in 2022, indicating a substantial improvement in the efficiency of utilizing fixed assets to generate sales.
- Compared to 2021 and 2020, where the ratios were 14.87 and 26.39 respectively, the company achieved a remarkable enhancement in 2023.
- The sharp increase suggests that Astrana Health Inc effectively managed its fixed assets in 2023, potentially through better utilization or strategic investments.
2. Total Asset Turnover:
- The total asset turnover ratio depicts how efficiently the company is using all its assets to generate revenue.
- In 2023, the total asset turnover ratio increased to 1.47 from an insignificant 0.00 in 2022, indicating a substantial improvement in asset utilization efficiency.
- Compared to 2021 and 2020, with ratios of 0.91 and 0.95 respectively, the company showed better efficiency in generating sales with its total assets in 2023.
- The increase in total asset turnover reaffirms that Astrana Health Inc effectively managed its assets in 2023 to generate more revenue compared to the previous years.
Overall, the significant improvements in both fixed asset turnover and total asset turnover ratios in 2023 suggest that Astrana Health Inc enhanced its efficiency in utilizing assets to drive sales, reflecting positively on its operational performance and potential future growth.