Astrana Health Inc (ASTH)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,367,530 | 1,912 | 771,566 | 778,213 | 555,885 |
| Total assets | US$ in thousands | 933,361 | 966,213 | 852,363 | 817,486 | 728,713 |
| Total asset turnover | 1.47 | 0.00 | 0.91 | 0.95 | 0.76 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $1,367,530K ÷ $933,361K
= 1.47
Total asset turnover measures how efficiently a company generates revenue from its total assets. An increasing trend in total asset turnover indicates an improvement in asset utilization and efficiency.
In the case of Astrana Health Inc, the total asset turnover has shown a notable improvement over the years. The company's total asset turnover was 0.76 in 2019, then increased to 0.95 in 2020, further rose to 0.91 in 2021, and significantly spiked to 1.47 in 2023. This upward trend suggests that Astrana Health Inc has been able to generate more revenue from its assets, indicating improved efficiency in asset management and utilization.
The sharp increase in total asset turnover from 2021 to 2023 is particularly noteworthy, as it signifies a substantial enhancement in the company's ability to generate revenue relative to its total asset base. This can be attributed to potentially better asset management, utilization of resources, or increased sales volume.
Overall, the increasing trend in Astrana Health Inc's total asset turnover indicates positive developments in the company's operational efficiency and financial performance, showcasing its ability to generate more revenue from its assets over the years.