Astrana Health Inc (ASTH)
Working capital 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 current assets | US$ in thousands | 461,507 | 428,125 | 398,782 | 338,577 | 329,068 |
| Total current liabilities | US$ in thousands | 218,674 | 148,610 | 115,371 | 114,992 | 105,424 |
| Working capital turnover | 5.63 | 0.01 | 2.72 | 3.48 | 2.49 |
December 31, 2023 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $1,367,530K ÷ ($461,507K – $218,674K)
= 5.63
The working capital turnover ratio measures how efficiently a company is utilizing its working capital to generate revenue. Astrana Health Inc's working capital turnover has varied significantly over the past five years.
In 2023, the working capital turnover ratio was 5.63, indicating that Astrana Health Inc generated $5.63 of revenue for every dollar of working capital invested. This represents a significant improvement from 2022 when the ratio was only 0.01, suggesting a drastic increase in efficiency in managing and utilizing its working capital in generating revenue.
In 2021 and 2020, Astrana Health Inc's working capital turnover ratios were 2.72 and 3.48 respectively, showing relatively consistent and efficient use of working capital to generate revenue. However, in 2019, the ratio was lower at 2.49, indicating a slightly less efficient utilization of working capital compared to the following years.
Overall, Astrana Health Inc's working capital turnover ratio has shown notable improvement in 2023 compared to previous years, reflecting enhanced efficiency in generating revenue from its working capital.
Peer comparison
Dec 31, 2023