Astrana Health Inc (ASTH)

Liquidity ratios

Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019
Current ratio 1.52 2.11 2.35 2.50 2.77 2.88 2.84 2.53 2.78 3.46 3.66 3.68 3.02 2.94 2.79 2.50 2.98 3.12 3.05 2.14
Quick ratio 0.96 1.41 1.38 1.62 2.64 2.86 2.82 2.50 2.79 3.54 4.05 4.51 2.94 2.80 2.70 2.42 2.87 3.02 2.96 1.97
Cash ratio 0.95 1.36 1.37 1.61 1.69 2.01 1.44 1.56 1.86 2.73 3.34 3.78 2.23 2.27 2.16 1.77 1.86 2.08 2.20 0.69

The liquidity ratios of Astrana Health Inc indicate the company's ability to meet its short-term obligations effectively.

The current ratio has shown consistent fluctuations over the periods, ranging from 1.52 to 3.68. While the ratio has generally been above 2.0, suggesting that the company has more than enough current assets to cover its current liabilities, the downward trend in recent quarters may indicate a potential decrease in liquidity or excessive liabilities relative to assets.

The quick ratio, considered a more conservative measure of liquidity as it excludes inventory from current assets, has also displayed variability over time, ranging from 0.96 to 4.51. The highest ratios suggest that the company could meet its short-term obligations without relying on selling inventory, providing a more conservative view of the company's liquidity position.

The cash ratio, which is the most stringent liquidity measure as it only considers cash and cash equivalents in relation to current liabilities, has fluctuated between 0.69 and 3.78. Higher cash ratios indicate a stronger ability to cover short-term liabilities solely with cash on hand.

Overall, while the company has generally maintained satisfactory liquidity positions over the periods analyzed, the fluctuations in the ratios indicate potential fluctuations in working capital and liquidity management. It would be important for Astrana Health Inc to closely monitor its liquidity ratios to ensure it can effectively meet its financial obligations in the short term.

Additional liquidity measure

Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019
Cash conversion cycle days 0.46 3.19 0.41 0.48 47.04 40.21 65.05 61.68 58.26 38.82 26.44 41.85 34.59 22.51 27.04 41.53 58.19 59.60 56.10 69.12

The cash conversion cycle of Astrana Health Inc has fluctuated significantly over the past few quarters. The company's cash conversion cycle measures the time it takes for Astrana Health to convert its investment in inventory into cash receipts from sales.

In the latest quarter, ending on March 31, 2024, the cash conversion cycle was exceptionally low at 0.46 days, indicating that the company is efficiently managing its inventory, collecting receivables promptly, and paying its payables in a timely manner. This suggests that Astrana Health is able to generate cash quickly from its operational activities.

However, looking back at the previous quarters, there have been instances of longer cash conversion cycles, such as 47.04 days in the first quarter of 2023. This prolonged cycle could be due to higher inventory levels, delays in collecting receivables, or extending payment terms to suppliers. It's important for the company to monitor and improve these aspects to ensure optimal cash flow management.

Overall, analyzing the trend of the cash conversion cycle provides insight into Astrana Health's efficiency in managing its working capital and liquidity. It is essential for the company to strive for consistent improvement in this metric to support sustainable growth and financial health.