Astrana Health Inc (ASTH)

Quick ratio

		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	US$ in thousands	334,796	293,807	273,941	293,921	274,613	288,027	184,016	234,223	237,942	233,097	204,768	177,287	205,876	193,470	166,082	152,441	80,892	103,189	230,299	52,726
Short-term investments	US$ in thousands	2,722	2,846	3,917	5,589	4,638	11,167	41,481	53,890	60,693	81,810	185,558	307,106	67,000	67,753	118,356	117,745	117,139	116,609	1,222	1,176
Receivables	US$ in thousands	1,783	11,992	1,501	1,201	156,782	125,750	214,617	174,655	148,950	93,631	82,152	93,869	87,838	60,665	70,188	99,260	108,210	98,950	79,392	100,090
Total current liabilities	US$ in thousands	355,272	218,674	202,957	185,794	164,954	148,610	156,191	185,238	160,436	115,371	116,759	128,088	122,553	114,992	131,461	152,507	106,605	105,424	105,195	78,338
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

March 31, 2024 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($334,796K + $2,722K + $1,783K) ÷ $355,272K
= 0.96

The quick ratio of Astrana Health Inc has ranged from 0.96 to 4.51 over the past 20 quarters. A quick ratio above 1 suggests that the company has an adequate level of liquid assets to cover its short-term obligations. In this context, Astrana Health Inc generally maintained a healthy quick ratio, with values consistently above 1.

The quick ratio peaked at 4.51 in the fourth quarter of 2021, indicating a strong ability to meet short-term liabilities with liquid assets. This suggests a comfortable liquidity position at that time. However, the ratio declined in subsequent quarters but remained above 1, indicating continued liquidity strength.

It's worth noting that the quick ratio saw a significant decrease in the first quarter of 2023 to 0.96, possibly indicating a temporary liquidity challenge or a change in the company's short-term asset composition. However, the ratio improved gradually in the following quarters.

Overall, the trend in Astrana Health Inc's quick ratio shows a generally healthy liquidity position throughout the analyzed period, with occasional fluctuations that should be further investigated to understand the underlying reasons and potential implications for the company's financial health.