Astrana Health Inc (ASTH)
Debt-to-assets 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 368,448 | 258,939 | 206,213 | 205,136 | 204,944 | 203,389 | 199,150 | 199,068 | 183,101 | 7,114 | 182,813 | 182,705 | 226,937 | 230,211 | 226,051 | 230,455 | 230,105 | 232,172 | 234,149 | — |
| Total assets | US$ in thousands | 1,226,280 | 933,361 | 1,073,260 | 1,027,180 | 992,628 | 966,213 | 943,406 | 951,064 | 922,659 | 852,363 | 871,294 | 895,717 | 843,141 | 817,486 | 814,273 | 833,217 | 724,415 | 728,713 | 750,244 | 568,330 |
| Debt-to-assets ratio | 0.30 | 0.28 | 0.19 | 0.20 | 0.21 | 0.21 | 0.21 | 0.21 | 0.20 | 0.01 | 0.21 | 0.20 | 0.27 | 0.28 | 0.28 | 0.28 | 0.32 | 0.32 | 0.31 | 0.00 |
March 31, 2024 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $368,448K ÷ $1,226,280K
= 0.30
The debt-to-assets ratio of Astrana Health Inc has shown some fluctuations over the past few quarters. The ratio has ranged from 0.00 to 0.32 during the period from Jun 30, 2019, to Mar 31, 2024.
The ratio indicates the proportion of the company's assets that are financed through debt. A lower ratio suggests that the company is relying less on debt to fund its operations and investments, which can be considered positive as it implies lower financial risk.
Astrana Health's debt-to-assets ratio increased from 0.01 in Dec 31, 2021, to 0.30 in Mar 31, 2024, indicating a significant rise in the utilization of debt to support its asset base. This increase may be a signal that the company has taken on more debt in recent periods to finance its growth or capital expenditure.
On the other hand, the ratio fluctuated between 0.19 to 0.28 in the preceding quarters, suggesting some variability in the company's debt management strategy. While the debt-to-assets ratio is just one financial metric and should be considered alongside other factors when evaluating a company's financial health, monitoring its trend can provide insights into its capital structure and risk profile.
Peer comparison
Mar 31, 2024