Astrana Health Inc (ASTH)

Debt-to-capital 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 stockholders’ equity	US$ in thousands	653,490	614,218	593,714	566,012	548,293	542,561	510,438	479,966	472,638	448,167	435,237	401,360	349,091	330,824	228,404	207,023	197,080	191,549	190,734	185,400
Debt-to-capital ratio		0.36	0.30	0.26	0.27	0.27	0.27	0.28	0.29	0.28	0.02	0.30	0.31	0.39	0.41	0.50	0.53	0.54	0.55	0.55	0.00

March 31, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $368,448K ÷ ($368,448K + $653,490K)
= 0.36

The debt-to-capital ratio of Astrana Health Inc has fluctuated over the past several quarters, indicating varying levels of debt relative to the company's total capital. The ratio ranged from a low of 0.02 in the first quarter of 2022 to a high of 0.55 in the last quarter of 2019.

In recent quarters, the trend has shown an overall increase in the debt-to-capital ratio, reaching 0.36 as of March 31, 2024. This suggests that the company has been relying more on debt financing compared to its total capital. It is crucial for investors and stakeholders to monitor this trend as a higher debt-to-capital ratio can indicate increased financial risk and potential challenges in meeting debt obligations.

Overall, a sustained increase in the debt-to-capital ratio may raise concerns about Astrana Health Inc's financial health and stability, highlighting the importance of careful financial management and monitoring of debt levels.