Astrana Health Inc (ASTH)

Debt-to-equity 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-equity ratio		0.56	0.42	0.35	0.36	0.37	0.37	0.39	0.41	0.39	0.02	0.42	0.46	0.65	0.70	0.99	1.11	1.17	1.21	1.23	0.00

March 31, 2024 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $368,448K ÷ $653,490K
= 0.56

The debt-to-equity ratio for Astrana Health Inc has fluctuated over the past few quarters. In the most recent quarter, as of March 31, 2024, the ratio stood at 0.56, indicating that the company had more debt relative to equity. This represented an increase from the previous quarter's ratio of 0.42.

Looking further back, there was a noticeable increase in the ratio in the second half of 2020, with ratios exceeding 1 in the later quarters of 2020 and early 2021. This suggests that the company was highly leveraged during that period.

It is important to note the significant change in the debt-to-equity ratio from 0.02 in the first quarter of 2022 to 0.42 in the last quarter of 2022, indicating a substantial increase in the company's debt relative to equity over this period.

Overall, the trend in Astrana Health Inc's debt-to-equity ratio shows fluctuations, with periods of high leverage followed by potential efforts to reduce debt levels. This metric is crucial for assessing the company's financial risk and its ability to meet its debt obligations.