Astrana Health (ASTH) financial statements
Astrana Health reported revenue of $3.2B in fiscal 2025, up 56.2% a year over 9 years.
Net income was $22M and the operating margin 2.5%, against -18.3% in 2017.
Free cash flow was $104M, and the company returned $8M in dividends and $26M in net buybacks.
The diluted share count rose 723% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Astrana Health's 10-K filings with the SEC.
| Fiscal year | 2017 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $57M | $356M | $520M | $561M | $687M | $774M | $1.1B | $1.4B | $2.0B | $3.2B |
| Cost of revenue | $49M | $273M | $361M | $468M | $539M | $596M | $945M | $1.2B | $1.8B | $2.8B |
| Gross profit | $9M | $83M | $159M | $93M | $148M | $178M | $199M | $215M | $271M | $342M |
| Selling, general and admin | $19M | $26M | $43M | $41M | $49M | $62M | $78M | $113M | $154M | $217M |
| Operating income | -$11M | $35M | $88M | $32M | $81M | $98M | $104M | $85M | $89M | $79M |
| Interest expense | $82,905 | $79,689 | $561,000 | $5M | $9M | $5M | $8M | $16M | $33M | $50M |
| Pre-tax income | -$9M | $50M | $83M | $26M | $178M | $78M | $87M | $90M | $81M | $40M |
| Income tax | -$47,495 | $4M | $22M | $8M | $56M | $32M | $41M | $32M | $31M | $16M |
| Net income | -$9M | $26M | $11M | $14M | $38M | $69M | $45M | $61M | $43M | $22M |
| EPS (diluted) | -$1.49 | $0.90 | $0.29 | $0.39 | $1.01 | $1.52 | $0.99 | $1.29 | $0.90 | $0.46 |
| Diluted shares | 6M | 29M | 38M | 36M | 37M | 45M | 46M | 47M | 48M | 49M |
| Gross margin | 15.1% | 23.3% | 30.5% | 16.6% | 21.5% | 23.0% | 17.4% | 15.5% | 13.3% | 10.7% |
| Operating margin | -18.3% | 9.9% | 17.0% | 5.8% | 11.7% | 12.7% | 9.1% | 6.1% | 4.4% | 2.5% |
| Net margin | -15.6% | 7.2% | 2.1% | 2.5% | 5.5% | 8.9% | 3.9% | 4.4% | 2.1% | 0.7% |
Balance sheet
Fiscal years, from Astrana Health's 10-K filings with the SEC.
| Fiscal year | 2017 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $63M | $101M | $108M | $220M | $261M | $287M | $294M | $296M | $291M | $429M |
| Receivables | $6M | $8M | $8M | $11M | $7M | $11M | $50M | — | $276M | $374M |
| Total current assets | $15M | $144M | $173M | $329M | $339M | $404M | $428M | $462M | $638M | $863M |
| Property, plant and equipment | $1M | $14M | $13M | $12M | $30M | $53M | $109M | $7M | $14M | $57M |
| Goodwill | $2M | $190M | $186M | $239M | $232M | $246M | $269M | $279M | $419M | $865M |
| Total assets | $21M | $491M | $513M | $729M | $817M | $867M | $966M | $933M | $1.4B | $2.2B |
| Total current liabilities | $15M | $110M | $72M | $105M | $115M | $115M | $149M | $219M | $366M | $615M |
| Long-term debt | — | — | $0 | $232M | $230M | $183M | $203M | $259M | $425M | $991M |
| Total liabilities | $20M | $154M | $106M | $368M | $372M | $357M | $408M | $523M | $841M | $1.7B |
| Shareholders' equity | -$353,877 | $160M | $181M | $192M | $331M | $448M | $543M | $614M | $713M | $779M |
| Net debt | -$63M | -$100M | -$107M | $138M | $48M | -$49M | -$84M | -$15M | $146M | $609M |
Cash flow
Fiscal years, from Astrana Health's 10-K filings with the SEC.
| Fiscal year | 2017 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$8M | $52M | $25M | $14M | $46M | $70M | $82M | $68M | $52M | $115M |
| Capital spending | $297,561 | $2M | $1M | $1M | $1M | $19M | $23M | $29M | $8M | $10M |
| Free cash flow | -$8M | $50M | $24M | $13M | $45M | $51M | $59M | $40M | $44M | $104M |
| Stock-based compensation | $1M | $3M | $1M | $2M | $3M | $7M | $16M | $22M | $35M | $39M |
| Dividends paid | — | $10M | $18M | $62M | $51M | $31M | $14M | $62M | $4M | $8M |
| Share buybacks (net) | — | -$3M | -$5M | -$8M | -$537,000 | -$6M | -$9M | -$10M | -$900,000 | -$26M |
| Net borrowing | — | $5M | $8M | $248M | $0 | — | — | $80M | $153M | $624M |
| Free cash flow margin | -14.7% | 14.0% | 4.7% | 2.3% | 6.5% | 6.6% | 5.2% | 2.9% | 2.2% | 3.3% |
| Dividends per share | — | $0.36 | $0.47 | $1.70 | $1.37 | $0.68 | $0.31 | $1.32 | $0.08 | $0.16 |
Questions
What was Astrana Health's revenue in 2025?
$3.2B in fiscal 2025, from its 10-K filing.
How much free cash flow does Astrana Health generate?
$104M in fiscal 2025 (operating cash flow minus capital spending).
From Astrana Health's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.