Is the business good?
How good a business is ASTH?
Astrana Health, Inc. earns 5.1% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
5.1%
Return on invested capital · cost of capital 9.0% · 3.9 points below what the capital costs: growth destroys value
- Operating margin
- 2.5%
Operating margin · Medical Care Facilities median 8.9% · 12 months to Q1 2026
- Share count, year on year
- +0.42%
Share count, year on year · flat: no meaningful dilution
- Gross margin
- 11%
Gross margin
| Year | Operating margin |
|---|---|
| FY2020 | 12% |
| FY2021 | 13% |
| FY2022 | 9.1% |
| FY2023 | 6.1% |
| FY2024 | 4.4% |
| FY2025 | 2.5% |
Details›
- Gross margin12 months to Q1 2026
- 11%
- Operating margin12 months to Q1 2026
- 2.5%
- Net margin12 months to Q1 2026
- 0.86%
- Free cash flow margin
- 4.4%
- Revenue, trailing twelve months
- $3.53B
- Free cash flow, trailing twelve months
- $155M
- Net income, trailing twelve months
- $30M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 5.1%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.