Astrana Health, Inc. (ASTH) Balance Sheet
ASTH balance sheet, 2025
December 31, 2025 · U.S. dollars$2.22B assets = $1.66B liabilities + $558.3M equity
Both columns are drawn to the same scale: what ASTH owns equals what it owes plus shareholders’ equity. Hover a block for its value.
ASTH financial health
Descriptive bands, not a rating. Fiscal 2025.
ASTH balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $20.6M2016 | $2.22B2025 | +68.2%/yr | |
| Total liabilities | $20.4M2016 | $1.66B2025 | +63.1%/yr | |
| Shareholders’ equity | $270,3682016 | $779.3M2025 | +142.3%/yr | |
| Cash & short-term investments | $8.7M2016 | $429.5M2025 | +54.3%/yr | |
| Total debt | $9.9M2016 | $1.08B2025 | +68.4%/yr | |
| Net cash (debt) | −$1.2M2016 | −$648.7M2025 | −$647.4M | |
| Working capital | $379,1462016 | $248.0M2025 | +$247.7M | |
| Book value per share | $5.582017 | $15.782025 | +13.9%/yr | |
| Current ratio | 1.032016 | 1.402025 | +0.38 | |
| Debt / equity | 36.592016 | 1.382025 | −35.20 | |
| Shares outstanding | 28.7M2017 | 49.4M2025 | +7.0%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
ASTH assets
ASTH liabilities and equity
ASTH debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
ASTH balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $429.5M | $290.8M | $296.3M | $293.6M | $286.5M | $261.2M | $219.7M | $108.0M | $120.9M | $8.7M |
| Cash & equivalents | $429.5M | $288.5M | $293.8M | $288.0M | $233.1M | $193.5M | $103.2M | $106.9M | $119.8M | $8.7M |
| Short-term investments | — | $2.4M | $2.5M | $5.6M | $53.4M | $67.7M | $116.5M | $1.1M | $1.1M | $1.1M |
| Receivables | $407.6M | $324.8M | $147.8M | $119.7M | $99.3M | $60.6M | $99.0M | $57.5M | $20.1M | $6.0M |
| Inventory | $0 | $0 | $0 | $0 | −$67.2M | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $26.3M | $22.9M | $17.4M | $14.8M | $85.9M | $16.8M | $10.4M | $7.4M | $3.1M | $269,168 |
| Total current assets | $863.3M | $638.5M | $461.5M | $428.1M | $404.5M | $338.6M | $329.1M | $172.9M | $144.2M | $14.9M |
| Property, plant & equipment (net) | $94.4M | $46.9M | $44.6M | $129.0M | $68.6M | $48.5M | $26.4M | $12.7M | $13.8M | $1.2M |
| Goodwill & intangible assets | $1.13B | $537.4M | $350.5M | $345.9M | $329.2M | $326.0M | $341.5M | $272.7M | $293.4M | $3.5M |
| Long-term investments | $28.5M | $48.2M | $32.2M | $40.3M | $42.6M | $47.9M | $28.4M | $52.4M | $36.9M | $34.8M |
| Other non-current assets | $97.5M | $83.9M | $44.6M | $22.9M | $22.4M | $56.5M | $3.3M | $2.4M | $2.4M | $0 |
| Total assets | $2.22B | $1.35B | $933.4M | $966.2M | $867.4M | $817.5M | $728.7M | $513.0M | $490.6M | $20.6M |
| Liabilities | ||||||||||
| Accounts payable | $44.8M | $15.2M | $9.1M | $10.5M | $5.5M | $9.6M | $6.9M | $4.5M | $27.2M | $3.6M |
| Short-term debt | $55.7M | $15.3M | $24.8M | $4.8M | $3.9M | $14.2M | $12.6M | $141,998 | $5.6M | $4.9M |
| Deferred revenue | $2.7M | $1.6M | $744,000 | $531,000 | $16.8M | $13.0M | $8.9M | $9.0M | $250,000 | $4.3M |
| Total current liabilities | $615.3M | $365.6M | $218.7M | $148.6M | $114.7M | $115.0M | $105.4M | $72.0M | $109.6M | $14.5M |
| Long-term debt | $990.9M | $425.3M | $258.9M | $203.4M | $182.9M | $230.2M | $232.2M | $517,261 | $619,000 | $5.0M |
| Lease obligations | $39.4M | $37.2M | $42.6M | $25.4M | $17.3M | $19.5M | $14.9M | $517,261 | $717,739 | — |
| Other long-term liabilities | $54.1M | $49.8M | $45.0M | $55.7M | $59.1M | $27.1M | $30.1M | $33.8M | $44.1M | $831,085 |
| Total liabilities | $1.66B | $840.7M | $522.6M | $407.7M | $356.7M | $372.3M | $367.7M | $106.3M | $154.3M | $20.4M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $49,000 | $48,000 | $47,000 | $47,000 | $45,000 | $42,000 | $36,000 | $34,578 | $88.0M | $26.3M |
| Retained earnings (deficit) | $308.4M | $286.3M | $243.1M | $182.4M | $137.2M | $69.8M | $31.9M | $17.8M | $1.7M | −$37.7M |
| Treasury stock | — | — | — | — | — | — | — | — | $0 | $0 |
| Accumulated other comprehensive income | — | — | — | — | — | — | −$16.0M | −$14.0M | −$7.1M | −$697,959 |
| Minority interest | −$221.0M | −$198.6M | −$203.4M | $2.2M | $5.9M | $87,000 | $786,199 | $998,320 | $4.2M | $624,245 |
| Total shareholders' equity | $779.3M | $712.7M | $614.2M | $542.6M | $448.2M | $330.8M | $191.5M | $180.5M | $159.9M | $270,368 |
| Key figures | ||||||||||
| Total debt | $1.08B | $471.8M | $321.0M | $229.4M | $201.0M | $260.6M | $256.6M | $13.7M | $6.3M | $9.9M |
| Net cash (debt) | −$648.7M | −$181.0M | −$24.7M | $64.2M | $85.5M | $610,000 | −$36.8M | $94.4M | $114.7M | −$1.2M |
| Working capital | $248.0M | $272.9M | $242.8M | $279.5M | $289.7M | $223.6M | $223.6M | $100.8M | $34.6M | $379,146 |
| Tangible book value | −$355.6M | $175.3M | $263.7M | $196.6M | $118.9M | $4.8M | −$150.0M | −$92.1M | −$133.4M | −$3.3M |
| Book value per share | $15.78 | $14.78 | $13.05 | $11.90 | $9.87 | $8.83 | $5.26 | $4.76 | $5.58 | — |
| Shares outstanding | 49.4M | 48.2M | 47.1M | 45.6M | 45.4M | 37.4M | 36.4M | 37.9M | 28.7M | — |
| Current ratio | 1.40 | 1.75 | 2.11 | 2.88 | 3.53 | 2.94 | 3.12 | 2.40 | 1.32 | 1.03 |
| Quick ratio | 1.36 | 1.68 | 2.03 | 2.78 | 3.36 | 2.80 | 3.02 | 2.30 | 1.29 | 1.01 |
| Debt / equity | 1.38 | 0.66 | 0.52 | 0.42 | 0.45 | 0.79 | 1.34 | 0.08 | 0.04 | 36.59 |
| Equity / assets | 35.1% | 52.6% | 65.8% | 56.2% | 51.7% | 40.5% | 26.3% | 35.2% | 32.6% | 1.3% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $400.8M | $478.4M | $429.5M | $463.4M | $342.1M | $260.9M | $290.8M | $350.3M | $327.7M | $337.3M | $296.3M | $277.0M |
| Cash & equivalents | $400.8M | $478.4M | $429.5M | $462.2M | $339.7M | $258.5M | $288.5M | $348.0M | $325.3M | $334.8M | $293.8M | $273.9M |
| Short-term investments | — | — | — | $1.2M | $2.4M | $2.4M | $2.4M | $2.4M | $2.4M | $2.5M | $2.5M | $3.0M |
| Receivables | $492.5M | $500.1M | $407.6M | $397.0M | $365.3M | $328.6M | $324.8M | $226.1M | $225.2M | $184.2M | $147.8M | $185.3M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $25.9M | $25.6M | $26.3M | $23.2M | $21.8M | $23.7M | $22.9M | $20.5M | $16.2M | $15.7M | $17.4M | $14.0M |
| Total current assets | $919.2M | $1.00B | $863.3M | $883.6M | $729.2M | $613.3M | $638.5M | $597.0M | $569.1M | $537.2M | $461.5M | $476.2M |
| Property, plant & equipment (net) | $101.8M | $93.5M | $94.4M | $90.1M | $48.4M | $47.5M | $46.9M | $45.3M | $39.1M | $47.1M | $44.6M | $150.1M |
| Goodwill & intangible assets | $1.13B | $1.13B | $1.13B | $1.15B | $522.7M | $528.3M | $537.4M | $518.8M | $525.8M | $530.0M | $350.5M | $349.7M |
| Long-term investments | $27.8M | $27.3M | $28.5M | $27.4M | $47.4M | $46.9M | $48.2M | $43.5M | $42.2M | $42.3M | $32.2M | $47.3M |
| Other non-current assets | $103.0M | $102.1M | $97.5M | $87.8M | $94.8M | $95.2M | $83.9M | $80.8M | $76.2M | $69.7M | $44.6M | $49.9M |
| Total assets | $2.28B | $2.36B | $2.22B | $2.24B | $1.44B | $1.33B | $1.35B | $1.29B | $1.25B | $1.23B | $933.4M | $1.07B |
| Liabilities | ||||||||||||
| Accounts payable | $245.9M | $54.3M | $44.8M | $58.5M | $14.3M | $14.9M | $15.2M | $36.9M | $38.2M | $84.9M | $9.1M | $9.2M |
| Short-term debt | $62.8M | $55.4M | $55.7M | $55.0M | $17.8M | $17.9M | $15.3M | $20.8M | $22.5M | $26.4M | $24.8M | $7.2M |
| Deferred revenue | — | — | $2.7M | — | — | $686,000 | $1.6M | $2.2M | $2.6M | $3.0M | $744,000 | $822,000 |
| Total current liabilities | $747.6M | $745.4M | $615.3M | $629.9M | $459.7M | $361.3M | $365.6M | $312.9M | $309.8M | $355.3M | $218.7M | $203.0M |
| Long-term debt | $882.6M | $979.8M | $990.9M | $1.00B | $401.1M | $403.9M | $425.3M | $423.1M | $425.0M | $368.4M | $258.9M | $206.2M |
| Lease obligations | $42.9M | $37.6M | $39.4M | $37.4M | $34.0M | $35.0M | $37.2M | $37.7M | $33.4M | $44.4M | $42.6M | $26.4M |
| Other long-term liabilities | $53.2M | $56.2M | $54.1M | $50.5M | $43.6M | $48.4M | $49.8M | $42.2M | $38.9M | $50.1M | $45.0M | $48.5M |
| Total liabilities | $1.68B | $1.78B | $1.66B | $1.68B | $904.4M | $813.5M | $840.7M | $778.3M | $773.8M | $773.9M | $522.6M | $457.6M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $49,000 | $49,000 | $49,000 | $49,000 | $49,000 | $49,000 | $48,000 | $48,000 | $48,000 | $48,000 | $47,000 | $47,000 |
| Retained earnings (deficit) | $342.4M | $322.7M | $308.4M | $302.5M | $302.2M | $292.9M | $286.3M | $293.2M | $277.1M | $258.0M | $243.1M | $230.8M |
| Minority interest | −$231.6M | −$222.8M | −$221.0M | −$220.8M | −$227.5M | — | — | — | — | — | — | — |
| Total shareholders' equity | $830.2M | $800.3M | $779.3M | $775.5M | $765.5M | $745.4M | $712.7M | $704.6M | $678.9M | $653.5M | $614.2M | $593.7M |
| Key figures | ||||||||||||
| Total debt | $979.4M | $1.07B | $1.08B | $1.09B | $447.6M | $451.4M | $471.8M | $475.8M | $475.5M | $433.6M | $321.0M | $235.6M |
| Net cash (debt) | −$578.6M | −$586.8M | −$648.7M | −$623.8M | −$105.5M | −$190.4M | −$181.0M | −$125.5M | −$147.8M | −$96.3M | −$24.7M | $41.4M |
| Working capital | $171.5M | $258.7M | $248.0M | $253.7M | $269.4M | $252.0M | $272.9M | $284.1M | $259.3M | $181.9M | $242.8M | $273.3M |
| Tangible book value | −$300.1M | −$331.6M | −$355.6M | −$372.8M | $242.8M | $217.1M | $175.3M | $185.8M | $153.1M | $123.5M | $263.7M | $244.0M |
| Book value per share | $16.68 | $16.31 | $15.73 | $15.68 | $15.47 | $15.26 | $14.87 | $14.61 | $14.15 | $13.66 | $12.92 | $12.65 |
| Shares outstanding | 49.8M | 49.1M | 49.5M | 49.5M | 49.5M | 48.9M | 47.9M | 48.2M | 48.0M | 47.9M | 47.5M | 46.9M |
| Current ratio | 1.23 | 1.35 | 1.40 | 1.40 | 1.59 | 1.70 | 1.75 | 1.91 | 1.84 | 1.51 | 2.11 | 2.35 |
| Quick ratio | 1.19 | 1.31 | 1.36 | 1.37 | 1.54 | 1.63 | 1.68 | 1.84 | 1.78 | 1.47 | 2.03 | 2.28 |
| Debt / equity | 1.18 | 1.33 | 1.38 | 1.40 | 0.58 | 0.61 | 0.66 | 0.68 | 0.70 | 0.66 | 0.52 | 0.40 |
| Equity / assets | 36.4% | 33.9% | 35.1% | 34.7% | 53.1% | 56.0% | 52.6% | 54.8% | 54.2% | 53.3% | 65.8% | 55.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 12, 2026); data from EODHD.
ASTH financial position
At the end of fiscal 2025 (December 31, 2025), Astrana Health had total assets of $2.2 billion (up 63.8% from a year earlier), total liabilities of $1.7 billion and shareholders' equity of $779.3 million. It held $429.5 million in cash and short-term investments against $1.1 billion of debt, net debt of $648.7 million. Its current ratio was 1.40. In the latest quarter (ended June 30, 2026) total assets were $2.3 billion and equity $830.2 million.
Related: ASTH income statement, ASTH cash flow statement, ASTH key metrics. See the ASTH stock overview for the latest quote and news.
ASTH balance sheet FAQ
What are Astrana Health's total assets?
Astrana Health reported total assets of $2.2 billion at the end of fiscal 2025 (December 31, 2025), compared with $1.4 billion a year earlier.
How much debt does Astrana Health have?
Astrana Health had $1.1 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 1.38.
How much cash does Astrana Health have?
Astrana Health held $429.5 million in cash and short-term investments at the end of fiscal 2025; with $1.1 billion of debt that is net debt of $648.7 million.
What is Astrana Health's book value?
Astrana Health's shareholders' equity (book value) was $779.3 million at the end of fiscal 2025, or $15.78 per share.
What is Astrana Health's current ratio?
Astrana Health had current assets of $863.3 million and current liabilities of $615.3 million, a current ratio of 1.40 (it can cover its short-term obligations).
How much goodwill does Astrana Health have?
Astrana Health carried $1.1 billion of goodwill and intangible assets, 51.2% of total assets, at the end of fiscal 2025.