Assay
Financial-condition grades for SEC filers
Company Report · as of Oct 9, 2026
|
| Astrana Health, Inc.ASTH · other | |
|---|---|
| Grade |  Bsecond fifth of 336 graded peers; percentile 34.9, sampling error 2.6 points; lower is stronger |
| Rank | 118 of 336 |
| Profitability | Cpercentile 53.7 |
| Solvency | Cpercentile 42.9 |
| Growth and financing | Bpercentile 33.8 |
| Reliability | 0.91 AUCfailure model, filers with $591M to $2.67B assets; 95% interval 0.88 to 0.94; 160 events, 2020 to 2025 |
| Peer failure rate | 1.01% a yearItem 1.03 bankruptcies, same asset band, 2012 to 2025 |
| Size band | $591M to $2.67B assetstotal assets $2.2B[1] |
| Standard universe | insiderevenue above $1M and assets above $10M[1-2] |
| Warnings | late filernot computable: distress |
| Inputs computable | 8 of 14 |
| Graded from | filings received through Mar 12, 2026211 days before the rescan; every figure keyed to the SEC receipt date |
| Last close | $35.852026-10-08; market equity $2.0B; iex feed |
| Price used in grade | None |
| Share price, twelve months to the rescansplit-adjusted close; a lollipop at every rescan carries the letter held then; baseline ticks are SEC receipt dates of the inputs; ranges and dragging scroll the full history | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Percentile at every rescan on file, Jan 21, 2012 to Oct 9, 2026; stronger toward the top. Hover for the date. Open this report as it stood on | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Each date opens the report as it stood on that rescan. |
Business, in the company's words. Opening of Item 1 of the 10-K received Mar 12, 2026; the document on sec.gov.
Astrana is a leading physician-centric, technology-powered, risk-bearing healthcare company. Leveraging its proprietary end-to-end technology solutions, Astrana operates an integrated healthcare delivery platform that enables providers to successfully participate in value-based care arrangements, thus empowering them to deliver accessible, high-quality care to patients in a cost-effective manner.
Warnings [top]
7 checks ran; none of them enters the letter. The checks are listed on the warnings screen.
The Fourteen Inputs [top]
Lower percentile is stronger. Source numbers open the SEC filing; a range that spans filings opens the sources table.
| Input | Percentile, 0 to 100 | Value | Source | Peer median | Percentile | Peers | Period end |
|---|---|---|---|---|---|---|---|
| Profitability, sleeve percentile 53.7 | |||||||
| Gross profitability | not computable | 27.1% | |||||
| latest aligned inputs end 2021-12-31; latest annual assets end 2025-12-31 | |||||||
| Return on invested capital | not computable | 10.0% | |||||
| prior invested-capital observation is 1736 days earlier | |||||||
| Accruals ratio | (5.2%) | [1,3-5] | (5.9%) | 53.7 | 506 | 2025-12-31 | |
| Gross margin stability, five years | not computable | 2.2 pts | |||||
| five consecutive annual gross margins are required | |||||||
| Solvency, sleeve percentile 42.9 | |||||||
| Twelve-month failure probability | not computable | 0.04% | |||||
| latest liabilities, cash plus short-term investments, book equity, and shares are required | |||||||
| Altman Z double-prime | 1.92 | [1,6-11] | 2.05 | 40.5 | 386 | 2025-12-31 | |
| Net debt to EBITDA | not computable | 2.52x | |||||
| latest aligned inputs end 2019-12-31; latest annual assets end 2025-12-31 | |||||||
| Interest coverage | not computable | 2.18x | |||||
| latest aligned inputs end 2023-12-31; latest annual assets end 2025-12-31 | |||||||
| Current ratio | 1.40x | [6-7] | 1.32x | 45.3 | 506 | 2025-12-31 | |
| Growth and financing, sleeve percentile 33.8 | |||||||
| Revenue growth, three-year compound | 40.6% | [2,12-14] | 5.1% | 3.2 | 403 | 2025-12-31 | |
| Free cash flow growth, three-year compound | 20.9% | [4,15-21] | 8.7% | 32.0 | 220 | 2025-12-31 | |
| Reinvestment rate | (126.7%) | [6-7,9,15,22-26] | 11.9% | 88.4 | 190 | 2025-12-31 | |
| Asset growth, three years | 31.9% | [1,5,27-28] | 4.1% | 6.9 | 438 | 2025-12-31 | |
| Net share issuance, one year | (1.2%) | [29-30] | (0.4%) | 38.6 | 356 | 2026-03-05 | |
Gross profitability. Revenue less cost of goods sold, over total assets.
Accruals ratio. Net income less operating cash flow, over average assets; lower is stronger.
Gross margin stability, five years. Standard deviation of gross margin; lower is stronger.
Twelve-month failure probability. CHS model; lower is stronger.
Net debt to EBITDA. Lower is stronger.
Net share issuance, one year. Split-adjusted; lower is stronger.
Sleeves are equal-weighted; within a sleeve each computable input carries equal weight. Composite -0.155; sampling error 2.6 percentile points on 336 peers.
Among 336 Peers [top]
Composite score of every graded peer, smoothed. Vertical rules are the letter band edges at the 20th, 40th, 60th and 80th percentiles. Small dots are the six largest peers by market equity.
| Rank | Company | Percentile | Letter | Warnings |
|---|---|---|---|---|
| 113 | Korn Ferry (KFY) Korn Ferry (KFY) Bsecond fifth; percentile 33.4 NYSE · Services-Employment Agencies market equity $4.0B; last close $72.97 Warnings: fortress balance sheet; 9 of 14 inputs | 33.4 | B | fortress balance sheet |
| 114 | Limbach Holdings, Inc. (LMB) Limbach Holdings, Inc. (LMB) Bsecond fifth; percentile 33.7 Nasdaq · Construction - Special Trade Contractors market equity $607.6M; last close $50.99 No active warnings; 12 of 14 inputs | 33.7 | B | |
| 115 | Paysign, Inc. (PAYS) Paysign, Inc. (PAYS) Bsecond fifth; percentile 34.0 Nasdaq · Services-Business Services, NEC market equity $844.7M; last close $14.97 No active warnings; 10 of 14 inputs | 34.0 | B | |
| 116 | Fedex Corp. (FDX) Fedex Corp. (FDX) Bsecond fifth; percentile 34.3 NYSE · Air Courier Services market equity $69.0B; last close $291.61 No active warnings; 9 of 14 inputs | 34.3 | B | |
| 117 | Xometry, Inc. (XMTR) Xometry, Inc. (XMTR) Bsecond fifth; percentile 34.6 Nasdaq · Services-Business Services, NEC market equity $4.9B; last close $106.53 No active warnings; 8 of 14 inputs | 34.6 | B | |
| 118 | Astrana Health, Inc. (ASTH) Astrana Health, Inc. (ASTH) Bsecond fifth; percentile 34.9 Nasdaq · Services-Management Consulting Services market equity $2.0B; last close $35.85 Warnings: late filer; 8 of 14 inputs | 34.9 | B | late filer |
| 119 | Evolent Health, Inc. (EVH) Evolent Health, Inc. (EVH) Bsecond fifth; percentile 35.2 NYSE · Services-Management Services market equity $447.7M; last close $3.96 No active warnings; 7 of 14 inputs | 35.2 | B | |
| 120 | Netflix Inc. (NFLX) Netflix Inc. (NFLX) Bsecond fifth; percentile 35.5 Nasdaq · Services-Video Tape Rental market equity $298.0B; last close $71.59 No active warnings; 11 of 14 inputs | 35.5 | B | |
| 121 | United Rentals, Inc. (URI) United Rentals, Inc. (URI) Bsecond fifth; percentile 35.8 NYSE · Services-Equipment Rental & Leasing, NEC market equity $65.8B; last close $1,051.89 No active warnings; 9 of 14 inputs | 35.8 | B | |
| 122 | Bgsf, Inc. (BGSF) Bgsf, Inc. (BGSF) Bsecond fifth; percentile 36.1 NYSE · Services-Help Supply Services market equity $50.9M; last close $4.65 Warnings: late filer; 9 of 14 inputs | 36.1 | B | late filer |
| 123 | Sterling Infrastructure, Inc. (STRL) Sterling Infrastructure, Inc. (STRL) Bsecond fifth; percentile 36.4 Nasdaq · Heavy Construction Other Than Bldg Const - Contractors market equity $15.9B; last close $518.11 No active warnings; 9 of 14 inputs | 36.4 | B |
| Peer policy | Letter | Percentile | Peers |
|---|---|---|---|
| all graded filers, equal sleeves | C | 44.6 | 2204 |
| sector peers, equal sleeves (the grade) | B | 34.9 | 336 |
| same exchange, equal sleeves | C | 51.3 | 1219 |
| sector peers, equal inputs | A/B | 20.6 | 336 |
Each letter is one fifth of the 336 graded peers, about 67 companies. A boundary letter (A/B, B/C, C/D, D/E) marks a percentile within one sampling error of a band edge.
What the Price Implies [top]
Market measures at the 2026-10-08 close. None enters the grade. Percentile among graded peers with the same measure.
| Measure | Value | Peer median | Percentile | Reading |
|---|---|---|---|---|
| Twelve-month price change, skipping the latest month | 34.4% | 2.0% | 74 | hotter than 74 of 100 peers |
| Distance from 52-week high | (28.0%) | (26.8%) | 47 | closer to its high than 47 of 100 peers |
| EBIT to enterprise value | 4.3% | 4.4% | 47 | pricier than 53 of 100 peers |
| Free cash flow yield | 5.2% | 4.1% | 57 | pricier than 43 of 100 peers |
| Book value to price | 0.42 | 0.34 | 60 | pricier than 40 of 100 peers |
| Sales to price | 1.59 | 0.70 | 74 | pricier than 26 of 100 peers |
| Composite equity issuance, five years | 2.1% | (8.8%) | 70 | more equity-funded than 70 of 100 peers |
| Relative strength against the sector, log excess return | 0.15 | (0.13) | 74 | ahead of 74 of 100 peers |
Inputs: market equity $2.0B; EBIT $78.5M; free cash flow $104.5M; book equity $830.2M; sales $3.2B; debt $226.1M; cash $400.8M[31].
Diagnostics [top]
Diagnostics do not feed the grade.
| Piotroski F-score: None of 9, period end 2025-12-31 | ||
|---|---|---|
| Return on assets above zero | 1.7% | ✓ pass[3,5] |
| Operating cash flow above zero | $114.6M | ✓ pass[4] |
| Return on assets improved | (3.0 pts) | ✗ fail[3,5,27,32] |
| Operating cash flow exceeds net income | $92.1M | ✓ pass[3-4] |
| Long-term leverage fell | 18.3 pts | ✗ fail[1,5,27,33-34] |
| Current ratio improved | (34.3 pts) | ✗ fail[6-7,25-26] |
| No new shares issued | (1.2%) | ✓ pass[29-30] |
| Gross margin improved | n/a | |
| Asset turnover improved | 16.9 pts | ✓ pass[2,5,12,27] |
| Cash, filings, liquidity | |
|---|---|
| Cash and equivalents | $400.8M[35] |
| Operating cash flow, four quarters | $107.9M[4,35-39] |
| Months of runway | not finite |
| trailing operating cash flow is nonnegative, so runway is not finite | |
| Late filings, two years | 2 |
| NT 10-K or NT 10-Q | |
| Days since last periodic filing | 60 |
| 10-Q received Aug 10, 2026 | |
| Median daily dollar volume | $14.4M |
| 63 sessions | |
| Days since newest grade input | 211 |
Downloads [top]
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Sources [top]
Every citation on this page. Filing opens the SEC index page for that submission; viewer opens the SEC interactive data for the same filing; series opens the SEC XBRL API record for that tag and company.
| # | Concept | XBRL tag | Value | Period end | Received | Form | Links |
|---|---|---|---|---|---|---|---|
| 1 | assets | us-gaap:Assets | $2.2B | 2025-12-31 | 2026-03-12 | 10-K | filing · viewer · series |
| 2 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $3.2B | 2025-12-31 | 2026-03-12 | 10-K | filing · viewer · series |
| 3 | net income | us-gaap:NetIncomeLoss | $22.5M | 2025-12-31 | 2026-03-12 | 10-K | filing · viewer · series |
| 4 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $114.6M | 2025-12-31 | 2026-03-12 | 10-K | filing · viewer · series |
| 5 | assets | us-gaap:Assets | $1.4B | 2024-12-31 | 2026-03-12 | 10-K | filing · viewer · series |
| 6 | current assets | us-gaap:AssetsCurrent | $863.3M | 2025-12-31 | 2026-03-12 | 10-K | filing · viewer · series |
| 7 | current liabilities | us-gaap:LiabilitiesCurrent | $615.3M | 2025-12-31 | 2026-03-12 | 10-K | filing · viewer · series |
| 8 | retained earnings | us-gaap:RetainedEarningsAccumulatedDeficit | $308.4M | 2025-12-31 | 2026-03-12 | 10-K | filing · viewer · series |
| 9 | operating income | us-gaap:OperatingIncomeLoss | $78.5M | 2025-12-31 | 2026-03-12 | 10-K | filing · viewer · series |
| 10 | book equity | us-gaap:StockholdersEquity | $779.3M | 2025-12-31 | 2026-03-12 | 10-K | filing · viewer · series |
| 11 | liabilities | us-gaap:Liabilities | $1.7B | 2025-12-31 | 2026-03-12 | 10-K | filing · viewer · series |
| 12 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $2.0B | 2024-12-31 | 2026-03-12 | 10-K | filing · viewer · series |
| 13 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $1.4B | 2023-12-31 | 2026-03-12 | 10-K | filing · viewer · series |
| 14 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $1.1B | 2022-12-31 | 2025-03-14 | 10-K | filing · viewer · series |
| 15 | capital expenditure | us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | $10.1M | 2025-12-31 | 2026-03-12 | 10-K | filing · viewer · series |
| 16 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $52.2M | 2024-12-31 | 2026-03-12 | 10-K | filing · viewer · series |
| 17 | capital expenditure | us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | $8.0M | 2024-12-31 | 2026-03-12 | 10-K | filing · viewer · series |
| 18 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $68.2M | 2023-12-31 | 2026-03-12 | 10-K | filing · viewer · series |
| 19 | capital expenditure | us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | $28.5M | 2023-12-31 | 2026-03-12 | 10-K | filing · viewer · series |
| 20 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $82.1M | 2022-12-31 | 2025-03-14 | 10-K | filing · viewer · series |
| 21 | capital expenditure | us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | $22.9M | 2022-12-31 | 2025-03-14 | 10-K | filing · viewer · series |
| 22 | depreciation amortization | us-gaap:DepreciationDepletionAndAmortization | $45.7M | 2025-12-31 | 2026-03-12 | 10-K | filing · viewer · series |
| 23 | pretax income | us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest | $39.6M | 2025-12-31 | 2026-03-12 | 10-K | filing · viewer · series |
| 24 | income tax | us-gaap:IncomeTaxExpenseBenefit | $15.5M | 2025-12-31 | 2026-03-12 | 10-K | filing · viewer · series |
| 25 | current assets | us-gaap:AssetsCurrent | $638.5M | 2024-12-31 | 2026-03-12 | 10-K | filing · viewer · series |
| 26 | current liabilities | us-gaap:LiabilitiesCurrent | $365.6M | 2024-12-31 | 2026-03-12 | 10-K | filing · viewer · series |
| 27 | assets | us-gaap:Assets | $933.4M | 2023-12-31 | 2025-03-14 | 10-K | filing · viewer · series |
| 28 | assets | us-gaap:Assets | $966.2M | 2022-12-31 | 2024-02-29 | 10-K | filing · viewer · series |
| 29 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 55,603,598 | 2026-03-05 | 2026-03-12 | 10-K | filing · viewer · series |
| 30 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 56,252,503 | 2025-03-06 | 2025-03-14 | 10-K | filing · viewer · series |
| 31 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 55,737,168 | 2026-08-03 | 2026-08-10 | 10-Q | filing · viewer · series |
| 32 | net income | us-gaap:NetIncomeLoss | $43.1M | 2024-12-31 | 2026-03-12 | 10-K | filing · viewer · series |
| 33 | long term debt | us-gaap:LongTermDebtNoncurrent | $990.9M | 2025-12-31 | 2026-03-12 | 10-K | filing · viewer · series |
| 34 | long term debt | us-gaap:LongTermDebtNoncurrent | $425.3M | 2024-12-31 | 2026-03-12 | 10-K | filing · viewer · series |
| 35 | cash | us-gaap:CashAndCashEquivalentsAtCarryingValue | $400.8M | 2026-06-30 | 2026-08-10 | 10-Q | filing · viewer · series |
| 36 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $100.8M | 2026-06-30 | 2026-08-10 | 10-Q | filing · viewer · series |
| 37 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $68.1M | 2026-03-31 | 2026-05-08 | 10-Q | filing · viewer · series |
| 38 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $117.5M | 2025-09-30 | 2025-11-10 | 10-Q | filing · viewer · series |
| 39 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $107.5M | 2025-06-30 | 2026-08-10 | 10-Q | filing · viewer · series |
Limitations [top]
Grade boundary. Percentile 34.9 is 5.1 points from the nearest band edge; sampling error is 2.6 points.
Peer group. Sector assignment from four-digit SIC codes, hand-tuned and published. The grade under three alternative peer policies is tabled above.
Size. Within a sector the letter tracks size. Among graded filers in the smallest asset band, 72% grade E and 0% grade A; in the largest, 13% grade E and 21% grade A. Universe as of Oct 9, 2026.
Failure model. filings 2012-01-01 to 2019-12-31 fit, filings 2020-01-01 to 2025-12-31 test; status post hoc pending confirmation. pre-registered on 2026 filings once their 12-month outcome windows close; supported if the paired per-quintile gain over the pooled model has a lower bound above 0.05.
Input validity. Revenue or total assets at or below $100,000 sets the degenerate-inputs flag. An input whose denominator is at or below $100,000 is left not computable rather than ranked.
Returns. No input on this page has a post-2015 confidence interval on returns that excludes zero. The grade ranks reported financial condition and is not a return forecast.
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