Astrana Health, Inc. (ASTH) FY2025 10-K Annual Report

Filed: Mar 12, 2026
Industrials
Services-Management Consulting ServicesSEC EDGAR

Astrana Health, Inc. (ASTH) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Mar 12, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.

Astrana Health, Inc. FY2025 10-K Analysis

Business Overview

  • Core business: Physician-centric, technology-powered, risk-bearing healthcare platform focused on value-based care delivery and coordination for 1.6 million patients
  • New emphasis on expanded Care Enablement segment integrating clinical, operational, financial, and administrative data via proprietary technology suite
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Management Discussion & Analysis

  • Revenue $3.18B in 2025, up $1.15B vs $2.03B in 2024, ~56% YoY growth driven by acquisitions and organic growth
  • Adjusted EBITDA $205.4M, up from $170.4M in 2024, margin decreased to 6% from 8% YoY
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Astrana Health, Inc. FY2025 Key Financial Metrics
XBRL

Revenue

$3.2B

+56.4% YoY

Net Income

$22M

-47.9% YoY

Operating Margin

2.5%

-192bp YoY

Net Margin

0.7%

-141bp YoY

ROE

2.9%

-317bp YoY

Total Assets

$2.2B

+63.8% YoY

EPS (Diluted)

$0.46

-48.9% YoY

Operating Cash Flow

$115M

+119.5% YoY

Source: XBRL data from Astrana Health, Inc. FY2025 10-K filing on SEC EDGAR. All figures in USD.

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