Financial Analysis
Filing-based analysis. Market pricing is not included. Fundamentals from SEC filings; economic data from FRED and the BLS. About our data
Filing evidence summary
Mixed evidenceCoverage 5/5 core metricsOperating margin changed -1.9 percentage points from the prior annual period.
Backward-looking filed evidence under visible rules - not a rating, forecast or investment advice. Missing data is never scored.
Evidence signals
- Operating margin compressed
Operating margin changed -1.9 percentage points from the prior annual period.
Why this surfaced
Direction threshold: more than +1 percentage point constructive; below -1 point caution. Period end 2025-12-31.
- 1 filing risk check flagged
Flagged areas: Solvency & liquidity.
Why this surfaced
The full financial analysis shows each value, threshold, and sector limitation.
- Revenue expanded
Latest reported annual revenue changed +56.4% from the prior reported annual observation.
Why this surfaced
Direction threshold: above +2% constructive; below -2% caution; otherwise monitor. This is not labeled one-year growth when filing periods have a gap. Period end 2025-12-31.
- Free cash flow was positive
Latest reported free cash flow was $104M.
Why this surfaced
Free cash flow = operating cash flow minus capital expenditures; positive is supporting evidence, not a valuation conclusion. Period end 2025-12-31.
Core trend metrics
Hover a tile for its exact definition; the Statements tab carries per-cell filing citations.
Where to look next
Risk checks
- Solvency & liquidity
Financial movement
- Cash→ flat
- Long-term debt→ flat
- Inventory→ flat
- Receivables→ flat
- Current assets→ flat
Source & freshness
- Source
- SEC EDGAR XBRL
- Fetched
- 2026-09-06
- Latest period end
- 2025-12-31
- Filings
- EDGAR ↗
Reported segment mix
figures as filed · share of the filed sum · change vs the prior period in the same filing- Health Care Capitation Revenue$2.92B91.9%+57.5% yoy
- Health Care Patient Service$113M3.5%+80.7% yoy
- Health Care Other$86.2M2.7%0.0% yoy
- Management Service$30.4M1.0%+117.4% yoy
- Product And Service Other$28.3M0.9%+85.8% yoy
Members sum to the consolidated $3.18B for this period.
- Health Care Capitation Revenue$893M92.5%+52.9% yoy
- Health Care Patient Service$37.8M3.9%+154.1% yoy
- Management Service$15.7M1.6%+579.0% yoy
- Health Care Other$12.5M1.3%-13.8% yoy
- Product And Service Other$6.19M0.6%+30.7% yoy
Change is against the same quarter a year earlier, as reported in the same 10-Q.
Source: SEC DERA Financial Statement and Notes data sets. Dimensional XBRL facts on the business-segment, product/service and geographic axes; the engine keeps the accession of every figure. Descriptive and educational, not advice.
Peer percentiles
latest fiscal year ending 2025-12-31 · among 4,122 US-listed filers · 322 in Industrials| Metric | Value | vs all filers | vs sector |
|---|---|---|---|
Revenue latest fiscal-year revenue as filed | $3.2B | 74thof 3,301 top third | 63rdof 305 middle third |
Operating margin operating income ÷ revenue | 2.5% | 49thof 2,819 middle third | 41stof 280 middle third |
Net margin net income ÷ revenue | 0.7% | 45thof 3,263 middle third | 36thof 299 middle third |
Free-cash-flow margin (operating cash flow − |capex|) ÷ revenue | 3.3% | 45thof 2,679 middle third | 45thof 276 middle third |
Return on equity net income ÷ stockholders' equity (positive equity only) | 2.9% | 48thof 3,577 middle third | 38thof 281 middle third |
Stock comp ÷ revenue stock-based compensation ÷ revenue · lower is ranked higher | 1.2% | 63rdof 2,895 middle third | 36thof 266 middle third |
Days sales outstanding receivables ÷ revenue × 365 · lower is ranked higher | 43 days | 58thof 2,398 middle third | 62ndof 238 middle third |
Net debt ÷ operating cash flow net debt ÷ operating cash flow (OCF > 0) · lower is ranked higher | 4.9× | 28thof 1,547 bottom third | 20thof 149 bottom third |
Cash conversion operating cash flow ÷ net income (net income > 0) | 5.1× | 90thof 2,183 top third | 90thof 200 top third |
Each filer's latest fiscal year as stored by the nightly crawl; fiscal year ends differ across the universe. A metric ranks only filers for which it is computable from filed facts. Ties split; a rank reads "better than N% of filers" in the metric's own direction. Descriptive and educational, not a rating.
Earnings quality
latest fiscal year ending 2025-12-31 · accruals and cash conversion as filedPer fiscal year from filed facts: cash conversion = operating cash flow / net income (net income > 0); cash-flow accrual ratio = (net income - operating cash flow) / average total assets; balance-sheet accrual ratio = change in net operating assets / average net operating assets, NOA = (assets - cash) - (liabilities - debt). Descriptive; a missing input yields a missing ratio. High accrual ratios and cash conversion well below one are the measures the accruals literature associates with less persistent earnings; they are screens to read the cash-flow statement with, not conclusions. The per-year series is part of Pro risk analysis.
Point-in-time ledger
first-reported vs latest filing · periods since 2020-01-01 · 40 changed periods, 30 largest shown| Line item | Period | First reported | Latest filing | Change | Filings |
|---|---|---|---|---|---|
| Net income NetIncomeLoss | quarter 2021-06-30 | $12.7M 10-Q 2021-08-06 | $10.1M 10-K/A 2023-08-09 | -20.3% | first · latest · 3 filings carry it |
| Net income NetIncomeLoss | quarter 2022-09-30 | $26M 10-Q 2022-11-07 | $23.2M 10-Q 2023-11-09 | -10.8% | first · latest · 3 filings carry it |
| Net income NetIncomeLoss | quarter 2023-03-31 | $14.6M 10-Q 2023-05-10 | $13.1M 10-Q 2024-05-09 | -10.2% | first · latest · 3 filings carry it |
| Net income NetIncomeLoss | fiscal year 2022-12-31 | $49M 10-K 2023-03-01 | $45.2M 10-K 2025-03-14 | -7.9% | first · latest · 4 filings carry it |
| Net income NetIncomeLoss | quarter 2021-03-31 | $13.2M 10-Q 2021-05-07 | $12.2M 10-K/A 2023-08-09 | -7.6% | first · latest · 3 filings carry it |
| Net income NetIncomeLoss | fiscal year 2021-12-31 | $73.9M 10-K 2022-02-28 | $68.9M 10-K 2024-02-29 | -6.7% | first · latest · 4 filings carry it |
| Depreciation and amortization DepreciationDepletionAndAmortization | quarter 2020-03-31 | $5.01M 10-Q 2020-05-29 | $4.7M 10-Q 2021-05-07 | -6.2% | first · latest |
| Total liabilities Liabilities | balance at 2021-12-31 | $336M 10-K 2022-02-28 | $357M 10-K/A 2023-08-09 | +6.0% | first · latest · 6 filings carry it |
| Receivables AccountsReceivableNetCurrent | balance at 2022-12-31 | $52.6M 10-K 2023-03-01 | $49.6M 10-Q/A 2023-08-09 | -5.7% | first · latest · 4 filings carry it |
| Total liabilities Liabilities | balance at 2022-09-30 | $390M 10-Q 2022-11-07 | $410M 10-K/A 2023-08-09 | +5.2% | first · latest |
| Total liabilities Liabilities | balance at 2022-06-30 | $425M 10-Q 2022-08-09 | $447M 10-K/A 2023-08-09 | +5.1% | first · latest |
| Net income NetIncomeLoss | quarter 2022-06-30 | $11.4M 10-Q 2022-08-09 | $11.9M 10-K/A 2023-08-09 | +4.8% | first · latest · 3 filings carry it |
| Total liabilities Liabilities | balance at 2023-03-31 | $415M 10-Q 2023-05-10 | $434M 10-Q/A 2023-08-09 | +4.6% | first · latest |
| Total liabilities Liabilities | balance at 2022-03-31 | $381M 10-Q 2022-05-10 | $397M 10-K/A 2023-08-09 | +4.3% | first · latest |
| Receivables AccountsReceivableNetCurrent | balance at 2023-03-31 | $79M 10-Q 2023-05-10 | $76M 10-Q/A 2023-08-09 | -3.8% | first · latest |
| Net income NetIncomeLoss | quarter 2022-03-31 | $14.3M 10-Q 2022-05-10 | $13.8M 10-Q/A 2023-08-09 | -3.5% | first · latest · 4 filings carry it |
| Total liabilities Liabilities | balance at 2022-12-31 | $395M 10-K 2023-03-01 | $408M 10-K 2024-02-29 | +3.1% | first · latest · 7 filings carry it |
| Goodwill Goodwill | balance at 2020-12-31 | $239M 10-K 2021-03-15 | $232M 10-K/A 2023-08-09 | -2.8% | first · latest · 7 filings carry it |
| Goodwill Goodwill | balance at 2021-03-31 | $239M 10-Q 2021-05-07 | $232M 10-K/A 2023-08-09 | -2.8% | first · latest |
| Goodwill Goodwill | balance at 2021-06-30 | $239M 10-Q 2021-08-06 | $232M 10-K/A 2023-08-09 | -2.8% | first · latest |
| Goodwill Goodwill | balance at 2021-09-30 | $243M 10-Q 2021-11-05 | $237M 10-K/A 2023-08-09 | -2.7% | first · latest |
| Goodwill Goodwill | balance at 2021-12-31 | $253M 10-K 2022-02-28 | $246M 10-K 2024-02-29 | -2.6% | first · latest · 7 filings carry it |
| Goodwill Goodwill | balance at 2022-03-31 | $252M 10-Q 2022-05-10 | $246M 10-K/A 2023-08-09 | -2.6% | first · latest |
| Goodwill Goodwill | balance at 2022-06-30 | $253M 10-Q 2022-08-09 | $247M 10-K/A 2023-08-09 | -2.6% | first · latest |
| Goodwill Goodwill | balance at 2022-09-30 | $257M 10-Q 2022-11-07 | $251M 10-K/A 2023-08-09 | -2.6% | first · latest |
| Goodwill Goodwill | balance at 2022-12-31 | $276M 10-K 2023-03-01 | $269M 10-K 2025-03-14 | -2.4% | first · latest · 8 filings carry it |
| Goodwill Goodwill | balance at 2023-03-31 | $276M 10-Q 2023-05-10 | $269M 10-Q/A 2023-08-09 | -2.4% | first · latest |
| Total liabilities Liabilities | balance at 2021-06-30 | $348M 10-Q 2021-08-06 | $356M 10-K/A 2023-08-09 | +2.4% | first · latest |
| Stockholders' equity StockholdersEquity | balance at 2023-03-31 | $560M 10-Q 2023-05-10 | $548M 10-Q/A 2023-08-09 | -2.1% | first · latest |
| Total liabilities Liabilities | balance at 2021-09-30 | $339M 10-Q 2021-11-05 | $346M 10-K/A 2023-08-09 | +2.0% | first · latest |
First filing reporting each period vs the latest filing carrying it (10-K and 10-Q only, periods since 2020, the extractor's winning tag per concept); a change under 0.5% is treated as rounding. A change can be a restatement, a reclassification or a re-tagging in a later comparative column; the two filings are linked so the reader can see which. Descriptive, not a verdict.
Notes by disclosure type
Not available for ASTH yet: no footnote text blocks on file for this filer in the ingested DERA files.
Fundamentals from SEC EDGAR. Scores, the DCF, and every model shown are educational analysis, not investment advice or price predictions.