Astrana Health, Inc.
ASTH · NASDAQ
Company research
Astrana Health, Inc. (NASDAQ: ASTH), formerly known as Apollo Medical Holdings, Inc., is a leading physician-centric, technology-powered, risk-bearing healthcare management company headquartered in Alhambra, California, rebranded under its current name in February 2024. The company operates through three segments — Care Partners, Care Delivery, and Care Enablement — leveraging its proprietary end-to-end technology platform to deliver an integrated, value-based care model that supports more than 12,000 affiliated providers and over one million Americans across Medicare, Medicaid, commercial, and ACA Marketplace plans. Astrana acts as a risk-bearing entity connecting the broader healthcare ecosystem through its Management Services Organization (MSO), Independent Physician Associations (IPAs), and Accountable Care Organizations (ACOs), offering comprehensive care coordination to patients, families, physicians, specialists, hospitals, and health plans. In 2025, the company reported record revenue of approximately $3.18 billion, reflecting 56% year-over-year growth, underscoring its rapid expansion as one of the largest value-based healthcare organizations in the United States.
Research reports
Provides a Q1 CY2026 fundamental update with 55.6% year-on-year revenue growth to 965.1 million, EPS and EBITDA beats versus consensus, reaffirmed full-year revenue guidance, and discussion of margins, cash flow, ROIC, and scale. Concludes that Astrana is a “sound business” trading at a fair valuation, suggesting it is an ideal time to buy given its exceptional multi-year revenue and EPS growth, free cash flow improvement, and above‑average ROIC.
Flash By StockSentinel.ai · January 9, 2026Astrana Health, Inc. (ASTH) Stock Research ReportOffers a multi-section deep-dive investment analysis positioning Astrana as a profitable, scaled value-based care consolidator trading around ~10x EV/EBITDA, with Q3 2025 revenue doubling year-on-year, detailed explanation of its capitation-driven model, segment economics, peer valuation, and a scenario framework whose probability-weighted target implies roughly 157% five-year upside from a ~28 price. Thoroughly reviews integration of the Prospect acquisition, payer concentration, CMS-HCC V28 and star ratings headwinds, leverage and execution risks, yet argues ASTH is transitioning from a “show me” to a “showed you” story and recommends it as a core holding for exposure to value-based care.