MEDIUMBuilt-inGeographic
California
“10-K Item 1A: 'We currently derive a substantial portion of our revenues in California and are vulnerable to changes in that state.'”
ASTH · Concentration risk · 10-K extracted
Astrana Health (ASTH) concentration risks
Updated
The most significant concentration Astrana Health discloses is California, classified MEDIUM by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
Show full disclosure ▾Hide full disclosure ▴
About TrendMatrix. TrendMatrix is a publisher of general securities research and market commentary. We publish on a regular schedule. All content is the same for every subscriber in a tier — we do not provide personalized investment advice and we do not take into account any individual subscriber's financial situation, investment objectives, risk tolerance, tax situation, or holdings.
Not investment advice. TrendMatrix is not a registered investment adviser. Our content is for informational and educational purposes only. Consult your own licensed investment adviser, broker, or tax professional before making any investment decision.
Conflicts and positions. The TrendMatrix editorial team frequently holds personal long-term positions in securities discussed. We disclose positions held at the time of publication on each piece. We maintain a trading-window policy: we do not initiate or close positions in the same direction as a TrendMatrix publication within 24 hours before or 72 hours after publication.
No paid promotion. TrendMatrix does not accept payment from any issuer, broker, or third party in exchange for coverage of any security. Our sole compensation is subscription revenue.
No fiduciary duty. No fiduciary, advisory, or agency relationship is created between you and TrendMatrix by reading our content or subscribing to our service.
Performance. Past performance is not indicative of future results. Performance figures reflect the published model only and do not reflect any individual subscriber's actual results.
Source: Astrana Health’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 1 disclosed concentration
HIGH0
MEDIUM1
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-07-06Astrana Health's disclosed concentration risk is geographic: the company currently derives a substantial portion of its revenues in California and is vulnerable to changes in that state. This is a structural, medium-size exposure — the risk is embedded in the company's California-centered operating footprint rather than tied to a single counterparty, product, or customer relationship. Because the filing describes this as a substantial, not total, portion of revenue, the company retains some revenue base outside California, which tempers the exposure relative to a company with no geographic diversification at all. Still, changes specific to California — whether regulatory, economic, or competitive — would disproportionately affect Astrana relative to a more evenly distributed peer, since the state is called out as the primary source of vulnerability. With no other concentration exposures disclosed, California represents the single geographic factor most likely to influence results, and its medium disclosed size suggests a real but not extreme sensitivity. For an investor, monitoring California-specific healthcare policy, reimbursement, and regulatory developments is the most direct way to track this concentration risk going forward.
For the engine’s reasoning on ASTH’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Medical Care Facilities
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| ACHC | Acadia Healthcare Company, Inc. | 1 | 1 | 0 | 2 |
| ADUS | Addus HomeCare Corporation | 0 | 2 | 4 | 6 |
| ARDT | Ardent Health, Inc. | 0 | 2 | 0 | 2 |
| ASTH● | Astrana Health Inc. | 0 | 1 | 0 | 1 |
| AMN | AMN Healthcare Services Inc | 0 | 0 | 1 | 1 |
| AGL | agilon health, inc. | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.