ALHC · Alignment Healthcare, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.24B | - | $993.70M | $1.02B | $926.93M | - | $692.43M | $681.29M | $628.60M | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $121.14M | - | $110.02M | $103.80M | $103.83M | - | $90.87M | $87.86M | $90.51M | - |
| Total Operating Expenses | $1.22B | - | $986.01M | $992.54M | $932.33M | - | $711.96M | $699.67M | $669.71M | - |
| D&A | $7.84M | - | $7.98M | $7.00M | $7.59M | - | $7.64M | $6.49M | $5.98M | - |
| Operating Income | $15.50M | - | $7.68M | $22.75M | ($5.39M) | - | ($19.52M) | ($18.38M) | ($41.11M) | - |
| Interest Expense | $4.06M | - | $3.95M | $3.95M | $5.43M | - | $6.94M | $5.26M | $5.43M | - |
| Income Tax | $25.0K | - | $2.0K | $3.22M | $21.0K | - | ($8.0K) | $22.0K | $0 | - |
| Net Income | $11.42M | - | $3.73M | $15.67M | ($9.11M) | - | ($26.41M) | ($24.01M) | ($46.52M) | - |
| EPS - Basic | $0.06 | - | $0.02 | $0.08 | ($0.05) | - | ($0.14) | ($0.13) | ($0.25) | - |
| EPS - Diluted | $0.05 | - | $0.02 | $0.07 | ($0.05) | - | ($0.14) | ($0.13) | ($0.25) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $705.58M | $575.82M | $618.07M | $470.27M | $446.18M | $432.86M | $340.30M | $339.01M | $238.90M | $202.90M |
| Accounts Receivable | $277.68M | $253.21M | $219.84M | $282.93M | $214.06M | $153.90M | $138.85M | $183.21M | $165.07M | $119.75M |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | - | - | - | - | - | - | - | - | - | - |
| Current Assets | $1.15B | $951.58M | $985.32M | $880.12M | $774.49M | $661.64M | $573.61M | $599.11M | $520.64M | $483.54M |
| Total Assets | $1.26B | $1.07B | $1.10B | $1.00B | $895.62M | $782.06M | $692.29M | $716.26M | $633.23M | $591.88M |
| Current Liabilities | $724.76M | $556.87M | $611.09M | $529.53M | $457.12M | $351.85M | $358.08M | $371.54M | $330.74M | $263.02M |
| Long-term Debt | $323.62M | $323.18M | $322.74M | $322.30M | $321.86M | $321.43M | $210.39M | $211.74M | $162.03M | $161.81M |
| Total Liabilities | $1.05B | $886.51M | $940.74M | $859.18M | $786.62M | $681.11M | $576.66M | $591.46M | $501.21M | $433.81M |
| Stockholders' Equity | $206.88M | $179.28M | $161.87M | $140.97M | $108.13M | $99.85M | $114.55M | $123.70M | $130.93M | $156.95M |
| Retained Earnings | ($997.60M) | ($1.01B) | ($998.01M) | ($1.00B) | ($1.02B) | ($1.01B) | ($977.20M) | ($950.79M) | ($926.78M) | ($880.26M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $128.68M | - | - | - | $16.62M | - | - | - | ($6.24M) | - |
| Investing Cash Flow | $578.0K | - | - | - | ($3.46M) | - | - | - | $42.70M | - |
| Financing Cash Flow | $515.0K | - | - | - | $181.0K | - | - | - | ($335.0K) | - |
| CapEx | $7.36M | - | - | - | $8.25M | - | - | - | $11.12M | - |
| Free Cash Flow | $121.32M | - | - | - | $8.36M | - | - | - | ($17.36M) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | - | - | - | - | - | - | - |
| Operating margin | 1.3% | - | 0.8% | 2.2% | -0.6% | - | -2.8% | -2.7% | -6.5% | - |
| EBITDA margin | 1.9% | - | 1.6% | 2.9% | 0.2% | - | -1.7% | -1.7% | -5.6% | - |
| Net margin | 0.9% | - | 0.4% | 1.5% | -1.0% | - | -3.8% | -3.5% | -7.4% | - |
| Free cash flow margin | 9.8% | - | - | - | 0.9% | - | - | - | -2.8% | - |
| FCF / Net income | 10.63 | - | - | - | -0.92 | - | - | - | 0.37 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 9.8% | - | 11.1% | 10.2% | 11.2% | - | 13.1% | 12.9% | 14.4% | - |
| Effective tax rate | 0.2% | - | 0.1% | 17.1% | - | - | - | - | - | - |
| Return on assets | 0.9% | - | 0.3% | 1.6% | -1.0% | - | -3.8% | -3.4% | -7.3% | - |
| Return on equity | 5.5% | - | 2.3% | 11.1% | -8.4% | - | -23.1% | -19.4% | -35.5% | - |
| Return on invested capital | 2.9% | - | 1.6% | 4.1% | -1.0% | - | -4.7% | -4.3% | -11.1% | - |
| Liquidity | ||||||||||
| Current ratio | 1.58 | 1.71 | 1.61 | 1.66 | 1.69 | 1.88 | 1.60 | 1.61 | 1.57 | 1.84 |
| Quick ratio | 1.58 | 1.71 | 1.61 | 1.66 | 1.69 | 1.88 | 1.60 | 1.61 | 1.57 | 1.84 |
| Cash ratio | 0.97 | 1.03 | 1.01 | 0.89 | 0.98 | 1.23 | 0.95 | 0.91 | 0.72 | 0.77 |
| Leverage | ||||||||||
| Debt / Equity | 1.56 | 1.80 | 1.99 | 2.29 | 2.98 | 3.22 | 1.84 | 1.71 | 1.24 | 1.03 |
| Debt / Assets | 0.26 | 0.30 | 0.29 | 0.32 | 0.36 | 0.41 | 0.30 | 0.30 | 0.26 | 0.27 |
| Debt / EBITDA | 13.86 | - | 20.61 | 10.83 | 146.23 | - | - | - | - | - |
| Interest coverage | 3.8x | - | 1.9x | 5.8x | -1.0x | - | -2.8x | -3.5x | -7.6x | - |
| Equity multiplier | 6.10 | 5.94 | 6.81 | 7.09 | 8.28 | 7.83 | 6.04 | 5.79 | 4.84 | 3.77 |
| Liabilities / Assets | 0.84 | 0.83 | 0.85 | 0.86 | 0.88 | 0.87 | 0.83 | 0.83 | 0.79 | 0.73 |
| Efficiency | ||||||||||
| Asset turnover | 0.98 | - | 0.90 | 1.02 | 1.03 | - | 1.00 | 0.95 | 0.99 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 82d | - | 81d | 102d | 84d | - | 73d | 98d | 96d | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | 352.4x | - | 872.5x | 200.0x | - | - | - | - | - | - |
| P / B | 18.2x | - | 22.5x | 20.8x | 33.3x | - | 19.7x | 11.8x | 7.2x | - |
| P / S | 3.0x | - | 3.7x | 2.9x | 3.9x | - | 3.3x | 2.1x | 1.5x | - |
| EV / EBITDA | 144.5x | - | 214.0x | 93.6x | 1581.4x | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 33.3% | - | 43.5% | 49.0% | 47.5% | - | 51.6% | 47.3% | 43.1% | - |
| Revenue CAGR (3y) | 41.2% | - | 40.2% | 40.4% | 38.9% | - | 33.1% | 30.2% | 40.9% | - |
| Revenue CAGR (5y) | 40.6% | - | - | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | - | - | - | - | 86.9% | - | 34.4% | 22.3% | -26.5% | - |
| Net income growth (YoY) | - | - | - | - | 80.4% | - | 24.6% | 15.7% | -24.8% | - |
| EPS growth (YoY) | - | - | - | - | 80.0% | - | 26.3% | 13.3% | -8.7% | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | 1350.5% | - | - | - | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 91.3% | 79.5% | 41.3% | 14.0% | -17.4% | -36.4% | -39.2% | -41.1% | -41.2% | -34.1% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$3.95B totalReportable Segment$3.95B · 100.0%
Product / service
$1.24M totalRealizing Equity Access And Community Health REACHModel$1.24M · 100.0%
Peer comparison
Same SIC group: Hospital & Medical Service Plans
Comparing Alignment Healthcare against the 5 most active filers in the same SIC group.