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Alignment Healthcare, Inc.(ALHC)Earnings, Financials & Key Ratios
ALHC•NASDAQ•Insurance & Managed Care
$18.30
$3.74B mkt cap·Price updated May 6, 2026
AboutAlignment Healthcare, Inc., a tech-enabled Medicare advantage company, operates consumer-centric health care platform. It provides customized health care in the United States to seniors and those who need it through its Medicare advantage plans. The company owns Medicare advantage plans in the states of California, North Carolina, and Nevada. It also coordinates and provides covered health care services, including professional, institutional, and ancillary services to members enrolled in certain benefit plans of unaffiliated Medicare Advantage Health Maintenance Organizations. The company was founded in 2013 and is based in Orange, California.Show more
- Revenue$3.95B+46.1%
- Combined Ratio99.63%-4.0%
- Net Income-$724K+99.4%
- Return on Equity-0.52%+99.5%
- Medical Cost Ratio87.63%-1.6%
- Operating Margin0.37%+109.9%
- Net Margin-0.02%+99.6%
- ROA-0.08%+99.6%
- Equity / Assets16.82%+30.3%
- Book Value per Share0.91+71.1%
- Tangible BV/Share0.72+123.2%
- Debt/Equity1.89-42.2%
ALHC Key Insights
Alignment Healthcare, Inc. (ALHC) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Strong 5Y profit CAGR of 49.9%
✗Weaknesses
- ✗High loss ratio of 87.6%
- ✗Expensive at 20.2x book value
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
ALHC Price & Volume
Alignment Healthcare, Inc. (ALHC) stock price & volume — 10-year historical chart
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ALHC Growth Metrics
Alignment Healthcare, Inc. (ALHC) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years32.71%
3 Years40.16%
TTM41.81%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM121.85%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM118.4%
Return on Capital
10 Years-27.74%
5 Years-28.66%
3 Years-19.58%
Last Year2.89%
ALHC Recent Earnings
Alignment Healthcare, Inc. (ALHC) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 8/12 qtrs (67%)●Beat Revenue 12/12 qtrs (100%)
Q2 2026Latest
Apr 30, 2026EPS
$0.05
Est $0.01
+400.0%
Revenue
$1.2B
Est $1.2B
+1.4%
Q1 2026
Feb 26, 2026EPS
$0.05
Est $0.15
+66.7%
Revenue
$1.0B
Est $1.0B
+0.9%
Q4 2025
Oct 30, 2025EPS
$0.02
Est $0.01
+300.0%
Revenue
$994M
Est $981M
+1.3%
Q3 2025
Jul 30, 2025EPS
$0.07
Est $0.07
+200.0%
Revenue
$1.0B
Est $960M
+5.8%
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 30, 2026 | $0.05vs $0.01+400.0% | $1.2Bvs $1.2B+1.4% |
| Q1 2026 | Feb 26, 2026 | $0.05vs $0.15+66.7% | $1.0Bvs $1.0B+0.9% |
| Q4 2025 | Oct 30, 2025 | $0.02vs $0.01+300.0% | $994Mvs $981M+1.3% |
| Q3 2025 | Jul 30, 2025 | $0.07vs $0.07+200.0% | $1.0Bvs $960M+5.8% |
Based on last 12 quarters of dataView full earnings history →
ALHC Peer Comparison
Alignment Healthcare, Inc. (ALHC) competitors in Tech-Enabled Health Plans — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 CNC | 26.15B | 52.97 | -3.89 | 19.44% | -3.25% | -28.6% | 16.52% | 0.94 |
 MOH | 10.01B | 192.17 | 21.54 | 11.75% | 0.42% | 4.44% | 0.97 | |
 CVS | 102.56B | 80.69 | 58.05 | 7.85% | 0.44% | 2.35% | 7.61% | 1.24 |
 HUM | 28.76B | 239.53 | 24.34 | 10.06% | 0.82% | 6.17% | 1.3% | 0.73 |
 ELV | 80.15B | 369.07 | 14.69 | 12.62% | 2.62% | 11.92% | 3.96% | 0.75 |
 OSCR | 4.71B | 17.94 | -10.62 | 27.5% | -3.79% | -45.19% | 22.49% | 0.44 |
 CLOV | 1.35B | 2.61 | -15.35 | 40.34% | -4.45% | -27.71% | ||
 ACGL | 33.54B | 94.14 | 8.10 | 14.27% | 22.07% | 19.02% | 18.27% | 0.11 |
Compare ALHC vs Peers
Alignment Healthcare, Inc. (ALHC) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
ALHC Income Statement
Alignment Healthcare, Inc. (ALHC) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|
| Revenue | 756.96M | 959.22M | 1.17B | 1.43B | 1.82B | 2.7B | 3.95B | 4.26B |
| Revenue Growth % | - | 26.72% | 21.74% | 22.81% | 27.16% | 48.25% | 46.06% | 41.81% |
| Medical Costs & Claims | 661.39M | 792.99M | 1.04B | 1.25B | 1.62B | 2.41B | 3.46B | 2.64B |
| Medical Cost Ratio % | 87.37% | 82.67% | 88.98% | 87.15% | 88.98% | 89.03% | 87.63% | 62% |
| Gross Profit | 95.57M▲ 0% | 166.23M▲ 73.9% | 128.73M▼ 22.6% | 184.28M▲ 43.2% | 201.03M▲ 9.1% | 296.69M▲ 47.6% | 488.56M▲ 64.7% | 382.53M▲ 0% |
| Gross Margin % | 12.63% | 17.33% | 11.02% | 12.85% | 11.02% | 10.97% | 12.37% | 8.99% |
| Gross Profit Growth % | - | 73.93% | -22.56% | 43.15% | 9.09% | 47.59% | 64.67% | - |
| Operating Expenses | 125.06M | 171.49M | 306.8M | 312.92M | 328.85M | 398.25M | 473.81M | 483.52M |
| OpEx / Revenue % | 16.52% | 17.88% | 26.27% | 21.82% | 18.03% | 14.73% | 12% | 11.36% |
| Depreciation & Amortization | 16.58M | 15.46M | 16.03M | 17.49M | 21.67M | 27.06M | 30.48M | 30.69M |
| Combined Ratio % | 103.9% | 100.55% | 115.25% | 108.97% | 107.01% | 103.76% | 99.63% | 73.36% |
| Operating Income | -29.48M▲ 0% | -5.26M▲ 82.1% | -178.07M▼ 3283.5% | -128.64M▲ 27.8% | -127.82M▲ 0.6% | -101.56M▲ 20.5% | 14.75M▲ 114.5% | 35.65M▲ 0% |
| Operating Margin % | -3.9% | -0.55% | -15.25% | -8.97% | -7.01% | -3.76% | 0.37% | 0.84% |
| Operating Income Growth % | - | 82.15% | -3283.47% | 27.76% | 0.64% | 20.55% | 114.53% | - |
| EBITDA | -12.9M | 10.2M | -162.04M | -111.15M | -106.15M | -74.49M | 45.23M | 66.34M |
| EBITDA Margin % | -1.7% | 1.06% | -13.88% | -7.75% | -5.82% | -2.76% | 1.15% | 1.56% |
| Interest Expense | 14.9M | 16.93M | 17.44M | 18.29M | 21.23M | 23.55M | 15.8M | 15.91M |
| Non-Operating Income | 351K | 732K | -229K | 2.37M | -853K | 2.95M | -89K | -79K |
| Pretax Income | -44.73M▲ 0% | -22.93M▲ 48.7% | -195.29M▼ 751.8% | -149.3M▲ 23.5% | -148.19M▲ 0.7% | -128.05M▲ 13.6% | -958K▲ 99.3% | 19.82M▲ 0% |
| Pretax Margin % | -5.91% | -2.39% | -16.72% | -10.41% | -8.13% | -4.74% | -0.02% | 0.47% |
| Income Tax | 0 | 0 | 0 | 339K | -22K | 21K | 20K | 24K |
| Effective Tax Rate % | 0% | 0% | 0% | -0.23% | 0.01% | -0.02% | -2.09% | 0.12% |
| Net Income | -44.73M▲ 0% | -22.93M▲ 48.7% | -195.29M▼ 751.8% | -149.55M▲ 23.4% | -148.02M▲ 1.0% | -128.03M▲ 13.5% | -724K▲ 99.4% | 19.81M▲ 0% |
| Net Margin % | -5.91% | -2.39% | -16.72% | -10.43% | -8.12% | -4.74% | -0.02% | 0.47% |
| Net Income Growth % | - | 48.75% | -751.81% | 23.42% | 1.02% | 13.5% | 99.43% | 121.85% |
| EPS (Diluted) | -0.29▲ 0% | -0.12▲ 58.6% | -1.14▼ 850.0% | -0.83▲ 27.2% | -0.79▲ 4.8% | -0.67▲ 15.2% | -0.00▲ 99.4% | 0.09▲ 0% |
| EPS Growth % | - | 58.62% | -850% | 27.19% | 4.82% | 15.19% | 99.45% | 118.4% |
| EPS (Basic) | -0.29 | -0.12 | -1.14 | -0.83 | -0.79 | -0.67 | -0.00 | - |
| Diluted Shares Outstanding | 152.13M | 187.27M | 171.96M | 181.21M | 186.21M | 190.79M | 198.01M | 213.13M |
ALHC Balance Sheet
Alignment Healthcare, Inc. (ALHC) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|
| Total Assets | 193.44M | 338.5M | 630.89M | 633.86M | 591.88M | 782.06M | 1.07B | 1.26B |
| Asset Growth % | - | 74.99% | 86.38% | 0.47% | -6.62% | 32.13% | 36.28% | 176.05% |
| Total Investment Assets | 0 | 0 | 0 | 0 | 115.91M | 37.79M | 28.41M | 3M |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 28.41M | 28.41M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 115.91M | 37.79M | 0 | 0 |
| Total Current Assets | 127.35M | 264.68M | 552.86M | 544.55M | 483.54M | 661.64M | 831.14M | 1.15B |
| Cash & Equivalents | 86.48M | 207.31M | 466.6M | 409.55M | 202.9M | 432.86M | 577.94M | 705.58M |
| Receivables | 35.63M | 40.14M | 58.51M | 92.89M | 119.75M | 153.9M | 253.21M | 1.03B |
| Other Current Assets | 0 | 0 | 0 | 42.11M | 44.97M | 37.08M | 0 | 162.1M |
| Goodwill & Intangibles | 34.97M | 34.65M | 35.12M | 40.29M | 40.08M | 39.38M | 36.61M | 146.44M |
| Goodwill | 29.3M | 29.3M | 29.3M | 34.81M | 34.83M | 34.83M | 32.06M | 32.06M |
| Intangible Assets | 5.67M | 5.34M | 5.81M | 5.48M | 5.25M | 4.55M | 4.55M | 4.55M |
| PP&E (Net) | 27.44M | 37.03M | 38.21M | 42.99M | 61.86M | 74.96M | 71.27M | 70.94M |
| Other Assets | 3.68M | 2.15M | 4.71M | 6.04M | 6.41M | 6.09M | 98.35M | 8.69M |
| Total Liabilities | 272.15M | 307.89M | 324.84M | 394.56M | 433.81M | 681.11M | 886.51M | 1.05B |
| Total Debt | 137.96M | 154.44M | 157.59M | 164.6M | 170.79M | 329.26M | 338.07M | 6.35M |
| Net Debt | 51.47M | -52.87M | -309M | -244.95M | -32.12M | -103.6M | -239.87M | -699.23M |
| Long-Term Debt | 137.96M | 144.17M | 150.62M | 160.9M | 161.81M | 321.43M | 323.18M | 6.35M |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 1.21M | 1.96M | 0 |
| Total Current Liabilities | 130.26M | 153.45M | 167.25M | 229.96M | 263.02M | 351.85M | 476.53M | 724.76M |
| Accounts Payable | 117.73M | 128.28M | 17.43M | 171.92M | 170.07M | 242.5M | 474.57M | 0 |
| Deferred Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 0 | 0 | 0 | 0 | 34.11M | 38.72M | 0 | 724.76M |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Liabilities | 3.94M | 0 | 0 | 0 | 0 | 0 | 73.87M | 323.62M |
| Total Equity | -78.71M▲ 0% | 30.61M▲ 138.9% | 306.06M▲ 899.8% | 239.3M▼ 21.8% | 158.07M▼ 33.9% | 100.95M▼ 36.1% | 179.28M▲ 77.6% | 206.88M▲ 0% |
| Equity Growth % | - | 138.89% | 899.82% | -21.81% | -33.95% | -36.13% | 77.58% | 220.34% |
| Shareholders Equity | -78.71M | 30.61M | 306.04M | 238.13M | 156.95M | 99.85M | 179.28M | 206.88M |
| Minority Interest | 0 | 0 | 15K | 1.18M | 1.13M | 1.1M | 0 | 0 |
| Retained Earnings | -78.71M | -379.57M | -582.69M | -732.24M | -880.26M | -1.01B | -1.01B | -997.6M |
| Common Stock | 0 | 164K | 187K | 187K | 189K | 192K | 205K | 207K |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Return on Equity (ROE) | - | -74.89% | -116.01% | -54.84% | -74.5% | -98.86% | -0.52% | 11.5% |
| Return on Assets (ROA) | -23.12% | -8.62% | -40.29% | -23.65% | -24.15% | -18.64% | -0.08% | 1.79% |
| Equity / Assets | -40.69% | 9.04% | 48.51% | 37.75% | 26.71% | 12.91% | 16.82% | 16.4% |
| Debt / Equity | - | 5.05x | 0.51x | 0.69x | 1.08x | 3.26x | 1.89x | 1.89x |
| Book Value per Share | -0.52 | 0.16 | 1.78 | 1.32 | 0.85 | 0.53 | 0.91 | 0.97 |
| Tangible BV per Share | -0.75 | -0.02 | 1.58 | 1.10 | 0.63 | 0.32 | 0.72 | 0.80 |
ALHC Cash Flow Statement
Alignment Healthcare, Inc. (ALHC) cash flow — operating, investing & free cash flow history
| Line item | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|
| Cash from Operations | 9.21M | 7.56M | -78.78M | -45.43M | -59.19M | 34.77M | 139.93M | 139.93M |
| Operating CF Growth % | - | -17.89% | -1141.87% | 42.33% | -30.29% | 158.75% | 302.44% | 671.91% |
| Operating CF / Revenue % | 1.22% | 0.79% | -6.75% | -3.17% | -3.25% | 1.29% | 3.54% | 3.29% |
| Net Income | -44.73M | -22.93M | -195.29M | -149.64M | -148.17M | -128.07M | -724K | 19.81M |
| Depreciation & Amortization | 16.58M | 15.46M | 16.03M | 17.49M | 21.67M | 27.06M | 30.48M | 30.72M |
| Stock-Based Compensation | 1.16M | 2.12M | 110.6M | 81.72M | 66.83M | 71.13M | 62.08M | 58.91M |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 7.21M | 9.65M | 9.29M | 10.56M | -1.54M | 3.75M | 2.58M | 109.71M |
| Working Capital Changes | 29M | 3.25M | -19.42M | -5.55M | 2.03M | 60.89M | 45.51M | 32.86M |
| Cash from Investing | -10.24M | -16.36M | -20.82M | -28.22M | -147.26M | 39.19M | -14.97M | -10.93M |
| Capital Expenditures | -10.24M | -15.71M | -18.36M | -23.77M | -35.99M | -41.42M | -26.78M | -15.37M |
| Acquisitions | 0 | 0 | 0 | -4.04M | 0 | 0 | 1.14M | 1.14M |
| Purchase of Investments | -320K | -1.57M | -2.48M | -2.83M | -379.06M | -82.2M | -65.63M | -58.33M |
| Sale/Maturity of Investments | 325K | 825K | 1.43M | 2.42M | 267.79M | 162.79M | 76.3M | 72.14M |
| Other Investing | 0 | 100K | -1.41M | 0 | 0 | 14K | 0 | -10.53M |
| Cash from Financing | 52.66M | 130.12M | 360.13M | 16.59M | 105K | 156.03M | 18.04M | 18.38M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | -1.98M | -1.5M | -1.47M | 0 | 0 | -350K | 0 | 0 |
| Stock Issued | 500K | 135M | 390.6M | 0 | 0 | 0 | 18.07M | 20.03M |
| Debt Issuance (Net) | 1000K | 0 | 0 | 1000K | 0 | 1000K | 0 | 0 |
| Other Financing | -854K | -3.37M | -29M | -5.23M | 105K | -8.62M | -26K | -1.66M |
| Net Change in Cash | 51.63M▲ 0% | 121.33M▲ 135.0% | 260.54M▲ 114.7% | -57.05M▼ 121.9% | -206.34M▼ 261.7% | 229.99M▲ 211.5% | 142.99M▼ 37.8% | 259.44M▲ 0% |
| Exchange Rate Effect | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1K |
| Cash at Beginning | 34.85M | 86.48M | 207.81M | 468.35M | 411.3M | 204.95M | 434.94M | 577.94M |
| Cash at End | 86.48M | 207.81M | 468.35M | 411.3M | 204.95M | 434.94M | 577.94M | 707.71M |
| Free Cash Flow | -1.04M▲ 0% | -8.15M▼ 685.6% | -97.14M▼ 1092.3% | -69.2M▲ 28.8% | -95.18M▼ 37.5% | -6.65M▲ 93.0% | 113.15M▲ 1802.0% | 236.63M▲ 0% |
| FCF Growth % | - | -685.63% | -1092.29% | 28.76% | -37.54% | 93.02% | 1801.96% | 1140.5% |
| FCF Margin % | -0.14% | -0.85% | -8.32% | -4.83% | -5.22% | -0.25% | 2.87% | 5.56% |
| FCF per Share | -0.01 | -0.04 | -0.56 | -0.38 | -0.51 | -0.03 | 0.57 | 0.57 |
ALHC Key Ratios
Alignment Healthcare, Inc. (ALHC) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|
| Combined Ratio | 100.55% | 115.25% | 108.97% | 107.01% | 103.76% | 99.63% | 73.36% |
| Medical Cost Ratio | 82.67% | 88.98% | 87.15% | 88.98% | 89.03% | 87.63% | 62% |
| Return on Equity (ROE) | -74.89% | -116.01% | -54.84% | -74.5% | -98.86% | -0.52% | 11.5% |
| Return on Assets (ROA) | -8.62% | -40.29% | -23.65% | -24.15% | -18.64% | -0.08% | 1.79% |
| Equity / Assets | 9.04% | 48.51% | 37.75% | 26.71% | 12.91% | 16.82% | 16.4% |
| Book Value / Share | 0.16 | 1.78 | 1.32 | 0.85 | 0.53 | 0.91 | 0.97 |
| Debt / Equity | 5.05x | 0.51x | 0.69x | 1.08x | 3.26x | 1.89x | 1.89x |
| Revenue Growth | 26.72% | 21.74% | 22.81% | 27.16% | 48.25% | 46.06% | 41.81% |
ALHC SEC Filings & Documents
Alignment Healthcare, Inc. (ALHC) SEC filings — annual & quarterly reports (10-K, 10-Q)
ALHC Frequently Asked Questions
Alignment Healthcare, Inc. (ALHC) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Alignment Healthcare, Inc. (ALHC) grew revenue by 46.1% over the past year. This is strong growth.
Yes, Alignment Healthcare, Inc. (ALHC) is profitable, generating $19.8M in net income for fiscal year 2025 (-0.0% net margin).
Dividend & Returns
Alignment Healthcare, Inc. (ALHC) has a return on equity (ROE) of -0.5%. Negative ROE indicates the company is unprofitable.
Industry Metrics
Alignment Healthcare, Inc. (ALHC) has a combined ratio of 99.6%. A ratio below 100% indicates underwriting profitability.
Explore More ALHC
Alignment Healthcare, Inc. (ALHC) financial analysis — history, returns, DCA and operating performance tools
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Revenue History
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Financial Ratios
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Valuation
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