Alignment Healthcare, Inc. Financials
This page shows Alignment Healthcare, Inc. (ALHC) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Alignment Healthcare, Inc. has an operating margin of -3.8%, meaning the company retains $-4 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -7.0% the prior year.
Alignment Healthcare, Inc.'s revenue surged 48.3% year-over-year to $2.7B, reflecting rapid business expansion. This strong growth earns a score of 100/100.
Alignment Healthcare, Inc. has elevated debt relative to equity (D/E of 3.22), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.
Alignment Healthcare, Inc.'s current ratio of 1.88 indicates adequate short-term liquidity, earning a score of 55/100. The company can meet its near-term obligations, though with limited headroom.
While Alignment Healthcare, Inc. generated $34.8M in operating cash flow, capex of $41.4M consumed most of it, leaving -$6.6M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Alignment Healthcare, Inc. passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Alignment Healthcare, Inc. generates $-0.27 in operating cash flow ($34.8M OCF vs -$128.0M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Alignment Healthcare, Inc. earns $-4.3 in operating income for every $1 of interest expense (-$101.6M vs $23.5M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Alignment Healthcare, Inc. generated $2.7B in revenue in fiscal year 2024. This represents an increase of 48.3% from the prior year.
Alignment Healthcare, Inc.'s EBITDA was -$74.7M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 29.8% from the prior year.
Alignment Healthcare, Inc. generated -$6.6M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 93.0% from the prior year.
Alignment Healthcare, Inc. reported -$128.0M in net income in fiscal year 2024. This represents an increase of 13.5% from the prior year.
Alignment Healthcare, Inc. earned $-0.67 per diluted share (EPS) in fiscal year 2024. This represents an increase of 15.2% from the prior year.
Alignment Healthcare, Inc. held $432.9M in cash against $321.4M in long-term debt as of fiscal year 2024.
Alignment Healthcare, Inc. had 192M shares outstanding in fiscal year 2024. This represents an increase of 1.5% from the prior year.
Alignment Healthcare, Inc.'s operating margin was -3.8% in fiscal year 2024, reflecting core business profitability. This is up 3.2 percentage points from the prior year.
Alignment Healthcare, Inc.'s net profit margin was -4.7% in fiscal year 2024, showing the share of revenue converted to profit. This is up 3.4 percentage points from the prior year.
Alignment Healthcare, Inc. invested $41.4M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 15.1% from the prior year.
ALHC Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $993.7M-2.1% | $1.0B+9.5% | $926.9M+32.2% | $701.2M+1.3% | $692.4M+1.6% | $681.3M+8.4% | $628.6M+35.1% | $465.4M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $110.0M+6.0% | $103.8M0.0% | $103.8M+1.7% | $102.1M+12.4% | $90.9M+3.4% | $87.9M-2.9% | $90.5M+8.1% | $83.7M |
| Operating Income | $7.7M-66.2% | $22.7M+521.8% | -$5.4M+76.1% | -$22.5M-15.5% | -$19.5M-6.2% | -$18.4M+55.3% | -$41.1M+1.9% | -$41.9M |
| Interest Expense | $4.0M0.0% | $4.0M0.0% | $4.0M-28.1% | $5.5M-20.8% | $6.9M+21.9% | $5.7M+4.9% | $5.4M-1.0% | $5.5M |
| Income Tax | $2K-99.9% | $3.2M+15252.4% | $21K+200.0% | $7K+187.5% | -$8K-136.4% | $22K | $0+100.0% | -$24K |
| Net Income | $3.7M-76.2% | $15.7M+271.9% | -$9.1M+70.7% | -$31.1M-17.7% | -$26.4M-10.0% | -$24.0M+48.4% | -$46.5M+1.5% | -$47.2M |
| EPS (Diluted) | $0.02-71.4% | $0.07+240.0% | $-0.05+66.7% | $-0.15-7.1% | $-0.14-7.7% | $-0.13+48.0% | $-0.250.0% | $-0.25 |
ALHC Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.1B+10.2% | $1.0B+11.7% | $895.6M+14.5% | $782.1M+13.0% | $692.3M-3.3% | $716.3M+13.1% | $633.2M+7.0% | $591.9M |
| Current Assets | $985.3M+12.0% | $880.1M+13.6% | $774.5M+17.1% | $661.6M+15.3% | $573.6M-4.3% | $599.1M+15.1% | $520.6M+7.7% | $483.5M |
| Cash & Equivalents | $618.1M+31.4% | $470.3M+5.4% | $446.2M+3.1% | $432.9M+27.2% | $340.3M+0.4% | $339.0M+41.9% | $238.9M+17.7% | $202.9M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $219.8M-22.3% | $282.9M+32.2% | $214.1M+39.1% | $153.9M+10.8% | $138.9M-24.2% | $183.2M+11.0% | $165.1M+37.8% | $119.7M |
| Goodwill | $32.1M0.0% | $32.1M-6.2% | $34.2M-1.8% | $34.8M0.0% | $34.8M0.0% | $34.8M0.0% | $34.8M0.0% | $34.8M |
| Total Liabilities | $940.7M+9.5% | $859.2M+9.2% | $786.6M+15.5% | $681.1M+18.1% | $576.7M-2.5% | $591.5M+18.0% | $501.2M+15.5% | $433.8M |
| Current Liabilities | $611.1M+15.4% | $529.5M+15.8% | $457.1M+29.9% | $351.8M-1.7% | $358.1M-3.6% | $371.5M+12.3% | $330.7M+25.7% | $263.0M |
| Long-Term Debt | $322.7M+0.1% | $322.3M+0.1% | $321.9M+0.1% | $321.4M+52.8% | $210.4M-0.6% | $211.7M+30.7% | $162.0M+0.1% | $161.8M |
| Total Equity | $161.9M+14.8% | $141.0M+30.4% | $108.1M+8.3% | $99.9M-12.8% | $114.5M-7.4% | $123.7M-5.5% | $130.9M-16.6% | $156.9M |
| Retained Earnings | -$998.0M+0.4% | -$1.0B+1.5% | -$1.0B-0.9% | -$1.0B-3.2% | -$977.2M-2.8% | -$950.8M-2.6% | -$926.8M-5.3% | -$880.3M |
ALHC Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $144.6M+396.2% | $29.1M+75.3% | $16.6M+290.7% | -$8.7M-133.3% | $26.2M+11.3% | $23.5M+477.2% | -$6.2M+96.7% | -$187.5M |
| Capital Expenditures | $5.5M-31.3% | $8.0M-3.0% | $8.3M-11.1% | $9.3M0.0% | $9.3M-20.9% | $11.7M+5.5% | $11.1M+4.9% | $10.6M |
| Free Cash Flow | $139.1M+558.2% | $21.1M+152.6% | $8.4M+146.5% | -$18.0M-206.4% | $16.9M+43.4% | $11.8M+168.0% | -$17.4M+91.2% | -$198.1M |
| Investing Cash Flow | $2.3M+134.7% | -$6.7M-92.5% | -$3.5M+41.5% | -$5.9M+75.9% | -$24.6M-191.1% | $27.0M-36.9% | $42.7M+4295.0% | -$1.0M |
| Financing Cash Flow | $948K-41.3% | $1.6M+792.8% | $181K-99.8% | $106.9M | $0-100.0% | $49.5M+14872.5% | -$335K-844.4% | $45K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
ALHC Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | 0.8%-1.5pp | 2.2%+2.8pp | -0.6%+2.6pp | -3.2%-0.4pp | -2.8%-0.1pp | -2.7%+3.8pp | -6.5%+2.5pp | -9.0% |
| Net Margin | 0.4%-1.2pp | 1.5%+2.5pp | -1.0%+3.5pp | -4.4%-0.6pp | -3.8%-0.3pp | -3.5%+3.9pp | -7.4%+2.7pp | -10.1% |
| Return on Equity | 2.3%-8.8pp | 11.1% | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | 0.3%-1.2pp | 1.6%+2.6pp | -1.0%+3.0pp | -4.0%-0.2pp | -3.8%-0.5pp | -3.4%+4.0pp | -7.3%+0.6pp | -8.0% |
| Current Ratio | 1.61-0.0 | 1.66-0.0 | 1.69-0.2 | 1.88+0.3 | 1.60-0.0 | 1.61+0.0 | 1.57-0.3 | 1.84 |
| Debt-to-Equity | 1.99-0.3 | 2.29-0.7 | 2.98-0.2 | 3.22+1.4 | 1.84+0.1 | 1.71+0.5 | 1.24+0.2 | 1.03 |
| FCF Margin | 14.0%+11.9pp | 2.1%+1.2pp | 0.9%+3.5pp | -2.6%-5.0pp | 2.4%+0.7pp | 1.7%+4.5pp | -2.8%+39.8pp | -42.6% |
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Frequently Asked Questions
What is Alignment Healthcare, Inc.'s annual revenue?
Alignment Healthcare, Inc. (ALHC) reported $2.7B in total revenue for fiscal year 2024. This represents a 48.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Alignment Healthcare, Inc.'s revenue growing?
Alignment Healthcare, Inc. (ALHC) revenue grew by 48.3% year-over-year, from $1.8B to $2.7B in fiscal year 2024.
Is Alignment Healthcare, Inc. profitable?
No, Alignment Healthcare, Inc. (ALHC) reported a net income of -$128.0M in fiscal year 2024, with a net profit margin of -4.7%.
What is Alignment Healthcare, Inc.'s earnings per share (EPS)?
Alignment Healthcare, Inc. (ALHC) reported diluted earnings per share of $-0.67 for fiscal year 2024. This represents a 15.2% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Alignment Healthcare, Inc.'s EBITDA?
Alignment Healthcare, Inc. (ALHC) had EBITDA of -$74.7M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Alignment Healthcare, Inc. have?
As of fiscal year 2024, Alignment Healthcare, Inc. (ALHC) had $432.9M in cash and equivalents against $321.4M in long-term debt.
What is Alignment Healthcare, Inc.'s operating margin?
Alignment Healthcare, Inc. (ALHC) had an operating margin of -3.8% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Alignment Healthcare, Inc.'s net profit margin?
Alignment Healthcare, Inc. (ALHC) had a net profit margin of -4.7% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Alignment Healthcare, Inc.'s free cash flow?
Alignment Healthcare, Inc. (ALHC) generated -$6.6M in free cash flow during fiscal year 2024. This represents a 93.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Alignment Healthcare, Inc.'s operating cash flow?
Alignment Healthcare, Inc. (ALHC) generated $34.8M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Alignment Healthcare, Inc.'s total assets?
Alignment Healthcare, Inc. (ALHC) had $782.1M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Alignment Healthcare, Inc.'s capital expenditures?
Alignment Healthcare, Inc. (ALHC) invested $41.4M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How many shares does Alignment Healthcare, Inc. have outstanding?
Alignment Healthcare, Inc. (ALHC) had 192M shares outstanding as of fiscal year 2024.
What is Alignment Healthcare, Inc.'s current ratio?
Alignment Healthcare, Inc. (ALHC) had a current ratio of 1.88 as of fiscal year 2024, which is generally considered healthy.
What is Alignment Healthcare, Inc.'s debt-to-equity ratio?
Alignment Healthcare, Inc. (ALHC) had a debt-to-equity ratio of 3.22 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Alignment Healthcare, Inc.'s return on assets (ROA)?
Alignment Healthcare, Inc. (ALHC) had a return on assets of -16.4% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Alignment Healthcare, Inc.'s Piotroski F-Score?
Alignment Healthcare, Inc. (ALHC) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Alignment Healthcare, Inc.'s earnings high quality?
Alignment Healthcare, Inc. (ALHC) has an earnings quality ratio of -0.27x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Alignment Healthcare, Inc. cover its interest payments?
Alignment Healthcare, Inc. (ALHC) has an interest coverage ratio of -4.3x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Alignment Healthcare, Inc.?
Alignment Healthcare, Inc. (ALHC) scores 31 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.