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Alight Inc. Financials

ALIT
Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE December

This page shows Alight Inc. (ALIT) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 7 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).

Rhea AI ALIT FY2025

Alight’s 2025 story is a non-cash balance-sheet reset: reported losses exploded even while the underlying operation kept producing positive free cash flow.

The latest year’s -136.9% net margin did not behave like a cash loss, because operating cash flow stayed positive at $360M and free cash flow remained positive as well. With goodwill collapsing from $3.2B to $83M, the results look dominated by a non-cash asset reset rather than by cash leaving the business.

Across the last four annual periods, gross margin stayed in a narrow band between 31.1% and 34.1%. That stability says the core service work did not suddenly become uneconomic; the persistent drag sits below gross profit, where overhead, amortization, and interest keep erasing the spread and limiting reported earnings.

Cash conversion is the cleaner operating lens: the latest year turned $360M of operating cash flow into $250M of free cash flow, which suggests maintenance capital intensity is not especially heavy. Yet the balance sheet is less forgiving than before, because debt-to-equity moved from 0.5x to 1.9x as the equity base shrank after the write-down rather than because borrowings surged.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 27 / 100
Financial Profile 27/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Alight Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability
0

Alight Inc. has an operating margin of -136.6%, meaning the company retains $-137 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 down from -3.9% the prior year.

Growth
29

Alight Inc.'s revenue declined 3% year-over-year, from $2.3B to $2.3B. This contraction results in a growth score of 29/100.

Leverage
63

Alight Inc. has a moderate D/E ratio of 1.90. This balance of debt and equity financing earns a leverage score of 63/100.

Liquidity
21

Alight Inc.'s current ratio of 1.31 is below the typical benchmark, resulting in a score of 21/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Cash Flow
48

Alight Inc. has a free cash flow margin of 11.1%, earning a moderate score of 48/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns
0

Alight Inc. generates a -296.6% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -3.6% the prior year.

Piotroski F-Score Weak
3/9

Alight Inc. passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.

Earnings Quality Mixed
-0.12x

For every $1 of reported earnings, Alight Inc. generates $-0.12 in operating cash flow ($360.0M OCF vs -$3.1B net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage At Risk
-24.3x

Alight Inc. earns $-24.3 in operating income for every $1 of interest expense (-$3.1B vs $127.0M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue
$2.3B
YoY-3.0%
5Y CAGR-3.7%

Alight Inc. generated $2.3B in revenue in fiscal year 2025. This represents a decrease of 3.0% from the prior year.

EBITDA
-$2.8B
YoY-1436.8%

Alight Inc.'s EBITDA was -$2.8B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 1436.8% from the prior year.

Net Income
-$3.1B
YoY-1872.6%

Alight Inc. reported -$3.1B in net income in fiscal year 2025. This represents a decrease of 1872.6% from the prior year.

EPS (Diluted)
$-5.87
YoY-1924.1%

Alight Inc. earned $-5.87 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 1924.1% from the prior year.

Cash & Balance Sheet

Free Cash Flow
$250.0M
YoY+90.8%

Alight Inc. generated $250.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 90.8% from the prior year.

Cash & Debt
$273.0M
YoY-20.4%
5Y CAGR-11.6%

Alight Inc. held $273.0M in cash against $2.0B in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
N/A

Margins & Returns

Gross Margin
33.8%
YoY-0.2pp

Alight Inc.'s gross margin was 33.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 0.2 percentage points from the prior year.

Operating Margin
-136.6%
YoY-132.7pp
5Y CAGR-142.0pp

Alight Inc.'s operating margin was -136.6% in fiscal year 2025, reflecting core business profitability. This is down 132.7 percentage points from the prior year.

Net Margin
-136.9%
YoY-130.2pp

Alight Inc.'s net profit margin was -136.9% in fiscal year 2025, showing the share of revenue converted to profit. This is down 130.2 percentage points from the prior year.

Return on Equity
-296.6%
YoY-293.0pp

Alight Inc.'s ROE was -296.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 293.0 percentage points from the prior year.

Capital Allocation

R&D Spending
N/A
Share Buybacks
$65.0M
YoY-61.1%

Alight Inc. spent $65.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 61.1% from the prior year.

Capital Expenditures
$110.0M
YoY-9.1%

Alight Inc. invested $110.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 9.1% from the prior year.

ALIT Income Statement

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Revenue $534.0M-18.2% $653.0M+22.5% $533.0M+0.9% $528.0M-3.6% $548.0M-19.4% $680.0M+22.5% $555.0M+3.2% $538.0M
Cost of Revenue $347.0M-9.4% $383.0M+17.1% $327.0M+0.6% $325.0M-7.4% $351.0M-8.4% $383.0M+7.0% $358.0M+3.8% $345.0M
Gross Profit $156.0M-35.0% $240.0M+34.8% $178.0M+1.1% $176.0M+2.9% $171.0M-36.9% $271.0M+55.7% $174.0M+4.2% $167.0M
R&D Expenses N/A N/A N/A N/A N/A N/A N/A N/A
SG&A Expenses $105.0M-7.9% $114.0M+31.0% $87.0M-33.1% $130.0M+25.0% $104.0M-31.1% $151.0M+6.3% $142.0M-2.7% $146.0M
Operating Income -$22.0M+97.1% -$750.0M+43.3% -$1.3B-30.9% -$1.0B-12525.0% -$8.0M-118.2% $44.0M+204.8% -$42.0M+19.2% -$52.0M
Interest Expense $28.0M-9.7% $31.0M-3.1% $32.0M0.0% $32.0M0.0% $32.0M-68.9% $103.0M+442.1% $19.0M-42.4% $33.0M
Income Tax -$7.0M-103.2% $220.0M+211.1% -$198.0M-6500.0% -$3.0M0.0% -$3.0M-111.5% $26.0M+388.9% -$9.0M-550.0% $2.0M
Net Income -$19.0M+98.0% -$932.0M+12.7% -$1.1B+0.6% -$1.1B-4192.0% -$25.0M-412.5% $8.0M+110.8% -$74.0M-421.7% $23.0M
EPS (Diluted) $-0.04 N/A $-2.02+0.5% $-2.03-3960.0% $-0.05 N/A $-0.14-450.0% $0.04

ALIT Balance Sheet

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Total Assets $4.3B-5.0% $4.6B-17.5% $5.5B-18.3% $6.8B-14.4% $7.9B-3.4% $8.2B-0.9% $8.3B-21.0% $10.5B
Current Assets $981.0M-14.1% $1.1B+13.5% $1.0B-0.7% $1.0B-4.6% $1.1B-16.2% $1.3B+5.5% $1.2B-65.1% $3.4B
Cash & Equivalents $178.0M-34.8% $273.0M+33.2% $205.0M-9.7% $227.0M+1.8% $223.0M-35.0% $343.0M+14.3% $300.0M+63.9% $183.0M
Inventory N/A N/A N/A N/A N/A N/A N/A N/A
Accounts Receivable $359.0M-7.2% $387.0M-3.0% $399.0M-2.9% $411.0M-6.2% $438.0M-7.0% $471.0M+4.0% $453.0M+21.8% $372.0M
Goodwill $83.0M0.0% $83.0M-90.6% $886.0M-60.3% $2.2B-30.6% $3.2B0.0% $3.2B0.0% $3.2B0.0% $3.2B
Total Liabilities $3.3B-6.0% $3.5B-0.3% $3.5B-3.3% $3.7B-0.7% $3.7B-5.2% $3.9B-1.6% $3.9B-34.2% $6.0B
Current Liabilities $693.0M-20.7% $874.0M+5.4% $829.0M-4.7% $870.0M-3.4% $901.0M+1.0% $892.0M-3.7% $926.0M-63.2% $2.5B
Long-Term Debt $2.0B-0.3% $2.0B-0.3% $2.0B-0.3% $2.0B-0.2% $2.0B-0.1% $2.0B-0.3% $2.0B-18.2% $2.5B
Total Equity $1.0B-1.6% $1.0B-47.9% $2.0B-35.8% $3.1B-26.3% $4.2B-1.9% $4.3B-0.3% $4.3B-3.4% $4.5B
Retained Earnings -$3.8B-0.5% -$3.8B-33.0% -$2.8B-60.7% -$1.8B-156.6% -$685.0M-3.8% -$660.0M+1.2% -$668.0M-12.5% -$594.0M

ALIT Cash Flow Statement

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Operating Cash Flow $79.0M-36.3% $124.0M+61.0% $77.0M-10.5% $86.0M+17.8% $73.0M-38.1% $118.0M+591.7% -$24.0M-141.4% $58.0M
Capital Expenditures $26.0M+4.0% $25.0M-10.7% $28.0M0.0% $28.0M-3.4% $29.0M+11.5% $26.0M-7.1% $28.0M-22.2% $36.0M
Free Cash Flow $53.0M-46.5% $99.0M+102.0% $49.0M-15.5% $58.0M+31.8% $44.0M-52.2% $92.0M+276.9% -$52.0M-336.4% $22.0M
Investing Cash Flow -$26.0M-4.0% -$25.0M+39.0% -$41.0M-46.4% -$28.0M+3.4% -$29.0M+3.3% -$30.0M-103.2% $944.0M+2347.6% -$42.0M
Financing Cash Flow -$156.0M-1460.0% -$10.0M+78.3% -$46.0M+30.3% -$66.0M+62.5% -$176.0M-158.8% -$68.0M+91.3% -$784.0M-429.7% -$148.0M
Dividends Paid $0-100.0% $21.0M-4.5% $22.0M0.0% $22.0M+4.8% $21.0M0.0% $21.0M $0 $0
Share Buybacks $0 $0-100.0% $25.0M+25.0% $20.0M0.0% $20.0M+66.7% $12.0M-84.0% $75.0M-6.3% $80.0M

ALIT Financial Ratios

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Gross Margin 29.2%-7.5pp 36.8%+3.3pp 33.4%+0.1pp 33.3%+2.1pp 31.2%-8.7pp 39.9%+8.5pp 31.4%+0.3pp 31.0%
Operating Margin -4.1%+110.7pp -114.9%+133.2pp -248.0%-56.7pp -191.3%-189.8pp -1.5%-7.9pp 6.5%+14.0pp -7.6%+2.1pp -9.7%
Net Margin -3.6%+139.2pp -142.7%+57.5pp -200.2%+3.0pp -203.2%-198.7pp -4.6%-5.7pp 1.2%+14.5pp -13.3%-17.6pp 4.3%
Return on Equity -1.8%+87.4pp -89.3%-36.0pp -53.3%-18.9pp -34.4%-33.8pp -0.6%-0.8pp 0.2%+1.9pp -1.7%-2.2pp 0.5%
Return on Assets -0.4%+20.0pp -20.4%-1.1pp -19.3%-3.4pp -15.8%-15.5pp -0.3%-0.4pp 0.1%+1.0pp -0.9%-1.1pp 0.2%
Current Ratio 1.42+0.1 1.31+0.1 1.21+0.0 1.16-0.0 1.18-0.2 1.42+0.1 1.30-0.1 1.37
Debt-to-Equity 1.93+0.0 1.90+0.9 0.99+0.4 0.64+0.2 0.470.0 0.460.0 0.46-0.1 0.55
FCF Margin 9.9%-5.2pp 15.2%+6.0pp 9.2%-1.8pp 11.0%+2.9pp 8.0%-5.5pp 13.5%+22.9pp -9.4%-13.5pp 4.1%

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Frequently Asked Questions

Alight Inc. (ALIT) reported $2.3B in total revenue for fiscal year 2025. This represents a -3.0% 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.

Alight Inc. (ALIT) revenue declined by 3% year-over-year, from $2.3B to $2.3B in fiscal year 2025.

No, Alight Inc. (ALIT) reported a net income of -$3.1B in fiscal year 2025, with a net profit margin of -136.9%.

Alight Inc. (ALIT) reported diluted earnings per share of $-5.87 for fiscal year 2025. This represents a -1924.1% 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.

Alight Inc. (ALIT) had EBITDA of -$2.8B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2025, Alight Inc. (ALIT) had $273.0M in cash and equivalents against $2.0B in long-term debt.

Alight Inc. (ALIT) had a gross margin of 33.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

Alight Inc. (ALIT) had an operating margin of -136.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Alight Inc. (ALIT) had a net profit margin of -136.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Alight Inc. (ALIT) has a return on equity of -296.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Alight Inc. (ALIT) generated $250.0M in free cash flow during fiscal year 2025. This represents a 90.8% 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.

Alight Inc. (ALIT) generated $360.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Alight Inc. (ALIT) had $4.6B in total assets as of fiscal year 2025, including both current and long-term assets.

Alight Inc. (ALIT) invested $110.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Yes, Alight Inc. (ALIT) spent $65.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Alight Inc. (ALIT) had a current ratio of 1.31 as of fiscal year 2025, which is considered adequate.

Alight Inc. (ALIT) had a debt-to-equity ratio of 1.90 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Alight Inc. (ALIT) had a return on assets of -67.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Alight Inc. (ALIT) has a Piotroski F-Score of 3 out of 9, indicating weak 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Alight Inc. (ALIT) has an earnings quality ratio of -0.12x, 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.

Alight Inc. (ALIT) has an interest coverage ratio of -24.3x, 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.

Alight Inc. (ALIT) scores 27 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.

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