NASDAQ : ALHC
Alignment Healthcare, Inc. — Financial statements
Healthcare · Healthcare Plans · United States
Last price 7.27 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 1.52B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Premiums & Annuity Revenue | 4.91B | 3.91B | 2.67B | 1.80B | 1.43B | 1.17B |
| Other Revenue | 36.69M | 37.00M | 31.63M | 22.70M | 2.61M | 688.00K |
| Total Revenue | 4.94B | 3.95B | 2.70B | 1.82B | 1.43B | 1.17B |
| Policy Benefits | 4.35B | 3.46B | 2.41B | 1.62B | 1.25B | 1.04B |
| Depreciation & Amortization | 31.66M | 29.80M | 26.27M | 21.41M | 17.27M | 15.81M |
| Selling, General & Administrative | 514.49M | 442.49M | 369.81M | 307.43M | 295.65M | 290.99M |
| Total Operating Expenses | 4.90B | 3.93B | 2.80B | 1.95B | 1.56B | 1.35B |
| Operating Income | 43.28M | 16.27M | -98.59M | -127.82M | -128.64M | -178.07M |
| Interest Expense | -16.57M | -15.80M | -23.55M | -21.23M | -18.29M | -17.44M |
| Other Non Operating Income (Expenses) | 17.00K | 63.00K | 564.00K | -75.00K | 229.00K | |
| EBT Excluding Unusual Items | 26.71M | 483.00K | -122.08M | -148.48M | -147.00M | -195.29M |
| Merger & Restructuring Charges | -2.36M | |||||
| Impairment of Goodwill | 34.00K | -600.00K | ||||
| Gain (Loss) on Sale of Assets | 1.00K | 72.00K | 9.00K | 289.00K | -101.00K | |
| Asset Writedown | -600.00K | |||||
| Legal Settlements | 214.00K | -913.00K | ||||
| Other Unusual Items | -3.02M | -2.20M | ||||
| Pretax Income | 26.96M | -958.00K | -128.05M | -148.19M | -149.30M | -195.29M |
| Income Tax Expense | -1.96M | 20.00K | 21.00K | -22.00K | 339.00K | |
| Earnings From Continuing Ops. | 28.92M | -978.00K | -128.07M | -148.17M | -149.64M | -195.29M |
| Minority Interest in Earnings | 254.00K | 36.00K | 156.00K | 92.00K | ||
| Net Income | 28.92M | -724.00K | -128.03M | -148.02M | -149.55M | -195.29M |
| Net Income to Common | 28.92M | -724.00K | -128.03M | -148.02M | -149.55M | -195.29M |
| Shares Outstanding (Basic) | 205.60M | 198.01M | 190.79M | 186.21M | 181.21M | 171.96M |
| Shares Outstanding (Diluted) | 205.60M | 198.01M | 190.79M | 186.21M | 181.21M | 171.96M |
| EPS (Basic) | 0.14 | -0.00 | -0.67 | -0.79 | -0.83 | -1.14 |
| EPS (Diluted) | 0.14 | -0.00 | -0.67 | -0.79 | -0.83 | -1.14 |
| Free Cash Flow | 77.04M | 113.15M | -6.65M | -95.18M | -69.20M | -98.54M |
| Free Cash Flow Per Share | 0.38 | 0.57 | -0.04 | -0.51 | -0.38 | -0.57 |
| Operating Margin | 0.88% | 0.41% | -3.65% | -7.01% | -8.97% | -15.25% |
| Profit Margin | 0.58% | -0.02% | -4.74% | -8.12% | -10.43% | -16.72% |
| Free Cash Flow Margin | 1.56% | 2.86% | -0.25% | -5.22% | -4.83% | -8.44% |
| EBITDA | 74.94M | 46.11M | -72.17M | -106.15M | -111.15M | -162.04M |
| EBITDA Margin | 1.52% | 1.17% | -2.67% | -5.82% | -7.75% | -13.88% |
| D&A For EBITDA | 31.67M | 29.85M | 26.42M | 21.67M | 17.49M | 16.03M |
| EBIT | 43.28M | 16.27M | -98.59M | -127.82M | -128.64M | -178.07M |
| EBIT Margin | 0.88% | 0.41% | -3.65% | -7.01% | -8.97% | -15.25% |
| Revenue as Reported | 4.94B | 3.95B | 2.70B | 1.82B | 1.43B | 1.17B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Total Investments | 15.26M | 28.41M | 37.79M | 115.91M | ||
| Cash & Equivalents | 727.69M | 575.82M | 432.86M | 202.90M | 409.55M | 466.60M |
| Other Receivables | 242.54M | 321.57M | 179.69M | 119.75M | 92.89M | 58.51M |
| Property, Plant & Equipment | 73.64M | 71.27M | 74.96M | 61.86M | 42.99M | 38.21M |
| Goodwill | 32.06M | 32.06M | 34.83M | 34.83M | 34.81M | 29.30M |
| Other Intangible Assets | 4.55M | 4.55M | 4.55M | 5.25M | 5.48M | 5.81M |
| Other Current Assets | 192.81M | 25.78M | 11.30M | 44.97M | 42.11M | 27.75M |
| Other Long-Term Assets | 8.30M | 6.33M | 6.09M | 6.41M | 6.04M | 4.71M |
| Total Assets | 1.30B | 1.07B | 782.06M | 591.88M | 633.86M | 630.89M |
| Accounts Payable | 34.56M | 30.41M | 20.91M | 21.79M | 28.09M | 13.72M |
| Accrued Expenses | 654.49M | 523.58M | 329.72M | 239.51M | 197.67M | 149.81M |
| Current Portion of Leases | 1.96M | 1.21M | 1.72M | 4.20M | 3.71M | |
| Long-Term Debt | 324.50M | 323.18M | 321.43M | 161.81M | 160.90M | 150.62M |
| Long-Term Leases | 6.20M | 6.47M | 7.83M | 8.97M | 3.70M | 6.97M |
| Other Current Liabilities | 913.00K | |||||
| Total Liabilities | 1.02B | 886.51M | 681.11M | 433.81M | 394.56M | 324.84M |
| Common Stock | 209.00K | 205.00K | 192.00K | 189.00K | 187.00K | 187.00K |
| Additional Paid-In Capital | 1.25B | 1.19B | 1.11B | 1.04B | 970.18M | 888.55M |
| Retained Earnings | -969.09M | -1.01B | -1.01B | -880.26M | -732.24M | -582.69M |
| Total Common Equity | 277.11M | 179.28M | 99.85M | 156.95M | 238.13M | 306.04M |
| Minority Interest | 1.10M | 1.12M | 1.18M | 15.00K | ||
| Shareholders' Equity | 277.11M | 179.28M | 100.95M | 158.07M | 239.30M | 306.06M |
| Total Liabilities & Equity | 1.30B | 1.07B | 782.06M | 591.88M | 633.86M | 630.89M |
| Filing Date Shares Outstanding | 209.27M | 204.30M | 191.83M | 188.98M | 187.28M | 187.07M |
| Total Common Shares Outstanding | 209.15M | 204.15M | 191.78M | 188.95M | 187.28M | 187.19M |
| Total Debt | 330.70M | 331.60M | 330.48M | 172.50M | 168.80M | 161.30M |
| Net Cash (Debt) | 397.00M | 244.22M | 102.38M | 30.40M | 240.75M | 305.30M |
| Net Cash Per Share | 1.93 | 1.23 | 0.54 | 0.16 | 1.33 | 1.78 |
| Book Value Per Share | 1.32 | 0.88 | 0.52 | 0.83 | 1.27 | 1.63 |
| Tangible Book Value | 240.50M | 142.67M | 60.48M | 116.87M | 197.84M | 270.92M |
| Tangible Book Value Per Share | 1.15 | 0.70 | 0.32 | 0.62 | 1.06 | 1.45 |
| Machinery | 20.30M | 18.15M | 16.91M | 15.84M | 15.44M | 13.58M |
| Construction In Progress | 1.52M | 983.00K | 14.05M | 4.53M | 1.03M | 753.00K |
| Leasehold Improvements | 6.25M | 6.22M | 6.23M | 6.35M | 6.56M | 6.20M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 28.92M | -724.00K | -128.03M | -148.02M | -149.55M | -195.29M |
| Depreciation & Amortization | 31.67M | 29.85M | 26.42M | 21.67M | 17.49M | 16.03M |
| Other Amortization | 2.23M | 1.76M | 1.29M | 1.25M | 1.85M | |
| Gain (Loss) on Sale of Assets | -1.00K | -72.00K | -9.00K | -289.00K | 611.00K | |
| Gain (Loss) on Sale of Investments | -735.00K | -1.30M | -2.58M | -4.92M | ||
| Stock-Based Compensation | 62.80M | 62.08M | 71.13M | 66.83M | 81.72M | 110.60M |
| Change in Accounts Receivable | -23.69M | -100.11M | -34.28M | -26.95M | -34.38M | -17.61M |
| Change in Accounts Payable | 183.00K | 10.36M | -1.46M | -6.35M | 13.74M | 437.00K |
| Change in Other Net Operating Assets | 3.80M | 135.25M | 96.63M | 35.32M | 15.08M | -2.25M |
| Other Operating Activities | 1.87M | 1.35M | 4.75M | 2.16M | 7.86M | 9.18M |
| Operating Cash Flow | 108.02M | 139.93M | 34.77M | -59.19M | -45.43M | -78.78M |
| Capital Expenditures | -30.98M | -26.78M | -41.42M | -35.99M | -23.77M | -19.77M |
| Sale of Property, Plant & Equipment | 75.00K | 14.00K | ||||
| Cash Acquisitions | -4.04M | |||||
| Investment in Securities | 11.49M | 10.67M | 80.59M | -111.27M | -400.00K | -1.05M |
| Investing Cash Flow | -19.49M | -14.97M | 39.19M | -147.26M | -28.22M | -20.82M |
| Long-Term Debt Issued | 380.00M | 165.00M | ||||
| Total Debt Repaid | -215.00M | -143.18M | ||||
| Net Debt Issued (Repaid) | 165.00M | 21.82M | ||||
| Issuance of Common Stock | 23.53M | 18.07M | 155.00K | 390.60M | ||
| Repurchases of Common Stock | -350.00K | -1.47M | ||||
| Other Financing Activities | -2.40M | -26.00K | -8.78M | 105.00K | -5.23M | -29.00M |
| Financing Cash Flow | 21.13M | 18.04M | 156.03M | 105.00K | 16.59M | 360.13M |
| Net Cash Flow | 109.66M | 142.99M | 229.99M | -206.34M | -57.05M | 260.54M |
| Free Cash Flow | 77.04M | 113.15M | -6.65M | -95.18M | -69.20M | -98.54M |
| Free Cash Flow Margin | 1.56% | 2.86% | -0.25% | -5.22% | -4.83% | -8.44% |
| Free Cash Flow Per Share | 0.38 | 0.57 | -0.04 | -0.51 | -0.38 | -0.57 |
| Levered Free Cash Flow | 77.02M | 124.50M | 122.27M | -149.48M | -1.07M | -19.39M |
| Unlevered Free Cash Flow | 85.14M | 132.61M | 135.69M | -137.47M | 8.51M | -8.48M |
| Cash Interest Paid | 14.03M | 13.75M | 22.16M | 19.16M | 22.45M | 10.99M |
| Cash Income Tax Paid | 25.00K | 25.00K | 20.00K | 205.00K | ||
| Change in Working Capital | -19.71M | 45.51M | 60.89M | 2.03M | -5.55M | -19.42M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 1.52B | 3.95B | 2.16B | 1.63B | 2.20B | 2.63B |
| Enterprise Value | 1.12B | 3.66B | 2.04B | 1.41B | 1.80B | 2.29B |
| PS Ratio | 0.31 | 1.00 | 0.80 | 0.89 | 1.54 | 2.25 |
| PB Ratio | 5.49 | 22.04 | 21.36 | 10.30 | 9.20 | 8.60 |
| P/FCF Ratio | 19.75 | 34.93 | ||||
| P/OCF Ratio | 14.08 | 28.24 | 62.02 | |||
| EV/Sales Ratio | 0.23 | 0.93 | 0.75 | 0.77 | 1.25 | 1.96 |
| EV/EBITDA Ratio | 15.00 | 79.44 | ||||
| EV/EBIT Ratio | 25.98 | 225.23 | ||||
| EV/FCF Ratio | 14.60 | 32.38 | ||||
| Debt / Equity Ratio | 1.19 | 1.85 | 3.27 | 1.09 | 0.70 | 0.53 |
| Debt / EBITDA Ratio | 4.25 | 6.77 | ||||
| Debt / FCF Ratio | 4.29 | 2.93 | ||||
| Net Debt / Equity Ratio | -1.43 | -1.36 | -1.01 | -0.19 | -1.01 | -1.00 |
| Net Debt / EBITDA Ratio | -5.30 | -5.30 | 1.42 | 0.29 | 2.17 | 1.88 |
| Net Debt / FCF Ratio | -5.15 | -2.16 | 15.40 | 0.32 | 3.48 | 3.10 |
| Quick Ratio | 1.43 | 1.66 | 1.85 | 1.67 | 2.19 | 3.14 |
| Current Ratio | 1.71 | 1.71 | 1.88 | 1.84 | 2.37 | 3.31 |
| Asset Turnover | 4.12 | 4.27 | 3.94 | 2.98 | 2.27 | 2.41 |
| Return on Equity (ROE) | 13.18% | -0.70% | -98.89% | -74.58% | -54.88% | -116.01% |
| Return on Assets (ROA) | 2.25% | 1.10% | -8.97% | -13.04% | -12.71% | -22.96% |
| Earnings Yield | 1.93% | -0.02% | -5.94% | -9.09% | -6.79% | -7.42% |
| FCF Yield | 5.06% | 2.86% | -0.31% | -5.85% | -3.14% | -3.74% |
| Buyback Yield / Dilution | -5.04% | -3.78% | -2.46% | -2.76% | -5.38% | -13.03% |