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MARKETS / NASDAQ / ALHC
NASDAQ · HOSPITAL & MEDICAL SERVICE PLANS · LARGE CAP

Alignment Healthcare, Inc. ALHC

7 fiscal years on record · USD · FY2025 reported · SEC filings only
$3.9B
▲ 46.1% YoY
$-724,000
$113.1M
In brief

What this company does

Alignment Healthcare, Inc. contracts its licensed Medicare Advantage plans directly with the Centers for Medicare & Medicaid Services and, in exchange for a capitated, fixed monthly payment for each enrolled member, coordinates and manages its members' healthcare, including their health outcomes and the total costs of their care. As of December 31, 2025, its Health Plan Membership, consisting of members enrolled in its HMO and PPO contracts, totaled 236,300, up from approximately 13,000 at inception. For the 2025 plan year, it offered Medicare Advantage plans in 45 markets across California, North Carolina, Nevada, Arizona, and Texas, which collectively include approximately 8.4 million Medicare-eligible seniors. It employed more than 450 full-time clinical employees, comprising approximately 25% of its full-time workforce. Its Care Anywhere program is staffed by Alignment-employed physicians, advanced practice clinicians, case managers, social workers, and behavioral health coaches. Alignment Healthcare was founded in 2013.

Written from the business description in Alignment Healthcare, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 27 February 2026. Every sentence was checked against that document before publication.

Growth
USD 3.9B
Revenue, FY2025 · full 7-year series below
Revenue $B Net income $B
FY2025 · Revenue 3.9 · Net income -0.0
2B2019202020212022202320242025
Compound annual growth
+40.2%
+32.8%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +32.8% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−0 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating 0.4% · Net -0.0%
-5%-10%-15%2019202020212022202320242025
ROE
FY2025 · ROE -0.5%
-50%-100%2019202020212022202320242025

Each USD of equity lost 1 cents this year.

Cash & shareholders
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 113.1
40M80M-40M-80M2019202020212022202320242025

Total assetsUSD 1.1B
EquityUSD 179.3M
CashUSD 575.8M
Gross debtUSD 323.2M
Net debtUSD -252.6M
Current ratio1.71×

The company holds more cash than debt.

The 7-year record
7 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative
Metric 2025202420232022202120202019
Revenue $B3.92.71.81.41.21.00.8
Operating income $B0.0−0.1−0.1−0.1−0.2−0.0−0.0
EBITDA $B0.0−0.1−0.1−0.1−0.20.0−0.0
Income tax $B0.00.0−0.00.00.00.00.0
Net income $B−0.0−0.1−0.1−0.1−0.2−0.0−0.0
Free cash flow $B0.1−0.0−0.1−0.1···
EPS, diluted $0.00−0.67−0.79−0.83−1.14−0.15−0.33
Dividend / sh $·······
Payout %·······
ROE %−0.5−99.7−74.9−55.0−116.0−74.9·
Shares out B0.200.190.190.190.190.16·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures · 2 divergences in 24 reconciliationsAUDITED

Reconciled in 5 of 19 fiscal years. 2 of those reconciliations are divergences — the figures exist but don't fit the formula this check expects; that isn't the same as an error. 52 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures2 divergent
ActivityHospital & Medical Service Plans
Listed onNASDAQ
Incorporated inDelaware
Fiscal year endsDecember 31
Data on record since2019

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