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Side-by-side financial comparison of Alignment Healthcare, Inc. (ALHC) and AMN HEALTHCARE SERVICES INC (AMN). Click either name above to swap in a different company.
Alignment Healthcare, Inc. is the larger business by last-quarter revenue ($1.0B vs $748.2M, roughly 1.4× AMN HEALTHCARE SERVICES INC). AMN HEALTHCARE SERVICES INC runs the higher net margin — -1.0% vs -1.1%, a 0.1% gap on every dollar of revenue. On growth, Alignment Healthcare, Inc. posted the faster year-over-year revenue change (44.4% vs 1.8%). AMN HEALTHCARE SERVICES INC produced more free cash flow last quarter ($67.6M vs $-55.4M). Over the past eight quarters, Alignment Healthcare, Inc.'s revenue compounded faster (26.9% CAGR vs -4.5%).
Alignment Healthcare, Inc. is a U.S.-based healthcare provider offering Medicare Advantage plans for seniors. It adopts a value-based care model, partnering with local providers to deliver personalized coordinated medical services, prescription drug coverage and supplemental benefits to members across multiple U.S. states.
AMN Healthcare Services Inc. is a leading US healthcare sector workforce solutions and staffing provider. It offers temporary and permanent placement for nurses, physicians, allied health and other clinical/non-clinical staff, plus workforce management tools and consulting for hospitals, clinics and other medical facilities.
ALHC vs AMN — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.0B | $748.2M |
| Net Profit | $-11.0M | $-7.7M |
| Gross Margin | — | 26.1% |
| Operating Margin | -1.0% | 1.1% |
| Net Margin | -1.1% | -1.0% |
| Revenue YoY | 44.4% | 1.8% |
| Net Profit YoY | 64.6% | 95.9% |
| EPS (diluted) | $-0.04 | $-0.19 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $1.0B | $748.2M | ||
| Q3 25 | $993.7M | $634.5M | ||
| Q2 25 | $1.0B | $658.2M | ||
| Q1 25 | $926.9M | $689.5M | ||
| Q4 24 | $701.2M | $734.7M | ||
| Q3 24 | $692.4M | $687.5M | ||
| Q2 24 | $681.3M | $740.7M | ||
| Q1 24 | $628.6M | $820.9M |
| Q4 25 | $-11.0M | $-7.7M | ||
| Q3 25 | $3.7M | $29.3M | ||
| Q2 25 | $15.7M | $-116.2M | ||
| Q1 25 | $-9.1M | $-1.1M | ||
| Q4 24 | $-31.1M | $-187.5M | ||
| Q3 24 | $-26.4M | $7.0M | ||
| Q2 24 | $-24.0M | $16.2M | ||
| Q1 24 | $-46.5M | $17.3M |
| Q4 25 | — | 26.1% | ||
| Q3 25 | — | 29.1% | ||
| Q2 25 | — | 29.8% | ||
| Q1 25 | — | 28.7% | ||
| Q4 24 | — | 29.8% | ||
| Q3 24 | — | 31.0% | ||
| Q2 24 | — | 31.0% | ||
| Q1 24 | — | 31.4% |
| Q4 25 | -1.0% | 1.1% | ||
| Q3 25 | 0.8% | 7.5% | ||
| Q2 25 | 2.2% | -18.8% | ||
| Q1 25 | -0.6% | 1.8% | ||
| Q4 24 | -3.2% | -27.6% | ||
| Q3 24 | -2.8% | 3.2% | ||
| Q2 24 | -2.7% | 5.1% | ||
| Q1 24 | -6.5% | 4.9% |
| Q4 25 | -1.1% | -1.0% | ||
| Q3 25 | 0.4% | 4.6% | ||
| Q2 25 | 1.5% | -17.7% | ||
| Q1 25 | -1.0% | -0.2% | ||
| Q4 24 | -4.4% | -25.5% | ||
| Q3 24 | -3.8% | 1.0% | ||
| Q2 24 | -3.5% | 2.2% | ||
| Q1 24 | -7.4% | 2.1% |
| Q4 25 | $-0.04 | $-0.19 | ||
| Q3 25 | $0.02 | $0.76 | ||
| Q2 25 | $0.07 | $-3.02 | ||
| Q1 25 | $-0.05 | $-0.03 | ||
| Q4 24 | $-0.15 | $-4.90 | ||
| Q3 24 | $-0.14 | $0.18 | ||
| Q2 24 | $-0.13 | $0.42 | ||
| Q1 24 | $-0.25 | $0.45 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $604.2M | $34.0M |
| Total DebtLower is stronger | $323.2M | $767.1M |
| Stockholders' EquityBook value | $179.3M | $642.1M |
| Total Assets | $1.1B | $2.1B |
| Debt / EquityLower = less leverage | 1.80× | 1.19× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $604.2M | $34.0M | ||
| Q3 25 | $644.1M | $52.6M | ||
| Q2 25 | $503.8M | $41.5M | ||
| Q1 25 | $479.5M | $55.8M | ||
| Q4 24 | $470.6M | $10.6M | ||
| Q3 24 | $381.0M | $30.6M | ||
| Q2 24 | $363.7M | $48.0M | ||
| Q1 24 | $301.7M | $50.6M |
| Q4 25 | $323.2M | $767.1M | ||
| Q3 25 | $322.7M | — | ||
| Q2 25 | $322.3M | — | ||
| Q1 25 | $321.9M | — | ||
| Q4 24 | $321.4M | $1.1B | ||
| Q3 24 | $212.0M | — | ||
| Q2 24 | $211.7M | — | ||
| Q1 24 | $162.0M | — |
| Q4 25 | $179.3M | $642.1M | ||
| Q3 25 | $161.9M | $644.4M | ||
| Q2 25 | $141.0M | $607.6M | ||
| Q1 25 | $108.1M | $715.1M | ||
| Q4 24 | $99.9M | $706.6M | ||
| Q3 24 | $114.5M | $890.7M | ||
| Q2 24 | $123.7M | $876.9M | ||
| Q1 24 | $130.9M | $854.2M |
| Q4 25 | $1.1B | $2.1B | ||
| Q3 25 | $1.1B | $2.1B | ||
| Q2 25 | $1.0B | $2.2B | ||
| Q1 25 | $895.6M | $2.4B | ||
| Q4 24 | $782.1M | $2.4B | ||
| Q3 24 | $692.3M | $2.7B | ||
| Q2 24 | $716.3M | $2.8B | ||
| Q1 24 | $633.2M | $2.9B |
| Q4 25 | 1.80× | 1.19× | ||
| Q3 25 | 1.99× | — | ||
| Q2 25 | 2.29× | — | ||
| Q1 25 | 2.98× | — | ||
| Q4 24 | 3.22× | 1.49× | ||
| Q3 24 | 1.85× | — | ||
| Q2 24 | 1.71× | — | ||
| Q1 24 | 1.24× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-50.4M | $75.6M |
| Free Cash FlowOCF − Capex | $-55.4M | $67.6M |
| FCF MarginFCF / Revenue | -5.5% | 9.0% |
| Capex IntensityCapex / Revenue | 0.5% | 1.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $113.1M | $233.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-50.4M | $75.6M | ||
| Q3 25 | $144.6M | $22.7M | ||
| Q2 25 | $29.1M | $78.5M | ||
| Q1 25 | $16.6M | $92.7M | ||
| Q4 24 | $-8.7M | $72.8M | ||
| Q3 24 | $26.2M | $66.7M | ||
| Q2 24 | $23.5M | $99.5M | ||
| Q1 24 | $-6.2M | $81.4M |
| Q4 25 | $-55.4M | $67.6M | ||
| Q3 25 | $139.1M | $14.8M | ||
| Q2 25 | $21.1M | $68.7M | ||
| Q1 25 | $8.4M | $82.7M | ||
| Q4 24 | $-18.0M | $56.6M | ||
| Q3 24 | $16.9M | $47.4M | ||
| Q2 24 | $11.8M | $72.2M | ||
| Q1 24 | $-17.4M | $63.2M |
| Q4 25 | -5.5% | 9.0% | ||
| Q3 25 | 14.0% | 2.3% | ||
| Q2 25 | 2.1% | 10.4% | ||
| Q1 25 | 0.9% | 12.0% | ||
| Q4 24 | -2.6% | 7.7% | ||
| Q3 24 | 2.4% | 6.9% | ||
| Q2 24 | 1.7% | 9.8% | ||
| Q1 24 | -2.8% | 7.7% |
| Q4 25 | 0.5% | 1.1% | ||
| Q3 25 | 0.6% | 1.2% | ||
| Q2 25 | 0.8% | 1.5% | ||
| Q1 25 | 0.9% | 1.4% | ||
| Q4 24 | 1.3% | 2.2% | ||
| Q3 24 | 1.3% | 2.8% | ||
| Q2 24 | 1.7% | 3.7% | ||
| Q1 24 | 1.8% | 2.2% |
| Q4 25 | — | — | ||
| Q3 25 | 38.77× | 0.77× | ||
| Q2 25 | 1.86× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 9.54× | ||
| Q2 24 | — | 6.13× | ||
| Q1 24 | — | 4.70× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ALHC
Segment breakdown not available.
AMN
| Travel Nurse Staffing | $208.3M | 28% |
| Allied Staffing | $146.9M | 20% |
| Labor Disruption Services | $124.3M | 17% |
| Technology And Workforce Solutions | $88.0M | 12% |
| Language Services | $69.9M | 9% |
| Other | $29.6M | 4% |
| International Nurse Staffing | $29.6M | 4% |
| Interim Leadership Staffing | $24.1M | 3% |
| Vendor Management Systems | $16.3M | 2% |
| Local Staffing | $8.6M | 1% |
| International Nurse Permanent Placement | $2.6M | 0% |
