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Side-by-side financial comparison of Alignment Healthcare, Inc. (ALHC) and APA Corporation (APA). Click either name above to swap in a different company.
APA Corporation is the larger business by last-quarter revenue ($2.2B vs $1.2B, roughly 1.8× Alignment Healthcare, Inc.). APA Corporation runs the higher net margin — 15.0% vs 0.9%, a 14.1% gap on every dollar of revenue. On growth, APA Corporation posted the faster year-over-year revenue change (-24.3% vs -74.7%). Over the past eight quarters, Alignment Healthcare, Inc.'s revenue compounded faster (34.6% CAGR vs 1.4%).
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.
APA Corporation, a holding company for Apache Corporation, an American company engaged in hydrocarbon exploration. It is organized in Delaware and headquartered in Houston.
ALHC vs APA — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $2.2B |
| Net Profit | $11.4M | $331.0M |
| Gross Margin | — | — |
| Operating Margin | — | 32.5% |
| Net Margin | 0.9% | 15.0% |
| Revenue YoY | -74.7% | -24.3% |
| Net Profit YoY | — | -22.1% |
| EPS (diluted) | — | $0.79 |
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.
| Q1 26 | $1.2B | — | ||
| Q4 25 | $1.0B | $2.2B | ||
| Q3 25 | $993.7M | $2.3B | ||
| Q2 25 | $1.0B | $2.3B | ||
| Q1 25 | $926.9M | $2.7B | ||
| Q4 24 | $701.2M | $2.9B | ||
| Q3 24 | $692.4M | $2.7B | ||
| Q2 24 | $681.3M | $2.8B |
| Q1 26 | $11.4M | — | ||
| Q4 25 | $-11.0M | $331.0M | ||
| Q3 25 | $3.7M | $205.0M | ||
| Q2 25 | $15.7M | $603.0M | ||
| Q1 25 | $-9.1M | $418.0M | ||
| Q4 24 | $-31.1M | $425.0M | ||
| Q3 24 | $-26.4M | $-223.0M | ||
| Q2 24 | $-24.0M | $541.0M |
| Q1 26 | — | — | ||
| Q4 25 | -1.0% | 32.5% | ||
| Q3 25 | 0.8% | 33.7% | ||
| Q2 25 | 2.2% | 31.8% | ||
| Q1 25 | -0.6% | 31.9% | ||
| Q4 24 | -3.2% | 31.4% | ||
| Q3 24 | -2.8% | -5.2% | ||
| Q2 24 | -2.7% | 34.4% |
| Q1 26 | 0.9% | — | ||
| Q4 25 | -1.1% | 15.0% | ||
| Q3 25 | 0.4% | 9.0% | ||
| Q2 25 | 1.5% | 26.0% | ||
| Q1 25 | -1.0% | 15.4% | ||
| Q4 24 | -4.4% | 14.6% | ||
| Q3 24 | -3.8% | -8.1% | ||
| Q2 24 | -3.5% | 19.0% |
| Q1 26 | — | — | ||
| Q4 25 | $-0.04 | $0.79 | ||
| Q3 25 | $0.02 | $0.57 | ||
| Q2 25 | $0.07 | $1.67 | ||
| Q1 25 | $-0.05 | $0.96 | ||
| Q4 24 | $-0.15 | $0.97 | ||
| Q3 24 | $-0.14 | $-0.60 | ||
| Q2 24 | $-0.13 | $1.46 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $705.6M | $516.0M |
| Total DebtLower is stronger | — | $4.3B |
| Stockholders' EquityBook value | $206.9M | $6.1B |
| Total Assets | $1.3B | $17.8B |
| Debt / EquityLower = less leverage | — | 0.70× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $705.6M | — | ||
| Q4 25 | $604.2M | $516.0M | ||
| Q3 25 | $644.1M | $475.0M | ||
| Q2 25 | $503.8M | $107.0M | ||
| Q1 25 | $479.5M | $67.0M | ||
| Q4 24 | $470.6M | $625.0M | ||
| Q3 24 | $381.0M | $64.0M | ||
| Q2 24 | $363.7M | $160.0M |
| Q1 26 | — | — | ||
| Q4 25 | $323.2M | $4.3B | ||
| Q3 25 | $322.7M | $4.3B | ||
| Q2 25 | $322.3M | $4.3B | ||
| Q1 25 | $321.9M | $5.2B | ||
| Q4 24 | $321.4M | $6.0B | ||
| Q3 24 | $212.0M | $6.4B | ||
| Q2 24 | $211.7M | $6.7B |
| Q1 26 | $206.9M | — | ||
| Q4 25 | $179.3M | $6.1B | ||
| Q3 25 | $161.9M | $6.0B | ||
| Q2 25 | $141.0M | $5.9B | ||
| Q1 25 | $108.1M | $5.4B | ||
| Q4 24 | $99.9M | $5.3B | ||
| Q3 24 | $114.5M | $5.1B | ||
| Q2 24 | $123.7M | $5.4B |
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.1B | $17.8B | ||
| Q3 25 | $1.1B | $17.7B | ||
| Q2 25 | $1.0B | $18.1B | ||
| Q1 25 | $895.6M | $18.5B | ||
| Q4 24 | $782.1M | $19.4B | ||
| Q3 24 | $692.3M | $19.4B | ||
| Q2 24 | $716.3M | $20.2B |
| Q1 26 | — | — | ||
| Q4 25 | 1.80× | 0.70× | ||
| Q3 25 | 1.99× | 0.72× | ||
| Q2 25 | 2.29× | 0.73× | ||
| Q1 25 | 2.98× | 0.96× | ||
| Q4 24 | 3.22× | 1.13× | ||
| Q3 24 | 1.85× | 1.25× | ||
| Q2 24 | 1.71× | 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 | $128.7M | $808.0M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 11.27× | 2.44× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $128.7M | — | ||
| Q4 25 | $-50.4M | $808.0M | ||
| Q3 25 | $144.6M | $1.5B | ||
| Q2 25 | $29.1M | $1.2B | ||
| Q1 25 | $16.6M | $1.1B | ||
| Q4 24 | $-8.7M | $1.0B | ||
| Q3 24 | $26.2M | $1.3B | ||
| Q2 24 | $23.5M | $877.0M |
| Q1 26 | — | — | ||
| Q4 25 | $-55.4M | — | ||
| Q3 25 | $139.1M | — | ||
| Q2 25 | $21.1M | — | ||
| Q1 25 | $8.4M | — | ||
| Q4 24 | $-18.0M | — | ||
| Q3 24 | $16.9M | — | ||
| Q2 24 | $11.8M | — |
| Q1 26 | — | — | ||
| Q4 25 | -5.5% | — | ||
| Q3 25 | 14.0% | — | ||
| Q2 25 | 2.1% | — | ||
| Q1 25 | 0.9% | — | ||
| Q4 24 | -2.6% | — | ||
| Q3 24 | 2.4% | — | ||
| Q2 24 | 1.7% | — |
| Q1 26 | — | — | ||
| Q4 25 | 0.5% | — | ||
| Q3 25 | 0.6% | — | ||
| Q2 25 | 0.8% | — | ||
| Q1 25 | 0.9% | — | ||
| Q4 24 | 1.3% | — | ||
| Q3 24 | 1.3% | — | ||
| Q2 24 | 1.7% | — |
| Q1 26 | 11.27× | — | ||
| Q4 25 | — | 2.44× | ||
| Q3 25 | 38.77× | 7.12× | ||
| Q2 25 | 1.86× | 1.96× | ||
| Q1 25 | — | 2.62× | ||
| Q4 24 | — | 2.44× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 1.62× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ALHC
Segment breakdown not available.
APA
| Oil And Gas Excluding Purchased | $1.7B | 76% |
| Oil And Gas Purchased | $323.0M | 15% |
| Oil Reserves | $114.0M | 5% |
| Other | $72.0M | 3% |
| Natural Gas Reserves | $30.0M | 1% |
