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Side-by-side financial comparison of Alignment Healthcare, Inc. (ALHC) and Bath & Body Works, Inc. (BBWI). Click either name above to swap in a different company.
Bath & Body Works, Inc. is the larger business by last-quarter revenue ($1.6B vs $1.0B, roughly 1.6× Alignment Healthcare, Inc.). Bath & Body Works, Inc. runs the higher net margin — 4.8% vs -1.1%, a 5.9% gap on every dollar of revenue. On growth, Alignment Healthcare, Inc. posted the faster year-over-year revenue change (44.4% vs -1.0%). Bath & Body Works, Inc. produced more free cash flow last quarter ($-1.0M vs $-55.4M). Over the past eight quarters, Alignment Healthcare, Inc.'s revenue compounded faster (26.9% CAGR vs -26.0%).
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.
Bath & Body Works, Inc. is an American specialty retail company based in Columbus, Ohio. It owns Bath & Body Works, posted $7.4 billion in revenue in 2023, and was listed as 481 on the 2024 Fortune 500 list of largest United States companies by revenue.
ALHC vs BBWI — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.0B | $1.6B |
| Net Profit | $-11.0M | $77.0M |
| Gross Margin | — | 41.3% |
| Operating Margin | -1.0% | 10.1% |
| Net Margin | -1.1% | 4.8% |
| Revenue YoY | 44.4% | -1.0% |
| Net Profit YoY | 64.6% | -27.4% |
| EPS (diluted) | $-0.04 | $0.37 |
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 | $1.6B | ||
| Q3 25 | $993.7M | $1.5B | ||
| Q2 25 | $1.0B | $1.4B | ||
| Q1 25 | $926.9M | $2.8B | ||
| Q4 24 | $701.2M | $1.6B | ||
| Q3 24 | $692.4M | $1.5B | ||
| Q2 24 | $681.3M | $1.4B | ||
| Q1 24 | $628.6M | $2.9B |
| Q4 25 | $-11.0M | $77.0M | ||
| Q3 25 | $3.7M | $64.0M | ||
| Q2 25 | $15.7M | $105.0M | ||
| Q1 25 | $-9.1M | $453.0M | ||
| Q4 24 | $-31.1M | $106.0M | ||
| Q3 24 | $-26.4M | $152.0M | ||
| Q2 24 | $-24.0M | $87.0M | ||
| Q1 24 | $-46.5M | $579.0M |
| Q4 25 | — | 41.3% | ||
| Q3 25 | — | 41.3% | ||
| Q2 25 | — | 45.4% | ||
| Q1 25 | — | 46.7% | ||
| Q4 24 | — | 43.5% | ||
| Q3 24 | — | 41.0% | ||
| Q2 24 | — | 43.8% | ||
| Q1 24 | — | 45.9% |
| Q4 25 | -1.0% | 10.1% | ||
| Q3 25 | 0.8% | 10.1% | ||
| Q2 25 | 2.2% | 14.7% | ||
| Q1 25 | -0.6% | 24.3% | ||
| Q4 24 | -3.2% | 13.5% | ||
| Q3 24 | -2.8% | 12.0% | ||
| Q2 24 | -2.7% | 13.5% | ||
| Q1 24 | -6.5% | 23.9% |
| Q4 25 | -1.1% | 4.8% | ||
| Q3 25 | 0.4% | 4.1% | ||
| Q2 25 | 1.5% | 7.4% | ||
| Q1 25 | -1.0% | 16.3% | ||
| Q4 24 | -4.4% | 6.6% | ||
| Q3 24 | -3.8% | 10.0% | ||
| Q2 24 | -3.5% | 6.3% | ||
| Q1 24 | -7.4% | 19.9% |
| Q4 25 | $-0.04 | $0.37 | ||
| Q3 25 | $0.02 | $0.30 | ||
| Q2 25 | $0.07 | $0.49 | ||
| Q1 25 | $-0.05 | $2.06 | ||
| Q4 24 | $-0.15 | $0.49 | ||
| Q3 24 | $-0.14 | $0.68 | ||
| Q2 24 | $-0.13 | $0.38 | ||
| Q1 24 | $-0.25 | $2.54 |
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 | $236.0M |
| Total DebtLower is stronger | $323.2M | $3.9B |
| Stockholders' EquityBook value | $179.3M | $-1.6B |
| Total Assets | $1.1B | $5.0B |
| Debt / EquityLower = less leverage | 1.80× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $604.2M | $236.0M | ||
| Q3 25 | $644.1M | $364.0M | ||
| Q2 25 | $503.8M | $636.0M | ||
| Q1 25 | $479.5M | $674.0M | ||
| Q4 24 | $470.6M | $191.0M | ||
| Q3 24 | $381.0M | $514.0M | ||
| Q2 24 | $363.7M | $855.0M | ||
| Q1 24 | $301.7M | $1.1B |
| Q4 25 | $323.2M | $3.9B | ||
| Q3 25 | $322.7M | $3.9B | ||
| Q2 25 | $322.3M | $3.9B | ||
| Q1 25 | $321.9M | $3.9B | ||
| Q4 24 | $321.4M | $4.2B | ||
| Q3 24 | $212.0M | $4.2B | ||
| Q2 24 | $211.7M | $4.3B | ||
| Q1 24 | $162.0M | $4.4B |
| Q4 25 | $179.3M | $-1.6B | ||
| Q3 25 | $161.9M | $-1.5B | ||
| Q2 25 | $141.0M | $-1.5B | ||
| Q1 25 | $108.1M | $-1.4B | ||
| Q4 24 | $99.9M | $-1.7B | ||
| Q3 24 | $114.5M | $-1.7B | ||
| Q2 24 | $123.7M | $-1.7B | ||
| Q1 24 | $130.9M | $-1.6B |
| Q4 25 | $1.1B | $5.0B | ||
| Q3 25 | $1.1B | $4.8B | ||
| Q2 25 | $1.0B | $4.9B | ||
| Q1 25 | $895.6M | $4.9B | ||
| Q4 24 | $782.1M | $5.0B | ||
| Q3 24 | $692.3M | $4.9B | ||
| Q2 24 | $716.3M | $5.2B | ||
| Q1 24 | $633.2M | $5.5B |
| Q4 25 | 1.80× | — | ||
| Q3 25 | 1.99× | — | ||
| Q2 25 | 2.29× | — | ||
| Q1 25 | 2.98× | — | ||
| Q4 24 | 3.22× | — | ||
| 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 | $80.0M |
| Free Cash FlowOCF − Capex | $-55.4M | $-1.0M |
| FCF MarginFCF / Revenue | -5.5% | -0.1% |
| Capex IntensityCapex / Revenue | 0.5% | 5.1% |
| Cash ConversionOCF / Net Profit | — | 1.04× |
| TTM Free Cash FlowTrailing 4 quarters | $113.1M | $946.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-50.4M | $80.0M | ||
| Q3 25 | $144.6M | $-43.0M | ||
| Q2 25 | $29.1M | $188.0M | ||
| Q1 25 | $16.6M | $955.0M | ||
| Q4 24 | $-8.7M | $-99.0M | ||
| Q3 24 | $26.2M | $-46.0M | ||
| Q2 24 | $23.5M | $76.0M | ||
| Q1 24 | $-6.2M | $926.0M |
| Q4 25 | $-55.4M | $-1.0M | ||
| Q3 25 | $139.1M | $-99.0M | ||
| Q2 25 | $21.1M | $151.0M | ||
| Q1 25 | $8.4M | $895.0M | ||
| Q4 24 | $-18.0M | $-164.0M | ||
| Q3 24 | $16.9M | $-101.0M | ||
| Q2 24 | $11.8M | $30.0M | ||
| Q1 24 | $-17.4M | $878.0M |
| Q4 25 | -5.5% | -0.1% | ||
| Q3 25 | 14.0% | -6.4% | ||
| Q2 25 | 2.1% | 10.6% | ||
| Q1 25 | 0.9% | 32.1% | ||
| Q4 24 | -2.6% | -10.2% | ||
| Q3 24 | 2.4% | -6.6% | ||
| Q2 24 | 1.7% | 2.2% | ||
| Q1 24 | -2.8% | 30.2% |
| Q4 25 | 0.5% | 5.1% | ||
| Q3 25 | 0.6% | 3.6% | ||
| Q2 25 | 0.8% | 2.6% | ||
| Q1 25 | 0.9% | 2.2% | ||
| Q4 24 | 1.3% | 4.0% | ||
| Q3 24 | 1.3% | 3.6% | ||
| Q2 24 | 1.7% | 3.3% | ||
| Q1 24 | 1.8% | 1.6% |
| Q4 25 | — | 1.04× | ||
| Q3 25 | 38.77× | -0.67× | ||
| Q2 25 | 1.86× | 1.79× | ||
| Q1 25 | — | 2.11× | ||
| Q4 24 | — | -0.93× | ||
| Q3 24 | — | -0.30× | ||
| Q2 24 | — | 0.87× | ||
| Q1 24 | — | 1.60× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ALHC
Segment breakdown not available.
BBWI
| Bath Body Works Stores | $1.2B | 77% |
| Bath Body Works Direct | $299.0M | 19% |
| Bath Body Works International | $73.0M | 5% |
