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Side-by-side financial comparison of Alignment Healthcare, Inc. (ALHC) and Barnes & Noble Education, Inc. (BNED). Click either name above to swap in a different company.
Alignment Healthcare, Inc. is the larger business by last-quarter revenue ($1.0B vs $598.2M, roughly 1.7× Barnes & Noble Education, Inc.). Barnes & Noble Education, Inc. runs the higher net margin — 4.2% vs -1.1%, a 5.3% gap on every dollar of revenue. On growth, Alignment Healthcare, Inc. posted the faster year-over-year revenue change (44.4% vs 6.9%). Barnes & Noble Education, Inc. produced more free cash flow last quarter ($61.9M vs $-55.4M). Over the past eight quarters, Alignment Healthcare, Inc.'s revenue compounded faster (26.9% CAGR vs 20.0%).
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.
Barnes & Noble Booksellers is an American bookseller with the largest number of retail outlets in the United States. The company operates approximately 700+ retail stores across the United States.
ALHC vs BNED — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.0B | $598.2M |
| Net Profit | $-11.0M | $25.0M |
| Gross Margin | — | 21.7% |
| Operating Margin | -1.0% | 6.8% |
| Net Margin | -1.1% | 4.2% |
| Revenue YoY | 44.4% | 6.9% |
| Net Profit YoY | 64.6% | -49.7% |
| EPS (diluted) | $-0.04 | $0.72 |
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 | $598.2M | ||
| Q3 25 | $993.7M | $274.2M | ||
| Q2 25 | $1.0B | $233.0M | ||
| Q1 25 | $926.9M | $419.7M | ||
| Q4 24 | $701.2M | $559.7M | ||
| Q3 24 | $692.4M | $250.9M | ||
| Q2 24 | $681.3M | $192.7M | ||
| Q1 24 | $628.6M | $415.4M |
| Q4 25 | $-11.0M | $25.0M | ||
| Q3 25 | $3.7M | $-18.3M | ||
| Q2 25 | $15.7M | $-23.0M | ||
| Q1 25 | $-9.1M | $17.9M | ||
| Q4 24 | $-31.1M | $43.2M | ||
| Q3 24 | $-26.4M | $-103.9M | ||
| Q2 24 | $-24.0M | $-41.9M | ||
| Q1 24 | $-46.5M | $-9.3M |
| Q4 25 | — | 21.7% | ||
| Q3 25 | — | 20.2% | ||
| Q2 25 | — | 30.3% | ||
| Q1 25 | — | 22.3% | ||
| Q4 24 | — | 23.0% | ||
| Q3 24 | — | 17.9% | ||
| Q2 24 | — | 28.7% | ||
| Q1 24 | — | 24.2% |
| Q4 25 | -1.0% | 6.8% | ||
| Q3 25 | 0.8% | -8.4% | ||
| Q2 25 | 2.2% | -4.9% | ||
| Q1 25 | -0.6% | 4.5% | ||
| Q4 24 | -3.2% | 8.4% | ||
| Q3 24 | -2.8% | -15.4% | ||
| Q2 24 | -2.7% | -16.3% | ||
| Q1 24 | -6.5% | 0.4% |
| Q4 25 | -1.1% | 4.2% | ||
| Q3 25 | 0.4% | -6.7% | ||
| Q2 25 | 1.5% | -9.9% | ||
| Q1 25 | -1.0% | 4.3% | ||
| Q4 24 | -4.4% | 7.7% | ||
| Q3 24 | -3.8% | -41.4% | ||
| Q2 24 | -3.5% | -21.7% | ||
| Q1 24 | -7.4% | -2.2% |
| Q4 25 | $-0.04 | $0.72 | ||
| Q3 25 | $0.02 | $-0.54 | ||
| Q2 25 | $0.07 | $2.97 | ||
| Q1 25 | $-0.05 | $0.59 | ||
| Q4 24 | $-0.15 | $1.63 | ||
| Q3 24 | $-0.14 | $-7.69 | ||
| Q2 24 | $-0.13 | $-15.68 | ||
| Q1 24 | $-0.25 | $-3.49 |
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 | $11.7M |
| Total DebtLower is stronger | $323.2M | $122.5M |
| Stockholders' EquityBook value | $179.3M | $283.2M |
| Total Assets | $1.1B | $1.1B |
| Debt / EquityLower = less leverage | 1.80× | 0.43× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $604.2M | $11.7M | ||
| Q3 25 | $644.1M | $7.3M | ||
| Q2 25 | $503.8M | $9.1M | ||
| Q1 25 | $479.5M | $9.2M | ||
| Q4 24 | $470.6M | $11.6M | ||
| Q3 24 | $381.0M | $8.2M | ||
| Q2 24 | $363.7M | $10.5M | ||
| Q1 24 | $301.7M | $8.1M |
| Q4 25 | $323.2M | $122.5M | ||
| Q3 25 | $322.7M | $170.0M | ||
| Q2 25 | $322.3M | $103.1M | ||
| Q1 25 | $321.9M | $141.2M | ||
| Q4 24 | $321.4M | $177.6M | ||
| Q3 24 | $212.0M | $221.9M | ||
| Q2 24 | $211.7M | $196.3M | ||
| Q1 24 | $162.0M | $30.2M |
| Q4 25 | $179.3M | $283.2M | ||
| Q3 25 | $161.9M | $256.5M | ||
| Q2 25 | $141.0M | $272.2M | ||
| Q1 25 | $108.1M | $292.9M | ||
| Q4 24 | $99.9M | $211.4M | ||
| Q3 24 | $114.5M | $149.8M | ||
| Q2 24 | $123.7M | $80.4M | ||
| Q1 24 | $130.9M | $121.5M |
| Q4 25 | $1.1B | $1.1B | ||
| Q3 25 | $1.1B | $950.8M | ||
| Q2 25 | $1.0B | $790.3M | ||
| Q1 25 | $895.6M | $1.1B | ||
| Q4 24 | $782.1M | $1.0B | ||
| Q3 24 | $692.3M | $973.2M | ||
| Q2 24 | $716.3M | $909.9M | ||
| Q1 24 | $633.2M | $1.2B |
| Q4 25 | 1.80× | 0.43× | ||
| Q3 25 | 1.99× | 0.66× | ||
| Q2 25 | 2.29× | 0.38× | ||
| Q1 25 | 2.98× | 0.48× | ||
| Q4 24 | 3.22× | 0.84× | ||
| Q3 24 | 1.85× | 1.48× | ||
| Q2 24 | 1.71× | 2.44× | ||
| Q1 24 | 1.24× | 0.25× |
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 | $66.2M |
| Free Cash FlowOCF − Capex | $-55.4M | $61.9M |
| FCF MarginFCF / Revenue | -5.5% | 10.4% |
| Capex IntensityCapex / Revenue | 0.5% | 0.7% |
| Cash ConversionOCF / Net Profit | — | 2.65× |
| TTM Free Cash FlowTrailing 4 quarters | $113.1M | $-4.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-50.4M | $66.2M | ||
| Q3 25 | $144.6M | $-67.6M | ||
| Q2 25 | $29.1M | $52.6M | ||
| Q1 25 | $16.6M | $-41.9M | ||
| Q4 24 | $-8.7M | $47.4M | ||
| Q3 24 | $26.2M | $-143.5M | ||
| Q2 24 | $23.5M | $81.7M | ||
| Q1 24 | $-6.2M | $-35.8M |
| Q4 25 | $-55.4M | $61.9M | ||
| Q3 25 | $139.1M | $-71.3M | ||
| Q2 25 | $21.1M | $49.5M | ||
| Q1 25 | $8.4M | $-44.7M | ||
| Q4 24 | $-18.0M | $44.4M | ||
| Q3 24 | $16.9M | $-147.5M | ||
| Q2 24 | $11.8M | $79.1M | ||
| Q1 24 | $-17.4M | $-39.0M |
| Q4 25 | -5.5% | 10.4% | ||
| Q3 25 | 14.0% | -26.0% | ||
| Q2 25 | 2.1% | 21.3% | ||
| Q1 25 | 0.9% | -10.7% | ||
| Q4 24 | -2.6% | 7.9% | ||
| Q3 24 | 2.4% | -58.8% | ||
| Q2 24 | 1.7% | 41.1% | ||
| Q1 24 | -2.8% | -9.4% |
| Q4 25 | 0.5% | 0.7% | ||
| Q3 25 | 0.6% | 1.4% | ||
| Q2 25 | 0.8% | 1.3% | ||
| Q1 25 | 0.9% | 0.7% | ||
| Q4 24 | 1.3% | 0.5% | ||
| Q3 24 | 1.3% | 1.6% | ||
| Q2 24 | 1.7% | 1.4% | ||
| Q1 24 | 1.8% | 0.8% |
| Q4 25 | — | 2.65× | ||
| Q3 25 | 38.77× | — | ||
| Q2 25 | 1.86× | — | ||
| Q1 25 | — | -2.34× | ||
| Q4 24 | — | 1.10× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ALHC
Segment breakdown not available.
BNED
| Course Materials Product | $459.3M | 77% |
| General Merchandise Product | $112.9M | 19% |
| Serviceand Other | $26.1M | 4% |
