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Side-by-side financial comparison of Alignment Healthcare, Inc. (ALHC) and Dream Finders Homes, Inc. (DFH). Click either name above to swap in a different company.
Dream Finders Homes, Inc. is the larger business by last-quarter revenue ($1.2B vs $1.0B, roughly 1.2× Alignment Healthcare, Inc.). Dream Finders Homes, 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 -22.3%). Dream Finders Homes, Inc. produced more free cash flow last quarter ($136.0M vs $-55.4M). Over the past eight quarters, Alignment Healthcare, Inc.'s revenue compounded faster (26.9% CAGR vs 21.0%).
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.
Dream Finders Homes, Inc. is a U.S. homebuilding firm that constructs and sells entry-level to luxury residential properties, including single-family homes and townhomes, across high-growth domestic markets. It also provides mortgage, title insurance and home warranty services for homebuyers.
ALHC vs DFH — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.0B | $1.2B |
| Net Profit | $-11.0M | $58.8M |
| Gross Margin | — | — |
| Operating Margin | -1.0% | 6.4% |
| Net Margin | -1.1% | 4.8% |
| Revenue YoY | 44.4% | -22.3% |
| Net Profit YoY | 64.6% | -54.9% |
| EPS (diluted) | $-0.04 | $0.57 |
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 | $1.2B | ||
| Q3 25 | $993.7M | $969.8M | ||
| Q2 25 | $1.0B | $1.2B | ||
| Q1 25 | $926.9M | $989.9M | ||
| Q4 24 | $701.2M | $1.6B | ||
| Q3 24 | $692.4M | $1.0B | ||
| Q2 24 | $681.3M | $1.1B | ||
| Q1 24 | $628.6M | $827.8M |
| Q4 25 | $-11.0M | $58.8M | ||
| Q3 25 | $3.7M | $47.0M | ||
| Q2 25 | $15.7M | $56.6M | ||
| Q1 25 | $-9.1M | $54.9M | ||
| Q4 24 | $-31.1M | $130.5M | ||
| Q3 24 | $-26.4M | $70.7M | ||
| Q2 24 | $-24.0M | $80.9M | ||
| Q1 24 | $-46.5M | $54.5M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 19.2% | ||
| Q1 24 | — | 18.0% |
| Q4 25 | -1.0% | 6.4% | ||
| Q3 25 | 0.8% | 6.3% | ||
| Q2 25 | 2.2% | 6.4% | ||
| Q1 25 | -0.6% | 7.2% | ||
| Q4 24 | -3.2% | 10.8% | ||
| Q3 24 | -2.8% | 9.2% | ||
| Q2 24 | -2.7% | 10.0% | ||
| Q1 24 | -6.5% | 8.6% |
| Q4 25 | -1.1% | 4.8% | ||
| Q3 25 | 0.4% | 4.8% | ||
| Q2 25 | 1.5% | 4.9% | ||
| Q1 25 | -1.0% | 5.5% | ||
| Q4 24 | -4.4% | 8.4% | ||
| Q3 24 | -3.8% | 7.0% | ||
| Q2 24 | -3.5% | 7.7% | ||
| Q1 24 | -7.4% | 6.6% |
| Q4 25 | $-0.04 | $0.57 | ||
| Q3 25 | $0.02 | $0.47 | ||
| Q2 25 | $0.07 | $0.56 | ||
| Q1 25 | $-0.05 | $0.54 | ||
| Q4 24 | $-0.15 | $1.28 | ||
| Q3 24 | $-0.14 | $0.70 | ||
| Q2 24 | $-0.13 | $0.81 | ||
| Q1 24 | $-0.25 | $0.55 |
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 | $234.8M |
| Total DebtLower is stronger | $323.2M | $1.6B |
| Stockholders' EquityBook value | $179.3M | $1.4B |
| Total Assets | $1.1B | $3.7B |
| Debt / EquityLower = less leverage | 1.80× | 1.13× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $604.2M | $234.8M | ||
| Q3 25 | $644.1M | $251.0M | ||
| Q2 25 | $503.8M | $210.3M | ||
| Q1 25 | $479.5M | $297.5M | ||
| Q4 24 | $470.6M | $274.4M | ||
| Q3 24 | $381.0M | $204.9M | ||
| Q2 24 | $363.7M | $274.8M | ||
| Q1 24 | $301.7M | $239.4M |
| Q4 25 | $323.2M | $1.6B | ||
| Q3 25 | $322.7M | $1.8B | ||
| Q2 25 | $322.3M | — | ||
| Q1 25 | $321.9M | — | ||
| Q4 24 | $321.4M | $1.3B | ||
| Q3 24 | $212.0M | — | ||
| Q2 24 | $211.7M | — | ||
| Q1 24 | $162.0M | — |
| Q4 25 | $179.3M | $1.4B | ||
| Q3 25 | $161.9M | $1.4B | ||
| Q2 25 | $141.0M | $1.3B | ||
| Q1 25 | $108.1M | $1.3B | ||
| Q4 24 | $99.9M | $1.2B | ||
| Q3 24 | $114.5M | $1.1B | ||
| Q2 24 | $123.7M | $1.0B | ||
| Q1 24 | $130.9M | $968.7M |
| Q4 25 | $1.1B | $3.7B | ||
| Q3 25 | $1.1B | $3.8B | ||
| Q2 25 | $1.0B | $3.7B | ||
| Q1 25 | $895.6M | $3.5B | ||
| Q4 24 | $782.1M | $3.3B | ||
| Q3 24 | $692.3M | $3.3B | ||
| Q2 24 | $716.3M | $3.0B | ||
| Q1 24 | $633.2M | $2.7B |
| Q4 25 | 1.80× | 1.13× | ||
| Q3 25 | 1.99× | 1.29× | ||
| Q2 25 | 2.29× | — | ||
| Q1 25 | 2.98× | — | ||
| Q4 24 | 3.22× | 1.03× | ||
| 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 | $143.6M |
| Free Cash FlowOCF − Capex | $-55.4M | $136.0M |
| FCF MarginFCF / Revenue | -5.5% | 11.2% |
| Capex IntensityCapex / Revenue | 0.5% | 0.6% |
| Cash ConversionOCF / Net Profit | — | 2.44× |
| TTM Free Cash FlowTrailing 4 quarters | $113.1M | $-126.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-50.4M | $143.6M | ||
| Q3 25 | $144.6M | $-131.0M | ||
| Q2 25 | $29.1M | $-68.5M | ||
| Q1 25 | $16.6M | $-44.7M | ||
| Q4 24 | $-8.7M | $306.5M | ||
| Q3 24 | $26.2M | $-205.0M | ||
| Q2 24 | $23.5M | $-110.6M | ||
| Q1 24 | $-6.2M | $-247.5M |
| Q4 25 | $-55.4M | $136.0M | ||
| Q3 25 | $139.1M | $-135.7M | ||
| Q2 25 | $21.1M | $-78.8M | ||
| Q1 25 | $8.4M | $-47.9M | ||
| Q4 24 | $-18.0M | $302.6M | ||
| Q3 24 | $16.9M | $-222.5M | ||
| Q2 24 | $11.8M | $-112.4M | ||
| Q1 24 | $-17.4M | $-249.6M |
| Q4 25 | -5.5% | 11.2% | ||
| Q3 25 | 14.0% | -14.0% | ||
| Q2 25 | 2.1% | -6.8% | ||
| Q1 25 | 0.9% | -4.8% | ||
| Q4 24 | -2.6% | 19.4% | ||
| Q3 24 | 2.4% | -22.1% | ||
| Q2 24 | 1.7% | -10.6% | ||
| Q1 24 | -2.8% | -30.2% |
| Q4 25 | 0.5% | 0.6% | ||
| Q3 25 | 0.6% | 0.5% | ||
| Q2 25 | 0.8% | 0.9% | ||
| Q1 25 | 0.9% | 0.3% | ||
| Q4 24 | 1.3% | 0.3% | ||
| Q3 24 | 1.3% | 1.7% | ||
| Q2 24 | 1.7% | 0.2% | ||
| Q1 24 | 1.8% | 0.3% |
| Q4 25 | — | 2.44× | ||
| Q3 25 | 38.77× | -2.79× | ||
| Q2 25 | 1.86× | -1.21× | ||
| Q1 25 | — | -0.81× | ||
| Q4 24 | — | 2.35× | ||
| Q3 24 | — | -2.90× | ||
| Q2 24 | — | -1.37× | ||
| Q1 24 | — | -4.54× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ALHC
Segment breakdown not available.
DFH
| Midwest Segment | $454.2M | 37% |
| Southeast Segment | $397.5M | 33% |
| Mid Atlantic Segment | $307.3M | 25% |
| Financial Services Segment | $53.7M | 4% |
