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Side-by-side financial comparison of Alignment Healthcare, Inc. (ALHC) and ESAB Corp (ESAB). Click either name above to swap in a different company.
Alignment Healthcare, Inc. is the larger business by last-quarter revenue ($1.2B vs $727.8M, roughly 1.7× ESAB Corp). ESAB Corp runs the higher net margin — 7.5% vs 0.9%, a 6.6% gap on every dollar of revenue. On growth, ESAB Corp posted the faster year-over-year revenue change (8.5% vs -74.7%). Over the past eight quarters, Alignment Healthcare, Inc.'s revenue compounded faster (34.6% CAGR vs 2.8%).
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.
ESAB, Elektriska Svetsnings-Aktiebolaget, is an American-Swedish industrial company.
ALHC vs ESAB — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $727.8M |
| Net Profit | $11.4M | $54.8M |
| Gross Margin | — | 37.0% |
| Operating Margin | — | 14.6% |
| Net Margin | 0.9% | 7.5% |
| Revenue YoY | -74.7% | 8.5% |
| Net Profit YoY | — | 2.1% |
| EPS (diluted) | — | $0.90 |
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 | $727.8M | ||
| Q3 25 | $993.7M | $715.6M | ||
| Q2 25 | $1.0B | $678.1M | ||
| Q1 25 | $926.9M | — | ||
| Q4 24 | $701.2M | $670.8M | ||
| Q3 24 | $692.4M | $673.3M | ||
| Q2 24 | $681.3M | $707.1M |
| Q1 26 | $11.4M | — | ||
| Q4 25 | $-11.0M | $54.8M | ||
| Q3 25 | $3.7M | $66.9M | ||
| Q2 25 | $15.7M | $67.4M | ||
| Q1 25 | $-9.1M | — | ||
| Q4 24 | $-31.1M | $53.7M | ||
| Q3 24 | $-26.4M | $68.2M | ||
| Q2 24 | $-24.0M | $82.9M |
| Q1 26 | — | — | ||
| Q4 25 | — | 37.0% | ||
| Q3 25 | — | 37.2% | ||
| Q2 25 | — | 37.6% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 38.5% | ||
| Q3 24 | — | 37.7% | ||
| Q2 24 | — | 38.2% |
| Q1 26 | — | — | ||
| Q4 25 | -1.0% | 14.6% | ||
| Q3 25 | 0.8% | 15.2% | ||
| Q2 25 | 2.2% | 16.2% | ||
| Q1 25 | -0.6% | — | ||
| Q4 24 | -3.2% | 16.6% | ||
| Q3 24 | -2.8% | 15.7% | ||
| Q2 24 | -2.7% | 16.9% |
| Q1 26 | 0.9% | — | ||
| Q4 25 | -1.1% | 7.5% | ||
| Q3 25 | 0.4% | 9.3% | ||
| Q2 25 | 1.5% | 9.9% | ||
| Q1 25 | -1.0% | — | ||
| Q4 24 | -4.4% | 8.0% | ||
| Q3 24 | -3.8% | 10.1% | ||
| Q2 24 | -3.5% | 11.7% |
| Q1 26 | — | — | ||
| Q4 25 | $-0.04 | $0.90 | ||
| Q3 25 | $0.02 | $1.09 | ||
| Q2 25 | $0.07 | $1.10 | ||
| Q1 25 | $-0.05 | — | ||
| Q4 24 | $-0.15 | $0.87 | ||
| Q3 24 | $-0.14 | $1.11 | ||
| Q2 24 | $-0.13 | $1.35 |
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 | $218.2M |
| Total DebtLower is stronger | — | $1.3B |
| Stockholders' EquityBook value | $206.9M | $2.1B |
| Total Assets | $1.3B | $4.9B |
| Debt / EquityLower = less leverage | — | 0.63× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $705.6M | — | ||
| Q4 25 | $604.2M | $218.2M | ||
| Q3 25 | $644.1M | $258.2M | ||
| Q2 25 | $503.8M | $291.3M | ||
| Q1 25 | $479.5M | — | ||
| Q4 24 | $470.6M | $249.4M | ||
| Q3 24 | $381.0M | $253.7M | ||
| Q2 24 | $363.7M | $228.5M |
| Q1 26 | — | — | ||
| Q4 25 | $323.2M | $1.3B | ||
| Q3 25 | $322.7M | $1.1B | ||
| Q2 25 | $322.3M | $1.1B | ||
| Q1 25 | $321.9M | — | ||
| Q4 24 | $321.4M | $1.1B | ||
| Q3 24 | $212.0M | $1.1B | ||
| Q2 24 | $211.7M | $1.1B |
| Q1 26 | $206.9M | — | ||
| Q4 25 | $179.3M | $2.1B | ||
| Q3 25 | $161.9M | $2.1B | ||
| Q2 25 | $141.0M | $1.9B | ||
| Q1 25 | $108.1M | — | ||
| Q4 24 | $99.9M | $1.8B | ||
| Q3 24 | $114.5M | $1.8B | ||
| Q2 24 | $123.7M | $1.7B |
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.1B | $4.9B | ||
| Q3 25 | $1.1B | $4.4B | ||
| Q2 25 | $1.0B | $4.2B | ||
| Q1 25 | $895.6M | — | ||
| Q4 24 | $782.1M | $4.0B | ||
| Q3 24 | $692.3M | $4.1B | ||
| Q2 24 | $716.3M | $4.0B |
| Q1 26 | — | — | ||
| Q4 25 | 1.80× | 0.63× | ||
| Q3 25 | 1.99× | 0.51× | ||
| Q2 25 | 2.29× | 0.55× | ||
| Q1 25 | 2.98× | — | ||
| Q4 24 | 3.22× | 0.60× | ||
| Q3 24 | 1.85× | 0.59× | ||
| Q2 24 | 1.71× | 0.63× |
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 | $81.5M |
| Free Cash FlowOCF − Capex | — | $70.3M |
| FCF MarginFCF / Revenue | — | 9.7% |
| Capex IntensityCapex / Revenue | — | 1.5% |
| Cash ConversionOCF / Net Profit | 11.27× | 1.49× |
| TTM Free Cash FlowTrailing 4 quarters | — | $238.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $128.7M | — | ||
| Q4 25 | $-50.4M | $81.5M | ||
| Q3 25 | $144.6M | $46.6M | ||
| Q2 25 | $29.1M | $35.4M | ||
| Q1 25 | $16.6M | — | ||
| Q4 24 | $-8.7M | $126.9M | ||
| Q3 24 | $26.2M | $101.0M | ||
| Q2 24 | $23.5M | $83.0M |
| Q1 26 | — | — | ||
| Q4 25 | $-55.4M | $70.3M | ||
| Q3 25 | $139.1M | $37.4M | ||
| Q2 25 | $21.1M | $28.1M | ||
| Q1 25 | $8.4M | — | ||
| Q4 24 | $-18.0M | $102.2M | ||
| Q3 24 | $16.9M | $90.4M | ||
| Q2 24 | $11.8M | $74.0M |
| Q1 26 | — | — | ||
| Q4 25 | -5.5% | 9.7% | ||
| Q3 25 | 14.0% | 5.2% | ||
| Q2 25 | 2.1% | 4.1% | ||
| Q1 25 | 0.9% | — | ||
| Q4 24 | -2.6% | 15.2% | ||
| Q3 24 | 2.4% | 13.4% | ||
| Q2 24 | 1.7% | 10.5% |
| Q1 26 | — | — | ||
| Q4 25 | 0.5% | 1.5% | ||
| Q3 25 | 0.6% | 1.3% | ||
| Q2 25 | 0.8% | 1.1% | ||
| Q1 25 | 0.9% | — | ||
| Q4 24 | 1.3% | 3.7% | ||
| Q3 24 | 1.3% | 1.6% | ||
| Q2 24 | 1.7% | 1.3% |
| Q1 26 | 11.27× | — | ||
| Q4 25 | — | 1.49× | ||
| Q3 25 | 38.77× | 0.70× | ||
| Q2 25 | 1.86× | 0.53× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 2.36× | ||
| Q3 24 | — | 1.48× | ||
| Q2 24 | — | 1.00× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ALHC
Segment breakdown not available.
ESAB
| Consumable Products | $477.9M | 66% |
| Equipment Products | $249.9M | 34% |
