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Side-by-side financial comparison of Alignment Healthcare, Inc. (ALHC) and Global Business Travel Group, Inc. (GBTG). Click either name above to swap in a different company.
Alignment Healthcare, Inc. is the larger business by last-quarter revenue ($1.0B vs $792.0M, roughly 1.3× Global Business Travel Group, Inc.). Global Business Travel Group, Inc. runs the higher net margin — 10.5% vs -1.1%, a 11.6% gap on every dollar of revenue. On growth, Alignment Healthcare, Inc. posted the faster year-over-year revenue change (44.4% vs 34.0%). Global Business Travel Group, Inc. produced more free cash flow last quarter ($13.0M vs $-55.4M). Over the past eight quarters, Alignment Healthcare, Inc.'s revenue compounded faster (26.9% CAGR vs 13.9%).
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.
A travel management company (TMC) is a travel agency which manages organizations' corporate or business travel programs. Such companies will often provide an end-user online booking tool, mobile application, program management, and consulting teams, executive travel services, meetings and events support, reporting functionality, duty of care, and more. Non-Profit travel management companies also provide services to manage complex visa requirements, pre-trip medical needs, remote area travel, ...
ALHC vs GBTG — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.0B | $792.0M |
| Net Profit | $-11.0M | $83.0M |
| Gross Margin | — | — |
| Operating Margin | -1.0% | 3.7% |
| Net Margin | -1.1% | 10.5% |
| Revenue YoY | 44.4% | 34.0% |
| Net Profit YoY | 64.6% | 692.9% |
| EPS (diluted) | $-0.04 | $0.16 |
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 | $792.0M | ||
| Q3 25 | $993.7M | $674.0M | ||
| Q2 25 | $1.0B | $631.0M | ||
| Q1 25 | $926.9M | $621.0M | ||
| Q4 24 | $701.2M | $591.0M | ||
| Q3 24 | $692.4M | $597.0M | ||
| Q2 24 | $681.3M | $625.0M | ||
| Q1 24 | $628.6M | $610.0M |
| Q4 25 | $-11.0M | $83.0M | ||
| Q3 25 | $3.7M | $-62.0M | ||
| Q2 25 | $15.7M | $15.0M | ||
| Q1 25 | $-9.1M | $75.0M | ||
| Q4 24 | $-31.1M | $-14.0M | ||
| Q3 24 | $-26.4M | $-128.0M | ||
| Q2 24 | $-24.0M | $27.0M | ||
| Q1 24 | $-46.5M | $-19.0M |
| Q4 25 | -1.0% | 3.7% | ||
| Q3 25 | 0.8% | 1.8% | ||
| Q2 25 | 2.2% | 5.4% | ||
| Q1 25 | -0.6% | 8.9% | ||
| Q4 24 | -3.2% | 5.1% | ||
| Q3 24 | -2.8% | 4.5% | ||
| Q2 24 | -2.7% | 6.7% | ||
| Q1 24 | -6.5% | 2.6% |
| Q4 25 | -1.1% | 10.5% | ||
| Q3 25 | 0.4% | -9.2% | ||
| Q2 25 | 1.5% | 2.4% | ||
| Q1 25 | -1.0% | 12.1% | ||
| Q4 24 | -4.4% | -2.4% | ||
| Q3 24 | -3.8% | -21.4% | ||
| Q2 24 | -3.5% | 4.3% | ||
| Q1 24 | -7.4% | -3.1% |
| Q4 25 | $-0.04 | $0.16 | ||
| Q3 25 | $0.02 | $-0.13 | ||
| Q2 25 | $0.07 | $0.03 | ||
| Q1 25 | $-0.05 | $0.16 | ||
| Q4 24 | $-0.15 | $-0.04 | ||
| Q3 24 | $-0.14 | $-0.28 | ||
| Q2 24 | $-0.13 | $0.06 | ||
| Q1 24 | $-0.25 | $-0.04 |
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 | $434.0M |
| Total DebtLower is stronger | $323.2M | $1.4B |
| Stockholders' EquityBook value | $179.3M | $1.6B |
| Total Assets | $1.1B | $4.9B |
| Debt / EquityLower = less leverage | 1.80× | 0.88× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $604.2M | $434.0M | ||
| Q3 25 | $644.1M | $427.0M | ||
| Q2 25 | $503.8M | $601.0M | ||
| Q1 25 | $479.5M | $552.0M | ||
| Q4 24 | $470.6M | $536.0M | ||
| Q3 24 | $381.0M | $524.0M | ||
| Q2 24 | $363.7M | $515.0M | ||
| Q1 24 | $301.7M | $475.0M |
| Q4 25 | $323.2M | $1.4B | ||
| Q3 25 | $322.7M | $1.4B | ||
| Q2 25 | $322.3M | $1.4B | ||
| Q1 25 | $321.9M | $1.4B | ||
| Q4 24 | $321.4M | $1.4B | ||
| Q3 24 | $212.0M | $1.4B | ||
| Q2 24 | $211.7M | — | ||
| Q1 24 | $162.0M | — |
| Q4 25 | $179.3M | $1.6B | ||
| Q3 25 | $161.9M | $1.5B | ||
| Q2 25 | $141.0M | $1.2B | ||
| Q1 25 | $108.1M | $1.1B | ||
| Q4 24 | $99.9M | $1.1B | ||
| Q3 24 | $114.5M | $1.1B | ||
| Q2 24 | $123.7M | $1.2B | ||
| Q1 24 | $130.9M | $1.2B |
| Q4 25 | $1.1B | $4.9B | ||
| Q3 25 | $1.1B | $4.8B | ||
| Q2 25 | $1.0B | $3.9B | ||
| Q1 25 | $895.6M | $3.8B | ||
| Q4 24 | $782.1M | $3.6B | ||
| Q3 24 | $692.3M | $3.8B | ||
| Q2 24 | $716.3M | $3.8B | ||
| Q1 24 | $633.2M | $3.8B |
| Q4 25 | 1.80× | 0.88× | ||
| Q3 25 | 1.99× | 0.91× | ||
| Q2 25 | 2.29× | 1.15× | ||
| Q1 25 | 2.98× | 1.23× | ||
| Q4 24 | 3.22× | 1.32× | ||
| Q3 24 | 1.85× | 1.26× | ||
| 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 | $52.0M |
| Free Cash FlowOCF − Capex | $-55.4M | $13.0M |
| FCF MarginFCF / Revenue | -5.5% | 1.6% |
| Capex IntensityCapex / Revenue | 0.5% | 4.9% |
| Cash ConversionOCF / Net Profit | — | 0.63× |
| TTM Free Cash FlowTrailing 4 quarters | $113.1M | $104.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-50.4M | $52.0M | ||
| Q3 25 | $144.6M | $71.0M | ||
| Q2 25 | $29.1M | $57.0M | ||
| Q1 25 | $16.6M | $53.0M | ||
| Q4 24 | $-8.7M | $65.0M | ||
| Q3 24 | $26.2M | $85.0M | ||
| Q2 24 | $23.5M | $73.0M | ||
| Q1 24 | $-6.2M | $49.0M |
| Q4 25 | $-55.4M | $13.0M | ||
| Q3 25 | $139.1M | $38.0M | ||
| Q2 25 | $21.1M | $27.0M | ||
| Q1 25 | $8.4M | $26.0M | ||
| Q4 24 | $-18.0M | $33.0M | ||
| Q3 24 | $16.9M | $59.0M | ||
| Q2 24 | $11.8M | $49.0M | ||
| Q1 24 | $-17.4M | $24.0M |
| Q4 25 | -5.5% | 1.6% | ||
| Q3 25 | 14.0% | 5.6% | ||
| Q2 25 | 2.1% | 4.3% | ||
| Q1 25 | 0.9% | 4.2% | ||
| Q4 24 | -2.6% | 5.6% | ||
| Q3 24 | 2.4% | 9.9% | ||
| Q2 24 | 1.7% | 7.8% | ||
| Q1 24 | -2.8% | 3.9% |
| Q4 25 | 0.5% | 4.9% | ||
| Q3 25 | 0.6% | 4.9% | ||
| Q2 25 | 0.8% | 4.8% | ||
| Q1 25 | 0.9% | 4.3% | ||
| Q4 24 | 1.3% | 5.4% | ||
| Q3 24 | 1.3% | 4.4% | ||
| Q2 24 | 1.7% | 3.8% | ||
| Q1 24 | 1.8% | 4.1% |
| Q4 25 | — | 0.63× | ||
| Q3 25 | 38.77× | — | ||
| Q2 25 | 1.86× | 3.80× | ||
| Q1 25 | — | 0.71× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 2.70× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ALHC
Segment breakdown not available.
GBTG
| Travel | $620.0M | 78% |
| Other | $172.0M | 22% |
