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Side-by-side financial comparison of Alignment Healthcare, Inc. (ALHC) and BeOne Medicines Ltd. (ONC). Click either name above to swap in a different company.
BeOne Medicines Ltd. is the larger business by last-quarter revenue ($1.5B vs $1.2B, roughly 1.2× Alignment Healthcare, Inc.). BeOne Medicines Ltd. runs the higher net margin — 4.4% vs 0.9%, a 3.5% gap on every dollar of revenue. On growth, BeOne Medicines Ltd. posted the faster year-over-year revenue change (32.8% vs -74.7%). Over the past eight quarters, BeOne Medicines Ltd.'s revenue compounded faster (41.2% CAGR vs 34.6%).
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.
BeOne Medicines Ltd.ONCEarnings & Financial Report
BeOne Medicines, formerly known as BeiGene, Ltd. is a multinational oncology company. It specializes in the development of drugs for cancer treatment.
ALHC vs ONC — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $1.5B |
| Net Profit | $11.4M | $66.5M |
| Gross Margin | — | 90.5% |
| Operating Margin | — | 12.4% |
| Net Margin | 0.9% | 4.4% |
| Revenue YoY | -74.7% | 32.8% |
| Net Profit YoY | — | 143.8% |
| EPS (diluted) | — | $0.05 |
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 | $1.5B | ||
| Q3 25 | $993.7M | $1.4B | ||
| Q2 25 | $1.0B | $1.3B | ||
| Q1 25 | $926.9M | $1.1B | ||
| Q4 24 | $701.2M | $1.1B | ||
| Q3 24 | $692.4M | $1.0B | ||
| Q2 24 | $681.3M | $929.2M |
| Q1 26 | $11.4M | — | ||
| Q4 25 | $-11.0M | $66.5M | ||
| Q3 25 | $3.7M | $124.8M | ||
| Q2 25 | $15.7M | $94.3M | ||
| Q1 25 | $-9.1M | $1.3M | ||
| Q4 24 | $-31.1M | $-151.9M | ||
| Q3 24 | $-26.4M | $-121.3M | ||
| Q2 24 | $-24.0M | $-120.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | 90.5% | ||
| Q3 25 | — | 86.1% | ||
| Q2 25 | — | 87.5% | ||
| Q1 25 | — | 85.2% | ||
| Q4 24 | — | 85.8% | ||
| Q3 24 | — | 83.0% | ||
| Q2 24 | — | 85.1% |
| Q1 26 | — | — | ||
| Q4 25 | -1.0% | 12.4% | ||
| Q3 25 | 0.8% | 11.5% | ||
| Q2 25 | 2.2% | 6.7% | ||
| Q1 25 | -0.6% | 1.0% | ||
| Q4 24 | -3.2% | -7.0% | ||
| Q3 24 | -2.8% | -12.0% | ||
| Q2 24 | -2.7% | -11.5% |
| Q1 26 | 0.9% | — | ||
| Q4 25 | -1.1% | 4.4% | ||
| Q3 25 | 0.4% | 8.8% | ||
| Q2 25 | 1.5% | 7.2% | ||
| Q1 25 | -1.0% | 0.1% | ||
| Q4 24 | -4.4% | -13.5% | ||
| Q3 24 | -3.8% | -12.1% | ||
| Q2 24 | -3.5% | -13.0% |
| Q1 26 | — | — | ||
| Q4 25 | $-0.04 | $0.05 | ||
| Q3 25 | $0.02 | $0.08 | ||
| Q2 25 | $0.07 | $0.06 | ||
| Q1 25 | $-0.05 | $0.00 | ||
| Q4 24 | $-0.15 | $-0.10 | ||
| Q3 24 | $-0.14 | $-0.09 | ||
| Q2 24 | $-0.13 | $-0.09 |
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 | $4.5B |
| Total DebtLower is stronger | — | $836.4M |
| Stockholders' EquityBook value | $206.9M | $4.4B |
| Total Assets | $1.3B | $8.2B |
| Debt / EquityLower = less leverage | — | 0.19× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $705.6M | — | ||
| Q4 25 | $604.2M | $4.5B | ||
| Q3 25 | $644.1M | $4.0B | ||
| Q2 25 | $503.8M | $2.8B | ||
| Q1 25 | $479.5M | $2.5B | ||
| Q4 24 | $470.6M | $2.6B | ||
| Q3 24 | $381.0M | $2.7B | ||
| Q2 24 | $363.7M | $2.6B |
| Q1 26 | — | — | ||
| Q4 25 | $323.2M | $836.4M | ||
| Q3 25 | $322.7M | — | ||
| Q2 25 | $322.3M | — | ||
| Q1 25 | $321.9M | — | ||
| Q4 24 | $321.4M | — | ||
| Q3 24 | $212.0M | — | ||
| Q2 24 | $211.7M | — |
| Q1 26 | $206.9M | — | ||
| Q4 25 | $179.3M | $4.4B | ||
| Q3 25 | $161.9M | $4.1B | ||
| Q2 25 | $141.0M | $3.8B | ||
| Q1 25 | $108.1M | $3.5B | ||
| Q4 24 | $99.9M | $3.3B | ||
| Q3 24 | $114.5M | $3.4B | ||
| Q2 24 | $123.7M | $3.4B |
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.1B | $8.2B | ||
| Q3 25 | $1.1B | $7.6B | ||
| Q2 25 | $1.0B | $6.3B | ||
| Q1 25 | $895.6M | $5.8B | ||
| Q4 24 | $782.1M | $5.9B | ||
| Q3 24 | $692.3M | $5.8B | ||
| Q2 24 | $716.3M | $5.7B |
| Q1 26 | — | — | ||
| Q4 25 | 1.80× | 0.19× | ||
| Q3 25 | 1.99× | — | ||
| Q2 25 | 2.29× | — | ||
| Q1 25 | 2.98× | — | ||
| Q4 24 | 3.22× | — | ||
| Q3 24 | 1.85× | — | ||
| Q2 24 | 1.71× | — |
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 | $417.3M |
| Free Cash FlowOCF − Capex | — | $379.8M |
| FCF MarginFCF / Revenue | — | 25.4% |
| Capex IntensityCapex / Revenue | — | 2.5% |
| Cash ConversionOCF / Net Profit | 11.27× | 6.28× |
| TTM Free Cash FlowTrailing 4 quarters | — | $941.7M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $128.7M | — | ||
| Q4 25 | $-50.4M | $417.3M | ||
| Q3 25 | $144.6M | $402.6M | ||
| Q2 25 | $29.1M | $263.6M | ||
| Q1 25 | $16.6M | $44.1M | ||
| Q4 24 | $-8.7M | $75.2M | ||
| Q3 24 | $26.2M | $188.4M | ||
| Q2 24 | $23.5M | $-95.6M |
| Q1 26 | — | — | ||
| Q4 25 | $-55.4M | $379.8M | ||
| Q3 25 | $139.1M | $354.5M | ||
| Q2 25 | $21.1M | $219.8M | ||
| Q1 25 | $8.4M | $-12.3M | ||
| Q4 24 | $-18.0M | $-17.3M | ||
| Q3 24 | $16.9M | $54.7M | ||
| Q2 24 | $11.8M | $-205.5M |
| Q1 26 | — | — | ||
| Q4 25 | -5.5% | 25.4% | ||
| Q3 25 | 14.0% | 25.1% | ||
| Q2 25 | 2.1% | 16.7% | ||
| Q1 25 | 0.9% | -1.1% | ||
| Q4 24 | -2.6% | -1.5% | ||
| Q3 24 | 2.4% | 5.5% | ||
| Q2 24 | 1.7% | -22.1% |
| Q1 26 | — | — | ||
| Q4 25 | 0.5% | 2.5% | ||
| Q3 25 | 0.6% | 3.4% | ||
| Q2 25 | 0.8% | 3.3% | ||
| Q1 25 | 0.9% | 5.0% | ||
| Q4 24 | 1.3% | 8.2% | ||
| Q3 24 | 1.3% | 13.3% | ||
| Q2 24 | 1.7% | 11.8% |
| Q1 26 | 11.27× | — | ||
| Q4 25 | — | 6.28× | ||
| Q3 25 | 38.77× | 3.22× | ||
| Q2 25 | 1.86× | 2.79× | ||
| Q1 25 | — | 34.71× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
