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Side-by-side financial comparison of Alignment Healthcare, Inc. (ALHC) and TRUPANION, INC. (TRUP). Click either name above to swap in a different company.
Alignment Healthcare, Inc. is the larger business by last-quarter revenue ($1.0B vs $376.9M, roughly 2.7× TRUPANION, INC.). On growth, Alignment Healthcare, Inc. posted the faster year-over-year revenue change (44.4% vs 11.7%). TRUPANION, INC. produced more free cash flow last quarter ($25.3M vs $-55.4M). Over the past eight quarters, Alignment Healthcare, Inc.'s revenue compounded faster (26.9% CAGR vs 11.0%).
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.
TRUPANION, INC.TRUPEarnings & Financial Report
Trupanion, Inc. is a pet insurance provider headquartered in Seattle, Washington. Established in 1998, Trupanion operates across the United States, Canada, Australia, and Puerto Rico. The company offers coverage for pets and is self-underwritten by the American Pet Insurance Company (APIC).
ALHC vs TRUP — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $1.0B | $376.9M |
| Net Profit | $-11.0M | — |
| Gross Margin | — | 17.3% |
| Operating Margin | -1.0% | 1.9% |
| Net Margin | -1.1% | — |
| Revenue YoY | 44.4% | 11.7% |
| Net Profit YoY | 64.6% | — |
| EPS (diluted) | $-0.04 | $0.13 |
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 | $376.9M | ||
| Q3 25 | $993.7M | $366.9M | ||
| Q2 25 | $1.0B | $353.6M | ||
| Q1 25 | $926.9M | $342.0M | ||
| Q4 24 | $701.2M | $337.3M | ||
| Q3 24 | $692.4M | $327.5M | ||
| Q2 24 | $681.3M | $314.8M | ||
| Q1 24 | $628.6M | $306.1M |
| Q4 25 | $-11.0M | — | ||
| Q3 25 | $3.7M | — | ||
| Q2 25 | $15.7M | — | ||
| Q1 25 | $-9.1M | — | ||
| Q4 24 | $-31.1M | — | ||
| Q3 24 | $-26.4M | — | ||
| Q2 24 | $-24.0M | — | ||
| Q1 24 | $-46.5M | — |
| Q4 25 | — | 17.3% | ||
| Q3 25 | — | 16.4% | ||
| Q2 25 | — | 15.5% | ||
| Q1 25 | — | 14.9% | ||
| Q4 24 | — | 15.7% | ||
| Q3 24 | — | 15.1% | ||
| Q2 24 | — | 12.8% | ||
| Q1 24 | — | 11.8% |
| Q4 25 | -1.0% | 1.9% | ||
| Q3 25 | 0.8% | 1.6% | ||
| Q2 25 | 2.2% | 0.7% | ||
| Q1 25 | -0.6% | -0.4% | ||
| Q4 24 | -3.2% | 0.1% | ||
| Q3 24 | -2.8% | 0.5% | ||
| Q2 24 | -2.7% | -1.7% | ||
| Q1 24 | -6.5% | -2.0% |
| Q4 25 | -1.1% | — | ||
| Q3 25 | 0.4% | — | ||
| Q2 25 | 1.5% | — | ||
| Q1 25 | -1.0% | — | ||
| Q4 24 | -4.4% | — | ||
| Q3 24 | -3.8% | — | ||
| Q2 24 | -3.5% | — | ||
| Q1 24 | -7.4% | — |
| Q4 25 | $-0.04 | $0.13 | ||
| Q3 25 | $0.02 | $0.13 | ||
| Q2 25 | $0.07 | $0.22 | ||
| Q1 25 | $-0.05 | $-0.03 | ||
| Q4 24 | $-0.15 | $0.04 | ||
| Q3 24 | $-0.14 | $0.03 | ||
| Q2 24 | $-0.13 | $-0.14 | ||
| Q1 24 | $-0.25 | $-0.16 |
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 | $370.7M |
| Total DebtLower is stronger | $323.2M | $101.8M |
| Stockholders' EquityBook value | $179.3M | $383.9M |
| Total Assets | $1.1B | $915.0M |
| Debt / EquityLower = less leverage | 1.80× | 0.27× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $604.2M | $370.7M | ||
| Q3 25 | $644.1M | $348.5M | ||
| Q2 25 | $503.8M | $319.6M | ||
| Q1 25 | $479.5M | $321.8M | ||
| Q4 24 | $470.6M | $307.4M | ||
| Q3 24 | $381.0M | $293.1M | ||
| Q2 24 | $363.7M | $277.2M | ||
| Q1 24 | $301.7M | $275.2M |
| Q4 25 | $323.2M | $101.8M | ||
| Q3 25 | $322.7M | — | ||
| Q2 25 | $322.3M | — | ||
| Q1 25 | $321.9M | — | ||
| Q4 24 | $321.4M | $127.5M | ||
| Q3 24 | $212.0M | — | ||
| Q2 24 | $211.7M | — | ||
| Q1 24 | $162.0M | — |
| Q4 25 | $179.3M | $383.9M | ||
| Q3 25 | $161.9M | $368.6M | ||
| Q2 25 | $141.0M | $355.5M | ||
| Q1 25 | $108.1M | $333.7M | ||
| Q4 24 | $99.9M | $323.3M | ||
| Q3 24 | $114.5M | $320.2M | ||
| Q2 24 | $123.7M | $305.8M | ||
| Q1 24 | $130.9M | $303.4M |
| Q4 25 | $1.1B | $915.0M | ||
| Q3 25 | $1.1B | $880.2M | ||
| Q2 25 | $1.0B | $847.8M | ||
| Q1 25 | $895.6M | $837.2M | ||
| Q4 24 | $782.1M | $806.9M | ||
| Q3 24 | $692.3M | $816.1M | ||
| Q2 24 | $716.3M | $795.9M | ||
| Q1 24 | $633.2M | $789.5M |
| Q4 25 | 1.80× | 0.27× | ||
| Q3 25 | 1.99× | — | ||
| Q2 25 | 2.29× | — | ||
| Q1 25 | 2.98× | — | ||
| Q4 24 | 3.22× | 0.39× | ||
| 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 | $29.3M |
| Free Cash FlowOCF − Capex | $-55.4M | $25.3M |
| FCF MarginFCF / Revenue | -5.5% | 6.7% |
| Capex IntensityCapex / Revenue | 0.5% | 1.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $113.1M | $75.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-50.4M | $29.3M | ||
| Q3 25 | $144.6M | $29.2M | ||
| Q2 25 | $29.1M | $15.0M | ||
| Q1 25 | $16.6M | $16.0M | ||
| Q4 24 | $-8.7M | $23.7M | ||
| Q3 24 | $26.2M | $15.3M | ||
| Q2 24 | $23.5M | $6.9M | ||
| Q1 24 | $-6.2M | $2.4M |
| Q4 25 | $-55.4M | $25.3M | ||
| Q3 25 | $139.1M | $23.9M | ||
| Q2 25 | $21.1M | $12.0M | ||
| Q1 25 | $8.4M | $14.0M | ||
| Q4 24 | $-18.0M | $21.8M | ||
| Q3 24 | $16.9M | $13.4M | ||
| Q2 24 | $11.8M | $4.0M | ||
| Q1 24 | $-17.4M | $-631.0K |
| Q4 25 | -5.5% | 6.7% | ||
| Q3 25 | 14.0% | 6.5% | ||
| Q2 25 | 2.1% | 3.4% | ||
| Q1 25 | 0.9% | 4.1% | ||
| Q4 24 | -2.6% | 6.5% | ||
| Q3 24 | 2.4% | 4.1% | ||
| Q2 24 | 1.7% | 1.3% | ||
| Q1 24 | -2.8% | -0.2% |
| Q4 25 | 0.5% | 1.0% | ||
| Q3 25 | 0.6% | 1.4% | ||
| Q2 25 | 0.8% | 0.8% | ||
| Q1 25 | 0.9% | 0.6% | ||
| Q4 24 | 1.3% | 0.6% | ||
| Q3 24 | 1.3% | 0.6% | ||
| Q2 24 | 1.7% | 0.9% | ||
| Q1 24 | 1.8% | 1.0% |
| Q4 25 | — | — | ||
| Q3 25 | 38.77× | — | ||
| Q2 25 | 1.86× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
