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Side-by-side financial comparison of Alignment Healthcare, Inc. (ALHC) and WATSCO INC (WSO). Click either name above to swap in a different company.
WATSCO INC is the larger business by last-quarter revenue ($1.5B vs $1.2B, roughly 1.2× Alignment Healthcare, Inc.). WATSCO INC runs the higher net margin — 6.1% vs 0.9%, a 5.1% gap on every dollar of revenue. On growth, WATSCO INC posted the faster year-over-year revenue change (0.1% vs -74.7%). Over the past eight quarters, Alignment Healthcare, Inc.'s revenue compounded faster (34.6% CAGR vs -15.3%).
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.
Watsco, Inc. is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R) in the United States. Watsco was founded more than 60 years ago as a manufacturer of parts, components, and tools used in the HVAC/R industry. In 1989, the company shifted from manufacturing to distribution, by acquiring Gemaire Distributors Inc., a South Florida-based Rheem distributor.
ALHC vs WSO — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $1.5B |
| Net Profit | $11.4M | $92.9M |
| Gross Margin | — | 27.9% |
| Operating Margin | — | 7.2% |
| Net Margin | 0.9% | 6.1% |
| Revenue YoY | -74.7% | 0.1% |
| Net Profit YoY | — | -1.7% |
| EPS (diluted) | — | — |
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 | $1.5B | ||
| Q4 25 | $1.0B | $1.6B | ||
| Q3 25 | $993.7M | $2.1B | ||
| Q2 25 | $1.0B | $2.1B | ||
| Q1 25 | $926.9M | $1.5B | ||
| Q4 24 | $701.2M | $1.8B | ||
| Q3 24 | $692.4M | $2.2B | ||
| Q2 24 | $681.3M | $2.1B |
| Q1 26 | $11.4M | $92.9M | ||
| Q4 25 | $-11.0M | $71.7M | ||
| Q3 25 | $3.7M | $161.6M | ||
| Q2 25 | $15.7M | $183.6M | ||
| Q1 25 | $-9.1M | $80.1M | ||
| Q4 24 | $-31.1M | $96.8M | ||
| Q3 24 | $-26.4M | $171.0M | ||
| Q2 24 | $-24.0M | $181.4M |
| Q1 26 | — | 27.9% | ||
| Q4 25 | — | 27.1% | ||
| Q3 25 | — | 27.5% | ||
| Q2 25 | — | 29.3% | ||
| Q1 25 | — | 28.1% | ||
| Q4 24 | — | 26.7% | ||
| Q3 24 | — | 26.2% | ||
| Q2 24 | — | 27.1% |
| Q1 26 | — | 7.2% | ||
| Q4 25 | -1.0% | 6.4% | ||
| Q3 25 | 0.8% | 11.4% | ||
| Q2 25 | 2.2% | 13.2% | ||
| Q1 25 | -0.6% | 7.3% | ||
| Q4 24 | -3.2% | 7.8% | ||
| Q3 24 | -2.8% | 11.6% | ||
| Q2 24 | -2.7% | 12.6% |
| Q1 26 | 0.9% | 6.1% | ||
| Q4 25 | -1.1% | 4.5% | ||
| Q3 25 | 0.4% | 7.8% | ||
| Q2 25 | 1.5% | 8.9% | ||
| Q1 25 | -1.0% | 5.2% | ||
| Q4 24 | -4.4% | 5.5% | ||
| Q3 24 | -3.8% | 7.9% | ||
| Q2 24 | -3.5% | 8.5% |
| Q1 26 | — | — | ||
| Q4 25 | $-0.04 | $1.82 | ||
| Q3 25 | $0.02 | $3.98 | ||
| Q2 25 | $0.07 | $4.52 | ||
| Q1 25 | $-0.05 | $1.93 | ||
| Q4 24 | $-0.15 | $2.42 | ||
| Q3 24 | $-0.14 | $4.22 | ||
| Q2 24 | $-0.13 | $4.49 |
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 | $392.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $206.9M | $3.2B |
| Total Assets | $1.3B | $4.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $705.6M | $392.7M | ||
| Q4 25 | $604.2M | $733.3M | ||
| Q3 25 | $644.1M | $524.3M | ||
| Q2 25 | $503.8M | $293.0M | ||
| Q1 25 | $479.5M | $431.8M | ||
| Q4 24 | $470.6M | $781.9M | ||
| Q3 24 | $381.0M | $550.0M | ||
| Q2 24 | $363.7M | $424.9M |
| Q1 26 | — | — | ||
| Q4 25 | $323.2M | $361.6M | ||
| Q3 25 | $322.7M | $340.8M | ||
| Q2 25 | $322.3M | $338.7M | ||
| Q1 25 | $321.9M | $346.4M | ||
| Q4 24 | $321.4M | $337.2M | ||
| Q3 24 | $212.0M | $321.0M | ||
| Q2 24 | $211.7M | $307.1M |
| Q1 26 | $206.9M | $3.2B | ||
| Q4 25 | $179.3M | $2.8B | ||
| Q3 25 | $161.9M | $2.8B | ||
| Q2 25 | $141.0M | $2.8B | ||
| Q1 25 | $108.1M | $2.7B | ||
| Q4 24 | $99.9M | $2.7B | ||
| Q3 24 | $114.5M | $2.7B | ||
| Q2 24 | $123.7M | $2.6B |
| Q1 26 | $1.3B | $4.6B | ||
| Q4 25 | $1.1B | $4.4B | ||
| Q3 25 | $1.1B | $4.6B | ||
| Q2 25 | $1.0B | $4.7B | ||
| Q1 25 | $895.6M | $4.5B | ||
| Q4 24 | $782.1M | $4.5B | ||
| Q3 24 | $692.3M | $4.5B | ||
| Q2 24 | $716.3M | $4.4B |
| Q1 26 | — | — | ||
| Q4 25 | 1.80× | 0.13× | ||
| Q3 25 | 1.99× | 0.12× | ||
| Q2 25 | 2.29× | 0.12× | ||
| Q1 25 | 2.98× | 0.13× | ||
| Q4 24 | 3.22× | 0.13× | ||
| Q3 24 | 1.85× | 0.12× | ||
| Q2 24 | 1.71× | 0.12× |
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 | — |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 11.27× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $128.7M | — | ||
| Q4 25 | $-50.4M | $399.8M | ||
| Q3 25 | $144.6M | $354.9M | ||
| Q2 25 | $29.1M | $-7.4M | ||
| Q1 25 | $16.6M | $-177.6M | ||
| Q4 24 | $-8.7M | $378.9M | ||
| Q3 24 | $26.2M | $232.8M | ||
| Q2 24 | $23.5M | $57.7M |
| Q1 26 | — | — | ||
| Q4 25 | $-55.4M | $388.5M | ||
| Q3 25 | $139.1M | $346.1M | ||
| Q2 25 | $21.1M | $-14.3M | ||
| Q1 25 | $8.4M | $-185.2M | ||
| Q4 24 | $-18.0M | $370.9M | ||
| Q3 24 | $16.9M | $223.0M | ||
| Q2 24 | $11.8M | $51.3M |
| Q1 26 | — | — | ||
| Q4 25 | -5.5% | 24.6% | ||
| Q3 25 | 14.0% | 16.7% | ||
| Q2 25 | 2.1% | -0.7% | ||
| Q1 25 | 0.9% | -12.1% | ||
| Q4 24 | -2.6% | 21.1% | ||
| Q3 24 | 2.4% | 10.3% | ||
| Q2 24 | 1.7% | 2.4% |
| Q1 26 | — | — | ||
| Q4 25 | 0.5% | 0.7% | ||
| Q3 25 | 0.6% | 0.4% | ||
| Q2 25 | 0.8% | 0.3% | ||
| Q1 25 | 0.9% | 0.5% | ||
| Q4 24 | 1.3% | 0.5% | ||
| Q3 24 | 1.3% | 0.5% | ||
| Q2 24 | 1.7% | 0.3% |
| Q1 26 | 11.27× | — | ||
| Q4 25 | — | 5.57× | ||
| Q3 25 | 38.77× | 2.20× | ||
| Q2 25 | 1.86× | -0.04× | ||
| Q1 25 | — | -2.22× | ||
| Q4 24 | — | 3.91× | ||
| Q3 24 | — | 1.36× | ||
| Q2 24 | — | 0.32× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
