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Alignment Healthcare, Inc.（ALHC）与AMN HEALTHCARE SERVICES INC（AMN）财务数据对比。点击上方公司名可切换其他公司
Alignment Healthcare, Inc.的季度营收约是AMN HEALTHCARE SERVICES INC的1.4倍（$1.0B vs $748.2M），AMN HEALTHCARE SERVICES INC净利率更高（-1.0% vs -1.1%，领先0.1%），Alignment Healthcare, Inc.同比增速更快（44.4% vs 1.8%），AMN HEALTHCARE SERVICES INC自由现金流更多（$67.6M vs $-55.4M），过去两年Alignment Healthcare, Inc.的营收复合增速更高（26.9% vs -4.5%）
Alignment Healthcare是总部位于美国的医疗保健企业，主打联邦医疗保险优势计划，为老年群体提供协调医疗服务、处方药保障及补充福利，采用价值导向医疗模式，与本土医疗机构合作，业务覆盖美国多个州，致力提升患者健康水平。
AMN医疗保健服务公司是美国领先的医疗人力资源解决方案提供商，主要为医院、诊所等各类医疗机构提供护士、医师、医技人员及其他临床、非临床岗位的临时与长期派遣服务，同时提供医护团队管理技术支持及相关咨询服务。
ALHC vs AMN — 直观对比
营收规模更大
ALHC
是对方的1.4倍
$748.2M
营收增速更快
ALHC
高出42.6%
1.8%
净利率更高
AMN
高出0.1%
-1.1%
自由现金流更多
AMN
多$123.0M
$-55.4M
两年增速更快
ALHC
近两年复合增速
-4.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $748.2M |
| 净利润 | $-11.0M | $-7.7M |
| 毛利率 | — | 26.1% |
| 营业利润率 | -1.0% | 1.1% |
| 净利率 | -1.1% | -1.0% |
| 营收同比 | 44.4% | 1.8% |
| 净利润同比 | 64.6% | 95.9% |
| 每股收益（稀释后） | $-0.04 | $-0.19 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收ALHCAMN
| Q4 25 | $1.0B | $748.2M | ||
| Q3 25 | $993.7M | $634.5M | ||
| Q2 25 | $1.0B | $658.2M | ||
| Q1 25 | $926.9M | $689.5M | ||
| Q4 24 | $701.2M | $734.7M | ||
| Q3 24 | $692.4M | $687.5M | ||
| Q2 24 | $681.3M | $740.7M | ||
| Q1 24 | $628.6M | $820.9M |
净利润ALHCAMN
| Q4 25 | $-11.0M | $-7.7M | ||
| Q3 25 | $3.7M | $29.3M | ||
| Q2 25 | $15.7M | $-116.2M | ||
| Q1 25 | $-9.1M | $-1.1M | ||
| Q4 24 | $-31.1M | $-187.5M | ||
| Q3 24 | $-26.4M | $7.0M | ||
| Q2 24 | $-24.0M | $16.2M | ||
| Q1 24 | $-46.5M | $17.3M |
毛利率ALHCAMN
| Q4 25 | — | 26.1% | ||
| Q3 25 | — | 29.1% | ||
| Q2 25 | — | 29.8% | ||
| Q1 25 | — | 28.7% | ||
| Q4 24 | — | 29.8% | ||
| Q3 24 | — | 31.0% | ||
| Q2 24 | — | 31.0% | ||
| Q1 24 | — | 31.4% |
营业利润率ALHCAMN
| Q4 25 | -1.0% | 1.1% | ||
| Q3 25 | 0.8% | 7.5% | ||
| Q2 25 | 2.2% | -18.8% | ||
| Q1 25 | -0.6% | 1.8% | ||
| Q4 24 | -3.2% | -27.6% | ||
| Q3 24 | -2.8% | 3.2% | ||
| Q2 24 | -2.7% | 5.1% | ||
| Q1 24 | -6.5% | 4.9% |
净利率ALHCAMN
| Q4 25 | -1.1% | -1.0% | ||
| Q3 25 | 0.4% | 4.6% | ||
| Q2 25 | 1.5% | -17.7% | ||
| Q1 25 | -1.0% | -0.2% | ||
| Q4 24 | -4.4% | -25.5% | ||
| Q3 24 | -3.8% | 1.0% | ||
| Q2 24 | -3.5% | 2.2% | ||
| Q1 24 | -7.4% | 2.1% |
每股收益（稀释后）ALHCAMN
| Q4 25 | $-0.04 | $-0.19 | ||
| Q3 25 | $0.02 | $0.76 | ||
| Q2 25 | $0.07 | $-3.02 | ||
| Q1 25 | $-0.05 | $-0.03 | ||
| Q4 24 | $-0.15 | $-4.90 | ||
| Q3 24 | $-0.14 | $0.18 | ||
| Q2 24 | $-0.13 | $0.42 | ||
| Q1 24 | $-0.25 | $0.45 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $604.2M | $34.0M |
| 总债务越低越好 | $323.2M | $767.1M |
| 股东权益账面价值 | $179.3M | $642.1M |
| 总资产 | $1.1B | $2.1B |
| 负债/权益比越低杠杆越低 | 1.80× | 1.19× |
8季度趋势，按日历期对齐
现金及短期投资ALHCAMN
| Q4 25 | $604.2M | $34.0M | ||
| Q3 25 | $644.1M | $52.6M | ||
| Q2 25 | $503.8M | $41.5M | ||
| Q1 25 | $479.5M | $55.8M | ||
| Q4 24 | $470.6M | $10.6M | ||
| Q3 24 | $381.0M | $30.6M | ||
| Q2 24 | $363.7M | $48.0M | ||
| Q1 24 | $301.7M | $50.6M |
总债务ALHCAMN
| Q4 25 | $323.2M | $767.1M | ||
| Q3 25 | $322.7M | — | ||
| Q2 25 | $322.3M | — | ||
| Q1 25 | $321.9M | — | ||
| Q4 24 | $321.4M | $1.1B | ||
| Q3 24 | $212.0M | — | ||
| Q2 24 | $211.7M | — | ||
| Q1 24 | $162.0M | — |
股东权益ALHCAMN
| Q4 25 | $179.3M | $642.1M | ||
| Q3 25 | $161.9M | $644.4M | ||
| Q2 25 | $141.0M | $607.6M | ||
| Q1 25 | $108.1M | $715.1M | ||
| Q4 24 | $99.9M | $706.6M | ||
| Q3 24 | $114.5M | $890.7M | ||
| Q2 24 | $123.7M | $876.9M | ||
| Q1 24 | $130.9M | $854.2M |
总资产ALHCAMN
| Q4 25 | $1.1B | $2.1B | ||
| Q3 25 | $1.1B | $2.1B | ||
| Q2 25 | $1.0B | $2.2B | ||
| Q1 25 | $895.6M | $2.4B | ||
| Q4 24 | $782.1M | $2.4B | ||
| Q3 24 | $692.3M | $2.7B | ||
| Q2 24 | $716.3M | $2.8B | ||
| Q1 24 | $633.2M | $2.9B |
负债/权益比ALHCAMN
| Q4 25 | 1.80× | 1.19× | ||
| Q3 25 | 1.99× | — | ||
| Q2 25 | 2.29× | — | ||
| Q1 25 | 2.98× | — | ||
| Q4 24 | 3.22× | 1.49× | ||
| Q3 24 | 1.85× | — | ||
| Q2 24 | 1.71× | — | ||
| Q1 24 | 1.24× | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $-50.4M | $75.6M |
| 自由现金流经营现金流 - 资本支出 | $-55.4M | $67.6M |
| 自由现金流率自由现金流/营收 | -5.5% | 9.0% |
| 资本支出强度资本支出/营收 | 0.5% | 1.1% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $113.1M | $233.8M |
8季度趋势，按日历期对齐
经营现金流ALHCAMN
| Q4 25 | $-50.4M | $75.6M | ||
| Q3 25 | $144.6M | $22.7M | ||
| Q2 25 | $29.1M | $78.5M | ||
| Q1 25 | $16.6M | $92.7M | ||
| Q4 24 | $-8.7M | $72.8M | ||
| Q3 24 | $26.2M | $66.7M | ||
| Q2 24 | $23.5M | $99.5M | ||
| Q1 24 | $-6.2M | $81.4M |
自由现金流ALHCAMN
| Q4 25 | $-55.4M | $67.6M | ||
| Q3 25 | $139.1M | $14.8M | ||
| Q2 25 | $21.1M | $68.7M | ||
| Q1 25 | $8.4M | $82.7M | ||
| Q4 24 | $-18.0M | $56.6M | ||
| Q3 24 | $16.9M | $47.4M | ||
| Q2 24 | $11.8M | $72.2M | ||
| Q1 24 | $-17.4M | $63.2M |
自由现金流率ALHCAMN
| Q4 25 | -5.5% | 9.0% | ||
| Q3 25 | 14.0% | 2.3% | ||
| Q2 25 | 2.1% | 10.4% | ||
| Q1 25 | 0.9% | 12.0% | ||
| Q4 24 | -2.6% | 7.7% | ||
| Q3 24 | 2.4% | 6.9% | ||
| Q2 24 | 1.7% | 9.8% | ||
| Q1 24 | -2.8% | 7.7% |
资本支出强度ALHCAMN
| Q4 25 | 0.5% | 1.1% | ||
| Q3 25 | 0.6% | 1.2% | ||
| Q2 25 | 0.8% | 1.5% | ||
| Q1 25 | 0.9% | 1.4% | ||
| Q4 24 | 1.3% | 2.2% | ||
| Q3 24 | 1.3% | 2.8% | ||
| Q2 24 | 1.7% | 3.7% | ||
| Q1 24 | 1.8% | 2.2% |
现金转化率ALHCAMN
| Q4 25 | — | — | ||
| Q3 25 | 38.77× | 0.77× | ||
| Q2 25 | 1.86× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 9.54× | ||
| Q2 24 | — | 6.13× | ||
| Q1 24 | — | 4.70× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
ALHC
暂无分部数据
AMN
| Travel Nurse Staffing | $208.3M | 28% |
| Allied Staffing | $146.9M | 20% |
| Labor Disruption Services | $124.3M | 17% |
| Technology And Workforce Solutions | $88.0M | 12% |
| Language Services | $69.9M | 9% |
| Other | $29.6M | 4% |
| International Nurse Staffing | $29.6M | 4% |
| Interim Leadership Staffing | $24.1M | 3% |
| Vendor Management Systems | $16.3M | 2% |
| Local Staffing | $8.6M | 1% |
| International Nurse Permanent Placement | $2.6M | 0% |
