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Alignment Healthcare, Inc.（ALHC）与Amneal Pharmaceuticals, Inc.（AMRX）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Amneal Pharmaceuticals, Inc.的1.2倍（$1.0B vs $814.3M），Amneal Pharmaceuticals, Inc.净利率更高（4.3% vs -1.1%，领先5.4%），Alignment Healthcare, Inc.同比增速更快（44.4% vs 11.5%），Amneal Pharmaceuticals, Inc.自由现金流更多（$108.5M vs $-55.4M），过去两年Alignment Healthcare, Inc.的营收复合增速更高（26.9% vs 11.1%）
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。
Amneal Pharmaceuticals是一家美国上市制药企业，核心业务涵盖仿制药及专科药物的研发、生产与分销，总部位于新泽西州布里奇沃特，是美国规模最大的仿制药生产商之一。
ALHC vs AMRX — 直观对比
营收规模更大
ALHC
是对方的1.2倍
$814.3M
营收增速更快
ALHC
高出33.0%
11.5%
净利率更高
AMRX
高出5.4%
-1.1%
自由现金流更多
AMRX
多$163.9M
$-55.4M
两年增速更快
ALHC
近两年复合增速
11.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $814.3M |
| 净利润 | $-11.0M | $35.1M |
| 毛利率 | — | 36.5% |
| 营业利润率 | -1.0% | 13.8% |
| 净利率 | -1.1% | 4.3% |
| 营收同比 | 44.4% | 11.5% |
| 净利润同比 | 64.6% | 212.9% |
| 每股收益（稀释后） | $-0.04 | $0.10 |
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ALHCAMRX
| Q4 25 | $1.0B | $814.3M | ||
| Q3 25 | $993.7M | $784.5M | ||
| Q2 25 | $1.0B | $724.5M | ||
| Q1 25 | $926.9M | $695.4M | ||
| Q4 24 | $701.2M | $730.5M | ||
| Q3 24 | $692.4M | $702.5M | ||
| Q2 24 | $681.3M | $701.8M | ||
| Q1 24 | $628.6M | $659.2M |
净利润ALHCAMRX
| Q4 25 | $-11.0M | $35.1M | ||
| Q3 25 | $3.7M | $2.4M | ||
| Q2 25 | $15.7M | $22.4M | ||
| Q1 25 | $-9.1M | $12.2M | ||
| Q4 24 | $-31.1M | $-31.1M | ||
| Q3 24 | $-26.4M | $-156.0K | ||
| Q2 24 | $-24.0M | $6.0M | ||
| Q1 24 | $-46.5M | $-91.6M |
毛利率ALHCAMRX
| Q4 25 | — | 36.5% | ||
| Q3 25 | — | 34.9% | ||
| Q2 25 | — | 39.5% | ||
| Q1 25 | — | 36.8% | ||
| Q4 24 | — | 36.0% | ||
| Q3 24 | — | 38.4% | ||
| Q2 24 | — | 35.6% | ||
| Q1 24 | — | 36.1% |
营业利润率ALHCAMRX
| Q4 25 | -1.0% | 13.8% | ||
| Q3 25 | 0.8% | 9.0% | ||
| Q2 25 | 2.2% | 15.4% | ||
| Q1 25 | -0.6% | 14.4% | ||
| Q4 24 | -3.2% | 10.4% | ||
| Q3 24 | -2.8% | 12.6% | ||
| Q2 24 | -2.7% | 13.6% | ||
| Q1 24 | -6.5% | -1.6% |
净利率ALHCAMRX
| Q4 25 | -1.1% | 4.3% | ||
| Q3 25 | 0.4% | 0.3% | ||
| Q2 25 | 1.5% | 3.1% | ||
| Q1 25 | -1.0% | 1.8% | ||
| Q4 24 | -4.4% | -4.3% | ||
| Q3 24 | -3.8% | -0.0% | ||
| Q2 24 | -3.5% | 0.9% | ||
| Q1 24 | -7.4% | -13.9% |
每股收益（稀释后）ALHCAMRX
| Q4 25 | $-0.04 | $0.10 | ||
| Q3 25 | $0.02 | $0.01 | ||
| Q2 25 | $0.07 | $0.07 | ||
| Q1 25 | $-0.05 | $0.04 | ||
| Q4 24 | $-0.15 | $-0.10 | ||
| Q3 24 | $-0.14 | $0.00 | ||
| Q2 24 | $-0.13 | $0.02 | ||
| Q1 24 | $-0.25 | $-0.30 |
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 | $282.0M |
| 总债务越低越好 | $323.2M | $2.6B |
| 股东权益账面价值 | $179.3M | $-70.8M |
| 总资产 | $1.1B | $3.7B |
| 负债/权益比越低杠杆越低 | 1.80× | — |
8季度趋势，按日历期对齐
现金及短期投资ALHCAMRX
| Q4 25 | $604.2M | $282.0M | ||
| Q3 25 | $644.1M | $201.2M | ||
| Q2 25 | $503.8M | $71.5M | ||
| Q1 25 | $479.5M | $59.2M | ||
| Q4 24 | $470.6M | $110.6M | ||
| Q3 24 | $381.0M | $74.0M | ||
| Q2 24 | $363.7M | $43.8M | ||
| Q1 24 | $301.7M | $46.5M |
总债务ALHCAMRX
| Q4 25 | $323.2M | $2.6B | ||
| Q3 25 | $322.7M | $2.6B | ||
| Q2 25 | $322.3M | $2.2B | ||
| Q1 25 | $321.9M | $2.2B | ||
| Q4 24 | $321.4M | $2.4B | ||
| Q3 24 | $212.0M | $2.4B | ||
| Q2 24 | $211.7M | $2.4B | ||
| Q1 24 | $162.0M | $2.4B |
股东权益ALHCAMRX
| Q4 25 | $179.3M | $-70.8M | ||
| Q3 25 | $161.9M | $-109.5M | ||
| Q2 25 | $141.0M | $-112.1M | ||
| Q1 25 | $108.1M | $-131.7M | ||
| Q4 24 | $99.9M | $-109.3M | ||
| Q3 24 | $114.5M | $-93.4M | ||
| Q2 24 | $123.7M | $-57.5M | ||
| Q1 24 | $130.9M | $-63.7M |
总资产ALHCAMRX
| Q4 25 | $1.1B | $3.7B | ||
| Q3 25 | $1.1B | $3.6B | ||
| Q2 25 | $1.0B | $3.4B | ||
| Q1 25 | $895.6M | $3.4B | ||
| Q4 24 | $782.1M | $3.5B | ||
| Q3 24 | $692.3M | $3.5B | ||
| Q2 24 | $716.3M | $3.5B | ||
| Q1 24 | $633.2M | $3.5B |
负债/权益比ALHCAMRX
| Q4 25 | 1.80× | — | ||
| Q3 25 | 1.99× | — | ||
| Q2 25 | 2.29× | — | ||
| Q1 25 | 2.98× | — | ||
| Q4 24 | 3.22× | — | ||
| 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 | $130.3M |
| 自由现金流经营现金流 - 资本支出 | $-55.4M | $108.5M |
| 自由现金流率自由现金流/营收 | -5.5% | 13.3% |
| 资本支出强度资本支出/营收 | 0.5% | 2.7% |
| 现金转化率经营现金流/净利润 | — | 3.72× |
| 过去12个月自由现金流最近4个季度 | $113.1M | $269.9M |
8季度趋势，按日历期对齐
经营现金流ALHCAMRX
| Q4 25 | $-50.4M | $130.3M | ||
| Q3 25 | $144.6M | $118.5M | ||
| Q2 25 | $29.1M | $83.8M | ||
| Q1 25 | $16.6M | $7.4M | ||
| Q4 24 | $-8.7M | $118.1M | ||
| Q3 24 | $26.2M | $141.8M | ||
| Q2 24 | $23.5M | $39.7M | ||
| Q1 24 | $-6.2M | $-4.4M |
自由现金流ALHCAMRX
| Q4 25 | $-55.4M | $108.5M | ||
| Q3 25 | $139.1M | $106.2M | ||
| Q2 25 | $21.1M | $61.0M | ||
| Q1 25 | $8.4M | $-5.8M | ||
| Q4 24 | $-18.0M | $102.9M | ||
| Q3 24 | $16.9M | $124.8M | ||
| Q2 24 | $11.8M | $29.0M | ||
| Q1 24 | $-17.4M | $-13.6M |
自由现金流率ALHCAMRX
| Q4 25 | -5.5% | 13.3% | ||
| Q3 25 | 14.0% | 13.5% | ||
| Q2 25 | 2.1% | 8.4% | ||
| Q1 25 | 0.9% | -0.8% | ||
| Q4 24 | -2.6% | 14.1% | ||
| Q3 24 | 2.4% | 17.8% | ||
| Q2 24 | 1.7% | 4.1% | ||
| Q1 24 | -2.8% | -2.1% |
资本支出强度ALHCAMRX
| Q4 25 | 0.5% | 2.7% | ||
| Q3 25 | 0.6% | 1.6% | ||
| Q2 25 | 0.8% | 3.2% | ||
| Q1 25 | 0.9% | 1.9% | ||
| Q4 24 | 1.3% | 2.1% | ||
| Q3 24 | 1.3% | 2.4% | ||
| Q2 24 | 1.7% | 1.5% | ||
| Q1 24 | 1.8% | 1.4% |
现金转化率ALHCAMRX
| Q4 25 | — | 3.72× | ||
| Q3 25 | 38.77× | 50.00× | ||
| Q2 25 | 1.86× | 3.74× | ||
| Q1 25 | — | 0.61× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 6.62× | ||
| Q1 24 | — | — |
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
AMRX
| Oral Solid | $188.7M | 23% |
| Distribution Service | $107.7M | 13% |
| Central Nervous System | $104.8M | 13% |
| Government Label | $86.8M | 11% |
| Other Dosage Forms | $68.2M | 8% |
| Transdermal | $56.1M | 7% |
| Hormonal Allergy | $47.6M | 6% |
| Ephinephrine Auto Injector | $39.1M | 5% |
| Injectable | $37.4M | 5% |
| Other | $33.6M | 4% |
| Biosimilar | $29.4M | 4% |
| Selling General And Administrative Expenses | $14.9M | 2% |
