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Alignment Healthcare, Inc.（ALHC）与ALLIANCE RESOURCE PARTNERS LP（ARLP）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ALLIANCE RESOURCE PARTNERS LP的2.0倍（$1.0B vs $516.0M），ALLIANCE RESOURCE PARTNERS LP净利率更高（2.1% vs -1.1%，领先3.2%），Alignment Healthcare, Inc.同比增速更快（44.4% vs -3.6%），ALLIANCE RESOURCE PARTNERS LP自由现金流更多（$13.3M vs $-55.4M），过去两年Alignment Healthcare, Inc.的营收复合增速更高（26.9% vs -6.7%）
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。
联合资源伙伴有限合伙是北美领先的自然资源企业，核心业务为公用事业及工业客户生产、销售煤炭，同时运营矿权特许经营、油气开采、物流配套等关联业务，服务覆盖美国及周边主要能源消费市场。
ALHC vs ARLP — 直观对比
营收规模更大
ALHC
是对方的2.0倍
$516.0M
营收增速更快
ALHC
高出48.1%
-3.6%
净利率更高
ARLP
高出3.2%
-1.1%
自由现金流更多
ARLP
多$68.7M
$-55.4M
两年增速更快
ALHC
近两年复合增速
-6.7%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $516.0M |
| 净利润 | $-11.0M | $10.7M |
| 毛利率 | — | — |
| 营业利润率 | -1.0% | 4.2% |
| 净利率 | -1.1% | 2.1% |
| 营收同比 | 44.4% | -3.6% |
| 净利润同比 | 64.6% | — |
| 每股收益（稀释后） | $-0.04 | — |
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ALHCARLP
| Q1 26 | — | $516.0M | ||
| Q4 25 | $1.0B | $535.5M | ||
| Q3 25 | $993.7M | $571.4M | ||
| Q2 25 | $1.0B | $547.5M | ||
| Q1 25 | $926.9M | $540.5M | ||
| Q4 24 | $701.2M | $590.1M | ||
| Q3 24 | $692.4M | $613.6M | ||
| Q2 24 | $681.3M | $593.4M |
净利润ALHCARLP
| Q1 26 | — | $10.7M | ||
| Q4 25 | $-11.0M | $82.7M | ||
| Q3 25 | $3.7M | $95.1M | ||
| Q2 25 | $15.7M | $59.4M | ||
| Q1 25 | $-9.1M | $74.0M | ||
| Q4 24 | $-31.1M | $16.3M | ||
| Q3 24 | $-26.4M | $86.3M | ||
| Q2 24 | $-24.0M | $100.2M |
营业利润率ALHCARLP
| Q1 26 | — | 4.2% | ||
| Q4 25 | -1.0% | 18.2% | ||
| Q3 25 | 0.8% | 18.4% | ||
| Q2 25 | 2.2% | 16.2% | ||
| Q1 25 | -0.6% | 17.4% | ||
| Q4 24 | -3.2% | 2.6% | ||
| Q3 24 | -2.8% | 16.5% | ||
| Q2 24 | -2.7% | 19.8% |
净利率ALHCARLP
| Q1 26 | — | 2.1% | ||
| Q4 25 | -1.1% | 15.4% | ||
| Q3 25 | 0.4% | 16.6% | ||
| Q2 25 | 1.5% | 10.9% | ||
| Q1 25 | -1.0% | 13.7% | ||
| Q4 24 | -4.4% | 2.8% | ||
| Q3 24 | -3.8% | 14.1% | ||
| Q2 24 | -3.5% | 16.9% |
每股收益（稀释后）ALHCARLP
| Q1 26 | — | — | ||
| Q4 25 | $-0.04 | — | ||
| Q3 25 | $0.02 | — | ||
| Q2 25 | $0.07 | — | ||
| Q1 25 | $-0.05 | — | ||
| Q4 24 | $-0.15 | — | ||
| Q3 24 | $-0.14 | — | ||
| Q2 24 | $-0.13 | — |
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 | $28.9M |
| 总债务越低越好 | $323.2M | — |
| 股东权益账面价值 | $179.3M | — |
| 总资产 | $1.1B | $2.9B |
| 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ALHCARLP
| Q1 26 | — | $28.9M | ||
| Q4 25 | $604.2M | $71.2M | ||
| Q3 25 | $644.1M | $94.5M | ||
| Q2 25 | $503.8M | $55.0M | ||
| Q1 25 | $479.5M | $81.3M | ||
| Q4 24 | $470.6M | $137.0M | ||
| Q3 24 | $381.0M | $195.4M | ||
| Q2 24 | $363.7M | $203.7M |
总债务ALHCARLP
| Q1 26 | — | — | ||
| Q4 25 | $323.2M | — | ||
| Q3 25 | $322.7M | — | ||
| Q2 25 | $322.3M | — | ||
| Q1 25 | $321.9M | — | ||
| Q4 24 | $321.4M | — | ||
| Q3 24 | $212.0M | — | ||
| Q2 24 | $211.7M | — |
股东权益ALHCARLP
| Q1 26 | — | — | ||
| Q4 25 | $179.3M | — | ||
| Q3 25 | $161.9M | — | ||
| Q2 25 | $141.0M | — | ||
| Q1 25 | $108.1M | — | ||
| Q4 24 | $99.9M | — | ||
| Q3 24 | $114.5M | — | ||
| Q2 24 | $123.7M | — |
总资产ALHCARLP
| Q1 26 | — | $2.9B | ||
| Q4 25 | $1.1B | $2.9B | ||
| Q3 25 | $1.1B | $2.9B | ||
| Q2 25 | $1.0B | $2.9B | ||
| Q1 25 | $895.6M | $2.9B | ||
| Q4 24 | $782.1M | $2.9B | ||
| Q3 24 | $692.3M | $3.0B | ||
| Q2 24 | $716.3M | $3.1B |
负债/权益比ALHCARLP
| Q1 26 | — | — | ||
| 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× | — |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $-55.4M | $13.3M |
| 自由现金流率自由现金流/营收 | -5.5% | 2.6% |
| 资本支出强度资本支出/营收 | 0.5% | 18.5% |
| 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 | $342.2M |
8季度趋势，按日历期对齐
经营现金流ALHCARLP
| Q1 26 | — | — | ||
| Q4 25 | $-50.4M | $143.9M | ||
| Q3 25 | $144.6M | $209.9M | ||
| Q2 25 | $29.1M | $151.7M | ||
| Q1 25 | $16.6M | $145.7M | ||
| Q4 24 | $-8.7M | $168.4M | ||
| Q3 24 | $26.2M | $209.3M | ||
| Q2 24 | $23.5M | $215.8M |
自由现金流ALHCARLP
| Q1 26 | — | $13.3M | ||
| Q4 25 | $-55.4M | $99.1M | ||
| Q3 25 | $139.1M | $145.2M | ||
| Q2 25 | $21.1M | $84.7M | ||
| Q1 25 | $8.4M | $58.9M | ||
| Q4 24 | $-18.0M | $75.3M | ||
| Q3 24 | $16.9M | $99.0M | ||
| Q2 24 | $11.8M | $114.3M |
自由现金流率ALHCARLP
| Q1 26 | — | 2.6% | ||
| Q4 25 | -5.5% | 18.5% | ||
| Q3 25 | 14.0% | 25.4% | ||
| Q2 25 | 2.1% | 15.5% | ||
| Q1 25 | 0.9% | 10.9% | ||
| Q4 24 | -2.6% | 12.8% | ||
| Q3 24 | 2.4% | 16.1% | ||
| Q2 24 | 1.7% | 19.3% |
资本支出强度ALHCARLP
| Q1 26 | — | 18.5% | ||
| Q4 25 | 0.5% | 8.4% | ||
| Q3 25 | 0.6% | 11.3% | ||
| Q2 25 | 0.8% | 12.2% | ||
| Q1 25 | 0.9% | 16.1% | ||
| Q4 24 | 1.3% | 15.8% | ||
| Q3 24 | 1.3% | 18.0% | ||
| Q2 24 | 1.7% | 17.1% |
现金转化率ALHCARLP
| Q1 26 | — | — | ||
| Q4 25 | — | 1.74× | ||
| Q3 25 | 38.77× | 2.21× | ||
| Q2 25 | 1.86× | 2.55× | ||
| Q1 25 | — | 1.97× | ||
| Q4 24 | — | 10.31× | ||
| Q3 24 | — | 2.43× | ||
| Q2 24 | — | 2.15× |
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
ARLP
| Coal sales | $443.3M | 86% |
| Oil & gas royalties | $41.3M | 8% |
| Other revenues | $22.8M | 4% |
| Transportation revenues | $8.6M | 2% |
| Tons Produced | $8.0M | 2% |
| Mineral Interest Volumes (BOE) | $1.0M | 0% |
