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Alignment Healthcare, Inc.（ALHC）与Maplebear Inc.（CART）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Maplebear Inc.的1.0倍（$1.0B vs $992.0M），Maplebear Inc.净利率更高（8.2% vs -1.1%，领先9.3%），Alignment Healthcare, Inc.同比增速更快（44.4% vs 12.3%），Maplebear Inc.自由现金流更多（$171.0M vs $-55.4M），过去两年Alignment Healthcare, Inc.的营收复合增速更高（26.9% vs 10.0%）
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。
Maplebear Inc. 以Instacart为品牌开展业务，是总部位于美国旧金山的零售媒体及配送企业，在美国和加拿大运营生鲜杂货配送与自提服务。用户可通过官网及移动应用从合作商户订购食品杂货，在法律允许的地区还可选购酒类商品，所有订单由专属采购专员负责拣选、打包并配送上门。
ALHC vs CART — 直观对比
营收规模更大
ALHC
是对方的1.0倍
$992.0M
营收增速更快
ALHC
高出32.1%
12.3%
净利率更高
CART
高出9.3%
-1.1%
自由现金流更多
CART
多$226.4M
$-55.4M
两年增速更快
ALHC
近两年复合增速
10.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $992.0M |
| 净利润 | $-11.0M | $81.0M |
| 毛利率 | — | 72.3% |
| 营业利润率 | -1.0% | 9.9% |
| 净利率 | -1.1% | 8.2% |
| 营收同比 | 44.4% | 12.3% |
| 净利润同比 | 64.6% | -45.3% |
| 每股收益（稀释后） | $-0.04 | $0.31 |
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ALHCCART
| Q4 25 | $1.0B | $992.0M | ||
| Q3 25 | $993.7M | $939.0M | ||
| Q2 25 | $1.0B | $914.0M | ||
| Q1 25 | $926.9M | $897.0M | ||
| Q4 24 | $701.2M | $883.0M | ||
| Q3 24 | $692.4M | $852.0M | ||
| Q2 24 | $681.3M | $823.0M | ||
| Q1 24 | $628.6M | $820.0M |
净利润ALHCCART
| Q4 25 | $-11.0M | $81.0M | ||
| Q3 25 | $3.7M | $144.0M | ||
| Q2 25 | $15.7M | $116.0M | ||
| Q1 25 | $-9.1M | $106.0M | ||
| Q4 24 | $-31.1M | $148.0M | ||
| Q3 24 | $-26.4M | $118.0M | ||
| Q2 24 | $-24.0M | $61.0M | ||
| Q1 24 | $-46.5M | $130.0M |
毛利率ALHCCART
| Q4 25 | — | 72.3% | ||
| Q3 25 | — | 73.7% | ||
| Q2 25 | — | 74.2% | ||
| Q1 25 | — | 74.8% | ||
| Q4 24 | — | 75.2% | ||
| Q3 24 | — | 75.2% | ||
| Q2 24 | — | 75.7% | ||
| Q1 24 | — | 74.9% |
营业利润率ALHCCART
| Q4 25 | -1.0% | 9.9% | ||
| Q3 25 | 0.8% | 17.7% | ||
| Q2 25 | 2.2% | 13.6% | ||
| Q1 25 | -0.6% | 12.3% | ||
| Q4 24 | -3.2% | 17.6% | ||
| Q3 24 | -2.8% | 16.2% | ||
| Q2 24 | -2.7% | 6.3% | ||
| Q1 24 | -6.5% | 17.6% |
净利率ALHCCART
| Q4 25 | -1.1% | 8.2% | ||
| Q3 25 | 0.4% | 15.3% | ||
| Q2 25 | 1.5% | 12.7% | ||
| Q1 25 | -1.0% | 11.8% | ||
| Q4 24 | -4.4% | 16.8% | ||
| Q3 24 | -3.8% | 13.8% | ||
| Q2 24 | -3.5% | 7.4% | ||
| Q1 24 | -7.4% | 15.9% |
每股收益（稀释后）ALHCCART
| Q4 25 | $-0.04 | $0.31 | ||
| Q3 25 | $0.02 | $0.51 | ||
| Q2 25 | $0.07 | $0.41 | ||
| Q1 25 | $-0.05 | $0.37 | ||
| Q4 24 | $-0.15 | $0.53 | ||
| Q3 24 | $-0.14 | $0.42 | ||
| Q2 24 | $-0.13 | $0.20 | ||
| Q1 24 | $-0.25 | $0.43 |
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 | $687.0M |
| 总债务越低越好 | $323.2M | — |
| 股东权益账面价值 | $179.3M | $2.5B |
| 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ALHCCART
| Q4 25 | $604.2M | $687.0M | ||
| Q3 25 | $644.1M | $1.7B | ||
| Q2 25 | $503.8M | $1.6B | ||
| Q1 25 | $479.5M | $1.6B | ||
| Q4 24 | $470.6M | $1.4B | ||
| Q3 24 | $381.0M | $1.3B | ||
| Q2 24 | $363.7M | $1.4B | ||
| Q1 24 | $301.7M | $1.5B |
总债务ALHCCART
| 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 | — | ||
| Q1 24 | $162.0M | — |
股东权益ALHCCART
| Q4 25 | $179.3M | $2.5B | ||
| Q3 25 | $161.9M | $3.5B | ||
| Q2 25 | $141.0M | $3.3B | ||
| Q1 25 | $108.1M | $3.2B | ||
| Q4 24 | $99.9M | $3.1B | ||
| Q3 24 | $114.5M | $2.9B | ||
| Q2 24 | $123.7M | $3.0B | ||
| Q1 24 | $130.9M | $3.1B |
总资产ALHCCART
| Q4 25 | $1.1B | $3.7B | ||
| Q3 25 | $1.1B | $4.5B | ||
| Q2 25 | $1.0B | $4.4B | ||
| Q1 25 | $895.6M | $4.3B | ||
| Q4 24 | $782.1M | $4.1B | ||
| Q3 24 | $692.3M | $3.9B | ||
| Q2 24 | $716.3M | $4.0B | ||
| Q1 24 | $633.2M | $4.1B |
负债/权益比ALHCCART
| 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 | $183.0M |
| 自由现金流经营现金流 - 资本支出 | $-55.4M | $171.0M |
| 自由现金流率自由现金流/营收 | -5.5% | 17.2% |
| 资本支出强度资本支出/营收 | 0.5% | 1.2% |
| 现金转化率经营现金流/净利润 | — | 2.26× |
| 过去12个月自由现金流最近4个季度 | $113.1M | $910.0M |
8季度趋势，按日历期对齐
经营现金流ALHCCART
| Q4 25 | $-50.4M | $183.0M | ||
| Q3 25 | $144.6M | $287.0M | ||
| Q2 25 | $29.1M | $203.0M | ||
| Q1 25 | $16.6M | $298.0M | ||
| Q4 24 | $-8.7M | $153.0M | ||
| Q3 24 | $26.2M | $185.0M | ||
| Q2 24 | $23.5M | $244.0M | ||
| Q1 24 | $-6.2M | $105.0M |
自由现金流ALHCCART
| Q4 25 | $-55.4M | $171.0M | ||
| Q3 25 | $139.1M | $272.0M | ||
| Q2 25 | $21.1M | $187.0M | ||
| Q1 25 | $8.4M | $280.0M | ||
| Q4 24 | $-18.0M | $141.0M | ||
| Q3 24 | $16.9M | $171.0M | ||
| Q2 24 | $11.8M | $220.0M | ||
| Q1 24 | $-17.4M | $91.0M |
自由现金流率ALHCCART
| Q4 25 | -5.5% | 17.2% | ||
| Q3 25 | 14.0% | 29.0% | ||
| Q2 25 | 2.1% | 20.5% | ||
| Q1 25 | 0.9% | 31.2% | ||
| Q4 24 | -2.6% | 16.0% | ||
| Q3 24 | 2.4% | 20.1% | ||
| Q2 24 | 1.7% | 26.7% | ||
| Q1 24 | -2.8% | 11.1% |
资本支出强度ALHCCART
| Q4 25 | 0.5% | 1.2% | ||
| Q3 25 | 0.6% | 1.6% | ||
| Q2 25 | 0.8% | 1.8% | ||
| Q1 25 | 0.9% | 2.0% | ||
| Q4 24 | 1.3% | 1.4% | ||
| Q3 24 | 1.3% | 1.6% | ||
| Q2 24 | 1.7% | 2.9% | ||
| Q1 24 | 1.8% | 1.7% |
现金转化率ALHCCART
| Q4 25 | — | 2.26× | ||
| Q3 25 | 38.77× | 1.99× | ||
| Q2 25 | 1.86× | 1.75× | ||
| Q1 25 | — | 2.81× | ||
| Q4 24 | — | 1.03× | ||
| Q3 24 | — | 1.57× | ||
| Q2 24 | — | 4.00× | ||
| Q1 24 | — | 0.81× |
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
CART
| Transaction | $698.0M | 70% |
| Advertising And Other | $294.0M | 30% |
