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Alignment Healthcare, Inc.（ALHC）与Healthpeak Properties（DOC）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Healthpeak Properties的1.4倍（$1.0B vs $719.4M），Healthpeak Properties净利率更高（73.2% vs -1.1%，领先74.3%），Alignment Healthcare, Inc.同比增速更快（44.4% vs 3.1%），Healthpeak Properties自由现金流更多（$357.0M vs $-55.4M），过去两年Alignment Healthcare, Inc.的营收复合增速更高（26.9% vs 8.9%）
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。
Healthpeak Properties是美国医疗地产领域的房地产投资信托基金，核心投资范畴覆盖老年住宅、生命科学相关物业及医疗办公楼三类资产。公司2007年于马里兰州组建，总部设在科罗拉多州丹佛市，在尔湾、纳什维尔、旧金山均设有办事处，截至2019年12月31日共持有617处物业的权益。
ALHC vs DOC — 直观对比
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $719.4M |
| 净利润 | $-11.0M | $114.0M |
| 毛利率 | — | — |
| 营业利润率 | -1.0% | 17.4% |
| 净利率 | -1.1% | 73.2% |
| 营收同比 | 44.4% | 3.1% |
| 净利润同比 | 64.6% | 2406.4% |
| 每股收益（稀释后） | $-0.04 | $0.16 |
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
| Q4 25 | $1.0B | $719.4M | ||
| Q3 25 | $993.7M | $705.9M | ||
| Q2 25 | $1.0B | $694.3M | ||
| Q1 25 | $926.9M | $702.9M | ||
| Q4 24 | $701.2M | $698.0M | ||
| Q3 24 | $692.4M | $700.4M | ||
| Q2 24 | $681.3M | $695.5M | ||
| Q1 24 | $628.6M | $606.6M |
| Q4 25 | $-11.0M | $114.0M | ||
| Q3 25 | $3.7M | $-117.1M | ||
| Q2 25 | $15.7M | $31.7M | ||
| Q1 25 | $-9.1M | $42.8M | ||
| Q4 24 | $-31.1M | $4.5M | ||
| Q3 24 | $-26.4M | $85.9M | ||
| Q2 24 | $-24.0M | $146.0M | ||
| Q1 24 | $-46.5M | $6.7M |
| Q4 25 | — | — | ||
| Q3 25 | — | 58.6% | ||
| Q2 25 | — | 60.2% | ||
| Q1 25 | — | 61.1% | ||
| Q4 24 | — | 60.3% | ||
| Q3 24 | — | 60.0% | ||
| Q2 24 | — | 60.6% | ||
| Q1 24 | — | 59.8% |
| Q4 25 | -1.0% | 17.4% | ||
| Q3 25 | 0.8% | 9.2% | ||
| Q2 25 | 2.2% | 5.7% | ||
| Q1 25 | -0.6% | 7.7% | ||
| Q4 24 | -3.2% | -2.2% | ||
| Q3 24 | -2.8% | 14.1% | ||
| Q2 24 | -2.7% | 22.3% | ||
| Q1 24 | -6.5% | 3.7% |
| Q4 25 | -1.1% | 73.2% | ||
| Q3 25 | 0.4% | -16.6% | ||
| Q2 25 | 1.5% | 4.6% | ||
| Q1 25 | -1.0% | 6.1% | ||
| Q4 24 | -4.4% | 0.7% | ||
| Q3 24 | -3.8% | 12.3% | ||
| Q2 24 | -3.5% | 21.0% | ||
| Q1 24 | -7.4% | 1.1% |
| Q4 25 | $-0.04 | $0.16 | ||
| Q3 25 | $0.02 | $-0.17 | ||
| Q2 25 | $0.07 | $0.05 | ||
| Q1 25 | $-0.05 | $0.06 | ||
| Q4 24 | $-0.15 | $0.02 | ||
| Q3 24 | $-0.14 | $0.12 | ||
| Q2 24 | $-0.13 | $0.21 | ||
| Q1 24 | $-0.25 | $0.01 |
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 | $467.5M |
| 总债务越低越好 | $323.2M | $9.8B |
| 股东权益账面价值 | $179.3M | $7.5B |
| 总资产 | $1.1B | $20.3B |
| 负债/权益比越低杠杆越低 | 1.80× | 1.31× |
8季度趋势，按日历期对齐
| Q4 25 | $604.2M | $467.5M | ||
| Q3 25 | $644.1M | $91.0M | ||
| Q2 25 | $503.8M | $89.4M | ||
| Q1 25 | $479.5M | $70.6M | ||
| Q4 24 | $470.6M | $119.8M | ||
| Q3 24 | $381.0M | $180.4M | ||
| Q2 24 | $363.7M | $106.9M | ||
| Q1 24 | $301.7M | $101.8M |
| Q4 25 | $323.2M | $9.8B | ||
| Q3 25 | $322.7M | $9.1B | ||
| Q2 25 | $322.3M | $9.0B | ||
| Q1 25 | $321.9M | $8.9B | ||
| Q4 24 | $321.4M | $8.7B | ||
| Q3 24 | $212.0M | $8.6B | ||
| Q2 24 | $211.7M | $8.6B | ||
| Q1 24 | $162.0M | $8.8B |
| Q4 25 | $179.3M | $7.5B | ||
| Q3 25 | $161.9M | $7.6B | ||
| Q2 25 | $141.0M | $7.9B | ||
| Q1 25 | $108.1M | $8.2B | ||
| Q4 24 | $99.9M | $8.4B | ||
| Q3 24 | $114.5M | $8.6B | ||
| Q2 24 | $123.7M | $8.8B | ||
| Q1 24 | $130.9M | $8.9B |
| Q4 25 | $1.1B | $20.3B | ||
| Q3 25 | $1.1B | $19.6B | ||
| Q2 25 | $1.0B | $19.8B | ||
| Q1 25 | $895.6M | $19.8B | ||
| Q4 24 | $782.1M | $19.9B | ||
| Q3 24 | $692.3M | $20.0B | ||
| Q2 24 | $716.3M | $20.2B | ||
| Q1 24 | $633.2M | $20.5B |
| Q4 25 | 1.80× | 1.31× | ||
| Q3 25 | 1.99× | 1.20× | ||
| Q2 25 | 2.29× | 1.14× | ||
| Q1 25 | 2.98× | 1.08× | ||
| Q4 24 | 3.22× | 1.04× | ||
| Q3 24 | 1.85× | 1.00× | ||
| Q2 24 | 1.71× | 0.98× | ||
| Q1 24 | 1.24× | 0.99× |
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 | $1.3B |
| 自由现金流经营现金流 - 资本支出 | $-55.4M | $357.0M |
| 自由现金流率自由现金流/营收 | -5.5% | 49.6% |
| 资本支出强度资本支出/营收 | 0.5% | 124.4% |
| 现金转化率经营现金流/净利润 | — | 10.99× |
| 过去12个月自由现金流最近4个季度 | $113.1M | — |
8季度趋势，按日历期对齐
| Q4 25 | $-50.4M | $1.3B | ||
| Q3 25 | $144.6M | $315.0M | ||
| Q2 25 | $29.1M | $363.5M | ||
| Q1 25 | $16.6M | $279.4M | ||
| Q4 24 | $-8.7M | $1.1B | ||
| Q3 24 | $26.2M | $318.2M | ||
| Q2 24 | $23.5M | $316.2M | ||
| Q1 24 | $-6.2M | $152.6M |
| Q4 25 | $-55.4M | $357.0M | ||
| Q3 25 | $139.1M | — | ||
| Q2 25 | $21.1M | — | ||
| Q1 25 | $8.4M | — | ||
| Q4 24 | $-18.0M | $333.7M | ||
| Q3 24 | $16.9M | — | ||
| Q2 24 | $11.8M | — | ||
| Q1 24 | $-17.4M | — |
| Q4 25 | -5.5% | 49.6% | ||
| Q3 25 | 14.0% | — | ||
| Q2 25 | 2.1% | — | ||
| Q1 25 | 0.9% | — | ||
| Q4 24 | -2.6% | 47.8% | ||
| Q3 24 | 2.4% | — | ||
| Q2 24 | 1.7% | — | ||
| Q1 24 | -2.8% | — |
| Q4 25 | 0.5% | 124.4% | ||
| Q3 25 | 0.6% | — | ||
| Q2 25 | 0.8% | — | ||
| Q1 25 | 0.9% | — | ||
| Q4 24 | 1.3% | 105.6% | ||
| Q3 24 | 1.3% | — | ||
| Q2 24 | 1.7% | — | ||
| Q1 24 | 1.8% | — |
| Q4 25 | — | 10.99× | ||
| Q3 25 | 38.77× | — | ||
| Q2 25 | 1.86× | 11.48× | ||
| Q1 25 | — | 6.52× | ||
| Q4 24 | — | 235.43× | ||
| Q3 24 | — | 3.71× | ||
| Q2 24 | — | 2.17× | ||
| Q1 24 | — | 22.85× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
