vs
Alignment Healthcare, Inc.（ALHC）与DYCOM INDUSTRIES INC（DY）财务数据对比。点击上方公司名可切换其他公司
DYCOM INDUSTRIES INC的季度营收约是Alignment Healthcare, Inc.的1.4倍（$1.5B vs $1.0B），DYCOM INDUSTRIES INC净利率更高（7.3% vs -1.1%，领先8.4%），Alignment Healthcare, Inc.同比增速更快（44.4% vs 14.1%），DYCOM INDUSTRIES INC自由现金流更多（$164.8M vs $-55.4M），过去两年Alignment Healthcare, Inc.的营收复合增速更高（26.9% vs 23.5%）
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。
本公司是美国基础设施服务供应商，服务覆盖电力、管道、工业、通信四大领域，具备各类网络基础设施的规划、设计、安装、项目管理、运维及抢修能力。成立以来坚持内生增长，同时已收购150多家电力承包行业企业，为众多大型电力领域客户提供专业服务。
ALHC vs DY — 直观对比
营收规模更大
DY
是对方的1.4倍
$1.0B
营收增速更快
ALHC
高出30.3%
14.1%
净利率更高
DY
高出8.4%
-1.1%
自由现金流更多
DY
多$220.2M
$-55.4M
两年增速更快
ALHC
近两年复合增速
23.5%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $1.5B |
| 净利润 | $-11.0M | $106.4M |
| 毛利率 | — | — |
| 营业利润率 | -1.0% | 9.7% |
| 净利率 | -1.1% | 7.3% |
| 营收同比 | 44.4% | 14.1% |
| 净利润同比 | 64.6% | 52.4% |
| 每股收益（稀释后） | $-0.04 | $3.63 |
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ALHCDY
| Q4 25 | $1.0B | $1.5B | ||
| Q3 25 | $993.7M | $1.4B | ||
| Q2 25 | $1.0B | $1.3B | ||
| Q1 25 | $926.9M | $1.1B | ||
| Q4 24 | $701.2M | $1.3B | ||
| Q3 24 | $692.4M | $1.2B | ||
| Q2 24 | $681.3M | $1.1B | ||
| Q1 24 | $628.6M | $952.5M |
净利润ALHCDY
| Q4 25 | $-11.0M | $106.4M | ||
| Q3 25 | $3.7M | $97.5M | ||
| Q2 25 | $15.7M | $61.0M | ||
| Q1 25 | $-9.1M | $32.7M | ||
| Q4 24 | $-31.1M | $69.8M | ||
| Q3 24 | $-26.4M | $68.4M | ||
| Q2 24 | $-24.0M | $62.6M | ||
| Q1 24 | $-46.5M | $23.4M |
营业利润率ALHCDY
| Q4 25 | -1.0% | 9.7% | ||
| Q3 25 | 0.8% | 9.5% | ||
| Q2 25 | 2.2% | 6.2% | ||
| Q1 25 | -0.6% | 4.1% | ||
| Q4 24 | -3.2% | 7.2% | ||
| Q3 24 | -2.8% | 7.9% | ||
| Q2 24 | -2.7% | 6.8% | ||
| Q1 24 | -6.5% | 3.3% |
净利率ALHCDY
| Q4 25 | -1.1% | 7.3% | ||
| Q3 25 | 0.4% | 7.1% | ||
| Q2 25 | 1.5% | 4.9% | ||
| Q1 25 | -1.0% | 3.0% | ||
| Q4 24 | -4.4% | 5.5% | ||
| Q3 24 | -3.8% | 5.7% | ||
| Q2 24 | -3.5% | 5.5% | ||
| Q1 24 | -7.4% | 2.5% |
每股收益（稀释后）ALHCDY
| Q4 25 | $-0.04 | $3.63 | ||
| Q3 25 | $0.02 | $3.33 | ||
| Q2 25 | $0.07 | $2.09 | ||
| Q1 25 | $-0.05 | $1.11 | ||
| Q4 24 | $-0.15 | $2.37 | ||
| Q3 24 | $-0.14 | $2.32 | ||
| Q2 24 | $-0.13 | $2.12 | ||
| Q1 24 | $-0.25 | $0.79 |
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 | $110.1M |
| 总债务越低越好 | $323.2M | — |
| 股东权益账面价值 | $179.3M | $1.5B |
| 总资产 | $1.1B | $3.3B |
| 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ALHCDY
| Q4 25 | $604.2M | $110.1M | ||
| Q3 25 | $644.1M | $28.5M | ||
| Q2 25 | $503.8M | $16.1M | ||
| Q1 25 | $479.5M | $92.7M | ||
| Q4 24 | $470.6M | $15.3M | ||
| Q3 24 | $381.0M | $19.6M | ||
| Q2 24 | $363.7M | $26.1M | ||
| Q1 24 | $301.7M | $101.1M |
总债务ALHCDY
| 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ALHCDY
| Q4 25 | $179.3M | $1.5B | ||
| Q3 25 | $161.9M | $1.4B | ||
| Q2 25 | $141.0M | $1.3B | ||
| Q1 25 | $108.1M | $1.2B | ||
| Q4 24 | $99.9M | $1.2B | ||
| Q3 24 | $114.5M | $1.2B | ||
| Q2 24 | $123.7M | $1.1B | ||
| Q1 24 | $130.9M | $1.1B |
总资产ALHCDY
| Q4 25 | $1.1B | $3.3B | ||
| Q3 25 | $1.1B | $3.2B | ||
| Q2 25 | $1.0B | $3.1B | ||
| Q1 25 | $895.6M | $2.9B | ||
| Q4 24 | $782.1M | $3.1B | ||
| Q3 24 | $692.3M | $2.8B | ||
| Q2 24 | $716.3M | $2.6B | ||
| Q1 24 | $633.2M | $2.5B |
负债/权益比ALHCDY
| 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 | $220.0M |
| 自由现金流经营现金流 - 资本支出 | $-55.4M | $164.8M |
| 自由现金流率自由现金流/营收 | -5.5% | 11.4% |
| 资本支出强度资本支出/营收 | 0.5% | 3.8% |
| 现金转化率经营现金流/净利润 | — | 2.07× |
| 过去12个月自由现金流最近4个季度 | $113.1M | $296.8M |
8季度趋势，按日历期对齐
经营现金流ALHCDY
| Q4 25 | $-50.4M | $220.0M | ||
| Q3 25 | $144.6M | $57.4M | ||
| Q2 25 | $29.1M | $-54.0M | ||
| Q1 25 | $16.6M | $328.2M | ||
| Q4 24 | $-8.7M | $65.8M | ||
| Q3 24 | $26.2M | $-7.5M | ||
| Q2 24 | $23.5M | $-37.4M | ||
| Q1 24 | $-6.2M | $325.1M |
自由现金流ALHCDY
| Q4 25 | $-55.4M | $164.8M | ||
| Q3 25 | $139.1M | $5.8M | ||
| Q2 25 | $21.1M | $-133.5M | ||
| Q1 25 | $8.4M | $259.7M | ||
| Q4 24 | $-18.0M | $-8.8M | ||
| Q3 24 | $16.9M | $-72.9M | ||
| Q2 24 | $11.8M | $-79.4M | ||
| Q1 24 | $-17.4M | $267.7M |
自由现金流率ALHCDY
| Q4 25 | -5.5% | 11.4% | ||
| Q3 25 | 14.0% | 0.4% | ||
| Q2 25 | 2.1% | -10.6% | ||
| Q1 25 | 0.9% | 23.9% | ||
| Q4 24 | -2.6% | -0.7% | ||
| Q3 24 | 2.4% | -6.1% | ||
| Q2 24 | 1.7% | -6.9% | ||
| Q1 24 | -2.8% | 28.1% |
资本支出强度ALHCDY
| Q4 25 | 0.5% | 3.8% | ||
| Q3 25 | 0.6% | 3.8% | ||
| Q2 25 | 0.8% | 6.3% | ||
| Q1 25 | 0.9% | 6.3% | ||
| Q4 24 | 1.3% | 5.9% | ||
| Q3 24 | 1.3% | 5.4% | ||
| Q2 24 | 1.7% | 3.7% | ||
| Q1 24 | 1.8% | 6.0% |
现金转化率ALHCDY
| Q4 25 | — | 2.07× | ||
| Q3 25 | 38.77× | 0.59× | ||
| Q2 25 | 1.86× | -0.88× | ||
| Q1 25 | — | 10.05× | ||
| Q4 24 | — | 0.94× | ||
| Q3 24 | — | -0.11× | ||
| Q2 24 | — | -0.60× | ||
| Q1 24 | — | 13.88× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
