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Alignment Healthcare, Inc.（ALHC）与Encompass Health Corp（EHC）财务数据对比。点击上方公司名可切换其他公司
Encompass Health Corp的季度营收约是Alignment Healthcare, Inc.的1.5倍（$1.5B vs $1.0B），Encompass Health Corp净利率更高（9.5% vs -1.1%，领先10.5%），Alignment Healthcare, Inc.同比增速更快（44.4% vs 9.9%），Encompass Health Corp自由现金流更多（$116.7M vs $-55.4M），过去两年Alignment Healthcare, Inc.的营收复合增速更高（26.9% vs 8.3%）
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。
Encompass Health Corp前身为Amcare及HealthSouth，总部位于美国阿拉巴马州伯明翰，是美国规模最大的住院康复服务提供商，在39个州及波多黎各拥有173家住院康复医院，为中风、神经系统疾病、心肺病症、脑损伤等患者提供专业康复诊疗服务。
ALHC vs EHC — 直观对比
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $1.5B |
| 净利润 | $-11.0M | $146.1M |
| 毛利率 | — | — |
| 营业利润率 | -1.0% | 16.7% |
| 净利率 | -1.1% | 9.5% |
| 营收同比 | 44.4% | 9.9% |
| 净利润同比 | 64.6% | 20.8% |
| 每股收益（稀释后） | $-0.04 | $1.43 |
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 | $1.5B | ||
| Q3 25 | $993.7M | $1.5B | ||
| Q2 25 | $1.0B | $1.5B | ||
| Q1 25 | $926.9M | $1.5B | ||
| Q4 24 | $701.2M | $1.4B | ||
| Q3 24 | $692.4M | $1.4B | ||
| Q2 24 | $681.3M | $1.3B | ||
| Q1 24 | $628.6M | $1.3B |
| Q4 25 | $-11.0M | $146.1M | ||
| Q3 25 | $3.7M | $126.5M | ||
| Q2 25 | $15.7M | $142.1M | ||
| Q1 25 | $-9.1M | $151.5M | ||
| Q4 24 | $-31.1M | $120.9M | ||
| Q3 24 | $-26.4M | $108.2M | ||
| Q2 24 | $-24.0M | $114.1M | ||
| Q1 24 | $-46.5M | $112.5M |
| Q4 25 | -1.0% | 16.7% | ||
| Q3 25 | 0.8% | 14.9% | ||
| Q2 25 | 2.2% | 16.2% | ||
| Q1 25 | -0.6% | 16.4% | ||
| Q4 24 | -3.2% | 14.3% | ||
| Q3 24 | -2.8% | 13.6% | ||
| Q2 24 | -2.7% | 14.3% | ||
| Q1 24 | -6.5% | 13.6% |
| Q4 25 | -1.1% | 9.5% | ||
| Q3 25 | 0.4% | 8.6% | ||
| Q2 25 | 1.5% | 9.7% | ||
| Q1 25 | -1.0% | 10.4% | ||
| Q4 24 | -4.4% | 8.6% | ||
| Q3 24 | -3.8% | 8.0% | ||
| Q2 24 | -3.5% | 8.8% | ||
| Q1 24 | -7.4% | 8.5% |
| Q4 25 | $-0.04 | $1.43 | ||
| Q3 25 | $0.02 | $1.24 | ||
| Q2 25 | $0.07 | $1.39 | ||
| Q1 25 | $-0.05 | $1.48 | ||
| Q4 24 | $-0.15 | $1.18 | ||
| Q3 24 | $-0.14 | $1.06 | ||
| Q2 24 | $-0.13 | $1.12 | ||
| Q1 24 | $-0.25 | $1.10 |
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 | $72.2M |
| 总债务越低越好 | $323.2M | $2.4B |
| 股东权益账面价值 | $179.3M | $2.4B |
| 总资产 | $1.1B | $7.1B |
| 负债/权益比越低杠杆越低 | 1.80× | 1.00× |
8季度趋势，按日历期对齐
| Q4 25 | $604.2M | $72.2M | ||
| Q3 25 | $644.1M | $48.7M | ||
| Q2 25 | $503.8M | $99.1M | ||
| Q1 25 | $479.5M | $95.8M | ||
| Q4 24 | $470.6M | $85.4M | ||
| Q3 24 | $381.0M | $147.8M | ||
| Q2 24 | $363.7M | $154.4M | ||
| Q1 24 | $301.7M | $134.4M |
| Q4 25 | $323.2M | $2.4B | ||
| Q3 25 | $322.7M | $2.4B | ||
| Q2 25 | $322.3M | $2.3B | ||
| Q1 25 | $321.9M | $2.3B | ||
| Q4 24 | $321.4M | $2.4B | ||
| Q3 24 | $212.0M | $2.3B | ||
| Q2 24 | $211.7M | $2.7B | ||
| Q1 24 | $162.0M | $2.7B |
| Q4 25 | $179.3M | $2.4B | ||
| Q3 25 | $161.9M | $2.4B | ||
| Q2 25 | $141.0M | $2.3B | ||
| Q1 25 | $108.1M | $2.2B | ||
| Q4 24 | $99.9M | $2.1B | ||
| Q3 24 | $114.5M | $2.0B | ||
| Q2 24 | $123.7M | $1.8B | ||
| Q1 24 | $130.9M | $1.7B |
| Q4 25 | $1.1B | $7.1B | ||
| Q3 25 | $1.1B | $6.9B | ||
| Q2 25 | $1.0B | $6.8B | ||
| Q1 25 | $895.6M | $6.6B | ||
| Q4 24 | $782.1M | $6.5B | ||
| Q3 24 | $692.3M | $6.5B | ||
| Q2 24 | $716.3M | $6.4B | ||
| Q1 24 | $633.2M | $6.2B |
| Q4 25 | 1.80× | 1.00× | ||
| Q3 25 | 1.99× | 1.01× | ||
| Q2 25 | 2.29× | 1.02× | ||
| Q1 25 | 2.98× | 1.08× | ||
| Q4 24 | 3.22× | 1.14× | ||
| Q3 24 | 1.85× | 1.20× | ||
| Q2 24 | 1.71× | 1.46× | ||
| Q1 24 | 1.24× | 1.54× |
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 | $346.0M |
| 自由现金流经营现金流 - 资本支出 | $-55.4M | $116.7M |
| 自由现金流率自由现金流/营收 | -5.5% | 7.6% |
| 资本支出强度资本支出/营收 | 0.5% | 14.8% |
| 现金转化率经营现金流/净利润 | — | 2.37× |
| 过去12个月自由现金流最近4个季度 | $113.1M | $439.2M |
8季度趋势，按日历期对齐
| Q4 25 | $-50.4M | $346.0M | ||
| Q3 25 | $144.6M | $270.8M | ||
| Q2 25 | $29.1M | $270.2M | ||
| Q1 25 | $16.6M | $288.6M | ||
| Q4 24 | $-8.7M | $278.8M | ||
| Q3 24 | $26.2M | $267.8M | ||
| Q2 24 | $23.5M | $217.4M | ||
| Q1 24 | $-6.2M | $238.8M |
| Q4 25 | $-55.4M | $116.7M | ||
| Q3 25 | $139.1M | $83.7M | ||
| Q2 25 | $21.1M | $113.3M | ||
| Q1 25 | $8.4M | $125.5M | ||
| Q4 24 | $-18.0M | $80.1M | ||
| Q3 24 | $16.9M | $120.3M | ||
| Q2 24 | $11.8M | $60.5M | ||
| Q1 24 | $-17.4M | $99.4M |
| Q4 25 | -5.5% | 7.6% | ||
| Q3 25 | 14.0% | 5.7% | ||
| Q2 25 | 2.1% | 7.8% | ||
| Q1 25 | 0.9% | 8.6% | ||
| Q4 24 | -2.6% | 5.7% | ||
| Q3 24 | 2.4% | 8.9% | ||
| Q2 24 | 1.7% | 4.6% | ||
| Q1 24 | -2.8% | 7.6% |
| Q4 25 | 0.5% | 14.8% | ||
| Q3 25 | 0.6% | 12.7% | ||
| Q2 25 | 0.8% | 10.8% | ||
| Q1 25 | 0.9% | 11.2% | ||
| Q4 24 | 1.3% | 14.1% | ||
| Q3 24 | 1.3% | 10.9% | ||
| Q2 24 | 1.7% | 12.1% | ||
| Q1 24 | 1.8% | 10.6% |
| Q4 25 | — | 2.37× | ||
| Q3 25 | 38.77× | 2.14× | ||
| Q2 25 | 1.86× | 1.90× | ||
| Q1 25 | — | 1.90× | ||
| Q4 24 | — | 2.31× | ||
| Q3 24 | — | 2.48× | ||
| Q2 24 | — | 1.91× | ||
| Q1 24 | — | 2.12× |
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
EHC
| Medicare | $1.0B | 66% |
| Medicare Advantage | $243.1M | 16% |
| Managed Care | $160.7M | 10% |
| Medicaid | $47.0M | 3% |
| Other Income Source | $44.8M | 3% |
| Other Thirdparty Payors | $11.2M | 1% |
| Workers Compensation | $7.6M | 0% |
| Patients | $4.6M | 0% |
