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Alignment Healthcare, Inc.（ALHC）与因美纳（ILMN）财务数据对比。点击上方公司名可切换其他公司
因美纳的季度营收约是Alignment Healthcare, Inc.的1.1倍（$1.2B vs $1.0B），因美纳净利率更高（28.8% vs -1.1%，领先29.9%），Alignment Healthcare, Inc.同比增速更快（44.4% vs 5.0%），因美纳自由现金流更多（$267.0M vs $-55.4M），过去两年Alignment Healthcare, Inc.的营收复合增速更高（26.9% vs -0.7%）
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。
因美纳是总部位于美国加利福尼亚州圣迭戈的生物技术企业，成立于1998年4月，专注研发、生产及销售用于分析基因变异与生物功能的集成系统，产品及服务覆盖测序、基因分型、基因表达、蛋白质组学等领域，业务遍及全球超155个国家和地区。
ALHC vs ILMN — 直观对比
营收规模更大
ILMN
是对方的1.1倍
$1.0B
营收增速更快
ALHC
高出39.4%
5.0%
净利率更高
ILMN
高出29.9%
-1.1%
自由现金流更多
ILMN
多$322.4M
$-55.4M
两年增速更快
ALHC
近两年复合增速
-0.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $1.2B |
| 净利润 | $-11.0M | $334.0M |
| 毛利率 | — | 65.5% |
| 营业利润率 | -1.0% | 17.4% |
| 净利率 | -1.1% | 28.8% |
| 营收同比 | 44.4% | 5.0% |
| 净利润同比 | 64.6% | 185.5% |
| 每股收益（稀释后） | $-0.04 | $2.16 |
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
营收ALHCILMN
| Q4 25 | $1.0B | $1.2B | ||
| Q3 25 | $993.7M | — | ||
| Q2 25 | $1.0B | — | ||
| Q1 25 | $926.9M | — | ||
| Q4 24 | $701.2M | $1.1B | ||
| Q3 24 | $692.4M | $1.1B | ||
| Q2 24 | $681.3M | $1.1B | ||
| Q1 24 | $628.6M | $1.1B |
净利润ALHCILMN
| Q4 25 | $-11.0M | $334.0M | ||
| Q3 25 | $3.7M | — | ||
| Q2 25 | $15.7M | — | ||
| Q1 25 | $-9.1M | — | ||
| Q4 24 | $-31.1M | $186.0M | ||
| Q3 24 | $-26.4M | $705.0M | ||
| Q2 24 | $-24.0M | $-2.0B | ||
| Q1 24 | $-46.5M | $-126.0M |
毛利率ALHCILMN
| Q4 25 | — | 65.5% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 65.9% | ||
| Q3 24 | — | 69.0% | ||
| Q2 24 | — | 64.8% | ||
| Q1 24 | — | 62.0% |
营业利润率ALHCILMN
| Q4 25 | -1.0% | 17.4% | ||
| Q3 25 | 0.8% | — | ||
| Q2 25 | 2.2% | — | ||
| Q1 25 | -0.6% | — | ||
| Q4 24 | -3.2% | 15.8% | ||
| Q3 24 | -2.8% | 68.6% | ||
| Q2 24 | -2.7% | -147.2% | ||
| Q1 24 | -6.5% | -10.3% |
净利率ALHCILMN
| Q4 25 | -1.1% | 28.8% | ||
| Q3 25 | 0.4% | — | ||
| Q2 25 | 1.5% | — | ||
| Q1 25 | -1.0% | — | ||
| Q4 24 | -4.4% | 16.8% | ||
| Q3 24 | -3.8% | 65.3% | ||
| Q2 24 | -3.5% | -178.8% | ||
| Q1 24 | -7.4% | -11.7% |
每股收益（稀释后）ALHCILMN
| Q4 25 | $-0.04 | $2.16 | ||
| Q3 25 | $0.02 | — | ||
| Q2 25 | $0.07 | — | ||
| Q1 25 | $-0.05 | — | ||
| Q4 24 | $-0.15 | $1.16 | ||
| Q3 24 | $-0.14 | $4.42 | ||
| Q2 24 | $-0.13 | $-12.48 | ||
| 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 | $1.6B |
| 总债务越低越好 | $323.2M | — |
| 股东权益账面价值 | $179.3M | $2.7B |
| 总资产 | $1.1B | $6.6B |
| 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ALHCILMN
| Q4 25 | $604.2M | $1.6B | ||
| Q3 25 | $644.1M | — | ||
| Q2 25 | $503.8M | — | ||
| Q1 25 | $479.5M | — | ||
| Q4 24 | $470.6M | $93.0M | ||
| Q3 24 | $381.0M | $70.0M | ||
| Q2 24 | $363.7M | $74.0M | ||
| Q1 24 | $301.7M | — |
总债务ALHCILMN
| 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ALHCILMN
| Q4 25 | $179.3M | $2.7B | ||
| Q3 25 | $161.9M | — | ||
| Q2 25 | $141.0M | — | ||
| Q1 25 | $108.1M | — | ||
| Q4 24 | $99.9M | $2.4B | ||
| Q3 24 | $114.5M | $2.1B | ||
| Q2 24 | $123.7M | $1.4B | ||
| Q1 24 | $130.9M | $5.7B |
总资产ALHCILMN
| Q4 25 | $1.1B | $6.6B | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $1.0B | — | ||
| Q1 25 | $895.6M | — | ||
| Q4 24 | $782.1M | $6.3B | ||
| Q3 24 | $692.3M | $6.0B | ||
| Q2 24 | $716.3M | $6.1B | ||
| Q1 24 | $633.2M | $10.0B |
负债/权益比ALHCILMN
| 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 | $321.0M |
| 自由现金流经营现金流 - 资本支出 | $-55.4M | $267.0M |
| 自由现金流率自由现金流/营收 | -5.5% | 23.0% |
| 资本支出强度资本支出/营收 | 0.5% | — |
| 现金转化率经营现金流/净利润 | — | 0.96× |
| 过去12个月自由现金流最近4个季度 | $113.1M | $935.0M |
8季度趋势，按日历期对齐
经营现金流ALHCILMN
| Q4 25 | $-50.4M | $321.0M | ||
| Q3 25 | $144.6M | — | ||
| Q2 25 | $29.1M | — | ||
| Q1 25 | $16.6M | — | ||
| Q4 24 | $-8.7M | $364.0M | ||
| Q3 24 | $26.2M | $316.0M | ||
| Q2 24 | $23.5M | $80.0M | ||
| Q1 24 | $-6.2M | $77.0M |
自由现金流ALHCILMN
| Q4 25 | $-55.4M | $267.0M | ||
| Q3 25 | $139.1M | — | ||
| Q2 25 | $21.1M | — | ||
| Q1 25 | $8.4M | — | ||
| Q4 24 | $-18.0M | $335.0M | ||
| Q3 24 | $16.9M | $284.0M | ||
| Q2 24 | $11.8M | $49.0M | ||
| Q1 24 | $-17.4M | $41.0M |
自由现金流率ALHCILMN
| Q4 25 | -5.5% | 23.0% | ||
| Q3 25 | 14.0% | — | ||
| Q2 25 | 2.1% | — | ||
| Q1 25 | 0.9% | — | ||
| Q4 24 | -2.6% | 30.3% | ||
| Q3 24 | 2.4% | 26.3% | ||
| Q2 24 | 1.7% | 4.4% | ||
| Q1 24 | -2.8% | 3.8% |
资本支出强度ALHCILMN
| Q4 25 | 0.5% | — | ||
| Q3 25 | 0.6% | — | ||
| Q2 25 | 0.8% | — | ||
| Q1 25 | 0.9% | — | ||
| Q4 24 | 1.3% | 2.6% | ||
| Q3 24 | 1.3% | 3.0% | ||
| Q2 24 | 1.7% | 2.8% | ||
| Q1 24 | 1.8% | 3.3% |
现金转化率ALHCILMN
| Q4 25 | — | 0.96× | ||
| Q3 25 | 38.77× | — | ||
| Q2 25 | 1.86× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.96× | ||
| Q3 24 | — | 0.45× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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
ILMN
| Product revenue | $990.0M | 85% |
| Service and other revenue | $169.0M | 15% |
