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Alignment Healthcare, Inc.（ALHC）与Masco（MAS）财务数据对比。点击上方公司名可切换其他公司
Masco的季度营收约是Alignment Healthcare, Inc.的1.9倍（$1.9B vs $1.0B），Masco净利率更高（11.9% vs -1.1%，领先13.0%），Alignment Healthcare, Inc.同比增速更快（44.4% vs 6.5%），过去两年Alignment Healthcare, Inc.的营收复合增速更高（26.9% vs -4.2%）
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。
美国家居建材企业Masco主营家装及新建住宅市场相关产品，旗下拥有20余家子公司，在全球运营近80座生产工厂，其中美国本土近60座，海外地区超20座。公司1969年于纽交所挂牌上市，后实现快速增长，成功跻身美国财富500强榜单。
ALHC vs MAS — 直观对比
营收规模更大
MAS
是对方的1.9倍
$1.0B
营收增速更快
ALHC
高出37.9%
6.5%
净利率更高
MAS
高出13.0%
-1.1%
两年增速更快
ALHC
近两年复合增速
-4.2%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $1.9B |
| 净利润 | $-11.0M | $228.0M |
| 毛利率 | — | 35.8% |
| 营业利润率 | -1.0% | 16.5% |
| 净利率 | -1.1% | 11.9% |
| 营收同比 | 44.4% | 6.5% |
| 净利润同比 | 64.6% | 14.5% |
| 每股收益（稀释后） | $-0.04 | — |
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ALHCMAS
| Q1 26 | — | $1.9B | ||
| Q4 25 | $1.0B | $1.8B | ||
| Q3 25 | $993.7M | $1.9B | ||
| Q2 25 | $1.0B | $2.1B | ||
| Q1 25 | $926.9M | $1.8B | ||
| Q4 24 | $701.2M | $1.8B | ||
| Q3 24 | $692.4M | $2.0B | ||
| Q2 24 | $681.3M | $2.1B |
净利润ALHCMAS
| Q1 26 | — | $228.0M | ||
| Q4 25 | $-11.0M | $165.0M | ||
| Q3 25 | $3.7M | $189.0M | ||
| Q2 25 | $15.7M | $270.0M | ||
| Q1 25 | $-9.1M | $186.0M | ||
| Q4 24 | $-31.1M | $182.0M | ||
| Q3 24 | $-26.4M | $167.0M | ||
| Q2 24 | $-24.0M | $258.0M |
毛利率ALHCMAS
| Q1 26 | — | 35.8% | ||
| Q4 25 | — | 33.9% | ||
| Q3 25 | — | 34.2% | ||
| Q2 25 | — | 37.6% | ||
| Q1 25 | — | 35.8% | ||
| Q4 24 | — | 34.8% | ||
| Q3 24 | — | 36.6% | ||
| Q2 24 | — | 37.5% |
营业利润率ALHCMAS
| Q1 26 | — | 16.5% | ||
| Q4 25 | -1.0% | 13.8% | ||
| Q3 25 | 0.8% | 15.8% | ||
| Q2 25 | 2.2% | 20.1% | ||
| Q1 25 | -0.6% | 15.9% | ||
| Q4 24 | -3.2% | 15.9% | ||
| Q3 24 | -2.8% | 18.0% | ||
| Q2 24 | -2.7% | 19.0% |
净利率ALHCMAS
| Q1 26 | — | 11.9% | ||
| Q4 25 | -1.1% | 9.2% | ||
| Q3 25 | 0.4% | 9.9% | ||
| Q2 25 | 1.5% | 13.2% | ||
| Q1 25 | -1.0% | 10.3% | ||
| Q4 24 | -4.4% | 10.0% | ||
| Q3 24 | -3.8% | 8.4% | ||
| Q2 24 | -3.5% | 12.3% |
每股收益（稀释后）ALHCMAS
| Q1 26 | — | — | ||
| Q4 25 | $-0.04 | $0.81 | ||
| Q3 25 | $0.02 | $0.90 | ||
| Q2 25 | $0.07 | $1.28 | ||
| Q1 25 | $-0.05 | $0.87 | ||
| Q4 24 | $-0.15 | $0.85 | ||
| Q3 24 | $-0.14 | $0.77 | ||
| Q2 24 | $-0.13 | $1.17 |
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 | — |
| 总债务越低越好 | $323.2M | $2.9B |
| 股东权益账面价值 | $179.3M | $27.0M |
| 总资产 | $1.1B | $5.2B |
| 负债/权益比越低杠杆越低 | 1.80× | 109.07× |
8季度趋势，按日历期对齐
现金及短期投资ALHCMAS
| Q1 26 | — | — | ||
| Q4 25 | $604.2M | $647.0M | ||
| Q3 25 | $644.1M | $559.0M | ||
| Q2 25 | $503.8M | $390.0M | ||
| Q1 25 | $479.5M | $377.0M | ||
| Q4 24 | $470.6M | $634.0M | ||
| Q3 24 | $381.0M | $646.0M | ||
| Q2 24 | $363.7M | $398.0M |
总债务ALHCMAS
| Q1 26 | — | $2.9B | ||
| Q4 25 | $323.2M | $2.9B | ||
| Q3 25 | $322.7M | — | ||
| Q2 25 | $322.3M | — | ||
| Q1 25 | $321.9M | — | ||
| Q4 24 | $321.4M | $2.9B | ||
| Q3 24 | $212.0M | — | ||
| Q2 24 | $211.7M | — |
股东权益ALHCMAS
| Q1 26 | — | $27.0M | ||
| Q4 25 | $179.3M | $-185.0M | ||
| Q3 25 | $161.9M | $-78.0M | ||
| Q2 25 | $141.0M | $-84.0M | ||
| Q1 25 | $108.1M | $-254.0M | ||
| Q4 24 | $99.9M | $-279.0M | ||
| Q3 24 | $114.5M | $-88.0M | ||
| Q2 24 | $123.7M | $-26.0M |
总资产ALHCMAS
| Q1 26 | — | $5.2B | ||
| Q4 25 | $1.1B | $5.2B | ||
| Q3 25 | $1.1B | $5.3B | ||
| Q2 25 | $1.0B | $5.3B | ||
| Q1 25 | $895.6M | $5.1B | ||
| Q4 24 | $782.1M | $5.0B | ||
| Q3 24 | $692.3M | $5.3B | ||
| Q2 24 | $716.3M | $5.4B |
负债/权益比ALHCMAS
| Q1 26 | — | 109.07× | ||
| 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× | — |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $-55.4M | — |
| 自由现金流率自由现金流/营收 | -5.5% | — |
| 资本支出强度资本支出/营收 | 0.5% | 1.8% |
| 现金转化率经营现金流/净利润 | — | — |
| 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
经营现金流ALHCMAS
| Q1 26 | — | — | ||
| Q4 25 | $-50.4M | $418.0M | ||
| Q3 25 | $144.6M | $456.0M | ||
| Q2 25 | $29.1M | $306.0M | ||
| Q1 25 | $16.6M | $-158.0M | ||
| Q4 24 | $-8.7M | $407.0M | ||
| Q3 24 | $26.2M | $416.0M | ||
| Q2 24 | $23.5M | $346.0M |
自由现金流ALHCMAS
| Q1 26 | — | — | ||
| Q4 25 | $-55.4M | $371.0M | ||
| Q3 25 | $139.1M | $415.0M | ||
| Q2 25 | $21.1M | $270.0M | ||
| Q1 25 | $8.4M | $-190.0M | ||
| Q4 24 | $-18.0M | $351.0M | ||
| Q3 24 | $16.9M | $378.0M | ||
| Q2 24 | $11.8M | $303.0M |
自由现金流率ALHCMAS
| Q1 26 | — | — | ||
| Q4 25 | -5.5% | 20.7% | ||
| Q3 25 | 14.0% | 21.6% | ||
| Q2 25 | 2.1% | 13.2% | ||
| Q1 25 | 0.9% | -10.5% | ||
| Q4 24 | -2.6% | 19.2% | ||
| Q3 24 | 2.4% | 19.1% | ||
| Q2 24 | 1.7% | 14.5% |
资本支出强度ALHCMAS
| Q1 26 | — | 1.8% | ||
| Q4 25 | 0.5% | 2.6% | ||
| Q3 25 | 0.6% | 2.1% | ||
| Q2 25 | 0.8% | 1.8% | ||
| Q1 25 | 0.9% | 1.8% | ||
| Q4 24 | 1.3% | 3.1% | ||
| Q3 24 | 1.3% | 1.9% | ||
| Q2 24 | 1.7% | 2.1% |
现金转化率ALHCMAS
| Q1 26 | — | — | ||
| Q4 25 | — | 2.53× | ||
| Q3 25 | 38.77× | 2.41× | ||
| Q2 25 | 1.86× | 1.13× | ||
| Q1 25 | — | -0.85× | ||
| Q4 24 | — | 2.24× | ||
| Q3 24 | — | 2.49× | ||
| Q2 24 | — | 1.34× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
