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Alignment Healthcare, Inc.（ALHC）与美泰（MAT）财务数据对比。点击上方公司名可切换其他公司
Alignment Healthcare, Inc.的季度营收约是美泰的1.4倍（$1.2B vs $862.2M），美泰净利率更高（7.1% vs 0.9%，领先6.2%），美泰同比增速更快（4.3% vs -74.7%），过去两年Alignment Healthcare, Inc.的营收复合增速更高（34.6% vs -10.6%）
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。
美泰是美国知名玩具及娱乐企业，旗下影视制作部门美泰影业运营时间为2018年9月6日至2025年6月2日。其前身为2013年10月16日成立的美泰Playground Productions，更早可追溯至美泰娱乐、美泰工作室等集团原有娱乐业务品牌。
ALHC vs MAT — 直观对比
营收规模更大
ALHC
是对方的1.4倍
$862.2M
营收增速更快
MAT
高出79.0%
-74.7%
净利率更高
MAT
高出6.2%
0.9%
两年增速更快
ALHC
近两年复合增速
-10.6%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $862.2M |
| 净利润 | $11.4M | $61.0M |
| 毛利率 | — | 44.9% |
| 营业利润率 | — | — |
| 净利率 | 0.9% | 7.1% |
| 营收同比 | -74.7% | 4.3% |
| 净利润同比 | — | 251.4% |
| 每股收益（稀释后） | — | $0.20 |
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ALHCMAT
| Q1 26 | $1.2B | $862.2M | ||
| Q4 25 | $1.0B | $1.8B | ||
| Q3 25 | $993.7M | $1.7B | ||
| Q2 25 | $1.0B | $1.0B | ||
| Q1 25 | $926.9M | $826.6M | ||
| Q4 24 | $701.2M | $1.6B | ||
| Q3 24 | $692.4M | $1.8B | ||
| Q2 24 | $681.3M | $1.1B |
净利润ALHCMAT
| Q1 26 | $11.4M | $61.0M | ||
| Q4 25 | $-11.0M | $106.2M | ||
| Q3 25 | $3.7M | $278.4M | ||
| Q2 25 | $15.7M | $53.4M | ||
| Q1 25 | $-9.1M | $-40.3M | ||
| Q4 24 | $-31.1M | $140.9M | ||
| Q3 24 | $-26.4M | $372.4M | ||
| Q2 24 | $-24.0M | $56.9M |
毛利率ALHCMAT
| Q1 26 | — | 44.9% | ||
| Q4 25 | — | 45.9% | ||
| Q3 25 | — | 50.0% | ||
| Q2 25 | — | 50.9% | ||
| Q1 25 | — | 49.4% | ||
| Q4 24 | — | 50.7% | ||
| Q3 24 | — | 53.1% | ||
| Q2 24 | — | 49.2% |
营业利润率ALHCMAT
| Q1 26 | — | — | ||
| Q4 25 | -1.0% | 8.0% | ||
| Q3 25 | 0.8% | 21.9% | ||
| Q2 25 | 2.2% | 7.7% | ||
| Q1 25 | -0.6% | -6.4% | ||
| Q4 24 | -3.2% | 9.6% | ||
| Q3 24 | -2.8% | 26.5% | ||
| Q2 24 | -2.7% | 7.7% |
净利率ALHCMAT
| Q1 26 | 0.9% | 7.1% | ||
| Q4 25 | -1.1% | 6.0% | ||
| Q3 25 | 0.4% | 16.0% | ||
| Q2 25 | 1.5% | 5.2% | ||
| Q1 25 | -1.0% | -4.9% | ||
| Q4 24 | -4.4% | 8.6% | ||
| Q3 24 | -3.8% | 20.2% | ||
| Q2 24 | -3.5% | 5.3% |
每股收益（稀释后）ALHCMAT
| Q1 26 | — | $0.20 | ||
| Q4 25 | $-0.04 | $0.32 | ||
| Q3 25 | $0.02 | $0.88 | ||
| Q2 25 | $0.07 | $0.16 | ||
| Q1 25 | $-0.05 | $-0.12 | ||
| Q4 24 | $-0.15 | $0.40 | ||
| Q3 24 | $-0.14 | $1.09 | ||
| Q2 24 | $-0.13 | $0.17 |
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 | $705.6M | $866.0M |
| 总债务越低越好 | — | $2.3B |
| 股东权益账面价值 | $206.9M | $2.1B |
| 总资产 | $1.3B | $6.3B |
| 负债/权益比越低杠杆越低 | — | 1.11× |
8季度趋势，按日历期对齐
现金及短期投资ALHCMAT
| Q1 26 | $705.6M | $866.0M | ||
| Q4 25 | $604.2M | $1.2B | ||
| Q3 25 | $644.1M | $691.9M | ||
| Q2 25 | $503.8M | $870.5M | ||
| Q1 25 | $479.5M | $1.2B | ||
| Q4 24 | $470.6M | $1.4B | ||
| Q3 24 | $381.0M | $723.5M | ||
| Q2 24 | $363.7M | $722.4M |
总债务ALHCMAT
| Q1 26 | — | $2.3B | ||
| Q4 25 | $323.2M | $2.3B | ||
| Q3 25 | $322.7M | $2.3B | ||
| Q2 25 | $322.3M | $2.3B | ||
| Q1 25 | $321.9M | $2.3B | ||
| Q4 24 | $321.4M | $2.3B | ||
| Q3 24 | $212.0M | $2.3B | ||
| Q2 24 | $211.7M | $2.3B |
股东权益ALHCMAT
| Q1 26 | $206.9M | $2.1B | ||
| Q4 25 | $179.3M | $2.2B | ||
| Q3 25 | $161.9M | $2.3B | ||
| Q2 25 | $141.0M | $2.2B | ||
| Q1 25 | $108.1M | $2.1B | ||
| Q4 24 | $99.9M | $2.3B | ||
| Q3 24 | $114.5M | $2.3B | ||
| Q2 24 | $123.7M | $2.0B |
总资产ALHCMAT
| Q1 26 | $1.3B | $6.3B | ||
| Q4 25 | $1.1B | $6.6B | ||
| Q3 25 | $1.1B | $6.6B | ||
| Q2 25 | $1.0B | $6.2B | ||
| Q1 25 | $895.6M | $6.2B | ||
| Q4 24 | $782.1M | $6.5B | ||
| Q3 24 | $692.3M | $6.5B | ||
| Q2 24 | $716.3M | $5.9B |
负债/权益比ALHCMAT
| Q1 26 | — | 1.11× | ||
| Q4 25 | 1.80× | 1.04× | ||
| Q3 25 | 1.99× | 1.03× | ||
| Q2 25 | 2.29× | 1.08× | ||
| Q1 25 | 2.98× | 1.10× | ||
| Q4 24 | 3.22× | 1.03× | ||
| Q3 24 | 1.85× | 1.01× | ||
| Q2 24 | 1.71× | 1.18× |
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 | $128.7M | — |
| 自由现金流经营现金流 - 资本支出 | — | $-88.1M |
| 自由现金流率自由现金流/营收 | — | -10.2% |
| 资本支出强度资本支出/营收 | — | 7.6% |
| 现金转化率经营现金流/净利润 | 11.27× | — |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流ALHCMAT
| Q1 26 | $128.7M | — | ||
| Q4 25 | $-50.4M | $796.6M | ||
| Q3 25 | $144.6M | $72.0M | ||
| Q2 25 | $29.1M | $-300.1M | ||
| Q1 25 | $16.6M | $24.8M | ||
| Q4 24 | $-8.7M | $862.1M | ||
| Q3 24 | $26.2M | $155.8M | ||
| Q2 24 | $23.5M | $-252.9M |
自由现金流ALHCMAT
| Q1 26 | — | $-88.1M | ||
| Q4 25 | $-55.4M | — | ||
| Q3 25 | $139.1M | — | ||
| Q2 25 | $21.1M | — | ||
| Q1 25 | $8.4M | — | ||
| Q4 24 | $-18.0M | — | ||
| Q3 24 | $16.9M | — | ||
| Q2 24 | $11.8M | — |
自由现金流率ALHCMAT
| Q1 26 | — | -10.2% | ||
| Q4 25 | -5.5% | — | ||
| Q3 25 | 14.0% | — | ||
| Q2 25 | 2.1% | — | ||
| Q1 25 | 0.9% | — | ||
| Q4 24 | -2.6% | — | ||
| Q3 24 | 2.4% | — | ||
| Q2 24 | 1.7% | — |
资本支出强度ALHCMAT
| Q1 26 | — | 7.6% | ||
| Q4 25 | 0.5% | — | ||
| Q3 25 | 0.6% | — | ||
| Q2 25 | 0.8% | — | ||
| Q1 25 | 0.9% | — | ||
| Q4 24 | 1.3% | — | ||
| Q3 24 | 1.3% | — | ||
| Q2 24 | 1.7% | — |
现金转化率ALHCMAT
| Q1 26 | 11.27× | — | ||
| Q4 25 | — | 7.50× | ||
| Q3 25 | 38.77× | 0.26× | ||
| Q2 25 | 1.86× | -5.62× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 6.12× | ||
| Q3 24 | — | 0.42× | ||
| Q2 24 | — | -4.45× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
