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Alignment Healthcare, Inc.（ALHC）与OPEN TEXT CORP（OTEX）财务数据对比。点击上方公司名可切换其他公司
OPEN TEXT CORP的季度营收约是Alignment Healthcare, Inc.的1.3倍（$1.3B vs $1.0B），OPEN TEXT CORP净利率更高（12.7% vs -1.1%，领先13.8%），Alignment Healthcare, Inc.同比增速更快（44.4% vs -0.6%），OPEN TEXT CORP自由现金流更多（$279.4M vs $-55.4M），过去两年Alignment Healthcare, Inc.的营收复合增速更高（26.9% vs -4.3%）
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。
Open Text Corporation是全球知名的跨国软件企业，专注于信息管理类软件的研发与销售，业务覆盖全球众多国家和地区，可为各行业客户提供成熟的信息管理解决方案，助力企业高效管理数据资产，推进数字化转型落地。
ALHC vs OTEX — 直观对比
营收规模更大
OTEX
是对方的1.3倍
$1.0B
营收增速更快
ALHC
高出45.0%
-0.6%
净利率更高
OTEX
高出13.8%
-1.1%
自由现金流更多
OTEX
多$334.8M
$-55.4M
两年增速更快
ALHC
近两年复合增速
-4.3%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $1.3B |
| 净利润 | $-11.0M | $168.1M |
| 毛利率 | — | 74.0% |
| 营业利润率 | -1.0% | 22.0% |
| 净利率 | -1.1% | 12.7% |
| 营收同比 | 44.4% | -0.6% |
| 净利润同比 | 64.6% | -26.9% |
| 每股收益（稀释后） | $-0.04 | $0.66 |
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ALHCOTEX
| Q4 25 | $1.0B | $1.3B | ||
| Q3 25 | $993.7M | $1.3B | ||
| Q2 25 | $1.0B | $1.3B | ||
| Q1 25 | $926.9M | $1.3B | ||
| Q4 24 | $701.2M | $1.3B | ||
| Q3 24 | $692.4M | $1.3B | ||
| Q2 24 | $681.3M | $1.4B | ||
| Q1 24 | $628.6M | $1.4B |
净利润ALHCOTEX
| Q4 25 | $-11.0M | $168.1M | ||
| Q3 25 | $3.7M | $146.6M | ||
| Q2 25 | $15.7M | $28.8M | ||
| Q1 25 | $-9.1M | $92.8M | ||
| Q4 24 | $-31.1M | $229.9M | ||
| Q3 24 | $-26.4M | $84.4M | ||
| Q2 24 | $-24.0M | $248.2M | ||
| Q1 24 | $-46.5M | $98.3M |
毛利率ALHCOTEX
| Q4 25 | — | 74.0% | ||
| Q3 25 | — | 72.8% | ||
| Q2 25 | — | 72.3% | ||
| Q1 25 | — | 71.6% | ||
| Q4 24 | — | 73.3% | ||
| Q3 24 | — | 71.7% | ||
| Q2 24 | — | 72.5% | ||
| Q1 24 | — | 73.0% |
营业利润率ALHCOTEX
| Q4 25 | -1.0% | 22.0% | ||
| Q3 25 | 0.8% | 21.0% | ||
| Q2 25 | 2.2% | 13.9% | ||
| Q1 25 | -0.6% | 16.7% | ||
| Q4 24 | -3.2% | 22.2% | ||
| Q3 24 | -2.8% | 16.3% | ||
| Q2 24 | -2.7% | 14.2% | ||
| Q1 24 | -6.5% | 15.7% |
净利率ALHCOTEX
| Q4 25 | -1.1% | 12.7% | ||
| Q3 25 | 0.4% | 11.4% | ||
| Q2 25 | 1.5% | 2.2% | ||
| Q1 25 | -1.0% | 7.4% | ||
| Q4 24 | -4.4% | 17.2% | ||
| Q3 24 | -3.8% | 6.6% | ||
| Q2 24 | -3.5% | 18.2% | ||
| Q1 24 | -7.4% | 6.8% |
每股收益（稀释后）ALHCOTEX
| Q4 25 | $-0.04 | $0.66 | ||
| Q3 25 | $0.02 | $0.58 | ||
| Q2 25 | $0.07 | $0.11 | ||
| Q1 25 | $-0.05 | $0.35 | ||
| Q4 24 | $-0.15 | $0.87 | ||
| Q3 24 | $-0.14 | $0.32 | ||
| Q2 24 | $-0.13 | $0.91 | ||
| Q1 24 | $-0.25 | $0.36 |
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 | $1.3B |
| 总债务越低越好 | $323.2M | $6.4B |
| 股东权益账面价值 | $179.3M | $4.0B |
| 总资产 | $1.1B | $13.6B |
| 负债/权益比越低杠杆越低 | 1.80× | 1.58× |
8季度趋势，按日历期对齐
现金及短期投资ALHCOTEX
| Q4 25 | $604.2M | $1.3B | ||
| Q3 25 | $644.1M | $1.1B | ||
| Q2 25 | $503.8M | $1.2B | ||
| Q1 25 | $479.5M | $1.3B | ||
| Q4 24 | $470.6M | $1.1B | ||
| Q3 24 | $381.0M | $1.0B | ||
| Q2 24 | $363.7M | $1.3B | ||
| Q1 24 | $301.7M | $1.1B |
总债务ALHCOTEX
| Q4 25 | $323.2M | $6.4B | ||
| Q3 25 | $322.7M | $6.4B | ||
| Q2 25 | $322.3M | $6.4B | ||
| Q1 25 | $321.9M | $6.4B | ||
| Q4 24 | $321.4M | $6.4B | ||
| Q3 24 | $212.0M | $6.4B | ||
| Q2 24 | $211.7M | $6.4B | ||
| Q1 24 | $162.0M | $8.4B |
股东权益ALHCOTEX
| Q4 25 | $179.3M | $4.0B | ||
| Q3 25 | $161.9M | $4.0B | ||
| Q2 25 | $141.0M | $3.9B | ||
| Q1 25 | $108.1M | $4.1B | ||
| Q4 24 | $99.9M | $4.2B | ||
| Q3 24 | $114.5M | $4.1B | ||
| Q2 24 | $123.7M | $4.2B | ||
| Q1 24 | $130.9M | $4.1B |
总资产ALHCOTEX
| Q4 25 | $1.1B | $13.6B | ||
| Q3 25 | $1.1B | $13.5B | ||
| Q2 25 | $1.0B | $13.8B | ||
| Q1 25 | $895.6M | $13.8B | ||
| Q4 24 | $782.1M | $13.7B | ||
| Q3 24 | $692.3M | $13.8B | ||
| Q2 24 | $716.3M | $14.2B | ||
| Q1 24 | $633.2M | $16.4B |
负债/权益比ALHCOTEX
| Q4 25 | 1.80× | 1.58× | ||
| Q3 25 | 1.99× | 1.61× | ||
| Q2 25 | 2.29× | 1.62× | ||
| Q1 25 | 2.98× | 1.55× | ||
| Q4 24 | 3.22× | 1.51× | ||
| Q3 24 | 1.85× | 1.55× | ||
| Q2 24 | 1.71× | 1.52× | ||
| Q1 24 | 1.24× | 2.02× |
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 | $318.7M |
| 自由现金流经营现金流 - 资本支出 | $-55.4M | $279.4M |
| 自由现金流率自由现金流/营收 | -5.5% | 21.1% |
| 资本支出强度资本支出/营收 | 0.5% | 3.0% |
| 现金转化率经营现金流/净利润 | — | 1.90× |
| 过去12个月自由现金流最近4个季度 | $113.1M | $878.5M |
8季度趋势，按日历期对齐
经营现金流ALHCOTEX
| Q4 25 | $-50.4M | $318.7M | ||
| Q3 25 | $144.6M | $147.8M | ||
| Q2 25 | $29.1M | $158.2M | ||
| Q1 25 | $16.6M | $402.2M | ||
| Q4 24 | $-8.7M | $348.0M | ||
| Q3 24 | $26.2M | $-77.8M | ||
| Q2 24 | $23.5M | $185.2M | ||
| Q1 24 | $-6.2M | $384.7M |
自由现金流ALHCOTEX
| Q4 25 | $-55.4M | $279.4M | ||
| Q3 25 | $139.1M | $101.2M | ||
| Q2 25 | $21.1M | $124.0M | ||
| Q1 25 | $8.4M | $373.8M | ||
| Q4 24 | $-18.0M | $306.7M | ||
| Q3 24 | $16.9M | $-117.1M | ||
| Q2 24 | $11.8M | $145.2M | ||
| Q1 24 | $-17.4M | $348.2M |
自由现金流率ALHCOTEX
| Q4 25 | -5.5% | 21.1% | ||
| Q3 25 | 14.0% | 7.9% | ||
| Q2 25 | 2.1% | 9.5% | ||
| Q1 25 | 0.9% | 29.8% | ||
| Q4 24 | -2.6% | 23.0% | ||
| Q3 24 | 2.4% | -9.2% | ||
| Q2 24 | 1.7% | 10.7% | ||
| Q1 24 | -2.8% | 24.1% |
资本支出强度ALHCOTEX
| Q4 25 | 0.5% | 3.0% | ||
| Q3 25 | 0.6% | 3.6% | ||
| Q2 25 | 0.8% | 2.6% | ||
| Q1 25 | 0.9% | 2.3% | ||
| Q4 24 | 1.3% | 3.1% | ||
| Q3 24 | 1.3% | 3.1% | ||
| Q2 24 | 1.7% | 2.9% | ||
| Q1 24 | 1.8% | 2.5% |
现金转化率ALHCOTEX
| Q4 25 | — | 1.90× | ||
| Q3 25 | 38.77× | 1.01× | ||
| Q2 25 | 1.86× | 5.49× | ||
| Q1 25 | — | 4.33× | ||
| Q4 24 | — | 1.51× | ||
| Q3 24 | — | -0.92× | ||
| Q2 24 | — | 0.75× | ||
| Q1 24 | — | 3.91× |
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
OTEX
| Transferred At Point In Time | $184.2M | 14% |
| Cybersecurity Enterprise Product | $174.5M | 13% |
| Business Network Product | $159.8M | 12% |
| Business Network Cloud Services And Subscriptions | $151.4M | 11% |
| Content Cloud Services And Subscriptions | $137.9M | 10% |
| Cybersecurity SMB Consumer Product | $127.6M | 10% |
| Application Delivery Management Product | $120.1M | 9% |
| IT Operations Management Product | $113.3M | 9% |
| Professional Service And Other | $82.5M | 6% |
| Analytics Product | $58.1M | 4% |
| IT Operations Management Cloud Services And Subscriptions | $7.8M | 1% |
