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Alignment Healthcare, Inc.（ALHC）与EPLUS INC（PLUS）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EPLUS INC的2.0倍（$1.2B vs $614.8M），EPLUS INC净利率更高（5.7% vs 0.9%，领先4.8%），EPLUS INC同比增速更快（20.3% vs -74.7%），过去两年Alignment Healthcare, Inc.的营收复合增速更高（34.6% vs 2.3%）
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。
ePlus Inc.是美国的科技咨询解决方案提供商，业务覆盖网络安全、云计算、网络架构、协作办公、人工智能及前沿技术领域，为超5000家客户提供定制化解决方案、专业咨询与托管服务，助力企业实现数字化转型与技术升级。
ALHC vs PLUS — 直观对比
营收规模更大
ALHC
是对方的2.0倍
$614.8M
营收增速更快
PLUS
高出95.1%
-74.7%
净利率更高
PLUS
高出4.8%
0.9%
两年增速更快
ALHC
近两年复合增速
2.3%
损益表 — Q1 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $614.8M |
| 净利润 | $11.4M | $35.1M |
| 毛利率 | — | 25.8% |
| 营业利润率 | — | 7.1% |
| 净利率 | 0.9% | 5.7% |
| 营收同比 | -74.7% | 20.3% |
| 净利润同比 | — | 45.2% |
| 每股收益（稀释后） | — | $1.33 |
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ALHCPLUS
| Q1 26 | $1.2B | — | ||
| Q4 25 | $1.0B | $614.8M | ||
| Q3 25 | $993.7M | $608.8M | ||
| Q2 25 | $1.0B | $637.3M | ||
| Q1 25 | $926.9M | — | ||
| Q4 24 | $701.2M | $493.2M | ||
| Q3 24 | $692.4M | $493.4M | ||
| Q2 24 | $681.3M | $535.7M |
净利润ALHCPLUS
| Q1 26 | $11.4M | — | ||
| Q4 25 | $-11.0M | $35.1M | ||
| Q3 25 | $3.7M | $34.9M | ||
| Q2 25 | $15.7M | $37.7M | ||
| Q1 25 | $-9.1M | — | ||
| Q4 24 | $-31.1M | $24.1M | ||
| Q3 24 | $-26.4M | $31.3M | ||
| Q2 24 | $-24.0M | $27.3M |
毛利率ALHCPLUS
| Q1 26 | — | — | ||
| Q4 25 | — | 25.8% | ||
| Q3 25 | — | 26.6% | ||
| Q2 25 | — | 23.3% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 25.4% | ||
| Q3 24 | — | 25.8% | ||
| Q2 24 | — | 23.7% |
营业利润率ALHCPLUS
| Q1 26 | — | — | ||
| Q4 25 | -1.0% | 7.1% | ||
| Q3 25 | 0.8% | 8.0% | ||
| Q2 25 | 2.2% | 5.7% | ||
| Q1 25 | -0.6% | — | ||
| Q4 24 | -3.2% | 3.3% | ||
| Q3 24 | -2.8% | 5.5% | ||
| Q2 24 | -2.7% | 5.9% |
净利率ALHCPLUS
| Q1 26 | 0.9% | — | ||
| Q4 25 | -1.1% | 5.7% | ||
| Q3 25 | 0.4% | 5.7% | ||
| Q2 25 | 1.5% | 5.9% | ||
| Q1 25 | -1.0% | — | ||
| Q4 24 | -4.4% | 4.9% | ||
| Q3 24 | -3.8% | 6.3% | ||
| Q2 24 | -3.5% | 5.1% |
每股收益（稀释后）ALHCPLUS
| Q1 26 | — | — | ||
| Q4 25 | $-0.04 | $1.33 | ||
| Q3 25 | $0.02 | $1.32 | ||
| Q2 25 | $0.07 | $1.43 | ||
| Q1 25 | $-0.05 | — | ||
| Q4 24 | $-0.15 | $0.91 | ||
| Q3 24 | $-0.14 | $1.17 | ||
| Q2 24 | $-0.13 | $1.02 |
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 | $326.3M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $206.9M | $1.1B |
| 总资产 | $1.3B | $1.8B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资ALHCPLUS
| Q1 26 | $705.6M | — | ||
| Q4 25 | $604.2M | $326.3M | ||
| Q3 25 | $644.1M | $402.2M | ||
| Q2 25 | $503.8M | $480.2M | ||
| Q1 25 | $479.5M | — | ||
| Q4 24 | $470.6M | $253.1M | ||
| Q3 24 | $381.0M | $187.5M | ||
| Q2 24 | $363.7M | $349.9M |
总债务ALHCPLUS
| Q1 26 | — | — | ||
| 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 | — |
股东权益ALHCPLUS
| Q1 26 | $206.9M | — | ||
| Q4 25 | $179.3M | $1.1B | ||
| Q3 25 | $161.9M | $1.0B | ||
| Q2 25 | $141.0M | $1.0B | ||
| Q1 25 | $108.1M | — | ||
| Q4 24 | $99.9M | $962.3M | ||
| Q3 24 | $114.5M | $947.0M | ||
| Q2 24 | $123.7M | $921.9M |
总资产ALHCPLUS
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.1B | $1.8B | ||
| Q3 25 | $1.1B | $1.8B | ||
| Q2 25 | $1.0B | $1.8B | ||
| Q1 25 | $895.6M | — | ||
| Q4 24 | $782.1M | $1.8B | ||
| Q3 24 | $692.3M | $1.7B | ||
| Q2 24 | $716.3M | $1.7B |
负债/权益比ALHCPLUS
| Q1 26 | — | — | ||
| 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 | $128.7M | $-87.4M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | 11.27× | -2.49× |
| 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ALHCPLUS
| Q1 26 | $128.7M | — | ||
| Q4 25 | $-50.4M | $-87.4M | ||
| Q3 25 | $144.6M | $-34.8M | ||
| Q2 25 | $29.1M | $-99.0M | ||
| Q1 25 | $16.6M | — | ||
| Q4 24 | $-8.7M | $65.7M | ||
| Q3 24 | $26.2M | $-21.6M | ||
| Q2 24 | $23.5M | $97.1M |
自由现金流ALHCPLUS
| Q1 26 | — | — | ||
| 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ALHCPLUS
| Q1 26 | — | — | ||
| 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ALHCPLUS
| Q1 26 | — | — | ||
| 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ALHCPLUS
| Q1 26 | 11.27× | — | ||
| Q4 25 | — | -2.49× | ||
| Q3 25 | 38.77× | -1.00× | ||
| Q2 25 | 1.86× | -2.63× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 2.72× | ||
| Q3 24 | — | -0.69× | ||
| Q2 24 | — | 3.55× |
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
PLUS
| All Others Customer End Market | $107.0M | 17% |
| Technology Customer End Market | $89.4M | 15% |
| Health Care Customer End Market | $81.5M | 13% |
| Financial Services Customer End Market | $66.1M | 11% |
| Professional Services Reporting Unit | $64.1M | 10% |
| Security | $61.1M | 10% |
| State And Local Government And Educational Institutions | $59.9M | 10% |
| Managed Services Reporting Unit | $48.8M | 8% |
| Other Product | $21.1M | 3% |
| Collaboration | $13.4M | 2% |
