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Alignment Healthcare, Inc.（ALHC）与Pinnacle West Capital（PNW）财务数据对比。点击上方公司名可切换其他公司
Pinnacle West Capital的季度营收约是Alignment Healthcare, Inc.的1.1倍（$1.1B vs $1.0B），Pinnacle West Capital净利率更高（1.6% vs -1.1%，领先2.6%），Alignment Healthcare, Inc.同比增速更快（44.4% vs 3.0%），Alignment Healthcare, Inc.自由现金流更多（$-55.4M vs $-192.7M），过去两年Alignment Healthcare, Inc.的营收复合增速更高（26.9% vs 8.9%）
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。
Pinnacle West Capital是美国公用事业控股企业，旗下拥有亚利桑那州规模最大的公用事业公司亚利桑那公共服务（APS）。公司于纽约证券交易所上市，是标普500指数成分股，运营受亚利桑那州公司委员会监管。
ALHC vs PNW — 直观对比
营收规模更大
PNW
是对方的1.1倍
$1.0B
营收增速更快
ALHC
高出41.4%
3.0%
净利率更高
PNW
高出2.6%
-1.1%
自由现金流更多
ALHC
多$137.3M
$-192.7M
两年增速更快
ALHC
近两年复合增速
8.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $1.1B |
| 净利润 | $-11.0M | $17.6M |
| 毛利率 | — | — |
| 营业利润率 | -1.0% | 10.7% |
| 净利率 | -1.1% | 1.6% |
| 营收同比 | 44.4% | 3.0% |
| 净利润同比 | 64.6% | 798.0% |
| 每股收益（稀释后） | $-0.04 | $0.12 |
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ALHCPNW
| Q4 25 | $1.0B | $1.1B | ||
| Q3 25 | $993.7M | $1.8B | ||
| Q2 25 | $1.0B | $1.4B | ||
| Q1 25 | $926.9M | $1.0B | ||
| Q4 24 | $701.2M | $1.1B | ||
| Q3 24 | $692.4M | $1.8B | ||
| Q2 24 | $681.3M | $1.3B | ||
| Q1 24 | $628.6M | $951.7M |
净利润ALHCPNW
| Q4 25 | $-11.0M | $17.6M | ||
| Q3 25 | $3.7M | $417.5M | ||
| Q2 25 | $15.7M | $196.9M | ||
| Q1 25 | $-9.1M | $-338.0K | ||
| Q4 24 | $-31.1M | $-2.5M | ||
| Q3 24 | $-26.4M | $399.3M | ||
| Q2 24 | $-24.0M | $208.1M | ||
| Q1 24 | $-46.5M | $21.2M |
营业利润率ALHCPNW
| Q4 25 | -1.0% | 10.7% | ||
| Q3 25 | 0.8% | 32.0% | ||
| Q2 25 | 2.2% | 22.6% | ||
| Q1 25 | -0.6% | 5.5% | ||
| Q4 24 | -3.2% | 7.7% | ||
| Q3 24 | -2.8% | 30.9% | ||
| Q2 24 | -2.7% | 24.0% | ||
| Q1 24 | -6.5% | 7.0% |
净利率ALHCPNW
| Q4 25 | -1.1% | 1.6% | ||
| Q3 25 | 0.4% | 22.9% | ||
| Q2 25 | 1.5% | 14.5% | ||
| Q1 25 | -1.0% | -0.0% | ||
| Q4 24 | -4.4% | -0.2% | ||
| Q3 24 | -3.8% | 22.6% | ||
| Q2 24 | -3.5% | 15.9% | ||
| Q1 24 | -7.4% | 2.2% |
每股收益（稀释后）ALHCPNW
| Q4 25 | $-0.04 | $0.12 | ||
| Q3 25 | $0.02 | $3.39 | ||
| Q2 25 | $0.07 | $1.58 | ||
| Q1 25 | $-0.05 | $-0.04 | ||
| Q4 24 | $-0.15 | $-0.04 | ||
| Q3 24 | $-0.14 | $3.37 | ||
| Q2 24 | $-0.13 | $1.76 | ||
| Q1 24 | $-0.25 | $0.15 |
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 | $6.6M |
| 总债务越低越好 | $323.2M | — |
| 股东权益账面价值 | $179.3M | $7.0B |
| 总资产 | $1.1B | $30.0B |
| 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ALHCPNW
| Q4 25 | $604.2M | $6.6M | ||
| Q3 25 | $644.1M | $30.9M | ||
| Q2 25 | $503.8M | $18.8M | ||
| Q1 25 | $479.5M | $10.0M | ||
| Q4 24 | $470.6M | $3.8M | ||
| Q3 24 | $381.0M | $49.2M | ||
| Q2 24 | $363.7M | $4.0M | ||
| Q1 24 | $301.7M | $9.6M |
总债务ALHCPNW
| 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ALHCPNW
| Q4 25 | $179.3M | $7.0B | ||
| Q3 25 | $161.9M | $7.2B | ||
| Q2 25 | $141.0M | $6.7B | ||
| Q1 25 | $108.1M | $6.7B | ||
| Q4 24 | $99.9M | $6.8B | ||
| Q3 24 | $114.5M | $6.6B | ||
| Q2 24 | $123.7M | $6.2B | ||
| Q1 24 | $130.9M | $6.2B |
总资产ALHCPNW
| Q4 25 | $1.1B | $30.0B | ||
| Q3 25 | $1.1B | $29.9B | ||
| Q2 25 | $1.0B | $29.2B | ||
| Q1 25 | $895.6M | $27.2B | ||
| Q4 24 | $782.1M | $26.1B | ||
| Q3 24 | $692.3M | $26.3B | ||
| Q2 24 | $716.3M | $25.7B | ||
| Q1 24 | $633.2M | $24.8B |
负债/权益比ALHCPNW
| 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 | $476.8M |
| 自由现金流经营现金流 - 资本支出 | $-55.4M | $-192.7M |
| 自由现金流率自由现金流/营收 | -5.5% | -17.1% |
| 资本支出强度资本支出/营收 | 0.5% | 59.3% |
| 现金转化率经营现金流/净利润 | — | 27.09× |
| 过去12个月自由现金流最近4个季度 | $113.1M | $-819.5M |
8季度趋势，按日历期对齐
经营现金流ALHCPNW
| Q4 25 | $-50.4M | $476.8M | ||
| Q3 25 | $144.6M | $665.0M | ||
| Q2 25 | $29.1M | $261.4M | ||
| Q1 25 | $16.6M | $401.9M | ||
| Q4 24 | $-8.7M | $439.5M | ||
| Q3 24 | $26.2M | $633.2M | ||
| Q2 24 | $23.5M | $189.8M | ||
| Q1 24 | $-6.2M | $347.4M |
自由现金流ALHCPNW
| Q4 25 | $-55.4M | $-192.7M | ||
| Q3 25 | $139.1M | $42.0M | ||
| Q2 25 | $21.1M | $-448.1M | ||
| Q1 25 | $8.4M | $-220.7M | ||
| Q4 24 | $-18.0M | $-92.1M | ||
| Q3 24 | $16.9M | $-32.7M | ||
| Q2 24 | $11.8M | $-344.2M | ||
| Q1 24 | $-17.4M | $-170.4M |
自由现金流率ALHCPNW
| Q4 25 | -5.5% | -17.1% | ||
| Q3 25 | 14.0% | 2.3% | ||
| Q2 25 | 2.1% | -33.0% | ||
| Q1 25 | 0.9% | -21.4% | ||
| Q4 24 | -2.6% | -8.4% | ||
| Q3 24 | 2.4% | -1.8% | ||
| Q2 24 | 1.7% | -26.3% | ||
| Q1 24 | -2.8% | -17.9% |
资本支出强度ALHCPNW
| Q4 25 | 0.5% | 59.3% | ||
| Q3 25 | 0.6% | 34.2% | ||
| Q2 25 | 0.8% | 52.2% | ||
| Q1 25 | 0.9% | 60.3% | ||
| Q4 24 | 1.3% | 48.5% | ||
| Q3 24 | 1.3% | 37.6% | ||
| Q2 24 | 1.7% | 40.8% | ||
| Q1 24 | 1.8% | 54.4% |
现金转化率ALHCPNW
| Q4 25 | — | 27.09× | ||
| Q3 25 | 38.77× | 1.59× | ||
| Q2 25 | 1.86× | 1.33× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.59× | ||
| Q2 24 | — | 0.91× | ||
| Q1 24 | — | 16.41× |
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
PNW
| Electricand Transmission Service | $1.1B | 100% |
| Other Services | $4.4M | 0% |
