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Alignment Healthcare, Inc.（ALHC）与PPL Corporation（PPL）财务数据对比。点击上方公司名可切换其他公司
PPL Corporation的季度营收约是Alignment Healthcare, Inc.的1.9倍（$2.3B vs $1.2B），PPL Corporation净利率更高（11.3% vs 0.9%，领先10.4%），PPL Corporation同比增速更快（7.2% vs -74.7%），过去两年Alignment Healthcare, Inc.的营收复合增速更高（34.6% vs 1.0%）
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。
PPL公司是总部位于美国宾夕法尼亚州的能源公用事业控股企业，为宾州、肯塔基州、罗德岛州约350万居民及工商业用户提供电力与天然气供应服务，核心业务方向包括电网现代化升级、清洁能源转型、高可靠性可持续能源服务供给。
ALHC vs PPL — 直观对比
营收规模更大
PPL
是对方的1.9倍
$1.2B
营收增速更快
PPL
高出82.0%
-74.7%
净利率更高
PPL
高出10.4%
0.9%
两年增速更快
ALHC
近两年复合增速
1.0%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $2.3B |
| 净利润 | $11.4M | $266.0M |
| 毛利率 | — | — |
| 营业利润率 | — | 20.3% |
| 净利率 | 0.9% | 11.3% |
| 营收同比 | -74.7% | 7.2% |
| 净利润同比 | — | 50.3% |
| 每股收益（稀释后） | — | $0.35 |
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ALHCPPL
| Q1 26 | $1.2B | — | ||
| Q4 25 | $1.0B | $2.3B | ||
| Q3 25 | $993.7M | $2.2B | ||
| Q2 25 | $1.0B | $2.0B | ||
| Q1 25 | $926.9M | $2.5B | ||
| Q4 24 | $701.2M | $2.2B | ||
| Q3 24 | $692.4M | $2.1B | ||
| Q2 24 | $681.3M | $1.9B |
净利润ALHCPPL
| Q1 26 | $11.4M | — | ||
| Q4 25 | $-11.0M | $266.0M | ||
| Q3 25 | $3.7M | $318.0M | ||
| Q2 25 | $15.7M | $183.0M | ||
| Q1 25 | $-9.1M | $414.0M | ||
| Q4 24 | $-31.1M | $177.0M | ||
| Q3 24 | $-26.4M | $214.0M | ||
| Q2 24 | $-24.0M | $190.0M |
营业利润率ALHCPPL
| Q1 26 | — | — | ||
| Q4 25 | -1.0% | 20.3% | ||
| Q3 25 | 0.8% | 25.4% | ||
| Q2 25 | 2.2% | 19.9% | ||
| Q1 25 | -0.6% | 26.6% | ||
| Q4 24 | -3.2% | 17.2% | ||
| Q3 24 | -2.8% | 20.6% | ||
| Q2 24 | -2.7% | 20.8% |
净利率ALHCPPL
| Q1 26 | 0.9% | — | ||
| Q4 25 | -1.1% | 11.3% | ||
| Q3 25 | 0.4% | 14.2% | ||
| Q2 25 | 1.5% | 9.0% | ||
| Q1 25 | -1.0% | 16.3% | ||
| Q4 24 | -4.4% | 8.1% | ||
| Q3 24 | -3.8% | 10.3% | ||
| Q2 24 | -3.5% | 10.1% |
每股收益（稀释后）ALHCPPL
| Q1 26 | — | — | ||
| Q4 25 | $-0.04 | $0.35 | ||
| Q3 25 | $0.02 | $0.43 | ||
| Q2 25 | $0.07 | $0.25 | ||
| Q1 25 | $-0.05 | $0.56 | ||
| Q4 24 | $-0.15 | $0.23 | ||
| Q3 24 | $-0.14 | $0.29 | ||
| Q2 24 | $-0.13 | $0.26 |
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 | $1.1B |
| 总债务越低越好 | — | $18.9B |
| 股东权益账面价值 | $206.9M | $14.9B |
| 总资产 | $1.3B | $45.2B |
| 负债/权益比越低杠杆越低 | — | 1.27× |
8季度趋势，按日历期对齐
现金及短期投资ALHCPPL
| Q1 26 | $705.6M | — | ||
| Q4 25 | $604.2M | $1.1B | ||
| Q3 25 | $644.1M | $1.1B | ||
| Q2 25 | $503.8M | $294.0M | ||
| Q1 25 | $479.5M | $312.0M | ||
| Q4 24 | $470.6M | $306.0M | ||
| Q3 24 | $381.0M | $542.0M | ||
| Q2 24 | $363.7M | $282.0M |
总债务ALHCPPL
| Q1 26 | — | — | ||
| Q4 25 | $323.2M | $18.9B | ||
| Q3 25 | $322.7M | — | ||
| Q2 25 | $322.3M | — | ||
| Q1 25 | $321.9M | — | ||
| Q4 24 | $321.4M | $16.5B | ||
| Q3 24 | $212.0M | — | ||
| Q2 24 | $211.7M | — |
股东权益ALHCPPL
| Q1 26 | $206.9M | — | ||
| Q4 25 | $179.3M | $14.9B | ||
| Q3 25 | $161.9M | $14.4B | ||
| Q2 25 | $141.0M | $14.3B | ||
| Q1 25 | $108.1M | $14.3B | ||
| Q4 24 | $99.9M | $14.1B | ||
| Q3 24 | $114.5M | $14.1B | ||
| Q2 24 | $123.7M | $14.1B |
总资产ALHCPPL
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.1B | $45.2B | ||
| Q3 25 | $1.1B | $43.9B | ||
| Q2 25 | $1.0B | $42.4B | ||
| Q1 25 | $895.6M | $41.8B | ||
| Q4 24 | $782.1M | $41.1B | ||
| Q3 24 | $692.3M | $40.5B | ||
| Q2 24 | $716.3M | $39.8B |
负债/权益比ALHCPPL
| Q1 26 | — | — | ||
| Q4 25 | 1.80× | 1.27× | ||
| Q3 25 | 1.99× | — | ||
| Q2 25 | 2.29× | — | ||
| Q1 25 | 2.98× | — | ||
| Q4 24 | 3.22× | 1.17× | ||
| 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 | $548.0M |
| 自由现金流经营现金流 - 资本支出 | — | $-614.0M |
| 自由现金流率自由现金流/营收 | — | -26.1% |
| 资本支出强度资本支出/营收 | — | 49.5% |
| 现金转化率经营现金流/净利润 | 11.27× | 2.06× |
| 过去12个月自由现金流最近4个季度 | — | $-1.4B |
8季度趋势，按日历期对齐
经营现金流ALHCPPL
| Q1 26 | $128.7M | — | ||
| Q4 25 | $-50.4M | $548.0M | ||
| Q3 25 | $144.6M | $966.0M | ||
| Q2 25 | $29.1M | $602.0M | ||
| Q1 25 | $16.6M | $513.0M | ||
| Q4 24 | $-8.7M | $511.0M | ||
| Q3 24 | $26.2M | $781.0M | ||
| Q2 24 | $23.5M | $766.0M |
自由现金流ALHCPPL
| Q1 26 | — | — | ||
| Q4 25 | $-55.4M | $-614.0M | ||
| Q3 25 | $139.1M | $-179.0M | ||
| Q2 25 | $21.1M | $-328.0M | ||
| Q1 25 | $8.4M | $-280.0M | ||
| Q4 24 | $-18.0M | $-349.0M | ||
| Q3 24 | $16.9M | $102.0M | ||
| Q2 24 | $11.8M | $96.0M |
自由现金流率ALHCPPL
| Q1 26 | — | — | ||
| Q4 25 | -5.5% | -26.1% | ||
| Q3 25 | 14.0% | -8.0% | ||
| Q2 25 | 2.1% | -16.1% | ||
| Q1 25 | 0.9% | -11.0% | ||
| Q4 24 | -2.6% | -15.9% | ||
| Q3 24 | 2.4% | 4.9% | ||
| Q2 24 | 1.7% | 5.1% |
资本支出强度ALHCPPL
| Q1 26 | — | — | ||
| Q4 25 | 0.5% | 49.5% | ||
| Q3 25 | 0.6% | 51.2% | ||
| Q2 25 | 0.8% | 45.6% | ||
| Q1 25 | 0.9% | 31.2% | ||
| Q4 24 | 1.3% | 39.3% | ||
| Q3 24 | 1.3% | 32.7% | ||
| Q2 24 | 1.7% | 35.8% |
现金转化率ALHCPPL
| Q1 26 | 11.27× | — | ||
| Q4 25 | — | 2.06× | ||
| Q3 25 | 38.77× | 3.04× | ||
| Q2 25 | 1.86× | 3.29× | ||
| Q1 25 | — | 1.24× | ||
| Q4 24 | — | 2.89× | ||
| Q3 24 | — | 3.65× | ||
| Q2 24 | — | 4.03× |
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
PPL
| Rhode Island Regulated | $539.0M | 23% |
| Other | $532.0M | 23% |
| Residential | $451.0M | 19% |
| Nonrelated Party | $425.0M | 18% |
| Transmission | $228.0M | 10% |
| Commercial | $117.0M | 5% |
| Wholesale Other | $23.0M | 1% |
| Industrial | $14.0M | 1% |
| Related Party | $13.0M | 1% |
| Wholesale Municipal | $6.0M | 0% |
