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Alignment Healthcare, Inc.（ALHC）与PELOTON INTERACTIVE, INC.（PTON）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PELOTON INTERACTIVE, INC.的1.5倍（$1.0B vs $656.5M），Alignment Healthcare, Inc.净利率更高（-1.1% vs -5.9%，领先4.8%），Alignment Healthcare, Inc.同比增速更快（44.4% vs -2.6%），PELOTON INTERACTIVE, INC.自由现金流更多（$71.0M vs $-55.4M）
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。
派乐腾（Peloton Interactive）是总部位于美国纽约的健身设备与媒体服务商，主打搭载联网触控屏的动感单车、跑步机、室内划船器等产品，用户付费订阅即可观看直播和录播健身课程，设备内置传感器可追踪运动功率等数据，为用户提供实时运动表现反馈，还支持排行榜功能与其他用户互动比拼。
ALHC vs PTON — 直观对比
营收规模更大
ALHC
是对方的1.5倍
$656.5M
营收增速更快
ALHC
高出47.0%
-2.6%
净利率更高
ALHC
高出4.8%
-5.9%
自由现金流更多
PTON
多$126.4M
$-55.4M
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $656.5M |
| 净利润 | $-11.0M | $-38.8M |
| 毛利率 | — | 50.5% |
| 营业利润率 | -1.0% | -2.2% |
| 净利率 | -1.1% | -5.9% |
| 营收同比 | 44.4% | -2.6% |
| 净利润同比 | 64.6% | 57.8% |
| 每股收益（稀释后） | $-0.04 | $-0.09 |
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ALHCPTON
| Q4 25 | $1.0B | $656.5M | ||
| Q3 25 | $993.7M | $550.8M | ||
| Q2 25 | $1.0B | — | ||
| Q1 25 | $926.9M | — | ||
| Q4 24 | $701.2M | — | ||
| Q3 24 | $692.4M | — | ||
| Q2 24 | $681.3M | — | ||
| Q1 24 | $628.6M | — |
净利润ALHCPTON
| Q4 25 | $-11.0M | $-38.8M | ||
| Q3 25 | $3.7M | $13.9M | ||
| Q2 25 | $15.7M | — | ||
| Q1 25 | $-9.1M | — | ||
| Q4 24 | $-31.1M | — | ||
| Q3 24 | $-26.4M | — | ||
| Q2 24 | $-24.0M | — | ||
| Q1 24 | $-46.5M | — |
毛利率ALHCPTON
| Q4 25 | — | 50.5% | ||
| Q3 25 | — | 51.5% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
营业利润率ALHCPTON
| Q4 25 | -1.0% | -2.2% | ||
| Q3 25 | 0.8% | 7.5% | ||
| Q2 25 | 2.2% | — | ||
| Q1 25 | -0.6% | — | ||
| Q4 24 | -3.2% | — | ||
| Q3 24 | -2.8% | — | ||
| Q2 24 | -2.7% | — | ||
| Q1 24 | -6.5% | — |
净利率ALHCPTON
| Q4 25 | -1.1% | -5.9% | ||
| Q3 25 | 0.4% | 2.5% | ||
| Q2 25 | 1.5% | — | ||
| Q1 25 | -1.0% | — | ||
| Q4 24 | -4.4% | — | ||
| Q3 24 | -3.8% | — | ||
| Q2 24 | -3.5% | — | ||
| Q1 24 | -7.4% | — |
每股收益（稀释后）ALHCPTON
| Q4 25 | $-0.04 | $-0.09 | ||
| Q3 25 | $0.02 | $0.03 | ||
| Q2 25 | $0.07 | — | ||
| Q1 25 | $-0.05 | — | ||
| Q4 24 | $-0.15 | — | ||
| Q3 24 | $-0.14 | — | ||
| Q2 24 | $-0.13 | — | ||
| Q1 24 | $-0.25 | — |
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 | $1.2B |
| 总债务越低越好 | $323.2M | $1.5B |
| 股东权益账面价值 | $179.3M | $-326.7M |
| 总资产 | $1.1B | $2.2B |
| 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ALHCPTON
| Q4 25 | $604.2M | $1.2B | ||
| Q3 25 | $644.1M | $1.1B | ||
| Q2 25 | $503.8M | — | ||
| Q1 25 | $479.5M | — | ||
| Q4 24 | $470.6M | — | ||
| Q3 24 | $381.0M | — | ||
| Q2 24 | $363.7M | — | ||
| Q1 24 | $301.7M | — |
总债务ALHCPTON
| Q4 25 | $323.2M | $1.5B | ||
| Q3 25 | $322.7M | $1.5B | ||
| 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ALHCPTON
| Q4 25 | $179.3M | $-326.7M | ||
| Q3 25 | $161.9M | $-347.0M | ||
| Q2 25 | $141.0M | — | ||
| Q1 25 | $108.1M | — | ||
| Q4 24 | $99.9M | — | ||
| Q3 24 | $114.5M | — | ||
| Q2 24 | $123.7M | — | ||
| Q1 24 | $130.9M | — |
总资产ALHCPTON
| Q4 25 | $1.1B | $2.2B | ||
| Q3 25 | $1.1B | $2.2B | ||
| Q2 25 | $1.0B | — | ||
| Q1 25 | $895.6M | — | ||
| Q4 24 | $782.1M | — | ||
| Q3 24 | $692.3M | — | ||
| Q2 24 | $716.3M | — | ||
| Q1 24 | $633.2M | — |
负债/权益比ALHCPTON
| 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 | $71.9M |
| 自由现金流经营现金流 - 资本支出 | $-55.4M | $71.0M |
| 自由现金流率自由现金流/营收 | -5.5% | 10.8% |
| 资本支出强度资本支出/营收 | 0.5% | 0.1% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $113.1M | — |
8季度趋势，按日历期对齐
经营现金流ALHCPTON
| Q4 25 | $-50.4M | $71.9M | ||
| Q3 25 | $144.6M | $71.9M | ||
| Q2 25 | $29.1M | — | ||
| Q1 25 | $16.6M | — | ||
| Q4 24 | $-8.7M | — | ||
| Q3 24 | $26.2M | — | ||
| Q2 24 | $23.5M | — | ||
| Q1 24 | $-6.2M | — |
自由现金流ALHCPTON
| Q4 25 | $-55.4M | $71.0M | ||
| Q3 25 | $139.1M | $67.4M | ||
| Q2 25 | $21.1M | — | ||
| Q1 25 | $8.4M | — | ||
| Q4 24 | $-18.0M | — | ||
| Q3 24 | $16.9M | — | ||
| Q2 24 | $11.8M | — | ||
| Q1 24 | $-17.4M | — |
自由现金流率ALHCPTON
| Q4 25 | -5.5% | 10.8% | ||
| Q3 25 | 14.0% | 12.2% | ||
| Q2 25 | 2.1% | — | ||
| Q1 25 | 0.9% | — | ||
| Q4 24 | -2.6% | — | ||
| Q3 24 | 2.4% | — | ||
| Q2 24 | 1.7% | — | ||
| Q1 24 | -2.8% | — |
资本支出强度ALHCPTON
| Q4 25 | 0.5% | 0.1% | ||
| Q3 25 | 0.6% | 0.8% | ||
| Q2 25 | 0.8% | — | ||
| Q1 25 | 0.9% | — | ||
| Q4 24 | 1.3% | — | ||
| Q3 24 | 1.3% | — | ||
| Q2 24 | 1.7% | — | ||
| Q1 24 | 1.8% | — |
现金转化率ALHCPTON
| Q4 25 | — | — | ||
| Q3 25 | 38.77× | 5.17× | ||
| Q2 25 | 1.86× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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
PTON
| Subscription And Circulation | $412.6M | 63% |
| Connected Fitness Products Segment | $243.9M | 37% |
| Product Warranty | $4.0M | 1% |
