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Alignment Healthcare, Inc.（ALHC）与罗布乐思（RBLX）财务数据对比。点击上方公司名可切换其他公司
罗布乐思的季度营收约是Alignment Healthcare, Inc.的1.4倍（$1.4B vs $1.0B），Alignment Healthcare, Inc.净利率更高（-1.1% vs -22.3%，领先21.2%），Alignment Healthcare, Inc.同比增速更快（44.4% vs 43.2%），罗布乐思自由现金流更多（$308.6M vs $-55.4M），过去两年罗布乐思的营收复合增速更高（32.9% vs 26.9%）
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。
罗布乐思（Roblox Corporation）是总部位于美国加利福尼亚州圣马特奥的游戏企业，由大卫·巴斯祖奇与埃里克·卡塞尔于2004年共同创立。公司核心产品为同名线上游戏创作平台Roblox，于2006年正式上线，截至2024年12月底全球员工规模已超2400人。
ALHC vs RBLX — 直观对比
营收规模更大
RBLX
是对方的1.4倍
$1.0B
营收增速更快
ALHC
高出1.2%
43.2%
净利率更高
ALHC
高出21.2%
-22.3%
自由现金流更多
RBLX
多$364.0M
$-55.4M
两年增速更快
RBLX
近两年复合增速
26.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $1.4B |
| 净利润 | $-11.0M | $-316.0M |
| 毛利率 | — | 77.7% |
| 营业利润率 | -1.0% | -25.3% |
| 净利率 | -1.1% | -22.3% |
| 营收同比 | 44.4% | 43.2% |
| 净利润同比 | 64.6% | -43.9% |
| 每股收益（稀释后） | $-0.04 | $-0.44 |
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ALHCRBLX
| Q4 25 | $1.0B | $1.4B | ||
| Q3 25 | $993.7M | $1.4B | ||
| Q2 25 | $1.0B | $1.1B | ||
| Q1 25 | $926.9M | $1.0B | ||
| Q4 24 | $701.2M | $988.2M | ||
| Q3 24 | $692.4M | $919.0M | ||
| Q2 24 | $681.3M | $893.5M | ||
| Q1 24 | $628.6M | $801.3M |
净利润ALHCRBLX
| Q4 25 | $-11.0M | $-316.0M | ||
| Q3 25 | $3.7M | $-255.6M | ||
| Q2 25 | $15.7M | $-278.4M | ||
| Q1 25 | $-9.1M | $-215.1M | ||
| Q4 24 | $-31.1M | $-219.6M | ||
| Q3 24 | $-26.4M | $-239.3M | ||
| Q2 24 | $-24.0M | $-205.9M | ||
| Q1 24 | $-46.5M | $-270.6M |
毛利率ALHCRBLX
| Q4 25 | — | 77.7% | ||
| Q3 25 | — | 78.2% | ||
| Q2 25 | — | 78.2% | ||
| Q1 25 | — | 78.3% | ||
| Q4 24 | — | 77.9% | ||
| Q3 24 | — | 77.7% | ||
| Q2 24 | — | 77.8% | ||
| Q1 24 | — | 77.7% |
营业利润率ALHCRBLX
| Q4 25 | -1.0% | -25.3% | ||
| Q3 25 | 0.8% | -21.8% | ||
| Q2 25 | 2.2% | -29.8% | ||
| Q1 25 | -0.6% | -24.6% | ||
| Q4 24 | -3.2% | -24.7% | ||
| Q3 24 | -2.8% | -30.4% | ||
| Q2 24 | -2.7% | -26.6% | ||
| Q1 24 | -6.5% | -37.7% |
净利率ALHCRBLX
| Q4 25 | -1.1% | -22.3% | ||
| Q3 25 | 0.4% | -18.8% | ||
| Q2 25 | 1.5% | -25.8% | ||
| Q1 25 | -1.0% | -20.8% | ||
| Q4 24 | -4.4% | -22.2% | ||
| Q3 24 | -3.8% | -26.0% | ||
| Q2 24 | -3.5% | -23.0% | ||
| Q1 24 | -7.4% | -33.8% |
每股收益（稀释后）ALHCRBLX
| Q4 25 | $-0.04 | $-0.44 | ||
| Q3 25 | $0.02 | $-0.37 | ||
| Q2 25 | $0.07 | $-0.41 | ||
| Q1 25 | $-0.05 | $-0.32 | ||
| Q4 24 | $-0.15 | $-0.32 | ||
| Q3 24 | $-0.14 | $-0.37 | ||
| Q2 24 | $-0.13 | $-0.32 | ||
| Q1 24 | $-0.25 | $-0.43 |
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 | $3.1B |
| 总债务越低越好 | $323.2M | $1.2B |
| 股东权益账面价值 | $179.3M | $394.5M |
| 总资产 | $1.1B | $9.6B |
| 负债/权益比越低杠杆越低 | 1.80× | 2.98× |
8季度趋势，按日历期对齐
现金及短期投资ALHCRBLX
| Q4 25 | $604.2M | $3.1B | ||
| Q3 25 | $644.1M | $2.9B | ||
| Q2 25 | $503.8M | $2.6B | ||
| Q1 25 | $479.5M | $2.7B | ||
| Q4 24 | $470.6M | $2.4B | ||
| Q3 24 | $381.0M | $2.3B | ||
| Q2 24 | $363.7M | $2.4B | ||
| Q1 24 | $301.7M | $2.4B |
总债务ALHCRBLX
| Q4 25 | $323.2M | $1.2B | ||
| Q3 25 | $322.7M | — | ||
| Q2 25 | $322.3M | — | ||
| Q1 25 | $321.9M | — | ||
| Q4 24 | $321.4M | $1.2B | ||
| Q3 24 | $212.0M | — | ||
| Q2 24 | $211.7M | — | ||
| Q1 24 | $162.0M | — |
股东权益ALHCRBLX
| Q4 25 | $179.3M | $394.5M | ||
| Q3 25 | $161.9M | $407.6M | ||
| Q2 25 | $141.0M | $353.2M | ||
| Q1 25 | $108.1M | $310.7M | ||
| Q4 24 | $99.9M | $221.4M | ||
| Q3 24 | $114.5M | $189.9M | ||
| Q2 24 | $123.7M | $121.5M | ||
| Q1 24 | $130.9M | $71.6M |
总资产ALHCRBLX
| Q4 25 | $1.1B | $9.6B | ||
| Q3 25 | $1.1B | $8.6B | ||
| Q2 25 | $1.0B | $7.8B | ||
| Q1 25 | $895.6M | $7.5B | ||
| Q4 24 | $782.1M | $7.2B | ||
| Q3 24 | $692.3M | $6.7B | ||
| Q2 24 | $716.3M | $6.5B | ||
| Q1 24 | $633.2M | $6.3B |
负债/权益比ALHCRBLX
| Q4 25 | 1.80× | 2.98× | ||
| Q3 25 | 1.99× | — | ||
| Q2 25 | 2.29× | — | ||
| Q1 25 | 2.98× | — | ||
| Q4 24 | 3.22× | 5.48× | ||
| 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 | $607.0M |
| 自由现金流经营现金流 - 资本支出 | $-55.4M | $308.6M |
| 自由现金流率自由现金流/营收 | -5.5% | 21.8% |
| 资本支出强度资本支出/营收 | 0.5% | 21.1% |
| 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 | $1.4B |
8季度趋势，按日历期对齐
经营现金流ALHCRBLX
| Q4 25 | $-50.4M | $607.0M | ||
| Q3 25 | $144.6M | $546.2M | ||
| Q2 25 | $29.1M | $199.3M | ||
| Q1 25 | $16.6M | $443.9M | ||
| Q4 24 | $-8.7M | $184.5M | ||
| Q3 24 | $26.2M | $247.4M | ||
| Q2 24 | $23.5M | $151.4M | ||
| Q1 24 | $-6.2M | $238.9M |
自由现金流ALHCRBLX
| Q4 25 | $-55.4M | $308.6M | ||
| Q3 25 | $139.1M | $443.6M | ||
| Q2 25 | $21.1M | $176.7M | ||
| Q1 25 | $8.4M | $426.5M | ||
| Q4 24 | $-18.0M | $120.6M | ||
| Q3 24 | $16.9M | $218.0M | ||
| Q2 24 | $11.8M | $111.7M | ||
| Q1 24 | $-17.4M | $192.3M |
自由现金流率ALHCRBLX
| Q4 25 | -5.5% | 21.8% | ||
| Q3 25 | 14.0% | 32.6% | ||
| Q2 25 | 2.1% | 16.3% | ||
| Q1 25 | 0.9% | 41.2% | ||
| Q4 24 | -2.6% | 12.2% | ||
| Q3 24 | 2.4% | 23.7% | ||
| Q2 24 | 1.7% | 12.5% | ||
| Q1 24 | -2.8% | 24.0% |
资本支出强度ALHCRBLX
| Q4 25 | 0.5% | 21.1% | ||
| Q3 25 | 0.6% | 7.5% | ||
| Q2 25 | 0.8% | 2.1% | ||
| Q1 25 | 0.9% | 1.7% | ||
| Q4 24 | 1.3% | 6.5% | ||
| Q3 24 | 1.3% | 3.2% | ||
| Q2 24 | 1.7% | 4.4% | ||
| Q1 24 | 1.8% | 5.8% |
现金转化率ALHCRBLX
| Q4 25 | — | — | ||
| Q3 25 | 38.77× | — | ||
| 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
