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Alignment Healthcare, Inc.（ALHC）与Royalty Pharma plc（RPRX）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Royalty Pharma plc的2.0倍（$1.2B vs $622.0M），Royalty Pharma plc净利率更高（34.4% vs 0.9%，领先33.5%），Royalty Pharma plc同比增速更快（4.8% vs -74.7%），过去两年Alignment Healthcare, Inc.的营收复合增速更高（34.6% vs 4.6%）
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。
本公司是总部位于美国马萨诸塞州剑桥市的临床阶段生物制药企业，专注于研发可调节转化生长因子β（TGF-β）超家族蛋白的药物，该类蛋白在红细胞、肌肉、骨骼、血管等细胞与组织的生长修复过程中发挥核心作用。
ALHC vs RPRX — 直观对比
营收规模更大
ALHC
是对方的2.0倍
$622.0M
营收增速更快
RPRX
高出79.5%
-74.7%
净利率更高
RPRX
高出33.5%
0.9%
两年增速更快
ALHC
近两年复合增速
4.6%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $622.0M |
| 净利润 | $11.4M | $214.2M |
| 毛利率 | — | — |
| 营业利润率 | — | 62.4% |
| 净利率 | 0.9% | 34.4% |
| 营收同比 | -74.7% | 4.8% |
| 净利润同比 | — | 2.9% |
| 每股收益（稀释后） | — | $0.49 |
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ALHCRPRX
| Q1 26 | $1.2B | — | ||
| Q4 25 | $1.0B | $622.0M | ||
| Q3 25 | $993.7M | $609.3M | ||
| Q2 25 | $1.0B | $578.7M | ||
| Q1 25 | $926.9M | $568.2M | ||
| Q4 24 | $701.2M | $593.6M | ||
| Q3 24 | $692.4M | $564.7M | ||
| Q2 24 | $681.3M | $537.3M |
净利润ALHCRPRX
| Q1 26 | $11.4M | — | ||
| Q4 25 | $-11.0M | $214.2M | ||
| Q3 25 | $3.7M | $288.2M | ||
| Q2 25 | $15.7M | $30.2M | ||
| Q1 25 | $-9.1M | $238.3M | ||
| Q4 24 | $-31.1M | $208.2M | ||
| Q3 24 | $-26.4M | $544.0M | ||
| Q2 24 | $-24.0M | $102.0M |
营业利润率ALHCRPRX
| Q1 26 | — | — | ||
| Q4 25 | -1.0% | 62.4% | ||
| Q3 25 | 0.8% | 70.1% | ||
| Q2 25 | 2.2% | 36.3% | ||
| Q1 25 | -0.6% | 94.0% | ||
| Q4 24 | -3.2% | 60.9% | ||
| Q3 24 | -2.8% | — | ||
| Q2 24 | -2.7% | 50.2% |
净利率ALHCRPRX
| Q1 26 | 0.9% | — | ||
| Q4 25 | -1.1% | 34.4% | ||
| Q3 25 | 0.4% | 47.3% | ||
| Q2 25 | 1.5% | 5.2% | ||
| Q1 25 | -1.0% | 41.9% | ||
| Q4 24 | -4.4% | 35.1% | ||
| Q3 24 | -3.8% | 96.3% | ||
| Q2 24 | -3.5% | 19.0% |
每股收益（稀释后）ALHCRPRX
| Q1 26 | — | — | ||
| Q4 25 | $-0.04 | $0.49 | ||
| Q3 25 | $0.02 | $0.67 | ||
| Q2 25 | $0.07 | $0.07 | ||
| Q1 25 | $-0.05 | $0.55 | ||
| Q4 24 | $-0.15 | $0.46 | ||
| Q3 24 | $-0.14 | $1.21 | ||
| Q2 24 | $-0.13 | $0.23 |
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 | $618.7M |
| 总债务越低越好 | — | $9.0B |
| 股东权益账面价值 | $206.9M | $9.7B |
| 总资产 | $1.3B | $19.6B |
| 负债/权益比越低杠杆越低 | — | 0.92× |
8季度趋势，按日历期对齐
现金及短期投资ALHCRPRX
| Q1 26 | $705.6M | — | ||
| Q4 25 | $604.2M | $618.7M | ||
| Q3 25 | $644.1M | $938.9M | ||
| Q2 25 | $503.8M | $631.9M | ||
| Q1 25 | $479.5M | $1.1B | ||
| Q4 24 | $470.6M | $929.0M | ||
| Q3 24 | $381.0M | $950.1M | ||
| Q2 24 | $363.7M | $1.8B |
总债务ALHCRPRX
| Q1 26 | — | — | ||
| Q4 25 | $323.2M | $9.0B | ||
| Q3 25 | $322.7M | $8.9B | ||
| Q2 25 | $322.3M | $8.0B | ||
| Q1 25 | $321.9M | $7.6B | ||
| Q4 24 | $321.4M | $7.6B | ||
| Q3 24 | $212.0M | $7.6B | ||
| Q2 24 | $211.7M | $7.6B |
股东权益ALHCRPRX
| Q1 26 | $206.9M | — | ||
| Q4 25 | $179.3M | $9.7B | ||
| Q3 25 | $161.9M | $9.6B | ||
| Q2 25 | $141.0M | $9.5B | ||
| Q1 25 | $108.1M | $9.8B | ||
| Q4 24 | $99.9M | $10.3B | ||
| Q3 24 | $114.5M | $10.3B | ||
| Q2 24 | $123.7M | $9.8B |
总资产ALHCRPRX
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.1B | $19.6B | ||
| Q3 25 | $1.1B | $19.3B | ||
| Q2 25 | $1.0B | $18.3B | ||
| Q1 25 | $895.6M | $17.6B | ||
| Q4 24 | $782.1M | $18.2B | ||
| Q3 24 | $692.3M | $18.0B | ||
| Q2 24 | $716.3M | $17.7B |
负债/权益比ALHCRPRX
| Q1 26 | — | — | ||
| Q4 25 | 1.80× | 0.92× | ||
| Q3 25 | 1.99× | 0.93× | ||
| Q2 25 | 2.29× | 0.84× | ||
| Q1 25 | 2.98× | 0.78× | ||
| Q4 24 | 3.22× | 0.74× | ||
| Q3 24 | 1.85× | 0.74× | ||
| Q2 24 | 1.71× | 0.78× |
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 | $827.1M |
| 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× | 3.86× |
| 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ALHCRPRX
| Q1 26 | $128.7M | — | ||
| Q4 25 | $-50.4M | $827.1M | ||
| Q3 25 | $144.6M | $702.6M | ||
| Q2 25 | $29.1M | $364.0M | ||
| Q1 25 | $16.6M | $596.1M | ||
| Q4 24 | $-8.7M | $742.5M | ||
| Q3 24 | $26.2M | $703.6M | ||
| Q2 24 | $23.5M | $658.2M |
自由现金流ALHCRPRX
| 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ALHCRPRX
| 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ALHCRPRX
| 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ALHCRPRX
| Q1 26 | 11.27× | — | ||
| Q4 25 | — | 3.86× | ||
| Q3 25 | 38.77× | 2.44× | ||
| Q2 25 | 1.86× | 12.06× | ||
| Q1 25 | — | 2.50× | ||
| Q4 24 | — | 3.57× | ||
| Q3 24 | — | 1.29× | ||
| Q2 24 | — | 6.45× |
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
RPRX
| Financial Royalty Assets | $592.4M | 95% |
| Royalty Income Other | $29.6M | 5% |
