vs
Alignment Healthcare, Inc.（ALHC）与SCANSOURCE, INC.（SCSC）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SCANSOURCE, INC.的1.3倍（$1.0B vs $766.5M），SCANSOURCE, INC.净利率更高（2.2% vs -1.1%，领先3.2%），Alignment Healthcare, Inc.同比增速更快（44.4% vs 2.5%），SCANSOURCE, INC.自由现金流更多（$28.9M vs $-55.4M），过去两年Alignment Healthcare, Inc.的营收复合增速更高（26.9% vs 0.9%）
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。
ScanSource是全球领先的专业技术分销商，主营销售点系统、条码扫描设备、网络安全产品、云服务及通信解决方案，面向北美、拉美、欧洲的增值经销商、服务提供商及企业客户，覆盖零售、医疗、工业、公共部门等领域。
ALHC vs SCSC — 直观对比
营收规模更大
ALHC
是对方的1.3倍
$766.5M
营收增速更快
ALHC
高出41.9%
2.5%
净利率更高
SCSC
高出3.2%
-1.1%
自由现金流更多
SCSC
多$84.3M
$-55.4M
两年增速更快
ALHC
近两年复合增速
0.9%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $766.5M |
| 净利润 | $-11.0M | $16.5M |
| 毛利率 | — | 13.4% |
| 营业利润率 | -1.0% | 2.3% |
| 净利率 | -1.1% | 2.2% |
| 营收同比 | 44.4% | 2.5% |
| 净利润同比 | 64.6% | -3.3% |
| 每股收益（稀释后） | $-0.04 | $0.75 |
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ALHCSCSC
| Q4 25 | $1.0B | $766.5M | ||
| Q3 25 | $993.7M | $739.6M | ||
| Q2 25 | $1.0B | $812.9M | ||
| Q1 25 | $926.9M | $704.8M | ||
| Q4 24 | $701.2M | $747.5M | ||
| Q3 24 | $692.4M | $775.6M | ||
| Q2 24 | $681.3M | $746.1M | ||
| Q1 24 | $628.6M | $752.6M |
净利润ALHCSCSC
| Q4 25 | $-11.0M | $16.5M | ||
| Q3 25 | $3.7M | $19.9M | ||
| Q2 25 | $15.7M | $20.1M | ||
| Q1 25 | $-9.1M | $17.4M | ||
| Q4 24 | $-31.1M | $17.1M | ||
| Q3 24 | $-26.4M | $17.0M | ||
| Q2 24 | $-24.0M | $16.1M | ||
| Q1 24 | $-46.5M | $12.8M |
毛利率ALHCSCSC
| Q4 25 | — | 13.4% | ||
| Q3 25 | — | 14.5% | ||
| Q2 25 | — | 12.9% | ||
| Q1 25 | — | 14.2% | ||
| Q4 24 | — | 13.6% | ||
| Q3 24 | — | 13.1% | ||
| Q2 24 | — | 13.0% | ||
| Q1 24 | — | 12.6% |
营业利润率ALHCSCSC
| Q4 25 | -1.0% | 2.3% | ||
| Q3 25 | 0.8% | 3.5% | ||
| Q2 25 | 2.2% | 3.3% | ||
| Q1 25 | -0.6% | 3.2% | ||
| Q4 24 | -3.2% | 2.5% | ||
| Q3 24 | -2.8% | 2.3% | ||
| Q2 24 | -2.7% | 2.9% | ||
| Q1 24 | -6.5% | 2.3% |
净利率ALHCSCSC
| Q4 25 | -1.1% | 2.2% | ||
| Q3 25 | 0.4% | 2.7% | ||
| Q2 25 | 1.5% | 2.5% | ||
| Q1 25 | -1.0% | 2.5% | ||
| Q4 24 | -4.4% | 2.3% | ||
| Q3 24 | -3.8% | 2.2% | ||
| Q2 24 | -3.5% | 2.2% | ||
| Q1 24 | -7.4% | 1.7% |
每股收益（稀释后）ALHCSCSC
| Q4 25 | $-0.04 | $0.75 | ||
| Q3 25 | $0.02 | $0.89 | ||
| Q2 25 | $0.07 | $0.87 | ||
| Q1 25 | $-0.05 | $0.74 | ||
| Q4 24 | $-0.15 | $0.70 | ||
| Q3 24 | $-0.14 | $0.69 | ||
| Q2 24 | $-0.13 | $0.66 | ||
| Q1 24 | $-0.25 | $0.50 |
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 | $83.5M |
| 总债务越低越好 | $323.2M | — |
| 股东权益账面价值 | $179.3M | $910.9M |
| 总资产 | $1.1B | $1.7B |
| 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ALHCSCSC
| Q4 25 | $604.2M | $83.5M | ||
| Q3 25 | $644.1M | $124.9M | ||
| Q2 25 | $503.8M | $126.2M | ||
| Q1 25 | $479.5M | $146.3M | ||
| Q4 24 | $470.6M | $110.5M | ||
| Q3 24 | $381.0M | $145.0M | ||
| Q2 24 | $363.7M | $185.5M | ||
| Q1 24 | $301.7M | $159.1M |
总债务ALHCSCSC
| 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ALHCSCSC
| Q4 25 | $179.3M | $910.9M | ||
| Q3 25 | $161.9M | $914.0M | ||
| Q2 25 | $141.0M | $906.4M | ||
| Q1 25 | $108.1M | $901.7M | ||
| Q4 24 | $99.9M | $900.7M | ||
| Q3 24 | $114.5M | $920.9M | ||
| Q2 24 | $123.7M | $924.3M | ||
| Q1 24 | $130.9M | $944.1M |
总资产ALHCSCSC
| Q4 25 | $1.1B | $1.7B | ||
| Q3 25 | $1.1B | $1.7B | ||
| Q2 25 | $1.0B | $1.8B | ||
| Q1 25 | $895.6M | $1.7B | ||
| Q4 24 | $782.1M | $1.7B | ||
| Q3 24 | $692.3M | $1.8B | ||
| Q2 24 | $716.3M | $1.8B | ||
| Q1 24 | $633.2M | $1.8B |
负债/权益比ALHCSCSC
| 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 | $30.8M |
| 自由现金流经营现金流 - 资本支出 | $-55.4M | $28.9M |
| 自由现金流率自由现金流/营收 | -5.5% | 3.8% |
| 资本支出强度资本支出/营收 | 0.5% | 0.3% |
| 现金转化率经营现金流/净利润 | — | 1.87× |
| 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ALHCSCSC
| Q4 25 | $-50.4M | $30.8M | ||
| Q3 25 | $144.6M | $23.2M | ||
| Q2 25 | $29.1M | — | ||
| Q1 25 | $16.6M | $66.1M | ||
| Q4 24 | $-8.7M | $-6.2M | ||
| Q3 24 | $26.2M | $44.8M | ||
| Q2 24 | $23.5M | — | ||
| Q1 24 | $-6.2M | $160.2M |
自由现金流ALHCSCSC
| Q4 25 | $-55.4M | $28.9M | ||
| Q3 25 | $139.1M | $20.8M | ||
| Q2 25 | $21.1M | — | ||
| Q1 25 | $8.4M | $64.6M | ||
| Q4 24 | $-18.0M | $-8.2M | ||
| Q3 24 | $16.9M | $42.5M | ||
| Q2 24 | $11.8M | — | ||
| Q1 24 | $-17.4M | $157.7M |
自由现金流率ALHCSCSC
| Q4 25 | -5.5% | 3.8% | ||
| Q3 25 | 14.0% | 2.8% | ||
| Q2 25 | 2.1% | — | ||
| Q1 25 | 0.9% | 9.2% | ||
| Q4 24 | -2.6% | -1.1% | ||
| Q3 24 | 2.4% | 5.5% | ||
| Q2 24 | 1.7% | — | ||
| Q1 24 | -2.8% | 21.0% |
资本支出强度ALHCSCSC
| Q4 25 | 0.5% | 0.3% | ||
| Q3 25 | 0.6% | 0.3% | ||
| Q2 25 | 0.8% | 0.3% | ||
| Q1 25 | 0.9% | 0.2% | ||
| Q4 24 | 1.3% | 0.3% | ||
| Q3 24 | 1.3% | 0.3% | ||
| Q2 24 | 1.7% | 0.2% | ||
| Q1 24 | 1.8% | 0.3% |
现金转化率ALHCSCSC
| Q4 25 | — | 1.87× | ||
| Q3 25 | 38.77× | 1.17× | ||
| Q2 25 | 1.86× | — | ||
| Q1 25 | — | 3.79× | ||
| Q4 24 | — | -0.36× | ||
| Q3 24 | — | 2.64× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 12.51× |
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
SCSC
| Products And Services | $723.4M | 94% |
| Intelisys Advisory | $25.0M | 3% |
| Recurring Revenue | $18.2M | 2% |
