vs
Alignment Healthcare, Inc.（ALHC）与希悦尔（SEE）财务数据对比。点击上方公司名可切换其他公司
希悦尔的季度营收约是Alignment Healthcare, Inc.的1.4倍（$1.4B vs $1.0B），希悦尔净利率更高（3.1% vs -1.1%，领先4.2%），Alignment Healthcare, Inc.同比增速更快（44.4% vs 2.6%），希悦尔自由现金流更多（$257.7M vs $-55.4M），过去两年Alignment Healthcare, Inc.的营收复合增速更高（26.9% vs 2.7%）
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。
希悦尔是全球领先的包装与防护解决方案供应商，核心产品包括缓冲防护材料、食品保鲜包装、可持续减废包装系统，服务覆盖电商、零售、食品饮料、工业制造等多个海内外领域。
ALHC vs SEE — 直观对比
营收规模更大
SEE
是对方的1.4倍
$1.0B
营收增速更快
ALHC
高出41.8%
2.6%
净利率更高
SEE
高出4.2%
-1.1%
自由现金流更多
SEE
多$313.1M
$-55.4M
两年增速更快
ALHC
近两年复合增速
2.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $1.4B |
| 净利润 | $-11.0M | $43.8M |
| 毛利率 | — | 28.6% |
| 营业利润率 | -1.0% | 11.4% |
| 净利率 | -1.1% | 3.1% |
| 营收同比 | 44.4% | 2.6% |
| 净利润同比 | 64.6% | 700.0% |
| 每股收益（稀释后） | $-0.04 | $0.30 |
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ALHCSEE
| Q4 25 | $1.0B | $1.4B | ||
| Q3 25 | $993.7M | $1.3B | ||
| Q2 25 | $1.0B | $1.3B | ||
| Q1 25 | $926.9M | $1.3B | ||
| Q4 24 | $701.2M | $1.4B | ||
| Q3 24 | $692.4M | $1.3B | ||
| Q2 24 | $681.3M | $1.3B | ||
| Q1 24 | $628.6M | $1.3B |
净利润ALHCSEE
| Q4 25 | $-11.0M | $43.8M | ||
| Q3 25 | $3.7M | $255.1M | ||
| Q2 25 | $15.7M | $93.1M | ||
| Q1 25 | $-9.1M | $113.5M | ||
| Q4 24 | $-31.1M | $-7.3M | ||
| Q3 24 | $-26.4M | $91.7M | ||
| Q2 24 | $-24.0M | $98.3M | ||
| Q1 24 | $-46.5M | $82.0M |
毛利率ALHCSEE
| Q4 25 | — | 28.6% | ||
| Q3 25 | — | 29.8% | ||
| Q2 25 | — | 30.7% | ||
| Q1 25 | — | 30.9% | ||
| Q4 24 | — | 30.0% | ||
| Q3 24 | — | 30.1% | ||
| Q2 24 | — | 31.2% | ||
| Q1 24 | — | 30.3% |
营业利润率ALHCSEE
| Q4 25 | -1.0% | 11.4% | ||
| Q3 25 | 0.8% | 13.8% | ||
| Q2 25 | 2.2% | 15.0% | ||
| Q1 25 | -0.6% | 14.5% | ||
| Q4 24 | -3.2% | 11.7% | ||
| Q3 24 | -2.8% | 13.9% | ||
| Q2 24 | -2.7% | 15.4% | ||
| Q1 24 | -6.5% | 14.0% |
净利率ALHCSEE
| Q4 25 | -1.1% | 3.1% | ||
| Q3 25 | 0.4% | 19.0% | ||
| Q2 25 | 1.5% | 7.0% | ||
| Q1 25 | -1.0% | 9.0% | ||
| Q4 24 | -4.4% | -0.5% | ||
| Q3 24 | -3.8% | 6.9% | ||
| Q2 24 | -3.5% | 7.4% | ||
| Q1 24 | -7.4% | 6.2% |
每股收益（稀释后）ALHCSEE
| Q4 25 | $-0.04 | $0.30 | ||
| Q3 25 | $0.02 | $1.73 | ||
| Q2 25 | $0.07 | $0.63 | ||
| Q1 25 | $-0.05 | $0.77 | ||
| Q4 24 | $-0.15 | $-0.05 | ||
| Q3 24 | $-0.14 | $0.63 | ||
| Q2 24 | $-0.13 | $0.67 | ||
| Q1 24 | $-0.25 | $0.56 |
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 | $344.0M |
| 总债务越低越好 | $323.2M | $3.3B |
| 股东权益账面价值 | $179.3M | $1.2B |
| 总资产 | $1.1B | $7.0B |
| 负债/权益比越低杠杆越低 | 1.80× | 2.65× |
8季度趋势，按日历期对齐
现金及短期投资ALHCSEE
| Q4 25 | $604.2M | $344.0M | ||
| Q3 25 | $644.1M | $282.5M | ||
| Q2 25 | $503.8M | $354.4M | ||
| Q1 25 | $479.5M | $335.2M | ||
| Q4 24 | $470.6M | $371.8M | ||
| Q3 24 | $381.0M | $386.0M | ||
| Q2 24 | $363.7M | $388.6M | ||
| Q1 24 | $301.7M | $352.8M |
总债务ALHCSEE
| Q4 25 | $323.2M | $3.3B | ||
| Q3 25 | $322.7M | $4.0B | ||
| Q2 25 | $322.3M | $4.0B | ||
| Q1 25 | $321.9M | $4.2B | ||
| Q4 24 | $321.4M | $4.2B | ||
| Q3 24 | $212.0M | $4.3B | ||
| Q2 24 | $211.7M | $4.4B | ||
| Q1 24 | $162.0M | $4.5B |
股东权益ALHCSEE
| Q4 25 | $179.3M | $1.2B | ||
| Q3 25 | $161.9M | $1.2B | ||
| Q2 25 | $141.0M | $953.1M | ||
| Q1 25 | $108.1M | $797.9M | ||
| Q4 24 | $99.9M | $624.5M | ||
| Q3 24 | $114.5M | $771.2M | ||
| Q2 24 | $123.7M | $650.1M | ||
| Q1 24 | $130.9M | $598.3M |
总资产ALHCSEE
| Q4 25 | $1.1B | $7.0B | ||
| Q3 25 | $1.1B | $7.1B | ||
| Q2 25 | $1.0B | $7.2B | ||
| Q1 25 | $895.6M | $7.0B | ||
| Q4 24 | $782.1M | $7.0B | ||
| Q3 24 | $692.3M | $7.3B | ||
| Q2 24 | $716.3M | $7.3B | ||
| Q1 24 | $633.2M | $7.2B |
负债/权益比ALHCSEE
| Q4 25 | 1.80× | 2.65× | ||
| Q3 25 | 1.99× | 3.34× | ||
| Q2 25 | 2.29× | 4.18× | ||
| Q1 25 | 2.98× | 5.26× | ||
| Q4 24 | 3.22× | 6.72× | ||
| Q3 24 | 1.85× | 5.62× | ||
| Q2 24 | 1.71× | 6.81× | ||
| Q1 24 | 1.24× | 7.49× |
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 | $293.6M |
| 自由现金流经营现金流 - 资本支出 | $-55.4M | $257.7M |
| 自由现金流率自由现金流/营收 | -5.5% | 18.5% |
| 资本支出强度资本支出/营收 | 0.5% | 2.6% |
| 现金转化率经营现金流/净利润 | — | 6.70× |
| 过去12个月自由现金流最近4个季度 | $113.1M | $458.5M |
8季度趋势，按日历期对齐
经营现金流ALHCSEE
| Q4 25 | $-50.4M | $293.6M | ||
| Q3 25 | $144.6M | $165.9M | ||
| Q2 25 | $29.1M | $136.6M | ||
| Q1 25 | $16.6M | $31.9M | ||
| Q4 24 | $-8.7M | $244.2M | ||
| Q3 24 | $26.2M | $170.5M | ||
| Q2 24 | $23.5M | $188.2M | ||
| Q1 24 | $-6.2M | $125.1M |
自由现金流ALHCSEE
| Q4 25 | $-55.4M | $257.7M | ||
| Q3 25 | $139.1M | $119.6M | ||
| Q2 25 | $21.1M | $93.2M | ||
| Q1 25 | $8.4M | $-12.0M | ||
| Q4 24 | $-18.0M | $185.1M | ||
| Q3 24 | $16.9M | $115.2M | ||
| Q2 24 | $11.8M | $129.5M | ||
| Q1 24 | $-17.4M | $78.0M |
自由现金流率ALHCSEE
| Q4 25 | -5.5% | 18.5% | ||
| Q3 25 | 14.0% | 8.9% | ||
| Q2 25 | 2.1% | 7.0% | ||
| Q1 25 | 0.9% | -0.9% | ||
| Q4 24 | -2.6% | 13.6% | ||
| Q3 24 | 2.4% | 8.6% | ||
| Q2 24 | 1.7% | 9.7% | ||
| Q1 24 | -2.8% | 5.9% |
资本支出强度ALHCSEE
| Q4 25 | 0.5% | 2.6% | ||
| Q3 25 | 0.6% | 3.4% | ||
| Q2 25 | 0.8% | 3.3% | ||
| Q1 25 | 0.9% | 3.5% | ||
| Q4 24 | 1.3% | 4.4% | ||
| Q3 24 | 1.3% | 4.1% | ||
| Q2 24 | 1.7% | 4.4% | ||
| Q1 24 | 1.8% | 3.6% |
现金转化率ALHCSEE
| Q4 25 | — | 6.70× | ||
| Q3 25 | 38.77× | 0.65× | ||
| Q2 25 | 1.86× | 1.47× | ||
| Q1 25 | — | 0.28× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.86× | ||
| Q2 24 | — | 1.91× | ||
| Q1 24 | — | 1.53× |
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
SEE
| Protective Segment | $1.1B | 78% |
| Other | $292.0M | 21% |
| Pension Plans Defined Benefit | $7.9M | 1% |
