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Alignment Healthcare, Inc.（ALHC）与SELECT MEDICAL HOLDINGS CORP（SEM）财务数据对比。点击上方公司名可切换其他公司
SELECT MEDICAL HOLDINGS CORP的季度营收约是Alignment Healthcare, Inc.的1.4倍（$1.4B vs $1.0B），SELECT MEDICAL HOLDINGS CORP净利率更高（1.4% vs -1.1%，领先2.5%），Alignment Healthcare, Inc.同比增速更快（44.4% vs 6.4%），SELECT MEDICAL HOLDINGS CORP自由现金流更多（$5.2M vs $-55.4M），过去两年Alignment Healthcare, Inc.的营收复合增速更高（26.9% vs 2.8%）
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。
Select Medical是总部位于美国宾夕法尼亚州的医疗健康企业，业务涵盖长期急症护理、住院康复医院运营，同时开设有职业健康与物理治疗诊所，母公司Select Medical Holdings在纽约证券交易所挂牌上市。
ALHC vs SEM — 直观对比
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $1.4B |
| 净利润 | $-11.0M | $20.2M |
| 毛利率 | — | — |
| 营业利润率 | -1.0% | 4.6% |
| 净利率 | -1.1% | 1.4% |
| 营收同比 | 44.4% | 6.4% |
| 净利润同比 | 64.6% | 225.7% |
| 每股收益（稀释后） | $-0.04 | $0.17 |
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
| Q4 25 | $1.0B | $1.4B | ||
| Q3 25 | $993.7M | $1.4B | ||
| Q2 25 | $1.0B | $1.3B | ||
| Q1 25 | $926.9M | $1.4B | ||
| Q4 24 | $701.2M | $1.3B | ||
| Q3 24 | $692.4M | $1.3B | ||
| Q2 24 | $681.3M | $1.3B | ||
| Q1 24 | $628.6M | $1.3B |
| Q4 25 | $-11.0M | $20.2M | ||
| Q3 25 | $3.7M | $28.8M | ||
| Q2 25 | $15.7M | $40.6M | ||
| Q1 25 | $-9.1M | $56.7M | ||
| Q4 24 | $-31.1M | $-16.1M | ||
| Q3 24 | $-26.4M | $55.6M | ||
| Q2 24 | $-24.0M | $77.6M | ||
| Q1 24 | $-46.5M | $96.9M |
| Q4 25 | -1.0% | 4.6% | ||
| Q3 25 | 0.8% | 5.4% | ||
| Q2 25 | 2.2% | 6.5% | ||
| Q1 25 | -0.6% | 8.3% | ||
| Q4 24 | -3.2% | 1.6% | ||
| Q3 24 | -2.8% | 4.3% | ||
| Q2 24 | -2.7% | 5.8% | ||
| Q1 24 | -6.5% | 9.0% |
| Q4 25 | -1.1% | 1.4% | ||
| Q3 25 | 0.4% | 2.1% | ||
| Q2 25 | 1.5% | 3.0% | ||
| Q1 25 | -1.0% | 4.2% | ||
| Q4 24 | -4.4% | -1.2% | ||
| Q3 24 | -3.8% | 4.4% | ||
| Q2 24 | -3.5% | 6.1% | ||
| Q1 24 | -7.4% | 7.3% |
| Q4 25 | $-0.04 | $0.17 | ||
| Q3 25 | $0.02 | $0.23 | ||
| Q2 25 | $0.07 | $0.32 | ||
| Q1 25 | $-0.05 | $0.44 | ||
| Q4 24 | $-0.15 | $-0.12 | ||
| Q3 24 | $-0.14 | $0.43 | ||
| Q2 24 | $-0.13 | $0.60 | ||
| Q1 24 | $-0.25 | $0.75 |
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 | $26.5M |
| 总债务越低越好 | $323.2M | $1.8B |
| 股东权益账面价值 | $179.3M | $1.7B |
| 总资产 | $1.1B | $5.9B |
| 负债/权益比越低杠杆越低 | 1.80× | 1.06× |
8季度趋势，按日历期对齐
| Q4 25 | $604.2M | $26.5M | ||
| Q3 25 | $644.1M | $60.1M | ||
| Q2 25 | $503.8M | $52.3M | ||
| Q1 25 | $479.5M | $53.2M | ||
| Q4 24 | $470.6M | $59.7M | ||
| Q3 24 | $381.0M | $191.5M | ||
| Q2 24 | $363.7M | $111.2M | ||
| Q1 24 | $301.7M | $92.6M |
| Q4 25 | $323.2M | $1.8B | ||
| Q3 25 | $322.7M | $1.7B | ||
| Q2 25 | $322.3M | $1.8B | ||
| Q1 25 | $321.9M | $1.8B | ||
| Q4 24 | $321.4M | $1.7B | ||
| Q3 24 | $212.0M | $3.1B | ||
| Q2 24 | $211.7M | $3.6B | ||
| Q1 24 | $162.0M | $3.8B |
| Q4 25 | $179.3M | $1.7B | ||
| Q3 25 | $161.9M | $1.7B | ||
| Q2 25 | $141.0M | $1.7B | ||
| Q1 25 | $108.1M | $1.7B | ||
| Q4 24 | $99.9M | $1.7B | ||
| Q3 24 | $114.5M | $1.9B | ||
| Q2 24 | $123.7M | $1.4B | ||
| Q1 24 | $130.9M | $1.4B |
| Q4 25 | $1.1B | $5.9B | ||
| Q3 25 | $1.1B | $5.7B | ||
| Q2 25 | $1.0B | $5.7B | ||
| Q1 25 | $895.6M | $5.7B | ||
| Q4 24 | $782.1M | $5.6B | ||
| Q3 24 | $692.3M | $8.0B | ||
| Q2 24 | $716.3M | $7.9B | ||
| Q1 24 | $633.2M | $7.9B |
| Q4 25 | 1.80× | 1.06× | ||
| Q3 25 | 1.99× | 1.03× | ||
| Q2 25 | 2.29× | 1.10× | ||
| Q1 25 | 2.98× | 1.03× | ||
| Q4 24 | 3.22× | 1.01× | ||
| Q3 24 | 1.85× | 1.62× | ||
| Q2 24 | 1.71× | 2.54× | ||
| Q1 24 | 1.24× | 2.75× |
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 | $64.3M |
| 自由现金流经营现金流 - 资本支出 | $-55.4M | $5.2M |
| 自由现金流率自由现金流/营收 | -5.5% | 0.4% |
| 资本支出强度资本支出/营收 | 0.5% | 4.2% |
| 现金转化率经营现金流/净利润 | — | 3.19× |
| 过去12个月自由现金流最近4个季度 | $113.1M | $117.2M |
8季度趋势，按日历期对齐
| Q4 25 | $-50.4M | $64.3M | ||
| Q3 25 | $144.6M | $175.3M | ||
| Q2 25 | $29.1M | $110.3M | ||
| Q1 25 | $16.6M | $-3.5M | ||
| Q4 24 | $-8.7M | $125.4M | ||
| Q3 24 | $26.2M | $181.0M | ||
| Q2 24 | $23.5M | $278.2M | ||
| Q1 24 | $-6.2M | $-66.7M |
| Q4 25 | $-55.4M | $5.2M | ||
| Q3 25 | $139.1M | $122.2M | ||
| Q2 25 | $21.1M | $45.6M | ||
| Q1 25 | $8.4M | $-55.8M | ||
| Q4 24 | $-18.0M | $62.0M | ||
| Q3 24 | $16.9M | $130.3M | ||
| Q2 24 | $11.8M | $222.6M | ||
| Q1 24 | $-17.4M | $-119.2M |
| Q4 25 | -5.5% | 0.4% | ||
| Q3 25 | 14.0% | 9.0% | ||
| Q2 25 | 2.1% | 3.4% | ||
| Q1 25 | 0.9% | -4.1% | ||
| Q4 24 | -2.6% | 4.7% | ||
| Q3 24 | 2.4% | 10.2% | ||
| Q2 24 | 1.7% | 17.4% | ||
| Q1 24 | -2.8% | -9.0% |
| Q4 25 | 0.5% | 4.2% | ||
| Q3 25 | 0.6% | 3.9% | ||
| Q2 25 | 0.8% | 4.8% | ||
| Q1 25 | 0.9% | 3.9% | ||
| Q4 24 | 1.3% | 4.8% | ||
| Q3 24 | 1.3% | 4.0% | ||
| Q2 24 | 1.7% | 4.3% | ||
| Q1 24 | 1.8% | 4.0% |
| Q4 25 | — | 3.19× | ||
| Q3 25 | 38.77× | 6.09× | ||
| Q2 25 | 1.86× | 2.72× | ||
| Q1 25 | — | -0.06× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 3.25× | ||
| Q2 24 | — | 3.59× | ||
| Q1 24 | — | -0.69× |
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
SEM
| Critical Illness Recovery Hospitals | $629.7M | 45% |
| Health Care Patient Service Non Medicare | $428.6M | 31% |
| Rehabilitation Hospitals | $339.2M | 24% |
