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Alignment Healthcare, Inc.（ALHC）与Surgery Partners, Inc.（SGRY）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Surgery Partners, Inc.的1.1倍（$1.0B vs $885.0M），Alignment Healthcare, Inc.净利率更高（-1.1% vs -1.7%，领先0.6%），Alignment Healthcare, Inc.同比增速更快（44.4% vs 2.4%），Surgery Partners, Inc.自由现金流更多（$90.6M vs $-55.4M），过去两年Alignment Healthcare, Inc.的营收复合增速更高（26.9% vs 11.1%）
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。
Surgery Partners, Inc.（NASDAQ代码：SGRY）旗下的United Surgical Partners International（USPI）是美国领先的日间手术护理服务商，总部位于得克萨斯州达拉斯，由唐·斯廷于1998年创立，专注于为患者提供便捷、高效的门诊外科医疗服务，运营多家合规手术中心，覆盖美国多地医疗需求场景。
ALHC vs SGRY — 直观对比
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $885.0M |
| 净利润 | $-11.0M | $-15.0M |
| 毛利率 | — | — |
| 营业利润率 | -1.0% | 12.5% |
| 净利率 | -1.1% | -1.7% |
| 营收同比 | 44.4% | 2.4% |
| 净利润同比 | 64.6% | 86.2% |
| 每股收益（稀释后） | $-0.04 | $-0.11 |
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 | $885.0M | ||
| Q3 25 | $993.7M | $821.5M | ||
| Q2 25 | $1.0B | $826.2M | ||
| Q1 25 | $926.9M | $776.0M | ||
| Q4 24 | $701.2M | $864.4M | ||
| Q3 24 | $692.4M | $770.4M | ||
| Q2 24 | $681.3M | $762.1M | ||
| Q1 24 | $628.6M | $717.4M |
| Q4 25 | $-11.0M | $-15.0M | ||
| Q3 25 | $3.7M | $-22.7M | ||
| Q2 25 | $15.7M | $-2.5M | ||
| Q1 25 | $-9.1M | $-37.7M | ||
| Q4 24 | $-31.1M | $-108.5M | ||
| Q3 24 | $-26.4M | $-31.7M | ||
| Q2 24 | $-24.0M | $-15.5M | ||
| Q1 24 | $-46.5M | $-12.4M |
| Q4 25 | -1.0% | 12.5% | ||
| Q3 25 | 0.8% | 12.9% | ||
| Q2 25 | 2.2% | 13.5% | ||
| Q1 25 | -0.6% | 8.0% | ||
| Q4 24 | -3.2% | 14.7% | ||
| Q3 24 | -2.8% | 7.9% | ||
| Q2 24 | -2.7% | 11.1% | ||
| Q1 24 | -6.5% | 10.6% |
| Q4 25 | -1.1% | -1.7% | ||
| Q3 25 | 0.4% | -2.8% | ||
| Q2 25 | 1.5% | -0.3% | ||
| Q1 25 | -1.0% | -4.9% | ||
| Q4 24 | -4.4% | -12.6% | ||
| Q3 24 | -3.8% | -4.1% | ||
| Q2 24 | -3.5% | -2.0% | ||
| Q1 24 | -7.4% | -1.7% |
| Q4 25 | $-0.04 | $-0.11 | ||
| Q3 25 | $0.02 | $-0.18 | ||
| Q2 25 | $0.07 | $-0.02 | ||
| Q1 25 | $-0.05 | $-0.30 | ||
| Q4 24 | $-0.15 | $-0.86 | ||
| Q3 24 | $-0.14 | $-0.25 | ||
| Q2 24 | $-0.13 | $-0.12 | ||
| Q1 24 | $-0.25 | $-0.10 |
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 | $239.9M |
| 总债务越低越好 | $323.2M | $3.6B |
| 股东权益账面价值 | $179.3M | $1.7B |
| 总资产 | $1.1B | $8.1B |
| 负债/权益比越低杠杆越低 | 1.80× | 2.10× |
8季度趋势，按日历期对齐
| Q4 25 | $604.2M | $239.9M | ||
| Q3 25 | $644.1M | $203.4M | ||
| Q2 25 | $503.8M | $250.1M | ||
| Q1 25 | $479.5M | $229.3M | ||
| Q4 24 | $470.6M | $269.5M | ||
| Q3 24 | $381.0M | $221.8M | ||
| Q2 24 | $363.7M | $213.5M | ||
| Q1 24 | $301.7M | $185.2M |
| Q4 25 | $323.2M | $3.6B | ||
| Q3 25 | $322.7M | $3.5B | ||
| Q2 25 | $322.3M | $3.5B | ||
| Q1 25 | $321.9M | $3.4B | ||
| Q4 24 | $321.4M | $3.3B | ||
| Q3 24 | $212.0M | $3.1B | ||
| Q2 24 | $211.7M | $3.0B | ||
| Q1 24 | $162.0M | $2.8B |
| 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 | $1.8B | ||
| Q3 24 | $114.5M | $1.9B | ||
| Q2 24 | $123.7M | $2.0B | ||
| Q1 24 | $130.9M | $2.0B |
| Q4 25 | $1.1B | $8.1B | ||
| Q3 25 | $1.1B | $7.9B | ||
| Q2 25 | $1.0B | $8.0B | ||
| Q1 25 | $895.6M | $7.9B | ||
| Q4 24 | $782.1M | $7.9B | ||
| Q3 24 | $692.3M | $7.5B | ||
| Q2 24 | $716.3M | $7.5B | ||
| Q1 24 | $633.2M | $7.0B |
| Q4 25 | 1.80× | 2.10× | ||
| Q3 25 | 1.99× | 2.00× | ||
| Q2 25 | 2.29× | 1.98× | ||
| Q1 25 | 2.98× | 1.98× | ||
| Q4 24 | 3.22× | 1.83× | ||
| Q3 24 | 1.85× | 1.63× | ||
| Q2 24 | 1.71× | 1.56× | ||
| Q1 24 | 1.24× | 1.42× |
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 | $103.4M |
| 自由现金流经营现金流 - 资本支出 | $-55.4M | $90.6M |
| 自由现金流率自由现金流/营收 | -5.5% | 10.2% |
| 资本支出强度资本支出/营收 | 0.5% | 1.4% |
| 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 | $195.6M |
8季度趋势，按日历期对齐
| Q4 25 | $-50.4M | $103.4M | ||
| Q3 25 | $144.6M | $83.6M | ||
| Q2 25 | $29.1M | $81.3M | ||
| Q1 25 | $16.6M | $6.0M | ||
| Q4 24 | $-8.7M | $111.4M | ||
| Q3 24 | $26.2M | $65.2M | ||
| Q2 24 | $23.5M | $82.8M | ||
| Q1 24 | $-6.2M | $40.7M |
| Q4 25 | $-55.4M | $90.6M | ||
| Q3 25 | $139.1M | $63.8M | ||
| Q2 25 | $21.1M | $57.9M | ||
| Q1 25 | $8.4M | $-16.7M | ||
| Q4 24 | $-18.0M | $89.1M | ||
| Q3 24 | $16.9M | $45.0M | ||
| Q2 24 | $11.8M | $55.9M | ||
| Q1 24 | $-17.4M | $19.7M |
| Q4 25 | -5.5% | 10.2% | ||
| Q3 25 | 14.0% | 7.8% | ||
| Q2 25 | 2.1% | 7.0% | ||
| Q1 25 | 0.9% | -2.2% | ||
| Q4 24 | -2.6% | 10.3% | ||
| Q3 24 | 2.4% | 5.8% | ||
| Q2 24 | 1.7% | 7.3% | ||
| Q1 24 | -2.8% | 2.7% |
| Q4 25 | 0.5% | 1.4% | ||
| Q3 25 | 0.6% | 2.4% | ||
| Q2 25 | 0.8% | 2.8% | ||
| Q1 25 | 0.9% | 2.9% | ||
| Q4 24 | 1.3% | 2.6% | ||
| Q3 24 | 1.3% | 2.6% | ||
| Q2 24 | 1.7% | 3.5% | ||
| Q1 24 | 1.8% | 2.9% |
| 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
业务分部营收拆解
ALHC
暂无分部数据
SGRY
| Private Insurance | $460.5M | 52% |
| Government Revenue | $368.6M | 42% |
| Other | $19.8M | 2% |
| Self Pay Revenue | $19.6M | 2% |
| Other Patient Service Revenue Sources | $16.5M | 2% |
