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Alignment Healthcare, Inc.（ALHC）与Steris（STE）财务数据对比。点击上方公司名可切换其他公司
Steris的季度营收约是Alignment Healthcare, Inc.的1.5倍（$1.5B vs $1.0B），Steris净利率更高（12.9% vs -1.1%，领先14.0%），Alignment Healthcare, Inc.同比增速更快（44.4% vs 9.2%），Steris自由现金流更多（$199.5M vs $-55.4M），过去两年Alignment Healthcare, Inc.的营收复合增速更高（26.9% vs 15.8%）
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。
Steris plc是一家美爱合资的医疗设备企业，专注于为美国医疗体系提供灭菌服务及外科手术相关产品。其实际运营总部位于美国俄亥俄州门托市，深耕医疗消毒、感染防控、手术耗材等领域，为医疗机构提供专业可靠的医疗解决方案。
ALHC vs STE — 直观对比
营收规模更大
STE
是对方的1.5倍
$1.0B
营收增速更快
ALHC
高出35.3%
9.2%
净利率更高
STE
高出14.0%
-1.1%
自由现金流更多
STE
多$254.9M
$-55.4M
两年增速更快
ALHC
近两年复合增速
15.8%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $1.5B |
| 净利润 | $-11.0M | $192.9M |
| 毛利率 | — | 43.8% |
| 营业利润率 | -1.0% | 18.3% |
| 净利率 | -1.1% | 12.9% |
| 营收同比 | 44.4% | 9.2% |
| 净利润同比 | 64.6% | 11.2% |
| 每股收益（稀释后） | $-0.04 | $1.96 |
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ALHCSTE
| Q4 25 | $1.0B | $1.5B | ||
| Q3 25 | $993.7M | $1.5B | ||
| Q2 25 | $1.0B | $1.4B | ||
| Q1 25 | $926.9M | $1.5B | ||
| Q4 24 | $701.2M | $1.4B | ||
| Q3 24 | $692.4M | $1.3B | ||
| Q2 24 | $681.3M | $1.3B | ||
| Q1 24 | $628.6M | $1.1B |
净利润ALHCSTE
| Q4 25 | $-11.0M | $192.9M | ||
| Q3 25 | $3.7M | $191.9M | ||
| Q2 25 | $15.7M | $177.4M | ||
| Q1 25 | $-9.1M | $145.7M | ||
| Q4 24 | $-31.1M | $173.5M | ||
| Q3 24 | $-26.4M | $150.0M | ||
| Q2 24 | $-24.0M | $145.4M | ||
| Q1 24 | $-46.5M | $-1.4M |
毛利率ALHCSTE
| Q4 25 | — | 43.8% | ||
| Q3 25 | — | 44.2% | ||
| Q2 25 | — | 45.1% | ||
| Q1 25 | — | 43.3% | ||
| Q4 24 | — | 44.5% | ||
| Q3 24 | — | 43.6% | ||
| Q2 24 | — | 44.7% | ||
| Q1 24 | — | 40.2% |
营业利润率ALHCSTE
| Q4 25 | -1.0% | 18.3% | ||
| Q3 25 | 0.8% | 18.2% | ||
| Q2 25 | 2.2% | 17.7% | ||
| Q1 25 | -0.6% | 14.6% | ||
| Q4 24 | -3.2% | 17.9% | ||
| Q3 24 | -2.8% | 16.5% | ||
| Q2 24 | -2.7% | 14.5% | ||
| Q1 24 | -6.5% | 22.0% |
净利率ALHCSTE
| Q4 25 | -1.1% | 12.9% | ||
| Q3 25 | 0.4% | 13.1% | ||
| Q2 25 | 1.5% | 12.8% | ||
| Q1 25 | -1.0% | 9.8% | ||
| Q4 24 | -4.4% | 12.7% | ||
| Q3 24 | -3.8% | 11.3% | ||
| Q2 24 | -3.5% | 11.4% | ||
| Q1 24 | -7.4% | -0.1% |
每股收益（稀释后）ALHCSTE
| Q4 25 | $-0.04 | $1.96 | ||
| Q3 25 | $0.02 | $1.94 | ||
| Q2 25 | $0.07 | $1.79 | ||
| Q1 25 | $-0.05 | $1.48 | ||
| Q4 24 | $-0.15 | $1.75 | ||
| Q3 24 | $-0.14 | $1.51 | ||
| Q2 24 | $-0.13 | $1.46 | ||
| Q1 24 | $-0.25 | $-0.02 |
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 | $423.7M |
| 总债务越低越好 | $323.2M | $1.9B |
| 股东权益账面价值 | $179.3M | $7.2B |
| 总资产 | $1.1B | $10.6B |
| 负债/权益比越低杠杆越低 | 1.80× | 0.27× |
8季度趋势，按日历期对齐
现金及短期投资ALHCSTE
| Q4 25 | $604.2M | $423.7M | ||
| Q3 25 | $644.1M | $319.2M | ||
| Q2 25 | $503.8M | $279.7M | ||
| Q1 25 | $479.5M | $171.7M | ||
| Q4 24 | $470.6M | $155.2M | ||
| Q3 24 | $381.0M | $172.2M | ||
| Q2 24 | $363.7M | $198.3M | ||
| Q1 24 | $301.7M | $207.0M |
总债务ALHCSTE
| Q4 25 | $323.2M | $1.9B | ||
| Q3 25 | $322.7M | $1.9B | ||
| Q2 25 | $322.3M | $1.9B | ||
| Q1 25 | $321.9M | $1.9B | ||
| Q4 24 | $321.4M | $2.0B | ||
| Q3 24 | $212.0M | $2.2B | ||
| Q2 24 | $211.7M | $2.2B | ||
| Q1 24 | $162.0M | $3.1B |
股东权益ALHCSTE
| Q4 25 | $179.3M | $7.2B | ||
| Q3 25 | $161.9M | $7.0B | ||
| Q2 25 | $141.0M | $7.0B | ||
| Q1 25 | $108.1M | $6.6B | ||
| Q4 24 | $99.9M | $6.4B | ||
| Q3 24 | $114.5M | $6.6B | ||
| Q2 24 | $123.7M | $6.4B | ||
| Q1 24 | $130.9M | $6.3B |
总资产ALHCSTE
| Q4 25 | $1.1B | $10.6B | ||
| Q3 25 | $1.1B | $10.4B | ||
| Q2 25 | $1.0B | $10.4B | ||
| Q1 25 | $895.6M | $10.1B | ||
| Q4 24 | $782.1M | $10.0B | ||
| Q3 24 | $692.3M | $10.2B | ||
| Q2 24 | $716.3M | $10.1B | ||
| Q1 24 | $633.2M | $11.1B |
负债/权益比ALHCSTE
| Q4 25 | 1.80× | 0.27× | ||
| Q3 25 | 1.99× | 0.27× | ||
| Q2 25 | 2.29× | 0.27× | ||
| Q1 25 | 2.98× | 0.29× | ||
| Q4 24 | 3.22× | 0.32× | ||
| Q3 24 | 1.85× | 0.33× | ||
| Q2 24 | 1.71× | 0.35× | ||
| Q1 24 | 1.24× | 0.50× |
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 | $298.2M |
| 自由现金流经营现金流 - 资本支出 | $-55.4M | $199.5M |
| 自由现金流率自由现金流/营收 | -5.5% | 13.3% |
| 资本支出强度资本支出/营收 | 0.5% | 6.6% |
| 现金转化率经营现金流/净利润 | — | 1.55× |
| 过去12个月自由现金流最近4个季度 | $113.1M | $917.1M |
8季度趋势，按日历期对齐
经营现金流ALHCSTE
| Q4 25 | $-50.4M | $298.2M | ||
| Q3 25 | $144.6M | $287.8M | ||
| Q2 25 | $29.1M | $420.0M | ||
| Q1 25 | $16.6M | $260.8M | ||
| Q4 24 | $-8.7M | $332.8M | ||
| Q3 24 | $26.2M | $250.7M | ||
| Q2 24 | $23.5M | $303.7M | ||
| Q1 24 | $-6.2M | $254.8M |
自由现金流ALHCSTE
| Q4 25 | $-55.4M | $199.5M | ||
| Q3 25 | $139.1M | $201.3M | ||
| Q2 25 | $21.1M | $326.4M | ||
| Q1 25 | $8.4M | $189.9M | ||
| Q4 24 | $-18.0M | $243.6M | ||
| Q3 24 | $16.9M | $148.8M | ||
| Q2 24 | $11.8M | $195.7M | ||
| Q1 24 | $-17.4M | $163.3M |
自由现金流率ALHCSTE
| Q4 25 | -5.5% | 13.3% | ||
| Q3 25 | 14.0% | 13.8% | ||
| Q2 25 | 2.1% | 23.5% | ||
| Q1 25 | 0.9% | 12.8% | ||
| Q4 24 | -2.6% | 17.8% | ||
| Q3 24 | 2.4% | 11.2% | ||
| Q2 24 | 1.7% | 15.3% | ||
| Q1 24 | -2.8% | 14.6% |
资本支出强度ALHCSTE
| Q4 25 | 0.5% | 6.6% | ||
| Q3 25 | 0.6% | 5.9% | ||
| Q2 25 | 0.8% | 6.7% | ||
| Q1 25 | 0.9% | 4.8% | ||
| Q4 24 | 1.3% | 6.5% | ||
| Q3 24 | 1.3% | 7.7% | ||
| Q2 24 | 1.7% | 8.4% | ||
| Q1 24 | 1.8% | 8.2% |
现金转化率ALHCSTE
| Q4 25 | — | 1.55× | ||
| Q3 25 | 38.77× | 1.50× | ||
| Q2 25 | 1.86× | 2.37× | ||
| Q1 25 | — | 1.79× | ||
| Q4 24 | — | 1.92× | ||
| Q3 24 | — | 1.67× | ||
| Q2 24 | — | 2.09× | ||
| 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
STE
| Servicerevenues | $404.7M | 27% |
| Consumablerevenues | $387.1M | 26% |
| Applied Sterilization Technologies | $286.6M | 19% |
| Capitalequipmentrevenues | $272.1M | 18% |
| Life Science | $145.8M | 10% |
