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Alignment Healthcare, Inc.（ALHC）与Taylor Morrison Home Corp（TMHC）财务数据对比。点击上方公司名可切换其他公司
Taylor Morrison Home Corp的季度营收约是Alignment Healthcare, Inc.的1.4倍（$1.4B vs $1.0B），Taylor Morrison Home Corp净利率更高（7.1% vs -1.1%，领先8.2%），Alignment Healthcare, Inc.同比增速更快（44.4% vs -26.8%），过去两年Alignment Healthcare, Inc.的营收复合增速更高（26.9% vs -16.5%）
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。
泰勒莫里森住房公司是美国规模最大的住宅建筑商之一，总部位于亚利桑那州斯科茨代尔，2007年7月由泰勒伍德罗与莫里森住房合并成立。公司业务覆盖亚利桑那、加利福尼亚、得克萨斯等十余个州，产品涵盖首次置业、中端及中高端住宅，可满足不同层级客户的住房需求。
ALHC vs TMHC — 直观对比
营收规模更大
TMHC
是对方的1.4倍
$1.0B
营收增速更快
ALHC
高出71.3%
-26.8%
净利率更高
TMHC
高出8.2%
-1.1%
两年增速更快
ALHC
近两年复合增速
-16.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $1.4B |
| 净利润 | $-11.0M | $98.6M |
| 毛利率 | — | 21.0% |
| 营业利润率 | -1.0% | — |
| 净利率 | -1.1% | 7.1% |
| 营收同比 | 44.4% | -26.8% |
| 净利润同比 | 64.6% | -53.8% |
| 每股收益（稀释后） | $-0.04 | $1.12 |
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ALHCTMHC
| Q1 26 | — | $1.4B | ||
| Q4 25 | $1.0B | $2.1B | ||
| Q3 25 | $993.7M | $2.1B | ||
| Q2 25 | $1.0B | $2.0B | ||
| Q1 25 | $926.9M | $1.9B | ||
| Q4 24 | $701.2M | $2.4B | ||
| Q3 24 | $692.4M | $2.1B | ||
| Q2 24 | $681.3M | $2.0B |
净利润ALHCTMHC
| Q1 26 | — | $98.6M | ||
| Q4 25 | $-11.0M | $174.0M | ||
| Q3 25 | $3.7M | $201.4M | ||
| Q2 25 | $15.7M | $193.6M | ||
| Q1 25 | $-9.1M | $213.5M | ||
| Q4 24 | $-31.1M | $242.5M | ||
| Q3 24 | $-26.4M | $251.1M | ||
| Q2 24 | $-24.0M | $199.5M |
毛利率ALHCTMHC
| Q1 26 | — | 21.0% | ||
| Q4 25 | — | 22.0% | ||
| Q3 25 | — | 22.7% | ||
| Q2 25 | — | 23.0% | ||
| Q1 25 | — | 24.4% | ||
| Q4 24 | — | 23.9% | ||
| Q3 24 | — | 25.0% | ||
| Q2 24 | — | 23.7% |
营业利润率ALHCTMHC
| Q1 26 | — | — | ||
| Q4 25 | -1.0% | — | ||
| Q3 25 | 0.8% | — | ||
| Q2 25 | 2.2% | — | ||
| Q1 25 | -0.6% | — | ||
| Q4 24 | -3.2% | — | ||
| Q3 24 | -2.8% | — | ||
| Q2 24 | -2.7% | — |
净利率ALHCTMHC
| Q1 26 | — | 7.1% | ||
| Q4 25 | -1.1% | 8.3% | ||
| Q3 25 | 0.4% | 9.6% | ||
| Q2 25 | 1.5% | 9.5% | ||
| Q1 25 | -1.0% | 11.3% | ||
| Q4 24 | -4.4% | 10.3% | ||
| Q3 24 | -3.8% | 11.8% | ||
| Q2 24 | -3.5% | 10.0% |
每股收益（稀释后）ALHCTMHC
| Q1 26 | — | $1.12 | ||
| Q4 25 | $-0.04 | $1.77 | ||
| Q3 25 | $0.02 | $2.01 | ||
| Q2 25 | $0.07 | $1.92 | ||
| Q1 25 | $-0.05 | $2.07 | ||
| Q4 24 | $-0.15 | $2.29 | ||
| Q3 24 | $-0.14 | $2.37 | ||
| Q2 24 | $-0.13 | $1.86 |
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 | $652.9M |
| 总债务越低越好 | $323.2M | — |
| 股东权益账面价值 | $179.3M | $6.2B |
| 总资产 | $1.1B | $9.8B |
| 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ALHCTMHC
| Q1 26 | — | $652.9M | ||
| Q4 25 | $604.2M | $850.0M | ||
| Q3 25 | $644.1M | $370.6M | ||
| Q2 25 | $503.8M | $130.2M | ||
| Q1 25 | $479.5M | $377.8M | ||
| Q4 24 | $470.6M | $487.2M | ||
| Q3 24 | $381.0M | $256.4M | ||
| Q2 24 | $363.7M | $246.8M |
总债务ALHCTMHC
| Q1 26 | — | — | ||
| Q4 25 | $323.2M | $2.3B | ||
| Q3 25 | $322.7M | $2.2B | ||
| Q2 25 | $322.3M | $2.1B | ||
| Q1 25 | $321.9M | $2.1B | ||
| Q4 24 | $321.4M | $2.1B | ||
| Q3 24 | $212.0M | $2.1B | ||
| Q2 24 | $211.7M | $2.2B |
股东权益ALHCTMHC
| Q1 26 | — | $6.2B | ||
| Q4 25 | $179.3M | $6.3B | ||
| Q3 25 | $161.9M | $6.2B | ||
| Q2 25 | $141.0M | $6.1B | ||
| Q1 25 | $108.1M | $6.0B | ||
| Q4 24 | $99.9M | $5.9B | ||
| Q3 24 | $114.5M | $5.7B | ||
| Q2 24 | $123.7M | $5.5B |
总资产ALHCTMHC
| Q1 26 | — | $9.8B | ||
| Q4 25 | $1.1B | $9.8B | ||
| Q3 25 | $1.1B | $9.6B | ||
| Q2 25 | $1.0B | $9.5B | ||
| Q1 25 | $895.6M | $9.4B | ||
| Q4 24 | $782.1M | $9.3B | ||
| Q3 24 | $692.3M | $9.3B | ||
| Q2 24 | $716.3M | $9.1B |
负债/权益比ALHCTMHC
| Q1 26 | — | — | ||
| Q4 25 | 1.80× | 0.36× | ||
| Q3 25 | 1.99× | 0.35× | ||
| Q2 25 | 2.29× | 0.35× | ||
| Q1 25 | 2.98× | 0.35× | ||
| Q4 24 | 3.22× | 0.36× | ||
| Q3 24 | 1.85× | 0.37× | ||
| Q2 24 | 1.71× | 0.39× |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $-55.4M | — |
| 自由现金流率自由现金流/营收 | -5.5% | — |
| 资本支出强度资本支出/营收 | 0.5% | — |
| 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 | — |
8季度趋势，按日历期对齐
经营现金流ALHCTMHC
| Q1 26 | — | — | ||
| Q4 25 | $-50.4M | $646.4M | ||
| Q3 25 | $144.6M | $219.6M | ||
| Q2 25 | $29.1M | $-126.0M | ||
| Q1 25 | $16.6M | $77.2M | ||
| Q4 24 | $-8.7M | $438.2M | ||
| Q3 24 | $26.2M | $135.9M | ||
| Q2 24 | $23.5M | $-233.3M |
自由现金流ALHCTMHC
| Q1 26 | — | — | ||
| Q4 25 | $-55.4M | $635.3M | ||
| Q3 25 | $139.1M | $206.6M | ||
| Q2 25 | $21.1M | $-133.6M | ||
| Q1 25 | $8.4M | $68.7M | ||
| Q4 24 | $-18.0M | $428.2M | ||
| Q3 24 | $16.9M | $127.1M | ||
| Q2 24 | $11.8M | $-241.7M |
自由现金流率ALHCTMHC
| Q1 26 | — | — | ||
| Q4 25 | -5.5% | 30.3% | ||
| Q3 25 | 14.0% | 9.9% | ||
| Q2 25 | 2.1% | -6.6% | ||
| Q1 25 | 0.9% | 3.6% | ||
| Q4 24 | -2.6% | 18.2% | ||
| Q3 24 | 2.4% | 6.0% | ||
| Q2 24 | 1.7% | -12.1% |
资本支出强度ALHCTMHC
| Q1 26 | — | — | ||
| Q4 25 | 0.5% | 0.5% | ||
| Q3 25 | 0.6% | 0.6% | ||
| Q2 25 | 0.8% | 0.4% | ||
| Q1 25 | 0.9% | 0.4% | ||
| Q4 24 | 1.3% | 0.4% | ||
| Q3 24 | 1.3% | 0.4% | ||
| Q2 24 | 1.7% | 0.4% |
现金转化率ALHCTMHC
| Q1 26 | — | — | ||
| Q4 25 | — | 3.71× | ||
| Q3 25 | 38.77× | 1.09× | ||
| Q2 25 | 1.86× | -0.65× | ||
| Q1 25 | — | 0.36× | ||
| Q4 24 | — | 1.81× | ||
| Q3 24 | — | 0.54× | ||
| Q2 24 | — | -1.17× |
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
TMHC
| Home closings revenue, net | $1.3B | 95% |
| Financial services revenue, net | $49.3M | 4% |
| Land closings revenue | $14.5M | 1% |
| Amenity and other revenue | $11.9M | 1% |
