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Alignment Healthcare, Inc.（ALHC）与环联（TRU）财务数据对比。点击上方公司名可切换其他公司
环联的季度营收约是Alignment Healthcare, Inc.的1.2倍（$1.2B vs $1.0B），环联净利率更高（9.6% vs -1.1%，领先10.7%），Alignment Healthcare, Inc.同比增速更快（44.4% vs 13.7%），过去两年Alignment Healthcare, Inc.的营收复合增速更高（26.9% vs 9.4%）
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。
环联是美国知名消费者信用报告机构，与益博睿、艾奎法克斯并列美国三大征信机构，总部位于伊利诺伊州芝加哥。目前其业务覆盖30余个国家，累计收集超10亿消费者的信用信息，持有美国几乎所有有信用记录消费者的超2亿份档案，服务超6.5万家企业客户，2014年营收达13亿美元。
ALHC vs TRU — 直观对比
营收规模更大
TRU
是对方的1.2倍
$1.0B
营收增速更快
ALHC
高出30.7%
13.7%
净利率更高
TRU
高出10.7%
-1.1%
两年增速更快
ALHC
近两年复合增速
9.4%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $1.2B |
| 净利润 | $-11.0M | $120.0M |
| 毛利率 | — | — |
| 营业利润率 | -1.0% | 19.7% |
| 净利率 | -1.1% | 9.6% |
| 营收同比 | 44.4% | 13.7% |
| 净利润同比 | 64.6% | -4.0% |
| 每股收益（稀释后） | $-0.04 | $0.61 |
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ALHCTRU
| Q1 26 | — | $1.2B | ||
| Q4 25 | $1.0B | $1.2B | ||
| Q3 25 | $993.7M | $1.2B | ||
| Q2 25 | $1.0B | $1.1B | ||
| Q1 25 | $926.9M | $1.1B | ||
| Q4 24 | $701.2M | $1.0B | ||
| Q3 24 | $692.4M | $1.1B | ||
| Q2 24 | $681.3M | $1.0B |
净利润ALHCTRU
| Q1 26 | — | $120.0M | ||
| Q4 25 | $-11.0M | $101.1M | ||
| Q3 25 | $3.7M | $96.6M | ||
| Q2 25 | $15.7M | $109.6M | ||
| Q1 25 | $-9.1M | $148.1M | ||
| Q4 24 | $-31.1M | $66.3M | ||
| Q3 24 | $-26.4M | $68.0M | ||
| Q2 24 | $-24.0M | $85.0M |
营业利润率ALHCTRU
| Q1 26 | — | 19.7% | ||
| Q4 25 | -1.0% | 17.4% | ||
| Q3 25 | 0.8% | 17.8% | ||
| Q2 25 | 2.2% | 16.9% | ||
| Q1 25 | -0.6% | 23.2% | ||
| Q4 24 | -3.2% | 16.5% | ||
| Q3 24 | -2.8% | 14.4% | ||
| Q2 24 | -2.7% | 17.5% |
净利率ALHCTRU
| Q1 26 | — | 9.6% | ||
| Q4 25 | -1.1% | 8.6% | ||
| Q3 25 | 0.4% | 8.3% | ||
| Q2 25 | 1.5% | 9.6% | ||
| Q1 25 | -1.0% | 13.5% | ||
| Q4 24 | -4.4% | 6.4% | ||
| Q3 24 | -3.8% | 6.3% | ||
| Q2 24 | -3.5% | 8.2% |
每股收益（稀释后）ALHCTRU
| Q1 26 | — | $0.61 | ||
| Q4 25 | $-0.04 | $0.52 | ||
| Q3 25 | $0.02 | $0.49 | ||
| Q2 25 | $0.07 | $0.56 | ||
| Q1 25 | $-0.05 | $0.75 | ||
| Q4 24 | $-0.15 | $0.33 | ||
| Q3 24 | $-0.14 | $0.35 | ||
| Q2 24 | $-0.13 | $0.44 |
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 | $732.5M |
| 总债务越低越好 | $323.2M | $5.6B |
| 股东权益账面价值 | $179.3M | $4.9B |
| 总资产 | $1.1B | $12.0B |
| 负债/权益比越低杠杆越低 | 1.80× | 1.14× |
8季度趋势，按日历期对齐
现金及短期投资ALHCTRU
| Q1 26 | — | $732.5M | ||
| Q4 25 | $604.2M | $856.3M | ||
| Q3 25 | $644.1M | $752.5M | ||
| Q2 25 | $503.8M | $690.0M | ||
| Q1 25 | $479.5M | $612.5M | ||
| Q4 24 | $470.6M | $682.0M | ||
| Q3 24 | $381.0M | $646.0M | ||
| Q2 24 | $363.7M | $545.8M |
总债务ALHCTRU
| Q1 26 | — | $5.6B | ||
| Q4 25 | $323.2M | $4.9B | ||
| Q3 25 | $322.7M | — | ||
| Q2 25 | $322.3M | — | ||
| Q1 25 | $321.9M | — | ||
| Q4 24 | $321.4M | $5.1B | ||
| Q3 24 | $212.0M | — | ||
| Q2 24 | $211.7M | — |
股东权益ALHCTRU
| Q1 26 | — | $4.9B | ||
| Q4 25 | $179.3M | $4.4B | ||
| Q3 25 | $161.9M | $4.5B | ||
| Q2 25 | $141.0M | $4.5B | ||
| Q1 25 | $108.1M | $4.4B | ||
| Q4 24 | $99.9M | $4.2B | ||
| Q3 24 | $114.5M | $4.2B | ||
| Q2 24 | $123.7M | $4.1B |
总资产ALHCTRU
| Q1 26 | — | $12.0B | ||
| Q4 25 | $1.1B | $11.1B | ||
| Q3 25 | $1.1B | $11.1B | ||
| Q2 25 | $1.0B | $11.1B | ||
| Q1 25 | $895.6M | $10.9B | ||
| Q4 24 | $782.1M | $11.0B | ||
| Q3 24 | $692.3M | $11.1B | ||
| Q2 24 | $716.3M | $11.0B |
负债/权益比ALHCTRU
| Q1 26 | — | 1.14× | ||
| Q4 25 | 1.80× | 1.11× | ||
| Q3 25 | 1.99× | — | ||
| Q2 25 | 2.29× | — | ||
| Q1 25 | 2.98× | — | ||
| Q4 24 | 3.22× | 1.20× | ||
| Q3 24 | 1.85× | — | ||
| Q2 24 | 1.71× | — |
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% | 5.2% |
| 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ALHCTRU
| Q1 26 | — | — | ||
| Q4 25 | $-50.4M | $319.5M | ||
| Q3 25 | $144.6M | $324.3M | ||
| Q2 25 | $29.1M | $291.3M | ||
| Q1 25 | $16.6M | $52.5M | ||
| Q4 24 | $-8.7M | $254.0M | ||
| Q3 24 | $26.2M | $229.3M | ||
| Q2 24 | $23.5M | $295.2M |
自由现金流ALHCTRU
| Q1 26 | — | — | ||
| Q4 25 | $-55.4M | $222.8M | ||
| Q3 25 | $139.1M | $240.4M | ||
| Q2 25 | $21.1M | $214.3M | ||
| Q1 25 | $8.4M | $-15.9M | ||
| Q4 24 | $-18.0M | $136.9M | ||
| Q3 24 | $16.9M | $161.3M | ||
| Q2 24 | $11.8M | $226.9M |
自由现金流率ALHCTRU
| Q1 26 | — | — | ||
| Q4 25 | -5.5% | 19.0% | ||
| Q3 25 | 14.0% | 20.6% | ||
| Q2 25 | 2.1% | 18.8% | ||
| Q1 25 | 0.9% | -1.5% | ||
| Q4 24 | -2.6% | 13.2% | ||
| Q3 24 | 2.4% | 14.9% | ||
| Q2 24 | 1.7% | 21.8% |
资本支出强度ALHCTRU
| Q1 26 | — | 5.2% | ||
| Q4 25 | 0.5% | 8.3% | ||
| Q3 25 | 0.6% | 7.2% | ||
| Q2 25 | 0.8% | 6.8% | ||
| Q1 25 | 0.9% | 6.2% | ||
| Q4 24 | 1.3% | 11.3% | ||
| Q3 24 | 1.3% | 6.3% | ||
| Q2 24 | 1.7% | 6.6% |
现金转化率ALHCTRU
| Q1 26 | — | — | ||
| Q4 25 | — | 3.16× | ||
| Q3 25 | 38.77× | 3.36× | ||
| Q2 25 | 1.86× | 2.66× | ||
| Q1 25 | — | 0.35× | ||
| Q4 24 | — | 3.83× | ||
| Q3 24 | — | 3.37× | ||
| Q2 24 | — | 3.47× |
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
TRU
| U.S. Markets | $975.0M | 78% |
| International | $274.0M | 22% |
