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Alignment Healthcare, Inc.（ALHC）与ZILLOW GROUP, INC.（ZG）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ZILLOW GROUP, INC.的1.5倍（$1.0B vs $654.0M），ZILLOW GROUP, INC.净利率更高（0.5% vs -1.1%，领先1.5%），Alignment Healthcare, Inc.同比增速更快（44.4% vs 18.1%），ZILLOW GROUP, INC.自由现金流更多（$44.0M vs $-55.4M），过去两年Alignment Healthcare, Inc.的营收复合增速更高（26.9% vs 11.2%）
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。
Zillow集团是美国头部房地产科技线上平台企业，2006年由前微软高管里奇·巴顿、劳埃德·弗林克等联合创立，业务涵盖房产信息查询、交易配套服务等，是全球房产科技领域的知名代表企业。
ALHC vs ZG — 直观对比
营收规模更大
ALHC
是对方的1.5倍
$654.0M
营收增速更快
ALHC
高出26.4%
18.1%
净利率更高
ZG
高出1.5%
-1.1%
自由现金流更多
ZG
多$99.4M
$-55.4M
两年增速更快
ALHC
近两年复合增速
11.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $654.0M |
| 净利润 | $-11.0M | $3.0M |
| 毛利率 | — | 72.8% |
| 营业利润率 | -1.0% | -1.7% |
| 净利率 | -1.1% | 0.5% |
| 营收同比 | 44.4% | 18.1% |
| 净利润同比 | 64.6% | 105.8% |
| 每股收益（稀释后） | $-0.04 | $0.01 |
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ALHCZG
| Q4 25 | $1.0B | $654.0M | ||
| Q3 25 | $993.7M | $676.0M | ||
| Q2 25 | $1.0B | $655.0M | ||
| Q1 25 | $926.9M | $598.0M | ||
| Q4 24 | $701.2M | $554.0M | ||
| Q3 24 | $692.4M | $581.0M | ||
| Q2 24 | $681.3M | $572.0M | ||
| Q1 24 | $628.6M | $529.0M |
净利润ALHCZG
| Q4 25 | $-11.0M | $3.0M | ||
| Q3 25 | $3.7M | $10.0M | ||
| Q2 25 | $15.7M | $2.0M | ||
| Q1 25 | $-9.1M | $8.0M | ||
| Q4 24 | $-31.1M | $-52.0M | ||
| Q3 24 | $-26.4M | $-20.0M | ||
| Q2 24 | $-24.0M | $-17.0M | ||
| Q1 24 | $-46.5M | $-23.0M |
毛利率ALHCZG
| Q4 25 | — | 72.8% | ||
| Q3 25 | — | 72.6% | ||
| Q2 25 | — | 74.7% | ||
| Q1 25 | — | 76.8% | ||
| Q4 24 | — | 75.8% | ||
| Q3 24 | — | 75.9% | ||
| Q2 24 | — | 77.3% | ||
| Q1 24 | — | 76.7% |
营业利润率ALHCZG
| Q4 25 | -1.0% | -1.7% | ||
| Q3 25 | 0.8% | -0.4% | ||
| Q2 25 | 2.2% | -1.7% | ||
| Q1 25 | -0.6% | -1.5% | ||
| Q4 24 | -3.2% | -12.5% | ||
| Q3 24 | -2.8% | -7.7% | ||
| Q2 24 | -2.7% | -6.6% | ||
| Q1 24 | -6.5% | -8.5% |
净利率ALHCZG
| Q4 25 | -1.1% | 0.5% | ||
| Q3 25 | 0.4% | 1.5% | ||
| Q2 25 | 1.5% | 0.3% | ||
| Q1 25 | -1.0% | 1.3% | ||
| Q4 24 | -4.4% | -9.4% | ||
| Q3 24 | -3.8% | -3.4% | ||
| Q2 24 | -3.5% | -3.0% | ||
| Q1 24 | -7.4% | -4.3% |
每股收益（稀释后）ALHCZG
| Q4 25 | $-0.04 | $0.01 | ||
| Q3 25 | $0.02 | $0.04 | ||
| Q2 25 | $0.07 | $0.01 | ||
| Q1 25 | $-0.05 | $0.03 | ||
| Q4 24 | $-0.15 | $-0.23 | ||
| Q3 24 | $-0.14 | $-0.08 | ||
| Q2 24 | $-0.13 | $-0.07 | ||
| 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 | $768.0M |
| 总债务越低越好 | $323.2M | — |
| 股东权益账面价值 | $179.3M | $4.9B |
| 总资产 | $1.1B | $5.7B |
| 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ALHCZG
| Q4 25 | $604.2M | $768.0M | ||
| Q3 25 | $644.1M | $874.0M | ||
| Q2 25 | $503.8M | $587.0M | ||
| Q1 25 | $479.5M | $914.0M | ||
| Q4 24 | $470.6M | $1.1B | ||
| Q3 24 | $381.0M | $1.1B | ||
| Q2 24 | $363.7M | $1.2B | ||
| Q1 24 | $301.7M | $1.4B |
总债务ALHCZG
| Q4 25 | $323.2M | — | ||
| Q3 25 | $322.7M | — | ||
| Q2 25 | $322.3M | — | ||
| Q1 25 | $321.9M | — | ||
| Q4 24 | $321.4M | — | ||
| Q3 24 | $212.0M | — | ||
| Q2 24 | $211.7M | — | ||
| Q1 24 | $162.0M | — |
股东权益ALHCZG
| Q4 25 | $179.3M | $4.9B | ||
| Q3 25 | $161.9M | $5.0B | ||
| Q2 25 | $141.0M | $4.7B | ||
| Q1 25 | $108.1M | $4.8B | ||
| Q4 24 | $99.9M | $4.8B | ||
| Q3 24 | $114.5M | $4.7B | ||
| Q2 24 | $123.7M | $4.5B | ||
| Q1 24 | $130.9M | $4.7B |
总资产ALHCZG
| Q4 25 | $1.1B | $5.7B | ||
| Q3 25 | $1.1B | $5.7B | ||
| Q2 25 | $1.0B | $5.4B | ||
| Q1 25 | $895.6M | $5.7B | ||
| Q4 24 | $782.1M | $5.8B | ||
| Q3 24 | $692.3M | $6.2B | ||
| Q2 24 | $716.3M | $6.6B | ||
| Q1 24 | $633.2M | $6.8B |
负债/权益比ALHCZG
| Q4 25 | 1.80× | — | ||
| Q3 25 | 1.99× | — | ||
| Q2 25 | 2.29× | — | ||
| Q1 25 | 2.98× | — | ||
| Q4 24 | 3.22× | — | ||
| Q3 24 | 1.85× | — | ||
| Q2 24 | 1.71× | — | ||
| Q1 24 | 1.24× | — |
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 | $72.0M |
| 自由现金流经营现金流 - 资本支出 | $-55.4M | $44.0M |
| 自由现金流率自由现金流/营收 | -5.5% | 6.7% |
| 资本支出强度资本支出/营收 | 0.5% | 4.3% |
| 现金转化率经营现金流/净利润 | — | 24.00× |
| 过去12个月自由现金流最近4个季度 | $113.1M | $235.0M |
8季度趋势，按日历期对齐
经营现金流ALHCZG
| Q4 25 | $-50.4M | $72.0M | ||
| Q3 25 | $144.6M | $105.0M | ||
| Q2 25 | $29.1M | $87.0M | ||
| Q1 25 | $16.6M | $104.0M | ||
| Q4 24 | $-8.7M | $122.0M | ||
| Q3 24 | $26.2M | $171.0M | ||
| Q2 24 | $23.5M | $55.0M | ||
| Q1 24 | $-6.2M | $80.0M |
自由现金流ALHCZG
| Q4 25 | $-55.4M | $44.0M | ||
| Q3 25 | $139.1M | $73.0M | ||
| Q2 25 | $21.1M | $50.0M | ||
| Q1 25 | $8.4M | $68.0M | ||
| Q4 24 | $-18.0M | $88.0M | ||
| Q3 24 | $16.9M | $138.0M | ||
| Q2 24 | $11.8M | $18.0M | ||
| Q1 24 | $-17.4M | $41.0M |
自由现金流率ALHCZG
| Q4 25 | -5.5% | 6.7% | ||
| Q3 25 | 14.0% | 10.8% | ||
| Q2 25 | 2.1% | 7.6% | ||
| Q1 25 | 0.9% | 11.4% | ||
| Q4 24 | -2.6% | 15.9% | ||
| Q3 24 | 2.4% | 23.8% | ||
| Q2 24 | 1.7% | 3.1% | ||
| Q1 24 | -2.8% | 7.8% |
资本支出强度ALHCZG
| Q4 25 | 0.5% | 4.3% | ||
| Q3 25 | 0.6% | 4.7% | ||
| Q2 25 | 0.8% | 5.6% | ||
| Q1 25 | 0.9% | 6.0% | ||
| Q4 24 | 1.3% | 6.1% | ||
| Q3 24 | 1.3% | 5.7% | ||
| Q2 24 | 1.7% | 6.5% | ||
| Q1 24 | 1.8% | 7.4% |
现金转化率ALHCZG
| Q4 25 | — | 24.00× | ||
| Q3 25 | 38.77× | 10.50× | ||
| Q2 25 | 1.86× | 43.50× | ||
| Q1 25 | — | 13.00× | ||
| 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
ZG
| Residential Revenue | $418.0M | 64% |
| Rental Revenue | $168.0M | 26% |
| Mortgage Revenue | $57.0M | 9% |
| Display Advertising And Other Revenue | $11.0M | 2% |
