Alignment Healthcare (ALHC) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Alignment Healthcare

NasdaqGS•Healthcare•Healthcare Plans

$8.06-0.37(-0.04%)Market closed

Market Cap

$1.52B

P/E

52.4x

P/S

0.3x

P/B

5.5x

Alignment Healthcare, Inc. operates a consumer-centric healthcare platform for seniors in the United States. It delivers customized healthcare experience to meet the needs of seniors through its Medicare Advantage plans. Alignment Healthcare, Inc. was founded in 2013 and is based in Orange, California.

How this company scores

GoodMetricSide Score: 62/100

Strongest: Growth (22/25); weakest: Profitability (11/25).

Profitability11/25

Growth22/25

Balance Sheet & Red Flags16/25

Cash & Earnings Quality13/25

Strengths

Growing revenueRising earningsCash-backed earningsImproving leverage

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 52.4x5y range 52.4x – 174.7x

P/S · 0.3x5y range 0.3x – 2.3x

Currently below its 20-quarter median.

P/B · 5.5x5y range 5.2x – 33.3x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Watch

FCF/Net Income has dropped below 0.7x in 4 quarters — monitor for earnings quality deterioration.

Price & Volume

Market Cap $1.52B

Metrics at a Glance

as of September 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $4.94B
Q. Revenue: $1.36B
TTM EBITDA: $75.16M
TTM Op. Income: $43.52M
Q. Op. Income: $-3.79M
TTM Net Income: $28.92M
Q. Net Income: $-8.05M
EPS: $-0.04
Shares Out.: $208.56M

$4.94B in TTM revenue grew 35.9% YoY, reaching $1.36B last quarter. TTM EBITDA of $75.16M and TTM operating income of $43.52M show growth is flowing through to the bottom line. TTM net income of $28.92M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 0.3%
Op. Margin: -0.3%
Net Margin: -0.6%

Op. margin of -0.3% is down 1.1% YoY — costs are rising relative to revenue. Net margin at -0.6% Over the past year, operating margin is down 136% — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 52.4x
P/S Ratio: 0.3x
P/B Ratio: 5.5x

At 52.4x P/E, the stock trades above typical market levels — the market expects above-average growth. P/S of 0.3x and P/B of 5.5x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Across the last 3 quarters, P/E has fallen for 2 consecutive quarters — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $1.30B
Cash: $727.69M
Long-Term Debt: $324.50M
Book Value: $277.11M
D/E Ratio: 1.2
Debt/EBITDA: 75.2

With $1.30B in assets and $324.50M in long-term debt, D/E is 1.2and book value is $277.11M — moderate leverage. Across the last 8 quarters, debt/equity has fallen for 7 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $47.03M
TTM Free Cash Flow: $77.04M
FCF Margin: 1.6%
FCF / Net Income: 2.7

TTM FCF of $77.04M on $47.03M in operating cash flow. The FCF / Net Income ratio of 2.7x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has fallen for 2 consecutive quarters — a weakening trend.