ALHC
Alignment Healthcare, Inc.
ALHC's fundamentals are strong: revenue grew 36% and it returned to profit, though free cash flow fell 49%. Its PE isn't a useful guide right now because of how its recent earnings were reported.
ALHC Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Under pressure | |
| Healthy |
ALHC's revenue, profitability and balance sheet are currently healthy, but its cash flow is under pressure.
ALHC PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 42x | $5.83 | -22% |
| Current | 54x | $7.50 | — |
| Fair | 72x | $10.02 | +34% |
| Expensive | 199x | $27.91 | +272% |
| Forward | 1,075x | $7.50 | — |
Historical ranges are pointers, not guarantees.
ALHC's PE is 54x, but its earnings don't support one, so it isn't a reliable read right now.
ALHC Forward outlook
| Metric | Outlook |
|---|---|
| Strongly deteriorating | |
| Returning to profit | |
| Strong growth | |
| Stable | |
| Limited | |
| Low |
Analysts expect ALHC to return to profit, with revenue growing. However, they disagree widely on these estimates.
ALHC Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.01 | -95% |
| Q3 2026 | $0.14 | +$0.25 |
| Q2 2026 | $0.20 | +$0.47 |
| Q1 2026 | $0.10 | +$0.57 |
| Q4 2025 | $0.00 | +$0.67 |
| Q3 2025 | -$0.11 | +$0.66 |
| Q2 2025 | -$0.27 | +$0.55 |
| Q1 2025 | -$0.47 | +$0.37 |
ALHC has returned to profit: it earned $0.14 per share over the past year, after losing money the year before.
ALHC Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.4B | +37% |
| Q2 2026 | $1.3B | +32% |
| Q1 2026 | $1.2B | +33% |
| Q4 2025 | $1B | +44% |
| Q3 2025 | $993.7M | +44% |
| Q2 2025 | $1B | +49% |
| Q1 2025 | $926.9M | +47% |
| Q4 2024 | $701.2M | +51% |
ALHC's revenue has grown year over year every quarter since early 2021: $1.4B last quarter, up 37% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -0.3% | -1.1 points |
| Q2 2026 | 3.1% | +0.9 points |
| Q1 2026 | 1.3% | +1.8 points |
| Q4 2025 | -1% | +2.2 points |
| Q3 2025 | 0.8% | +3.6 points |
| Q2 2025 | 2.2% | +4.9 points |
| Q1 2025 | -0.6% | +6 points |
| Q4 2024 | -3.2% | +5.8 points |
ALHC's operating margin was −0.3% last quarter, down 1.1 points from the same quarter a year ago.
ALHC Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $38.6M | -72% |
| Q2 2026 | -$27.5M | -230% |
| Q1 2026 | $121.3M | +1350% |
| Q4 2025 | -$55.4M | -$37.4M |
| Q3 2025 | $139.1M | +722% |
| Q2 2025 | $21.1M | +79% |
| Q1 2025 | $8.4M | +$25.7M |
| Q4 2024 | -$18M | +$169.5M |
ALHC generated $77M in free cash flow over the past year, down 49% from the year before.
ALHC Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -3% | -6.5M shares |
| 1 year | -0.2% | -371K shares |
| 3 years | +11% | +19.9M shares |
| 5 years | +37% | +56.4M shares |
ALHC has 209M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q4 2022 | — |
| Q3 2022 | — |
| Q2 2022 | — |
| Q1 2022 | — |
| Q4 2021 | — |
| Q3 2021 | — |
| Q2 2021 | — |
| Q1 2021 | $1.5M |
ALHC Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -5.4x | Net Cash |
| Q2 2026 | -4.3x | Net Cash |
| Q1 2026 | -5.8x | Net Cash |
| Q4 2025 | -5.6x | Net Cash |
| Q3 2025 | -9.3x | Net Cash |
| Q2 2025 | -34.5x | Net Cash |
| Q4 2020 | -5.6x | Net Cash |
ALHC has more cash than debt.
ALHC Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 29.7 | Oversold |
| Stochastic | 13.9 | Oversold |
ALHC's weekly RSI is 30 (oversold) and its Stochastic is 14 (oversold).
ALHC PE vs Healthcare Sector
| Metric | ALHC | Sector median | Relative |
|---|---|---|---|
| PE | 54x | 26x | 107% above |
| PE % | 29 | 36 | 7 pts below |
ALHC is trading at 54x earnings, a 107% premium to the Healthcare sector's median of 26x, though its earnings don't support one.
ALHC Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $7.77 | 3.5% below |
| 20 week MA | $12.5 | 40% below |
| 50 week MA | $16.7 | 55% below |
| 100 week MA | $16.0 | 53% below |
| 200 week MA | $11.9 | 37% below |
ALHC is in a downtrend: it's below all five of its weekly moving averages, and 37% below its 200-week average.
ALHC Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $17.3 | $13.7 | -21% |
| 2022 | $13.7 | $11.5 | -16% |
| 2023 | $11.5 | $8.61 | -25% |
| 2024 | $8.61 | $10.8 | +26% |
| 2025 | $10.8 | $18.8 | +74% |
| 2026 YTD | $18.8 | $7.50 | -60% |
ALHC has finished lower in three of the last five years. It's down 60% so far in 2026.