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Nasdaq · Healthcare

Alignment Healthcare, Inc. (ALHC)

As-reported financials and SEC filings for Alignment Healthcare, Inc. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About Alignment Healthcare, Inc.

Alignment Healthcare, Inc. provides Medicare Advantage plans designed to improve healthcare for seniors enrolled in Medicare. The company offers a variety of plans that focus on care coordination, chronic condition management, and supplemental benefits, serving seniors primarily in California, North Carolina, Nevada, Arizona, and Texas. Alignment manages healthcare services through a combination of virtual and in-home care, aiming to reduce hospital visits and improve health outcomes for its members.

Snapshot

Revenue
$3.95B
Revenue growth (YoY)
46.1%
Net income
$-724,000
Diluted EPS
$0.00
Gross margin
—
Operating margin
0.4%
Net margin
-0.0%
FCF margin
2.9%
ROE
-0.4%
net income / fiscal-year-end equity
P/E
n/m
not meaningful: a reported loss in the fiscal year or the trailing twelve months
Market cap
$1.71B
Long-term debt / equity
1.80×
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Alignment Healthcare

  • Revenue grew 46.1% to $3.9B in FY2025, slower than the 50.1% the year before.
  • Operating margin turned positive at 0.4% in FY2025, from a 15.3% operating loss in FY2021.
  • Most recent quarter Q2 FY2026: revenue $1.3B, up 31.6% from Q2 FY2025.
  • Free cash flow was $113M in FY2025, 2.9% of revenue.
  • Net loss narrowed to $724000 in FY2025, from $128M in FY2024.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Alignment Healthcare’s fundamentals sit among the 570 Healthcare companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Operating margin0.4%
49th percentile of 410
Net margin-0.0%
52nd percentile of 429
FCF margin2.9%
47th percentile of 385
Revenue growth (YoY)+46.1%
82nd percentile of 552
ROE-0.4%
61st percentile of 481
Long-term debt / equity1.80×
88th percentile of 251
Short interest1.61d
14th percentile of 568

Alignment Healthcare’s long-term debt to equity of 1.80 ranks in the 88th percentile of the 251 Healthcare companies reporting it.

No reported insider purchases (code P) in the last 90 days; 8 insider sales totaling $13.7M. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 5 quant / multi-strat books among the superinvestors we track; no conviction manager currently reports a position.

Conviction investors
0
+5 quant / multi-strat
Initiated / added
2
0 new, 2 added
Reduced / exited
5
3 trimmed, 2 exited
Combined position
$105.5M
reported long value
InvestorAs ofPosition valueSharesChange
Millennium ManagementquantQ2 2026$34.8M1.5MReduced
Renaissance TechnologiesquantQ2 2026$23.8M998.4KReduced
D. E. ShawquantQ2 2026$20.4M854.8KAdded
AQR Capital ManagementquantQ2 2026$14.1M593.7KReduced
Two Sigma InvestmentsquantQ2 2026$12.4M519.5KAdded

No longer held by: Citadel Advisors (as of Q2 2026), Point72 Asset Management (as of Q2 2026)

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
—
code P value
Sells (90d)
8
$13.7M
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-10-06
filed 2026-10-07
Hyong KimChief Medical OfficerSell32.5K$8.30$270K
2026-09-17
filed 2026-09-18
Joseph S. KonowieckiEVP, Corporate AffairsSell23.5K$8.61$202K
2026-09-14
filed 2026-09-16
John E. KaoChief Executive OfficerSell27.4K$13.00$356K
2026-09-11
John E. KaoChief Executive OfficerSell385.3K$12.68$4.9M
2026-09-11
Dawn Christine MaroneyPresidentSell122.7K$12.68$1.6M
2026-09-10
filed 2026-09-11
John E. KaoChief Executive OfficerSell172.6K$12.96$2.2M
2026-08-14
filed 2026-08-18
Dawn Christine MaroneyPresidentSell5.0K$14.00$70K
2026-08-10
John E. KaoChief Executive OfficerSell298.0K$13.88$4.1M
2026-07-15
filed 2026-07-16
Dawn Christine MaroneyPresidentSell177.1K$20.83$3.7M
2026-07-10
filed 2026-07-14
John E. KaoChief Executive OfficerSell279.6K$19.81$5.5M
2026-07-10
filed 2026-07-14
John E. KaoChief Executive OfficerSell18.4K$20.65$379K
2026-07-01
Joseph S. KonowieckiEVP, Corporate AffairsSell25.0K$24.00$600K

Reported non-derivative purchases and sales (codes P/S), which may be open-market or private. Excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
23.6M
settled 2026-09-30
Change vs prior
-4.1%
vs previous settlement
Days to cover
1.61
at avg daily volume
Avg daily volume
14.6M
FINRA reported
SettlementShares shortChangeDays to cover
2026-09-3023.6M-4.1%1.61
2026-09-1524.6M+7.8%3.54
2026-08-3122.8M-3.0%6.04
2026-08-1423.5M+6.8%3.60
2026-07-3122.0M-11.2%4.61
2026-07-1524.8M+1.8%4.67
2026-06-3024.4M-4.1%4.74
2026-06-1525.4M-0.1%3.13

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$3.95B$2.70B$1.80B$1.43B$1.17B
Gross profit—————
Operating income$14.8M$-101.6M$-127.8M$-128.6M$-178.1M
Net income$-724,000$-128.0M$-148.0M$-149.5M$-195.3M
Diluted EPS$0.00$-0.67$-0.79$-0.83$-1.14

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Full details: where the numbers come from.

Balance sheet (as reported)

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$139.9M$34.8M$-59.2M$-45.4M$-78.8M
Capital expenditure$26.8M$41.4M$36.0M$23.8M—
Free cash flow—

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Full details: where the numbers come from.

Quarterly trend

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$1.34B31.6%$36.6M$0.17
Q1 FY2026$1.24B33.3%$11.4M$0.05
Q4 FY202544.4%
Q3 FY2025$993.7M43.5%$3.7M$0.02
Q2 FY2025$1.02B49.0%$15.7M$0.07
Q1 FY2025$926.9M47.5%$-9.1M$-0.05
Q4 FY202452.8%
Q3 FY2024$692.4M53.8%$-26.4M$-0.14

Latest 8 quarters, from company XBRL filings on SEC EDGAR. A dotted underline marks a fourth-quarter figure we calculated from the full year and the first nine months. Revenue YoY is our calculation too: each quarter against the same quarter a year earlier.

Company facts

ExchangeNasdaq
SectorHealthcare
SIC industryHospital & Medical Service Plans
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 30, 2026)
Oldest indexed filing2020
SEC CIK1832466

Selected SEC filings

10-Q2026-07-30
View on EDGAR →
10-Q2026-04-30
View on EDGAR →
8-K2026-10-08
View on EDGAR →
8-K2026-07-30
View on EDGAR →
8-K2026-06-09
View on EDGAR →
8-K2026-05-12
View on EDGAR →

Largest Healthcare peers

All Healthcare companies →

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.