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Nasdaq · Financials

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
trailing when available, otherwise FY EPS
Market cap
$2.83B
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 425 Financials companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Operating margin0.4%
30th percentile of 146
Net margin-0.0%
16th percentile of 377
FCF margin2.9%
24th percentile of 272
Revenue growth (YoY)+46.1%
86th percentile of 420
ROE-0.4%
22nd percentile of 375
Long-term debt / equity1.80×
91st percentile of 194
Short interest3.60d
43rd percentile of 420

Alignment Healthcare’s long-term debt to equity of 1.80 ranks in the 91st percentile of the 194 Financials companies reporting it. Alignment Healthcare’s revenue growth of +46.1% ranks in the 86th percentile of the 420 Financials companies reporting it.

No reported insider purchases (code P) in the last 90 days; 13 insider sales totaling $23.4M. 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)
13
$23.4M
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-08-14
filed 2026-08-18
Maroney Dawn ChristinePresidentSell5.0K$14.00$70K
2026-08-10
KAO JOHN EChief Executive OfficerSell298.0K$13.88$4.1M
2026-07-15
filed 2026-07-16
Maroney Dawn ChristinePresidentSell177.1K$20.83$3.7M
2026-07-10
filed 2026-07-14
KAO JOHN EChief Executive OfficerSell279.6K$19.81$5.5M
2026-07-10
filed 2026-07-14
KAO JOHN EChief Executive OfficerSell18.4K$20.65$379K
2026-07-01
KONOWIECKI JOSEPH SEVP, Corporate AffairsSell25.0K$24.00$600K
2026-06-26
KONOWIECKI JOSEPH SEVP, Corporate AffairsSell25.0K$23.00$575K
2026-06-18
KONOWIECKI JOSEPH SEVP, Corporate AffairsSell25.0K$22.00$550K
2026-06-15
Maroney Dawn ChristinePresidentSell30.0K$19.55$586K
2026-06-12
filed 2026-06-15
Kim HyongChief Medical OfficerSell36.0K$19.86$714K
2026-06-11
filed 2026-06-12
KONOWIECKI JOSEPH SEVP, Corporate AffairsSell25.0K$21.00$525K
2026-06-10
filed 2026-06-12
KAO JOHN EChief Executive OfficerSell223.1K$20.60$4.6M

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
23.5M
settled 2026-08-14
Change vs prior
+6.8%
vs previous settlement
Days to cover
3.60
at avg daily volume
Avg daily volume
6.5M
FINRA reported
SettlementShares shortChangeDays to cover
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
2026-05-2925.4M+1.4%7.36
2026-05-1525.1M+55.6%2.71
2026-04-3016.1M-4.9%4.89

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 (hover to see the figure as 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 (hover to see the figure as 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$113.1M$-6.6M$-95.2M$-69.2M

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 (hover to see the figure as filed). Full details: where the numbers come from.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$1.34B31.6%$36.6M$0.17
Q1 FY2026$1.24B33.3%$11.4M$0.05
Q4 FY2025$1.01B44.4%$-11.0M$-0.07
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 FY2024$701.2M52.8%$-31.1M$-0.16
Q3 FY2024$692.4M53.8%$-26.4M$-0.14

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNasdaq
SectorFinancials
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-K2026-07-30
View on EDGAR →
8-K2026-06-09
View on EDGAR →
8-K2026-05-12
View on EDGAR →
8-K2026-04-30
View on EDGAR →

Largest Financials peers

All Financials 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.