ALHCAlignment Healthcare, Inc.
Hospital & Medical Service Plans
- Revenue
- $3.9B
- 46% YoY
- Operating margin
- 0.4%
- 110% YoY
- EBITDA
- $45M
- 160% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- -8.9×
- −$403M net debt
- AI in 10-K
- —
Red flags 0 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear—Cash flow under 80% of net income
- Dilutive SBCClear2% of revenueOver 10% of revenue
- Payouts exceed cash flowClear0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear2% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $1.2B | $1.4B | $1.8B | $2.7B | $3.9B | 46% |
| Operating income | −$178M | −$129M | −$128M | −$102M | $15M | 115% |
| Net income | −$195M | −$150M | −$148M | −$128M | −$724K | 99% |
| Operating cash flow | −$79M | −$45M | −$59M | $35M | $140M | 302% |
| Capex | — | $24M | $36M | $41M | $27M | 35% |
| Stock-based comp | $621K | $82M | $67M | $71M | $62M | 13% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $10M · 6
- Net
- −$10M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $11M | $52M | 114 | 101 |
| FY2024 | $6M | $25M | 65 | 82 |
| FY2023 | $14M | −$3M | 50 | 83 |
| FY2022 | $34M | $26M | 68 | 78 |
| FY2021 | $46M | $37M | 81 | 98 |