Alignment Healthcare, Inc. (ALHC) Key Metrics
ALHC valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $1.72B
- Enterprise value
- $1.26B
- P/E (TTM)
- 43.6
- Forward P/E
- 204.1
- PEG ratio
- —
- Price / sales
- 0.4 10-yr median 1.0
- Price / book
- 6.1 10-yr median 10.2
- EV / EBITDA
- 14.6
- Dividend yield
- —
- Beta
- 1.14
ALHC key metrics, 2019–2025
Fiscal year ended December 31, 2025 · U.S. dollarsALHC valuation Price multiples at each fiscal year-end price.
ALHC returns How much profit the business earns on the capital it uses.
ALHC per-share figures Results divided by the shares outstanding at year-end.
ALHC financial health Debt, liquidity and how easily interest is covered.
ALHC efficiency & capital use Working capital cycle and where the cash goes.
ALHC valuation history
ALHC returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
ALHC debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
ALHC cash returned to shareholders
ALHC price vs earnings per share
ALHC key metrics
2019–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Valuation | |||||||
| Market capitalization | $3.91B | $2.15B | $1.60B | $2.13B | $2.42B | — | — |
| Enterprise value | $3.64B | $2.01B | $1.46B | $1.89B | $2.11B | — | — |
| Price / sales | 1.0 | 0.8 | 0.9 | 1.5 | 2.1 | — | — |
| Price / book | 21.8 | 21.5 | 10.2 | 8.9 | 7.9 | — | — |
| Price / free cash flow | 34.6 | — | — | — | — | — | — |
| Price / operating cash flow | 27.9 | 61.7 | — | — | — | — | — |
| EV / sales | 0.9 | 0.7 | 0.8 | 1.3 | 1.8 | — | — |
| EV / EBITDA | 80.2 | — | — | — | — | — | — |
| EV / free cash flow | 32.1 | — | — | — | — | — | — |
| Earnings yield | −0.0% | −6.0% | −9.2% | −7.0% | −8.1% | — | — |
| Free cash flow yield | 2.9% | −0.3% | −5.9% | −3.2% | −4.0% | — | — |
| Shareholder yield (dividends + buybacks) | — | 0.0% | 0.0% | 0.0% | 0.1% | — | — |
| Share price at fiscal year-end | $19.75 | $11.25 | $8.61 | $11.76 | $14.06 | — | — |
| Per share | |||||||
| Revenue per share | $19.94 | $14.17 | $9.79 | $7.91 | $6.79 | $5.12 | $4.98 |
| Earnings per share | −$0.00 | −$0.67 | −$0.79 | −$0.83 | −$1.14 | −$0.12 | −$0.29 |
| Operating cash flow per share | $0.71 | $0.18 | −$0.32 | −$0.25 | −$0.46 | $0.04 | $0.06 |
| Free cash flow per share | $0.57 | −$0.03 | −$0.51 | −$0.38 | −$0.56 | −$0.04 | −$0.01 |
| Cash per share | $3.05 | $2.47 | $1.71 | $2.26 | $2.71 | $1.11 | $0.57 |
| Book value per share | $0.91 | $0.52 | $0.84 | $1.31 | $1.78 | $0.16 | −$0.52 |
| Tangible book value per share | $0.72 | $0.32 | $0.63 | $1.09 | $1.58 | −$0.02 | −$0.75 |
| Dividends per share | — | — | — | — | — | — | $0.36 |
| Capex per share | $0.14 | $0.22 | $0.19 | $0.13 | $0.11 | $0.08 | $0.07 |
| Debt per share | $1.66 | $1.73 | $0.92 | $0.91 | $0.92 | $0.82 | $0.91 |
| Shares outstanding | 198.0M | 190.8M | 186.2M | 181.2M | 172.0M | 187.3M | 152.1M |
| Change in shares outstanding | +3.8% | +2.5% | +2.8% | +5.4% | −8.2% | +23.1% | — |
| Returns & profitability | |||||||
| Return on equity (ROE) | −0.5% | −99.7% | −74.9% | −55.0% | −116.0% | — | — |
| Return on assets (ROA) | −0.1% | −18.6% | −24.2% | −23.6% | −40.3% | −8.6% | −23.1% |
| Return on tangible assets | −0.1% | −17.2% | −26.8% | −25.2% | −32.8% | −7.5% | −28.2% |
| Free cash flow margin | 2.9% | −0.2% | −5.2% | −4.8% | −8.3% | −0.8% | −0.1% |
| Financial health | |||||||
| Total debt | $329.6M | $329.3M | $170.8M | $164.6M | $157.6M | $154.4M | $138.0M |
| Cash & short-term investments | $604.2M | $470.6M | $318.8M | $409.5M | $466.6M | $207.3M | $86.5M |
| Net debt | −$274.6M | −$141.4M | −$148.0M | −$244.9M | −$309.0M | −$52.9M | $51.5M |
| Debt / equity | 1.84 | 3.30 | 1.09 | 0.69 | 0.51 | 5.05 | — |
| Debt / assets | 0.31 | 0.42 | 0.29 | 0.26 | 0.25 | 0.46 | 0.71 |
| Net debt / EBITDA | −6.06 | — | — | — | — | −5.59 | — |
| Current ratio | 1.71 | 1.88 | 1.84 | 2.37 | 3.31 | 1.72 | 0.98 |
| Quick ratio | 1.71 | 1.88 | 1.84 | 2.37 | 3.31 | 1.72 | 0.98 |
| Interest coverage | 0.9 | -4.3 | -6.0 | -7.0 | -10.2 | -0.3 | -2.0 |
| Working capital | $394.7M | $309.8M | $220.5M | $314.6M | $385.6M | $111.2M | −$2.9M |
| Invested capital | −$95.3M | −$41.5M | $8.9M | −$6.8M | −$3.0M | −$22.3M | −$27.2M |
| Tangible asset value | $142.7M | $61.6M | $118.0M | $199.0M | $270.9M | −$4.0M | −$113.7M |
| Net current asset value | $65.1M | −$19.5M | $49.7M | $150.0M | $228.0M | −$43.2M | −$144.8M |
| Graham net-net per share | −$0.47 | −$0.50 | −$0.14 | $0.47 | $1.08 | −$0.38 | −$1.04 |
| Capital allocation | |||||||
| Dividends paid | — | — | — | — | — | — | $54.1M |
| Share buybacks (net) | — | $350,000 | $0 | $0 | $1.5M | $1.5M | $2.0M |
| Capex / revenue | 0.7% | 1.5% | 2.0% | 1.7% | 1.6% | 1.6% | 1.4% |
| Capex / operating cash flow | 19.1% | 119.1% | — | — | — | 207.8% | 111.3% |
| Capex / depreciation | 0.88 | 1.53 | 1.66 | 1.36 | 1.15 | 1.02 | 0.62 |
| Stock-based compensation / revenue | 1.6% | 2.6% | 3.7% | 5.7% | 9.5% | 0.2% | 0.2% |
| SG&A / revenue | 11.2% | 13.6% | 16.8% | 20.6% | 24.9% | 16.3% | 14.5% |
| Efficiency | |||||||
| Days sales outstanding | 18.8 | 18.5 | 21.3 | 19.3 | 15.4 | 14.4 | 17.2 |
| Days payables outstanding | 34.7 | 31.3 | 38.5 | 27.6 | 25.6 | 56.6 | 65.0 |
| Cash conversion cycle (days) | -15.9 | -12.8 | -17.2 | -8.4 | -10.2 | -42.2 | -47.8 |
| Receivables turnover | 19.40 | 19.76 | 17.15 | 18.95 | 23.67 | 25.32 | 21.24 |
| Payables turnover | 10.51 | 11.67 | 9.49 | 13.20 | 14.26 | 6.45 | 5.62 |
| Asset turnover | 4.27 | 3.94 | 2.98 | 2.27 | 2.41 | 3.61 | 3.91 |
| Average receivables | $203.6M | $136.8M | $106.3M | $75.7M | $49.3M | $37.9M | $35.6M |
| Average payables | $329.1M | $206.3M | $171.0M | $94.7M | $72.9M | $123.0M | $117.7M |
| Intangibles / total assets | 3.4% | 5.0% | 6.8% | 6.4% | 5.6% | 10.2% | 18.1% |
Computed from ALHC's annual financial statements (latest annual report filed February 27, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
ALHC valuation and financial ratios
Based on the latest twelve months, the trailing P/E is 43.6 and the forward P/E is 204.1. Alignment Healthcare earned a return on equity of −0.5% in fiscal 2025. It ended the year with $329.6 million of debt and $604.2 million in cash and short-term investments, a net cash position of $274.6 million. The share count rose 30.2% from 152.1M to 198.0M over 6 years.
See the ALHC income statement, the ALHC chart for price history, or the ALHC stock overview for the latest quote and news.
ALHC key metrics FAQ
What is Alignment Healthcare's P/E ratio?
Alignment Healthcare's trailing P/E ratio is 43.6 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 204.1. At the end of fiscal 2025 it was —.
What is Alignment Healthcare's EV/EBITDA?
Alignment Healthcare's enterprise value was 80.2 times EBITDA at the end of fiscal 2025 (enterprise value $3.6 billion, EBITDA $45.3 million); the current EV/EBITDA is 14.6.
What is Alignment Healthcare's return on equity?
Alignment Healthcare's return on equity (ROE) was −0.5% in fiscal 2025: net income of -$0.7 million on average shareholders' equity of $139.6 million.
How much debt does Alignment Healthcare have?
Alignment Healthcare had total debt of $329.6 million at the end of fiscal 2025, a debt-to-equity ratio of 1.84 and more cash than debt.
What is Alignment Healthcare's free cash flow yield?
Alignment Healthcare generated $113.1 million of free cash flow in fiscal 2025, a free cash flow yield of 2.9% on its market value at year-end ($3.9 billion).
What is Alignment Healthcare's current ratio?
Alignment Healthcare's current ratio was 1.71 at the end of fiscal 2025: current assets were 1.71 times current liabilities.