Alignment Healthcare, Inc. key statistics and ratios

In fiscal 2025, Alignment Healthcare, Inc. had return on equity of -0.5%, an operating margin of 0.4%, debt equal to 184.1% of equity and a current ratio of 1.71. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Alignment Healthcare, Inc.: financial ratios, annual
Fiscal year	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMSept 2026
Operating margin	−3.9%	−0.5%	−15.2%	−9.0%	−7.0%	−3.8%	0.4%	0.9%
Net margin	−5.9%	−2.4%	−16.7%	−10.4%	−8.1%	−4.7%	−0.0%	0.6%
Free-cash-flow margin	—	—	—	−4.8%	−5.2%	−0.2%	2.9%	1.6%
Return on equity	—	—	−116.0%	−55.0%	−74.9%	−99.7%	−0.5%	12.7%
Return on assets	—	−6.8%	−40.3%	−23.6%	−24.2%	−18.6%	−0.1%	2.4%
Asset turnover	—	2.83	2.41	2.27	2.98	3.94	4.27	4.18
Current ratio	—	1.72	3.31	2.37	1.84	1.88	1.71	1.71
Debt to equity	—	489.7%	50.4%	69.3%	105.1%	330.5%	184.1%	119.1%
Interest cover (operating income ÷ interest)	n/m	n/m	n/m	n/m	n/m	n/m	0.9x	2.6x
Effective tax rate	—	—	—	—	—	—	—	−7.3%
SG&A as % of revenue	14.5%	16.3%	24.9%	20.6%	16.9%	13.7%	11.2%	10.4%
Capital spending as % of revenue	—	—	—	1.7%	2.0%	1.5%	0.7%	0.6%
Free cash flow ÷ net income	—	—	—	—	—	—	—	266.4%

US$ thousands unless shown otherwise. Fiscal quarters.

Alignment Healthcare, Inc.: financial ratios, quarterly
Quarter	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026	2026 Q3Sept 2026
Operating margin	−3.2%	−0.6%	2.2%	0.8%	−1.0%	1.3%	3.2%	−0.3%
Net margin	−4.4%	−1.0%	1.5%	0.4%	−1.1%	0.9%	2.7%	−0.6%
Free-cash-flow margin	−2.6%	0.9%	2.1%	14.0%	−5.5%	9.8%	−2.1%	2.8%
Current ratio	1.88	1.69	1.66	1.61	1.71	1.58	1.70	1.71
Debt to equity	321.9%	297.7%	228.6%	199.4%	180.3%	156.4%	122.2%	117.1%
SG&A as % of revenue	14.6%	11.2%	10.2%	11.1%	12.4%	9.8%	9.8%	10.0%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from Alignment Healthcare, Inc.'s SEC filings (10-K and 10-Q), retrieved October 30, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Alignment Healthcare, Inc.