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Alignment Healthcare ALHC Capitation — Earned premiums

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Premium
$1.23B+33.8%

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Other financials

Income statement

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Revenue$1.2B+33.3%
Operating income$15.5M+387%
Net income$11.4M+225%
EPS (diluted)$0.05+200%

Balance sheet

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Cash & equivalents$707.7M+57.9%
Total debt$323.6M+0.5%
Total equity$206.9M+91.3%
Total assets$1.3B+40.9%

Cash flow

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Operating cash flow$128.7M+674%
CapEx$7.4M-10.8%
Free cash flow$121.3M+1,350%

Valuation

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Market cap$2.78B+2.2%
Enterprise value$2.39B-6.8%
P/E140.1×
P/S0.7×-0.2×

Profitability

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Operating margin0.1%0.0pp
Net margin0.5%+0.2pp
FCF margin4.1%

Returns & leverage

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Return on equity12.6%+6.8pp
Debt / equity1.6×-1.4×
Current ratio1.6×-0.1×

Where this comes from

Reported directly by Alignment Healthcare in its filing.

Tagged under the XBRL concept us-gaap:PremiumsEarnedNet.

The source filing: Alignment Healthcare’s 10-Q, filed April 30, 2026.

Filed
Apr 30, 2026, 4:14 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001628280-26-028901
Line itemThree Months Ended March 31, 20262025
Premium$1,226,308$916,622
Capitation2581,421
Total$1,226,566$918,043

Item 1. Financial Statements (Unaudited):

FAQ

What is Alignment Healthcare's capitation — earned premiums?
Alignment Healthcare (ALHC) reported capitation — earned premiums of $258K in Q1 2026.
How has Alignment Healthcare's capitation — earned premiums changed year-over-year?
Alignment Healthcare's capitation — earned premiums decreased by 81.8% year-over-year, from $1.42M to $258K.
What is the long-term trend for Alignment Healthcare's capitation — earned premiums?
Over 3 years (2022 to 2025), Alignment Healthcare's capitation — earned premiums has grown at a -55.9% compound annual growth rate (CAGR), from $59.22M to $5.07M.
What does capitation — earned premiums mean?
This metric represents the total revenue recognized from premiums collected within the capitation segment, where the company assumes financial risk for providing healthcare services to members. It reflects the core income stream generated by Medicare Advantage plans under a fixed-fee arrangement per member. This figure serves as a primary indicator of the scale and market penetration of the company's risk-bearing insurance products.

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