What is Alignment Healthcare's return on invested capital?

Alignment Healthcare (ALHC) reported return on invested capital of -449.2% in Q1 2024.

What does return on invested capital mean?

Net operating profit after tax (operating income taxed at the effective rate) divided by average invested capital (debt plus equity minus cash). Measures the after-tax return on all capital put to work in the business, independent of capital structure.

Alignment Healthcare ALHC Return on invested capital

Return on invested capital at other companies

HumanaHUM

15.9%-9.7pp

CVS HealthCVS

7.1%-1.2pp

UnitedHealth GroupUNH

12.3%-6.5pp

Elevance HealthELV

11.8%+0.5pp

Clover Health InvestmentsCLOV

-44.6%+18.1pp

Agilon HealthAGL

-214.8%-351pp

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$4.48B+0.8%

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

Calculated from Alignment Healthcare’s reported figures.

nopat/invested capital=-449.2%

Based on trailing twelve months.

The official record: Alignment Healthcare’s 10-Q, filed May 1, 2025, on SEC EDGAR. View the filing →

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Questions, answered.

What is Alignment Healthcare's return on invested capital?: Alignment Healthcare (ALHC) reported return on invested capital of -449.2% in Q1 2024.
What does return on invested capital mean?: Net operating profit after tax (operating income taxed at the effective rate) divided by average invested capital (debt plus equity minus cash). Measures the after-tax return on all capital put to work in the business, independent of capital structure.