Alignment Healthcare, Inc. Stock Research

Market Summary

USD6.01-0.07

Delayed

-1.15%

ALHC Alerts

1 major insider buys recently.
Losses in recent quarter

ALHC Stock Price

ALHC RSI Chart

ALHC Valuation

Market Cap

1.1B

Price/Earnings (Trailing)

-7.53

Price/Sales (Trailing)

0.78

EV/EBITDA

-6.31

Price/Free Cashflow

-24.78

ALHC Price/Sales (Trailing)

ALHC Profitability

EBT Margin

-10.41%

Return on Equity

-62.8%

Return on Assets

-23.59%

Free Cashflow Yield

-4.04%

ALHC Fundamentals

ALHC Revenue

Revenue (TTM)

1.4B

Revenue Y/Y

21.3%

Revenue Q/Q

0.41%

ALHC Earnings

Earnings (TTM)

-149.5M

Earnings Y/Y

-18.96%

Earnings Q/Q

-41.38%

Price Action

52 Week Range

5.7619.17

(Low)(High)

Last 7 days

-11.6%

Last 30 days

-45.0%

Last 90 days

-47.2%

Trailing 12 Months

-30.0%

ALHC Financial Health

Current Ratio

2.37

Debt/Equity

0.57

Debt/Cashflow

0.48

ALHC Investor Care

Shares Dilution (1Y)

0.05%

Diluted EPS (TTM)

-0.83

Financials for Alignment Healthcare

Income Statement (Last 12 Months)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	4.6%	1,434,159,000	1,370,622,000	1,303,740,000	1,246,217,000	1,167,773,000
Operating Expenses	4.8%	1,562,798,000	1,490,621,000	1,431,779,000	1,408,100,000	1,345,845,000
S&GA Expenses	1.8%	295,646,000	290,499,000	290,893,000	300,370,000	290,991,000
EBITDA	-7.5%	-113,525,000	-105,585,000	-111,888,000	-145,503,000	-
EBITDA Margin	-2.8%	-0.08	-0.08	-0.09	-0.12	-
Earnings Before Taxes	-6.4%	-149,300,000	-140,311,000	-146,047,000	-179,229,000	-195,286,000
EBT Margin	-1.7%	-0.10	-0.10	-0.11	-0.14	-
Interest Expenses	1.9%	18,289,000	17,948,000	17,757,000	17,596,000	17,443,000
Net Income	-6.5%	-149,547,000	-140,478,000	-146,047,000	-179,229,000	-195,286,000
Net Income Margin	-1.7%	-0.10	-0.10	-0.11	-0.14	-
Free Cahsflow	-161.6%	-45,427,000	73,702,000	-18,504,000	-54,180,333	-

* denotes actual numbers (not divided by Millions)
Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	-18.5%	634	778	667	647	631
Current Assets	-21.3%	545	692	586	566	553
Cash Equivalents	-27.8%	410	567	453	449	467
Net PPE	4.5%	37.00	36.00	33.00	32.00	30.00
Goodwill	0%	31.00	31.00	29.00	-	-
Liabilities	-21.9%	395	505	373	353	325
Current Liabilities	-32.4%	230	340	214	195	167
Long Term Debt	1.1%	154	152	151	-	-
LT Debt, Current	NaN%	-	-	-	-	-
LT Debt, Non Current	0.1%	161	161	154	152	151
Shareholder's Equity	-12.5%	238	272	294	293	306
Retained Earnings	-8.4%	-732	-675	-635	-623	-582
Additional Paid-In Capital	2.4%	970	947	929	917	889
Accumulated Depreciation	4.5%	96.00	92.00	88.00	-	-
Shares Outstanding	0.0%	187	187	187	187	187
Minority Interest	Infinity%	1.00	-	-	0.00	0.00

* denotes actual numbers (not divided by Millions)
Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	-161.6%	-45.43	74.00	-18.50	-52.31	-78.78
Share Based Compensation	-6.8%	82.00	88.00	99.00	118	122
Cashflow From Investing	-22.4%	-28.22	-23.06	-21.93	-22.50	-20.81
Cashflow From Financing	-3.1%	17.00	17.00	-0.10	-3.53	360
Buy Backs	NaN%	0.00	0.00	0.00	0.00	1.00

Risks for ALHC

What is the probability of a big loss on ALHC?

93.3%

Probability that Alignment Healthcare stock will be more than 20% underwater in next one year

79.8%

Probability that Alignment Healthcare stock will be more than 30% underwater in next one year.

57.7%

Probability that Alignment Healthcare stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does ALHC drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Alignment Healthcare was unfortunately bought at previous high price.

Drawdowns

Returns for ALHC

Cumulative Returns on ALHC

Which funds bought or sold ALHC recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	added	74.58	232,862	550,862	-%
2023-02-28	Voya Investment Management LLC	added	720	2,764,000	3,150,000	-%
2023-02-21	MACQUARIE GROUP LTD	reduced	-42.17	-1,978,000	2,669,000	-%
2023-02-17	Coppell Advisory Solutions Corp.	new	-	706	706	-%
2023-02-15	Metropolitan Life Insurance Co/NY	added	12.11	7,724	72,724	-%
2023-02-15	ALLIANCEBERNSTEIN L.P.	reduced	-55.88	-2,324,470	1,813,530	-%
2023-02-15	MetLife Investment Management, LLC	added	14.15	72,683	616,683	-%
2023-02-15	State of Wyoming	reduced	-5.1	-6,194	103,806	0.04%
2023-02-15	JANE STREET GROUP, LLC	reduced	-22.76	-517,329	1,704,670	-%
2023-02-15	Regal Partners Ltd	sold off	-100	-187,000	-	-%

Latest Funds Activity

Are funds buying ALHC calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own ALHC

No. of Funds

Alignment Healthcare News

Schedule 13G FIlings of Alignment Healthcare

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 13, 2023	general atlantic, l.p.	32.6%	60,993,323	SC 13G/A
Feb 09, 2023	fmr llc	-	0	SC 13G/A
Feb 14, 2022	warburg pincus private equity xii, l.p.	7.8%	14,665,604	SC 13G
Feb 11, 2022	general atlantic, l.p.	37.4%	70,069,317	SC 13G
Feb 09, 2022	fmr llc	-	0	SC 13G

ALHC Fair Value

Alignment Healthcare fair value in different scenarios

The table shows the Fair Value estimates for Alignment Healthcare for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	1.13 -81.20%	2.14 -64.39%	3.92 -34.78%	6.25 3.99%	8.65 43.93%
Current Inflation	1.06 -82.36%	1.97 -67.22%	3.53 -41.26%	5.55 -7.65%	7.63 26.96%
Very High Inflation	0.97 -83.86%	1.76 -70.72%	3.06 -49.08%	4.73 -21.30%	6.43 6.99%

Historical Alignment Healthcare Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Alignment Healthcare

View All Filings

Date Filed	Form Type	Document
Mar 15, 2023	4	Insider Trading
Mar 15, 2023	4	Insider Trading
Mar 15, 2023	4	Insider Trading
Mar 15, 2023	4	Insider Trading
Mar 15, 2023	4	Insider Trading
Mar 10, 2023	4	Insider Trading
Mar 10, 2023	4	Insider Trading
Mar 10, 2023	4	Insider Trading
Mar 10, 2023	4	Insider Trading
Mar 10, 2023	4	Insider Trading

Latest Insider Trading transactions for ALHC

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-03-14	Freeman Robert Thomas	sold	-85,224	6.327	-13,470	chief financial officer
2023-03-14	Maroney Dawn Christine	sold	-126,578	6.327	-20,006	president, markets
2023-03-14	KAO JOHN E	sold	-247,392	6.327	-39,101	chief executive officer
2023-03-14	Maroney Dawn Christine	gifted	-	-	-2,400	president, markets
2023-03-14	Kumar Dinesh M.	sold	-89,615	6.327	-14,164	chief med & operating officer
2023-03-14	Cross Richard A.	sold	-34,899	6.327	-5,516	svp, general counsel
2023-03-09	KONOWIECKI JOSEPH S	bought	661,610	6.6161	100,000	chairman of the board
2023-03-08	KOSECOFF JACQUELINE B	acquired	-	-	29,070	-
2023-03-08	McCarthy Margaret M	acquired	-	-	21,802	-
2023-03-08	BILNEY JODY L	acquired	-	-	29,070	-

About Alignment Healthcare

John E. Kao

www.alignmenthealthcare.com

850

Alignment Healthcare, Inc., a tech-enabled Medicare advantage company, operates consumer-centric health care platform. It provides customized health care in the United States to seniors and those who need it through its Medicare advantage plans. The company owns Medicare advantage plans in the states of California, North Carolina, and Nevada. It also coordinates and provides covered health care services, including professional, institutional, and ancillary services to members enrolled in certain benefit plans of unaffiliated Medicare Advantage Health Maintenance Organizations. The company was founded in 2013 and is based in Orange, California.

ALHC Income Statement

2022-12-31

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues:
Earned premiums	$ 1,431,550	$ 1,167,085	$ 955,393
Other	2,609	688	3,829
Total revenues	$ 1,434,159	$ 1,167,773	$ 959,222
Revenue, Product and Service [Extensible List]	us-gaap:FinancialServiceMember	us-gaap:FinancialServiceMember	us-gaap:FinancialServiceMember
Expenses:
Medical expenses	$ 1,249,879	$ 1,039,041	$ 792,992
Selling, general, and administrative expenses	295,646	290,991	156,398
Depreciation and amortization	17,273	15,813	15,095
Total expenses	1,562,798	1,345,845	964,485
Loss from operations	(128,639)	(178,072)	(5,263)
Other expenses:
Interest expense	18,289	17,443	16,931
Other expenses (income)	176	(229)	732
Loss on extinguishment of debt	2,196	0	0
Total other expenses	20,661	17,214	17,663
Loss before income taxes	(149,300)	(195,286)	(22,926)
Provision for income taxes	339	0	0
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Total	(149,639)	(195,286)	(22,926)
Less: Net loss attributable to noncontrolling interest	92	0	0
Net loss attributable to Alignment Healthcare, Inc.	$ (149,547)	$ (195,286)	$ (22,926)
Total weighted-average common shares outstanding - basic and diluted	181,212,757	171,956,849	152,132,299
Net loss per share attributable to Alignment Healthcare, Inc. - basic	$ (0.83)	$ (1.14)	$ (0.15)
Net loss per share attributable to Alignment Healthcare, Inc. - diluted	$ (0.83)	$ (1.14)	$ (0.15)

ALHC Balance Sheet

2022-12-31

Consolidated Balance Sheets - USD ($)
$ in Thousands

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Current Assets:

Cash

$ 409,549

$ 466,600

Accounts receivable (less allowance for credit losses of $0 at December 31, 2022 and $111 at December 31, 2021, respectively)

92,890

58,512

Prepaid expenses and other current assets

42,107

27,747

Total current assets

544,546

552,859

Property and equipment, net

37,169

30,358

Right of use asset, net

5,825

7,853

Goodwill and intangible assets, net

40,288

35,116

Other assets

6,035

4,709

Total assets

633,863

630,895

Current Liabilities:

Medical expenses payable

170,135

125,886

Accounts payable and accrued expenses

32,288

17,431

Accrued compensation

27,538

23,928

Total current liabilities

229,961

167,245

Long-term debt, net of debt issuance costs

160,902

150,620

Long-term portion of lease liabilities

3,698

6,975

Total liabilities

394,561

324,840

Commitments and Contingencies (Note 12)

Stockholders' Equity:

Preferred stock, $.001 par value; 100,000,000 and 100,000,000 shares authorized as of December 31, 2022 and December 31, 2021, respectively; no shares issued and outstanding as of December 31, 2022 and December 31, 2021

Common stock, $.001 par value; 1,000,000,000 shares authorized as of December 31, 2022 and December 31, 2021; 187,280,015 and 187,193,613 shares issued and outstanding as of December 31, 2022 and December 31, 2021, respectively

187

Additional paid-in capital

970,180

888,547

Accumulated deficit

(732,241)

(582,694)

Total Alignment Healthcare, Inc. stockholders' equity

238,126

306,040

Noncontrolling interest

1,176

Total stockholders' equity

239,302

306,055

$ 30,611

^[1]

Total liabilities and stockholders' equity

$ 633,863

$ 630,895

[1]

(1) The consolidated balances were derived from the audited consolidated financial statements as of December 31, 2020 and December 31, 2019, and were retroactively adjusted, including shares and per share amounts, as a result of the Reorganization. See Note 1 to the consolidated financial statements for additional details.