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Alignment Healthcare vs Humana: revenue, profit, margins and growth compared

Alignment Healthcare brought in $3.9B of revenue in fiscal 2025, Humana $129.7B in fiscal 2025. Revenue changed by +46.1% at Alignment Healthcare and +10.1% at Humana on the year before, so Alignment Healthcare grew faster. Alignment Healthcare kept -0.0% of its revenue as net profit, Humana 0.9%. Free cash flow was $113.1M at Alignment Healthcare and $375M at Humana.

Side by side, latest fiscal year

ALHCHUM
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$3.9B$129.7B
Revenue growth+46.1%+10.1%
Net income-$724K$1.2B
Net margin-0.0%0.9%
Free cash flow$113.1M$375M
Free cash flow margin2.9%0.3%
Earnings per share (diluted)$0.00$9.84
Cash$575.8M$4.2B
Debt$323.2M$12.4B
Price to earningsn/a40.4
Market value$1.7B$47.8B
Dividend yieldn/a0.89%
Rank by revenue in sector#73 of 523 · Health care#8 of 523 · Health care

Over the years

Revenue
ALHC FY2019: $757MALHC FY2021: $959.2MALHC FY2021: $1.2BALHC FY2022: $1.4BALHC FY2023: $1.8BALHC FY2024: $2.7BALHC FY2025: $3.9BHUM FY2018: $56.9BHUM FY2019: $64.9BHUM FY2020: $77.2BHUM FY2021: $83.1BHUM FY2022: $92.9BHUM FY2023: $106.4BHUM FY2024: $117.8BHUM FY2025: $129.7BFY18FY19FY20FY21FY22FY23FY24FY25
ALHC $3.9BHUM $129.7B
Net income
ALHC FY2019: -$44.7MALHC FY2021: -$22.9MALHC FY2021: -$195.3MALHC FY2022: -$149.5MALHC FY2023: -$148MALHC FY2024: -$128MALHC FY2025: -$724KHUM FY2018: $1.7BHUM FY2019: $2.7BHUM FY2020: $3.4BHUM FY2021: $2.9BHUM FY2022: $2.8BHUM FY2023: $2.5BHUM FY2024: $1.2BHUM FY2025: $1.2BFY18FY19FY20FY21FY22FY23FY24FY25
ALHC -$724KHUM $1.2B
Net margin
ALHC FY2019: -5.9%ALHC FY2021: -2.4%ALHC FY2021: -16.7%ALHC FY2022: -10.4%ALHC FY2023: -8.1%ALHC FY2024: -4.7%ALHC FY2025: -0.0%HUM FY2018: 3.0%HUM FY2019: 4.2%HUM FY2020: 4.4%HUM FY2021: 3.5%HUM FY2022: 3.0%HUM FY2023: 2.3%HUM FY2024: 1.0%HUM FY2025: 0.9%FY18FY19FY20FY21FY22FY23FY24FY25
ALHC -0.0%HUM 0.9%
Revenue growth
ALHC FY2021: +26.7%ALHC FY2021: +21.7%ALHC FY2022: +22.8%ALHC FY2023: +27.2%ALHC FY2024: +48.3%ALHC FY2025: +46.1%HUM FY2019: +14.0%HUM FY2020: +18.9%HUM FY2021: +7.7%HUM FY2022: +11.8%HUM FY2023: +14.5%HUM FY2024: +10.7%HUM FY2025: +10.1%FY19FY20FY21FY22FY23FY24FY25
ALHC +46.1%HUM +10.1%
Free cash flow
ALHC FY2022: -$69.2MALHC FY2023: -$95.2MALHC FY2024: -$6.6MALHC FY2025: $113.1MHUM FY2018: $1.6BHUM FY2019: $4.5BHUM FY2020: $4.7BHUM FY2021: $920MHUM FY2022: $3.5BHUM FY2023: $3BHUM FY2024: $2.4BHUM FY2025: $375MFY18FY19FY20FY21FY22FY23FY24FY25
ALHC $113.1MHUM $375M

Fiscal years as each company reports them; the two may end in different months.

Questions about Alignment Healthcare and Humana

Which is bigger by revenue, Alignment Healthcare or Humana?

Humana is bigger by revenue: $129.7B in fiscal 2025, against $3.9B for Alignment Healthcare in fiscal 2025.

Which keeps more of its revenue as profit, Alignment Healthcare or Humana?

Alignment Healthcare had a net margin of -0.0% in fiscal 2025; Humana had 0.9% in fiscal 2025.

Which grew revenue faster, Alignment Healthcare or Humana?

In their latest fiscal years revenue changed by +46.1% at Alignment Healthcare and +10.1% at Humana.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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