Alignment Healthcare (ALHC) Operating Margin (2020 - 2026)
Alignment Healthcare's (ALHC) quarterly Operating Margin came in at 3.15% in Q2 2026, up 91.0% YoY from 1.65% in Q2 2025, and up 151.14% on a QoQ basis from 1.26% in Q1 2026.
Alignment Healthcare (ALHC) Operating Margin (2020 - 2026) Analysis & Trends
Alignment Healthcare (ALHC) has 7 years of Operating Margin data on file, last reported at 3.15% in Q2 2026.
- Quarterly Operating Margin rose 91.0% year-over-year to 3.15% in Q2 2026, while the trailing twelve-month figure through Jun 2026 was 1.2% (up 194.0% YoY) and the FY2025 annual result came in at 0.37%, up 413.0% from the prior year.
- Operating Margin grew to 3.15% in Q2 2026, from 1.26% in the prior quarter.
- In the past five years, Operating Margin ranged from a high of 3.15% in Q2 2026 to a low of 14.4% in Q4 2022.
- A 5-year average of 4.08% and a median of 3.02% in 2024 frame the typical range for Operating Margin.
- Annual changes were most pronounced in 2022 — Operating Margin surged 1129 bps — and 2023, when it plunged 330 bps.
- Tracing ALHC's Operating Margin over 5 years: stood at 14.4% in 2022, then surged by 37 bps to 9.01% in 2023, then surged by 64 bps to 3.22% in 2024, then jumped by 68 bps to 1.02% in 2025, then soared by 410 bps to 3.15% in 2026.
- The last three Operating Margin figures came in at 3.15% (Q2 2026), 1.26% (Q1 2026), and 1.02% (Q4 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Unitedhealth | 346.93 Bn | 315.46 Bn | 36.67 Bn | 7.13% |
| 2 | Cvs Health | 119.91 Bn | 105.95 Bn | 47.23 Bn | 4.43% |
| 3 | Elevance Health | 86.25 Bn | 50.30 Bn | 13.45 Bn | 1.39% |
| 4 | Humana | 45.69 Bn | 21.82 Bn | 5.50 Bn | 3.33% |
| 5 | Centene | 31.66 Bn | 4.60 Bn | 14.55 Bn | 2.24% |
| 6 | Molina Healthcare | 10.12 Bn | 1.21 Bn | 1.43 Bn | 1.33% |
| 7 | Oscar Health | 9.48 Bn | 922.10 Mn | 1.09 Bn | 7.96% |
| 8 | Alignment Healthcare | 2.69 Bn | 1.99 Bn | 180.96 Mn | 3.15% |
| 9 | Clover Health Investments | 2.16 Bn | 1.92 Bn | 153.00 Mn | 3.77% |
| 10 | Progyny | 2.03 Bn | 1.79 Bn | 89.30 Mn | 11.41% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 3.15% |
| Mar 31, 2026 | 1.26% |
| Dec 31, 2025 | -1.02% |
| Sep 30, 2025 | 0.77% |
| Jun 30, 2025 | 2.24% |
| Mar 31, 2025 | -0.58% |
| Dec 31, 2024 | -3.22% |
| Sep 30, 2024 | -2.82% |
| Jun 30, 2024 | -2.70% |
| Mar 31, 2024 | -6.54% |
| Dec 31, 2023 | -9.13% |
| Sep 30, 2023 | -6.52% |
| Jun 30, 2023 | -5.12% |
| Mar 31, 2023 | -7.47% |
| Dec 31, 2022 | -14.37% |
| Sep 30, 2022 | -9.28% |
| Jun 30, 2022 | -1.82% |
| Mar 31, 2022 | -10.56% |
| Dec 31, 2021 | -14.58% |
| Sep 30, 2021 | -14.12% |