Alignment Healthcare, Inc.
$2.53B- Market cap
- $2.81B
- Debt
- +$323.18M
- Cash
- −$604.23M
Capital structure 90% equity / 10% debt · EV / Revenue 0.64x · EV / EBITDA 53.89x
Compare price, profitability, solvency, and SEC-reported financials side by side—before deciding which assumptions deserve a closer look.
FY 2025 ·
Decision snapshot: ALHC stock price at discount vs NNN $13.54 current versus $176.05 implied using P/S multiple.
Quick read
Each company valued on the other's multiple, then compared with the market price.
Implied fair value · at NNN's multiple
Implied fair value · at ALHC's multiple
Snapshot Sep 4, 4:00 PM ET
Metric by metric
Where each company leads, and how wide the gap is.
Growth edge
Pricing power
Operating leverage
Multiple discount
Not comparable
Lower leverage
Statements
Core statements aligned to each company's latest fiscal year.
SEC periods: ALHC FY 2025 (ended Dec 31, 2025) · NNN FY 2025 (ended Dec 31, 2025).
Trendline
Six fiscal years of revenue, earnings, and margins before underwriting a re-rating.
Price framework
Market cap plus debt, less cash.
Capital structure 90% equity / 10% debt · EV / Revenue 0.64x · EV / EBITDA 53.89x
Capital structure 63% equity / 37% debt · EV / Revenue 14.61x · EV / EBITDA 17.26x
NNN carries the larger enterprise value at $13.53B against $2.53B; ALHC trades on the lower EV / Revenue multiple (0.64x vs 14.61x); NNN on the lower EV / EBITDA (17.26x vs 53.89x).
Price framework
The same filing-backed model used on each company's valuation page, with company-specific inputs and calculated scenarios.
ALIGNMENT HEALTHCARE, INC. · implied price per share
Five annual free-cash-flow observations are required for the filing-backed baseline.
NNN REIT, INC. · implied price per share
Five annual free-cash-flow observations are required for the filing-backed baseline.
Balance sheet health
Financial health checks to separate durable balance sheets from potential value traps.
Financial strength on a 0–9 scale.
Bankruptcy-risk signal from balance sheet and earnings power.
Debt / equity
Total debt against shareholders' equity
1.80x
1.13x
Net debt / EBITDA
Leverage against operating earnings
-5.99x
6.33x
Cash and equivalents
Liquid reserves on the balance sheet
$604.23M
$5.05M
Total debt
Interest-bearing obligations outstanding
Comparable set
Where the pair sits against the wider comparable set.
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