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 53.98x
Compare price, profitability, solvency, and SEC-reported financials side by side—before deciding which assumptions deserve a closer look.
Decision snapshot: ALHC stock price at discount vs ON $13.56 current versus $91.97 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 ON'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) · ON 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 53.98x
Capital structure 100% equity / 0% debt · EV / Revenue 4.41x · EV / EBITDA 33.86x
ON carries the larger enterprise value at $26.42B against $2.53B; ALHC trades on the lower EV / Revenue multiple (0.64x vs 4.41x); ON on the lower EV / EBITDA (33.86x vs 53.98x).
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.
ON SEMICONDUCTOR CORPORATION · implied price per share
Bear
$43.50
Base
$50.83
Bull
$60.71
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
0.00x
Net debt / EBITDA
Leverage against operating earnings
-5.99x
-3.26x
Cash and equivalents
Liquid reserves on the balance sheet
$604.23M
$2.55B
Total debt
Interest-bearing obligations outstanding
Comparable set
Where the pair sits against the wider comparable set.
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