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 VST $13.54 current versus $53.78 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 VST'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) · VST 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 74% equity / 26% debt · EV / Revenue 3.78x · EV / EBITDA 29.27x
VST carries the larger enterprise value at $66.97B against $2.53B; ALHC trades on the lower EV / Revenue multiple (0.64x vs 3.78x); VST on the lower EV / EBITDA (29.27x 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.
Vistra Corp. · implied price per share
Bear
$11.86
Base
$24.38
Bull
$41.28
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
3.46x
Net debt / EBITDA
Leverage against operating earnings
-5.99x
7.37x
Cash and equivalents
Liquid reserves on the balance sheet
$604.23M
$785.00M
Total debt
Interest-bearing obligations outstanding
Comparable set
Where the pair sits against the wider comparable set.
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