Alignment Healthcare vs BrightSpring Health Services
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KIRA’s take AI analyst
I put Alignment Healthcare and BrightSpring Health Services side by side, using each one’s latest annual report. Here is what stands out:
- BrightSpring Health Services is the larger business, with $12.9B of revenue in fiscal 2025 against $3.9B for Alignment Healthcare, about 3.3 times as much.
- Alignment Healthcare grew revenue faster (46.1%, against 28.2%).
- BrightSpring Health Services kept more of each dollar of sales as operating profit (2.3% operating margin, against 0.4%).
- Investors pay more for each dollar of Alignment Healthcare’s earnings: a P/E of 41.5x against 35.5x for BrightSpring Health Services.
Who comes out ahead
Of the 8 measures where higher (or lower) is clearly better, how many each company leads.
Alignment Healthcare
ALHC
3/8
Revenue growthNet debt / EBITDAShare count change
BrightSpring Health Services
BTSG
5/8
Operating marginNet marginFCF marginReturn on equityPiotroski F-score
Side by side
Best in the row
| Latest fiscal year | ALHC FY25 | BTSG FY25 |
|---|---|---|
| Size | ||
| Market cap | $1.7B | $13.0B |
| Revenue | $3.9B | $12.9B |
| Free cash flow | $113M | $395M |
| Net income | −$0.7M | $191M |
| Growth | ||
| Revenue growth | 46.1% | 28.2% |
| 5-year growth | 32.7% | — |
| Share count change | 3.8% | 13.9% |
| Profitability | ||
| Gross margin | — | 11.8% |
| Operating margin | 0.4% | 2.3% |
| Net margin | −0.0% | 1.5% |
| FCF margin | 2.9% | 3.1% |
| Return on capital | — | 5.3% |
| Return on equity | −0.5% | 10.8% |
| Balance sheet | ||
| Net debt | −$281M | $2.4B |
| Net debt / EBITDA | −6.2x | 5.3x |
| Dividends and buybacks | $0.0M | $43.2M |
| Valuation & quality | ||
| P/E | 41.5x | 35.5x |
| Piotroski F-score | 5 | 7 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.