Alignment Healthcare vs Hims & Hers Health
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KIRAβs take AI analyst
I put Alignment Healthcare and Hims & Hers Health side by side, using each oneβs latest annual report. Here is what stands out:
- Alignment Healthcare is the larger business, with $3.9B of revenue in fiscal 2025 against $2.3B for Hims & Hers Health, about 1.7 times as much.
- Hims & Hers Health grew revenue faster (59.0%, against 46.1%).
- Hims & Hers Health kept more of each dollar of sales as operating profit (4.5% operating margin, against 0.4%).
Who comes out ahead
Of the 9 measures where higher (or lower) is clearly better, how many each company leads.
Alignment Healthcare
ALHC
4/9
FCF marginPiotroski F-scoreNet debt / EBITDAShare count change
Hims & Hers Health
HIMS
5/9
Revenue growth5-year growthOperating marginNet marginReturn on equity
Side by side
Best in the row
| Latest fiscal year | ALHC FY25 | HIMS FY25 |
|---|---|---|
| Size | ||
| Market cap | $1.7B | $6.4B |
| Revenue | $3.9B | $2.3B |
| Free cash flow | $113M | $57.4M |
| Net income | β$0.7M | $128M |
| Growth | ||
| Revenue growth | 46.1% | 59.0% |
| 5-year growth | 32.7% | 73.6% |
| Share count change | 3.8% | 9.1% |
| Profitability | ||
| Gross margin | β | 73.8% |
| Operating margin | 0.4% | 4.5% |
| Net margin | β0.0% | 5.5% |
| FCF margin | 2.9% | 2.5% |
| Return on capital | β | 19.0% |
| Return on equity | β0.5% | 25.2% |
| Balance sheet | ||
| Net debt | β$281M | $395M |
| Net debt / EBITDA | β6.2x | 2.5x |
| Dividends and buybacks | $0.0M | $90.0M |
| Valuation & quality | ||
| P/E | 41.5x | β |
| Piotroski F-score | 5 | 4 |
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.

