ALIGNMENT HEALTHCARE, INC. vs MOLINA HEALTHCARE, INC., two Managed Care stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Alignment Healthcare carries 1.56 turns of debt against equity, a Medicare Advantage startup financed for growth; Molina carries 0.92 running Medicaid at fifty times the scale. Neither earns much yet: operating margins of 1.3% and 0.8%, net margins under half a percent, no meaningful multiples this year. What distinguishes them is direction and clientele: Alignment is building senior-focused MA membership with returns on equity of 9.6% against Molina's 4.6%, while Molina defends established state contracts through a rate-reset squeeze. Both free-cash figures carry the insurance-float caveat. This pair prices two versions of thin-margin government healthcare, one climbing toward profitability, one climbing back to it.
Comparison updated 2026-07-10.
| Metric | ALHC | MOH |
|---|---|---|
| Price | $23.15 | $229.88 |
| Market cap | $4.9B | $11.7B |
| Sector | Managed Care | Managed Care |
| Stage | Growth | Mature |
| P/B | 23.85 | 2.87 |
| P/S | 1.16 | 0.26 |
| EV/EBITDA | 68.6 | 16.5 |
| Revenue growth | +42.5% | +8.0% |
| Operating margin | 1.3% | 0.8% |
| Net margin | 0.5% | 0.4% |
| Return on equity | 9.6% | 4.6% |
| Return on assets | 1.6% | 1.1% |
| Return on invested capital | 6.7% | 2.6% |
| FCF yield | 4.6% | 2.1% |
| Debt / equity | 1.56 | 0.92 |
| Current ratio | 1.58 | 1.63 |
| Altman Z (solvency) | 5.51 | 4.02 |
| Piotroski F (quality) | 7 / 9 | 7 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.