ALIGNMENT HEALTHCARE, INC. vs Oscar Health, Inc., two Managed Care stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Both prices bet that technology-led insurance startups eventually earn like insurers, and neither income statement cooperates yet: Alignment runs a 1.3% operating margin on Medicare Advantage, Oscar a 15.2% operating margin that still nets out to a loss on individual-market plans. Oscar's 28.5% free-cash yield and Alignment's 4.6% are float, premiums ahead of claims, not distributable cash. The balance sheets split: Oscar light at 0.26 debt to equity, Alignment geared at 1.56. Neither has a usable multiple. These are venture bets wearing insurance tickers, priced on membership curves the fundamentals page cannot show; what it can show is that neither has yet turned scale into profit, and both prices assume they will.
Comparison updated 2026-07-10.
| Metric | ALHC | OSCR |
|---|---|---|
| Price | $23.15 | $29.79 |
| Market cap | $4.9B | $9.8B |
| Sector | Managed Care | Managed Care |
| Stage | Growth | Growth |
| P/B | 23.85 | 5.89 |
| P/S | 1.16 | 0.74 |
| EV/EBITDA | 68.6 | 309.2 |
| Revenue growth | +42.5% | +30.5% |
| Operating margin | 1.3% | 15.2% |
| Net margin | 0.5% | -0.3% |
| Return on equity | 9.6% | -2.4% |
| Return on assets | 1.6% | -0.4% |
| Return on invested capital | 6.7% | 0.5% |
| FCF yield | 4.6% | 28.5% |
| Debt / equity | 1.56 | 0.26 |
| Current ratio | 1.58 | 1.09 |
| Altman Z (solvency) | 5.51 | 2.14 |
| Piotroski F (quality) | 7 / 9 | 8 / 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.