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Alignment Healthcare vs Trupanion: ALHC and TRUP compared
Alignment Healthcare is the larger company: $1.4B of revenue in its latest quarter (Q3 2026) against $406M for Trupanion (Q3 2026). Alignment Healthcare is growing faster (+37% against +10% a year earlier). Trupanion is more profitable, with an operating margin of 2.4% against -0.3%.
Where the money goes: ALHC and TRUP
Alignment Healthcare (ALHC) · Q3 2026
Alignment Healthcare, Q3 2026: revenue $1.4B (+37% year over year), operating margin -0.3%, net loss $8.1M, operating cash flow $47.0M. The chart follows the revenue to costs, profit and cash.
Trupanion (TRUP) · Q3 2026
Trupanion, Q3 2026: revenue $406M (+10% year over year), operating margin 2.4%, net earnings $9.3M, operating cash flow $30.7M. The chart follows the revenue to costs, profit and cash.
| Alignment Healthcare (ALHC) | Trupanion (TRUP) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $1.4B | $406M |
| Revenue growth, Y/Y | +37% | +10% |
| Operating margin | -0.3% | 2.4% |
| Net earnings | −$8.1M | $9.3M |
| Net margin | -0.6% | 2.3% |
| Operating cash flow | $47.0M | $30.7M |
| Free cash flow | $38.6M | $28.5M |
| Market value | $1.5B | $1.6B |
| P/E | 51.9× | 60.4× |
| Analysts’ mean target | $10.79 | $35.50 |
Where the revenue comes from
Trupanion
- Subscription business: $288M (71%)
- Other Segments: $118M (29%)
Questions
Which is bigger, Alignment Healthcare or Trupanion?
Alignment Healthcare is the larger company: $1.4B of revenue in its latest quarter (Q3 2026) against $406M for Trupanion (Q3 2026).
Is Alignment Healthcare or Trupanion growing faster?
Alignment Healthcare is growing faster (+37% against +10% a year earlier).
Which is more profitable, Alignment Healthcare or Trupanion?
Trupanion is more profitable, with an operating margin of 2.4% against -0.3%.
More: Alignment Healthcare earnings · how Alignment Healthcare makes money · Trupanion earnings · how Trupanion makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 29, 2026; 10-Q filed Nov 5, 2026). Fiscal quarters can end on different dates. Not investment advice.