Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
The zones of discrimination for M-Score is as such:
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
Good Sign:
Beneish M-Score -3.02 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Alignment Healthcare's Beneish M-Score or its related term are showing as below:
ALHC'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.89 Med: -2.91 Max: -1.57
Current: -3.02
During the past 7 years, the highest Beneish M-Score of Alignment Healthcare was -1.57. The lowest was -3.89. And the median was -2.91.
Alignment Healthcare Beneish M-Score Related Terms
Alignment Healthcare Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Alignment Healthcare's Beneish M-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
ALHC vs PGNY, CLOV, PFHO: Beneish M-Score Comparison
For the Healthcare Plans subindustry, Alignment Healthcare's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Alignment Healthcare Beneish M-Score vs Healthcare Plans Industry
For the Healthcare Plans industry and Healthcare sector, Alignment Healthcare's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Alignment Healthcare's Beneish M-Score falls into.
The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.
The M-Score Variables:
The M-score of Alignment Healthcare for today is based on a combination of the following eight different indices:
M
=
-4.84
+
0.92 * DSRI
+
0.528 * GMI
+
0.404 * AQI
+
0.892 * SGI
+
0.115 * DEPI
=
-4.84
+
0.92 * 0.7648
+
0.528 * 0.9672
+
0.404 * 0.8211
+
0.892 * 1.3721
+
0.115 * 0.914
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.8876
+
4.679 * -0.128887
-
0.327 * 0.9228
=
-3.02
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.
DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.
DEPI
=
(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1))
/
(Depreciation_t / (Depreciaton_t + PPE_t))
=
(29.157 / (29.157 + 77.102))
/
(31.538 / (31.538 + 73.515))
=
0.274396
/
0.30021
=
0.914
Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.
6. SGAI = Sales, General and Administrative expenses Index
Total accruals calculated as the change in working capital accounts other than cash less depreciation.
TATA
=
(IncomefromContinuingOperations_t
-
CashFlowsfromOperations_t)
/
TotalAssets_t
=
(NetIncome_t - NonOperatingIncome_t
-
CashFlowsfromOperations_t)
/
TotalAssets_t
=
(40.699 - 0.001
-
205.549)
/
1279.038
=
-0.128887
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
Alignment Healthcare has a M-score of -3.02 suggests that the company is unlikely to be a manipulator.
Alignment Healthcare (ALHC) has a Beneish M-Score of -3.02 as of Aug. 02, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Alignment Healthcare and its competitors. According to the industry distribution chart, Alignment Healthcare ranks #6 out of 18 companies in the Healthcare Plans industry, placing it in the top 33.3%.
Is Alignment Healthcare's Beneish M-Score too high?
Alignment Healthcare's current Beneish M-Score is -3.02. Based on the distribution chart, Alignment Healthcare ranks #6 out of 18 companies in the Healthcare Plans industry, which is above the industry midpoint. Overall, Alignment Healthcare has a GF Score™ of 79/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Alignment Healthcare's Beneish M-Score compare to PGNY and CLOV?
According to the Healthcare Plans industry distribution chart, Alignment Healthcare ranks #6 out of 18 companies for Beneish M-Score. This puts Alignment Healthcare in the upper half of its industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Beneish M-Score for a Healthcare Plans company?
A good Beneish M-Score depends on the Healthcare Plans industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Beneish M-Score mean?
A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Alignment Healthcare and its competitors. Alignment Healthcare's current Beneish M-Score is -3.02. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Alignment Healthcare stock overvalued right now?
Based on GuruFocus' analysis, Alignment Healthcare (ALHC) is currently considered Modestly Undervalued. The stock's GF Value™ is $20.32, compared to a current price of $14.84 — trading 27% below its estimated fair value. The current Beneish M-Score is -3.02. Alignment Healthcare's overall GF Score™ is 79/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Beneish M-Score calculated?
Beneish M-Score is calculated from a company's financial statements. For Alignment Healthcare (ALHC), the current Beneish M-Score is -3.02 as of Aug. 02, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Alignment Healthcare (ALHC) Overvalued in 2026?
Based on GuruFocus' analysis, Alignment Healthcare stock appears to be undervalued.
The current stock price of $14.84 is trading 27% below its estimated GF Value™ of $20.32.
GuruFocus considers Alignment Healthcare to be Modestly Undervalued.
Key valuation signals for ALHC:
Beneish M-Score: -3.02
GF Value™: $20.32 vs. price of $14.84 (27% below fair value)
No single metric tells the full story. See the ALHC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Alignment Healthcare Inc is a next-generation, consumer-centric platform that is revolutionizing the healthcare experience for seniors through Medicare Advantage plans. These plans are marketed and sold direct-to-consumer, allowing seniors to select the manner in which customers receive healthcare coverage and services on an annual basis. The company combines a technology platform and clinical model for more effective health outcomes.
79GF Score
Get the complete analysis for ALHC
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
ALHC has been successfully added to your 
