Alliance Laundry Holdings Inc. (ALH)
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Alliance Laundry of Ripon, Wisconsin, has built commercial washers since 1908 and estimates it holds about 40 percent of the North American market — 2025 revenue: $1.71 billion at a roughly 26 percent adjusted EBITDA margin. The stock has traded on the NYSE since October 2025 — but the IPO tells a second story: in August 2024, private-equity owner BDT and management paid themselves a $900 million dividend funded by a $2,075 million loan, and the IPO's $505.7 million in net proceeds went almost dollar for dollar into repaying that very loan. We read the annual report (10-K), the quarterly reports (10-Q), the IPO prospectus and the proxy statement: a first-rate business, a shrinking but still heavy debt load — and a controlling owner with 71 percent and special rights. Not investment advice — just an honest accounting of how much legacy baggage a clean business can carry.
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This stock currently matches 4 of our scanner strategies — each hit links to the scanner.
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Basics
Performance
Valuation
Profitability
Balance Sheet & Safety
Growth
Quality & Screener
AI Rating
Uses AIAlliance Laundry nutzt laut Geschäftsbericht (10-K) 2025 von Dritten lizenzierte Machine-Learning- und KI-Technologien in den eigenen gewerblichen Waschsystemen (vorausschauende Wartung, Nutzungsanalytik, Systemoptimierung) und will diesen Einsatz ausdrücklich ausweiten; eine KI-Umsatzquelle weisen die Filings nicht aus, und der zugehörige Risikofaktor behandelt den KI-Einsatz als Kosten-, Compliance- und Abhängigkeitsthema (vertragliche Datennutzungs-Beschränkungen der KI-Lieferanten). Junge Filing-Historie (IPO 10.10.2025): geprüft wurden der bislang einzige 10-K (GJ 2025) und die beiden bislang einzigen 10-Q.
View the full file — quotes, sources, reviewed filings
„We currently use machine learning and AI technologies licensed from third parties to enhance our commercial laundry equipment and systems. These AI technologies, which we integrate into our products and solutions and expect to expand on, support features such as predictive maintenance, usage analytics and optimization of our laundry systems."
Wir nutzen derzeit von Dritten lizenzierte Machine-Learning- und KI-Technologien, um unsere gewerblichen Waschgeräte und -systeme zu verbessern. Diese KI-Technologien, die wir in unsere Produkte und Lösungen integrieren und deren Einsatz wir ausweiten wollen, unterstützen Funktionen wie vorausschauende Wartung, Nutzungsanalytik und die Optimierung unserer Waschsysteme.
„In some cases, we are subject to contractual limitations from our AI technology providers that restrict how we can use certain data in connection with the training and use of AI systems."
In einigen Fällen unterliegen wir vertraglichen Beschränkungen unserer KI-Technologie-Anbieter, die einschränken, wie wir bestimmte Daten im Zusammenhang mit dem Training und der Nutzung von KI-Systemen verwenden dürfen.
Filings Reviewed: 10-K 2026-03-13 · 10-Q 2026-05-12 · 10-Q 2025-11-13
Rated on July 18, 2026 · How the Rating Is Built
Quarterly Figures
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | 0.21 | – | 395 | – | 9.40 | 78 | 58 |
| 2025: Q1 | 0.10 | -49.40 | 390 | 6.90 | 4.40 | 25 | 17 |
| 2025: Q2 | 0.14 | -29.10 | 418 | 14.80 | 5.80 | 25 | 17 |
| 2025: Q3 | 0.17 | – | 438 | 13.90 | 7.50 | 66 | 53 |
| 2025: Q4 | 0.10 | -50.70 | 435 | 10.10 | 4.70 | 95 | 71 |
| 2026: Q1 | 0.28 | 184.00 | 427 | 9.60 | 13.30 | 80 | 75 |
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Assessment: Opportunities & Risks
World's largest maker of commercial laundry systems with about 40 percent North America market share, 117 years of history and five established brands; the replacement cycle of a huge installed base plus parts, service and financing delivers recurring revenue (10-K 2025, Item 1).
Revenue up 25 percent in two years to $1,709.2 million (2025), Q1 2026 up 9.6 percent; adjusted EBITDA of $436.5 million (a roughly 26 percent margin, North America at 28.5 percent), capital expenditures of only about 3 percent of revenue — $158 million of free cash flow in 2025, $74.7 million in Q1 2026.
The $2,075 million Term Loan of August 2024 funded a $900 million dividend to BDT and management (Notes 18/25); despite repayment down to $1,300 million (03/31/2026) plus $620.3 million of securitization borrowings, nearly $2 billion of debt remains against $129.3 million of cash, thin equity and a B1 rating — 2025 interest bill: $150.5 million.
BDT owns 71.0 percent, nominates the board majority and the chairman ("controlled company"); the charter opts out of Delaware takeover protection and includes a corporate-opportunity waiver; BDT served as an underwriter of its own IPO and holds a controlling stake in a vendor (Note 25) — a small free float with placement overhang, and insider sales since June 2026 (Forms 4/144).
Repayment runs faster than contractually required ($710 million in 2025, $65 million in Q1 2026), two credit-margin cuts, a Moody's upgrade to B1 (06/29/2026), net interest expense halved from $44.9 million to $17.9 million in Q1 2026 — that is what feeds the earnings jump (EPS $0.28 after $0.10). The scanner's 3 hits (FCF/market cap no. 12 U.S., EPS acceleration, Pros 80) confirm the substance thesis, not trend strength; the interest tailwind is finite.
Alliance Laundry is that rare combination of a first-rate business and a loaded past: world market leadership, 26 percent margins and strong free cash flow on one side — on the other, a debt pile that never financed a single investment but rather the former owner's $900 million dividend, an IPO whose proceeds went into repayment, and a 71 percent shareholder with special rights who even earned underwriting fees on his own offering. The deleveraging is measurable and faster than required, and earnings jump with every repaid tranche — but that tailwind is finite, and the free float stays small. Not investment advice.
- ALH reached the research list via our in-house FCF/market cap scanner (no. 12 among U.S. hits as of July 18, 2026); EPS acceleration and "Pros 80" (data as of July 8, 2026) provided the confluence — scanner compositions drift daily, and this analysis is deliberately written evergreen.
- IPO caveat: a young filing history (first listed 10/10/2025) — only one 10-K (FY 2025) and two 10-Q filings exist; comparison figures before 2023 come from the IPO prospectus (424B4). The company was named ALH Holding Inc. until July 2025 (EDGAR former names).
- Price and valuation figures dated July 8, 2026 (about $21, about $4.2 billion market value); analyses are evergreen, daily prices are not a buy argument. The trailing P/E is distorted by the 2025 interest bill; what matters are cash flow, repayment pace and the interest line.
About the Company
Alliance Laundry Holdings Inc. entwirft, fertigt und verkauft gewerbliche Wäschereisysteme in den USA, in der Tschechischen Republik, in Thailand und international.
| Employees | 3,923 |
|---|---|
| Headquarters | Ripon, WI |
| Website | alliancelaundry.com |
| IPO Date | 9. Oct 2025 |
| Next Earnings | 11. Aug 2026 |
Management
| Name | Title | Birth Year |
|---|---|---|
| Michael Donald Schoeb | CEO & Director | 1963 |
| Dean J. Nolden | Chief Financial Officer | 1968 |
| Joseph Weedon Hainline III | Chief Technology Officer | 1982 |
| M. Vleugels Jan Gommaar | Senior VP & COO of International | 1966 |
| Brian Christopher Sikora | Chief Accounting Officer | – |
| Thomas Gelston | Vice President of Investor Relations | – |
| Samantha Leigh Hannan | Chief Legal & Compliance Officer | 1989 |
| Kopetsky Amanda Brooke | Chief Human Resources Officer | 1981 |
| Michael Mancuso Gaetano | Chief Operations Officer of North America | 1979 |
| Travis Joseph Lindgren | Chief Product Officer | – |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Chart
Interactive price chart (TradingView).
Data as of: July 20, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.