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Astera Labs, Inc. (ALAB) stock

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NASDAQ: ALAB Nasdaq Semiconductors Next results ~November 3, 2026

C+ Fundamentals grade

Astera Labs is a global semiconductor company that designs connectivity products for cloud and AI data centres. Its Intelligent Connectivity Platform combines high-speed, mixed-signal chips with an embedded software suite called COSMOS, which configures, monitors and manages those chips. It sells four product families — Aries retimers and cable modules, Taurus Ethernet cable modules, Leo CXL memory controllers and Scorpio fabric switches — in the form of integrated circuits, boards and modules, built on standards such as PCIe, Ethernet and CXL.

Its customers are large cloud operators (hyperscalers), AI accelerator and GPU vendors, and system makers (OEMs). It sells directly and through distributors, typically against purchase orders for specific products. In 2025 its top three end customers together accounted for about 86% of revenue.

The company uses a fabless model, with its chips made by TSMC and assembled by other partners. It sells mainly into North America and Asia, maintains research offices across seven countries, and employed 756 full-time staff at the end of 2025. As of December 2025 it held 26 issued patents in the United States.

Based on Astera Labs, Inc.'s 10-K filed February 20, 2026.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: our cash-flow value ($35.09) was left out of our combined valuation (it is 0.14x the share price, outside the 0.2-5x range we accept), so it can't be the basis of a rating.

Price vs value

Under review: our cash-flow value ($35.09) was left out of our combined valuation (it is 0.14x the share price, outside the 0.2-5x range we accept), so it can't be the basis of a rating. We'll show the comparison once resolved.

Astera Labs, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 8 selling0 purchases and 504 sales by directors and officers, last 12 monthsInsider trades
  • Funds642 adding, 335 cuttingOf 91 active managers that changed their stake, 48 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Astera Labs files

Where Astera Labs stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $1.20bn, up 98.5% on a year earlier, slower than 104.2% a quarter earlier. That growth ranks 2 of 33 among the semiconductor companies we cover. Free-cash-flow margin fell to 23.0% from 34.7% a year earlier. Operating margin widened to 22.8% from 7.0%. The diluted share count is up 7.9% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. It passes 2 of our 2 financial-health checks.

Our model value for Astera Labs is under review, so past values are not shown until it is resolved.

Source: 10-Q filed August 5, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 3, 2026 (estimated)

Astera Labs, Inc.'s trailing-twelve-month revenue grew 98.5% year on year, with a free-cash-flow margin of 23.0%. Where it stands out: revenue growth of 98.5% ranks 6 of 75 semiconductor companies we cover. Where it lags: change in growth rate of -5.7pp ranks 64 of 75 semiconductor companies we cover.

Our discounted-cash-flow model values the business at ~$35 per share in the base case (~$28–$44 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 31.5% while net income grew 268.9%: a 237pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 98.5% over the last 12 months, against a median of 13.7% for semiconductor companies we cover.
  • Margins widening. Operating margin is up 15.8 points on a year ago.
  • Strong cash generation. 23.0% of revenue turned into free cash flow, against a median of 9.6% for semiconductor companies we cover.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 41.4% over 90 days.

Things to watch

  • Results due soon. Results are expected around 3 November; the share price can move sharply on the day.
  • Growth slowing. The growth rate is 5.7 points lower than a quarter earlier.
  • Heavy stock-based pay. Stock pay equals 16.2% of revenue, against a median of 6.4% for semiconductor companies we cover: a real cost that cash-flow figures leave out.
  • Share dilution. Diluted shares rose 7.9% in a year.
  • High earnings multiple. The shares trade at 113 times the last 12 months' earnings, so expectations are demanding.
  • Volatile shares. Over the past year the shares showed annualised volatility of 99% and a beta of 4.0 against the S&P 500.

Latest results: FY2026 Q2

Filed August 5, 2026
Earnings per share
$0.80 against an average estimate of $0.69: beat by 15.6%
Revenue
$392m, up 104.5% on a year earlier
Share reaction
-0.8% in the first session after the results on August 4, 2026, against +1.6% for the S&P 500
Guidance given
revenue $540m to $560m (Third Quarter of Fiscal 2026); GAAP gross margin 72% (Third Quarter of Fiscal 2026)
Next report
November 3, 2026; average EPS estimate $1.19

Astera Labs' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-11.2%
  • 1 week-11.5%
  • 1 month-34.4%
  • This year+38.1%
  • 1 year+23.0%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$1.2B
Operating margin
22.8%
Net margin
30.7%
EPS (TTM, diluted)
$2.03

Growth

Revenue growth
+98.5%
Change in growth rate
−5.7 pts
Share count change
+7.9%

Cash

Free cash flow (TTM)
$277M
FCF margin
23.0%
Stock pay % of revenue
16.2%

Earnings

Last results
August 4, 2026
Next results (est.)
November 3, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Announcement
  3. Announcement
  4. Announcement
  5. Announcement
  6. Announcement
  7. Announcement
  8. Insider trade
  9. Announcement
  10. Announcement
  11. Announcement
  12. Insider trade
  13. Results
  14. Guidance

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Astera Labs, Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: held for review: our cash-flow value ($35.09) was left out of our combined valuation (it is 0.14x the share price, outside the 0.2-5x range we accept), so it can't be the basis of a rating.

Our value per share comes from a discounted-cash-flow model of Astera Labs, Inc.'s free cash flow after stock-based pay ( $10.1M, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value Astera Labs, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 14%: the 10-year Treasury yield (4.9%) plus a beta of 2.03 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$35 ~$28–$44 Left out: out of range vs price (0.15x)
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$82 ~$50–$110 Included
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$96 ~$90–$170 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$5.3 ~$3.8–$7.4 Left out: out of range vs price (0.02x)
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$4.9 ~$4.5–$5.4 Left out: out of range vs price (0.02x)
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Astera Labs, Inc. with Semiconductors in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20242025Now
Share price$132.45$166.36$229.67
Market value$17.4bn$29.9bn$41.7bn
+ Net debt (− = net cash)−$80m−$168m−$111m
Enterprise value$17.3bn$29.7bn$41.6bn
Multiples
Price / sales 43.9x35.0x34.7x
Price / earnings —136.3x112.9x
Price / free cash flow 169.7x106.0x150.8x
EV / EBITDA —164.8x145.8x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Low.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 3, 2026, after the close. Analysts expect revenue of $551m and EPS of $1.19 (range $1.18 to $1.21) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $4.03 +119% $1.9bn +124%
Next $6.41 +59% $3.0bn +56%

Next year's EPS estimate has moved +41.4% in 90 days, across 23 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +33.9% on 90 days ago. In the last 30 days, 21 analysts raised Astera Labs, Inc.'s forecast and 0 cut it.

Consensus EPS forecast Astera Labs, Inc., last 90 days
$3.00 $4.00 $5.00 $6.00 $7.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $3.01 Current fiscal year, 60 days ago: $4.03 Current fiscal year, 30 days ago: $4.03 Current fiscal year, 7 days ago: $4.03 Current fiscal year, Now: $4.03 $4.03 Next fiscal year, 90 days ago: $4.53 Next fiscal year, 60 days ago: $6.39 Next fiscal year, 30 days ago: $6.39 Next fiscal year, 7 days ago: $6.40 Next fiscal year, Now: $6.41 $6.41

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $3.01$4.53
60 days ago $4.03$6.39
30 days ago $4.03$6.39
7 days ago $4.03$6.40
Now $4.03$6.41

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.69 $0.80 +15.6%
Mar 2026 $0.54 $0.61 +13.5%
Dec 2025 $0.51 $0.58 +12.6%
Sept 2025 $0.39 $0.49 +25.6%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 4, 2026
  • Revenue Third Quarter of Fiscal 2026 $540m to $560m GAAP
    “Revenue within a range of $540 million to $560 million” source
  • GAAP diluted net income per share Third Quarter of Fiscal 2026 $0.87 to $0.92 GAAP
    “GAAP diluted net income per share of approximately $0.87 to $0.92 on weighted-average diluted shares outstanding of approximately 185 million” source
  • Non-GAAP diluted net income per share Third Quarter of Fiscal 2026 $1.16 to $1.21 Non-GAAP
    “Non-GAAP dilu ted net income per share of approximately $1.16 to $1.21 on weighted-average diluted shares outstanding of approximately 185 million” source
  • GAAP gross margin Third Quarter of Fiscal 2026 about 72% GAAP
    “GAAP gross margin of approximately 72%” source
  • Non-GAAP gross margin Third Quarter of Fiscal 2026 about 72% Non-GAAP
    “Non-GAAP gross margin of approximately 72%” source
  • GAAP operating expenses Third Quarter of Fiscal 2026 $232m to $236m GAAP
    “GAAP operating expenses within a range of approximately $232 million to $236 million” source
Show 3 more items
  • GAAP tax rate Third Quarter of Fiscal 2026 about 4% GAAP
    “GAAP tax rate of approximately 4%” source
  • Non-GAAP operating expenses Third Quarter of Fiscal 2026 $156m to $160m Non-GAAP
    “Non-GAAP operating expenses within a range of approximately $156 million to $160 million” source
  • Non-GAAP tax rate Third Quarter of Fiscal 2026 about 12% Non-GAAP
    “Non-GAAP tax rate of approximately 12%” source

How earlier guidance turned out

  • GAAP diluted earnings per share, Second Quarter of Fiscal 2026 guided $0.44 to $0.46 Above range: $0.83
  • GAAP gross margin, Second Quarter of Fiscal 2026 guided about 73% Within range: 73.284149%
  • Revenue, Second Quarter of Fiscal 2026 guided $355m to $365m Above range: $392m

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Astera Labs, Inc.'s revenue by +87.6% next year and +28.8% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+103.5%, weight 57%) , management guidance (+138.5%, weight 19%) and the company's own record (+13.0%, weight 25%) . How the weights are set.

Analyst recommendations

26 analysts, Oct 2026
Buy1869%
Hold831%
Sell00%

Monthly trend

  1. Oct 2026711826
  2. Sep 2026712726
  3. Aug 2026712726
  4. Jul 2026711826

Counts of recommendations published by analysts covering Astera Labs, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
6.1%
of tradable shares
Days to cover
1.86
at average volume
Short interest, 1 month
−8%
to October 15, 2026
Held by institutions
76%
of shares
Held by insiders
10.3%
of shares
Employees
756
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +23.0%

$186.68 on October 31, 2025 to $229.67

ThenNowEffect
Revenue (last 12 months) $606m $1.2bn +98.5%
Net margin 16.5% 30.7% +85.9%
P/E multiple n/m 112.9x −64.0%
Share count 168m 182m −7.3%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 20252026 to date
Return
ALAB+26%+38%
Industry peers (median)+16%+13%
S&P 500+18%+11%
Months that ended higher
ALAB50%36%
S&P 50075%46%
Largest fall from a high during the year
ALAB−63%−53%
S&P 500−19%−9%

Worst fall since March 20, 2024: 64% from December 26, 2024 to April 4, 2025. Getting back needed a 175% gain, reached on August 6, 2025, 124 days after the low.

Price behaviour

52-week range
$100.27 – $483.02
From 52-week high
−52.5%
vs 50-day average
−25.2%
vs 200-day average
−10.1%
Volatility (1 year)
99%
Beta vs S&P 500
4.05

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
3 up, 7 down
typical move ±13.3%
After a week
4 up, 6 down
typical move ±15.9%
After a month
4 up, 6 down
typical move ±32.6%
Results releasedNext dayS&P 500 next day5 days21 days
August 4, 2026 −0.8% +1.6% −2.8% −14.6%
May 5, 2026 +6.3% +2.2% +1.6% +77.9%
February 10, 2026 −23.4% −0.3% −31.0% −36.1%
November 4, 2025 −5.0% −0.8% −12.5% −20.4%
August 5, 2025 +26.4% +0.3% +39.2% +36.3%
May 6, 2025 −1.5% −0.4% +21.6% +25.7%
February 10, 2025 −9.1% +0.8% −7.9% −32.1%
November 4, 2024 +32.0% +1.0% +27.0% +58.7%
August 6, 2024 −16.9% +0.2% −7.7% −4.8%
May 7, 2024 −11.3% +0.1% −7.4% −19.3%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Astera Labs, Inc. in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Astera Labs, Inc.
$0 $500M $1B $1.5B FY23 Q4 FY24 Q2 FY24 Q4 FY25 Q2 FY25 Q4 FY26 Q2 Revenue (TTM), FY23 Q4: $115.8M Revenue (TTM), FY24 Q1: $163.4M Revenue (TTM), FY24 Q2: $229.6M Revenue (TTM), FY24 Q3: $305.7M Revenue (TTM), FY24 Q4: $396.3M Revenue (TTM), FY25 Q1: $490.5M Revenue (TTM), FY25 Q2: $605.5M Revenue (TTM), FY25 Q3: $723M Revenue (TTM), FY25 Q4: $852.5M Revenue (TTM), FY26 Q1: $1B Revenue (TTM), FY26 Q2: $1.2B $1.2B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $115.8M
FY24 Q1 $163.4M
FY24 Q2 $229.6M
FY24 Q3 $305.7M
FY24 Q4 $396.3M
FY25 Q1 $490.5M
FY25 Q2 $605.5M
FY25 Q3 $723M
FY25 Q4 $852.5M
FY26 Q1 $1B
FY26 Q2 $1.2B
Revenue growth, TTM YoY Astera Labs, Inc.
50% 100% 150% 200% 250% FY24 Q4 FY25 Q2 FY25 Q4 FY26 Q2 Revenue growth, TTM YoY, FY24 Q4: 242.2% Revenue growth, TTM YoY, FY25 Q1: 200.2% Revenue growth, TTM YoY, FY25 Q2: 163.8% Revenue growth, TTM YoY, FY25 Q3: 136.5% Revenue growth, TTM YoY, FY25 Q4: 115.1% Revenue growth, TTM YoY, FY26 Q1: 104.2% Revenue growth, TTM YoY, FY26 Q2: 98.5% 98.5%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q4 242.2%
FY25 Q1 200.2%
FY25 Q2 163.8%
FY25 Q3 136.5%
FY25 Q4 115.1%
FY26 Q1 104.2%
FY26 Q2 98.5%
Operating margin (TTM) Astera Labs, Inc.
-60% -40% -20% 0% 20% 40% FY23 Q4 FY24 Q2 FY24 Q4 FY25 Q2 FY25 Q4 FY26 Q2 Operating margin (TTM), FY23 Q4: -25.5% Operating margin (TTM), FY24 Q1: -57.2% Operating margin (TTM), FY24 Q2: -43.7% Operating margin (TTM), FY24 Q3: -35.1% Operating margin (TTM), FY24 Q4: -29.3% Operating margin (TTM), FY25 Q1: -4.4% Operating margin (TTM), FY25 Q2: 7.0% Operating margin (TTM), FY25 Q3: 14.7% Operating margin (TTM), FY25 Q4: 20.3% Operating margin (TTM), FY26 Q1: 22.4% Operating margin (TTM), FY26 Q2: 22.8% 22.8%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 -25.5%
FY24 Q1 -57.2%
FY24 Q2 -43.7%
FY24 Q3 -35.1%
FY24 Q4 -29.3%
FY25 Q1 -4.4%
FY25 Q2 7.0%
FY25 Q3 14.7%
FY25 Q4 20.3%
FY26 Q1 22.4%
FY26 Q2 22.8%
FCF margin (TTM) Astera Labs, Inc.
-20% 0% 20% 40% FY23 Q4 FY24 Q2 FY24 Q4 FY25 Q2 FY25 Q4 FY26 Q2 FCF margin (TTM), FY23 Q4: -13.4% FCF margin (TTM), FY24 Q1: -6.7% FCF margin (TTM), FY24 Q2: 19.0% FCF margin (TTM), FY24 Q3: 30.0% FCF margin (TTM), FY24 Q4: 25.8% FCF margin (TTM), FY25 Q1: 22.1% FCF margin (TTM), FY25 Q2: 34.7% FCF margin (TTM), FY25 Q3: 31.7% FCF margin (TTM), FY25 Q4: 33.1% FCF margin (TTM), FY26 Q1: 34.2% FCF margin (TTM), FY26 Q2: 23.0% 23.0%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 -13.4%
FY24 Q1 -6.7%
FY24 Q2 19.0%
FY24 Q3 30.0%
FY24 Q4 25.8%
FY25 Q1 22.1%
FY25 Q2 34.7%
FY25 Q3 31.7%
FY25 Q4 33.1%
FY26 Q1 34.2%
FY26 Q2 23.0%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Astera Labs took in during FY2025, followed through to profit: what it cost to make, what went on research and running the business, and what was left after tax.

  1. Revenue $853M
  2. Other income $45.7M · 5.4%
  3. Cost of revenue $207M · 24.3%
  4. Gross profit $645M · 75.7%
  5. Research and development $304M · 35.7%
  6. Selling, general and admin $168M · 19.7%
  7. Operating income $173M · 20.3%
  8. Net income $219M · 25.7%

Shares of revenue. Source: Astera Labs's 10-K for FY2025, as filed with the SEC. Other income is income outside operations, such as investment gains.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 80 116 396 853 1,202
Gross profit 59 80 303 645 903
EBITDA −59 −28 −113 180 285
Operating income −60 −29 −116 173 273
Net income −58 −26 −83 219 369
Diluted EPS −$1.71 −$0.71 −$0.64 $1.22 $2.03
Growth (year on year)
Revenue — +45.0% +242.2% +115.1% +98.5%
EBITDA — — — — +512.7%
Operating income — — — — +546.3%
Net income — — — — +268.9%
Diluted EPS — — — — +242.0%
Margins
Gross margin 73.5% 68.9% 76.4% 75.7% 75.1%
EBITDA margin −74.4% −23.9% −28.5% 21.1% 23.7%
Operating margin −75.4% −25.5% −29.3% 20.3% 22.8%
Net margin −73.0% −22.7% −21.1% 25.7% 30.7%
Free-cash-flow margin −49.8% −13.4% 25.8% 33.1% 23.0%
Cash flow
Cash from operations −36 −13 137 319 336
Capital spending 4 3 34 38 59
Free cash flow −40 −15 102 282 277
Stock-based pay 30 11 235 160 195
Free cash flow after stock pay −70 −26 −132 122 82
Balance sheet
Cash 76 45 80 168 111
Total debt 0 0 0 0 0
Net debt (negative = net cash) −76 −45 −80 −168 −111
Diluted shares 34m 37m 131m 180m 182m
Returned to shareholders
Buybacks 0 0 1 0 —
Total returned 0 0 1 0 —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 2 checks passed · June 30, 2026
What it owns · $1.9bn
Short-term assets $1.7bnLonger-term assets $280m
What it owes, and who funded it · $1.9bn
Short-term liabilities $164mLonger-term liabilities $41mShareholders' equity $1.7bn
  • Short-term assets cover short-term liabilities $1.7bn of assets due within a year against $164m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $1.7bn short-term assets against $41m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Astera Labs, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Buybacks, last 3 fiscal years
$1.3M
Diluted share count
+7.9%
year over year
R&D spending
36.1%
of revenue
Days sales outstanding
58 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in semiconductors
Last 12 months unless stated ALAB SYNA ENPH ARRY MTSI SMTC Median
Revenue, last 12 months $1.2bn $1.2bn $1.2bn $1.2bn $1.2bn $1.1bn $1.1bn
Revenue growth, last 12 months 98.5% 11.4% −19.9% 1.2% 28.4% 14.2% 13.7%
Revenue growth, 3-year average — −4.0% −23.6% −13.0% 19.8% 11.3% 3.9%
Revenue growth, latest quarter 104.5% 8.9% −28.5% −5.6% 35.8% 15.9% 20.1%
Gross margin 75.1% 44.7% 45.8% 24.3% 56.5% 51.6% 48.3%
Operating margin 22.8% −5.6% 4.2% −5.1% 18.1% 2.1% 4.8%
Operating margin, 3-year average −4.6% −8.3% 5.9% −3.9% 13.4% −33.4% 4.8%
Net margin 30.7% −41.0% 7.5% −7.2% 20.7% −3.0% 5.3%
Cash from operations / revenue 27.9% 12.5% 15.8% 13.7% 23.3% 17.4% 17.4%
Free-cash-flow margin 23.0% 8.5% 11.2% 11.4% 17.5% 15.9% 9.6%
Free-cash-flow margin, 3-year average 25.6% 10.0% 17.5% 13.5% 19.5% 7.2% 8.5%
Stock pay / revenue 16.2% 12.5% 15.6% 1.5% 7.2% 7.1% 5.8%
Change in share count 7.9% −1.0% −2.8% 0.6% 1.8% 16.2% 0.9%

Median of all 75 companies we cover in semiconductors. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

75 semiconductor companies
Measure Company Peer median Rank
Revenue growth Growth 98.5% 13.7% 6 of 75
Change in growth rate Growth -5.7pp +3.7pp 64 of 75
Gross margin Profitability 75.1% 48.3% 7 of 73
Operating margin Profitability 22.8% 4.8% 16 of 75
Net margin Profitability 30.7% 5.3% 10 of 75
Free-cash-flow margin Cash generation 23.0% 9.6% 16 of 75
Stock pay as % of revenue Cash generation 16.2% 6.4% 57 of 74
Change in share count Balance sheet 7.9% 0.9% 58 of 72
Days sales outstanding Balance sheet 58 days 58 days 32 of 62

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Products $853M 100.0% ▲ 116.9%
Technology services $0 0.0% ▼ 100.0%
Geography
Region Revenue Share YoY
Singapore $277M 32.5% ▲ 853.3%
China $256M 30.1% ▲ 252.6%
Taiwan $247M 29.0% ▼ 8.3%
Outside the US $44.4M 5.2% ▲ 232.9%
United States $27.4M 3.2% ▲ 142.8%

From Astera Labs, Inc.'s 10-K filed February 20, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$61.1B
Institutions reporting
974
Shares held vs prior quarter
▲ 4.8%
Positions opened / closed
358 / 81

Top buyers and sellers, Q2 2026: 642 institutions bought and 335 sold ; the biggest buyer was Invesco Ltd (+4.5M shares) and the biggest seller Atreides Management, LP (−2.1M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
FMR LLC $12B 24.8M 19.6% ▼ 2.7%
Blackrock, Inc. $6.6B 13.7M 10.8% ▲ 19.5%
Vanguard Portfolio Management LLC $3.8B 7.9M 6.2% ▲ 7.9%
Vanguard Capital Management LLC $3.2B 6.7M 5.3% ▲ 6.1%
Invesco Ltd. $2.4B 4.9M 3.9% ▲ 1226.5%
State Street Corp $1.8B 3.7M 2.9% ▲ 10.3%
Geode Capital Management, LLC $1.3B 2.8M 2.2% ▲ 11.5%
Price T Rowe Associates Inc $1.2B 2.4M 1.9% ▲ 289.6%
Van Eck Associates Corp $1.1B 2.2M 1.8% ▲ 20.0%
Bank Of America Corp $1.1B 2.2M 1.7% ▲ 22.9%
Morgan Stanley $815M 1.7M 1.3% ▼ 2.6%
Jpmorgan Chase & Co $810M 1.8M 1.3% ▲ 312.6%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Astera Labs, Inc.'s complete shareholder register. Values are as reported by the filers ; 12 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $784M 504 trades by 8 insiders · 79% under pre-set plans
Net ▼ $784M net selling
Insider Date Trade Shares Price Value
Dyckerhoff Stefan A Director October 7, 2026 Sell pre-set plan 661 $376.06 $248,576
Dyckerhoff Stefan A Director October 7, 2026 Sell pre-set plan 8,333 $376.06 $3.1M
Dyckerhoff Stefan A Director October 7, 2026 Sell pre-set plan 3,505 $376.06 $1.3M
Dyckerhoff Stefan A Director September 2, 2026 Sell pre-set plan 32 $276.75 $8,856
Dyckerhoff Stefan A Director September 2, 2026 Sell pre-set plan 407 $276.75 $112,638
Dyckerhoff Stefan A Director September 2, 2026 Sell pre-set plan 172 $276.75 $47,601
Dyckerhoff Stefan A Director September 2, 2026 Sell pre-set plan 148 $275.53 $40,779
Dyckerhoff Stefan A Director September 2, 2026 Sell pre-set plan 1,867 $275.53 $514,420
Dyckerhoff Stefan A Director September 2, 2026 Sell pre-set plan 785 $275.53 $216,293
Dyckerhoff Stefan A Director September 2, 2026 Sell pre-set plan 429 $274.79 $117,884
Dyckerhoff Stefan A Director September 2, 2026 Sell pre-set plan 5,409 $274.79 $1.5M
Dyckerhoff Stefan A Director September 2, 2026 Sell pre-set plan 2,275 $274.79 $625,145

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 2 trades and filings

No trades in Astera Labs, Inc. disclosed in the last 12 months; 2 earlier trades on record.

  • Robert P. Bresnahan, Jr.(R-PA 8):Sale (full), $1,001 - $15,000, traded February 27, 2025, filed March 27, 2025
  • Robert P. Bresnahan, Jr.(R-PA 8):Sale (full), $1,001 - $15,000, traded February 18, 2025, filed March 10, 2025

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around November 3, 2026 estimated from the company's past filing pattern, not announced

  • August 4, 2026
  • May 5, 2026
  • February 10, 2026
  • November 4, 2025
  • August 5, 2025
  • May 6, 2025

Recent SEC filings

Data status

When each part of this page on Astera Labs, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Astera Labs, Inc. in brief

What does Astera Labs, Inc. do?
Astera Labs, Inc. is a US-listed company in the semiconductors industry. Its financial year ends in December.
What is Astera Labs, Inc.'s stock ticker?
Astera Labs, Inc. trades under the ticker ALAB on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Astera Labs, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Astera Labs, Inc. reported revenue of $1.2B, 98.5% higher than a year earlier, according to its SEC filings.
What is Astera Labs, Inc.'s free cash flow?
Astera Labs, Inc.'s free-cash-flow margin is 23.0% of revenue over the trailing twelve months, ranking 16 of the 75 semiconductor companies we cover.
Who are Astera Labs, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are FMR LLC, Blackrock, Inc. and Vanguard Portfolio Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Astera Labs, Inc.'s market cap?
On November 2, 2026, Astera Labs, Inc.'s market capitalisation was about $41.7B, with a price-to-earnings ratio of 112.9 and net debt of -$111M. Market figures come from third-party market data and may be delayed.
Who are Astera Labs, Inc.'s competitors?
In our Semiconductors peer group, the companies closest to Astera Labs, Inc. are Synaptics Inc, Enphase Energy, Inc., Array Technologies, Inc., Macom Technology Solutions Holdings, Inc. and Semtech Corp. The side-by-side comparison below sets their revenue, margins and growth against Astera Labs, Inc.'s.
Are insiders buying or selling Astera Labs, Inc. stock?
Over the last 12 months, Astera Labs, Inc.'s directors and officers reported 0 open-market purchases and 504 sales on Form 4. The insider trading page charts every trade.
When is Astera Labs, Inc.'s next earnings date?
Around November 3, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Astera Labs, Inc. announces its own schedule.