Alvotech balance sheet

At the end of fiscal 2025, Alvotech had total assets of $1.49bn, total liabilities of $1.77bn and shareholders' equity of −$284m. It held $172m in cash against $1.30bn of debt: net debt of $1.13bn.

Balance sheet

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

Alvotech: balance sheet, annual
Fiscal year	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Cash and equivalents	32	18	66	11	51	172
Inventory	—	39	71	74	128	220
Total current assets	—	120	231	195	455	574
Goodwill	13	12	12	12	11	13
Total assets	—	598	828	950	1,221	1,487
Total current liabilities	—	112	167	261	193	304
Short-term debt	—	3	20	38	33	37
Long-term debt	—	398	745	922	1,036	1,262
Total debt	568	401	765	960	1,069	1,299
Total liabilities	—	734	1,393	1,883	1,634	1,772
Shareholders' equity	−867	−136	−564	−932	−413	−284
Net debt (negative = net cash)	536	383	698	949	1,017	1,127
Shares outstanding	—	—	—	267m	302m	312m

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from Alvotech's SEC filings (10-K and 10-Q), retrieved November 2, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Alvotech.