Astera Labs, Inc. (ALAB) financials
NASDAQ · Technology · Semiconductors · 756 employees · CEO Jitendra Mohan
- Price
- $258.70 -10.93%
- Market cap
- $44.9B
- Enterprise value
- $44.8B
- Last report
- Q2 '26 filed 2026-08-05
- Next report
- 2026-11-03 EPS est. $1.19
Revenue (TTM)$1.2B+98.5% vs a year agoLast 4 quarters; bars = each quarter
Operating margin (TTM)22.8%+15.8 pp vs a year agoOperating income $273M
Net income (TTM)$369M+268.9% vs a year agoAfter tax, incl. non-operating gains
Free cash flow (TTM)$277M+31.5% vs a year agoCapex $59M
Diluted EPS (TTM)$2.03+261.5% vs a year agoSum of the last 4 quarters
Net cash$1.25B+21.3% vs a year agoCash + short-term investments - debt
Valuation & key figures
- Market cap
- $44.9B EV $44.8B
- Revenue
- $1.2B Trailing 12 months
- Revenue growth
- +124% FY2026 consensus
- Profit margin
- 30.7% Net income / revenue, TTM
- P/E
- 119.2× Forward 64.8× (FY2026)
- P/S
- 37.3× Price / sales, TTM
- EV / EBITDA
- 134.1× TTM
- Free cash flow
- $277M Trailing 12 months
- Net income
- $369M Trailing 12 months
- Revenue estimate
- $1.91B FY2026 consensus
- Earnings
- 2026-11-03 Revenue est. $551M
- Dividend
- – No dividend
Key takeaways
Computed from the reported numbers - every statement carries the figure it rests on.
- Last report (2026-08-04): revenue beat by 8.7%, EPS beat by 15.8%Revenue $392M vs $361M expected (+8.7%); EPS $0.80 vs $0.69 (+15.8%).
- Revenue growth slowing: 104.5% year on yearQ2 '26 revenue $392M, against an average of 109.7% over the four quarters before.
- Operating margin 22.8% (TTM), +15.8 pp on a year agoOperating income grew 546.3% while revenue grew 98.5%.
- 15.1% of pre-tax profit is non-operatingPre-tax income $322M vs operating income $273M (TTM). Gains on equity stakes and other one-off items lift net income and EPS - operating income is the cleaner measure of the business.
- Capex 4.9% of revenue (a year ago 6.4%)$59M invested in the last 4 quarters (+52.5% on a year earlier). Free cash flow $277M = 74.9% of net income.
- Diluted share count up 2.3% in a year182M diluted shares in Q2 '26, 178M a year earlier.
- Net cash $1.25BCash + short-term investments $1.25B, debt incl. leases $0; a year ago net cash $1.03B.
Last quarter: Q2 '26
Quarter ended 2026-06-30. Compared with the same quarter a year earlier and with the analyst consensus before the report.
Quarter vs a year ago
| Q2 '26 | Year ago | Change | |
|---|---|---|---|
| Revenue | $392M | $192M | +104.5% |
| Gross margin | 73.3% | 75.8% | -2.6 pp |
| Operating income | $89.2M | $39.8M | +124.4% |
| Operating margin | 22.7% | 20.7% | +2.0 pp |
| Net income | $153M | $51.2M | +198.9% |
| Diluted EPS | $0.84 | $0.29 | +189.7% |
| Operating cash flow | $87.7M | $135M | -35.2% |
| Capex | $20.5M | $2.02M | +911.8% |
| Free cash flow | $67.2M | $133M | -49.6% |
| R&D | $136M | $66.7M | +103.7% |
| Stock-based compensation | $64M | $35.5M | +80.4% |
Reported vs consensus
2026-08-04| Actual | Consensus | vs consensus | |
|---|---|---|---|
| Revenue | $392M | $361M | +8.7% |
| EPS (as estimated) | $0.80 | $0.69 | +15.8% |
From the report of 2026-08-04 for Q2 '26: revenue and the EPS analysts estimate (often adjusted), so it can differ from the EPS of the statements above.
EPS vs consensus
last 8 reportsRevenue
Where the money comes from - by business line and by region, quarter by quarter.
Revenue, operating income and growth
quarterlyRevenue by business line
stacked, quarterly| Segment | Q2 '26 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| Reportable Segment | $392M | +104.5% | 100.0% | $1.2B | – |
Revenue by region
share of total| Segment | Q2 '26 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| TAIWAN | $106M | +86.7% | 27.0% | $313M | -22.4% | |
| CHINA | $153M | +158.6% | 38.9% | $395M | +123.9% | |
| SINGAPORE | $114M | +71.2% | 29.0% | $384M | – | |
| Non-US | $14.7M | +94.1% | 3.7% | $67.8M | +27.3% | |
| United States | $5.53M | +149.4% | 1.4% | $42.4M | +152.2% |
Margins & cost structure
How much of each unit of revenue is left at each level - and where the costs go.
Margins
quarterlyCosts as % of revenue
quarterlyCash flow & capital allocation
Cash generated, what it is spent on, and what reaches shareholders.
Operating cash flow, capex, free cash flow
quarterlyUses of cash vs operating cash flow
fiscal yearsLast 4 quarters
cash flow statement- Operating cash flow
- $336M
- Capex
- -$59M
- Buybacks
- $0
- Dividends
- $0
- Acquisitions
- -$98M
- Net debt issued
- $0
- Stock-based compensation
- $195M
- Free cash flow
- $277M
- Returned to shareholders / FCF
- -0.0%
Share count and EPS
quarterly, dilutedBalance sheet
Liquidity, investments and debt at each quarter end.
Cash, investments and debt
quarter endsValuation & returns
Today's multiples against the company's own last five fiscal years; analyst targets and ratings.
Multiples and returns
TTM vs 5 fiscal years| Now | 5y average | Where today sits in the 5-year range | |
|---|---|---|---|
| P/E (TTM) | 119.2× | 126.0× 1 of 4 years | 126.0× – 126.0× |
| EV / EBITDA | 134.1× | 122.5× 1 of 4 years | 122.5× – 122.5× |
| EV / Sales | 37.2× | 64.4× | 32.3× – 100.4× |
| Price / FCF | 162.2× | 134.0× 2 of 4 years | 98.3× – 169.7× |
| Price / Book | 25.7× | 32.8× 3 of 4 years | 18.0× – 60.1× |
| FCF yield | 0.6% | 0.2% | -0.5% – 1.0% |
| Return on invested capital | 15.5% | -13.1% | -34.7% – 12.4% |
| Return on equity | 25.2% | 14.8% | -16.7% – 68.4% |
Analysts
Consensus target $390.18 (+50.8%)
range $275.00 – $500.00 · rating Buy
Strong buy0
Buy13
Hold5
Sell0
Strong sell0
Outlook
Analyst consensus for the coming fiscal years and what it implies at today's price.
Consensus estimates
| Fiscal year | Revenue | Growth | EPS | Growth | P/E at today's price | Analysts (EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $1.91B | +123.7% | $3.99 | +227.4% | 64.8× | 14 |
| FY2027 | $3.08B | +61.7% | $6.49 | +62.5% | 39.9× | 15 |
| FY2028 | $3.99B | +29.5% | $8.24 | +27.0% | 31.4× | 12 |
| FY2029 | $6.37B | +59.6% | $14.60 | +77.1% | 17.7× | 9 |
| FY2030 | $7.14B | +12.1% | $16.80 | +15.1% | 15.4× | 5 |
Financial statements
Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.
Every reported line
All 219 figures Astera Labs, Inc. Common Stock tagged in its recent 10-Q / 10-K filings, with the official SEC label and definition - including the notes (leases, taxes, buybacks, employees, ...).
| Line (SEC label) | Latest quarter | Year ago | y/y | Latest FY | Prior FY | y/y |
|---|---|---|---|---|---|---|
| Accounts Payable, Current | $53.9M | $31.6M | +70.8% | $42.4M | $26.9M | +57.4% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $192M | $24.3M | +691.5% | $83.2M | $38.8M | +114.4% |
| Accretion (Amortization) of Discounts and Premiums, Investments | $978K | $1.95M | -49.8% | $7.93M | $8.44M | -6.0% |
| Accrued Liabilities, Current | $110M | $74.8M | +47.5% | $90.7M | $59.6M | +52.1% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $19.4M | $7.41M | +161.3% | $11.7M | $5.83M | +101.0% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$3.37M | $2.87M | -217.2% | $4.31M | $426K | +911.7% |
| Additional Paid in Capital | $1.49B | $1.26B | +18.0% | $1.35B | $1.17B | +15.0% |
| Adjustments to Additional Paid in Capital, Warrant Issued | $10.2M | $1.76M | +480.1% | $5.51M | $1.4M | +295.3% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 56K | 1.06M | -94.7% | 68K | 21.5M | -99.7% |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $64M | $35.5M | +80.4% | $160M | $235M | -31.8% |
| Area of Real Estate Property | – | – | – | 154,231 sqft2024-12-16 | – | – |
| Asset Impairment Charges | – | – | – | $0 | $0 | – |
| Assets | $1.93B | $1.27B | +51.9% | $1.53B | $1.05B | +45.3% |
| Assets, Current | $1.65B | $1.18B | +39.9% | $1.36B | $1.01B | +34.5% |
| Capital Expenditures Incurred but Not yet Paid | $11.1M | $13.6M | -18.5% | $15.5M | $173K | +8,868.8% |
| Cash and Cash Equivalents, at Carrying Value | $111M | $162M | -31.3% | $168M | $79.6M | +110.7% |
| Cash and Cash Equivalents, Fair Value Disclosure | $84.6M | – | – | $148M | – | – |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $112M | $163M | -31.8% | $168M | $80M | +109.5% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | -$36.8M | $76.4M | -148.2% | $87.6M | $34.9M | +150.8% |
| Common Stock, Par or Stated Value Per Share | $0.00 | $0.00 | 0.0% | $0.00 | $0.00 | 0.0% |
| Common Stock, Shares Authorized | 1B | 1B | 0.0% | 1B | 1B | 0.0% |
| Common Stock, Shares, Issued | 173M | 166M | +4.4% | 170M | 162M | +5.0% |
| Common Stock, Shares, Outstanding | 173M | 166M | +4.4% | 170M | 162M | +5.0% |
| Common Stock, Value, Issued | $17K | $17K | 0.0% | $17K | $16K | +6.3% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $150M | $52.1M | +189.1% | $223M | -$83.3M | +367.9% |
| Contract with Customer, Liability, Current | $02025-12-31 | $15M | -100.0% | $0 | $15M | -100.0% |
| Conversion of Stock, Amount Issued | $02025-12-31 | $0 | – | $0 | $255M | -100.0% |
| Cost of Goods and Services Sold | $105M | $46.4M | +126.1% | $207M | $93.6M | +121.5% |
| Current Federal Tax Expense (Benefit) | – | – | – | -$2.05M | $1.14M | -279.8% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $1.07M | $510K | +110.2% |
| Current Income Tax Expense (Benefit) | – | – | – | -$1M | $1.64M | -160.9% |
| Current State and Local Tax Expense (Benefit) | – | – | – | -$21K | -$8K | -162.5% |
| Debt Securities, Available-for-sale | $1.14B | $1.03B | +11.2% | $1.02B | $835M | +22.3% |
| Debt Securities, Available-for-sale, Amortized Cost | $1.1B2025-09-30 | $863M | +28.1% | $894M2024-12-31 | $105M | +747.6% |
| Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year One Through Five | $644M2025-09-30 | $361M | +78.5% | $468M2024-12-31 | $39.6M | +1,081.0% |
| Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, Year One | $461M2025-09-30 | $502M | -8.2% | $426M2024-12-31 | $65.8M | +546.9% |
| Debt Securities, Available-for-sale, Current | $1.14B | $903M | +26.4% | $1.02B | $835M | +22.3% |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year One Through Five | $648M2025-09-30 | $364M | +77.7% | $468M2024-12-31 | $39.9M | +1,072.1% |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, Year One | $461M2025-09-30 | $503M | -8.2% | $426M2024-12-31 | $65.8M | +548.2% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | $0 | $0 | – |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | $19K | $0 | – |
| Deferred Income Tax Expense (Benefit) | – | – | – | $19K | $0 | – |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | $0 | $0 | – |
| Deferred Tax Assets, Goodwill and Intangible Assets | $71.3M2025-12-31 | $98.8M | -27.8% | $71.3M | $98.8M | -27.8% |
| Deferred Tax Assets, Gross | $277M2025-12-31 | $170M | +62.4% | $277M | $170M | +62.4% |
| Deferred Tax Assets, Net | – | – | – | $02024-12-31 | $0 | – |
| Deferred Tax Assets, Operating Loss Carryforwards | $59.3M2025-12-31 | $1.12M | +5,219.8% | $59.3M | $1.12M | +5,219.8% |
| Deferred Tax Assets, Other | $4.36M2025-12-31 | $6.87M | -36.6% | $4.36M | $6.87M | -36.6% |
| Deferred Tax Assets, Tax Credit Carryforwards, General Business | $121M2025-12-31 | $48.5M | +148.9% | $121M | $48.5M | +148.9% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-based Compensation Cost | $14.9M2025-12-31 | $14.9M | -0.1% | $14.9M | $14.9M | -0.1% |
| Deferred Tax Assets, Valuation Allowance | $270M2025-12-31 | $168M | +60.6% | $270M | $168M | +60.6% |
| Deferred Tax Liabilities, Gross | $9.68M2025-12-31 | $2M | +383.5% | $9.68M | $2M | +383.5% |
| Deferred Tax Liabilities, Leasing Arrangements | $5.99M2025-12-31 | $179K | +3,246.9% | $5.99M | $179K | +3,246.9% |
| Deferred Tax Liabilities, Net | $3.41M2025-12-31 | – | – | $3.41M | – | – |
| Deferred Tax Liabilities, Other | $1.32M2025-12-31 | $115K | +1,044.3% | $1.32M | $115K | +1,044.3% |
| Deferred Tax Liabilities, Property, Plant and Equipment | $2.35M2025-12-31 | $1.21M | +94.8% | $2.35M | $1.21M | +94.8% |
| Depreciation, Depletion and Amortization | $3.9M | $1.4M | +178.6% | – | – | – |
| Depreciation, Depletion and Amortization, Nonproduction | $3.93M | $1.39M | +182.3% | $6.83M | $3.15M | +116.5% |
| Earnings Per Share, Basic | $0.89 | $0.31 | +187.1% | $1.32 | -$0.64 | +306.3% |
| Earnings Per Share, Diluted | $0.83 | $0.29 | +186.2% | $1.22 | -$0.64 | +290.6% |
Source: SEC companyfacts (XBRL of every 10-Q / 10-K). Cash-flow quarters are derived from the year-to-date figures the 10-Q tags. Segment breakdowns are tagged with dimensions and are shown in the segment section instead.
Sources
Statements, segment revenue, metrics, estimates: Financial Modeling Prep. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30, 10-Q 2024-06-30
Data as of 2026-11-02