Astera Labs, Inc. (ALAB)

Astera Labs, Inc. designs, manufactures, and sells semiconductor-based connectivity solutions for cloud and AI infrastructure in Taiwan and the United States. It offers an intelligent connectivity platform, comprised of semiconductor-based, high-speed, mixed-signal connectivity products that integrate a matrix of microcontrollers and sensors, and COSMOS. The company provides COSMOS software suite, a connectivity system management and optimization software that enables management and optimization of resources for large fleets at cloud-scale via link, fleet, and RAS management capabilities. In addition, it offers PCIe/CXL smart DSP retimers and cable modules; ethernet smart cable modules for cloud and AI infrastructure; CXL memory connectivity controllers; and smart fabric switches. The company serves hyperscalers and system original equipment manufacturers. Astera Labs, Inc. was incorporated in 2017 and is based in San Jose, California.

Ticker
ALAB
Exchange
Nasdaq
Sector
Technology
Industry
Semiconductors
Market cap
$33.33B
52-week range
$97.89 - $499.48

Valuation

Share price
$190.71 (close of Nov 6, 2026)
P/E (TTM)
70.90x
Price to book
16.67x
Price to free cash flow
96.69x
Enterprise value
$33.16B
Book value per share
$11.44

Price performance

PeriodChange
1 day+6.26%
5 days-26.28%
1 month-51.07%
3 months-42.47%
6 months-10.85%
Year to date+14.64%
1 year+17.12%
All time+207.45%

Short interest

As of
Oct 15, 2026
Short % of float
6.00%
Shares short
8.02M
Days to cover
1.81
Change since prior report
-12.66%
Source
FINRA consolidated short interest

Profitability and growth

Return on equity
16.07%
Return on invested capital
12.68%
Return on assets
14.31%
Return on capital employed
12.40%
Gross margin
75.69%
Net margin
25.70%
EBITDA margin
21.14%
Revenue growth
115.13%
Free cash flow growth
175.07%

Cash flow and balance sheet

Free cash flow yield (TTM)
1.03%
Current ratio
8.03x
Net debt to EBITDA
-0.40x

Latest reported year

Period end
Dec 31, 2025
Fiscal year
2025
Revenue
$852.52M
Cost of revenue
$207.26M
Gross profit
$645.26M
EBITDA
$180.25M
Net income
$219.13M
Earnings per share
$1.32
Research and development
$304.00M
Shares outstanding
166.41M

Income statement by year

Period endRevenueGross profitNet incomeEPS
2025-12-31$852.52M$645.26M$219.13M$1.32
2024-12-31$396.29M$302.70M-$83.42M-$0.64
2023-12-31$115.79M$79.83M-$26.26M-$0.71
2022-12-31$79.87M$58.68M-$58.34M-$1.71

Margins and returns by year

Period endGross marginNet marginReturn on equityReturn on capital
2025-12-3175.69%25.70%16.07%12.68%
2024-12-3176.38%-21.05%-8.65%-12.01%
2023-12-3168.94%-22.68%--
2022-12-3173.47%-73.05%--

Cash and debt by year

Period endCash
2025-12-31$167.61M
2024-12-31$79.55M
2023-12-31$45.10M
2022-12-31$76.09M

Free cash flow by year

Period endFree cash flowStock-based compensation
2025-12-31$281.76M$160.03M
2024-12-31$102.43M$234.59M
2023-12-31-$15.48M$10.68M
2022-12-31-$39.77M$30.23M

Investor relations

Past earnings dates

ReportedFiscal periodEPS estimate
2026-11-03Sep 2026$0.83
2026-08-04Jun 2026$0.42
2026-05-05Mar 2026$0.32
2026-02-10Dec 2025$0.30
2025-11-04Sep 2025$0.22
2025-08-05Jun 2025$0.11
2025-05-06Mar 2025$0.06
2025-02-10Dec 2024$0.03

Filings and sources

Company website
asteralabs.com
SEC filings
10-K, 10-Q and 8-K on EDGAR
Earnings calendar
All upcoming reports

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Price-to-earnings ratio · Short interest · Discounted cash flow · Free cash flow · Earnings per share · Return on equity · Gross margin vs net margin · Reading a balance sheet · Debt and leverage · Dividend yield · Insider transactions and Form 4 · How to read a stock chart

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