Astera Labs (ALAB) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Astera Labs

NasdaqGS•Technology•Semiconductors

$280.94+11.76(0.04%)Market open

Market Cap

$46.40B

P/E

125.6x

P/S

38.6x

P/B

26.9x

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.

How this company scores

ExcellentMetricSide Score: 85/100

Strongest: Profitability (25/25); weakest: Balance Sheet & Red Flags (15/25).

Profitability25/25

Growth22/25

Balance Sheet & Red Flags15/25

Cash & Earnings Quality23/25

Strengths

Growing revenueRising free cash flowStrong marginsHigh ROE

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 125.6x5y range 64.0x – 235.3x

Currently near its 6-quarter median.

P/S · 38.6x5y range 17.1x – 46.0x

Currently near its 7-quarter median.

P/B · 26.9x5y range 4.6x – 26.9x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Watch

FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.

Price & Volume

Market Cap $46.40B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $1.20B
Q. Revenue: $392.40M
TTM EBITDA: $285.35M
TTM Op. Income: $273.44M
Q. Op. Income: $89.25M
TTM Net Income: $369.49M
Q. Net Income: $153.09M
EPS: $0.89
Shares Out.: $172.38M

$1.20B in TTM revenue grew 98.5% YoY, reaching $392.40M last quarter. TTM EBITDA of $285.35M and TTM operating income of $273.44M show growth is flowing through to the bottom line. TTM net income of $369.49M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 73.3%
EBITDA Margin: 23.7%
Op. Margin: 22.7%
Net Margin: 39.0%

Op. margin of 22.7% is up 2.0% YoY — cost efficiency is improving. Net margin at 39.0% and gross margin of 73.3% show how much of each revenue dollar survives to profit. Over the past year, operating margin is up 10% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 125.6x
P/S Ratio: 38.6x
P/B Ratio: 26.9x

At 125.6x P/E, the stock trades above typical market levels — the market expects above-average growth. P/S of 38.6x and P/B of 26.9x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is down 16% — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $1.93B
Cash: $111.45M
Long-Term Debt: N/A
Book Value: $1.73B
D/E Ratio: N/A
Debt/EBITDA: 0.0

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $87.68M
TTM Free Cash Flow: $276.68M
FCF Margin: 23.0%
FCF / Net Income: 0.7

TTM FCF of $276.68M on $87.68M in operating cash flow. The FCF / Net Income ratio of 0.7x means free cash flow covers net income — earnings are backed by cash. Over the past year, free cash flow is up 32% — a weakening trend.