ALX Oncology Holdings (ALXO) Stock Fundamentals, Analysis & Risk Signals

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

ALX Oncology Holdings

NasdaqGS•Healthcare•Biotechnology

$1.70-0.04(-0.02%)After hours

Market Cap

$231.94M

P/B

1.7x

ALX Oncology Holdings Inc., a clinical-stage immuno-oncology company, focuses on developing therapies for cancer patients in the United States. The company's lead product candidate is Evorpacept, a CD47 blocking therapeutic biologic development as a combination therapy with other anti-cancer agents, including ASPEN-06, under phase 2 clinical study for treating Gastric/GEJ cancer. It has collaboration agreement for Evorpacept combination programs comprising Jazz Pharmaceuticals plc for zanidatamab, under phase 1b/2 trial for the treatment of breast cancer and other solid tumors; HER2 with an ADC, fam-trastuzumab deruxtecan-nxki, under phase 1 trial for the treatment of patients with breast cancer; ALX2004, under phase 1 clinical trial for treating solid tumors; MD Anderson Cancer Center with rituximab and lenalidomide for the treatment of patients with indolent and aggressive NHL; and Sanofi with isatuximab and dexamethasone, under phase 1/2 trial for the treatment of patients with relapsed or refractory multiple myeloma. It has license agreements with Board of Trustees of Leland Stanford Junior University. The company was incorporated in 2015 and is headquartered in South San Francisco, California.

How this company scores

WeakMetricSide Score: 42/100

Grade capped at D — Interest coverage below 1× (-72.4x) — earnings cannot cover interest. Strongest: Balance Sheet & Red Flags (17/25); weakest: Growth (6/25).

Profitability11/25

Growth6/25

Balance Sheet & Red Flags17/25

Cash & Earnings Quality8/25

Strengths

Low leverageProfit converts from growthImproving leverageNet cash position

Grade capped at D

Interest coverage below 1× (-72.4x) — earnings cannot cover interest.

Valuation vs. 5-year range

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

P/S · 9048.7x5y range 9048.7x – 9048.7x

P/B · 1.7x5y range 0.7x – 15.4x

Currently below its 20-quarter median.

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

Red Flag

Free cash flow has been negative in 8 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $231.94M

Metrics at a Glance

as of June 2026

Revenue & Profit

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

TTM Revenue: $0
Q. Revenue: $0
TTM EBITDA: $-81.67M
TTM Op. Income: $-82.55M
Q. Op. Income: $-18.03M
TTM Net Income: $-80.89M
Q. Net Income: $-17.97M
EPS: $-0.13
Shares Out.: $135.64M

$0 in TTM revenue was flat at zero YoY, reaching $0 last quarter. TTM EBITDA of $-81.67M and TTM operating income of $-82.55M show growth is flowing through to the bottom line. However, net income is negative at $80.89M — growth is not yet reaching the bottom line.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: N/A
Op. Margin: -1803300000.0%
Net Margin: -1797100000.0%

Op. margin of -1803300000.0% is up 861500000.0% YoY — cost efficiency is improving. Net margin at -1797100000.0% Across the last 8 quarters, operating margin has risen for 2 consecutive quarters — an improving trend.

Price Ratios

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

P/E Ratio: N/A
P/S Ratio: N/A
P/B Ratio: 1.7x

P/S of 0.0x and P/B of 1.7x.

Assets & Liabilities

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

Total Assets: $160.82M
Cash: $22.69M
Long-Term Debt: $9.71M
Book Value: $136.19M
D/E Ratio: 0.1
Debt/EBITDA: N/A

With $160.82M in assets and $9.71M in long-term debt, D/E is 0.1and book value is $136.19M — a conservative capital structure with a cushion to weather downturns. Over the past year, debt/equity is down 34% — a weakening trend.

Cash Flow

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

Op. Cash Flow: $-16.06M
TTM Free Cash Flow: $-70.95M
FCF Margin: N/A
FCF / Net Income: 0.9

TTM FCF of $-70.95M on $-16.06M in operating cash flow. The FCF / Net Income ratio of 0.9x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has risen for 7 consecutive quarters — an improving trend.