Astera Labs, Inc. Common Stock (ALAB) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-139.0%

-$93.72

vs $240.43 price

Levered DCF

-$2.10

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

133.12

Safe zone

Rating

B-

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022
P/E	126.03×	-206.95×	-364.88×	-137.84×
P/B	20.3×	18.02×	60.09×	-94.87×
P/S	32.47×	43.87×	81.69×	101.31×
EV / EBITDA	122.46×	-220.13×	-444.92×	-141.22×
Gross margin	75.7%	76.4%	68.9%	73.5%
Operating margin	20.3%	-29.3%	-25.5%	-75.4%
Net margin	25.7%	-21.1%	-22.7%	-73.0%
Current ratio	10.24×	11.71×	5.3×	5.14×
Debt / equity	0.03×	0×	0.02×	-0.02×
Interest coverage	0×	0×	0×	0×
Dividend yield	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022
Return on equity	16.1%	-8.6%	-16.7%	68.4%
Return on invested capital	12.4%	-12.0%	-18.1%	-34.7%
Return on assets	14.3%	-7.9%	-13.4%	-27.6%
Free cash flow yield	1.0%	0.6%	-0.2%	-0.5%
Earnings yield	0.8%	-0.5%	-0.3%	-0.7%
Enterprise value	$27.6B	$17.3B	$9.4B	$8B
Net debt / EBITDA	-0.59×	1×	1.99×	1.31×
Cash conversion cycle (days)	65	99	206	369