ALEC Nasdaq Biological Products, (No Diagnostic Substances) Financials FY2017βFY2025
Alector, Inc. had $21.0M of revenue in fiscal 2025, down 79.1% on the year before. Over five years, revenue changed β0.1% a year on average.
Last close Β· Oct 23, 2026
$1.83
0.0%Hi! I read Alector, Inc.βs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Are sales growing?
β79.1%
No. Sales fell 79.1% last year.
Does it make a profit?
β679.2%
No. It lost money last year.
Does profit turn into cash?
β874.7%
No. It spent more cash than it brought in.
How healthy are the accounts?
1 / 8
Weak. It passes 1 of 8 health tests.
How is the share priced?
β
No P/E: it made no profit over the last four quarters.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Is it selling more, and how much does it keep?
In plain words: Every quarter, companies publish how much they sold and earned. These are the days Alector, Inc. did it, and the next one. Share prices often move a lot on those days.
Next results
November 5, 2026
Thursday Β· in 11 days
No past results dates on file yet.
KIRA Β· Alector, Inc. had $21.0M of revenue in fiscal 2025, down 79.1% on the year before. Over five years, revenue changed β0.1% a year on average. Its operating margin was β741.3%, down 597.1Β pts: of every 100 in sales, about β741 is left after running the business.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
KIRA Β· Alector, Inc. lost $143M in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
How much cash comes in, and where does it go?
KIRA Β· Free cash flow was β$184M in fiscal 2025, β874.7% of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
KIRA Β· No open-market insider trades in the last 12 months.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
β
$0.0M
No open-market insider trades in the last 12 months.
Can it carry its debts, and how well does it use its money?
KIRA Β· Alector, Inc. has $246M more cash than debt.
Cash, debt and the ratios that show how comfortably Alector, Inc. can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $735M | $713M | $549M | $413M | $256M |
| Debt incl. finance leases | β | β | $0.0M | $10.0M | $10.4M |
| Debt / equity | β | β | 0.0x | 0.1x | 0.3x |
| Current ratio | 5.4x | 7.7x | 3.2x | 3.4x | 3.8x |
| Quick ratio | 5.4x | 7.7x | 3.2x | 3.4x | 3.8x |
| Total assets | $815M | $788M | $622M | $468M | $293M |
| Total liabilities | $514M | $573M | $488M | $342M | $263M |
| Shareholders' equity | $301M | $214M | $134M | $127M | $30.6M |
| Net debt (β = net cash) | β | β | β$549M | β$403M | β$246M |
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
KIRA Β· Alector, Inc. passes 1 of 8 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β | β | β | β |
| F-score | β / 3 | β / 4 | 1 / 7 | 2 / 7 | 4 / 7 | 2 / 7 | 0 / 7 | 2 / 8 | 1 / 8 |
| Accruals ratio | β | β58.3% | β1.7% | β5.2% | β51.4% | β14.1% | 7.6% | 20.3% | 10.8% |
| Altman Z'' | β | 2.23 | 1.97 | 0.60 | 3.43 | 2.09 | β0.98 | β3.26 | β9.85 |
Every number, year by year.
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|
| Income statement | |||||||||
| Revenue | $3.7M | $27.7M | $21.2M | $21.1M | $207M | $134M | $97.1M | $101M | $21.0M |
| Research and development | $29.9M | $73.0M | $101M | $157M | $189M | $210M | $192M | $186M | $123M |
| Operating income | β$32.7M | β$57.3M | β$114M | β$195M | β$37.4M | β$138M | β$152M | β$145M | β$156M |
| Pretax income | β | β | β | β$190M | β$36.3M | β$130M | β$125M | β$119M | β$143M |
| Income tax | β | β | $0.0M | $0.0M | $0.0M | $3.3M | $5.2M | $0.1M | $0.2M |
| Net income | β$32.5M | β$52.2M | β$105M | β$190M | β$36.3M | β$133M | β$130M | β$119M | β$143M |
| Diluted EPS | β$3.55 | β$4.62 | β$1.71 | β$2.45 | β$0.45 | β$1.62 | β$1.56 | β$1.23 | β$1.39 |
| Diluted shares | 0.01B | 0.01B | 0.06B | 0.08B | 0.08B | 0.08B | 0.08B | 0.10B | 0.10B |
| Cash flow | |||||||||
| Cash from operations | β$17.8M | $127M | β$99.3M | β$167M | $299M | β$20.3M | β$184M | β$230M | β$184M |
| Capital expenditure | $0.8M | $1.9M | $15.3M | $5.0M | $3.2M | $4.1M | $2.4M | $1.3M | $0.0M |
| Free cash flow | β$18.6M | $126M | β$115M | β$172M | $295M | β$24.4M | β$187M | β$231M | β$184M |
| Depreciation and amortization | $0.7M | $1.0M | $3.8M | $5.9M | $6.3M | $5.7M | $5.7M | $5.4M | $5.7M |
| Stock-based compensation | $5.4M | $6.9M | $16.3M | $30.5M | $40.8M | $46.1M | $42.8M | $39.5M | $26.7M |
| Balance sheet | |||||||||
| Cash and short-term investments | $32.5M | $290M | $353M | $413M | $735M | $713M | $549M | $413M | $256M |
| Total debt | β | β | β | β | β | β | $0.0M | $10.0M | $10.4M |
| Current assets | β | $293M | $357M | $422M | $750M | $726M | $566M | $425M | $266M |
| Current liabilities | β | $47.9M | $62.0M | $68.1M | $140M | $93.8M | $178M | $125M | $69.5M |
| Property and equipment, net | β | $10.9M | $33.9M | $30.2M | $27.3M | $25.5M | $21.9M | $17.1M | $10.8M |
| Total assets | β | $308M | $422M | $488M | $815M | $788M | $622M | $468M | $293M |
| Total liabilities | β | $195M | $227M | $221M | $514M | $573M | $488M | $342M | $263M |
| Shareholders' equity | β$52.0M | β$97.4M | $195M | $268M | $301M | $214M | $134M | $127M | $30.6M |
| Margins | |||||||||
| Operating margin | β874.9% | β207.0% | β539.2% | β925.1% | β18.0% | β103.2% | β156.3% | β144.2% | β741.3% |
| EBITDA margin | β856.7% | β203.3% | β521.4% | β897.3% | β15.0% | β98.9% | β150.4% | β138.8% | β714.1% |
| Net margin | β869.6% | β188.8% | β496.7% | β901.6% | β17.5% | β99.8% | β134.3% | β118.4% | β679.2% |
| FCF margin | β497.2% | 453.7% | β540.0% | β814.1% | 142.6% | β18.3% | β192.1% | β229.9% | β874.7% |
| Returns | |||||||||
| Return on capital employed | β | β22.0% | β31.8% | β46.5% | β5.5% | β19.9% | β34.2% | β42.2% | β69.7% |
| Return on equity | β | β | β216.5% | β82.3% | β12.8% | β51.8% | β74.8% | β91.2% | β181.6% |
| Return on assets | β | β16.9% | β28.9% | β41.8% | β5.6% | β16.6% | β18.5% | β21.8% | β37.5% |
| Return on tangible equity | β | β | β54.1% | β71.1% | β12.1% | β62.2% | β97.2% | β93.9% | β466.3% |
| Growth | |||||||||
| Revenue growth | β | 641.0% | β23.3% | β0.6% | 881.5% | β35.5% | β27.3% | 3.6% | β79.1% |
| FCF growth | β | β | β191.2% | β | β | β108.3% | β | β | β |
| Share count change | β | 23.6% | 446.2% | 26.0% | 3.4% | 2.6% | 1.5% | 15.4% | 6.6% |
| Financial health | |||||||||
| Debt / equity | β | β | β | β | β | β | 0.0x | 0.1x | 0.3x |
| Current ratio | β | 6.1x | 5.8x | 6.2x | 5.4x | 7.7x | 3.2x | 3.4x | 3.8x |
| Quick ratio | β | 6.1x | 5.8x | 6.2x | 5.4x | 7.7x | 3.2x | 3.4x | 3.8x |
| Capital allocation | |||||||||
| Capex / revenue | 21.4% | 6.8% | 71.9% | 23.9% | 1.6% | 3.1% | 2.5% | 1.2% | 0.2% |
| Stock comp / revenue | 143.3% | 25.0% | 76.7% | 144.7% | 19.7% | 34.5% | 44.1% | 39.2% | 126.7% |
| Quality scores | |||||||||
| Piotroski F-score | β | β | 1.0 | 2.0 | 4.0 | 2.0 | 0.0 | 2.0 | 1.0 |
| Altman Z'' | β | 2.2 | 2.0 | 0.6 | 3.4 | 2.1 | β1.0 | β3.3 | β9.9 |
| Accruals ratio | β | β58.3% | β1.7% | β5.2% | β51.4% | β14.1% | 7.6% | 20.3% | 10.8% |
Source: SEC EDGAR XBRL filings (CIK 0001653087). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β not investment advice. Check the original filings before relying on any figure.
