ALAB Nasdaq Semiconductors & Related Devices Financials FY2022βFY2025
Astera Labs, Inc. had $853M of revenue in fiscal 2025, up 115.1% on the year before.
Last close Β· Oct 23, 2026
$257.16
0.3%Hi! I read Astera Labs, Inc.βs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Are sales growing?
+115.1%
Yes. Sales grew 115.1% last year.
Does it make a profit?
25.7%
Yes. It keeps 25.7% of every sale as profit.
Does profit turn into cash?
33.1%
Yes. 33.1% of sales ends up as free cash.
How healthy are the accounts?
5 / 8
Mixed. It passes 5 of 8 health tests.
How is the share priced?
127.3x
One share costs 127.3 times its yearly profit per share.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Is it selling more, and how much does it keep?
KIRA Β· Astera Labs, Inc. had $853M of revenue in fiscal 2025, up 115.1% on the year before. Its operating margin was 20.3%, up 49.6Β pts: of every 100 in sales, about 20 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).
Revenue
Revenue
Margins, % of revenue
Margins, % of revenue
KIRA Β· Astera Labs, Inc. made $219M of net profit 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.
Net income
Net income
Diluted EPS
Diluted EPS
How much cash comes in, and where does it go?
KIRA Β· Free cash flow was $282M in fiscal 2025, 33.1% 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.
Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations vs capital spending
KIRA Β· Astera Labs, Inc. returned $0.0M to shareholders in fiscal 2025, 0% of free cash flow. The diluted share count rose 36.8%.
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).
Dividends and buybacks
Diluted shares outstanding (annual)
KIRA Β· In the last 12 months, insiders sold $782M of shares on the open market and bought none.
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
$782M
8 insiders
Of sales under plans
79%
$618M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Oct 7, 2026 | Stefan A DyckerhoffDirector | Sold plan | 12,499 | $376.06 | $4.7M | Form 4 |
| Sep 2, 2026 | Stefan A DyckerhoffDirector | Sold plan | 12,499 | $274.96 | $3.4M | Form 4 |
| Sep 1, 2026 | Manuel AlbaDirector | Sold plan | 183,000 | $280.13 | $51.3M | Form 4 |
| Aug 17, 2026 | Philip MazzaraGeneral Counsel and Secretary | Sold | 6,801 | $340.50 | $2.3M | Form 4 |
| Aug 17, 2026 | Sanjay GajendraPresident and COO, Director | Sold | 90,630 | $340.35 | $30.8M | Form 4 |
| Aug 17, 2026 | Jitendra MohanChief Executive Officer, Director | Sold | 90,630 | $340.35 | $30.8M | Form 4 |
| Aug 6, 2026 | Stefan A DyckerhoffDirector | Sold plan | 12,499 | $311.83 | $3.9M | Form 4 |
| Jul 1, 2026 | Manuel AlbaDirector | Sold plan | 8,491 | $458.38 | $3.9M | Form 4 |
| Jul 1, 2026 | Manuel AlbaDirector | Sold plan | 37,535 | $447.39 | $16.8M | Form 4 |
| Jul 1, 2026 | Manuel AlbaDirector | Sold plan | 136,974 | $442.01 | $60.5M | Form 4 |
| Jul 1, 2026 | Stefan A DyckerhoffDirector | Sold plan | 12,499 | $450.00 | $5.6M | Form 4 |
| Jun 24, 2026 | Bethany MayerDirector | Sold plan | 686 | $395.04 | $0.3M | Form 4 |
| Jun 4, 2026 | Jack R LazarDirector | Sold plan | 10,000 | $355.17 | $3.6M | Form 4 |
| Jun 3, 2026 | Stefan A DyckerhoffDirector | Sold plan | 12,499 | $364.35 | $4.6M | Form 4 |
| May 21, 2026 | Philip MazzaraGeneral Counsel and Secretary | Sold | 796 | $291.03 | $0.2M | Form 4 |
| May 21, 2026 | Sanjay GajendraPresident and COO, Director | Sold plan | 400,000 | $290.30 | $116M | Form 4 |
| May 19, 2026 | Sanjay GajendraPresident and COO, Director | Sold plan | 280,000 | $249.19 | $69.8M | Form 4 |
| May 19, 2026 | Jitendra MohanChief Executive Officer, Director | Sold plan | 28,737 | $249.62 | $7.2M | Form 4 |
| May 18, 2026 | Jitendra MohanChief Executive Officer, Director | Sold plan | 111,214 | $216.89 | $24.1M | Form 4 |
| May 18, 2026 | Jitendra MohanChief Executive Officer, Director | Sold | 95,444 | $225.02 | $21.5M | Form 4 |
| May 18, 2026 | Sanjay GajendraPresident and COO, Director | Sold | 95,444 | $225.02 | $21.5M | Form 4 |
| May 18, 2026 | Philip MazzaraGeneral Counsel and Secretary | Sold | 14,076 | $231.78 | $3.3M | Form 4 |
| May 7, 2026 | Sanjay GajendraPresident and COO, Director | Sold plan | 230,639 | $198.22 | $45.7M | Form 4 |
| May 7, 2026 | Sanjay GajendraPresident and COO, Director | Sold plan | 41,498 | $198.78 | $8.2M | Form 4 |
| May 7, 2026 | Stefan A DyckerhoffDirector | Sold plan | 12,499 | $200.03 | $2.5M | Form 4 |
| May 7, 2026 | Jitendra MohanChief Executive Officer, Director | Sold plan | 139,951 | $200.17 | $28.0M | Form 4 |
| Apr 20, 2026 | Stefan A DyckerhoffDirector | Sold plan | 13,399 | $175.12 | $2.3M | Form 4 |
| Apr 20, 2026 | Jitendra MohanChief Executive Officer, Director | Sold plan | 10,188 | $175.44 | $1.8M | Form 4 |
| Apr 17, 2026 | Stefan A DyckerhoffDirector | Sold plan | 11,599 | $175.00 | $2.0M | Form 4 |
| Apr 17, 2026 | Jitendra MohanChief Executive Officer, Director | Sold plan | 325,693 | $172.14 | $56.1M | Form 4 |
| Apr 15, 2026 | Jitendra MohanChief Executive Officer, Director | Sold plan | 2,967 | $174.60 | $0.5M | Form 4 |
| Apr 10, 2026 | Jitendra MohanChief Executive Officer, Director | Sold plan | 123,750 | $149.67 | $18.5M | Form 4 |
| Apr 1, 2026 | Manuel AlbaDirector | Sold plan | 183,000 | $107.61 | $19.7M | Form 4 |
| Apr 1, 2026 | Philip MazzaraGeneral Counsel and Secretary | Sold plan | 10,000 | $107.76 | $1.1M | Form 4 |
| Mar 17, 2026 | Jitendra MohanChief Executive Officer, Director | Sold plan | 157,500 | $131.58 | $20.7M | Form 4 |
| Mar 16, 2026 | Jack R LazarDirector | Sold plan | 2,500 | $130.00 | $0.3M | Form 4 |
| Mar 5, 2026 | Jack R LazarDirector | Sold plan | 7,500 | $119.79 | $0.9M | Form 4 |
| Mar 2, 2026 | Philip MazzaraGeneral Counsel and Secretary | Sold plan | 10,000 | $117.48 | $1.2M | Form 4 |
| Feb 17, 2026 | Michael Truett TateChief Financial Officer | Sold | 12,001 | $123.80 | $1.5M | Form 4 |
| Feb 17, 2026 | Sanjay GajendraPresident and COO, Director | Sold | 94,971 | $123.81 | $11.8M | Form 4 |
| Feb 17, 2026 | Philip MazzaraGeneral Counsel and Secretary | Sold | 4,849 | $123.80 | $0.6M | Form 4 |
| Feb 17, 2026 | Jitendra MohanChief Executive Officer, Director | Sold | 94,971 | $123.81 | $11.8M | Form 4 |
| Jan 2, 2026 | Philip MazzaraGeneral Counsel and Secretary | Sold plan | 10,000 | $178.41 | $1.8M | Form 4 |
| Dec 1, 2025 | Manuel AlbaDirector | Sold plan | 33,000 | $166.18 | $5.5M | Form 4 |
| Dec 1, 2025 | Manuel AlbaDirector | Sold plan | 150,000 | $166.18 | $24.9M | Form 4 |
| Nov 20, 2025 | Jack R LazarDirector | Sold plan | 2,500 | $149.55 | $0.4M | Form 4 |
| Nov 17, 2025 | Sanjay GajendraPresident and COO, Director | Sold | 90,459 | $144.69 | $13.1M | Form 4 |
| Nov 17, 2025 | Philip MazzaraGeneral Counsel and Secretary | Sold | 4,620 | $144.69 | $0.7M | Form 4 |
| Nov 17, 2025 | Michael Truett TateChief Financial Officer | Sold | 11,430 | $144.69 | $1.7M | Form 4 |
| Nov 17, 2025 | Jitendra MohanChief Executive Officer, Director | Sold | 90,459 | $144.69 | $13.1M | Form 4 |
| Oct 1, 2025 | Philip MazzaraGeneral Counsel and Secretary | Sold plan | 10,000 | $192.16 | $1.9M | Form 4 |
Can it carry its debts, and how well does it use its money?
Cash, debt and the ratios that show how comfortably Astera Labs, 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.
Cash vs debt (incl. leases)
| Fiscal year end | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Cash and short-term investments | $76.1M | $149M | $914M | $1.2B |
| Current ratio | β | 5.3x | 11.7x | 10.2x |
| Quick ratio | β | 4.6x | 11.2x | 9.8x |
| Total assets | β | $196M | $1.1B | $1.5B |
| Total liabilities | β | $38.9M | $89.7M | $168M |
| Shareholders' equity | β$85.3M | β$97.7M | $965M | $1.4B |
| Net debt (β = net cash) | β | β | β | β |
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.
Return on capital, equity and assets (annual)
KIRA Β· Astera Labs, Inc. passes 5 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 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Net income is positive | β | β | β | β |
| Cash from operations is positive | β | β | β | β |
| Return on assets rose | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β |
| Debt fell relative to assets | β | β | β | β |
| Current ratio rose | β | β | β | β |
| Share count didn't rise | β | β | β | β |
| Gross margin rose | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β |
| F-score | β / 3 | β / 5 | 5 / 8 | 5 / 8 |
| Accruals ratio | β | β6.9% | β35.2% | β7.7% |
| Altman Z'' | β | β0.69 | 15.67 | 14.56 |
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 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Income statement | ||||
| Revenue | $79.9M | $116M | $396M | $853M |
| Gross profit | $58.7M | $79.8M | $303M | $645M |
| Research and development | $73.7M | $73.4M | $201M | $304M |
| Operating income | β$60.2M | β$29.5M | β$116M | $173M |
| Pretax income | β$57.6M | β$22.9M | β$81.8M | $218M |
| Income tax | $0.8M | $3.3M | $1.6M | β$1.0M |
| Net income | β$58.3M | β$26.3M | β$83.4M | $219M |
| Diluted EPS | β$1.71 | β$0.71 | β$0.64 | $1.22 |
| Diluted shares | 0.03B | 0.04B | 0.13B | 0.18B |
| Cash flow | ||||
| Cash from operations | β$35.9M | β$12.7M | $137M | $319M |
| Capital expenditure | $3.9M | $2.8M | $34.2M | $37.5M |
| Free cash flow | β$39.8M | β$15.5M | $102M | $282M |
| Depreciation and amortization | $0.8M | $1.8M | $3.2M | $6.8M |
| Stock-based compensation | $30.2M | $10.7M | $235M | $160M |
| Acquisitions | β | $0.0M | $0.0M | $28.8M |
| Share buybacks | $0.3M | $0.2M | $1.1M | $0.0M |
| Dividends and buybacks | $0.3M | $0.2M | $1.1M | $0.0M |
| Balance sheet | ||||
| Cash and short-term investments | $76.1M | $149M | $914M | $1.2B |
| Current assets | β | $186M | $1.0B | $1.4B |
| Current liabilities | β | $35.1M | $86.5M | $133M |
| Inventory | β | $24.1M | $43.2M | $59.0M |
| Property and equipment, net | β | $4.7M | $35.7M | $92.0M |
| Goodwill | β | β | β | $19.0M |
| Total assets | β | $196M | $1.1B | $1.5B |
| Total liabilities | β | $38.9M | $89.7M | $168M |
| Shareholders' equity | β$85.3M | β$97.7M | $965M | $1.4B |
| Margins | ||||
| Gross margin | 73.5% | 68.9% | 76.4% | 75.7% |
| Operating margin | β75.4% | β25.5% | β29.3% | 20.3% |
| EBITDA margin | β74.4% | β23.9% | β28.5% | 21.1% |
| Net margin | β73.0% | β22.7% | β21.1% | 25.7% |
| FCF margin | β49.8% | β13.4% | 25.8% | 33.1% |
| Returns | ||||
| Return on capital employed | β | β18.3% | β12.0% | 12.4% |
| Return on equity | β | β | β19.2% | 18.8% |
| Return on assets | β | β13.4% | β13.3% | 16.9% |
| Return on tangible equity | β | β | β8.6% | 16.3% |
| Growth | ||||
| Revenue growth | β | 45.0% | 242.2% | 115.1% |
| FCF growth | β | β | β | 175.1% |
| Share count change | β | 8.7% | 253.5% | 36.8% |
| Financial health | ||||
| Current ratio | β | 5.3x | 11.7x | 10.2x |
| Quick ratio | β | 4.6x | 11.2x | 9.8x |
| Capital allocation | ||||
| Capex / revenue | 4.8% | 2.4% | 8.6% | 4.4% |
| Stock comp / revenue | 37.9% | 9.2% | 59.2% | 18.8% |
| Payouts / FCF | β | β | 1.0% | 0.0% |
| Quality scores | ||||
| Piotroski F-score | β | β | 5.0 | 5.0 |
| Altman Z'' | β | β0.7 | 15.7 | 14.6 |
| Accruals ratio | β | β6.9% | β35.2% | β7.7% |
Source: SEC EDGAR XBRL filings (CIK 0001736297). 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.
