ALAB
Astera Labs, Inc. Common Stock
ALAB's fundamentals are strong: revenue more than doubled and its operating margin rose 11 points to 26%. At 91x earnings, it's trading below its usual 109x. Analysts expect that strong growth to continue.
ALAB Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
ALAB's revenue, profitability, cash flow and balance sheet are all currently strong.
ALAB PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 33x | $228 | — |
| Cheap | 72x | $182 | -20% |
| Current | 91x | $228 | — |
| Fair | 108x | $272 | +19% |
| Expensive | 172x | $431 | +89% |
Historical ranges are pointers, not guarantees.
ALAB's PE is in its fair range at 91x. If earnings grow as analysts expect, today's price would be 33x next year's earnings, in its cheap range.
ALAB Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Moderate | |
| High |
Analysts expect strong earnings and revenue growth for ALAB, with profitability improving.
ALAB Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $6.88 | +174% |
| Q3 2026 | $2.51 | +14% |
| Q2 2026 | $2.02 | +22% |
| Q1 2026 | $1.48 | +13% |
| Q4 2025 | $1.22 | +$1.86 |
| Q3 2025 | $2.20 | +$3.98 |
| Q2 2025 | $1.65 | +$3.40 |
| Q1 2025 | $1.31 | +$3.16 |
| Q4 2024 | -$0.64 | -$0.43 |
ALAB earned $2.51 per share over the past year, up 14% from the year before.
ALAB Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $584.9M | +154% |
| Q2 2026 | $392.4M | +104% |
| Q1 2026 | $308.4M | +93% |
| Q4 2025 | $270.6M | +92% |
| Q3 2025 | $230.6M | +104% |
| Q2 2025 | $191.9M | +150% |
| Q1 2025 | $159.4M | +144% |
| Q4 2024 | $141.1M | +179% |
ALAB's revenue has grown year over year for 13 quarters in a row: $585M last quarter, up 154% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 31% | +6.6 points |
| Q2 2026 | 23% | +2 points |
| Q1 2026 | 20% | +13 points |
| Q4 2025 | 25% | +25 points |
| Q3 2025 | 24% | +32 points |
| Q2 2025 | 21% | +52 points |
| Q1 2025 | 7.1% | +134 points |
| Q4 2024 | 0.1% | -18 points |
ALAB's operating margin was 31% last quarter, up 6.6 points from the same quarter a year ago, near the top of its range since 2022.
ALAB Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $133.9M | +103% |
| Q2 2026 | $67.2M | -50% |
| Q1 2026 | $67M | +1023% |
| Q4 2025 | $76.6M | +216% |
| Q3 2025 | $65.9M | +41% |
| Q2 2025 | $133.3M | +328% |
| Q1 2025 | $6M | +2516% |
| Q4 2024 | $24.3M | +81% |
ALAB generated $345M in free cash flow over the past year, up 50% from the year before.
ALAB Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.4% | +737K shares |
| 1 year | +1.9% | +3.4M shares |
| 3 years | +21% | +31.6M shares |
ALAB has 184M diluted shares, up 1.9% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2023 | $210,000 |
| Q3 2023 | — |
| Q2 2023 | $118,000 |
| Q1 2023 | — |
ALAB Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.5x | Net Cash |
| Q2 2026 | -0.4x | Net Cash |
| Q1 2026 | -0.6x | Net Cash |
| Q4 2025 | -0.9x | Net Cash |
| Q3 2025 | -1.3x | Net Cash |
| Q2 2025 | -3.5x | Net Cash |
ALAB has more cash than debt.
ALAB Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 43.1 | Neutral |
| Stochastic | 12.4 | Oversold |
ALAB's weekly RSI is 43 (neutral) and its Stochastic is 12 (oversold).
ALAB PE vs Technology Sector
| Metric | ALAB | Sector median | Relative |
|---|---|---|---|
| PE | 91x | 28x | 226% above |
| PE % | 33 | 17 | 16 pts above |
ALAB is trading at 91x earnings, a 226% premium to the Technology sector's median of 28x.
ALAB Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $284.7 | 20% below |
| 20 week MA | $306.9 | 26% below |
| 50 week MA | $241.4 | 5.6% below |
| 100 week MA | $182.7 | 25% above |
ALAB has pulled back, but its long-term trend is still up: it's below its 8-, 20- and 50-week averages, but 25% above its 100-week average.
ALAB Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2024 | $70.0 | $141.5 | +102% |
| 2025 | $141.5 | $167.3 | +18% |
| 2026 YTD | $167.3 | $227.8 | +36% |
ALAB has finished every year since 2024 higher, and it's up 36% so far in 2026.