ALEC
Alector, Inc.
ALEC's fundamentals are strong: revenue more than doubled and its operating margin went from −179% to 20%, though free cash flow was negative. Its PE isn't a useful guide right now because of how its recent earnings were reported.
ALEC Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Under pressure | |
| Strong |
ALEC's revenue, profitability and balance sheet are currently strong, but its cash flow is under pressure.
ALEC PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 7x | $2.45 | — |
| Cheap | 17x | $6.09 | +149% |
| Fair | 19x | $6.80 | +178% |
| Expensive | 23x | $8.15 | +233% |
Historical ranges are pointers, not guarantees.
ALEC's PE is 7.0x, but its earnings don't support one, so it isn't a reliable read right now.
ALEC Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| -- | |
| Limited | |
| Low |
Analysts expect ALEC's losses to shrink, with revenue growing. However, they disagree widely on these estimates.
ALEC Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | $0.35 | +$1.42 |
| Q2 2026 | -$1.10 | +$0.06 |
| Q1 2026 | -$1.19 | +$0.07 |
| Q4 2025 | -$1.39 | -$0.16 |
| Q3 2025 | -$1.07 | +$0.64 |
| Q2 2025 | -$1.16 | +$0.65 |
| Q1 2025 | -$1.26 | +$0.13 |
| Q4 2024 | -$1.23 | +$0.33 |
ALEC has returned to profit: it earned $0.35 per share over the past year, after losing money the year before.
ALEC Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $162.9M | +4896% |
| Q2 2026 | $3.3M | -58% |
| Q1 2026 | $1M | -72% |
| Q4 2025 | $6.2M | -89% |
| Q3 2025 | $3.3M | -79% |
| Q2 2025 | $7.9M | -48% |
| Q1 2025 | $3.7M | -77% |
| Q4 2024 | $54.2M | +257% |
ALEC's revenue is growing: $163M last quarter, up 4896% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 76% | +1230 points |
| Q2 2026 | -735% | -301 points |
| Q1 2026 | -2382% | -1174 points |
| Q4 2025 | -634% | -621 points |
| Q3 2025 | -1154% | -838 points |
| Q2 2025 | -434% | -131 points |
| Q1 2025 | -1208% | -933 points |
| Q4 2024 | -13% | +299 points |
ALEC's operating margin was 76% last quarter, up 1230 points from the same quarter a year ago, near the top of its range since 2019.
ALEC Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$24.2M | +$8.4M |
| Q2 2026 | -$34.2M | +$14.8M |
| Q1 2026 | -$49.9M | +$10.9M |
| Q4 2025 | -$41.7M | +$13.5M |
| Q3 2025 | -$32.5M | +$18.4M |
| Q2 2025 | -$49.1M | +$14.1M |
| Q1 2025 | -$60.8M | +$1.1M |
| Q4 2024 | -$55.2M | -$8.9M |
ALEC has burned cash in almost every quarter: −$150M over the past year, against −$198M the year before.
ALEC Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +1.1% | +1.3M shares |
| 1 year | +9.6% | +9.9M shares |
| 3 years | +34% | +28.5M shares |
| 5 years | +32% | +27.2M shares |
| Available history | +50% | +37.7M shares |
ALEC has 112M diluted shares, up 9.6% from a year ago.
ALEC Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -1.9x | Net Cash |
| Q2 2022 | -4.1x | Net Cash |
ALEC has more cash than debt.
ALEC Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 59.0 | Neutral |
| Stochastic | 63.4 | Neutral |
ALEC's weekly RSI is 59 (neutral) and its Stochastic is 63 (neutral).
ALEC PE vs Healthcare Sector
| Metric | ALEC | Sector median | Relative |
|---|---|---|---|
| PE | 7x | 26x | 73% below |
ALEC is trading at 7.0x earnings, a 73% discount to the Healthcare sector's median of 26x, though its earnings don't support one.
ALEC Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $2.06 | 19% above |
| 20 week MA | $1.98 | 24% above |
| 50 week MA | $1.97 | 24% above |
| 100 week MA | $1.86 | 32% above |
| 200 week MA | $3.98 | 38% below |
ALEC has bounced recently, but its long-term trend is still down: it's above its 8-, 20-, 50- and 100-week averages, but 38% below its 200-week average.
ALEC Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $17.6 | $15.3 | -13% |
| 2021 | $15.3 | $23.7 | +55% |
| 2022 | $23.7 | $8.84 | -63% |
| 2023 | $8.84 | $7.98 | -9.7% |
| 2024 | $7.98 | $1.78 | -78% |
| 2025 | $1.78 | $1.45 | -19% |
| 2026 YTD | $1.45 | $2.45 | +69% |
ALEC has finished four years in a row lower, and it's up 69% so far in 2026.