COMPOSITE RISK SCORE
64
MODERATE
VAL:4/25 · FIN:18/25 · GRO:20/25 · TECH:22/25
📈 P/E RATIO
149.7x
Trailing
📖 P/B RATIO
22.8x
Price to Book
🏛 MARKET CAP
$31.3B
Large Cap
📊 ROE
18.8%
Return on Equity
Overview
Technical
Financials
Analysis
Verdict
🏢 Company Analysis · Astera Labs, Inc.
💼 BUSINESS MODEL
Astera Labs, Inc.. designs, manufactures, and sells semiconductor-based connectivity solutions for cloud and AI infrastructure.. It offers an intelligent connectivity platform, comprised of semiconductor-based, high-speed, mixed-signal connectivity products that integrate a matrix of microcontrollers and sensors, and COSMOS.. The company provides COSMOS software suite, a connectivity system management and optimization software that enables management and optimization of resources for large fleets at cloud-scale via link, fleet, and RAS management capabilities.. Operates in Semiconductors within the Technology sector. Workforce of 756 employees.
🏰 MOAT & COMPETITION
Large-cap ($31B) — established player with meaningful market presence. ROE of 18.8% — decent but not exceptional capital efficiency. Profit margin of 25.7% suggests pricing power / cost moat.
🚀 CATALYSTS
Revenue growing at 92% — strong top-line momentum. Earnings growth of 84% signals execution on profitability.
⚖️ ASYMMETRY CHECK
Analyst target range: $140 — $250 (mean $203, 21 analysts). Moderate asymmetry — upside +37% vs downside -23% (1.6x).P/E of 149.7x — premium valuation , growth must sustain to avoid de-rating risk.
🔭 FUTURE OUTLOOK
Analyst consensus: Buy (21 analysts). Latest quarter earnings grew 82% YoY — positive trajectory.
P/E at 150x
P/B at 22.8x
Analyst target: $202.86 (+11.1%)
1Y return: +176.4%
ROE: 18.8%
Profit margin: 25.7%
Revenue growth: 91.8%
Debt/Equity: 2%
Revenue growth: 91.8%
Earnings growth: 83.6%
Beta: 1.79
Sector: Technology
RSI, MACD, MA crossovers
200 DMA & 50 EMA position
Volume trend analysis
Price momentum signals
📈 Price Movement
1D 1W 1M
6M 1Y 3Y 5Y
🕯 Candlestick Chart
1D 1W 1M
6M 1Y 3Y 5Y
🎯 Price Prediction · Analyst Target Cone
📉 Valuation Trends (at current CMP)
P/E P/B MCap/Sales EPS
Insufficient P/E data
37.3
32.8
28.4
23.9
19.5
2024
2025
2024: 32.4 2025: 22.9 22.9
450.4
345.6
240.8
136.0
31.2
2022
2023
2024
2025
2022: 391.7 2023: 270.2 2024: 78.9 2025: 36.7 36.7
Insufficient EPS data
💎 Valuation & Financial Metrics
P/E RATIO
149.7x
Trailing twelve months
P/B RATIO
22.8x
Price to Book value
PROFIT MARGIN
25.7%
Net profit margin
OPM
24.7%
Operating profit margin
ANALYST TARGET
$202.86
Range: $140.00 - $250.00
PEG RATIO
N/A
Price/Earnings to Growth
EV/EBITDA
179.3x
Enterprise value ratio
CURRENT RATIO
10.24
Liquidity measure
DIVIDEND YIELD
N/A
Annual yield
GROSS MARGIN
75.7%
Gross profit margin
SECTOR BENCHMARKS — SEMICONDUCTORS
P/E (fair) 35.0x (sector mid)
P/B (fair) 8.0x (sector mid)
ROE (good) 25% (sector target)
OPM (good) 25% (sector target)
D/E comfort <20 (sector)
📋 Quarterly Performance Trend
Quarter Revenue QoQ % Net Profit QoQ % Op. Cash Flow EBITDA Margin
Q4 '24
$141.1M —
$24.7M —
$39.7M
0.8%
Q1 '25
$159.4M +13.0%
$31.8M +28.8%
$10.5M
7.8%
Q2 '25
$191.9M +20.4%
$51.2M +61.0%
$135.4M
21.4%
Q3 '25
$230.6M +20.1%
$91.1M +77.9%
$78.2M
24.7%
Q4 '25
$270.6M +17.4%
$45.0M -50.6%
$95.3M
25.8%
📊 Year-on-Year Trend
FY Revenue YoY % Net Profit YoY % Op. Cash Flow YoY %
2022
$79.9M —
$-58.3M —
$-35.9M —
2023
$115.8M +45.0%
$-26.3M +55.0%
$-12.7M +64.6%
2024
$396.3M +242.2%
$-83.4M -217.7%
$136.7M +1174.8%
2025
$852.5M +115.1%
$219.1M +362.7%
$319.3M +133.6%
📈 Revenue vs Earnings
Quarterly
Annual
💰 How Astera Labs, Inc. Makes Its Money
Quarterly
Annual
Revenue
$271M
Cost of Revenue
$66M
Gross Profit
$204M
R&D
$94M
SG&A
$44M
Operating Inc.
$67M
Tax
$34M
Net Income
$45M
(16.6% margin)
Dec 2025 · All values in $ Millions
Revenue
$231M
Cost of Revenue
$55M
Gross Profit
$176M
R&D
$79M
SG&A
$41M
Operating Inc.
$55M
Net Income
$91M
(39.5% margin)
Sep 2025 · All values in $ Millions
Revenue
$192M
Cost of Revenue
$46M
Gross Profit
$146M
R&D
$67M
SG&A
$39M
Operating Inc.
$40M
Net Income
$51M
(26.7% margin)
Jun 2025 · All values in $ Millions
Revenue
$159M
Cost of Revenue
$40M
Gross Profit
$119M
R&D
$65M
SG&A
$44M
Operating Inc.
$11M
Net Income
$32M
(20.0% margin)
Mar 2025 · All values in $ Millions
Revenue
$853M
Cost of Revenue
$207M
Gross Profit
$645M
R&D
$304M
SG&A
$168M
Operating Inc.
$173M
Net Income
$219M
(25.7% margin)
Dec 2025 · All values in $ Millions
Revenue
$396M
Cost of Revenue
$94M
Gross Profit
$303M
R&D
$201M
SG&A
$218M
Operating Inc.
-$116M
Net Income
-$83M
(-21.1% margin)
Dec 2024 · All values in $ Millions
Revenue
$116M
Cost of Revenue
$36M
Gross Profit
$80M
R&D
$73M
SG&A
$36M
Operating Inc.
-$29M
Tax
$3M
Net Income
-$26M
(-22.7% margin)
Dec 2023 · All values in $ Millions
Revenue
$80M
Cost of Revenue
$21M
Gross Profit
$59M
R&D
$74M
SG&A
$45M
Operating Inc.
-$60M
Tax
$0.8M
Net Income
-$58M
(-73.0% margin)
Dec 2022 · All values in $ Millions
Dec 2025
Sep 2025
Jun 2025
Mar 2025
🏦 Snapshot of Astera Labs, Inc.'s Balance Sheet
Quarterly
Annual
Total Assets
$1.5B
Cash & Equiv.: $168M (10.9%)
Receivables: $83M (5.4%)
Inventory: $59M (3.9%)
Other Current: $1.1B (68.7%)
PP&E: $92M (6.0%)
Other Non-Curr.: $78M (5.1%)
Liab. + Equity
$1.5B
Current Liab.: $133M (8.7%)
Other Liab.: $35M (2.3%)
Equity: $1.4B (89.0%)
As of Dec 2025 · All values in $ Millions
Total Assets
$1.4B
Cash & Equiv.: $140M (10.0%)
Receivables: $43M (3.1%)
Inventory: $52M (3.7%)
Other Current: $1.1B (75.3%)
PP&E: $72M (5.2%)
Other Non-Curr.: $39M (2.8%)
Liab. + Equity
$1.4B
Current Liab.: $101M (7.2%)
Other Liab.: $28M (2.0%)
Equity: $1.3B (90.8%)
As of Sep 2025 · All values in $ Millions
Total Assets
$1.3B
Cash & Equiv.: $162M (12.8%)
Receivables: $24M (1.9%)
Inventory: $59M (4.6%)
Other Current: $936M (73.6%)
PP&E: $62M (4.9%)
Other Non-Curr.: $29M (2.2%)
Liab. + Equity
$1.3B
Current Liab.: $106M (8.4%)
Other Liab.: $29M (2.3%)
Equity: $1.1B (89.3%)
As of Jun 2025 · All values in $ Millions
Total Assets
$1.1B
Cash & Equiv.: $86M (7.7%)
Receivables: $70M (6.2%)
Inventory: $51M (4.6%)
Other Current: $869M (77.4%)
PP&E: $39M (3.5%)
Liab. + Equity
$1.1B
Current Liab.: $77M (6.9%)
Equity: $1.0B (92.9%)
As of Mar 2025 · All values in $ Millions
Total Assets
$1.5B
Cash & Equiv.: $168M (10.9%)
Receivables: $83M (5.4%)
Inventory: $59M (3.9%)
Other Current: $1.1B (68.7%)
PP&E: $92M (6.0%)
Other Non-Curr.: $78M (5.1%)
Liab. + Equity
$1.5B
Current Liab.: $133M (8.7%)
Other Liab.: $35M (2.3%)
Equity: $1.4B (89.0%)
As of Dec 2025 · All values in $ Millions
Total Assets
$1.1B
Cash & Equiv.: $80M (7.5%)
Receivables: $39M (3.7%)
Inventory: $43M (4.1%)
Other Current: $851M (80.7%)
PP&E: $36M (3.4%)
Liab. + Equity
$1.1B
Current Liab.: $87M (8.2%)
Equity: $965M (91.5%)
As of Dec 2024 · All values in $ Millions
Total Assets
$196M
Cash & Equiv.: $45M (23.0%)
Receivables: $8M (4.2%)
Inventory: $24M (12.3%)
Other Current: $108M (55.2%)
PP&E: $5M (2.4%)
Other Non-Curr.: $6M (2.9%)
Liab. + Equity
$196M
Current Liab.: $35M (17.9%)
Other Liab.: $259M (131.9%)
Equity: $98M (49.8%)
As of Dec 2023 · All values in $ Millions
Total Assets
$212M
Cash & Equiv.: $76M (35.9%)
Receivables: $11M (5.1%)
Inventory: $29M (13.6%)
Other Current: $90M (42.7%)
PP&E: $4M (1.7%)
Liab. + Equity
$212M
Current Liab.: $40M (18.9%)
Other Liab.: $257M (121.3%)
Equity: $85M (40.3%)
As of Dec 2022 · All values in $ Millions
Dec 2025
Sep 2025
Jun 2025
Mar 2025
💸 Looking into Astera Labs, Inc.'s Cash Flow
Quarterly
Annual
Operating CF
$95M
Capital Exp.
$19M
Free Cash Flow
$77M
Retained / Other
$77M
FY2025 · All values in $ Millions
Operating CF
$78M
Capital Exp.
$12M
Free Cash Flow
$66M
Retained / Other
$66M
FY2025 · All values in $ Millions
Operating CF
$135M
Capital Exp.
$2M
Free Cash Flow
$133M
Retained / Other
$133M
FY2025 · All values in $ Millions
Operating CF
$11M
Capital Exp.
$5M
Free Cash Flow
$6M
Retained / Other
$6M
FY2025 · All values in $ Millions
Operating CF
$319M
Capital Exp.
$38M
Free Cash Flow
$282M
Retained / Other
$282M
FY2025 · All values in $ Millions
Operating CF
$137M
Capital Exp.
$34M
Free Cash Flow
$102M
Retained / Other
$101M
FY2024 · All values in $ Millions
FY2025
FY2025
FY2025
FY2025
🎯 EPS: Estimate vs Actual
Estimates
Quarterly
Annual
📅 Quarterly Results
Item Dec '25 Sep '25 Jun '25 Mar '25 Dec '24 Total Revenue $270.6M $230.6M $191.9M $159.4M $141.1M Cost of Revenue $66.1M $54.8M $46.4M $40.0M $36.6M Gross Profit $204.5M $175.8M $145.6M $119.4M $104.4M Operating Expense $137.5M $120.4M $105.8M $108.1M $104.3M Operating Income $67.0M $55.4M $39.8M $11.3M $144.0K Interest Expense $12.0M $11.5M $10.9M $10.4M $10.6M Pretax Income $78.9M $66.9M $50.7M $21.7M $10.7M Tax Provision $33.9M $-24.3M $-560.0K $-10.1M $-14.0M Net Income $45.0M $91.1M $51.2M $31.8M $24.7M EBITDA $69.8M $56.9M $41.2M $12.4M $1.1M EPS (Basic) $0.27 $0.54 $0.31 $0.19 $0.15 EPS (Diluted) $0.25 $0.50 $0.29 $0.18 $0.14 Shares Outstanding 181.2M 180.6M 178.1M 178.1M 177.6M
📊 Profit & Loss Statement
Item Dec '25 Dec '24 Dec '23 Dec '22 Total Revenue $852.5M $396.3M $115.8M $79.9M Cost of Revenue $207.3M $93.6M $36.0M $21.2M Gross Profit $645.3M $302.7M $79.8M $58.7M Operating Expense $471.8M $418.8M $109.3M $118.9M Operating Income $173.4M $-116.1M $-29.5M $-60.2M Interest Expense $44.7M $34.3M $6.5M $2.6M Pretax Income $218.2M $-81.8M $-22.9M $-57.6M Tax Provision $-981.0K $1.6M $3.3M $764.0K Net Income $219.1M $-83.4M $-26.3M $-58.3M EBITDA $180.3M $-112.9M $-27.7M $-59.4M EPS (Basic) $1.32 $-0.64 $-0.17 $-0.45 EPS (Diluted) $1.22 $-0.64 $-0.17 $-0.45 Shares Outstanding 179.6M 131.3M 152.5M 130.5M
🏦 Balance Sheet
Item Dec '25 Dec '24 Dec '23 Dec '22 Total Assets $1.53B $1.05B $196.3M $211.7M Current Assets $1.36B $1.01B $185.8M $206.0M Cash & Equivalents $167.6M $79.6M $45.1M $76.1M Accounts Receivable $83.2M $38.8M $8.3M $10.7M Inventory $59.0M $43.2M $24.1M $28.9M Non-Current Assets $169.8M $41.5M $10.5M $5.7M Property Plant & Equip $92.0M $35.7M $4.7M $3.5M Total Liabilities $168.2M $89.7M $294.0M $297.0M Current Liabilities $133.0M $86.5M $35.1M $40.1M Accounts Payable $42.4M $26.9M $6.3M $10.3M Short-Term Debt $4.1M $1.3M $2.2M $1.6M Total Equity $1.36B $964.8M $-97.7M $-85.3M Retained Earnings $10.3M $-208.8M $-125.4M $-99.1M Book Value/Share 1.36B 964.8M -97.7M -85.3M
💰 Cash Flow Statement
Item Dec '25 Dec '24 Dec '23 Dec '22 Operating Cash Flow $319.3M $136.7M $-12.7M $-35.9M Depreciation & Amort. $6.8M $3.2M $1.8M $807.0K Change in Working Cap $-66.0M $-13.3M $-9.7M $-10.0M Capital Expenditure $-37.5M $-34.2M $-2.8M $-3.9M Free Cash Flow $281.8M $102.4M $-15.5M $-39.8M Investing Cash Flow $-241.5M $-757.6M $-17.8M $-90.6M Acquisitions $-28.8M $0 $0 — Financing Cash Flow $9.8M $655.8M $-502.0K $151.7M Share Buyback $0 $-1.1M $-210.0K $-313.0K Net Change in Cash $87.6M $34.9M $-31.0M $25.2M
📈 Key Financial Ratios
Ratio FY2025 FY2024 FY2023 FY2022 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% EBITDA Margin % 21.1% -28.5% -23.9% -74.4% ROE % 16.1% -8.6% 26.9% 68.4% ROA % 14.3% -7.9% -13.4% -27.6% Debt/Equity % 0.3% 0.1% -2.2% -1.9% Current Ratio 10.24 11.71 5.30 5.14 FCF Margin % 33.1% 25.8% -13.4% -49.8% Asset Turnover 0.56 0.38 0.59 0.38
🚀 Compounded Growth Rates
Revenue
1-Year +115.1% 3-Year CAGR +171.3%
🏭 Industry Peers — Semiconductors
Ticker Company Price P/E P/B MCap ROE Margin Rev Growth AAPL Apple Inc. $269.42 34.1 44.9 $3,955.4B 152.0% 27.0% 15.7% MSFT Microsoft Corporation $428.19 26.8 8.1 $3,182.4B 34.4% 39.0% 16.7% GOOGL Alphabet Inc. $349.25 32.2 10.2 $4,225.0B 35.7% 32.8% 18.0% META Meta Platforms, Inc. $669.16 28.5 7.8 $1,698.5B 30.2% 30.1% 23.8% NVDA NVIDIA Corporation $210.50 43.0 32.5 $5,116.2B 101.5% 55.6% 73.2% ORCL Oracle Corporation $166.89 30.0 14.3 $480.0B 57.6% 25.3% 21.7% CRM Salesforce, Inc. $182.33 23.4 2.9 $149.2B 12.4% 18.0% 12.1% ADBE Adobe Inc. $243.86 14.2 8.7 $98.6B 58.8% 29.5% 12.0%
Peers selected from Technology sector · Data from Yahoo Finance
🏛 Shareholding Pattern
TOP HOLDERS
Holder Type Shares % Held FMR, LLC Inst 25,334,941 14.79% Vanguard Group Inc Inst 13,827,506 8.07% Blackrock Inc. Inst 12,968,858 7.57% State Street Corporation Inst 3,099,809 1.81% Shaw D.E. & Co., Inc. Inst 2,452,380 1.43% Fidelity Select Portfolios-Select S MF 6,347,622 3.71% VANGUARD INDEX FUNDS-Vanguard Total MF 4,248,316 2.48% VANGUARD INDEX FUNDS-Vanguard Small MF 3,066,139 1.79%
🟢 CATALYSTS
🏆 Revenue Growth 92%: Above sector norm of 30% — strong top-line momentum.
💹 Healthy Margins (25.7%): Above sector norm of 25%.
🔀 Analyst Upside (11%): Mean target of $202.86 above current price.
🇺 Earnings Growth (84%): Above sector norm — strong profit expansion.
🔴 RISKS
📜 High P/E (149.7x): Well above sector expensive threshold of 60x — leaves little room for error.
💰 High P/B (22.8x): Well above sector expensive threshold of 15x.
🔓 High Beta (1.79): More volatile than market — higher swing risk.
🕸 Factor Analysis · Radar
Momentum 8/10: 1M +82.2%, 6M +8.6%, RSI 61, MACD bullish, Above 200DMA Sentiment 7/10: Analyst upside +11.1%, Rec: buy Value 1/10: P/E 149.7, P/B 22.8, EV/EBITDA 179.3 Quality 9/10: ROE 18.8%, Margin 25.7%, D/E 2, CR 10.24 Low Volatility 0/10: Beta 1.79, Ann. vol 91% Momentum
8
Sentiment
7
Value
1
Quality
9
Low Vol
0
Momentum 8/10 1M +82.2%, 6M +8.6%, RSI 61, MACD bullish, Above 200DMA
Sentiment 7/10 Analyst upside +11.1%, Rec: buy
Value 1/10 P/E 149.7, P/B 22.8, EV/EBITDA 179.3
Quality 9/10 ROE 18.8%, Margin 25.7%, D/E 2, CR 10.24
Low Volatility 0/10 Beta 1.79, Ann. vol 91%
🎯 Decision Matrix — Game Theory
Action If Stock Rises If Stock Falls
BUY Capture 11.1% analyst upside OPM of 25% provides margin buffer HOLD Retain existing position; wait for better entry Miss further upside if momentum continues; 1M return of +82.2% shows momentum SELL Lock in +176.4% 1Y return Avoid further drawdown
REASONS TO BUY
Analyst upside of 11.1% with mean target of $202.86
Revenue growing at 91.8% YoY (sector norm: 12%)
REASONS TO SELL / AVOID
P/E of 149.7x exceeds sector expensive threshold of 60x
1Y return of +176.4% — profit booking opportunity
Astera Labs, Inc. trades at $182.65 with a composite risk score of 64/100.
The stock scores 4/25 on valuation, 18/25 on financial health, 20/25 on growth, and 22/25 on technicals.
The company is currently profitable with strong return on equity.
Bottom Line: Positive for Technology but monitor closely. The current recommendation is SPECULATIVE BUY .
PROFITABLE
HIGH ROE
STRONG GROWTH
UPSIDE POTENTIAL
EXPENSIVE
VOLATILE