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Astera Labs, Inc. Common Stock

ALAB
81
Semiconductors · Technology
Price
$285.82
-16.16 (-5.35%)
Market Cap
$49.59B
Exchange
United States
Winston Score
81
Winston is happy
A high-quality business with solid fundamentals.
Data as of Oct 18, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Strong
25/30
Growth
Exceptional
19/20
Cash Flow
Strong
8/10
Stability
Exceptional
10/10
Valuation
Good
5/10
Ownership
Good
10/15
Dividends
Not counted
n/a

77 of 95 counted points = Winston Score 81. Pillars marked n/a do not apply to this company and are left out of the total.

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Share count rising — dilution

+37.6% over 3y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 130.5M (2022) → 179.6M (2025)

§Winston Score History

The full picture

Astera Labs, Inc. designs, manufactures, and sells semiconductor-based connectivity solutions for cloud and AI infrastructure. Its Intelligent Connectivity Platform is comprised of a portfolio of data, network, and memory connectivity products, which are built on a unifying software-defined architecture that enables customers to deploy and operate high performance cloud and AI infrastructure at scale. The company was incorporated in 2017 and is based in Santa Clara, California.

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Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+104.5% YoY

YoY Growth Rate

Strong revenue growth

EPS Growth

+187.1% YoY

YoY Growth Rate

Strong earnings growth

R&D Spend

$304M/ year

↑ Rising (+51% vs prior year)

35.7% of revenue

2.4x the sector average (15%)

Investing heavily in future products and technology

Insider Activity

18.2%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$1.3B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Strong grower

Astera Labs, Inc. Common Stock is growing revenue at 104% year-over-year. The Winston Score penalises unprofitable companies, but revenue at this pace tells a different story — this is a company still in "build mode."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale
Gross Margin
73.3%
Premium pricing power — 73.3% gross margin
Profit after running costs
Operating Margin
22.7%
Excellent — 22.7% operating margin
Return on the money invested
ROCE
15.8%
Strong — 15.8% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

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Growth

Sales growth
Sales YoY
+98.5%
Fast-growing sales (+98.5% YoY)
Profit growth
EPS YoY
+260.7%
Earnings growing fast (+260.7% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is
EPS Consistency
7/8 quarters
Every recent quarter grew earnings vs last year

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Cash Flow

Profit that turns into cash
Cash Conversion
91%
Modest — 91% of profit becomes cash
Spare cash per sale
FCF Margin
23.0%
Converts sales into free cash efficiently (23.0%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

What it owes vs what it owns
Debt / Equity
0.00
Conservative — low debt load (0.00)
Covers its interest
Interest Cover
100.00x
—
Comfortably covers interest (100.0x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
131.7x
Expensive — P/E 131.7

P/E over 35. The market is pricing in heavy, sustained growth.

Cheaper or dearer next year
P/E vs Forward
+87.9
GROWING
Earnings expected to grow meaningfully — cheaper on forward P/E (131.7 → 43.8)

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Dividends

Not applicable for this business.
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