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Fabless chipmaker of high-speed connectivity semiconductors (PCIe, CXL) that link CPUs, GPUs and memory inside AI data centers.
Fabless chipmaker of high-speed connectivity semiconductors (PCIe, CXL) that link CPUs, GPUs and memory inside AI data centers.
Sells chips, and cables with its chips built in, that are designed into AI server boards and racks; once a design wins a place in a platform, orders follow server shipments. It does not manufacture its own chips, relying on outside foundries. Software tools that let operators monitor connections add stickiness. It listed in 2024.
Moat: narrow (process know-how, customer qualification, IP / patents). Early, qualified position in PCIe/CXL connectivity for AI servers, though it depends heavily on Nvidia-centric AI capex cycles.
Headquarters: Santa Clara, California, United States · Founded: 2017 · Employees: 756
Size Astera Labs (ALAB) is a United States Information Technology company (Semiconductors) with a market value of $33.1B, the 337th largest of 3,117 United States companies the cockpit tracks. Shares closed at $190.71 on 6 Nov 2026.
Performance Over six months the shares fell 4.5%, against -22.9% for the median peer and -1.1% for the United States market (cap-weighted) — 7th highest of 20 in its peer set.
Growth Revenue grew 115.2% over the last twelve months (peer median +22.5%); the operating margin is 25.5% (peer median 16.2%).
Valuation It trades at 28.0× forward earnings against a peer median of 24.0× (10th cheapest of 19).
Capital Return on invested capital runs 27.2 points above its cost of capital (19.8% WACC).
Short interest Short interest is 4.6% of the free float (15 Oct 2026).
Next results Next results expected around 16 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $1.56B | $853M | $396M | $116M | $79.9M |
| Revenue growth | — | +115% | +242% | +45% | — |
| Gross profit | $1.15B | $645M | $303M | $79.8M | $58.7M |
| EBITDA | $413M | $180M | -$113M | -$27.7M | -$59.4M |
| Net income | $461M | $219M | -$83.4M | -$26.3M | -$58.3M |
| Free cash flow | $345M | $282M | $102M | -$15.5M | -$39.8M |
| Capital expenditure | $92.1M | $37.5M | $34.2M | $2.76M | $3.87M |
| Total debt | $45.0M | $31.0M | $3.07M | $2.93M | $1.96M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Astera Labs ALAB | $33.1B | -5% | +115% | 26% | 28.0× | n/a |
| Marvell Technology MRVL | $124B | -17% | +31% | 17% | 25.0× | 54.4% |
| Broadcom AVGO | $1.40T | -32% | +49% | 49% | 16.9× | 26.6% |
| Credo Technology CRDO | $22.7B | -36% | +165% | 32% | 16.5× | 47.4% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ALAB | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -45.0% | -22.7% | 3rd lowest of 21 |
| 6-month return | -4.5% | -22.9% | 7th highest of 20 |
| Distance from 52-week high | -61.8% | -53.1% | 6th lowest of 21 |
| Revenue growth (TTM) | +115.2% | +22.5% | 4th highest of 20 |
| Operating margin | 25.5% | 16.2% | 6th highest of 18 |
| Forward P/E | 28.0× | 24.0× | 10th cheapest of 19 |
| ROIC minus cost of capital | +27.2 pp | -1.6 pp | 5th highest of 18 |
| EV / EBITDA | 76.9× | 12.5× | most expensive of 10 |
| Net debt / EBITDA | -3.2× | -0.4× | least indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Astera Labs ALAB | United States | $33.1B | -5% | +115% | 26% | 28.0× | n/a | n/a |
| Microchip Technology MCHP | United States | $31.7B | -41% | +21% | 16% | 14.5× | 34.2% | -2.8% |
| United Micro Electronics 2303.TW | Taiwan | $34.9B | +11% | +13% | 21% | 13.7× | 14.2% | +6.1% |
| Nanya Technology 2408.TW | Taiwan | $35.8B | +34% | +586% | 71% | 2.9× | 0.6% | +1.8% |
| MetaX Integrated Circuits (Shanghai) 688802.SS | China | $29.5B | -35% | +84% | n/a | 469.5× | n/a | n/a |
| STMicroelectronics STMPA.PA | France | $37.7B | -32% | +10% | 7% | 31.4× | 34.0% | +3.1% |
| Coherent COHR | United States | $38.0B | -42% | +23% | 14% | 16.6× | n/a | n/a |
| Renesas Electronics 6723.T | Japan | $27.9B | -23% | +26% | 24% | 9.9× | 12.2% | +13.0% |
| Hua Hong Grace Semiconductor 688347.SS | China | $25.5B | +23% | +18% | -2% | 234.7× | n/a | n/a |
| Montage Technology 688008.SS | China | $25.5B | -13% | +33% | 42% | 43.7× | 39.7% | +24.5% |
| Giga Device Semiconductor 603986.SS | China | $25.3B | -23% | +166% | 50% | 10.9× | 16.5% | +15.4% |
| Global Unichip 3443.TW | Taiwan | $25.1B | +29% | +104% | 13% | 50.1× | n/a | n/a |
| Moore Threads Technology 688795.SS | China | $25.1B | -53% | +226% | -9% | n/a | n/a | n/a |
| ON Semiconductor ON | United States | $24.6B | -39% | +3% | 19% | 14.3× | 20.0% | +2.7% |
| Shanghai Enflame Technology 688801.SS | China | $23.8B | n/a | n/a | n/a | n/a | n/a | n/a |
| SamsungElecMech 009150.KS | South Korea | $47.2B | +5% | +22% | 12% | 38.7× | 42.8% | +7.9% |
| SJ Semiconductor 688820.SS | China | $22.9B | -21% | +1% | n/a | 136.4× | n/a | n/a |
| Piotech 688072.SS | China | $21.7B | +23% | +24% | 14% | 55.5× | 43.5% | +71.7% |
| First Solar FSLR | United States | $21.6B | -9% | -1% | 39% | 9.2× | 12.4% | +14.0% |
| GlobalFoundries GFS | United States | $21.2B | -48% | +1% | 12% | 16.2× | 24.9% | +7.0% |
| Suzhou TFC Optical Communication 300394.SZ | China | $19.9B | -44% | +26% | 51% | 36.3× | 44.8% | +42.7% |