Healthcare · Drug Manufacturers - Specialty & Generic
Price
$3.56
Market Cap
$1.2B
Employees
1,012
Beta
0.21
Avg Volume
648,808
CEO
Lisa Graver
Business Description
Alvotech, along with its various subsidiaries, is dedicated to the global development and manufacturing of biosimilar pharmaceuticals. Its product offerings span key therapeutic categories, encompassing autoimmune conditions, eye disorders, bone diseases, and cancer. A flagship program for the company is AVT02, a high-concentration biosimilar equivalent to Humira. This candidate is designed to address a range of inflammatory illnesses, including rheumatoid arthritis, psoriatic arthritis, Crohn's disease, ulcerative colitis, and plaque psoriasis. Similarly, AVT04 is a biosimilar version of Stelara, targeting inflammatory conditions such as psoriatic arthritis, Crohn's disease, ulcerative colitis, and plaque psoriasis. For ophthalmic conditions, AVT06 serves as a biosimilar to Eylea, intended for the treatment of age-related macular degeneration, macular edema, and diabetic retinopathy. Currently in preclinical stages, AVT03 is a biosimilar to Xgeva and Prolia, with the goal of preventing bone fractures, alleviating spinal cord compression, reducing the necessity for radiation or bone surgery in certain cancer patients, and both preventing bone loss and increasing bone density. Additionally, Alvotech's pipeline features AVT05, an early-stage biosimilar for Simponi and Simponi Aria, which is being developed for various inflammatory conditions like rheumatoid arthritis, psoriatic arthritis, and ulcerative colitis. Other promising candidates include AVT16, an immunology biosimilar; AVT23, a late-stage biosimilar to Xolair, aimed at treating nasal polyps; and AVT33, an oncology biosimilar. Established in 2013, Alvotech maintains its primary corporate headquarters in Reykjavik, Iceland.
Business History
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALCStock Price / EPS (Diluted)
35.55
Stock Price: $3.56
EPS (Diluted): 0.10
EPS (Diluted): 0.10
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
-5.03
Stock Price: $3.56
Total Equity: -$284.49M
Shares: 279,190,000
Total Equity: -$284.49M
Shares: 279,190,000
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
8.38
Market Cap: $1.20B
Total Debt: $1.30B
Cash: $172.36M
EBITDA: $323.39M
Total Debt: $1.30B
Cash: $172.36M
EBITDA: $323.39M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$2.7B
Market Cap: $1.20B
Total Debt: $1.30B
Cash: $172.36M
Total Debt: $1.30B
Cash: $172.36M
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
59.8%
Gross Profit: $350.76M
Revenue: $586.32M
Revenue: $586.32M
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
13.3%
Operating Income: $78.21M
Revenue: $586.32M
Revenue: $586.32M
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
4.8%
Net Income: $27.92M
Revenue: $586.32M
Revenue: $586.32M
ROE (Profit from shareholder equity)
CALCNet Income / Total Equity
-9.8%
Net Income: $27.92M
Total Equity: -$284.49M
Total Equity: -$284.49M
ROIC (Profit from all invested capital)
CALCNOPAT / Invested Capital
1.9%
Operating Income: $78.21M
Tax Rate: 79.5%
Equity: -$284.49M
Total Debt: $1.30B
Cash: $172.36M
Tax Rate: 79.5%
Equity: -$284.49M
Total Debt: $1.30B
Cash: $172.36M
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
1.89
Current Assets: $574.02M
Current Liabilities: $304.08M
Current Liabilities: $304.08M
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
-4.57
Short-Term Debt: $36.92M
Long-Term Debt: $1.26B
Total Debt: $1.30B
Total Equity: -$284.49M
Long-Term Debt: $1.26B
Total Debt: $1.30B
Total Equity: -$284.49M
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$2.10
Revenue: $586.32M
Shares: 279,190,000
Shares: 279,190,000
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$-1.02
Total Equity: -$284.49M
Shares: 279,190,000
Shares: 279,190,000
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$-0.41
Operating CF: -$50.20M
CapEx: -$64.47M
Shares: 279,190,000
CapEx: -$64.47M
Shares: 279,190,000
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $3.56
Stock Price: $3.56
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: $27.92M
Net Income: $27.92M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares ALVO against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 21, 2026 9:42am (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $36.8M | $83.0M | $91.4M | $489.7M | $586.3M |
| Cost of Revenue | $0 | $64.1M | $160.9M | $185.3M | $235.6M |
| Gross Profit | $36.8M | $18.9M | -$69.4M | $304.4M | $350.8M |
| Operating Expenses | $272.2M | $365.4M | $285.4M | $234.7M | $272.6M |
| Operating Income | -$235.5M | -$346.4M | -$354.9M | $69.6M | $78.2M |
| Net Income | -$101.5M | -$513.6M | -$551.7M | -$231.9M | $27.9M |
| EBITDA | -$18.0M | -$439.8M | -$493.7M | -$32.3M | $323.4M |
| EPS | $-3.25 | $-2.60 | $-2.43 | $-0.87 | $0.10 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 21, 2026 9:42am (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $17.6M | $66.4M | $11.2M | $51.4M | $172.4M |
| Total Current Assets | $119.8M | $230.7M | $194.8M | $455.0M | $574.0M |
| Total Assets | $598.0M | $828.4M | $950.1M | $1.2B | $1.5B |
| Current Liabilities | $111.8M | $167.3M | $261.0M | $193.4M | $304.1M |
| Long-Term Debt | $398.1M | $744.7M | $922.1M | $1.0B | $1.3B |
| Total Liabilities | $733.6M | $1.4B | $1.9B | $1.6B | $1.8B |
| Total Equity | -$135.6M | -$564.4M | -$932.5M | -$412.8M | -$284.5M |
| Retained Earnings | -$1.1B | -$1.7B | -$2.2B | -$2.4B | -$2.4B |
Cash Flow (Annual)
Last updated: Jun 21, 2026 9:42am (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | -$228.2M | -$312.4M | -$312.2M | -$236.8M | -$50.2M |
| Capital Expenditure | -$40.6M | -$49.0M | -$46.5M | -$57.0M | -$64.5M |
| Free Cash Flow | -$268.8M | -$361.4M | -$358.7M | -$293.8M | -$114.7M |
| Acquisitions (net) | $0 | $0 | $0 | $12.0M | -$14.0M |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | -$14.1M | $48.9M | -$55.3M | $40.3M | $120.9M |
Analyst Estimates (Annual)
Last updated: Jun 26, 2026 10:27am (22h ago)| Metric | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|
| Revenue |
$795.9M $738.9M – $890.3M
|
$980.7M $974.8M – $986.6M
|
$1.2B $1.2B – $1.3B
|
$1.5B $1.4B – $1.6B
|
| EBITDA |
-$319.1M -$357.0M – -$296.2M
|
-$393.2M -$395.6M – -$390.8M
|
-$496.4M -$540.3M – -$470.2M
|
-$586.6M -$638.5M – -$555.7M
|
| Net Income |
$59.0M -$2.7M – $120.7M
|
$184.8M $51.1M – $294.9M
|
$301.5M $280.9M – $336.2M
|
$463.5M $431.7M – $516.7M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 21, 2026 9:42am (5d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +125.8% | +10.1% | +435.6% | +19.7% |
| Gross Profit Growth | -48.5% | -466.7% | +538.4% | +15.2% |
| Operating Income Growth | -47.1% | -2.4% | +119.6% | +12.3% |
| Net Income Growth | -406.0% | -7.4% | +58.0% | +112.0% |
| EBITDA Growth | -2,339.1% | -12.2% | +93.5% | +1,102.0% |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for ALVO — it's generated by the pipeline (
market-narrative step).
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30