Alvotech(ALVO)Earnings, Financials & Key Ratios
ALVO•NASDAQ
39.2× P/E·Price updated Jun 19, 2026
SectorHealthcareIndustrySpecialty & Generic PharmaSub-IndustryBiosimilar developers and manufacturers
AboutAlvotech, through its subsidiaries, develops and manufactures biosimilar medicines for patients worldwide. It offers biosimilar products in the therapeutic areas of autoimmune, eye, and bone disorders, as well as cancer. The company's lead program is AVT02, a high concentration formulation biosimilar to Humira to treat various inflammatory conditions, including rheumatoid arthritis, psoriatic arthritis, Crohn's disease, ulcerative colitis, plaque psoriasis, and other indications; AVT04, a biosimilar to Stelara to treat various inflammatory conditions comprising psoriatic arthritis, Crohn's disease, ulcerative colitis, plaque psoriasis, and other indications; AVT06, a biosimilar to Eylea to treat various conditions, such as age-related macular degeneration, macular edema, and diabetic retinopathy; and AVT03, a biosimilar to Xgeva and Prolia, which is in the pre-clinical phase to treat prevent bone fracture, spinal cord compression, and the need for radiation or bone surgery in patients with certain types of cancer, as well as prevent bone loss and increase bone mass. It also offers AVT05, a biosimilar to Simponi and Simponi Aria, which is in early phase development to treat various inflammatory conditions, including rheumatoid arthritis, psoriatic arthritis, ulcerative colitis, and other indications; AVT16, a biosimilar to an immunology product; AVT23, a biosimilar to Xolair, which is in late-stage development to treat nasal polyps; and AVT33, a biosimilar to an oncology product. The company was founded in 2013 and is headquartered in Reykjavik, Iceland.Show more
- Revenue$586M+19.7%
- EBITDA$116M+15.0%
- Net Income$28M+112.0%
- EPS (Diluted)0.10+111.5%
- Gross Margin59.82%-3.8%
- EBITDA Margin19.79%-4.0%
- Operating Margin13.34%-6.2%
- Net Margin4.76%+110.1%
ALVO Key Insights
Alvotech (ALVO) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Strong 5Y sales CAGR of 54.5%
✗Weaknesses
- ✗Weak Piotroski F-Score: 3/9
- ✗Negative free cash flow
- ✗Trading more than 30% below 52-week high
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
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ALVO Price & Volume
Alvotech (ALVO) stock price & volume — 10-year historical chart
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ALVO Growth Metrics
Alvotech (ALVO) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years54.49%
3 Years91.85%
TTM19.73%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM112.04%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM100.31%
Return on Capital
10 Years-30.34%
5 Years-29.91%
3 Years-12.46%
Last Year7.07%
ALVO Recent Earnings
Alvotech (ALVO) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 5/12 qtrs (42%)●Beat Revenue 6/12 qtrs (55%)
Q2 2026Latest
May 6, 2026Metric
Actual
Est
EPS
$0.09-28.6%
$0.07
Rev
$106M-5.8%
$112M
Q2 2026
Mar 18, 2026Metric
Actual
Est
EPS
$0.37-6334.8%
$0.01
Rev
$173M+6.8%
$162M
Q4 2025
Nov 12, 2025Metric
Actual
Est
EPS
$0.02-140.0%
$0.05
Rev
$114M-30.9%
$165M
Q3 2025
Aug 13, 2025Metric
Actual
Est
EPS
$0.14+153.8%
$0.26
Rev
$173M+11.4%
$156M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 6, 2026 | $0.09vs $0.07-28.6% | $106Mvs $112M-5.8% |
| Q2 2026 | Mar 18, 2026 | $0.37vs $0.01-6334.8% | $173Mvs $162M+6.8% |
| Q4 2025 | Nov 12, 2025 | $0.02vs $0.05-140.0% | $114Mvs $165M-30.9% |
| Q3 2025 | Aug 13, 2025 | $0.14vs $0.26+153.8% | $173Mvs $156M+11.4% |
Based on last 12 quarters of dataView full earnings history →
ALVO Peer Comparison
Alvotech (ALVO) competitors in Biosimilar developers and manufacturers — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 AMGN | 182.2B | 337.60 | 23.72 | 9.92% | 20.95% | 89.41% | 6.31 | |
 TEVA | 36.66B | 31.48 | 26.23 | 4.31% | 9.02% | 20.69% | 2.20 | |
 VTRS | 17.9B | 15.37 | -5.12 | -2.98% | -2.04% | -1.97% | 1.00 | |
 ABBV | 383.17B | 216.63 | 91.41 | 8.57% | 6.91% | 62.15% | ||
 JNJ | 550.4B | 228.39 | 39.45 | 4.3% | 27.26% | 31.69% | 0.51 | |
 PFE | 143.46B | 25.22 | 18.54 | -1.65% | 11.83% | 8.34% | 0.78 | |
 BIIB | 29.02B | 196.58 | 22.26 | 1.39% | 13.92% | 7.55% | 0.38 | |
 REGN | 63.37B | 609.94 | 14.70 | 0.99% | 29.65% | 14.32% | 0.09 |
Compare ALVO vs Peers
Alvotech (ALVO) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
ALVO Income Statement
Alvotech (ALVO) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Metric | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|
Sales/Revenue | 66.62M | 36.77M | 83.03M | 91.43M | 489.68M | 586.32M |
Revenue Growth % | - | -44.8% | 125.79% | 10.12% | 435.56% | 19.74% |
Cost of Goods Sold | 0 | 0 | 64.09M | 160.86M | 185.31M | 235.56M |
COGS % of Revenue | - | - | 77.2% | 175.93% | 37.84% | 40.18% |
Gross Profit | 66.62M▲ 0% | 36.77M▼ 44.8% | 18.93M▼ 48.5% | -69.42M▼ 466.7% | 304.37M▲ 538.4% | 350.76M▲ 15.2% |
Gross Margin % | 100% | 100% | 22.8% | -75.93% | 62.16% | 59.82% |
Gross Profit Growth % | - | -44.8% | -48.51% | -466.65% | 538.44% | 15.24% |
Operating Expenses | 204.15M | 272.23M | 365.38M | 285.44M | 234.73M | 272.56M |
OpEx % of Revenue | 306.46% | 740.31% | 440.06% | 312.18% | 47.94% | 46.49% |
Selling, General & Admin | 58.91M | 84.13M | 186.74M | 73.04M | 61.45M | 90.95M |
SG&A % of Revenue | 88.44% | 228.8% | 224.91% | 79.88% | 12.55% | 15.51% |
Research & Development | 148.07M | 191.01M | 180.62M | 210.83M | 171.31M | 184.19M |
R&D % of Revenue | 222.28% | 519.43% | 217.54% | 230.58% | 34.98% | 31.41% |
Other Operating Expenses | -2.83M | -2.91M | -1.99M | 1.57M | 1.96M | -2.58M |
Operating Income | -137.54M▲ 0% | -235.46M▼ 71.2% | -346.44M▼ 47.1% | -354.86M▼ 2.4% | 69.64M▲ 119.6% | 78.21M▲ 12.3% |
Operating Margin % | -206.46% | -640.31% | -417.25% | -388.11% | 14.22% | 13.34% |
Operating Income Growth % | - | -71.19% | -47.14% | -2.43% | 119.63% | 12.3% |
EBITDA | -121.12M | -217.26M | -326.03M | -330.65M | 100.94M | 116.06M |
EBITDA Margin % | -181.82% | -590.83% | -392.67% | -361.63% | 20.61% | 19.79% |
EBITDA Growth % | - | -79.38% | -50.07% | -1.42% | 130.53% | 14.97% |
D&A (Non-Cash Add-back) | 16.42M | 18.2M | 20.41M | 24.21M | 31.3M | 37.85M |
EBIT | -194.3M | -36.23M | -460.21M | -517.88M | -63.58M | 285.54M |
Net Interest Income | -100.51M | -112.95M | -90.53M | -130M | -152.98M | 49.3M |
Interest Income | 0 | 19K | 912K | 4.82M | 4.62M | 198.49M |
Interest Expense | 97.47M | 112.97M | 91.44M | 134.82M | 157.6M | 149.19M |
Other Income/Expense | -154.23M | 86.26M | -205.21M | -296.19M | -287.21M | 58.14M |
Pretax Income | -291.77M▲ 0% | -149.2M▲ 48.9% | -551.65M▼ 269.7% | -651.05M▼ 18.0% | -217.56M▲ 66.6% | 136.35M▲ 162.7% |
Pretax Margin % | -437.99% | -405.74% | -664.4% | -712.04% | -44.43% | 23.25% |
Income Tax | -121.73M | -47.69M | -38.07M | -99.32M | 14.3M | 108.43M |
Effective Tax Rate % | 41.72% | 31.97% | 6.9% | 15.26% | -6.57% | 79.52% |
Net Income | -170.04M▲ 0% | -101.5M▲ 40.3% | -513.58M▼ 406.0% | -551.73M▼ 7.4% | -231.86M▲ 58.0% | 27.92M▲ 112.0% |
Net Margin % | -255.26% | -276.04% | -618.56% | -603.42% | -47.35% | 4.76% |
Net Income Growth % | - | 40.31% | -405.97% | -7.43% | 57.98% | 112.04% |
Net Income (Continuing) | -170.04M | -101.5M | -513.58M | -551.73M | -231.86M | 27.92M |
Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 |
Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 |
EPS (Diluted) | -5.44▲ 0% | -3.25▲ 40.3% | -2.60▲ 20.0% | -2.43▲ 6.5% | -0.87▲ 64.2% | 0.10▲ 111.5% |
EPS Growth % | - | 40.26% | 20% | 6.54% | 64.2% | 111.49% |
EPS (Basic) | -5.44 | -3.25 | -2.60 | -2.43 | -0.87 | 0.10 |
Diluted Shares Outstanding | 31.25M | 31.25M | 197.72M | 227.26M | 267.92M | 279.19M |
Basic Shares Outstanding | 31.25M | 31.25M | 197.72M | 227.26M | 267.92M | 279.19M |
Dividend Payout Ratio | - | - | - | - | - | - |
ALVO Balance Sheet
Alvotech (ALVO) balance sheet — assets, liabilities & shareholders' equity
| Metric | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|
Total Current Assets | 86.16M | 119.82M | 230.74M | 194.84M | 455.02M | 574.01M |
Cash & Short-Term Investments | 31.69M | 17.56M | 66.43M | 11.16M | 51.43M | 172.36M |
Cash Only | 31.69M | 17.56M | 66.43M | 11.16M | 51.43M | 172.36M |
Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 |
Accounts Receivable | 33.12M | 53.88M | 71.39M | 87.22M | 251.72M | 69.74M |
Days Sales Outstanding | 181.45 | 534.83 | 313.82 | 348.17 | 187.63 | 43.41 |
Inventory | 9.65M | 39.06M | 71.47M | 74.43M | 127.89M | 220.05M |
Days Inventory Outstanding | - | - | 407 | 168.9 | 251.9 | 340.98 |
Other Current Assets | 5.79M | 0 | 851K | 0 | 0 | 111.86M |
Total Non-Current Assets | 388.26M | 478.16M | 597.71M | 755.25M | 766.38M | 913.08M |
Property, Plant & Equipment | 176.97M | 205.33M | 268.1M | 356.58M | 409.74M | 356.4M |
Fixed Asset Turnover | 0.38x | 0.18x | 0.31x | 0.26x | 1.20x | 1.65x |
Goodwill | 13.43M | 12.37M | 11.64M | 12.06M | 11.33M | 12.84M |
Intangible Assets | 6.33M | 21.51M | 25.65M | 19.08M | 20.62M | 81.83M |
Long-Term Investments | 56.68M | 55.31M | 48.57M | 18.49M | 22.71M | 0 |
Other Non-Current Assets | 134.85M | 13.23M | 34.25M | 39.23M | 3.62M | 269.81M |
Total Assets | 474.42M▲ 0% | 597.98M▲ 26.0% | 828.44M▲ 38.5% | 950.09M▲ 14.7% | 1.22B▲ 28.6% | 1.49B▲ 21.8% |
Asset Turnover | 0.14x | 0.06x | 0.10x | 0.10x | 0.40x | 0.39x |
Asset Growth % | - | 26.04% | 38.54% | 14.68% | 28.56% | 21.75% |
Total Current Liabilities | 50.98M | 111.84M | 167.29M | 260.95M | 193.4M | 304.08M |
Accounts Payable | 11.96M | 28.59M | 49.19M | 80.56M | 67.13M | 126.12M |
Days Payables Outstanding | - | - | 280.11 | 182.81 | 132.22 | 195.43 |
Short-Term Debt | 2.5M | 2.77M | 19.92M | 38.02M | 32.7M | 36.92M |
Deferred Revenue (Current) | 0 | 29.69M | 36.91M | 59.18M | 15.98M | 0 |
Other Current Liabilities | 14.63M | 0 | 0 | 34.5M | 6.63M | 127.91M |
Current Ratio | 1.69x | 1.07x | 1.38x | 0.75x | 2.35x | 1.89x |
Quick Ratio | 1.50x | 0.72x | 0.95x | 0.46x | 1.69x | 1.16x |
Cash Conversion Cycle | - | - | 440.71 | 334.26 | 307.31 | 188.96 |
Total Non-Current Liabilities | 1.29B | 621.75M | 1.23B | 1.62B | 1.44B | 1.47B |
Long-Term Debt | 565.4M | 398.14M | 744.65M | 922.13M | 1.04B | 1.26B |
Capital Lease Obligations | 103.47M | 114.84M | 35.37M | 105.63M | 112.14M | 138M |
Deferred Tax Liabilities | 0 | 150K | 309K | 53K | 1.81M | 7.87M |
Other Non-Current Liabilities | 621.82M | 63.77M | 388.22M | 520.55M | 210.22M | 59.49M |
Total Liabilities | 1.34B | 733.59M | 1.39B | 1.88B | 1.63B | 1.77B |
Total Debt | 676.85M | 523.05M | 805.1M | 1.08B | 1.19B | 1.45B |
Net Debt | 645.16M | 505.5M | 738.67M | 1.06B | 1.14B | 1.28B |
Debt / Equity | - | - | - | - | - | - |
Debt / EBITDA | - | - | - | - | 11.79x | 12.49x |
Net Debt / EBITDA | - | - | - | - | 11.28x | 11.00x |
Interest Coverage | -1.99x | -0.32x | -5.03x | -3.84x | -0.40x | 1.91x |
Total Equity | -867.24M▲ 0% | -135.61M▲ 84.4% | -564.42M▼ 316.2% | -932.49M▼ 65.2% | -412.77M▲ 55.7% | -284.49M▲ 31.1% |
Equity Growth % | - | 84.36% | -316.2% | -65.21% | 55.73% | 31.08% |
Book Value per Share | -27.75 | -4.34 | -2.85 | -4.10 | -1.54 | -1.02 |
Total Shareholders' Equity | -867.24M | -135.61M | -564.42M | -932.49M | -412.77M | -284.49M |
Common Stock | 73K | 135K | 2.13M | 2.28M | 2.83M | 2.93M |
Retained Earnings | -1.04B | -1.14B | -1.65B | -2.21B | -2.44B | -2.41B |
Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 |
Accumulated OCI | 4.97M | 4.67M | 29.14M | 41.38M | 15.05M | 16.68M |
Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 |
ALVO Cash Flow Statement
Alvotech (ALVO) cash flow — operating, investing & free cash flow history
| Metric | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|
Cash from Operations | -74.3M | -228.17M | -312.39M | -312.19M | -236.84M | -50.2M |
Operating CF Margin % | -111.53% | -620.5% | -376.24% | -341.43% | -48.37% | -8.56% |
Operating CF Growth % | - | -207.11% | -36.91% | 0.07% | 24.13% | 78.81% |
Net Income | -170.04M | -101.5M | -513.58M | -551.73M | -231.86M | 27.92M |
Depreciation & Amortization | 16.42M | 18.2M | 20.41M | 24.21M | 31.3M | 37.85M |
Stock-Based Compensation | 0 | 0 | 10.32M | 18.03M | 7.63M | 17.38M |
Deferred Taxes | -121.73M | -47.69M | -38.07M | -99.32M | 14.3M | 108.43M |
Other Non-Cash Items | 168.54M | -90.36M | 256.42M | 270.29M | 230.44M | -124.14M |
Working Capital Changes | 32.52M | -6.81M | -47.89M | 26.33M | -288.64M | -117.64M |
Change in Receivables | 10.1M | -13.53M | -13.23M | -24.83M | -164.24M | -6.33M |
Change in Inventory | -3.25M | -29.41M | -32.41M | -11.3M | -49.97M | -90.13M |
Change in Payables | 227K | 14.32M | 0 | 0 | 0 | -21.18M |
Cash from Investing | -16.9M | -40.63M | -63.54M | -46.34M | -18.87M | -104.22M |
Capital Expenditures | -7.49M | -20.46M | -37.88M | -33.23M | -53.66M | -64.47M |
CapEx % of Revenue | 11.24% | 55.65% | 45.62% | 36.35% | 10.96% | 11% |
Acquisitions | -5M | 0 | 0 | 0 | 12M | -14.04M |
Investments | - | - | - | - | - | - |
Other Investing | -4.42M | -20.17M | -25.66M | -13.11M | 22.79M | 0 |
Cash from Financing | 55.4M | 254.83M | 424.91M | 301.32M | 297.31M | 270.83M |
Debt Issued (Net) | 21.02M | 68.97M | 257.82M | 171.19M | 151.98M | 202.48M |
Equity Issued (Net) | 34.38M | 185.86M | 9.83M | 136.88M | 150.45M | 78.72M |
Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 |
Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 |
Other Financing | 0 | 0 | 157.27M | -6.75M | -5.13M | -10.37M |
Net Change in Cash | -35.71M▲ 0% | -14.13M▲ 60.4% | 48.87M▲ 445.8% | -55.27M▼ 213.1% | 40.27M▲ 172.9% | 120.93M▲ 200.3% |
Free Cash Flow | -86.28M▲ 0% | -268.8M▼ 211.6% | -361.39M▼ 34.4% | -358.66M▲ 0.8% | -293.84M▲ 18.1% | -114.67M▲ 61.0% |
FCF Margin % | -129.51% | -731% | -435.26% | -392.26% | -60.01% | -19.56% |
FCF Growth % | - | -211.56% | -34.44% | 0.76% | 18.07% | 60.98% |
FCF per Share | -2.76 | -8.60 | -1.83 | -1.58 | -1.10 | -0.41 |
FCF Conversion (FCF/Net Income) | 0.44x | 2.25x | 0.61x | 0.57x | 1.02x | -1.80x |
Interest Paid | 0 | 0 | 0 | 0 | 0 | 58.95M |
Taxes Paid | 0 | 0 | 0 | 0 | 0 | 780K |
ALVO Key Ratios
Alvotech (ALVO) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
Return on Invested Capital (ROIC) | - | -238.97% | -95.5% | -173.9% | 12.18% | 6.83% |
Gross Margin | 100% | 100% | 22.8% | -75.93% | 62.16% | 59.82% |
Net Margin | -255.26% | -276.04% | -618.56% | -603.42% | -47.35% | 4.76% |
Interest Coverage | -1.99x | -0.32x | -5.03x | -3.84x | -0.40x | 1.91x |
FCF Conversion | 0.44x | 2.25x | 0.61x | 0.57x | 1.02x | -1.80x |
Revenue Growth | - | -44.8% | 125.79% | 10.12% | 435.56% | 19.74% |
Related:ALVO Dividend History·ALVO Revenue History·ALVO Price History·ALVO P/E History·ALVO Financial Ratios·ALVO Institutional Holders
ALVO Frequently Asked Questions
Alvotech (ALVO) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Alvotech (ALVO) reported $586.3M in revenue for fiscal year 2025. This represents a 780% increase from $66.6M in 2020.
Alvotech (ALVO) grew revenue by 19.7% over the past year. This is strong growth.
Yes, Alvotech (ALVO) is profitable, generating $27.9M in net income for fiscal year 2025 (4.8% net margin).
Dividend & Returns
Alvotech (ALVO) had negative free cash flow of $114.7M in fiscal year 2025, likely due to heavy capital investments.