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Alector, Inc.

ALEC Healthcare Biotechnology

Alector, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $21.0 million, down 79.1% from fiscal 2024.

Revenue
+4,895.9%
EPS
+426.5%
Free cash flow
+25.7%
Total debt
+3.27%

Quarter to September 2026, against a year earlier

2.30 0.21 +10.05%
Market cap
$309.9M
P/E
6.6×
Fwd P/E
9.5×
Dividend yield
—
F-score
1/9
Altman Z
−5.15
Beneish M
n/a
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 1.02
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell 5 — 1 5 1 — 3 — — 3 — —
Insider Ownership 3.15%

Capital & Financial Ratios $m

Size
Market Cap 309.86
Revenue ttm 173.47
Net income ttm 41.41
Free cash flow ttm (149.87)
Net debt Q (138.70)
Valuation
P/E 6.57
Forward P/E 9.54
Price / sales 1.49
Forward P/S Powerpack
Price / FCF 0.00
Price / book 2.22
Financial health
Current ratio Q 4.10 (at or above 1.5: strong)
Debt / equity Q 0.00 (at or below 0.5: strong)
Interest coverage Q —
Growth
Revenue growth Q +4,895.89% (above 0%: growing)
Operating income growth Q +429.29% (above 0%: growing)
EPS, this year +82.33% (at or above 15%: strong)
EPS, next year A −241.50% (below 0%: weak)
Revenue, next year A +214.33% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A +19.03% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.8×, against a ten-year median of 0.8×; over the ten years it ranged from −4.1× in 2025 to 88.0× in 2021.
P/S against its own 10 years 4.41%
10-year low 10-year high
P/B against its own 10 years 11.03%
10-year low 10-year high
EV/Sales against its own 10 years 23.65%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 549 413 256 139
Receivables — — — —
Inventory — — — —
Other — — — —
566 425 266 145
2023 2024 2025 Q'26
Payables 4 2 2 1
ST’ Debt — — 0 —
Other 39 49 11 —
178 125 70 35

Compound Annual Growth %

10y 5y 3y
Sales — (0.05%) (46.00%)
Cash Flow — 0.00% 0.00%
Earnings — 0.00% 0.00%
Book Value — (35.17%) (47.72%)

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate −0.23 Actual 1.11

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 −0.39 −0.34 Beat by 0.05
Q1 FY26 −0.35 −0.21 Beat by 0.14
Q2 FY26 −0.24 −0.21 Beat by 0.03
Q3 FY26 −0.23 1.11 Beat by 1.34
Q4 FY26 0.14 — Reports 24 February 2027

EPS $

Mar Jun Sep Dec Year
’26 (0.21) (0.21) 1.11 — —
’25 (0.41) (0.30) (0.34) (0.34) (1.39)
’24 (0.38) (0.40) (0.43) (0.02) (1.23)
’23 (0.55) 0.02 (0.53) (0.49) (1.56)
’22 (0.54) 0.12 (0.56) (0.63) (1.62)
’21 (0.66) (0.69) 1.49 (0.68) (0.45)
’20 (0.53) (0.58) (0.67) (0.66) (2.45)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 1 3 163 — —
’25 4 8 3 6 21
’24 16 15 15 54 101
’23 17 56 9 15 97
’22 24 80 15 14 134
’21 4 7 182 14 207
’20 7 3 6 5 21
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (50) (34) (24) — —
’25 (61) (49) (33) (42) (184)
’24 (61) (63) (51) (55) (230)
’23 (49) (43) (47) (46) (184)
’22 135 (57) (49) (49) (20)
’21 (53) (45) 445 (49) 299
’20 (32) (46) (41) (48) (167)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (50) (34) (24) — —
’25 (61) (49) (33) (42) (184)
’24 (62) (63) (51) (55) (231)
’23 (50) (44) (46) (46) (187)
’22 134 (58) (51) (50) (24)
’21 (54) (45) 444 (50) 295
’20 (36) (46) (41) (48) (172)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.6
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 0 4 28 21 21 207 134 97 101 21 173 +54.6% 66 15 9 (24.7%)
Gross margin, % 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 0.0 pt
EBT (15) (32) (52) (105) (190) (36) (130) (125) (119) (143) 42 +28.3%
EBT margin, % (3,632.21) (869.61) (188.78) (496.65) (901.64) (17.54) (97.33) (128.97) (118.26) (678.36) 24.08 +2,953.9 pt
Net income (15) (32) (52) (105) (190) (36) (133) (130) (119) (143) 41 +28.4%
Per share, $
Per share, $ Revenue 0.06 0.41 2.45 0.34 0.27 2.58 1.62 1.16 1.04 0.20 1.54 +15.0%
Earnings (2.11) (3.55) (4.62) (1.71) (2.45) (0.45) (1.62) (1.56) (1.23) (1.39) 0.35 (4.5%)
Cash flow (1.81) (1.94) 11.28 (1.61) (2.14) 3.71 (0.25) (2.20) (2.38) (1.79) (1.33) (0.2%)
Capex (0.31) (0.09) (0.17) (0.25) (0.06) (0.04) (0.05) (0.03) (0.01) 0.00 0.00 (52.3%)
Free cash flow (2.13) (2.03) 11.11 (1.86) (2.21) 3.67 (0.30) (2.23) (2.39) (1.79) (1.33) (1.9%)
Book value 0.00 2.78 10.01 3.15 3.44 3.74 2.60 1.60 1.31 0.30 1.04 n/m
Shares, m 7 9 11 62 78 80 82 84 97 103 109 +34.5%
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 6.57 0.0
P/S 7.64 7.64 7.64 50.13 55.76 8.02 5.62 6.89 1.82 7.64 1.49 15.9
P/B 0.00 0.00 0.00 5.46 4.40 5.52 3.50 4.99 1.44 5.24 2.22 3.1
EV/Sales (2.86) (2.86) (2.86) 35.75 38.60 4.70 0.61 1.65 (2.12) (4.07) 0.80 6.7
EV/FCF (0.63) (0.63) (0.63) (6.62) (4.74) 3.29 (3.31) (0.86) 0.92 0.47 (0.92) (1.3)
Cash, $m
Cash, $m Operating cash flow (13) (18) 127 (99) (167) 299 (20) (184) (230) (184) (150) +34.2%
Capex (2) (1) (2) (15) (5) (3) (4) (2) (1) 0 0 (35.9%)
Free cash flow (15) (19) 126 (115) (172) 295 (24) (187) (231) (184) (150) +31.9%
Balance, $m
Balance, $m Working capital 50 206 245 295 353 610 633 388 300 197 110 +16.5%
Net debt (51) (32) (290) (305) (362) (688) (670) (549) (404) (246) (139) +19.2%
Shareholders’ equity — 25 113 195 268 301 214 134 127 31 117 +2.3%
Returns, %
Returns, % ROA (12.80) (27.52) (19.19) (28.86) (41.80) (5.58) (16.64) (18.50) (21.84) (37.54) 16.53 (24.7) pt
ROIC 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.0 pt
ROE 39.28 84.43 69.93 (216.52) (82.30) (12.79) (51.75) (74.81) (91.24) (181.56) 47.52 (220.8) pt
People
People Employees — — 78 121 171 208 273 244 238 103 — +4.1%
Revenue/emp, $m 0.00 0.00 0.35 0.18 0.12 1.00 0.49 0.40 0.42 0.20 — n/m
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Alector, Inc. vs peers in Biotechnology (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
FENC Adherex Technologies Inc. $329.3M — (loss-making) 34.1× +85.18% (above 0%: growing) n/m +101.36% (above 0%: growing) 95.97% 9.72% Compare
PROK ProKidney Corp. $322.0M — (loss-making) — (loss-making) −32.13% (below 0%: shrinking) n/m −28.03% (below 0%: shrinking) 100.00% (32,248.67%) Compare
EIKN Eikon Therapeutics, Inc. $316.3M — (loss-making) — — n/m +15.18% (above 0%: growing) — 0.00% Compare
ALEC Alector, Inc. $309.9M 6.6× — (loss-making) +4,895.89% (above 0%: growing) n/m +25.73% (above 0%: growing) 100.00% 76.04%
XFOR X4 Pharmaceuticals, Inc. $304.4M — (loss-making) — (loss-making) +63.12% (above 0%: growing) n/m +27.45% (above 0%: growing) 82.18% (694.37%) Compare
BNTC Benitec Biopharma Limited $301.5M — (loss-making) — (loss-making) −85.42% (below 0%: shrinking) n/m +38.90% (above 0%: growing) 0.00% 0.00% Compare
GALT Galectin Therapeutics Inc. $301.0M — (loss-making) — — n/m +63.06% (above 0%: growing) 0.00% 0.00% Compare
ENTA Enanta Pharmaceuticals, Inc. $293.6M — (loss-making) — (loss-making) −21.60% (below 0%: shrinking) n/m −157.51% (below 0%: shrinking) 100.00% (120.04%) Compare
SCTX Scribe Therapeutics Inc. $293.1M — — — n/m — 100.00% (489.83%) Compare
Median of peers $302.9M — — −21.60% — +27.45% 95.97% (60.02%)

All 621 Biotechnology stocks →

Pay and ownership Proxy statement filed 28 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 2.00m 1.86m 17.00
2024 3.67m (1.85m) 20.00
2023 4.26m 3.23m 86.00

Ownership

Directors and executive officers, together 8.30%
Entities affiliated with TCG Crossover 9.00%
Arnon Rosenthal, Ph.D. 7.20%
Entities affiliated with Polaris Venture Partners 6.20%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Alector, Inc. (ALEC) Latest News

5 Nov

Impact 4 · · GlobeNewswire

29 Oct

Impact 3 · · Zacks

16 Oct

Impact 3 · · Investing.com
Impact 3 · · GlobeNewswire

15 Oct

Impact 3 · · Simply Wall St.

13 Oct

Impact 4 · · MarketBeat

7 Oct

Impact 3 · · GlobeNewswire

6 Oct

Impact 4 · · pharmaceutical-technology.com

5 Oct

Impact 4 · · InvestorsHub
Impact 4 · · GlobeNewswire

6 Aug

Impact 3 ·

9 Jul

Impact 4 · · biopharmadive.com

18 Jun

Impact 3 ·

19 May

Impact 3 · · Simply Wall St.

7 May

Impact 3 · · Zacks
Impact 3 · · GlobeNewswire
Impact 3 · · Zacks

2 May

Impact 3 · · Simply Wall St.

30 Apr

Impact 4 ·

29 Apr

Impact 4 · · GlobeNewswire

20 Mar

Impact 4 · · Simply Wall St.

4 Mar

Impact 3 · · Simply Wall St.

3 Mar

Impact 3 · · MarketBeat

25 Feb

Impact 4 ·
Impact 3 · · Zacks
Impact 3 ·

17 Feb

Impact 3 · · Simply Wall St.Simply Wall St.

6 Feb

Impact 4 · · Simply Wall St.

3 Feb

Impact 3 · · Simply Wall St.

19 Jan

Impact 3 · · Simply Wall St.
stockrow.com/ALEC · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com