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. In the quarter to June 2026, revenue fell 57.8%, EPS grew 30.0%, free cash flow grew 30.2% and total debt rose 3.27%, each against the same quarter a year earlier.
Follow ALEC
Alector, Inc. (ALEC) Altman Z-score
Alector, Inc.'s Altman Z-score for fiscal 2025 is −5.15, in the distress zone (below 1.81).
Altman Z-score, annual
Embed this chart
Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | −5.15 | (2.95) |
| FY2024 | −2.20 | (1.52) |
| FY2023 | −0.68 | (1.00) |
| FY2022 | 0.32 | (1.85) |
| FY2021 | 2.17 | 0.56 |
| FY2020 | 1.62 | (0.46) |
| FY2019 | 2.08 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.67 | — | 0.81 | |
| Retained earnings / total assets | (3.31) | — | −4.64 | |
| EBIT / total assets | (0.53) | — | −1.76 | |
| Market value of equity / total liabilities | 0.61 | — | 0.37 | |
| Sales / total assets | 0.07 | — | 0.07 | |
| Altman Z-score | Distress zone | −5.15 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −9.85 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| EVMN Evommune Inc. compare | 1.5× |
| CAMP CAMP4 Therapeutics Corporation compare | −2.3× |
| ZNTL Zentalis Pharmaceuticals, Inc. compare | −2.4× |
| PLX Protalix BioTherapeutics, Inc. compare | −3.1× |
| ALEC Alector, Inc. | −5.2× |
| MGNX MacroGenics, Inc. compare | −6.0× |
| ADCT ADC Therapeutics SA compare | −6.7× |
| PYXS Pyxis Oncology, Inc. compare | −7.9× |
| LXEO Lexeo Therapeutics, Inc. compare | — |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets