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Friday 6 November 2026
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Alvotech
ALVO Healthcare Drug Manufacturers Specialty & Generic
Alvotech’s revenue for fiscal 2025 (year ended December 2025) was $586.3 million, up 19.7% from fiscal 2024.
- Revenue
- +2,311.0%
- EPS
- −99.5%
- Free cash flow
- −496.6%
- Total debt
- +16.8%
Quarter to June 2026, against a year earlier
4.67
0.12
+2.64%
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Target Price Range
Analyst price targets
Free accountTen 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 Jun ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | — | — | — | 37 | 83 | 91 | 490 | 586 | 293 | +99.8% | 653 | 786 | 929 | +16.6% | |
| Gross margin, % | — | — | — | — | — | 100.00 | 22.80 | (75.93) | 62.16 | 59.82 | 42.71 | (40.2) pt | ||||||
| EBT | — | — | — | — | (9) | (149) | (552) | (651) | (218) | 136 | (336) | n/m | ||||||
| EBT margin, % | — | — | — | — | 0.00 | (405.74) | (664.40) | (712.04) | (44.43) | 23.25 | (114.67) | +23.3 pt | ||||||
| Net income | — | 0 | — | — | (9) | (102) | (514) | (552) | (232) | 28 | (180) | n/m | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | — | — | 0.00 | 0.33 | 0.42 | 0.40 | 1.83 | 2.02 | 1.00 | n/m | |||||
| Earnings | — | — | — | — | (1.53) | (0.92) | (2.60) | (2.43) | (0.87) | 0.10 | (1.20) | n/m | ||||||
| Cash flow | — | — | — | — | (0.05) | (2.06) | (1.58) | (1.37) | (0.88) | (0.17) | 0.00 | +27.2% | ||||||
| Capex | — | — | — | — | 0.00 | (0.37) | (0.25) | (0.20) | (0.21) | (0.33) | 0.00 | n/m | ||||||
| Free cash flow | — | — | — | — | (0.05) | (2.43) | (1.83) | (1.58) | (1.10) | (0.50) | 0.00 | +57.5% | ||||||
| Book value | — | — | — | — | (4.80) | (1.23) | (2.85) | (4.10) | (1.54) | (0.98) | 0.00 | (27.2%) | ||||||
| Shares, m | — | — | — | — | 6 | 111 | 198 | 227 | 268 | 290 | 273 | +116.7% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 | |||||
| P/S | — | — | — | — | — | 0.00 | 0.00 | 49.04 | 43.41 | 7.60 | 4.60 | 20.0 | ||||||
| P/B | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 | ||||||
| EV/Sales | — | — | — | — | — | 0.00 | 0.00 | 64.38 | 56.99 | 13.47 | 8.56 | 27.0 | ||||||
| EV/FCF | — | — | — | — | — | (1.95) | (5.23) | (7.48) | (6.65) | (9.40) | (11.86) | (6.1) | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | — | 0 | (228) | (312) | (312) | (237) | (50) | (12) | +175.6% | |||||
| Capex | — | — | — | — | — | (41) | (49) | (46) | (57) | (96) | (200) | +24.0% | ||||||
| Free cash flow | — | — | — | — | 0 | (269) | (361) | (359) | (294) | (146) | (212) | +241.3% | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | — | — | 1 | 8 | 63 | (66) | 262 | 270 | 214 | +198.2% | |||||
| Net debt | — | — | — | — | (1) | 383 | 698 | 949 | 1,017 | 1,127 | 1,163 | n/m | ||||||
| Shareholders’ equity | — | — | — | — | (29) | (136) | (564) | (932) | (413) | (284) | (191) | +57.8% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | — | — | (7.37) | (23.90) | (72.01) | (62.04) | (21.36) | 2.06 | 0.00 | +9.4 pt | |||||
| ROIC | — | — | — | — | 0.00 | (59.40) | (161.92) | (1,343.43) | 7.20 | 5.80 | 0.00 | +5.8 pt | ||||||
| ROE | — | — | — | — | (4.16) | 123.27 | 146.73 | 73.72 | 34.47 | (8.01) | 0.00 | (3.9) pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | — | 4 | 4 | 947 | 1,026 | 1,032 | 1,460 | — | +225.4% | |||||
| Revenue/emp, $m | — | — | — | — | 0.00 | 9.19 | 0.09 | 0.09 | 0.47 | 0.40 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Mar 2026 · fundamentals updated 26 Oct 2026
Alvotech vs peers in Drug Manufacturers Specialty & Generic (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 |
|---|---|---|---|---|---|---|---|---|---|
| XERS Xeris Biopharma Holdings, Inc. | $2.4B | — (loss-making) | — (loss-making) | +44.16% (above 0%: growing) | +1,478.95% (above 0%: growing) | +93.18% (above 0%: growing) | 88.41% | 15.78% | Compare |
| PRGO Perrigo Company plc | $2.2B | — (loss-making) | — (loss-making) | −5.24% (below 0%: shrinking) | n/m | +138.48% (above 0%: growing) | 32.45% | 2.34% | Compare |
| TRLV Trulieve Cannabis Corp. | $2.1B | — (loss-making) | — (loss-making) | −20.12% (below 0%: shrinking) | n/m | +24.49% (above 0%: growing) | 64.30% | 0.00% | Compare |
| BCRX BioCryst Pharmaceuticals, Inc. | $2.0B | — (loss-making) | — (loss-making) | +13.11% (above 0%: growing) | +150.00% (above 0%: growing) | −18.69% (below 0%: shrinking) | 99.13% | 29.58% | Compare |
| ALVO Alvotech | $1.8B | — (loss-making) | 111× | +2,310.95% (above 0%: growing) | −99.51% (below 0%: shrinking) | −496.58% (below 0%: shrinking) | 56.47% | 9.14% | |
| ANIP ANI Pharmaceuticals, Inc. | $1.6B | 13.3× | 14.3× | +27.64% (above 0%: growing) | +29.41% (above 0%: growing) | +85.49% (above 0%: growing) | 61.64% | 18.01% | Compare |
| PCRX Pacira BioSciences, Inc. | $1.5B | 38.4× | 56.6× | −1.59% (below 0%: shrinking) | +500.00% (above 0%: growing) | −18.47% (below 0%: shrinking) | 0.00% | 12.61% | Compare |
| PAHC Phibro Animal Health Corporation | $1.4B | 14.0× | 12.6× | +6.29% (above 0%: growing) | +12.31% (above 0%: growing) | +262.08% (above 0%: growing) | 33.23% | 12.83% | Compare |
| ETON Eton Pharmaceuticals, Inc. | $1.4B | 26.8× | 48.0× | +157.91% (above 0%: growing) | n/m | +172.55% (above 0%: growing) | 76.48% | 39.73% | Compare |
| Median of peers | $1.8B | 20.4× | 31.2× | +9.70% | +150.00% | +89.34% | 62.97% | 14.31% |