Astera Labs, Inc. (ALAB) vs Cerebras Systems Inc. (CBRS)

Astera Labs, Inc. and Cerebras Systems Inc. are both Semiconductors companies. Astera Labs, Inc. is the larger, with a market value of $44.9B against $24.4B — 1.8× the size. Cerebras Systems Inc. has negative trailing earnings, so its P/E is not meaningful; Astera Labs, Inc. trades at 106×. Astera Labs, Inc. has the higher net margin (30.7% vs −63.9%) and the higher return on invested capital (36.2% vs −21.1%). Across the 14 metrics below, Astera Labs, Inc. leads on 11 and Cerebras Systems Inc. on 3.

Valuation

Metric ALAB CBRS Semiconductors median
P/E 106.12 n/m 43.75
P/S 33.03 25.26 7.08
P/B 23.00 1.59 4.85
Price to free cash flow 143.47 n/m 48.66
EV/EBITDA 137.41 n/m 24.70
EV/Sales 31.98 12.34 5.99
Earnings yield 0.94% (1.43%) 0.81%
Free cash flow yield 0.70% (6.22%) 0.78%

Profitability

Metric ALAB CBRS Semiconductors median
Gross margin 75.13% 32.17% 52.21%
Operating margin 22.75% (100.27%) 4.94%
Net margin 30.74% (63.86%) 4.26%
Free cash flow margin 23.02% (157.07%) 8.00%
Return on equity 25.83% 0.00% 3.17%
Return on assets 23.07% (6.33%) 2.03%
Return on invested capital 36.15% (21.13%) 2.46%

Growth

Metric ALAB CBRS Semiconductors median
Revenue growth (TTM) 98.48% — 15.93%
EPS growth (last fiscal year) 290.62% — 26.67%
Revenue growth, 5-year CAGR — — 5.60%
Net income growth, 5-year CAGR — — 0.00%

Health

Metric ALAB CBRS Semiconductors median
Debt to equity 0.00 0.13 0.07
Current ratio 10.05 5.82 3.38
Net debt to EBITDA (6.90) — 0.53

Dividend

Metric ALAB CBRS Semiconductors median
Dividend yield — — 1.37%
Payout ratio — — 0.38

Size

Metric ALAB CBRS Semiconductors median
Market cap 44.88b 24.44b 5.62b

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