NASDAQ : ALVO
Alvotech — Financial statements
Healthcare · Drug Manufacturers - Specialty & Generic · Luxembourg
Last price 4.65 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 1.66B
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Financial statements
Alvotech (ALVO) reported revenue of 494.61M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 491.95M | 586.32M | 489.68M | 91.43M | 83.03M | 36.77M |
| Other Revenue | 2.65M | 2.58M | 2.30M | 1.95M | 1.99M | 2.91M |
| Revenue | 494.61M | 588.90M | 491.98M | 93.38M | 85.02M | 39.68M |
| Cost of Revenue | 194.57M | 235.56M | 185.31M | 160.86M | 64.09M | |
| Gross Profit | 300.04M | 353.35M | 306.67M | -67.47M | 20.92M | 39.68M |
| Selling, General & Admin | 110.23M | 86.35M | 64.91M | -7.77M | 163.05M | 67.64M |
| Research & Development | 137.67M | 184.19M | 171.31M | 210.83M | 180.62M | 191.01M |
| Operating Expenses | 247.90M | 270.54M | 236.22M | 203.06M | 343.67M | 258.64M |
| Operating Income | 52.14M | 82.81M | 70.44M | -270.53M | -322.75M | -218.96M |
| Interest Expense | -155.72M | -146.08M | -157.60M | -134.82M | -77.50M | -114.56M |
| Interest & Investment Income | 3.19M | 2.77M | 4.62M | 4.82M | 912.00K | 19.00K |
| Earnings From Equity Investments | -7.15M | -2.59M | -2.42M | |||
| Currency Exchange Gain (Loss) | 3.92M | -16.84M | 8.16M | -5.18M | 10.57M | 2.68M |
| Other Non Operating Income (Expenses) | 59.94M | 191.85M | -70.04M | -132.33M | -86.77M | 48.74M |
| EBT Excluding Unusual Items | -36.52M | 114.50M | -144.41M | -545.20M | -478.13M | -284.49M |
| Merger & Restructuring Charges | -4.60M | -4.60M | -800.00K | -918.00K | -39.70M | -12.50M |
| Gain (Loss) on Sale of Investments | -2.97M | -21.52M | ||||
| Asset Writedown | -3.99M | |||||
| Other Unusual Items | 8.96M | 26.45M | -69.38M | -83.41M | -33.82M | 151.79M |
| Pretax Income | -32.16M | 136.35M | -217.56M | -651.05M | -551.65M | -149.20M |
| Income Tax Expense | 147.43M | 108.43M | 14.30M | -99.32M | -38.07M | -47.69M |
| Net Income | -179.59M | 27.92M | -231.86M | -551.73M | -513.58M | -101.50M |
| Net Income to Common | -179.59M | 27.92M | -231.86M | -551.73M | -513.58M | -101.50M |
| Shares Outstanding (Basic) | 295.33M | 289.73M | 267.92M | 227.26M | 197.72M | 110.67M |
| Shares Outstanding (Diluted) | 295.33M | 291.34M | 267.92M | 227.26M | 197.72M | 110.67M |
| EPS (Basic) | -0.61 | 0.10 | -0.87 | -2.43 | -2.60 | -0.92 |
| EPS (Diluted) | -0.61 | 0.10 | -0.87 | -2.43 | -2.60 | -0.92 |
| Free Cash Flow | -261.38M | -114.67M | -290.50M | -345.42M | -350.27M | -248.63M |
| Free Cash Flow Per Share | -0.89 | -0.39 | -1.08 | -1.52 | -1.77 | -2.25 |
| Gross Margin | 60.66% | 60.00% | 62.33% | -72.26% | 24.61% | 100.00% |
| Operating Margin | 10.54% | 14.06% | 14.32% | -289.70% | -379.63% | -551.76% |
| Profit Margin | -36.31% | 4.74% | -47.13% | -590.83% | -604.09% | -255.78% |
| Free Cash Flow Margin | -52.84% | -19.47% | -59.05% | -369.90% | -412.00% | -626.53% |
| EBITDA | 75.73M | 103.98M | 87.55M | -255.86M | -312.21M | -209.46M |
| EBITDA Margin | 15.31% | 17.66% | 17.79% | -273.99% | ||
| D&A For EBITDA | 23.60M | 21.17M | 17.11M | 14.67M | 10.54M | 9.50M |
| EBIT | 52.14M | 82.81M | 70.44M | -270.53M | -322.75M | -218.96M |
| EBIT Margin | 10.54% | 14.06% | 14.32% | -289.70% | ||
| Effective Tax Rate | 79.52% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 142.75M | 172.36M | 51.43M | 11.16M | 66.43M | 17.56M |
| Cash & Short-Term Investments | 142.75M | 172.36M | 51.43M | 11.16M | 66.43M | 17.56M |
| Accounts Receivable | 115.25M | 134.18M | 227.52M | 76.48M | 58.34M | 47.35M |
| Other Receivables | 4.71M | 1.68M | 6.48M | 1.93M | 6.58M | 1.80M |
| Receivables | 119.96M | 135.86M | 234.00M | 78.42M | 64.92M | 49.16M |
| Inventory | 226.55M | 220.05M | 127.89M | 74.43M | 71.47M | 39.06M |
| Prepaid Expenses | 43.28M | 27.82M | 23.98M | 22.04M | 20.60M | 9.32M |
| Other Current Assets | 12.42M | 17.92M | 17.72M | 8.80M | 7.32M | 4.72M |
| Total Current Assets | 544.97M | 574.01M | 455.02M | 194.84M | 230.74M | 119.82M |
| Property, Plant & Equipment | 515.29M | 494.69M | 409.74M | 356.58M | 268.10M | 205.33M |
| Long-Term Investments | 18.49M | 48.57M | 55.31M | |||
| Goodwill | 12.47M | 12.84M | 11.33M | 12.06M | 11.64M | 12.37M |
| Other Intangible Assets | 142.48M | 81.83M | 20.62M | 19.08M | 25.65M | 21.51M |
| Long-Term Accounts Receivable | 165.01M | 122.93M | 22.71M | 10.86M | 3.29M | 1.48M |
| Long-Term Deferred Tax Assets | 192.84M | 192.21M | 298.36M | 309.81M | 209.50M | 170.42M |
| Other Long-Term Assets | 14.42M | 8.58M | 3.62M | 28.38M | 30.97M | 11.75M |
| Total Assets | 1.59B | 1.49B | 1.22B | 950.09M | 828.44M | 597.98M |
| Accounts Payable | 133.16M | 126.12M | 67.13M | 80.56M | 49.19M | 28.59M |
| Accrued Expenses | 120.12M | 94.22M | 59.40M | 62.72M | 54.05M | 42.01M |
| Current Portion of Long-Term Debt | 41.95M | 36.92M | 32.70M | 38.02M | 19.92M | 2.77M |
| Current Portion of Leases | 11.82M | 12.08M | 9.52M | 9.68M | 5.16M | 7.29M |
| Current Income Taxes Payable | 2.00M | 1.04M | 204.00K | 925.00K | 934.00K | 841.00K |
| Current Unearned Revenue | 18.19M | 30.36M | 15.98M | 59.18M | 36.91M | 29.69M |
| Other Current Liabilities | 3.93M | 3.33M | 8.46M | 9.85M | 1.13M | 638.00K |
| Total Current Liabilities | 331.18M | 304.08M | 193.40M | 260.95M | 167.29M | 111.84M |
| Long-Term Debt | 1.26B | 1.26B | 1.04B | 922.13M | 744.65M | 398.14M |
| Long-Term Leases | 133.96M | 138.00M | 112.14M | 105.63M | 35.37M | 114.84M |
| Long-Term Unearned Revenue | 4.18M | 5.50M | 80.72M | 73.26M | 57.02M | 44.84M |
| Long-Term Deferred Tax Liabilities | 6.90M | 7.87M | 1.81M | 53.00K | 309.00K | 150.00K |
| Other Long-Term Liabilities | 38.68M | 53.99M | 210.22M | 520.55M | 388.22M | 63.77M |
| Total Liabilities | 1.78B | 1.77B | 1.63B | 1.88B | 1.39B | 733.59M |
| Common Stock | 3.38M | 2.93M | 2.83M | 2.28M | 2.13M | 135.00K |
| Additional Paid-In Capital | 2.27B | 2.11B | 2.01B | 1.23B | 1.06B | 1.00B |
| Retained Earnings | -2.48B | -2.41B | -2.44B | -2.21B | -1.65B | -1.14B |
| Comprehensive Income & Other | 12.30M | 16.68M | 15.05M | 41.38M | 29.14M | 4.67M |
| Shareholders' Equity | -191.48M | -284.49M | -412.77M | -932.49M | -564.42M | -135.61M |
| Total Liabilities & Equity | 1.59B | 1.49B | 1.22B | 950.09M | 828.44M | 597.98M |
| Total Debt | 1.45B | 1.45B | 1.19B | 1.08B | 805.10M | 523.05M |
| Net Cash (Debt) | -1.31B | -1.28B | -1.14B | -1.06B | -738.67M | -505.50M |
| Net Cash Per Share | -4.43 | -4.38 | -4.25 | -4.68 | -3.74 | -4.57 |
| Filing Date Shares Outstanding | 356.82M | 312.02M | 301.81M | 266.82M | 248.65M | 13.48M |
| Total Common Shares Outstanding | 356.82M | 312.02M | 301.81M | 266.82M | 248.65M | 13.48M |
| Working Capital | 213.79M | 269.94M | 261.62M | -66.11M | 63.44M | 7.98M |
| Book Value Per Share | -0.54 | -0.91 | -1.37 | -3.49 | -2.27 | -10.06 |
| Tangible Book Value | -346.42M | -379.16M | -444.72M | -963.63M | -601.71M | -169.49M |
| Tangible Book Value Per Share | -0.97 | -1.22 | -1.47 | -3.61 | -2.42 | -12.57 |
| Machinery | 313.95M | 254.16M | 189.91M | 156.71M | 122.46M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -179.59M | 27.92M | -231.86M | -551.73M | -513.58M | -101.50M |
| Depreciation & Amortization | 39.12M | 35.66M | 30.48M | 23.58M | 20.41M | 18.20M |
| Other Amortization | 15.32M | 11.40M | 4.43M | 2.28M | 83.43M | 1.59M |
| Loss (Gain) From Sale of Assets | 365.00K | |||||
| Asset Writedown & Restructuring Costs | 1.78M | 2.75M | 6.08M | |||
| Loss (Gain) From Sale of Investments | 2.97M | 21.52M | ||||
| Loss (Gain) on Equity Investments | 7.15M | 2.59M | 2.42M | |||
| Stock-Based Compensation | 9.22M | 7.38M | 7.63M | 18.11M | 15.81M | 17.95M |
| Provision & Write-off of Bad Debts | 703.00K | -946.00K | 18.50M | |||
| Other Operating Activities | 113.00M | -15.62M | 239.10M | 119.92M | 124.08M | -166.10M |
| Change in Accounts Receivable | -90.91M | -1.76M | -164.25M | -25.71M | -12.79M | -13.53M |
| Change in Inventory | -68.71M | -90.13M | -49.97M | -11.30M | -32.41M | -29.41M |
| Change in Accounts Payable | 23.91M | 45.31M | -13.70M | 31.77M | 16.44M | 14.32M |
| Change in Unearned Revenue | -50.62M | -69.33M | -31.45M | 35.40M | 19.40M | 21.47M |
| Change in Other Net Operating Assets | -9.46M | -1.72M | -29.27M | -3.82M | -38.52M | 344.00K |
| Operating Cash Flow | -198.70M | -50.20M | -236.84M | -312.19M | -312.39M | -228.17M |
| Capital Expenditures | -62.67M | -64.47M | -53.66M | -33.23M | -37.88M | -20.46M |
| Sale of Property, Plant & Equipment | 133.00K | 379.00K | ||||
| Cash Acquisitions | -14.04M | -14.04M | ||||
| Sale (Purchase) of Intangibles | -72.45M | -31.66M | -3.34M | -13.24M | -11.12M | -20.17M |
| Investment in Securities | 2.98M | 5.95M | 12.00M | |||
| Other Investing Activities | 26.13M | -14.91M | ||||
| Investing Cash Flow | -146.18M | -104.22M | -18.87M | -46.34M | -63.54M | -40.63M |
| Long-Term Debt Issued | 233.48M | 920.76M | 278.83M | 353.68M | 113.82M | |
| Long-Term Debt Repaid | -35.79M | -768.78M | -107.64M | -95.86M | -44.85M | |
| Lease Payments | -11.68M | -10.37M | -10.20M | -8.27M | -11.15M | -7.35M |
| Net Debt Issued (Repaid) | 190.22M | 197.69M | 151.98M | 171.19M | 257.82M | 68.97M |
| Issuance of Common Stock | 164.60M | 82.48M | 155.37M | 143.27M | 174.93M | 185.86M |
| Other Financing Activities | -18.89M | -9.34M | -10.05M | -13.14M | -7.84M | |
| Financing Cash Flow | 335.93M | 270.83M | 297.31M | 301.32M | 424.91M | 254.83M |
| Foreign Exchange Rate Adjustments | 250.00K | 4.51M | -1.32M | 1.94M | -113.00K | -161.00K |
| Net Cash Flow | -8.70M | 120.93M | 40.27M | -55.27M | 48.87M | -14.13M |
| Free Cash Flow | -261.38M | -114.67M | -290.50M | -345.42M | -350.27M | -248.63M |
| Free Cash Flow Margin | -52.84% | -19.47% | -59.05% | -369.90% | -412.00% | -626.53% |
| Free Cash Flow Per Share | -0.89 | -0.39 | -1.08 | -1.52 | -1.77 | -2.25 |
| Levered Free Cash Flow | -123.13M | 24.60M | -350.90M | -204.27M | -216.92M | -218.32M |
| Unlevered Free Cash Flow | -38.94M | 106.69M | -256.02M | -121.66M | -168.50M | -148.31M |
| Free Cash Flow After Leases | -273.06M | -125.03M | -300.70M | -353.69M | -361.42M | -255.98M |
| Cash Interest Paid | 123.09M | 58.95M | 54.92M | 57.25M | 35.37M | 28.00M |
| Cash Income Tax Paid | 1.02M | 780.00K | 2.04M | 1.35M | 834.00K | 155.00K |
| Change in Working Capital | -195.78M | -117.64M | -288.64M | 26.33M | -47.89M | -6.81M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 1.66B | 1.61B | 3.99B | 3.05B | 2.49B | 308.75M |
| Enterprise Value | 2.97B | 2.85B | 5.05B | 3.99B | 3.11B | 953.91M |
| Last Close Price | 4.65 | 5.13 | 13.23 | 11.48 | 10.00 | 9.88 |
| PE Ratio | 57.52 | |||||
| Forward PE | 46.09 | 36.72 | 102.56 | |||
| PS Ratio | 3.36 | 2.73 | 8.11 | 32.64 | 29.25 | 7.78 |
| PB Ratio | -5.64 | -9.67 | -3.27 | -4.41 | -2.28 | |
| EV/Sales Ratio | 6.00 | 4.83 | 10.27 | 42.78 | 36.59 | 24.04 |
| EV/EBITDA Ratio | 39.20 | 27.36 | 57.72 | |||
| EV/EBIT Ratio | 56.94 | 34.36 | 71.73 | |||
| Debt / Equity Ratio | -7.58 | -5.09 | -2.88 | -1.15 | -1.43 | -3.86 |
| Debt / EBITDA Ratio | 15.91 | 12.23 | 11.79 | |||
| Net Debt / Equity Ratio | -6.84 | -4.49 | -2.76 | -1.14 | -1.31 | -3.73 |
| Net Debt / EBITDA Ratio | 17.29 | 12.28 | 13.01 | -4.16 | -2.37 | -2.41 |
| Net Debt / FCF Ratio | -5.01 | -11.13 | -3.92 | -3.08 | -2.11 | -2.03 |
| Asset Turnover | 0.33 | 0.43 | 0.45 | 0.10 | 0.12 | 0.07 |
| Inventory Turnover | 1.02 | 1.35 | 1.83 | 2.21 | 1.16 | |
| Quick Ratio | 0.79 | 1.01 | 1.48 | 0.34 | 0.79 | 0.60 |
| Current Ratio | 1.65 | 1.89 | 2.35 | 0.75 | 1.38 | 1.07 |
| Return on Assets (ROA) | 2.19% | 3.82% | 4.06% | -19.01% | -28.28% | -25.52% |
| Return on Invested Capital (ROIC) | 4.31% | 1.53% | 8.21% | -40.07% | -56.26% | -48.14% |
| Return on Capital Employed (ROCE) | 4.20% | 7.00% | 6.90% | -39.30% | -48.80% | -45.00% |
| Earnings Yield | -13.08% | 1.74% | -5.81% | -18.10% | -20.66% | -32.88% |
| FCF Yield | -15.75% | -7.14% | -7.28% | -11.33% | -14.09% | -80.53% |
| Buyback Yield / Dilution | -3.53% | -8.74% | -17.89% | -14.94% | -78.65% | -18.18% |