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Stocks · Health care · Biological Products, (No Diagnostic Substances)

Alvotech

ALVO Clue Score51
Luxembourg Fiscal year ends December CIK 0001898416
$5.50 -4.84% Close, 12 Oct 2026
Alert on the numbers Alert on insider trades
Price $5.50 −39.02% Close, 12 Oct 2026

Closing prices at the end of each trading day, from 16 Jun 2022. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2020Revenue66.6Operating income−137.5Net income−170.0EPS, diluted−1.82Fiscal year 2021Revenue36.8 −44.8%Operating income−235.5Net income−101.5EPS, diluted−0.92Fiscal year 2022Revenue83.0 +125.8%Operating income−346.4Net income−513.6EPS, diluted−2.60Fiscal year 2023Revenue91.4 +10.1%Operating income−354.9Net income−551.7EPS, diluted−2.43Fiscal year 2024Revenue489.7 +435.6%Operating income69.6Net income−231.9EPS, diluted−0.87Fiscal year 2025Revenue586.3 +19.7%Operating income78.2Net income27.9EPS, diluted0.10
FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 66.6 36.8 83.0 91.4 489.7 586.3
Growth −44.8% +125.8% +10.1% +435.6% +19.7%
Operating income −137.5 −235.5 −346.4 −354.9 69.6 78.2
Net income −170.0 −101.5 −513.6 −551.7 −231.9 27.9
Growth
EPS, diluted −1.82 −0.92 −2.60 −2.43 −0.87 0.10

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2020Operating margin−206.5%Net margin−255.3%Free cash flow margin−122.8%Fiscal year 2021Operating margin−640.3%Net margin−276.0%Free cash flow margin−676.1%Fiscal year 2022Operating margin−417.3%Net margin−618.6%Free cash flow margin−421.9%Fiscal year 2023Operating margin−388.1%Net margin−603.4%Free cash flow margin−377.8%Fiscal year 2024Operating margin14.2%Net margin−47.3%Free cash flow margin−59.3%Fiscal year 2025Operating margin13.3%Net margin4.8%Free cash flow margin−19.6%
FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin −206.5% −640.3% −417.3% −388.1% 14.2% 13.3%
Net margin −255.3% −276.0% −618.6% −603.4% −47.3% 4.8%
Free cash flow margin −122.8% −676.1% −421.9% −377.8% −59.3% −19.6%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2020Operating cash flow−74.3Capital expenditure−7.5Free cash flow−81.8Dividends paid0.0Fiscal year 2021Operating cash flow−228.2Capital expenditure−20.5Free cash flow−248.6Dividends paid0.0Fiscal year 2022Operating cash flow−312.4Capital expenditure−37.9Free cash flow−350.3Dividends paid0.0Fiscal year 2023Operating cash flow−312.2Capital expenditure−33.2Free cash flow−345.4Dividends paid0.0Fiscal year 2024Operating cash flow−236.8Capital expenditure−53.7Free cash flow−290.5Dividends paid0.0Fiscal year 2025Operating cash flow−50.2Capital expenditure−64.5Free cash flow−114.7Dividends paid0.0
FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow −74.3 −228.2 −312.4 −312.2 −236.8 −50.2
Capital expenditure −7.5 −20.5 −37.9 −33.2 −53.7 −64.5
Free cash flow −81.8 −248.6 −350.3 −345.4 −290.5 −114.7
Growth
Dividends paid 0.0 0.0 0.0 0.0 0.0 0.0

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
Cash and securitiesTotal debt
Fiscal year 2020Cash and securities31.7Shareholders’ equity−867.2Fiscal year 2021Cash and securities17.6Total debt400.9Net cash (debt)−383.4Shareholders’ equity−135.6Fiscal year 2022Cash and securities66.4Total debt784.5Net cash (debt)−718.1Shareholders’ equity−564.4Fiscal year 2023Cash and securities11.2Total debt960.2Net cash (debt)−949.0Shareholders’ equity−932.5Fiscal year 2024Cash and securities51.4Total debt1,068.6Net cash (debt)−1,017.2Shareholders’ equity−412.8Fiscal year 2025Cash and securities172.4Total debt1,299.1Net cash (debt)−1,126.7Shareholders’ equity−284.5
FY2020FY2021FY2022FY2023FY2024FY2025
Cash and securities 31.7 17.6 66.4 11.2 51.4 172.4
Total debt n/a 400.9 784.5 960.2 1,068.6 1,299.1
Net cash (debt) n/a −383.4 −718.1 −949.0 −1,017.2 −1,126.7
Shareholders’ equity −867.2 −135.6 −564.4 −932.5 −412.8 −284.5

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022† 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
66.6 36.8 83.0 91.4 489.7 586.3
Growth −44.8% +125.8% +10.1% +435.6% +19.7%
n/a 0.0 64.1 160.9 185.3 235.6
148.1 191.0 180.6 210.8 171.3 184.2
58.9 84.1 186.7 76.6 65.7 90.9
−137.5 −235.5 −346.4 −354.9 69.6 78.2
Growth +12.3%
−291.8 −149.2 −551.6 −651.0 −217.6 136.3
−121.7 −47.7 −38.1 −99.3 14.3 108.4
−170.0 −101.5 −513.6 −551.7 −231.9 27.9
Growth
Per share
−1.82 −0.92 −2.60 −2.43 −0.87 0.10
−1.82 −0.92 −2.60 −2.43 −0.87 0.10
Growth
93.6 110.7 197.7 227.3 267.9 289.7
93.6 110.7 197.7 227.3 267.9 291.3
Growth +18.2% +14.9% +17.9% +8.7%

† The diluted share count jumps at 2022, so per-share figures either side of that column are not comparable. Usually a split, but the break lands on the restatement boundary rather than on the split date, because every column is that period’s latest filing.

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 54.5% a year over five years.
  • Operating margin is up 219.8 points on five years ago, at 13.3%.
  • A net loss in 5 of 6 years on file.