Income statement, balance sheet and cash flow statement for the last 9 fiscal years, taken from the XBRL data Alector, Inc. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2017
FY2019
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
3.74
27.7
21.2
21.1
207
134
97.1
101
21
Research and development
29.9
73
101
157
189
210
192
186
123
General and administrative
6.5
11.9
35.1
59.4
55
61
56.7
59.6
54
Operating expenses
36.4
85
136
216
244
271
249
246
177
Operating income
-32.7
-57.3
-114
-195
-37.4
-138
-152
-145
-156
Other non-operating income
0.2
5.04
9.02
4.95
1.03
7.78
26.6
26.1
13.2
Pre-tax income
-190
-36.3
-130
-125
-119
-143
Income tax
0
0
0
3.25
5.21
0.13
0.17
Net income
-32.5
-52.2
-105
-190
-36.3
-133
-130
-119
-143
EBITDA
-32
-56.3
-111
-189
-31
-132
-146
-140
-150
EPS, basic
-3.55
-4.62
-1.71
-2.45
-0.45
-1.62
-1.56
-1.23
-1.39
EPS, diluted
-3.55
-4.62
-1.71
-2.45
-0.45
-1.62
-1.56
-1.23
-1.39
Shares, basic (weighted)
9.14
11.3
61.7
77.8
80.4
82.5
83.7
96.6
103
Shares, diluted (weighted)
9.14
11.3
61.7
77.8
80.4
82.5
83.7
96.6
103
Balance sheet
FY2017
FY2019
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
32.5
65.5
89.6
50
329
154
74.6
33
65.8
Short-term investments
225
263
363
406
559
474
380
190
Other current assets
2.77
4.36
8.2
7.07
11
16.9
11.4
10.4
Total current assets
293
357
422
750
726
566
425
266
Property, plant and equipment
10.9
33.9
30.2
27.3
25.5
21.9
17.1
10.8
Lease right-of-use assets
28.5
32.5
30.6
27.8
25.2
20
13.7
Other non-current assets
2.77
0.68
2.62
5.57
6.41
7.42
4.54
0.39
Total assets
308
422
488
815
788
622
468
293
Accounts payable
0.13
0.28
3
4.75
4.19
3.78
2.22
1.69
Accrued liabilities
8.44
18.3
22.5
27.5
27.8
30.4
28.9
19.3
Deferred revenue
34.9
30.2
23.9
90.8
48.2
83
23.7
6.68
Short-term debt
0
0.37
Total current liabilities
47.9
62
68.1
140
93.8
178
125
69.5
Long-term debt
0
9.39
9.32
Lease liabilities
41.5
43.7
39.8
35.3
30.5
24.4
17.5
Other non-current liabilities
0.1
0.49
0.47
0.16
0.76
1.37
1.23
1.74
Total liabilities
195
227
221
514
573
488
342
263
Total debt
0
10
10
Paid-in capital
17.1
414
677
748
799
844
956
1,003
Retained earnings
-114
-220
-410
-446
-580
-710
-829
-972
Other comprehensive income
-0.04
0.14
0.61
-0.94
-4.58
0.18
0.26
0.17
Shareholders' equity
-52
-97.4
195
268
301
214
134
127
30.6
Total equity
-52
-97.4
195
268
301
214
134
127
30.6
Total liabilities and equity
308
422
488
815
788
622
468
293
Shares outstanding
13.8
69.1
79.3
82
82.9
84.9
99.1
110
Cash flow statement
FY2017
FY2019
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-32.5
-52.2
-105
-190
-36.3
-133
-130
-119
-143
Depreciation and amortization
0.68
1.02
3.78
5.87
6.33
5.71
5.73
5.41
5.72
Stock-based compensation
5.35
6.93
16.3
30.5
40.8
46.1
42.8
39.5
26.7
Change in payables
-0.04
-0.81
0.15
2.41
1.92
-0.57
-0.38
-1.44
-0.52
Cash from operations
-17.8
127
-99.3
-167
299
-20.3
-184
-230
-184
Capital expenditures
-0.8
-1.88
-15.3
-5.03
-3.25
-4.12
-2.38
-1.26
-0.04
Purchases of investments
-472
-530
-507
-343
-557
-552
-468
-272
Sales and maturities of investments
250
0
0
10.7
0
3.51
2.57
2.98
Cash from investing
-0.8
-224
-48.9
-105
-49.7
-159
102
107
197
Stock issued
1.52
6.33
28.5
3.06
1.08
71.1
20
Cash from financing
-0.02
131
172
232
30.3
4.51
2.55
81.5
20.2
Net change in cash
-18.6
34.5
24.2
-39.7
279
-175
-79.7
-41.2
32.8
Free cash flow
-18.6
126
-115
-172
295
-24.4
-187
-231
-184
Interest paid
0
0.86
Income taxes paid
-0.1
-0.88
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $1.95 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Operating margin
-914.1%
Operating income / revenue.
EBITDA margin
-881.3%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-849.6%
Pre-tax income / revenue.
Net margin
-851.7%
Net income / revenue.
FCF margin
-1,145.0%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
-1,144.0%
Cash from operations / revenue.
Return on assets (ROA)
-58.1%
Net income / average total assets.
R&D / revenue
716.4%
Research and development expense / revenue.
Stock-based pay / revenue
121.1%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
1.2%
Capital expenditures / revenue.
D&A / revenue
32.8%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
-79.1%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
-46.0%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
-0.1%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y
-75.8%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
-47.7%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y
-35.2%
Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y
-37.4%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-28.1%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
-9.7%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y
6.6%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
7.7%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y
5.8%
Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
5.26x
Current assets / current liabilities.
Quick ratio
5.05x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
5.05x
(Cash + short-term investments) / current liabilities.
Debt / assets
4.9%
Total debt / total assets.
Liabilities / assets
104.9%
Total liabilities / total assets.
Net debt
-$163.0M
Total debt - cash - short-term investments. Negative means more cash than debt.
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share
$0.12
Revenue / diluted weighted shares.
FCF per share
-$1.42
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$1.42
Cash from operations / diluted weighted shares.
Book value per share
-$0.09
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
15.7x
Market cap / revenue.
EV/Sales
3.96x
Enterprise value / revenue.
FCF yield
-72.7%
Free cash flow / market cap.
Earnings yield
-54.1%
Net income / market cap (the inverse of P/E).
What was Alector, Inc.'s revenue in fiscal 2025?
Alector, Inc. reported revenue of $21.0M for fiscal 2025, 79.1% lower than the year before.
Was Alector, Inc. profitable in fiscal 2025?
No. It reported a net loss of $142.9M.
How much free cash flow did Alector, Inc. generate in fiscal 2025?
Cash from operations of $184.0M minus capital expenditures of $41.0K left free cash flow of -$184.1M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.