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ALVOAlvotech
$3.46$1.2B
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ALVO logoAlvotech(ALVO)Earnings, Financials & Key Ratios

ALVO•NASDAQ
$3.46
34.6× P/E·Price updated Jul 6, 2026
SectorHealthcareIndustrySpecialty & Generic PharmaSub-IndustryBiosimilar developers and manufacturers
AboutAlvotech, through its subsidiaries, develops and manufactures biosimilar medicines for patients worldwide. It offers biosimilar products in the therapeutic areas of autoimmune, eye, and bone disorders, as well as cancer. The company's lead program is AVT02, a high concentration formulation biosimilar to Humira to treat various inflammatory conditions, including rheumatoid arthritis, psoriatic arthritis, Crohn's disease, ulcerative colitis, plaque psoriasis, and other indications; AVT04, a biosimilar to Stelara to treat various inflammatory conditions comprising psoriatic arthritis, Crohn's disease, ulcerative colitis, plaque psoriasis, and other indications; AVT06, a biosimilar to Eylea to treat various conditions, such as age-related macular degeneration, macular edema, and diabetic retinopathy; and AVT03, a biosimilar to Xgeva and Prolia, which is in the pre-clinical phase to treat prevent bone fracture, spinal cord compression, and the need for radiation or bone surgery in patients with certain types of cancer, as well as prevent bone loss and increase bone mass. It also offers AVT05, a biosimilar to Simponi and Simponi Aria, which is in early phase development to treat various inflammatory conditions, including rheumatoid arthritis, psoriatic arthritis, ulcerative colitis, and other indications; AVT16, a biosimilar to an immunology product; AVT23, a biosimilar to Xolair, which is in late-stage development to treat nasal polyps; and AVT33, a biosimilar to an oncology product. The company was founded in 2013 and is headquartered in Reykjavik, Iceland.Show more
  • Revenue$586M+19.7%
  • EBITDA$116M+15.0%
  • Net Income$28M+112.0%
  • EPS (Diluted)0.10+111.5%
  • Gross Margin59.82%-3.8%
  • EBITDA Margin19.79%-4.0%
  • Operating Margin13.34%-6.2%
  • Net Margin4.76%+110.1%

ALVO Price & Volume

Alvotech (ALVO) stock price & volume — 10-year historical chart

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Persistent Milestone Dependency Masks Structural Financial Fragility

Investment Thesis • Updated 2026Q1

VerdictNegative
Growth:Mixed
Profitability:Strained
Financial:Vulnerable
Cash Flow:Burning
Primary Risk:Regulatory and milestone dependency

Key Thesis Takeaways

  • Alvotech's business model remains heavily reliant on volatile, non-recurring milestone payments, which obscures the underlying commercial viability of its biosimilar portfolio.
  • While the company has invested heavily in its $495.2 million net PPE manufacturing infrastructure, the persistent negative equity position of $282.3 million and high debt load of $1.5 billion create significant financial risk.
  • Investors should monitor the company's ability to transition from milestone-driven revenue to consistent product-led cash flow, as current operations continue to burn significant capital.

Verdict Logic

the company's inability to generate sustainable free cash flow, evidenced by a $106.6 million outflow in 2026Q1, combined with a $1.5 billion debt load, presents an unfavorable risk-reward profile.

ALVO Growth Metrics

Alvotech (ALVO) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-
5 Years54.49%
3 Years91.85%
TTM-4.47%

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM-183.62%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM-201.47%

Return on Capital

10 Years-30.34%
5 Years-29.91%
3 Years-12.46%
Last Year7.07%

ALVO Recent Earnings

Alvotech (ALVO) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 5/12 qtrs (42%)●Beat Revenue 6/12 qtrs (55%)
Q2 2026Latest
May 6, 2026
Metric
Actual
Est
EPS
$0.09-28.6%
$0.07
Rev
$106M-5.8%
$112M
Q2 2026
Mar 18, 2026
Metric
Actual
Est
EPS
$0.37-6334.8%
$0.01
Rev
$173M+6.8%
$162M
Q4 2025
Nov 12, 2025
Metric
Actual
Est
EPS
$0.02-140.0%
$0.05
Rev
$114M-30.9%
$165M
Q3 2025
Aug 13, 2025
Metric
Actual
Est
EPS
$0.14+153.8%
$0.26
Rev
$173M+11.4%
$156M
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMay 6, 2026
$0.09vs $0.07-28.6%
$106Mvs $112M-5.8%
Q2 2026Mar 18, 2026
$0.37vs $0.01-6334.8%
$173Mvs $162M+6.8%
Q4 2025Nov 12, 2025
$0.02vs $0.05-140.0%
$114Mvs $165M-30.9%
Q3 2025Aug 13, 2025
$0.14vs $0.26+153.8%
$173Mvs $156M+11.4%
Based on last 12 quarters of dataView full earnings history →

Latest ALVO News

Recent stock market news and headlines for Alvotech (ALVO)

GlobeNewsWire·6 days ago
Alvotech further strengthens liquidity by securing term loan facility of $75 million

REYKJAVIK, ICELAND (July 1, 2026) — Alvotech (NASDAQ: ALVO; ALVO-SDB), a global biotechnology company specializing in the development and manufacture of biosimilar medicines for patients worldwide, today announced that it has amended its existing credit agreement with funds managed by GoldenTree Asset Management LP and other existing lenders of Alvotech to provide a term loan facility of up to $75 million in additional capital.

GlobeNewsWire·Jun 22, 2026
Transactions of Managers and Closely Associated Persons

Attached is a copy of a filing with the Luxembourg Commission de Surveillance du Secteur Financier (CSSF) regarding transactions of managers and closely associated persons, announcing the acquisition of 10,133,333 shares in Alvotech by Celtic Lux Holdings S.a. r.l. (formerly known as Alvogen Lux Holdings S.a. r.l.) at a price of USD 3.75 per share. The date of the transaction was June 16, 2026.

GlobeNewsWire·Jun 18, 2026
Alvotech Announces Closing of Public Offering and Full Exercise by Underwriters of Option to Purchase Additional Shares, Raising an Aggregate of $165 Million with Concurrent Private Placement

REYKJAVIK,  ICELAND (June 18, 2026) — Alvotech (NASDAQ: ALVO; ALVO-SDB) (“Alvotech” or the “Company”), a global biotechnology company specializing in the development and manufacture of biosimilar medicines for patients worldwide, today announced the closing on June 17, 2026 of its previously announced underwritten public offering (the “Offering”) of 26,066,667 of its ordinary shares at an offering price of $3.75 per share, which includes 3,400,000 ordinary shares issued pursuant to the exercise in full by the underwriters of their option to purchase additional ordinary shares in the Offering. All ordinary shares sold in the Offering were offered by Alvotech.

GlobeNewsWire·Jun 18, 2026
Alvotech Announces Proposed $125 Million Public Offering and Concurrent Private Placement of Ordinary Shares

REYKJAVIK, Iceland, June 18, 2026 (GLOBE NEWSWIRE) -- Alvotech (NASDAQ: ALVO; ALVO-SDB) (“Alvotech” or the “Company”), a global biotechnology company specializing in the development and manufacture of biosimilar medicines for patients worldwide, today announced that it has commenced an underwritten public offering of its ordinary shares (the “Offering”). In addition, Alvotech expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the ordinary shares sold in the public offering at the public offering price, less underwriting discounts and commissions.

GlobeNewsWire·Jun 16, 2026
Alvotech Announces Pricing of $152 Million Public Offering of Ordinary Shares and Concurrent Private Placement

REYKJAVIK,  ICELAND (June 16, 2026) — Alvotech (NASDAQ: ALVO; ALVO-SDB) (“Alvotech” or the “Company”), a global biotechnology company specializing in the development and manufacture of biosimilar medicines for patients worldwide, today announced the pricing of its previously announced underwritten public offering (the “Offering”) of 22,666,667 of its ordinary shares at an offering price of $3.75 per share. All ordinary shares to be sold in the Offering will be offered by Alvotech.

Peers Comparison

Key metrics vs top competitors for Alvotech (ALVO)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
ALVO logoALVOAlvotechCurrent
$3.46$1.16B34.6019.74%4.76%——
AMGN logoAMGNAmgen Inc.
$366.44$197.76B25.759.92%20.95%89.41%—
TEVA logoTEVATeva Pharmaceutical Industries Limited
$33.44$38.94B27.874.31%9.02%20.69%—
VTRS logoVTRSViatris Inc.
$16.80$19.56B-5.60-2.98%-2.04%-1.97%—
ABBV logoABBVAbbVie Inc.
$254.76$450.11B107.498.57%5.79%67.46%—
JNJ logoJNJJohnson & Johnson
$259.33$624.26B23.516.05%21.83%26.26%—

Compare ALVO vs Peers

Alvotech (ALVO) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs AMGN

Most directly comparable listed peer for ALVO.

Scale Benchmark

vs JNJ

Larger-name benchmark to compare ALVO against a more recognizable public peer.

Peer Set

Compare Top 5

vs AMGN, TEVA, VTRS, ABBV

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ALVO Frequently Asked Questions

Alvotech (ALVO) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Alvotech's revenue?

Alvotech (ALVO) reported $559.4M in revenue for fiscal year 2025. This represents a 740% increase from $66.6M in 2020.

How fast is Alvotech growing?

Alvotech (ALVO) grew revenue by 19.7% over the past year. This is strong growth.

Is ALVO profitable?

Alvotech (ALVO) reported a net loss of $80.7M for fiscal year 2025.

Dividend & Returns
What is Alvotech's free cash flow?

Alvotech (ALVO) had negative free cash flow of $210.5M in fiscal year 2025, likely due to heavy capital investments.

What if you invested $1,000 in ALVO back in 2020?

Total return calculator · dividends reinvested · 6+ years of data

See returns →