ALT HealthcareBeta data

Altimmune, Inc.

$2.04+0.99%

Price as of close on Nov 3, 2026 · Financials updated Oct 6, 2026

Basics

Sector: Healthcare
Industry: Biotechnology
Country: United States
Market cap: 396.8M USD
Enterprise value: 106.6M USD
Full-time employees: 57

Overall health

Strength: lower risk than most peers: more short-term liquidity and less debt relative to equitylower risk: more liquidity and less debt vs equity
Drawback: less profitable than most peersless profitable than peers
Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Not enough data: growth

Would rank #874 of 1,157 fully scored healthcare companies (bottom 25%)

Partial overall score — 3/4 categories available.

See how it ranks against its peers

Worth knowing

Shareholders being diluted. Shares outstanding up 125% from December 2022 to December 2025.
Altimmune had 125% more shares at December 2025 than at December 2022, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.Altimmune had 125% more shares at December 2025 than at December 2022, mostly from issuing stock. Each existing share now owns a smaller slice of the business.
Stock-based pay is a large cost. Stock pay was 39210% of revenue in 2025.
Altimmune paid employees $16M in stock in 2025, 39210% of its $0M revenue. It doesn't use cash, so it flatters cash flow, but it is a real cost to shareholders through dilution.
Valuation signals disagree. Cheaper than 50% of peers on free cash flow, but only 0% on earnings.
Relative to its free cash flow, Altimmune looks cheaper than 50% of peers; relative to its earnings, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.
Growing fast, still losing money. Revenue grew faster than 95% of peers, at an operating loss, from a small base ($41K of revenue over 12 months).
Revenue grew faster than 95% of peers, but the business runs at an operating loss (margin -244451%).

StockQuotient Score

37/ 100

Oct 5 37 → Nov 4 37

Fundamentals: Yahoo Finance, not primary filings

Valuation

Is the price right?

8/100

Weak

3/3 inputs reported · High confidence

Since last quarter: ▼ Weaker

Share count up 86.6% (existing holders diluted)

Valuation also moves with the share price every day.

Why

Weaker than most peers on:

▼ Earnings yield
▼ EBITDA yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield-37.3%

Yahoo Finance · trailing 12 monthsNegative (a loss or cash outflow), so it counts as zero whatever the share price30% base weight · Z-score -1.00Sector median: 0.0148 · MAD: 0.0148

EBITDA yield-92.6%

Yahoo Finance · trailing 12 monthsNegative (a loss or cash outflow), so it counts as zero whatever the share price50% base weight · Z-score -1.00Sector median: 0.0401 · MAD: 0.0401

Free cash flow yield-19.3%

Yahoo Finance · trailing 12 months · operating cash flow − capital spendingNegative (a loss or cash outflow), so it counts as zero whatever the share price20% base weight · Z-score 0.00Sector median: 0.0000 · MAD: 0.0000

Other data (not scored)

Book yield119.5%

Yahoo FinanceReported valueInformational · 0% composite weightSector median: 0.3716 · MAD: 0.2313

Growth

Is it growing?

Insufficient data

Insufficient data: 1 of 3 inputs reported (at least 2 needed). We leave it blank rather than fill the gap with a made-up middle value.

Profitability

Does it earn well?

5/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ Operating margin
▼ ROA
▼ ROIC

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin-244451.2%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score -71.87Sector median: 0.0706 · MAD: 0.1217

Return on assets-17.4%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -3.55Sector median: 0.0166 · MAD: 0.0537

Return on invested capital-17.8%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -2.24Sector median: 0.0471 · MAD: 0.1004

Other data (not scored)

Gross margin0.0%

Yahoo Finance · trailing 12 monthsReported valueInformational · 0% composite weightSector median: 0.4697 · MAD: 0.2310

Return on equity-28.9%

Yahoo Finance · trailing 12 monthsReported valueInformational · 0% composite weightSector median: 0.0330 · MAD: 0.1225

Risk

Debt, liquidity, price swings

Lower

Lower relative risk

2/3 inputs reported · Partial data

Since last quarter: Changed: worth a look

Debt up 141%, still less than its cash

Why

Stronger than most peers on:

▲ Current ratio
▲ Debt / equity

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

BetaUnavailable

Missing · left out of the score · no sector data, so not countedNot counted · remaining weights rescaledSector median: 0.6250 · MAD: 0.3380

Current ratio26.78×

Yahoo FinanceOutlier capped at sector 5th/95th percentile33% base weight · Z-score 11.07Sector median: 2.5860 · MAD: 1.3850

Debt / equity0.08×

Yahoo FinanceReported value33% base weight · Z-score 0.71Sector median: 0.2215 · MAD: 0.2039

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Altimmune

Is Altimmune getting weaker?: Its latest SEC filing (Aug 12, 2026) got weaker in some ways: share count up 86.6%; debt up 141%, still less than its cash. Its overall score is unchanged at 37/100 since Oct 28, 2026.
How is Altimmune valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 8/100 against 1,393 healthcare peers. Earnings yield -37.3% vs a peer median of 1.5% (weaker than 100% of peers).Earnings yield -37.3% vs peers 1.5% (weaker than 100% of peers).
Is Altimmune growing?: Insufficient data: 1 of 3 inputs reported (at least 2 needed).
How profitable is Altimmune?: Less profitable than most of its peers. Profitability scores 5/100 against 1,393 healthcare peers. Operating margin -244451.2% vs a peer median of 7.1% (weaker than 100% of peers).Operating margin -244451.2% vs peers 7.1% (weaker than 100% of peers).
How risky is Altimmune?: Lower risk relative to 1,393 healthcare peers, judged on debt, liquidity and share-price swings. Current ratio 26.78× vs a peer median of 2.59× (stronger than 95% of peers).Current ratio 26.78× vs peers 2.59× (stronger than 95% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Dec 31, 2025 · filed Aug 12, 2026 · compared with the quarter ended Sep 30, 2025

Got weaker

Share count up 86.6% (existing holders diluted)
Debt up 141%, still less than its cash

Worth watching: Altimmune is in the bottom fifth of its sector on profitability. From 2021 to 2025, 63% of companies in that position posted a loss over the following year, against 4% for the top fifth.

	Previous quarter	Latest quarter	Change
Revenue (12 months)	20,000 USD	41,000 USD	+105.0%
Net income (12 months)	−83.9M USD	−91.8M USD	+9.3%
Operating margin	-452310.0%	-244451.2%	+207858.8 pts
Debt	14.4M USD	34.7M USD	+140.5%
Cash	61.2M USD	63.0M USD	+2.9%
Shares outstanding	104.3M	194.5M	+86.6%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Industry: Biotechnology · 132 companies

Valuations in Biotechnology are within their usual range since 2016.

48% of months since 2016 were valued lower than now.
22% of companies are in the most expensive fifth of their own price-to-sales history.
Median price-to-sales is +530% vs the whole market, against a usual +637%.

2016Shaded: most expensive fifth of its range2026

Earnings-based measures are left out for now because many companies in Biotechnology are losing money.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Operating margin	-2197.4%	129029.4%	-22518.5%	-515860.0%	-230461.0%	▲ >999 pts
Net margin	-2201.4%	124577.9%	-20762.2%	-475295.0%	-214861.0%	▲ >999 pts
Return on assets (ROA)	-44.4%	-40.9%	-42.0%	-68.2%	-31.5%	▲ 37 pts
Return on equity (ROE)	-48.8%	-45.7%	-45.6%	-77.0%	-39.2%	▲ 38 pts
Free cash flow margin	-2048.7%	92223.5%	-17806.8%	—	-164746.3%	—
Current ratio	11.17×	11.31×	17.26×	13.11×	18.55×	▲ 41%
Debt to equity	0.01×	0.02×	—	—	0.15×	—
Interest coverage	-19382.80×	-10967.50×	-2740.83×	-11463.56×	-57.76×	▲ 99%

ALT price history

Price history is added with the daily price update and will appear after the next one.

Similar companies

Sector leaderboards

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Bringing the fundamentals into focus…

Overall health

Strength: lower risk than most peers: more short-term liquidity and less debt relative to equitylower risk: more liquidity and less debt vs equity

Drawback: less profitable than most peersless profitable than peers

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Not enough data: growth

Would rank #874 of 1,157 fully scored healthcare companies (bottom 25%)

Partial overall score — 3/4 categories available.

See how it ranks against its peers

Worth knowing

Shareholders being diluted. Shares outstanding up 125% from December 2022 to December 2025.

Altimmune had 125% more shares at December 2025 than at December 2022, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.Altimmune had 125% more shares at December 2025 than at December 2022, mostly from issuing stock. Each existing share now owns a smaller slice of the business.

Stock-based pay is a large cost. Stock pay was 39210% of revenue in 2025.

Altimmune paid employees $16M in stock in 2025, 39210% of its $0M revenue. It doesn't use cash, so it flatters cash flow, but it is a real cost to shareholders through dilution.

Valuation signals disagree. Cheaper than 50% of peers on free cash flow, but only 0% on earnings.

Relative to its free cash flow, Altimmune looks cheaper than 50% of peers; relative to its earnings, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.

Growing fast, still losing money. Revenue grew faster than 95% of peers, at an operating loss, from a small base ($41K of revenue over 12 months).

Revenue grew faster than 95% of peers, but the business runs at an operating loss (margin -244451%).

Questions investors ask about Altimmune

Is Altimmune getting weaker?

Its latest SEC filing (Aug 12, 2026) got weaker in some ways: share count up 86.6%; debt up 141%, still less than its cash. Its overall score is unchanged at 37/100 since Oct 28, 2026.

How is Altimmune valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 8/100 against 1,393 healthcare peers. Earnings yield -37.3% vs a peer median of 1.5% (weaker than 100% of peers).Earnings yield -37.3% vs peers 1.5% (weaker than 100% of peers).

Is Altimmune growing?

Insufficient data: 1 of 3 inputs reported (at least 2 needed).

How profitable is Altimmune?

Less profitable than most of its peers. Profitability scores 5/100 against 1,393 healthcare peers. Operating margin -244451.2% vs a peer median of 7.1% (weaker than 100% of peers).Operating margin -244451.2% vs peers 7.1% (weaker than 100% of peers).

How risky is Altimmune?

Lower risk relative to 1,393 healthcare peers, judged on debt, liquidity and share-price swings. Current ratio 26.78× vs a peer median of 2.59× (stronger than 95% of peers).Current ratio 26.78× vs peers 2.59× (stronger than 95% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

20,000 USD

41,000 USD

+105.0%

Net income (12 months)

−83.9M USD

−91.8M USD

+9.3%

Operating margin

-452310.0%

-244451.2%

+207858.8 pts

Debt

14.4M USD

34.7M USD

+140.5%

Cash

61.2M USD

63.0M USD

+2.9%

Shares outstanding

104.3M

194.5M

+86.6%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Operating margin

-2197.4%

129029.4%

-22518.5%

-515860.0%

-230461.0%

▲ >999 pts

Net margin

-2201.4%

124577.9%

-20762.2%

-475295.0%

-214861.0%

▲ >999 pts

Return on assets (ROA)

-44.4%

-40.9%

-42.0%

-68.2%

-31.5%

▲ 37 pts

Return on equity (ROE)

-48.8%

-45.7%

-45.6%

-77.0%

-39.2%

▲ 38 pts

Free cash flow margin

-2048.7%

92223.5%

-17806.8%

—

-164746.3%

—

Current ratio

11.17×

11.31×

17.26×

13.11×

18.55×

▲ 41%

Debt to equity

0.01×

0.02×

—

0.15×

—

Interest coverage

-19382.80×

-10967.50×

-2740.83×

-11463.56×

-57.76×

▲ 99%