Astera Labs vs MACOM Technology Solutions
MACOM Technology Solutions reported revenue of $967 million in fiscal 2025, about the same as Astera Labs' $852 million in fiscal 2025. Astera Labs' revenue grew 115.1% in its latest year, and MACOM Technology Solutions' grew 32.6%. Astera Labs had an operating margin of 20.3%, against 13.4% at MACOM Technology Solutions. Free cash flow was $282 million at Astera Labs and $193 million at MACOM Technology Solutions. Their fiscal years end in different months (December 31 and October 3), so the periods don't line up exactly.
Side by side
| Astera Labs | MACOM Technology Solutions | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Oct 3, 2025 |
| Revenue | $852M | $967M |
| Revenue growth | 115.1% | 32.6% |
| Revenue growth a year, last 5 years | — | 12.8% |
| Gross margin | 75.7% | 54.7% |
| Operating margin | 20.3% | 13.4% |
| Net margin | 25.7% | −5.6% |
| Free cash flow | $282M | $193M |
| Free cash flow margin | 33.0% | 19.9% |
| Return on capital | — | 9.8% |
| Net debt to EBITDA | — | −1.3x |
| Dividends and buybacks | $0M | $43M |
| Change in diluted share count | 36.8% | 0.6% |
| Last close | $259.51 | $243.58 |
| P/E at the last close | 128.5× | 77.6× |
| Insider trades, last 12 months | sold $702.2 million | sold $349.0 million |
| Piotroski F-score | — | 5 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
Astera LabsMACOM Technology Solutions
Operating margin
Percent of revenue
Astera LabsMACOM Technology Solutions
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
Astera LabsMACOM Technology Solutions
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Astera Labs and MACOM Technology Solutions pages.