
Alight remains a 'Sell' despite a recent Q3 earnings beat and a 15% rally, as revenue continues to decline sharply. ALIT trades at 10.4x EV/FY26 adjusted EBITDA, but quality concerns outweigh valuation arguments, with gross margins below 30%. Retention issues persist, and management guides to a -6% y/y revenue decline for FY26, undermining any rebound thesis.










