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Avantor (AVTR) Financials

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$13.78 -0.08 (-0.56%)
Closing price 03:59 PM Eastern
Extended Trading
$13.84 +0.06 (+0.41%)
As of 07:34 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for Avantor

Annual Income Statements for Avantor

This table shows Avantor's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -415 -356 -335 52 508 662 321 712 -530
Consolidated Net Income / (Loss)		 -145 -87 38 117 573 687 321 712 -530
Net Income / (Loss) Continuing Operations		 -145 -87 38 117 573 687 321 712 -530
Total Pre-Tax Income 		-460 -114 41 62 753 851 411 854 -441
Total Operating Income		 -210 414 552 707 972 1,130 696 1,085 -246
Total Gross Profit		 433 1,820 1,921 2,081 2,503 2,603 2,364 2,279 2,139
Total Revenue		 1,247 5,864 6,040 6,394 7,386 7,512 6,967 6,784 6,552
Operating Revenue		 1,247 5,864 6,040 6,394 7,386 7,512 6,967 6,784 6,552
Total Cost of Revenue		 815 4,045 4,120 4,313 4,883 4,910 4,603 4,504 4,413
Operating Cost of Revenue		 815 4,045 4,120 4,313 4,883 4,910 4,603 4,504 4,413
Total Operating Expenses		 643 1,406 1,369 1,374 1,531 1,473 1,667 1,641 2,381
Selling, General & Admin Expense		 450 1,406 1,369 1,374 1,531 1,473 1,507 1,641 1,596
Impairment Charge		 - - - - 0.00 0.00 161 0.00 785
Total Other Income / (Expense), net		 -250 -527 -511 -645 -219 -279 -286 216 -200
Interest Expense		 257 524 514 654 230 278 292 230 174
Other Income / (Expense), net		 7.50 -3.50 2.50 9.90 11 -0.80 5.80 445 -26
Income Tax Expense		 -315 -27 2.80 -54 180 165 89 142 89
Basic Earnings per Share		 ($2.75) ($2.69) ($0.84) $0.09 $0.86 $1.02 $0.48 $1.05 ($0.78)
Weighted Average Basic Shares Outstanding		 151.10M 132.70M 401.20M 576.30M 590.50M 650.90M 675.60M 679.60M 680.60M
Diluted Earnings per Share		 ($2.75) ($2.69) ($0.84) $0.09 $0.85 $1.01 $0.47 $1.04 ($0.78)
Weighted Average Diluted Shares Outstanding		 151.10M 132.70M 401.20M 583.40M 599.60M 679.40M 678.40M 681.90M 680.60M
Weighted Average Basic & Diluted Shares Outstanding		 151.10M 132.70M 401.20M 609.97M - 674.44M 678.28M 680.90M 682.06M

Quarterly Income Statements for Avantor

This table shows Avantor's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 99 60 93 58 500 65 65 -712 52 43 38
Consolidated Net Income / (Loss)		 99 60 93 58 500 65 65 -712 52 43 38
Net Income / (Loss) Continuing Operations		 99 60 93 58 500 65 65 -712 52 43 38
Total Pre-Tax Income 		120 81 115 75 584 86 82 -690 81 56 81
Total Operating Income		 183 146 176 125 638 147 129 -649 126 100 122
Total Gross Profit		 570 571 582 564 563 535 554 527 524 501 537
Total Revenue		 1,723 1,680 1,703 1,714 1,687 1,581 1,683 1,624 1,664 1,581 1,692
Operating Revenue		 1,723 1,680 1,703 1,714 1,687 1,581 1,683 1,624 1,664 1,581 1,692
Total Cost of Revenue		 1,152 1,109 1,121 1,150 1,124 1,047 1,129 1,097 1,140 1,081 1,155
Operating Cost of Revenue		 1,152 1,109 1,121 1,150 1,124 1,047 1,129 1,097 1,140 1,081 1,155
Total Operating Expenses		 387 424 406 440 371 388 425 1,175 392 401 415
Selling, General & Admin Expense		 387 424 406 440 371 388 425 390 392 401 415
Total Other Income / (Expense), net		 -64 -66 -61 -50 393 -62 -47 -41 -51 -44 -41
Interest Expense		 66 67 63 51 49 42 43 44 44 44 40
Other Income / (Expense), net		 2.50 1.10 1.60 0.70 442 -20 -3.70 3.70 -6.30 -0.50 -0.60
Income Tax Expense		 21 20 22 17 84 21 17 22 28 12 43
Basic Earnings per Share		 $0.15 $0.09 $0.14 $0.08 $0.74 $0.09 $0.09 ($1.04) $0.08 $0.06 $0.06
Weighted Average Basic Shares Outstanding		 675.60M 678.10M 679.40M 680.30M 679.60M 681.10M 681.50M 681.70M 680.60M 675.70M 676.20M
Diluted Earnings per Share		 $0.14 $0.09 $0.14 $0.08 $0.73 $0.09 $0.09 ($1.04) $0.08 $0.06 $0.06
Weighted Average Diluted Shares Outstanding		 678.40M 681.40M 682.60M 683M 681.90M 682.40M 681.80M 681.70M 680.60M 676.80M 677.20M
Weighted Average Basic & Diluted Shares Outstanding		 678.28M 679.27M 679.84M 680.61M 680.90M 681.43M 681.74M 681.81M 682.06M 682.76M 676.36M

Annual Cash Flow Statements for Avantor

This table details how cash moves in and out of Avantor's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 123 7.00 1.60 100 38 70 -109 -23 104
Net Cash From Operating Activities		 -168 201 354 930 954 844 870 841 624
Net Cash From Continuing Operating Activities		 -168 201 354 930 954 844 870 841 624
Net Income / (Loss) Continuing Operations		 -145 -87 38 117 573 687 321 712 -530
Consolidated Net Income / (Loss)		 -145 -87 38 117 573 687 321 712 -530
Depreciation Expense		 99 405 399 395 379 406 402 406 410
Amortization Expense		 12 41 34 23 16 16 13 11 8.50
Non-Cash Adjustments To Reconcile Net Income		 225 34 197 462 118 126 289 -288 927
Changes in Operating Assets and Liabilities, net		 -358 -193 -313 -68 -132 -390 -156 0.80 -191
Net Cash From Investing Activities		 -6,676 -23 -42 -59 -4,122 -110 -144 439 -131
Net Cash From Continuing Investing Activities		 -6,676 -23 -42 -59 -4,122 -110 -144 439 -131
Purchase of Property, Plant & Equipment		 -25 -38 -52 -62 -111 -133 -146 -149 -129
Divestitures		 - - - - - 0.00 0.00 585 0.00
Other Investing Activities, net		 9.90 15 9.50 2.50 3.50 1.50 2.70 2.50 -1.70
Net Cash From Financing Activities		 6,965 -170 -308 -783 3,219 -649 -844 -1,281 -409
Net Cash From Continuing Financing Activities		 6,965 -170 -308 -783 3,219 -649 -844 -1,281 -409
Repayment of Debt		 -3,609 -186 -1,879 -4,677 -575 -948 -848 -1,342 -1,441
Repurchase of Common Equity		 - - - - - - 0.00 0.00 -75
Issuance of Debt		 9,250 36 1.30 3,939 2,835 327 0.00 0.00 1,108
Other Financing Activities, net		 -1,725 -21 -3.90 20 83 17 4.60 61 -0.50
Effect of Exchange Rate Changes		 1.00 - -2.50 12 -13 -16 8.20 -22 20

Quarterly Cash Flow Statements for Avantor

This table details how cash moves in and out of Avantor's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Change in Cash & Equivalents		 27 -29 38 14 -46 54 134 -198 114 -86 28
Net Cash From Operating Activities		 252 142 281 245 173 109 154 207 153 59 178
Net Cash From Continuing Operating Activities		 252 142 281 245 173 109 154 207 153 59 178
Net Income / (Loss) Continuing Operations		 99 60 93 58 500 65 65 -712 52 43 38
Consolidated Net Income / (Loss)		 99 60 93 58 500 65 65 -712 52 43 38
Depreciation Expense		 101 100 103 102 101 100 103 105 103 105 106
Amortization Expense		 3.10 3.00 2.80 2.80 2.60 2.20 2.30 2.10 1.90 1.80 1.70
Non-Cash Adjustments To Reconcile Net Income		 31 49 28 41 -406 46 33 805 43 19 39
Changes in Operating Assets and Liabilities, net		 19 -70 55 41 -25 -103 -48 8.10 -48 -111 -5.80
Net Cash From Investing Activities		 -50 -34 -45 -41 559 -29 -29 -33 -40 -33 -37
Net Cash From Continuing Investing Activities		 -50 -34 -45 -41 559 -29 -29 -33 -40 -33 -37
Purchase of Property, Plant & Equipment		 -51 -35 -46 -41 -28 -28 -30 -36 -36 -34 -38
Other Investing Activities, net		 0.60 0.50 0.90 0.30 0.80 -0.90 1.00 2.40 -4.20 0.80 0.30
Net Cash From Financing Activities		 -184 -130 -197 -199 -755 -34 -6.90 -370 0.70 -107 -112
Net Cash From Continuing Financing Activities		 -184 -130 -197 -199 -755 -34 -6.90 -370 0.70 -107 -112
Repayment of Debt		 -188 -210 -173 -210 -749 -31 -6.80 -439 -964 -105 -112
Other Financing Activities, net		 4.20 46 5.30 17 1.90 -2.30 - 2.30 -5.40 -1.70 -0.30
Effect of Exchange Rate Changes		 9.50 -5.70 -1.60 7.90 -22 7.00 15 -2.00 -0.10 -4.90 -1.00

Annual Balance Sheets for Avantor

This table presents Avantor's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 9,912 9,773 9,907 13,897 13,464 12,973 12,115 11,795
Total Current Assets		 1,900 2,022 2,231 2,477 2,658 2,385 2,147 2,451
Cash & Equivalents		 185 187 287 302 373 263 262 365
Accounts Receivable		 931 989 1,113 1,222 1,218 1,150 1,035 1,075
Inventories, net		 671 711 740 872 914 828 732 818
Other Current Assets		 113 135 91 81 153 144 119 193
Plant, Property, & Equipment, net		 599 557 550 706 727 738 708 767
Total Noncurrent Assets		 7,413 7,195 7,126 10,715 10,079 9,850 9,260 8,577
Goodwill		 2,785 2,769 2,860 5,341 5,653 5,717 5,539 4,987
Intangible Assets		 4,566 4,220 4,049 5,140 4,133 3,775 3,360 3,194
Other Noncurrent Operating Assets		 63 205 217 233 294 358 360 396
Total Liabilities & Shareholders' Equity		 9,912 9,773 9,907 13,897 13,464 12,973 12,115 11,795
Total Liabilities		 9,104 7,311 7,232 9,700 8,609 7,720 6,158 6,230
Total Current Liabilities		 1,096 1,075 1,243 1,451 1,659 1,480 2,008 1,379
Short-Term Debt		 142 94 26 45 364 260 821 31
Accounts Payable		 557 560 679 755 758 626 663 742
Current Employee Benefit Liabilities		 145 114 179 200 122 133 168 163
Other Current Liabilities		 175 232 314 401 364 411 307 396
Other Current Nonoperating Liabilities		 77 74 45 50 50 50 49 47
Total Noncurrent Liabilities		 8,008 6,237 5,990 8,249 6,950 6,240 4,150 4,851
Long-Term Debt		 6,782 5,023 4,868 6,978 5,923 5,277 3,235 3,916
Noncurrent Deferred & Payable Income Tax Liabilities		 908 785 724 913 731 613 557 557
Other Noncurrent Operating Liabilities		 318 428 398 358 295 350 358 378
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 -3,052 2,462 2,674 4,197 4,855 5,253 5,957 5,565
Total Preferred & Common Equity		 -3,052 2,462 2,674 4,197 4,855 5,253 5,957 5,565
Total Common Equity		 -3,052 2,462 2,674 4,197 4,855 5,253 5,957 5,565
Common Stock		 -2,747 1,748 1,738 2,753 3,785 3,830 3,938 3,985
Retained Earnings		 -238 -204 -89 484 1,170 1,492 2,203 1,673
Treasury Stock		 - - - - - - 0.00 -76
Accumulated Other Comprehensive Income / (Loss)		 -67 -86 22 -43 -100 -69 -184 -17

Quarterly Balance Sheets for Avantor

This table presents Avantor's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026 6/30/2026
Total Assets		 13,396 13,063 12,798 12,763 12,694 12,841 12,326 12,777 11,676 11,663 11,596
Total Current Assets		 2,627 2,499 2,385 2,321 2,329 2,505 2,282 2,515 2,257 2,404 2,462
Cash & Equivalents		 295 236 237 235 273 285 316 449 252 279 307
Accounts Receivable		 1,277 1,216 1,150 1,130 1,129 1,088 1,096 1,149 1,078 1,105 1,139
Inventories, net		 904 890 850 811 796 780 750 780 796 810 829
Other Current Assets		 152 156 147 146 132 136 120 136 132 210 188
Plant, Property, & Equipment, net		 737 698 698 740 754 723 736 759 762 766 772
Total Noncurrent Assets		 10,032 9,866 9,715 9,703 9,611 9,613 9,308 9,503 8,657 8,493 8,362
Goodwill		 5,683 5,694 5,638 5,672 5,660 5,671 5,609 5,762 4,985 4,952 4,935
Intangible Assets		 4,077 3,895 3,788 3,663 3,583 3,523 3,331 3,350 3,267 3,099 3,014
Other Noncurrent Operating Assets		 273 277 289 368 368 420 368 391 406 442 412
Total Liabilities & Shareholders' Equity		 13,396 13,063 12,798 12,763 12,694 12,841 12,326 12,777 11,676 11,663 11,596
Total Liabilities		 8,401 8,052 7,699 7,427 7,259 7,287 6,228 6,491 6,106 6,074 5,966
Total Current Liabilities		 1,670 1,550 1,488 1,442 1,465 1,630 2,034 2,576 1,517 1,367 1,382
Short-Term Debt		 325 314 336 299 258 230 828 1,254 220 37 37
Accounts Payable		 766 687 656 573 657 674 680 709 692 736 743
Current Employee Benefit Liabilities		 125 124 120 133 146 183 141 174 179 162 157
Other Current Liabilities		 415 376 337 396 353 402 347 389 391 402 398
Other Current Nonoperating Liabilities		 39 49 40 41 50 142 39 50 35 32 46
Total Noncurrent Liabilities		 6,732 6,502 6,211 5,985 5,794 5,658 4,194 3,915 4,589 4,707 4,584
Long-Term Debt		 5,736 5,570 5,291 5,024 4,857 4,691 3,279 2,988 3,638 3,779 3,661
Noncurrent Deferred & Payable Income Tax Liabilities		 696 663 649 601 575 547 550 536 549 550 540
Other Noncurrent Operating Liabilities		 300 269 271 361 362 419 365 391 403 377 383
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 4,995 5,011 5,099 5,336 5,435 5,553 6,098 6,286 5,570 5,589 5,630
Total Preferred & Common Equity		 4,995 5,011 5,099 5,336 5,435 5,553 6,098 6,286 5,570 5,589 5,630
Total Common Equity		 4,995 5,011 5,099 5,336 5,435 5,553 6,098 6,286 5,570 5,589 5,630
Common Stock		 3,792 3,799 3,818 3,881 3,898 3,925 3,948 3,964 3,973 3,992 4,007
Retained Earnings		 1,292 1,285 1,393 1,552 1,645 1,703 2,268 2,332 1,620 1,716 1,754
Treasury Stock		 - - - - - - - - - -76 -76
Accumulated Other Comprehensive Income / (Loss)		 -90 -72 -111 -97 -107 -74 -118 -10 -24 -44 -55

Annual Metrics And Ratios for Avantor

This table displays calculated financial ratios and metrics derived from Avantor's official financial filings.

Metric 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Growth Metrics		 - - - - - - - - -
Revenue Growth		 0.00% 370.12% 3.00% 5.85% 15.52% 1.71% -7.26% -2.64% -3.41%
EBITDA Growth		 0.00% 1,030.43% 15.27% 15.08% 21.38% 12.50% -27.93% 74.22% -92.46%
EBIT Growth		 0.00% 302.07% 35.20% 29.30% 37.13% 14.92% -37.83% 117.92% -117.78%
NOPAT Growth		 0.00% 296.53% 77.49% 157.49% -44.11% 23.31% -40.25% 65.93% -119.07%
Net Income Growth		 0.00% 40.19% 143.50% 208.47% 391.08% 19.89% -53.23% 121.58% -174.52%
EPS Growth		 0.00% 2.18% 68.77% 110.71% 844.44% 18.82% -53.47% 121.28% -175.00%
Operating Cash Flow Growth		 0.00% 219.70% 76.56% 162.66% 2.56% -11.54% 3.13% -3.36% -25.81%
Free Cash Flow Firm Growth		 0.00% 0.00% 109.16% -424.42% 133.92% 43.38% -25.65% 113.31% -74.21%
Invested Capital Growth		 0.00% 0.00% -2.07% 46.91% 0.00% -1.35% -2.25% -7.35% -6.18%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 4.36% 1.61% -1.48% -1.03% -0.53% -0.35%
EBITDA Q/Q Growth		 0.00% 0.00% 0.00% 4.94% 0.31% 2.44% -5.18% 84.93% -86.72%
EBIT Q/Q Growth		 0.00% 0.00% 0.00% 7.73% 0.19% 3.81% -7.92% 140.64% -139.53%
NOPAT Q/Q Growth		 0.00% 0.00% 0.00% 27.67% -7.36% 6.65% -8.96% 80.36% 50.96%
Net Income Q/Q Growth		 0.00% 0.00% 0.00% -14.01% 8.00% 7.47% -11.86% 129.81% -545.01%
EPS Q/Q Growth		 0.00% 0.00% 0.00% -88.00% 7.59% 8.60% -11.32% 131.11% -500.00%
Operating Cash Flow Q/Q Growth		 0.00% 0.00% 5.08% 30.81% -0.52% -10.16% 5.58% -8.52% -3.20%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 514.62% 175.43% 26.58% 83.69% -21.33%
Invested Capital Q/Q Growth		 0.00% 0.00% 0.00% 49.92% 32.27% 2.53% 0.46% -3.11% -0.20%
Profitability Metrics		 - - - - - - - - -
Gross Margin		 34.70% 31.03% 31.80% 32.54% 33.88% 34.65% 33.93% 33.60% 32.65%
EBITDA Margin		 -7.38% 14.60% 16.34% 17.76% 18.66% 20.64% 16.04% 28.70% 2.24%
Operating Margin		 -16.87% 7.05% 9.14% 11.05% 13.16% 15.04% 10.00% 15.99% -3.76%
EBIT Margin		 -16.27% 6.99% 9.18% 11.21% 13.31% 15.03% 10.08% 22.56% -4.15%
Profit (Net Income) Margin		 -11.65% -1.48% 0.63% 1.82% 7.75% 9.14% 4.61% 10.49% -8.09%
Tax Burden Percent		 31.57% 76.36% 93.10% 187.16% 76.04% 80.66% 78.22% 83.32% 120.15%
Interest Burden Percent		 226.81% -27.76% 7.32% 8.69% 76.62% 75.36% 58.46% 55.80% 162.24%
Effective Tax Rate		 0.00% 0.00% 6.90% -87.16% 23.96% 19.34% 21.78% 16.68% 0.00%
Return on Invested Capital (ROIC)		 0.00% 7.59% 6.81% 14.35% 6.74% 8.37% 5.09% 8.87% -1.81%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% -3.45% -1.24% -6.14% 4.28% 4.83% 1.13% 4.67% -11.40%
Return on Net Nonoperating Assets (RNNOA)		 0.00% -29.11% -4.50% -10.85% 6.90% 6.80% 1.26% 3.82% -7.39%
Return on Equity (ROE)		 0.00% -21.52% 2.31% 3.50% 13.64% 15.17% 6.35% 12.69% -9.20%
Cash Return on Invested Capital (CROIC)		 0.00% -192.41% 8.90% -23.64% 6.74% 9.73% 7.37% 16.50% 4.57%
Operating Return on Assets (OROA)		 0.00% 4.14% 5.63% 6.06% 7.07% 8.26% 5.31% 12.20% -2.28%
Return on Assets (ROA)		 0.00% -0.88% 0.38% 0.99% 4.12% 5.02% 2.43% 5.67% -4.44%
Return on Common Equity (ROCE)		 0.00% 81.32% -0.42% 3.50% 13.64% 15.17% 6.35% 12.69% -9.20%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 2.85% 1.54% 2.78% 13.64% 14.14% 6.11% 11.94% 0.00%
Net Operating Profit after Tax (NOPAT)		 -147 289 514 1,323 739 912 545 904 -172
NOPAT Margin		 -11.81% 4.94% 8.51% 20.69% 10.01% 12.13% 7.82% 13.32% -2.63%
Net Nonoperating Expense Percent (NNEP)		 0.00% 11.04% 8.05% 20.49% 2.46% 3.54% 3.96% 4.20% 9.58%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - 8.18% 5.05% 9.03% -1.81%
Cost of Revenue to Revenue		 65.30% 68.97% 68.20% 67.46% 66.12% 65.35% 66.07% 66.40% 67.35%
SG&A Expenses to Revenue		 36.05% 23.98% 22.66% 21.49% 20.72% 19.60% 21.62% 24.19% 24.35%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 51.56% 23.98% 22.66% 21.49% 20.72% 19.60% 23.93% 24.19% 36.33%
Earnings before Interest and Taxes (EBIT)		 -203 410 554 717 983 1,129 702 1,530 -272
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -92 856 987 1,136 1,378 1,551 1,118 1,947 147
Valuation Ratios		 - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 4.21 3.88 6.12 2.93 2.94 2.41 1.40
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 2.32 0.49 1.72 2.55 3.48 1.89 2.22 2.11 1.19
Price to Earnings (P/E)		 0.00 0.00 0.00 313.08 50.56 21.47 48.09 20.16 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.32% 1.98% 4.66% 2.08% 4.96% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 1.77 2.05 2.10 2.95 1.86 1.96 1.85 1.24
Enterprise Value to Revenue (EV/Rev)		 0.00 2.30 2.53 3.60 4.39 2.68 2.97 2.67 1.74
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 15.77 15.51 20.26 23.51 12.98 18.54 9.31 77.67
Enterprise Value to EBIT (EV/EBIT)		 0.00 32.92 27.61 32.09 32.97 17.83 29.50 11.85 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 46.63 29.79 17.39 43.83 22.09 38.03 20.06 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 67.32 43.24 24.74 33.98 23.87 23.81 21.57 18.27
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 22.79 0.00 43.83 18.99 26.28 10.79 26.28
Leverage & Solvency		 - - - - - - - - -
Debt to Equity		 0.00 8.57 2.08 1.67 1.67 1.29 1.05 0.68 0.71
Long-Term Debt to Equity		 0.00 8.40 2.04 1.66 1.66 1.22 1.00 0.54 0.70
Financial Leverage		 0.00 8.44 3.62 1.77 1.61 1.41 1.12 0.82 0.65
Leverage Ratio		 0.00 12.27 6.02 3.55 3.31 3.02 2.62 2.24 2.08
Compound Leverage Factor		 0.00 -3.41 0.44 0.31 2.54 2.28 1.53 1.25 3.37
Debt to Total Capital		 0.00% 89.56% 67.51% 62.59% 62.59% 56.43% 51.32% 40.51% 41.49%
Short-Term Debt to Total Capital		 0.00% 1.84% 1.23% 0.40% 0.40% 3.27% 2.41% 8.20% 0.32%
Long-Term Debt to Total Capital		 0.00% 87.71% 66.28% 62.19% 62.19% 53.16% 48.91% 32.31% 41.17%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 49.91% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 0.00% -39.47% 32.49% 37.41% 37.41% 43.57% 48.68% 59.49% 58.51%
Debt to EBITDA		 0.00 8.09 5.19 6.19 5.10 4.05 4.95 2.08 26.90
Net Debt to EBITDA		 0.00 7.87 5.00 5.92 4.88 3.81 4.72 1.95 24.41
Long-Term Debt to EBITDA		 0.00 7.92 5.09 6.15 5.06 3.82 4.72 1.66 26.69
Debt to NOPAT		 0.00 23.92 9.96 5.31 9.50 6.90 10.16 4.49 -22.90
Net Debt to NOPAT		 0.00 23.29 9.60 5.08 9.09 6.49 9.68 4.20 -20.78
Long-Term Debt to NOPAT		 0.00 23.43 9.78 5.28 9.44 6.50 9.69 3.58 -22.72
Altman Z-Score		 0.00 0.98 1.74 1.77 2.49 2.04 2.16 2.64 1.54
Noncontrolling Interest Sharing Ratio		 0.00% 477.87% 118.03% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - -
Current Ratio		 0.00 1.73 1.88 1.71 1.71 1.60 1.61 1.07 1.78
Quick Ratio		 0.00 1.02 1.09 1.05 1.05 0.96 0.95 0.65 1.04
Cash Flow Metrics		 - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -7,335 672 -2,179 739 1,060 788 1,681 434
Operating Cash Flow to CapEx		 -664.68% 531.83% 686.05% 1,509.42% 858.33% 632.38% 594.26% 565.05% 484.32%
Free Cash Flow to Firm to Interest Expense		 0.00 -14.00 1.31 -3.33 3.22 3.81 2.70 7.32 2.49
Operating Cash Flow to Interest Expense		 -0.65 0.38 0.69 1.42 4.15 3.03 2.98 3.66 3.58
Operating Cash Flow Less CapEx to Interest Expense		 -0.75 0.31 0.59 1.33 3.67 2.55 2.48 3.01 2.84
Efficiency Ratios		 - - - - - - - - -
Asset Turnover		 0.00 0.59 0.61 0.54 0.53 0.55 0.53 0.54 0.55
Accounts Receivable Turnover		 0.00 6.30 6.29 5.78 6.04 6.16 5.88 6.21 6.21
Inventory Turnover		 0.00 6.03 5.96 5.45 5.60 5.50 5.29 5.78 5.70
Fixed Asset Turnover		 0.00 9.80 10.45 10.13 10.47 10.49 9.51 9.39 8.88
Accounts Payable Turnover		 0.00 7.26 7.37 6.56 6.47 6.49 6.65 6.99 6.28
Days Sales Outstanding (DSO)		 0.00 57.96 58.01 63.11 60.39 59.29 62.04 58.78 58.75
Days Inventory Outstanding (DIO)		 0.00 60.56 61.24 66.99 65.18 66.37 69.05 63.19 64.09
Days Payable Outstanding (DPO)		 0.00 50.30 49.51 55.65 56.44 56.25 54.87 52.21 58.09
Cash Conversion Cycle (CCC)		 0.00 68.22 69.74 74.44 69.13 69.41 76.22 69.75 64.75
Capital & Investment Metrics		 - - - - - - - - -
Invested Capital		 0.00 7,624 7,466 10,968 10,968 10,820 10,577 9,799 9,193
Invested Capital Turnover		 0.00 1.54 0.80 0.69 0.67 0.69 0.65 0.67 0.69
Increase / (Decrease) in Invested Capital		 0.00 7,624 -158 3,502 0.00 -148 -243 -777 -606
Enterprise Value (EV)		 0.00 13,497 15,307 23,002 32,404 20,134 20,716 18,134 11,394
Market Capitalization		 2,898 2,898 10,377 16,280 25,682 14,219 15,442 14,341 7,814
Book Value per Share		 $0.00 ($23.00) $4.31 $7.26 $6.89 $7.20 $7.77 $8.75 $8.16
Tangible Book Value per Share		 $0.00 ($78.39) ($7.92) ($10.87) ($10.31) ($7.31) ($6.27) ($4.32) ($3.84)
Total Capital		 0.00 7,732 7,579 11,220 11,220 11,143 10,789 10,013 9,511
Total Debt		 0.00 6,925 5,117 7,023 7,023 6,288 5,537 4,056 3,946
Total Long-Term Debt		 0.00 6,782 5,023 6,978 6,978 5,923 5,277 3,235 3,916
Net Debt		 0.00 6,740 4,930 6,722 6,722 5,915 5,274 3,794 3,581
Capital Expenditures (CapEx)		 25 38 52 62 111 133 146 149 129
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 761 854 770 770 990 902 698 738
Debt-free Net Working Capital (DFNWC)		 0.00 946 1,041 1,072 1,072 1,363 1,165 960 1,103
Net Working Capital (NWC)		 0.00 803 947 1,026 1,026 999 905 139 1,072
Net Nonoperating Expense (NNE)		 -1.98 376 476 1,206 167 225 224 192 358
Net Nonoperating Obligations (NNO)		 0.00 6,817 5,004 6,771 6,771 5,965 5,324 3,843 3,628
Total Depreciation and Amortization (D&A)		 111 446 432 419 396 421 415 417 419
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 12.98% 14.14% 12.04% 10.42% 13.18% 12.94% 10.29% 11.26%
Debt-free Net Working Capital to Revenue		 0.00% 16.13% 17.23% 16.76% 14.51% 18.15% 16.71% 14.15% 16.84%
Net Working Capital to Revenue		 0.00% 13.70% 15.68% 16.05% 13.90% 13.30% 12.98% 2.05% 16.37%
Earnings Adjustments		 - - - - - - - - -
Adjusted Basic Earnings per Share		 ($2.75) ($2.69) ($0.84) $0.00 $0.00 $1.02 $0.48 $1.05 ($0.78)
Adjusted Weighted Average Basic Shares Outstanding		 151.10M 132.70M 572.91M 0.00 0.00 650.90M 675.60M 679.60M 680.60M
Adjusted Diluted Earnings per Share		 ($2.75) ($2.69) ($0.84) $0.00 $0.00 $1.01 $0.47 $1.04 ($0.78)
Adjusted Weighted Average Diluted Shares Outstanding		 151.10M 132.70M 572.91M 0.00 0.00 679.40M 678.40M 681.90M 680.60M
Adjusted Basic & Diluted Earnings per Share		 ($2.75) ($2.69) ($0.84) $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 151.10M 132.70M 401.20M 0.00 0.00 674.44M 678.28M 680.90M 682.06M
Normalized Net Operating Profit after Tax (NOPAT)		 -147 289 514 495 739 912 671 904 377
Normalized NOPAT Margin		 -11.81% 4.94% 8.51% 7.74% 10.01% 12.13% 9.62% 13.32% 5.76%
Pre Tax Income Margin		 -36.89% -1.94% 0.67% 0.97% 10.19% 11.33% 5.89% 12.59% -6.74%
Debt Service Ratios		 - - - - - - - - -
EBIT to Interest Expense		 -0.79 0.78 1.08 1.10 4.28 4.06 2.41 6.66 -1.56
NOPAT to Interest Expense		 -0.57 0.55 1.00 2.02 3.22 3.28 1.87 3.94 -0.99
EBIT Less CapEx to Interest Expense		 -0.89 0.71 0.98 1.00 3.79 3.58 1.91 6.01 -2.30
NOPAT Less CapEx to Interest Expense		 -0.67 0.48 0.90 1.93 2.73 2.80 1.37 3.29 -1.73
Payout Ratios		 - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 82.80% 55.40% 11.28% 4.72% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 82.80% 55.40% 11.28% 4.72% 0.00% 0.00% -14.16%

Quarterly Metrics And Ratios for Avantor

This table displays calculated financial ratios and metrics derived from Avantor's official financial filings.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
DEI Shares Outstanding		 - - - - - - - - - 682,055,932.00 682,755,402.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - 682,055,932.00 682,755,402.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - 0.06 0.06
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -4.02% -5.65% -2.36% -0.34% -2.10% -5.86% -1.14% -5.28% -1.36% 0.00% 0.53%
EBITDA Growth		 -17.40% -25.66% 57.46% -26.15% 308.84% -8.08% -18.64% -333.62% -80.96% -10.44% -0.70%
EBIT Growth		 -24.53% -36.41% 140.71% -40.59% 481.32% -13.23% -29.48% -614.84% -88.88% -22.60% -3.12%
NOPAT Growth		 -26.02% -39.19% 183.94% -42.09% 261.75% 1.19% -28.43% -569.81% -85.00% -30.03% -43.97%
Net Income Growth		 -30.49% -50.29% 1,372.60% -46.68% 408.02% 6.79% -30.36% -1,331.49% -89.53% -32.87% -41.11%
EPS Growth		 -30.00% -50.00% 1,500.00% -50.00% 421.43% 0.00% -35.71% -1,400.00% -89.04% -33.33% -33.33%
Operating Cash Flow Growth		 22.37% -35.49% 67.12% 6.11% -31.12% -22.81% -45.07% -15.28% -11.89% -46.29% 15.41%
Free Cash Flow Firm Growth		 11.87% 25.60% 223.90% 167.10% 235.59% 45.47% -42.66% -12.18% -48.03% 31.09% 272.54%
Invested Capital Growth		 -2.25% -3.11% -3.56% -3.93% -7.35% -5.13% -1.92% -8.93% -6.18% -7.77% -10.48%
Revenue Q/Q Growth		 0.15% -2.50% 1.37% 0.68% -1.62% -6.24% 6.45% -3.54% 2.45% -4.94% 7.01%
EBITDA Q/Q Growth		 -7.24% -13.64% 13.12% -18.49% 413.49% -80.58% 0.13% -334.03% 141.84% -8.66% 11.03%
EBIT Q/Q Growth		 -11.90% -20.67% 20.35% -29.37% 762.01% -88.16% -2.19% -615.67% 118.62% -17.57% 22.42%
NOPAT Q/Q Growth		 -9.49% -27.44% 29.99% -32.17% 465.40% -79.70% -8.06% -545.26% 118.05% -5.30% -26.38%
Net Income Q/Q Growth		 -9.13% -38.68% 53.81% -37.78% 765.74% -87.11% 0.31% -1,200.15% 107.36% -17.37% -12.01%
EPS Q/Q Growth		 -12.50% -35.71% 55.56% -42.86% 812.50% -87.67% 0.00% -1,255.56% 107.69% -25.00% 0.00%
Operating Cash Flow Q/Q Growth		 9.06% -43.72% 98.52% -12.91% -29.21% -36.93% 41.26% 34.33% -26.37% -61.56% 203.58%
Free Cash Flow Firm Q/Q Growth		 106.29% 12.84% 17.65% -2.47% 159.19% -51.09% -53.62% 49.36% 53.38% 23.38% 31.80%
Invested Capital Q/Q Growth		 0.46% -1.05% -1.32% -2.06% -3.11% 1.32% 2.02% -9.06% -0.20% -0.39% -0.98%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 33.11% 33.96% 34.15% 32.92% 33.37% 33.82% 32.92% 32.42% 31.49% 31.66% 31.73%
EBITDA Margin		 16.80% 14.88% 16.61% 13.44% 70.18% 14.53% 13.67% -33.16% 13.54% 13.01% 13.50%
Operating Margin		 10.64% 8.71% 10.32% 7.27% 37.83% 9.32% 7.65% -39.96% 7.60% 6.29% 7.20%
EBIT Margin		 10.78% 8.77% 10.42% 7.31% 64.04% 8.09% 7.43% -39.73% 7.22% 6.26% 7.16%
Profit (Net Income) Margin		 5.72% 3.60% 5.46% 3.37% 29.67% 4.08% 3.84% -43.84% 3.15% 2.74% 2.25%
Tax Burden Percent		 82.43% 74.94% 81.06% 77.58% 85.66% 75.26% 79.19% 103.23% 64.85% 78.02% 46.92%
Interest Burden Percent		 64.32% 54.68% 64.60% 59.46% 54.09% 67.01% 65.31% 106.88% 67.28% 56.06% 67.00%
Effective Tax Rate		 17.57% 25.06% 18.94% 22.42% 14.34% 24.74% 20.81% 0.00% 35.15% 21.98% 53.08%
Return on Invested Capital (ROIC)		 5.71% 4.21% 5.43% 3.73% 21.58% 4.60% 3.95% -19.03% 3.40% 3.37% 2.31%
ROIC Less NNEP Spread (ROIC-NNEP)		 4.78% 3.31% 4.49% 2.95% 20.57% 3.56% 3.09% -25.31% 2.61% 2.44% 1.79%
Return on Net Nonoperating Assets (RNNOA)		 5.34% 3.51% 4.56% 2.76% 16.82% 2.79% 2.31% -18.67% 1.69% 1.55% 1.09%
Return on Equity (ROE)		 11.05% 7.72% 9.99% 6.49% 38.40% 7.39% 6.26% -37.70% 5.09% 4.92% 3.40%
Cash Return on Invested Capital (CROIC)		 7.37% 7.61% 9.06% 8.87% 16.50% 14.13% 10.39% 5.71% 4.57% 5.92% 8.86%
Operating Return on Assets (OROA)		 5.68% 4.61% 5.52% 3.89% 34.63% 4.31% 3.89% -21.31% 3.96% 3.42% 3.86%
Return on Assets (ROA)		 3.01% 1.89% 2.89% 1.79% 16.05% 2.17% 2.01% -23.51% 1.73% 1.50% 1.21%
Return on Common Equity (ROCE)		 11.05% 7.72% 9.99% 6.49% 38.40% 7.39% 6.26% -37.70% 5.09% 4.92% 3.40%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 4.87% 6.63% 5.58% 0.00% 11.73% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 151 110 143 97 547 111 102 -454 82 78 57
NOPAT Margin		 8.77% 6.53% 8.37% 5.64% 32.41% 7.02% 6.06% -27.97% 4.93% 4.91% 3.38%
Net Nonoperating Expense Percent (NNEP)		 0.93% 0.90% 0.94% 0.78% 1.01% 1.04% 0.85% 6.28% 0.79% 0.93% 0.52%
Return On Investment Capital (ROIC_SIMPLE)		 1.40% - - - 5.46% 1.09% 0.97% -4.82% 0.86% 0.83% 0.61%
Cost of Revenue to Revenue		 66.89% 66.04% 65.85% 67.08% 66.63% 66.18% 67.08% 67.58% 68.51% 68.34% 68.27%
SG&A Expenses to Revenue		 22.47% 25.25% 23.83% 25.65% 22.02% 24.50% 25.26% 24.04% 23.59% 25.37% 24.53%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 22.47% 25.25% 23.83% 25.65% 22.02% 24.50% 25.26% 72.38% 23.59% 25.37% 24.53%
Earnings before Interest and Taxes (EBIT)		 186 147 177 125 1,080 128 125 -645 120 99 121
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 290 250 283 231 1,184 230 230 -539 225 206 229
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 2.94 3.24 2.65 3.17 2.41 1.81 1.46 1.53 1.40 0.96 1.20
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 2.22 2.52 2.11 2.58 2.11 1.65 1.38 1.29 1.19 0.82 1.03
Price to Earnings (P/E)		 48.09 66.52 39.98 56.81 20.16 15.42 13.34 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 2.08% 1.50% 2.50% 1.76% 4.96% 6.48% 7.49% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 1.96 2.14 1.86 2.20 1.85 1.49 1.28 1.32 1.24 0.97 1.12
Enterprise Value to Revenue (EV/Rev)		 2.97 3.26 2.82 3.26 2.67 2.22 1.95 1.84 1.74 1.36 1.55
Enterprise Value to EBITDA (EV/EBITDA)		 18.54 21.71 16.96 21.11 9.31 7.70 6.92 10.96 77.67 72.41 83.82
Enterprise Value to EBIT (EV/EBIT)		 29.50 36.23 26.67 34.95 11.85 9.82 8.89 17.61 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 38.03 47.21 33.68 44.34 20.06 16.39 15.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 23.81 28.26 21.26 24.18 21.57 18.34 19.02 18.80 18.27 15.50 17.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 26.28 27.64 20.20 24.28 10.79 10.29 12.20 21.98 26.28 15.72 11.93
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.05 1.00 0.94 0.89 0.68 0.67 0.67 0.69 0.71 0.68 0.66
Long-Term Debt to Equity		 1.00 0.94 0.89 0.84 0.54 0.54 0.48 0.65 0.70 0.68 0.65
Financial Leverage		 1.12 1.06 1.01 0.94 0.82 0.78 0.75 0.74 0.65 0.63 0.61
Leverage Ratio		 2.62 2.53 2.47 2.41 2.24 2.19 2.17 2.20 2.08 2.05 2.05
Compound Leverage Factor		 1.68 1.38 1.59 1.43 1.21 1.47 1.42 2.36 1.40 1.15 1.37
Debt to Total Capital		 51.32% 49.94% 48.48% 46.98% 40.51% 40.24% 40.30% 40.92% 41.49% 40.58% 39.64%
Short-Term Debt to Total Capital		 2.41% 2.81% 2.45% 2.19% 8.20% 8.11% 11.91% 2.33% 0.32% 0.39% 0.40%
Long-Term Debt to Total Capital		 48.91% 47.13% 46.03% 44.79% 32.31% 32.13% 28.38% 38.59% 41.17% 40.18% 39.25%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 48.68% 50.06% 51.52% 53.02% 59.49% 59.76% 59.70% 59.08% 58.51% 59.42% 60.36%
Debt to EBITDA		 4.95 5.16 4.51 4.67 2.08 2.13 2.26 3.49 26.90 31.10 30.54
Net Debt to EBITDA		 4.72 4.93 4.27 4.40 1.95 1.97 2.02 3.26 24.41 28.83 28.00
Long-Term Debt to EBITDA		 4.72 4.87 4.28 4.46 1.66 1.70 1.59 3.29 26.69 30.80 30.23
Debt to NOPAT		 10.16 11.23 8.95 9.82 4.49 4.54 4.91 -10.98 -22.90 -18.54 -17.54
Net Debt to NOPAT		 9.68 10.73 8.48 9.25 4.20 4.19 4.39 -10.26 -20.78 -17.18 -16.09
Long-Term Debt to NOPAT		 9.69 10.60 8.50 9.36 3.58 3.62 3.46 -10.35 -22.72 -18.36 -17.37
Altman Z-Score		 2.03 2.23 2.04 2.28 2.52 1.92 1.65 1.49 1.65 1.43 1.60
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.61 1.61 1.59 1.54 1.07 1.12 0.98 1.49 1.78 1.76 1.78
Quick Ratio		 0.95 0.95 0.96 0.84 0.65 0.69 0.62 0.88 1.04 1.01 1.05
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 394 445 524 511 1,324 648 300 449 688 849 1,119
Operating Cash Flow to CapEx		 497.23% 408.07% 613.76% 600.00% 630.18% 390.36% 521.62% 580.95% 430.14% 175.22% 473.94%
Free Cash Flow to Firm to Interest Expense		 5.95 6.66 8.34 10.05 26.85 15.34 6.92 10.10 15.49 19.51 27.97
Operating Cash Flow to Interest Expense		 3.79 2.12 4.48 4.82 3.52 2.59 3.56 4.67 3.44 1.35 4.46
Operating Cash Flow Less CapEx to Interest Expense		 3.03 1.60 3.75 4.02 2.96 1.93 2.88 3.87 2.64 0.58 3.52
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.53 0.53 0.53 0.53 0.54 0.53 0.52 0.54 0.55 0.55 0.54
Accounts Receivable Turnover		 5.88 5.71 5.82 6.09 6.21 6.01 5.85 6.07 6.21 5.95 5.73
Inventory Turnover		 5.29 5.32 5.37 5.56 5.78 5.69 5.65 5.58 5.70 5.70 5.56
Fixed Asset Turnover		 9.51 9.30 9.40 9.60 9.39 9.06 8.81 8.86 8.88 8.72 8.57
Accounts Payable Turnover		 6.65 6.81 6.73 6.82 6.99 7.09 6.51 6.44 6.28 6.28 6.16
Days Sales Outstanding (DSO)		 62.04 63.97 62.70 59.89 58.78 60.77 62.38 60.10 58.75 61.31 63.65
Days Inventory Outstanding (DIO)		 69.05 68.66 68.00 65.62 63.19 64.13 64.62 65.38 64.09 64.04 65.63
Days Payable Outstanding (DPO)		 54.87 53.63 54.21 53.52 52.21 51.51 56.04 56.66 58.09 58.09 59.24
Cash Conversion Cycle (CCC)		 76.22 79.01 76.49 71.99 69.75 73.39 70.96 68.82 64.75 67.25 70.04
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 10,577 10,465 10,327 10,114 9,799 9,929 10,129 9,211 9,193 9,157 9,067
Invested Capital Turnover		 0.65 0.65 0.65 0.66 0.67 0.66 0.65 0.68 0.69 0.69 0.68
Increase / (Decrease) in Invested Capital		 -243 -336 -381 -414 -777 -537 -198 -903 -606 -771 -1,062
Enterprise Value (EV)		 20,716 22,383 19,243 22,223 18,134 14,828 12,965 12,114 11,394 8,884 10,150
Market Capitalization		 15,442 17,295 14,400 17,587 14,341 11,037 9,172 8,508 7,814 5,347 6,759
Book Value per Share		 $7.77 $7.87 $8.00 $8.17 $8.75 $8.96 $9.22 $8.17 $8.16 $8.19 $8.25
Tangible Book Value per Share		 ($6.27) ($5.90) ($5.61) ($5.35) ($4.32) ($4.17) ($4.15) ($3.93) ($3.84) ($3.61) ($3.40)
Total Capital		 10,789 10,659 10,550 10,474 10,013 10,205 10,528 9,428 9,511 9,405 9,328
Total Debt		 5,537 5,323 5,115 4,921 4,056 4,107 4,243 3,858 3,946 3,816 3,698
Total Long-Term Debt		 5,277 5,024 4,857 4,691 3,235 3,279 2,988 3,638 3,916 3,779 3,661
Net Debt		 5,274 5,088 4,842 4,636 3,794 3,791 3,793 3,606 3,581 3,537 3,391
Capital Expenditures (CapEx)		 51 35 46 41 28 28 30 36 36 34 38
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 902 943 850 819 698 760 744 709 738 795 810
Debt-free Net Working Capital (DFNWC)		 1,165 1,178 1,123 1,105 960 1,076 1,193 961 1,103 1,074 1,117
Net Working Capital (NWC)		 905 879 865 875 139 248 -61 741 1,072 1,037 1,080
Net Nonoperating Expense (NNE)		 53 49 50 39 46 46 37 258 30 34 19
Net Nonoperating Obligations (NNO)		 5,324 5,129 4,892 4,561 3,843 3,830 3,843 3,641 3,628 3,569 3,437
Total Depreciation and Amortization (D&A)		 104 103 105 105 104 102 105 107 105 107 107
Debt-free, Cash-free Net Working Capital to Revenue		 12.94% 13.74% 12.46% 12.01% 10.29% 11.37% 11.16% 10.78% 11.26% 12.13% 12.35%
Debt-free Net Working Capital to Revenue		 16.71% 17.16% 16.45% 16.20% 14.15% 16.09% 17.90% 14.61% 16.84% 16.39% 17.03%
Net Working Capital to Revenue		 12.98% 12.80% 12.67% 12.83% 2.05% 3.71% -0.92% 11.27% 16.37% 15.83% 16.46%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.15 $0.09 $0.14 $0.08 $0.74 $0.09 $0.09 ($1.04) $0.08 $0.06 $0.06
Adjusted Weighted Average Basic Shares Outstanding		 675.60M 678.10M 679.40M 680.30M 679.60M 681.10M 681.50M 681.70M 680.60M 675.70M 676.20M
Adjusted Diluted Earnings per Share		 $0.14 $0.09 $0.14 $0.08 $0.73 $0.09 $0.09 ($1.04) $0.08 $0.06 $0.06
Adjusted Weighted Average Diluted Shares Outstanding		 678.40M 681.40M 682.60M 683M 681.90M 682.40M 681.80M 681.70M 680.60M 676.80M 677.20M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 678.28M 679.27M 679.84M 680.61M 680.90M 681.43M 681.74M 681.81M 682.06M 682.76M 676.36M
Normalized Net Operating Profit after Tax (NOPAT)		 151 110 143 97 547 111 102 95 82 78 85
Normalized NOPAT Margin		 8.77% 6.53% 8.37% 5.64% 32.41% 7.02% 6.06% 5.87% 4.93% 4.91% 5.04%
Pre Tax Income Margin		 6.94% 4.80% 6.73% 4.35% 34.64% 5.42% 4.85% -42.46% 4.86% 3.51% 4.80%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 2.80 2.21 2.82 2.47 21.91 3.03 2.88 -14.53 2.71 2.28 3.03
NOPAT to Interest Expense		 2.28 1.64 2.27 1.90 11.09 2.63 2.35 -10.23 1.85 1.78 1.43
EBIT Less CapEx to Interest Expense		 2.04 1.69 2.10 1.66 21.35 2.37 2.20 -15.33 1.91 1.51 2.09
NOPAT Less CapEx to Interest Expense		 1.52 1.12 1.54 1.10 10.53 1.97 1.67 -11.03 1.05 1.01 0.49
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -14.16% 0.00% 0.00%

Financials Breakdown Chart

Key Financial Trends

Avantor’s latest quarter shows a much healthier profit profile than the same period a year ago, but the company is still dealing with slower sales and a heavy debt load. In Q1 2026, revenue fell to $1.58 billion from $1.66 billion in Q4 2025 and was down modestly versus Q1 2025. However, the company remained profitable, generated positive operating cash flow, and continued to reduce debt. That said, leverage remains meaningful, and the balance sheet still reflects a large amount of goodwill and intangible assets from prior acquisitions.

  • Profitability improved versus the prior year quarter. Q1 2026 net income was $43.3 million, compared with a loss of $711.8 million in Q3 2025, which was heavily affected by an impairment charge.
  • Operating cash flow remained positive. Avantor generated $58.7 million in operating cash flow in Q1 2026, showing the business is still producing cash despite softer earnings.
  • Debt has come down from earlier in 2025. Total debt declined to about $3.81 billion long-term debt plus $37 million short-term debt in Q1 2026, down from $3.64 billion long-term debt and $219.8 million short-term debt in Q3 2025, and far below the higher short-term debt levels seen in Q2 2025.
  • Gross profit remained solid. Q1 2026 gross profit of $500.7 million on $1.58 billion of revenue suggests Avantor is still maintaining meaningful product-level profitability.
  • Cash balance improved sequentially. Cash and equivalents rose to $279.3 million in Q1 2026 from $251.9 million in Q3 2025.
  • Revenue trend has been choppy, not collapsing. Quarterly revenue moved within a relatively narrow band over the last year, but the latest quarter still showed softness versus late 2024 and early 2025.
  • Capital spending is restrained. Capital expenditures were $33.5 million in Q1 2026, similar to prior quarters, indicating disciplined investment rather than aggressive expansion.
  • Operating expenses remain significant. SG&A was $401.2 million in Q1 2026, which is still a large fixed-cost base relative to revenue growth.
  • Revenue declined year over year. Q1 2026 revenue of $1.58 billion was below Q1 2025 revenue of $1.58 billion only slightly, but the broader recent trend shows limited top-line growth and some pressure versus 2024 levels.
  • Leverage is still high. Avantor carried nearly $3.8 billion of long-term debt at quarter-end, and interest expense remains a major drag on earnings.

Looking at the longer trend, Avantor’s financials have weakened since 2023–2024. Revenue has drifted lower from the mid-$1.7 billion range in early 2023 to around $1.58 billion in Q1 2026, while operating income has been more volatile and was hit hard in 2025 by an impairment charge. On the balance sheet, goodwill and intangible assets remain large, which is common for acquisitive companies but can increase risk if future performance disappoints.

Bottom line: Avantor still has a functioning business that throws off cash and remains profitable in the latest quarter, but investors should keep an eye on slow sales growth, elevated interest expense, and the possibility of more balance-sheet pressure if operating performance weakens again.

07/31/26 09:51 PM ETAI Generated. May Contain Errors.

Avantor Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Avantor's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Avantor's net income appears to be on an upward trend, with a most recent value of -$530.20 million in 2025, rising from -$145.30 million in 2017. The previous period was $711.50 million in 2024. See Avantor's forecast for analyst expectations on what's next for the company.

Avantor's total operating income in 2025 was -$246.20 million, based on the following breakdown:
  • Total Gross Profit: $2.14 billion
  • Total Operating Expenses: $2.38 billion

Over the last 8 years, Avantor's total revenue changed from $1.25 billion in 2017 to $6.55 billion in 2025, a change of 425.3%.

Avantor's total liabilities were at $6.23 billion at the end of 2025, a 1.2% increase from 2024, and a 31.6% decrease since 2018.

In the past 7 years, Avantor's cash and equivalents has ranged from $184.70 million in 2018 to $372.90 million in 2022, and is currently $365.40 million as of their latest financial filing in 2025.

Over the last 8 years, Avantor's book value per share changed from 0.00 in 2017 to 8.16 in 2025, a change of 816.2%.


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Financial statements for NYSE:AVTR last updated on 7/29/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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