Avantor, Inc. AVTR

Technology SIC 3826 - Laboratory Analytical Instruments NAICS Manufacturing › Computer and Electronic Product Manufacturing › Navigational, Measuring, Electromedical, and Control Instruments Manufacturing › Analytical Laboratory Instrument Manufacturing derived NYSE

At Avantor, everything we do is tied to our unique mission of setting science in motion to create a better world.

We are a leading global provider of mission-critical products and services to customers in the biopharma & healthcare, education & government, and advanced technologies & applied materials end markets. Our business model is grounded in supporting our customers from discovery to delivery and Avantor is embedded in virtually every stage of the most important research, scale-up and manufacturing activities in the industries we serve.

We work with customers across these sophisticated, science-driven industries that require innovation and adherence to the most demanding technical and regulatory requirements. Our customer-centric innovation model enables us to provide solutions for some of the most demanding applications, and we leverage our comprehensive offering and access to early-stage research to identify and develop content and solutions that ultimately become specified into our customers' approved production platforms.

Last close 17.29 2026-10-23
Market cap $11.80B 2026-03-31 share count
52-week range 7.26 - 17.45

Valuation FY2025 figures against the last close

P/S1.8x
P/E—
P/FCF23.8x
EV/EBITDA—
Dividend yield—
Diluted EPS-0.78

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • United States
  • All other countries
Revenue by geography, 2 categories over 3 years. The same figures are in the table below. FY2025 United States, FY2025: 3.3B (50.1%) 50% United States All other countries, FY2025: 3.3B (49.9%) 50% All other countries FY2024 United States, FY2024: 3.5B (52.3%) 52% All other countries, FY2024: 3.2B (47.7%) 48% FY2023 United States, FY2023: 3.7B (53.2%) 53% All other countries, FY2023: 3.3B (46.8%) 47%
Region FY2025FY2024FY2023
United States $3.28B $3.55B $3.71B
All other countries $3.27B $3.23B $3.26B

As the company reported it, from the “Segment financial information - geographic areas (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $6.55B$6.78B$6.97B$7.51B$7.39B$6.39B$6.04B$5.86B$1.25B—
Cost of revenue $4.41B$4.50B$4.60B$4.91B$4.88B$4.31B$4.12B$4.04B$814.6M—
Gross profit $2.14B$2.28B$2.36B$2.60B$2.50B$2.08B$1.92B$1.82B$432.8M—
SG&A $1.60B$1.64B$1.51B$1.47B$1.53B$1.37B$1.37B$1.41B$449.7M—
Operating income -$246.2M$1.08B$696.4M$1.13B$972.2M$706.8M$551.8M$413.5M-$210.4M—
Interest expense $169.8M$218.8M$284.8M$265.8M$217.4M$307.6M$440.0M$523.8M$200.9M—
Pre-tax income -$441.3M$853.9M$410.5M$851.1M$753.0M$62.3M$40.6M-$113.8M-$460.2M—
Income tax $88.9M$142.4M$89.4M$164.6M$180.4M$54.3M$2.8M$26.9M$314.9M—
Net income -$530.2M$711.5M$321.1M$686.5M$572.6M$116.6M$37.8M-$86.9M-$112.7M—
EPS, basic -0.781.050.481.020.860.09-0.84-2.69——
EPS, diluted -0.781.040.471.010.850.09-0.84-2.69-2.75—
Shares, diluted (wtd. avg.) 680.6M681.9M678.4M679.4M599.6M583.4M401.2M132.7M——

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $365.4M$261.9M$287.7M$396.9M$327.1M$289.2M$189.3M$187.7M$188.5M$66.0M
Receivables $1.07B$1.03B$1.15B$1.22B$1.22B$1.11B$988.8M$931.2M——
Inventory $818.2M$731.5M$828.1M$913.5M$872.0M$739.6M$711.2M$671.1M——
Total current assets $2.45B$2.15B$2.38B$2.66B$2.48B$2.23B$2.02B$1.90B——
Property, plant and equipment $766.8M$708.1M$737.5M$727.0M$705.5M$549.9M$557.0M$598.6M——
Goodwill $4.99B$5.54B$5.72B$5.65B$5.34B$2.86B$2.77B$2.78B$2.85B—
Other intangibles $3.10B$3.27B$3.68B$4.04B$5.05B$3.96B$4.13B$4.47B——
Total assets $11.79B$12.11B$12.97B$13.46B$13.90B$9.91B$9.77B$9.91B——
Accounts payable $741.7M$662.8M$625.9M$758.2M$755.1M$678.9M$560.2M$557.4M——
Short-term debt $30.8M$821.1M$259.9M$364.2M$45.2M$26.4M$93.5M$142.4M——
Total current liabilities $1.38B$2.01B$1.48B$1.66B$1.45B$1.24B$1.07B$1.10B——
Long-term debt $3.92B$3.23B$5.28B$5.92B$6.98B$4.87B$5.02B$6.78B——
Total liabilities $6.23B$6.16B$7.72B$8.61B$9.70B$7.23B$7.31B$9.10B——
Retained earnings $1.67B$2.20B$1.49B$1.17B$483.9M-$88.7M-$203.7M-$238.4M——
Total equity $5.57B$5.96B$5.25B$4.86B$4.20B$2.67B$2.46B-$3.05B-$2.62B-$510.6M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $623.8M$840.8M$870.0M$843.6M$953.6M$929.8M$354.0M$200.5M-$167.5M—
Depreciation and amortisation $109.1M$105.7M$94.6M$87.2M$88.4M$87.9M$86.6M$83.3M$34.0M—
Stock-based compensation $46.4M$46.8M$40.5M$45.8M$50.7M$44.1M$67.9M$18.4M$48.2M—
Capital expenditure $128.8M$148.8M$146.4M$133.4M$111.1M$61.6M$51.6M$37.7M$25.2M—
Investing cash flow -$130.5M$438.9M-$143.7M-$109.6M-$4.12B-$59.1M-$42.1M-$23.2M-$6.68B—
Financing cash flow -$409.4M-$1.28B-$843.7M-$648.7M$3.22B-$782.9M-$307.8M-$170.3M$6.96B—
Buybacks $75.1M$0$0———————

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-007118.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -2.5B 0 2.5B 5B 7.5B 10B Revenue, FY2017: 1.2B Gross profit, FY2017: 432.8M Net income, FY2017: -112.7M Revenue, FY2018: 5.9B Gross profit, FY2018: 1.8B Net income, FY2018: -86.9M Revenue, FY2019: 6B Gross profit, FY2019: 1.9B Net income, FY2019: 37.8M Revenue, FY2020: 6.4B Gross profit, FY2020: 2.1B Net income, FY2020: 116.6M Revenue, FY2021: 7.4B Gross profit, FY2021: 2.5B Net income, FY2021: 572.6M Revenue, FY2022: 7.5B Gross profit, FY2022: 2.6B Net income, FY2022: 686.5M Revenue, FY2023: 7B Gross profit, FY2023: 2.4B Net income, FY2023: 321.1M Revenue, FY2024: 6.8B Gross profit, FY2024: 2.3B Net income, FY2024: 711.5M Revenue, FY2025: 6.6B Gross profit, FY2025: 2.1B Net income, FY2025: -530.2M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue — $1.25B $5.86B $6.04B $6.39B $7.39B $7.51B $6.97B $6.78B $6.55B
Gross profit — $432.8M $1.82B $1.92B $2.08B $2.50B $2.60B $2.36B $2.28B $2.14B
Net income — -$112.7M -$86.9M $37.8M $116.6M $572.6M $686.5M $321.1M $711.5M -$530.2M

Recent filings and events

  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Officer or director change Item 5.02
  • Regulation FD disclosure Item 7.01
  • Officer or director change Item 5.02
  • Officer or director change Item 5.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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