AVTR · Avantor, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.58B | - | $1.62B | $1.68B | $1.58B | - | $1.71B | $1.70B | $1.68B | - |
| Cost of Revenue | $1.08B | - | $1.10B | $1.13B | $1.05B | - | $1.15B | $1.12B | $1.11B | - |
| Gross Profit | $500.70M | - | $526.50M | $554.10M | $534.90M | - | $564.40M | $581.50M | $570.50M | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $401.20M | - | $390.30M | $425.30M | $387.50M | - | $439.80M | $405.70M | $424.20M | - |
| Total Operating Expenses | - | - | - | - | - | - | - | - | - | - |
| D&A | $105.00M | - | $102.40M | $102.60M | $99.70M | - | - | - | $99.60M | - |
| Operating Income | $99.50M | - | ($648.80M) | $128.80M | $147.40M | - | $124.60M | $175.80M | $146.30M | - |
| Interest Expense | $42.90M | - | $44.20M | $43.40M | $42.20M | - | $48.70M | $60.90M | $64.30M | - |
| Income Tax | $12.20M | - | $22.30M | $17.00M | $21.20M | - | $16.70M | $21.70M | $20.20M | - |
| Net Income | $43.30M | - | ($711.80M) | $64.70M | $64.50M | - | $57.80M | $92.90M | $60.40M | - |
| EPS - Basic | $0.06 | - | ($1.04) | $0.09 | $0.09 | - | $0.08 | $0.14 | $0.09 | - |
| EPS - Diluted | $0.06 | - | ($1.04) | $0.09 | $0.09 | - | $0.08 | $0.14 | $0.09 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $279.30M | $365.40M | $251.90M | $449.40M | $315.70M | $261.90M | $285.30M | $272.60M | $234.90M | $262.90M |
| Accounts Receivable | $1.10B | $1.07B | $1.08B | $1.15B | $1.10B | $1.03B | $1.09B | $1.13B | $1.13B | $1.15B |
| Inventory | $810.30M | $818.20M | $795.50M | $779.80M | $750.10M | $731.50M | $779.60M | $795.60M | $810.60M | $828.10M |
| Accounts Payable | $735.50M | $741.70M | $691.60M | $708.80M | $680.10M | $662.80M | $673.50M | $657.40M | $573.40M | $625.90M |
| Current Assets | $2.40B | $2.45B | $2.26B | $2.51B | $2.28B | $2.15B | $2.50B | $2.33B | $2.32B | $2.38B |
| Total Assets | $11.66B | $11.79B | $11.68B | $12.78B | $12.33B | $12.11B | $12.84B | $12.69B | $12.76B | $12.97B |
| Current Liabilities | $1.37B | $1.38B | $1.52B | $2.58B | $2.03B | $2.01B | $1.63B | $1.46B | $1.44B | $1.48B |
| Long-term Debt | $3.78B | $3.92B | $3.64B | $2.99B | $3.28B | $3.23B | $4.69B | $4.86B | $5.02B | $5.28B |
| Total Liabilities | $6.07B | $6.23B | $6.11B | $6.49B | $6.23B | $6.16B | $7.29B | $7.26B | $7.43B | $7.72B |
| Stockholders' Equity | $5.59B | $5.57B | $5.57B | $6.29B | $6.10B | $5.96B | $5.55B | $5.43B | $5.34B | $5.25B |
| Retained Earnings | $1.72B | $1.67B | $1.62B | $2.33B | $2.27B | $2.20B | $1.70B | $1.64B | $1.55B | $1.49B |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $58.70M | - | - | - | $109.30M | - | - | - | $141.60M | - |
| Investing Cash Flow | ($32.70M) | - | - | - | ($28.90M) | - | - | - | ($34.20M) | - |
| Financing Cash Flow | ($107.20M) | - | - | - | ($33.60M) | - | - | - | ($130.20M) | - |
| CapEx | $33.50M | - | - | - | $28.00M | - | - | - | $34.70M | - |
| Free Cash Flow | $25.20M | - | - | - | $81.30M | - | - | - | $106.90M | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 31.7% | - | 32.4% | 32.9% | 33.8% | - | 32.9% | 34.1% | 34.0% | - |
| Operating margin | 6.3% | - | -40.0% | 7.7% | 9.3% | - | 7.3% | 10.3% | 8.7% | - |
| EBITDA margin | 12.9% | - | -33.6% | 13.7% | 15.6% | - | - | - | 14.6% | - |
| Net margin | 2.7% | - | -43.8% | 3.8% | 4.1% | - | 3.4% | 5.5% | 3.6% | - |
| Free cash flow margin | 1.6% | - | - | - | 5.1% | - | - | - | 6.4% | - |
| FCF / Net income | 0.58 | - | - | - | 1.26 | - | - | - | 1.77 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 25.4% | - | 24.0% | 25.3% | 24.5% | - | 25.7% | 23.8% | 25.3% | - |
| Effective tax rate | 22.0% | - | - | 20.8% | 24.7% | - | 22.4% | 18.9% | 25.1% | - |
| Return on assets | 0.4% | - | -6.1% | 0.5% | 0.5% | - | 0.5% | 0.7% | 0.5% | - |
| Return on equity | 0.8% | - | -12.8% | 1.0% | 1.1% | - | 1.0% | 1.7% | 1.1% | - |
| Return on invested capital | 0.8% | - | -5.6% | 1.1% | 1.2% | - | 0.9% | 1.4% | 1.1% | - |
| Liquidity | ||||||||||
| Current ratio | 1.76 | 1.78 | 1.49 | 0.98 | 1.12 | 1.07 | 1.54 | 1.59 | 1.61 | 1.61 |
| Quick ratio | 1.17 | 1.18 | 0.96 | 0.67 | 0.75 | 0.70 | 1.06 | 1.05 | 1.05 | 1.05 |
| Cash ratio | 0.20 | 0.26 | 0.17 | 0.17 | 0.16 | 0.13 | 0.18 | 0.19 | 0.16 | 0.18 |
| Leverage | ||||||||||
| Debt / Equity | 0.68 | 0.70 | 0.65 | 0.48 | 0.54 | 0.54 | 0.84 | 0.89 | 0.94 | 1.00 |
| Debt / Assets | 0.32 | 0.33 | 0.31 | 0.23 | 0.27 | 0.27 | 0.37 | 0.38 | 0.39 | 0.41 |
| Debt / EBITDA | 18.48 | - | - | 12.91 | 13.27 | - | - | - | 20.43 | - |
| Interest coverage | 2.3x | - | -14.7x | 3.0x | 3.5x | - | 2.6x | 2.9x | 2.3x | - |
| Equity multiplier | 2.09 | 2.12 | 2.10 | 2.03 | 2.02 | 2.03 | 2.31 | 2.34 | 2.39 | 2.47 |
| Liabilities / Assets | 0.52 | 0.53 | 0.52 | 0.51 | 0.51 | 0.51 | 0.57 | 0.57 | 0.58 | 0.60 |
| Efficiency | ||||||||||
| Asset turnover | 0.14 | - | 0.14 | 0.13 | 0.13 | - | 0.13 | 0.13 | 0.13 | - |
| Inventory turnover | 1.33 | - | 1.38 | 1.45 | 1.40 | - | 1.48 | 1.41 | 1.37 | - |
| Days sales outstanding | 255d | - | 242d | 249d | 253d | - | 232d | 242d | 245d | - |
| Days inventory outstanding | 274d | - | 265d | 252d | 262d | - | 247d | 259d | 267d | - |
| Days payable outstanding | 248d | - | 230d | 229d | 237d | - | 214d | 214d | 189d | - |
| Cash conversion cycle | 280d | - | 277d | 272d | 277d | - | 265d | 287d | 324d | - |
| Valuation | ||||||||||
| P / E | 130.7x | - | - | 149.6x | 180.1x | - | 323.4x | 151.4x | 284.1x | - |
| P / B | 0.9x | - | 1.5x | 1.5x | 1.8x | - | 3.2x | 2.7x | 3.3x | - |
| P / S | 3.4x | - | 5.2x | 5.5x | 7.0x | - | 10.3x | 8.5x | 10.4x | - |
| EV / EBITDA | 43.1x | - | - | 50.6x | 56.8x | - | - | - | 90.3x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 0.0% | - | -5.3% | -1.1% | -5.9% | - | -0.3% | -2.4% | -5.6% | - |
| Revenue CAGR (3y) | -3.9% | - | -4.4% | -4.1% | -6.8% | - | -2.2% | -2.9% | -2.0% | - |
| Revenue CAGR (5y) | -2.4% | - | 0.2% | 2.6% | 0.8% | - | 2.7% | 2.1% | - | - |
| Gross profit growth (YoY) | -6.4% | - | -6.7% | -4.7% | -6.2% | - | -2.5% | -1.4% | -8.7% | - |
| Operating income growth (YoY) | -32.5% | - | - | -26.7% | 0.8% | - | -40.7% | 145.2% | -36.7% | - |
| Net income growth (YoY) | -32.9% | - | - | -30.4% | 6.8% | - | -46.7% | - | -50.3% | - |
| EPS growth (YoY) | -33.3% | - | - | -35.7% | 0.0% | - | -50.0% | - | -50.0% | - |
| EPS CAGR (3y) | -30.7% | - | - | -31.5% | -31.5% | - | -30.7% | -16.4% | -28.9% | - |
| EPS CAGR (5y) | -24.8% | - | - | 2.4% | 12.5% | - | 51.6% | - | - | - |
| FCF growth (YoY) | -69.0% | - | - | - | -23.9% | - | - | - | -44.2% | - |
| FCF CAGR (5y) | -25.8% | - | - | - | -19.5% | - | - | - | - | - |
| Book value growth (YoY) | -8.4% | -6.6% | 0.3% | 15.7% | 14.3% | 13.4% | 8.9% | 8.5% | 6.8% | 8.2% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$6.55B totalLaboratory Solutions Segment$4.40B · 67.1%
Bioscience Production Segment$2.15B · 32.9%
Product / service
$6.55B totalProprietary Materials And Consumables$3.45B · 52.6%
Third Party Materials And Consumables$3.10B · 47.4%
Peer comparison
Same SIC group: Laboratory Analytical Instruments
Comparing Avantor against the 5 most active filers in the same SIC group.