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Avantor (AVTR) Stock Fundamentals, Analysis & Risk Signals

Health score, competitive moat, risk signals, and key metrics at a glance.

NYSE•Healthcare•Medical Instruments & Supplies
C
AverageMetricSide Score: 41/100
ProfitabilityProfit8/30
GrowthGrowth6/25
Balance SheetBalance11/25
Cash QualityCash16/20
Price & Volume
Market Cap $6.97B

Avantor, Inc. engages in the provision of mission-critical products and services to customers in the biopharma, healthcare, education and government, advanced technologies, and applied materials industries in the Americas, Europe, Asia, the Middle East, and Africa. The company offers materials and consumables, such as purity chemicals and reagents, lab products and supplies, formulated silicone materials, customized excipients, customized single-use assemblies, process chromatography resins and columns, analytical sample prep kits, education and microbiology products, clinical trial kits, and fluid handling tips. It also provides equipment and instrumentation products, including filtration systems, virus inactivation systems, incubators, analytical instruments, evaporators, ultra-low-temperature freezers, biological safety cabinets, peristaltic pumps, and critical environment supplies. In addition, the company offers services and specialty procurements comprising onsite lab and production, equipment, procurement and sourcing, and biopharmaceutical material scale-up and development services. Further, it provides scientific research support services, such as DNA extraction, bioreactor servicing, clinical and biorepository, compound management, cleanroom control, monitoring, maintenance, and sanitization services. The company was founded in 1904 and is headquartered in Radnor, Pennsylvania.

Moat Signals

Competitive analysis based on 27 quarters of fundamental data

Pricing Power

Weak Moat

Operating margins are under pressure, averaging 5.8%. The business may lack pricing power or face rising costs.'

Competitive Advantage

Weak Moat

ROE is low or negative, suggesting limited competitive advantage or capital allocation challenges.

Cash Generation

Moderate Moat

8 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.

Demand Durability

Weak Moat

Revenue has been flat or declining over recent quarters, which may indicate eroding demand or competitive pressure.

Risk Signals

Data-driven red flags and warnings across 27 quarters

Some Concerns

Margin Pressure

Red Flag

Operating margins dropped 128.4% over recent quarters — a sharp decline suggesting serious cost or pricing challenges.

Earnings Quality

Watch

FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.

Leverage Risk

Watch

Debt-to-equity has risen 25.8% recently — increasing financial risk even if the current ratio is manageable.

Revenue Decline

Watch

Revenue has softened, declining in 6 quarters. Monitor for further erosion.

Cash Burn

Healthy

Free cash flow is consistently positive — the business self-funds without external capital reliance.

Share Dilution

Healthy

Share count is stable — no significant dilution or buyback activity.

Metrics at a Glance

as of March 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue
$6.55B
2.0%
Q. Revenue
$1.58B
TTM EBITDA
$121.40M
91.9%
TTM Op. Income
$-294.10M
127.1%
Q. Op. Income
$99.50M
TTM Net Income
$-551.40M
177.1%
Q. Net Income
$43.30M
EPS
$0.06
Shares Out.
$675.70M
0.8%
$6.55B in TTM revenue declined 2.0% YoY, reaching $1.58B last quarter. TTM EBITDA of $121.40M and TTM operating income of $-294.10M shows growth is flowing through. However, net income is negative at $551.40M — growth is not yet reaching the bottom line. Revenue is contracting — assess whether this is cyclical or structural.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin
31.7%
6.4%
EBITDA Margin
12.9%
Op. Margin
6.3%
32.5%
Net Margin
2.7%
32.9%
Op. margin of 6.3% is down 3.0% YoY — costs are rising relative to revenue. Net margin at 2.7% and gross margin of 31.7% — earnings take a bigger bite when COGS stays lean..

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio
N/A
P/S Ratio
1.1x
P/B Ratio
1.2x
P/S of 1.1x and P/B of 1.2x. A low P/S may indicate the stock is undervalued.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets
$11.66B
Cash
$279.30M
Long-Term Debt
$3.78B
Book Value
$5.59B
D/E Ratio
0.7
Debt/EBITDA
18.5
With $11.66B in assets and $3.78B in long-term debt, the D/E of 0.7and book value of $5.59B — shows a conservative capital structure — the company has a strong financial cushion to weather downturns.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow
$58.70M
Free Cash Flow
$25.20M
69.0%
FCF Margin
0.4%
FCF / Net Income
0.6
FCF of $25.20M on $58.70M in operating cash flow. The FCF / Net Income ratio of -0.0x shows cash consumption — the business is not yet self-funding.

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