Avantor, Inc.AVTR
NYSE•Healthcare•Medical Instruments & Supplies
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.
Avantor, Inc. (AVTR) reported trailing twelve months revenue of $6.55B as of March 2026, a 2.0% decline year-over-year. Quarterly revenue reached $1.58B, reflecting a contraction in sales.
Avantor, Inc. reported a TTM net loss of $551.40M, with quarterly EBITDA of $204.50M. The operating margin contracted from 9.3% to 6.3%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (6.3%) and net margin (2.7%) indicates tight cost control with minimal non-operating drag. Net margin has narrowed from 4.1% a year ago, reflecting increased costs or interest expense.
AVTR trades at a P/S of 1.0x. The price-to-book ratio of 1.2x reflects a moderate premium to book value.
The company generated $25.20M in free cash flow over the trailing twelve months, a 69.0% decrease year-over-year, indicating strong cash generation ability. The balance sheet shows $11.66B in total assets with $3.78B in long-term debt against $5.59B in stockholders equity for a debt-to-equity ratio of 0.7. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are under pressure, averaging 5.8%. The business may lack pricing power or face rising costs.'
ROE is low or negative, suggesting limited competitive advantage or capital allocation challenges.
8 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
Revenue has been flat or declining over recent quarters, which may indicate eroding demand or competitive pressure.
Data-driven red flags and warnings across 21 quarters
Operating margins dropped 128.4% over recent quarters — a sharp decline suggesting serious cost or pricing challenges.
FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.
Debt-to-equity has risen 25.8% recently — increasing financial risk even if the current ratio is manageable.
Revenue has softened, declining in 6 quarters. Monitor for further erosion.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Share count is stable — no significant dilution or buyback activity.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation