Avantor (AVTR) AI Stock Analysis

• Market Cap: $6.32B
• Dividend Yield: N/A
• Average Volume (3M): 13.12M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.77
• Revenue Growth: -3.59%
• EPS Growth: -126.16%
• Country: US
• Employees: 13,500
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Instruments & Supplies
• EPS (TTM): 0.22
• Shares Outstanding: 682,055,900
• 10 Day Avg. Volume: 14,414,041
• 30 Day Avg. Volume: 13,115,179
• PEG Ratio: 0.08
• Price to Book (P/B): 1.40
• Price to Sales (P/S): 1.19
• P/FCF Ratio: 15.70
• Enterprise Value/Market Cap: 1.53
• Enterprise Value/Revenue: 1.47
• Enterprise Value/Gross Profit: 4.51
• Enterprise Value/Ebitda: 69.53
• 1Y Price Target: $10.21
• Price Target Upside: 13.07% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 13
• EPS Forecast (FY): 0.79
• Revenue Forecast (FY): $6.50B

• Rating: 50 Neutral
• Price Target: $11.00 ▲(21.82% Upside)
• Action: Reiterated Date: 02/12/26
• Date: Action: Reiterated 02/12/26

The score is held back primarily by weakening fundamentals and uncertainty in the most recent financial snapshot, plus conservative 2026 guidance (continued organic revenue declines, margin contraction, and wide free-cash-flow range). Consistently positive cash flow and prior leverage improvement provide the main support, while bearish technicals and a negative P/E further pressure the overall rating.

Positive Factors

Consistent cash generation

Avantor has produced positive operating and free cash flow across the years shown, which provides durable internal funding for operations, targeted investments and debt reduction. Reliable cash conversion supports liquidity and resilience while management prioritizes deleveraging and capital allocation flexibility.

Improved leverage profile

A meaningful reduction in debt-to-equity through 2024 reflects improved balance-sheet flexibility, lowering interest and refinancing risk. A stronger capital structure enhances capacity to fund Revival investments, absorb cyclical shocks in end markets, and pursue strategic initiatives without immediate capital stress.

Revival cost savings and reorganization

The Revival program's $265M run-rate savings and a formal PMO indicate structural cost base improvement and clearer accountability. Combined with the go-to-market reorganization and VWR relaunch, these moves can sustainably raise operating efficiency and improve margins as execution progresses.

Negative Factors

Sustained organic revenue declines

Two consecutive years of negative organic growth and conservative 2026 guidance signal underlying demand or share challenges in key end markets. Prolonged organic contraction limits scale benefits, pressures margin recovery efforts, and increases reliance on cost actions to sustain earnings.

Margin contraction underway

Material margin deterioration and guidance for further contraction reflect mix shifts, pricing pressures and planned investments. Sustained margin compression reduces free cash flow and restricts reinvestment capacity, making recovery dependent on successful execution of restructuring and pricing actions.

Operational bottlenecks and elevated backlog

Ongoing operational bottlenecks and high backlog raise service, working-capital and fulfillment risks. These structural execution issues can erode customer satisfaction and margins, necessitating multi-quarter operational investments and time to debottleneck, delaying sustainable revenue and margin recovery.

Avantor Business Overview & Revenue Model

Company Description

Avantor, Inc. provides products and services to customers in 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, peristaltic pumps, 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, and critical environment supplies. In addition, the company offers services and specialty procurements comprising onsite lab and production, clinical, equipment, procurement and sourcing, and biopharmaceutical material scale-up and development services. Avantor, Inc. was founded in 1904 and is headquartered in Radnor, Pennsylvania.

How the Company Makes Money

Avantor generates revenue primarily through the sale of its products and services to customers in the pharmaceutical, biotechnology, and advanced materials industries. Key revenue streams include the sale of essential laboratory supplies, specialty chemicals, and equipment, as well as customized services tailored to meet the specific needs of clients. The company benefits from long-term contracts and relationships with major pharmaceutical and biotechnology firms, which provide a stable revenue base. Additionally, Avantor's focus on innovation and product development, along with strategic partnerships and collaborations with research institutions and industry leaders, further enhances its revenue potential. The company's global footprint and operational efficiency also contribute to its profitability by allowing it to scale operations and reduce costs effectively.

Avantor Financial Statement Overview

Summary

Cash flow has been consistently positive (strong operating and free cash flow across years), and leverage improved through 2024. Offsetting this, revenue trends weakened into 2023–2024 and the latest annual period shows severe deterioration/anomalies (revenue reported at 0 and a large net loss), creating elevated uncertainty around the current run-rate despite cash-flow resilience.

Income Statement

Profitability was solid in 2021–2024, with relatively steady gross margin (~33–35%) and improved earnings versus 2020, but revenue trends weakened (growth turned negative in 2023 and 2024). The latest annual period shows a sharp deterioration with revenue reported at 0 and a large net loss, which makes the most recent profitability picture materially worse and raises data-quality and/or operating-risk concerns.

Balance Sheet

Leverage improved meaningfully from 2020–2024 as debt-to-equity moved down from ~1.83 to ~0.71, while equity remained substantial versus total assets. However, the most recent annual snapshot shows an unusually low debt figure alongside negative return on equity, which clouds comparability and suggests either one-time balance sheet changes or reporting noise; historically, the company has carried moderate leverage that can pressure flexibility if earnings weaken.

Cash Flow

Cash generation has been consistently strong, with positive operating cash flow and free cash flow every year shown. Free cash flow tracked at roughly ~80–90% of net income across profitable years, supporting earnings quality, though free cash flow growth has been uneven (declines in multiple years, including the last two). In the latest annual period, cash flow remained positive despite a net loss, which helps liquidity but also signals a gap between earnings and cash results that warrants monitoring.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	6.55B	6.78B	6.97B	7.51B	7.39B
Gross Profit	2.14B	2.28B	2.36B	2.60B	2.50B
EBITDA	138.70M	1.48B	1.10B	1.52B	1.35B
Net Income	-530.20M	711.50M	321.10M	686.50M	572.60M
Balance Sheet
Total Assets	11.79B	12.11B	12.97B	13.46B	13.90B
Cash, Cash Equivalents and Short-Term Investments	365.40M	261.90M	262.90M	372.90M	301.70M
Total Debt	3.95B	4.06B	5.54B	6.29B	7.02B
Total Liabilities	6.23B	6.16B	7.72B	8.61B	9.70B
Stockholders Equity	5.57B	5.96B	5.25B	4.86B	4.20B
Cash Flow
Free Cash Flow	495.00M	692.00M	723.60M	710.20M	842.50M
Operating Cash Flow	623.80M	840.80M	870.00M	843.60M	953.60M
Investing Cash Flow	-130.50M	438.90M	-143.70M	-109.60M	-4.12B
Financing Cash Flow	-409.40M	-1.28B	-843.70M	-648.70M	3.22B

Avantor Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 9.03
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AVTR, the sentiment is Negative. The current price of 9.03 is below the 20-day moving average (MA) of 10.50, below the 50-day MA of 11.20, and below the 200-day MA of 12.45, indicating a bearish trend. The MACD of -0.68 indicates Positive momentum. The RSI at 28.37 is Positive, neither overbought nor oversold. The STOCH value of 11.22 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AVTR.

Avantor Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
EMN	68 Neutral	$9.16B	19.57	8.07%	5.33%	-3.33%	-19.59%
SQM	63 Neutral	$20.02B	39.54	9.87%	―	-10.07%	―
ALB	60 Neutral	$20.18B	―	-5.24%	1.10%	-23.92%	90.47%
KWR	58 Neutral	$3.02B	-341.48	-0.64%	1.37%	0.08%	-107.33%
WLK	56 Neutral	$12.77B	-12.81	-9.48%	2.88%	-5.32%	-1108.29%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
AVTR	50 Neutral	$6.32B	-11.84	-9.20%	―	-3.59%	-126.16%

Avantor Corporate Events

Avantor appoints Simon Dingemans to board of directors

On December 17, 2025, Avantor, Inc.’s board of directors elected veteran finance and investment executive Simon Dingemans as a director, effective January 2, 2026, to fill the vacancy created by Jonathan Peacock’s previously announced resignation effective December 31, 2025. Dingemans, a former Chief Financial Officer of GSK and senior leader at The Carlyle Group and Goldman Sachs, has been deemed independent under New York Stock Exchange and U.S. securities law standards and will receive Avantor’s standard non-employee director compensation package, including a prorated cash retainer and restricted stock units scheduled to vest in May 2026, reflecting the company’s continued effort to strengthen its board with experienced global corporate and financial leadership.

The most recent analyst rating on (AVTR) stock is a Sell with a $9.00 price target. To see the full list of analyst forecasts on Avantor stock, see the AVTR Stock Forecast page.

Avantor Appoints Sanjeev Mehra to Board of Directors

On December 4, 2025, Avantor, Inc. announced the election of Sanjeev Mehra to its Board of Directors, with his term set to expire at the company’s 2026 Annual Meeting of Stockholders. Mr. Mehra brings extensive experience from his roles at Periphas Capital and Goldman Sachs, enhancing Avantor’s strategic direction and governance. His appointment is expected to strengthen Avantor’s board with his expertise in private equity and investment management, potentially impacting the company’s market positioning and stakeholder interests.

The most recent analyst rating on (AVTR) stock is a Hold with a $11.50 price target. To see the full list of analyst forecasts on Avantor stock, see the AVTR Stock Forecast page.