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Avantor
(NYSE:AVTR)
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Rating:63Neutral
Price Target:
$18.00
▲(23.20% Upside)
Action:Reiterated
Date:10/28/26
AVTR scores as a mid-range opportunity: strong technical momentum and a constructive earnings update with raised guidance support the outlook, but the overall score is held back by recent net losses/negative profitability and a negative P/E that reflects those earnings pressures. Continued cash-flow strength and leverage reduction are key offsets to watch.
Positive Factors
Recurring mission-critical demand
Avantor is embedded in laboratory, research and biopharmaceutical manufacturing workflows through consumables, qualified materials and procurement services. This recurring, mission-critical model can support customer retention, repeat purchasing and durable revenue visibility across the next several quarters.
Negative Factors
Sustained net losses
The shift from solid profitability in 2022–2024 to substantial net and operating losses weakens earnings quality and reduces the company’s ability to compound internally. Recovery in revenue alone may not be sufficient if expenses and margin pressures keep profitability negative.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring mission-critical demand
Avantor is embedded in laboratory, research and biopharmaceutical manufacturing workflows through consumables, qualified materials and procurement services. This recurring, mission-critical model can support customer retention, repeat purchasing and durable revenue visibility across the next several quarters.
Read all positive factors
Avantor Key Performance Indicators (KPIs)
Any
Revenue by Segment
Shows how much each business segment contributes to total revenue, indicating the company’s diversification and which segments are leading growth or facing headwinds.
Shows how much each business segment contributes to total revenue, indicating the company’s diversification and which segments are leading growth or facing headwinds.
Data provided by:
The Fly
The FlyAvantor (AVTR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$11.59B
Dividend YieldN/A
Average Volume (3M)9.41M
Price to Earnings (P/E)―
Beta (1Y)0.87
Revenue Growth-1.57%
EPS Growth-183.83%
CountryUS
Employees13,500
SectorHealthcare
Sector Strength45
IndustryMedical - Instruments & Supplies
Share Statistics
EPS (TTM)-0.84
Shares Outstanding676,358,800
10 Day Avg. Volume10,546,562
30 Day Avg. Volume9,411,610
Financial Highlights & Ratios
PEG Ratio0.08
Price to Book (P/B)1.40
Price to Sales (P/S)1.19
P/FCF Ratio15.70
Enterprise Value/Market Cap0.87
Enterprise Value/Revenue1.54
Enterprise Value/Gross Profit4.83
Enterprise Value/Ebitda80.57
Forecast
1Y Price Target
$15.68Price Target Upside7.34% Upside
Rating ConsensusHold
Number of Analyst Covering12
EPS Forecast (FY)0.81
Revenue Forecast (FY)$6.59B
Avantor Business Overview & Revenue Model
Company Description
Avantor, Inc., a company established in 1904 and based in Radnor, Pennsylvania, is a global provider of vital products and specialized services. Operating across the Americas, Europe, Asia, the Middle East, and Africa, Avantor caters to a wide arr...
How the Company Makes Money
Avantor primarily makes money by selling products and services used in laboratory research, testing, and biopharmaceutical manufacturing. Its revenue is largely generated from (1) consumables and repeat-purchase items (e.g., chemicals, reagents, l...
Avantor Earnings Call Summary
Earnings Call Date:Oct 28, 2026
(Q3-2026)
| Next Earnings Date:Feb 04, 2027
Earnings Call Sentiment Positive
The call was strongly constructive. Avantor reported a return to organic growth, outperformance in both revenue and adjusted EPS, positive performance in VWR and BMP, robust free cash flow, lower leverage, improved order trends, and raised full-year guidance. The main challenges were mix and inflationary margin pressure, foreign-exchange headwinds, BMP comparison effects, pricing that remains below inflation, and a lagging European market. Highlights significantly outweighed the lowlights.Positive Updates
Return to Organic Revenue Growth
Avantor generated third-quarter revenue of $1.698 billion, representing 5.2% year-over-year organic growth and 4.6% reported growth, exceeding expectations. Management described the quarter as Avantor's return to organic revenue growth and an important milestone in the Revival program.
Negative Updates
Margin Pressure from Mix and Inflation
VWR adjusted operating income was $119 million, with a 9.7% adjusted operating margin. VWR's year-over-year and sequential operating-margin declines primarily reflected mix, inflationary pressures, and growth investments. Company-wide margins also faced pressure because VWR grew faster than BMP and has a lower gross-margin profile.
Read all updates
Q3-2026 Updates
Positive
Negative
Return to Organic Revenue Growth
Avantor generated third-quarter revenue of $1.698 billion, representing 5.2% year-over-year organic growth and 4.6% reported growth, exceeding expectations. Management described the quarter as Avantor's return to organic revenue growth and an important milestone in the Revival program.
Read all positive updates
Company Guidance
For full year 2026, Avantor raised its organic revenue growth outlook to a range of 0.75 to 1.25%, with Q4 organic revenue growth implied at 2.5 to 4.5%; foreign exchange is expected to be a headwind of 150 basis points to reported revenue in Q4 and contribute approximately 75 basis points to full year reported revenue growth. VWR is expected to grow mid single digits in Q4, while BMP is expected to deliver year over year organic growth that is flat to slightly positive, reflecting approximately 400 basis points of headwind from discrete comparisons, with modest sequential growth from Q3 to Q4. Adjusted EBITDA margin guidance remains unchanged and is expected to expand modestly from Q3 to Q4; the adjusted effective tax rate is expected to be between 22% and 22.5%, weighted average diluted share count is expected to be 679 million shares, adjusted EPS guidance is $0.81 to $0.83, and free cash flow guidance is between $520 million and $550 million in 2026, with the adjusted net leverage ratio expected to be below 3x by year end.Avantor Financial Statement Overview
Summary
Income Statement
36
Negative
Balance Sheet
58
Neutral
Cash Flow
63
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.56B | 6.55B | 6.78B | 6.97B | 7.51B | 7.39B |
| Gross Profit | 2.09B | 2.14B | 2.28B | 2.36B | 2.60B | 2.50B |
| EBITDA | 125.30M | 138.70M | 1.48B | 1.10B | 1.52B | 1.35B |
| Net Income | -578.00M | -530.20M | 711.50M | 321.10M | 686.50M | 572.60M |
Balance Sheet | ||||||
| Total Assets | 11.60B | 11.79B | 12.11B | 12.97B | 13.46B | 13.90B |
| Cash, Cash Equivalents and Short-Term Investments | 306.80M | 365.40M | 261.90M | 262.90M | 372.90M | 301.70M |
| Total Debt | 3.70B | 3.95B | 4.06B | 5.54B | 6.29B | 7.02B |
| Total Liabilities | 5.97B | 6.23B | 6.16B | 7.72B | 8.61B | 9.70B |
| Stockholders Equity | 5.63B | 5.57B | 5.96B | 5.25B | 4.86B | 4.20B |
Cash Flow | ||||||
| Free Cash Flow | 454.70M | 495.00M | 692.00M | 723.60M | 710.20M | 842.50M |
| Operating Cash Flow | 597.00M | 623.80M | 840.80M | 870.00M | 843.60M | 953.60M |
| Investing Cash Flow | -143.00M | -130.50M | 438.90M | -143.70M | -109.60M | -4.12B |
| Financing Cash Flow | -588.50M | -409.40M | -1.28B | -843.70M | -648.70M | 3.22B |
Avantor Technical Analysis
Positive
14.61
Price Trends
15.33
Positive
13.30
Positive
11.13
Positive
Market Momentum
0.59
Negative
69.50
Neutral
88.36
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AVTR, the sentiment is Positive. The current price of 14.61 is below the 20-day moving average (MA) of 16.07, below the 50-day MA of 15.33, and above the 200-day MA of 11.13, indicating a bullish trend. The MACD of 0.59 indicates Negative momentum. The RSI at 69.50 is Neutral, neither overbought nor oversold. The STOCH value of 88.36 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AVTR.
Avantor Risk Analysis
Avantor disclosed 39 risk factors in its most recent earnings report. Avantor reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Avantor Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $28.03B | 50.61 | 18.51% | 0.22% | 12.42% | 17.07% | |
68 Neutral | $5.36B | 36.76 | 8.94% | 0.32% | 14.73% | 7.43% | |
66 Neutral | $11.16B | -837.14 | -0.56% | ― | 16.49% | ― | |
63 Neutral | $11.59B | -20.42 | -10.34% | ― | -1.57% | -183.83% | |
61 Neutral | $1.71B | -14.21 | -7.56% | 0.37% | 1.47% | -9.38% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
AVTR
Avantor
17.13
5.55
47.93%
AZTA
Azenta
39.08
9.29
31.18%
RGEN
Repligen
175.80
27.32
18.40%
WST
West Pharmaceutical Services
398.29
114.32
40.26%
STVN
Stevanato Group
19.64
-6.07
-23.60%
Avantor Corporate Events
Business Operations and StrategyExecutive/Board Changes
Avantor Names Todd Garner as New Chief Financial Officer
Positive
Sep 21, 2026
On September 21, 2026, Avantor, Inc. appointed Todd Garner as Executive Vice President and Chief Financial Officer, with Garner joining the Executive Leadership Team as the company’s principal financial officer. The move ends the interim CFO...
Business Operations and StrategyExecutive/Board Changes
Avantor Appoints Todd Garner as New Chief Financial Officer
Positive
Sep 21, 2026
On September 21, 2026, Avantor announced that Todd Garner was appointed Executive Vice President and Chief Financial Officer, joining the executive leadership team and serving as the company’s principal financial officer. He will oversee glo...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.