Avantor, Inc. (AVTR) Balance Sheet
AVTR balance sheet, 2025
December 31, 2025 · U.S. dollars$11.79B assets = $6.23B liabilities + $5.57B equity
Both columns are drawn to the same scale: what AVTR owns equals what it owes plus shareholders’ equity. Hover a block for its value.
AVTR financial health
Descriptive bands, not a rating. Fiscal 2025.
AVTR balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $1.14B2016 | $11.79B2025 | +29.7%/yr | |
| Total liabilities | $1.65B2016 | $6.23B2025 | +15.9%/yr | |
| Shareholders’ equity | −$374.9M2016 | $5.57B2025 | — | |
| Cash & short-term investments | $62.9M2016 | $365.4M2025 | +21.6%/yr | |
| Total debt | $1.30B2016 | $3.95B2025 | +13.2%/yr | |
| Net cash (debt) | −$1.23B2016 | −$3.58B2025 | −$2.3B | |
| Working capital | $156.1M2016 | $1.07B2025 | +$916.2M | |
| Book value per share | −$0.762016 | $8.192025 | — | |
| Current ratio | 2.152016 | 1.782025 | −0.37 | |
| Debt / equity | 2.082019 | 0.712025 | −1.37 | |
| Shares outstanding | 491.3M2016 | 679.3M2025 | +3.7%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
AVTR assets
AVTR liabilities and equity
AVTR debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
AVTR balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $365.4M | $261.9M | $262.9M | $372.9M | $301.7M | $286.6M | $186.7M | $184.7M | $185.4M | $62.9M |
| Cash & equivalents | $365.4M | $261.9M | $262.9M | $372.9M | $301.7M | $286.6M | $186.7M | $184.7M | $185.4M | $62.9M |
| Short-term investments | — | — | $16.6M | $26.2M | — | — | — | — | — | — |
| Receivables | $1.07B | $1.03B | $1.15B | $1.22B | $1.22B | $1.11B | $988.8M | $931.2M | $875.0M | $87.9M |
| Inventory | $818.2M | $731.5M | $828.1M | $913.5M | $872.0M | $739.6M | $711.2M | $671.1M | $695.1M | $122.2M |
| Other current assets | $193.0M | $118.7M | $143.7M | $153.1M | $81.4M | $91.4M | $134.8M | $112.6M | $78.3M | $19.0M |
| Total current assets | $2.45B | $2.15B | $2.38B | $2.66B | $2.48B | $2.23B | $2.02B | $1.90B | $1.83B | $292.0M |
| Property, plant & equipment (net) | $766.8M | $708.1M | $737.5M | $727.0M | $705.5M | $549.9M | $557.0M | $598.6M | $663.5M | $204.0M |
| Goodwill & intangible assets | $8.18B | $8.90B | $9.49B | $9.79B | $10.48B | $6.91B | $6.99B | $7.35B | $7.84B | $627.5M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $396.0M | $360.7M | $358.3M | $293.5M | $233.1M | $216.7M | $205.2M | $63.0M | $112.6M | $12.3M |
| Total assets | $11.79B | $12.11B | $12.97B | $13.46B | $13.90B | $9.91B | $9.77B | $9.91B | $10.45B | $1.14B |
| Liabilities | ||||||||||
| Accounts payable | $741.7M | $662.8M | $625.9M | $758.2M | $755.1M | $678.9M | $560.2M | $557.4M | $542.0M | $48.0M |
| Short-term debt | $30.8M | $821.1M | $259.9M | $364.2M | $45.2M | $26.4M | $93.5M | $142.4M | $109.0M | $13.7M |
| Deferred revenue | — | — | $183.3M | $731.4M | $249.5M | $223.8M | $188.5M | $221.5M | $257.8M | $10.0M |
| Total current liabilities | $1.38B | $2.01B | $1.48B | $1.66B | $1.45B | $1.24B | $1.07B | $1.10B | $1.10B | $135.9M |
| Long-term debt | $3.92B | $3.23B | $5.28B | $5.92B | $6.98B | $4.87B | $5.02B | $6.78B | $7.01B | $1.28B |
| Other long-term liabilities | $935.3M | $915.6M | $963.1M | $1.03B | $1.27B | $1.12B | $1.21B | $5.08B | $4.95B | $228.1M |
| Total liabilities | $6.23B | $6.16B | $7.72B | $8.61B | $9.70B | $7.23B | $7.31B | $12.96B | $13.07B | $1.65B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $3.98B | $3.94B | $3.83B | $3.79B | $2.75B | $1.74B | $1.75B | −$2.75B | −$2.49B | −$338.8M |
| Retained earnings (deficit) | $1.67B | $2.20B | $1.49B | $1.17B | $483.9M | −$88.7M | −$203.7M | −$238.4M | −$156.3M | −$5.7M |
| Accumulated other comprehensive income | −$16.9M | −$184.0M | −$69.0M | −$100.3M | −$43.2M | $21.7M | −$85.9M | −$66.5M | $26.4M | −$30.4M |
| Total shareholders' equity | $5.57B | $5.96B | $5.25B | $4.86B | $4.20B | $2.67B | $2.46B | −$3.05B | −$2.62B | −$374.9M |
| Key figures | ||||||||||
| Total debt | $3.95B | $4.06B | $5.54B | $6.29B | $7.02B | $4.89B | $5.12B | $6.92B | $7.12B | $1.30B |
| Net cash (debt) | −$3.58B | −$3.79B | −$5.27B | −$5.91B | −$6.72B | −$4.61B | −$4.93B | −$6.74B | −$6.93B | −$1.23B |
| Working capital | $1.07B | $139.1M | $904.6M | $999.1M | $1.03B | $988.2M | $947.0M | $803.4M | $729.5M | $156.1M |
| Tangible book value | −$2.62B | −$2.94B | −$4.24B | −$4.93B | −$6.28B | −$4.23B | −$4.53B | −$10.40B | −$10.46B | −$1.00B |
| Book value per share | $8.19 | $8.74 | $7.74 | $7.15 | $7.00 | $4.58 | $6.14 | −$6.15 | −$5.28 | −$0.76 |
| Shares outstanding | 679.3M | 681.9M | 678.4M | 679.4M | 599.6M | 583.4M | 401.2M | 496.5M | 496.5M | 491.3M |
| Current ratio | 1.78 | 1.07 | 1.61 | 1.60 | 1.71 | 1.80 | 1.88 | 1.73 | 1.66 | 2.15 |
| Quick ratio | 1.04 | 0.65 | 0.95 | 0.96 | 1.05 | 1.13 | 1.09 | 1.02 | 0.96 | 1.11 |
| Debt / equity | 0.71 | 0.68 | 1.05 | 1.29 | 1.67 | 1.83 | 2.08 | — | — | — |
| Equity / assets | 47.2% | 49.2% | 40.5% | 36.1% | 30.2% | 27.0% | 25.2% | −30.8% | −25.1% | −33.0% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $306.8M | $279.3M | $365.4M | $251.9M | $449.4M | $315.7M | $261.9M | $285.3M | $272.6M | $234.9M | $262.9M | $236.9M |
| Cash & equivalents | $306.8M | $279.3M | $365.4M | $251.9M | $449.4M | $315.7M | $261.9M | $285.3M | $272.6M | $234.9M | $262.9M | $236.9M |
| Short-term investments | — | — | — | — | — | — | — | — | $14.9M | $18.0M | $16.6M | $28.5M |
| Receivables | $1.14B | $1.10B | $1.07B | $1.08B | $1.15B | $1.10B | $1.03B | $1.09B | $1.13B | $1.13B | $1.15B | $1.15B |
| Inventory | $828.7M | $810.3M | $818.2M | $795.5M | $779.8M | $750.1M | $731.5M | $779.6M | $795.6M | $810.6M | $828.1M | $850.3M |
| Other current assets | $187.8M | $209.9M | $193.0M | $132.1M | $136.0M | $120.3M | $118.7M | $352.1M | $132.0M | $145.9M | $143.7M | $147.3M |
| Total current assets | $2.46B | $2.40B | $2.45B | $2.26B | $2.51B | $2.28B | $2.15B | $2.50B | $2.33B | $2.32B | $2.38B | $2.38B |
| Property, plant & equipment (net) | $772.1M | $766.2M | $766.8M | $761.6M | $759.0M | $736.3M | $708.1M | $722.8M | $753.8M | $739.7M | $737.5M | $698.3M |
| Goodwill & intangible assets | $7.95B | $8.05B | $8.18B | $8.25B | $9.11B | $8.94B | $8.90B | $9.19B | $9.24B | $9.33B | $9.49B | $9.43B |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $412.0M | $441.7M | $396.0M | $405.7M | $390.9M | $367.5M | $360.7M | $419.8M | $368.1M | $367.7M | $358.3M | $289.2M |
| Total assets | $11.60B | $11.66B | $11.79B | $11.68B | $12.78B | $12.33B | $12.11B | $12.84B | $12.69B | $12.76B | $12.97B | $12.80B |
| Liabilities | ||||||||||||
| Accounts payable | $743.2M | $735.5M | $741.7M | $691.6M | $708.8M | $680.1M | $662.8M | $673.5M | $657.4M | $573.4M | $625.9M | $655.8M |
| Short-term debt | $37.0M | $37.0M | $30.8M | $219.8M | $1.25B | $827.5M | $821.1M | $229.7M | $258.4M | $299.1M | $259.9M | $335.6M |
| Deferred revenue | — | — | — | — | — | — | — | $39.9M | $1 | — | $183.3M | $159.6M |
| Total current liabilities | $1.38B | $1.37B | $1.38B | $1.52B | $2.58B | $2.03B | $2.01B | $1.63B | $1.46B | $1.44B | $1.48B | $1.49B |
| Long-term debt | $3.66B | $3.78B | $3.92B | $3.64B | $2.99B | $3.28B | $3.23B | $4.69B | $4.86B | $5.02B | $5.28B | $5.29B |
| Other long-term liabilities | $922.9M | $927.7M | $935.3M | $951.1M | $927.1M | $914.6M | $915.6M | $966.2M | $937.3M | $961.3M | $963.1M | $920.1M |
| Total liabilities | $5.97B | $6.07B | $6.23B | $6.11B | $6.49B | $6.23B | $6.16B | $7.29B | $7.26B | $7.43B | $7.72B | $7.70B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $4.01B | $3.99B | $3.98B | $3.97B | $3.96B | $3.95B | $3.94B | $3.92B | $3.90B | $3.88B | $3.83B | $3.82B |
| Retained earnings (deficit) | $1.75B | $1.72B | $1.67B | $1.62B | $2.33B | $2.27B | $2.20B | $1.70B | $1.64B | $1.55B | $1.49B | $1.39B |
| Accumulated other comprehensive income | −$55.2M | −$43.7M | −$16.9M | −$23.6M | −$10.4M | −$117.7M | −$184.0M | −$73.9M | −$107.3M | −$97.0M | −$69.0M | −$111.1M |
| Total shareholders' equity | $5.63B | $5.59B | $5.57B | $5.57B | $6.29B | $6.10B | $5.96B | $5.55B | $5.43B | $5.34B | $5.25B | $5.10B |
| Key figures | ||||||||||||
| Total debt | $3.70B | $3.82B | $3.95B | $3.86B | $4.24B | $4.11B | $4.06B | $4.92B | $5.12B | $5.32B | $5.54B | $5.63B |
| Net cash (debt) | −$3.39B | −$3.54B | −$3.58B | −$3.61B | −$3.79B | −$3.79B | −$3.79B | −$4.64B | −$4.84B | −$5.09B | −$5.27B | −$5.39B |
| Working capital | $1.08B | $1.04B | $1.07B | $740.7M | −$61.1M | $248.0M | $139.1M | $874.9M | $864.6M | $879.2M | $904.6M | $896.7M |
| Tangible book value | −$2.32B | −$2.46B | −$2.62B | −$2.68B | −$2.83B | −$2.84B | −$2.94B | −$3.64B | −$3.81B | −$4.00B | −$4.24B | −$4.33B |
| Book value per share | $8.31 | $8.23 | $8.19 | $8.17 | $9.22 | $8.94 | $8.73 | $8.13 | $7.96 | $7.83 | $7.73 | $7.52 |
| Shares outstanding | 677.2M | 679.3M | 679.3M | 681.7M | 681.8M | 682.4M | 682.7M | 683.0M | 682.6M | 681.4M | 679.2M | 678.5M |
| Current ratio | 1.78 | 1.76 | 1.78 | 1.49 | 0.98 | 1.12 | 1.07 | 1.54 | 1.59 | 1.61 | 1.61 | 1.60 |
| Quick ratio | 1.05 | 1.01 | 1.04 | 0.88 | 0.62 | 0.69 | 0.65 | 0.84 | 0.96 | 0.95 | 0.95 | 0.93 |
| Debt / equity | 0.66 | 0.68 | 0.71 | 0.69 | 0.67 | 0.67 | 0.68 | 0.89 | 0.94 | 1.00 | 1.05 | 1.10 |
| Equity / assets | 48.6% | 47.9% | 47.2% | 47.7% | 49.2% | 49.5% | 49.2% | 43.2% | 42.8% | 41.8% | 40.5% | 39.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 11, 2026); data from EODHD.
AVTR financial position
At the end of fiscal 2025 (December 31, 2025), Avantor had total assets of $11.8 billion (down 2.6% from a year earlier), total liabilities of $6.2 billion and shareholders' equity of $5.6 billion. It held $365.4 million in cash and short-term investments against $3.9 billion of debt, net debt of $3.6 billion. Its current ratio was 1.78. In the latest quarter (ended June 30, 2026) total assets were $11.6 billion and equity $5.6 billion.
Related: AVTR income statement, AVTR cash flow statement, AVTR key metrics. See the AVTR stock overview for the latest quote and news.
AVTR balance sheet FAQ
What are Avantor's total assets?
Avantor reported total assets of $11.8 billion at the end of fiscal 2025 (December 31, 2025), compared with $12.1 billion a year earlier.
How much debt does Avantor have?
Avantor had $3.9 billion of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 0.71.
How much cash does Avantor have?
Avantor held $365.4 million in cash and short-term investments at the end of fiscal 2025; with $3.9 billion of debt that is net debt of $3.6 billion.
What is Avantor's book value?
Avantor's shareholders' equity (book value) was $5.6 billion at the end of fiscal 2025, or $8.19 per share.
What is Avantor's current ratio?
Avantor had current assets of $2.5 billion and current liabilities of $1.4 billion, a current ratio of 1.78 (it can cover its short-term obligations).
How much goodwill does Avantor have?
Avantor carried $8.2 billion of goodwill and intangible assets, 69.4% of total assets, at the end of fiscal 2025.