Avantor, Inc. (AVTR) Key Metrics
AVTR valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $11.11B
- Enterprise value
- $13.37B
- P/E (TTM)
- — 10-yr median 46.2
- Forward P/E
- 16.9
- PEG ratio
- —
- Price / sales
- 1.7 10-yr median 2.2
- Price / book
- 1.8 10-yr median 3.0
- EV / EBITDA
- 118.5 10-yr median 18.9
- Dividend yield
- —
- Beta
- 0.94
AVTR key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsAVTR valuation Price multiples at each fiscal year-end price.
Price / sales−43.9%
1.2
2025 · hover or tap a bar for each year
20162025
Price / book−42.0%
1.4
2025 · hover or tap a bar for each year
20162025
EV / EBITDA+567.0%
81.9
2025 · hover or tap a bar for each year
20162025
Price / free cash flow−24.3%
15.7
2025 · hover or tap a bar for each year
20162025
Free cash flow yield+1.5 pts
6.4%
2025 · hover or tap a bar for each year
20162025
AVTR returns How much profit the business earns on the capital it uses.
Return on equity−21.9 pts
−9.2%
2025 · hover or tap a bar for each year
20162025
Return on invested capital−11.0 pts
−2.1%
2025 · hover or tap a bar for each year
20162025
Return on assets−10.1 pts
−4.4%
2025 · hover or tap a bar for each year
20162025
Free cash flow margin−2.6 pts
7.6%
2025 · hover or tap a bar for each year
20162025
Asset turnover+1.3%
0.55
2025 · hover or tap a bar for each year
20162025
AVTR per-share figures Results divided by the shares outstanding at year-end.
Revenue per share−3.0%
$9.65
2025 · hover or tap a bar for each year
20162025
Earnings per share
−$0.78
2025 · hover or tap a bar for each year
20162025
Free cash flow per share−28.2%
$0.73
2025 · hover or tap a bar for each year
20162025
Book value per share−6.2%
$8.19
2025 · hover or tap a bar for each year
20162025
Shares outstanding−0.4%
679.3M
2025 · hover or tap a bar for each year
20162025
AVTR financial health Debt, liquidity and how easily interest is covered.
Debt / equity+4.1%
0.71
2025 · hover or tap a bar for each year
20162025
Net debt−$213.0M
$3.58B
2025 · hover or tap a bar for each year
20162025
Net debt / EBITDA+23.25
25.82
2025 · hover or tap a bar for each year
20162025
Current ratio+66.2%
1.78
2025 · hover or tap a bar for each year
20162025
Interest coverage
-1.4
2025 · hover or tap a bar for each year
20162025
Debt / assets−0.1%
0.33
2025 · hover or tap a bar for each year
20162025
AVTR efficiency & capital use Working capital cycle and where the cash goes.
Days sales outstanding0 days
59 days
2025 · hover or tap a bar for each year
20162025
Days of inventory+1 days
64 days
2025 · hover or tap a bar for each year
20162025
Days payables outstanding+6 days
58 days
2025 · hover or tap a bar for each year
20162025
Cash conversion cycle−5 days
65 days
2025 · hover or tap a bar for each year
20162025
Capex / revenue−0.2 pts
2.0%
2025 · hover or tap a bar for each year
20162025
Dividends + buybacks / FCF+15.1 pts
16.3%
2025 · hover or tap a bar for each year
20162025
AVTR valuation history
Fiscal year-endToday10-year median
AVTR returns on capital
ROEROICROA
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
AVTR debt vs cash
Total debtCash & short-term investments
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
AVTR cash returned to shareholders
DividendsBuybacksFree cash flow
AVTR price vs earnings per share
Share price at year-endEPS (right axis)
AVTR key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $7.78B | $14.37B | $15.49B | $14.33B | $25.27B | $16.42B | $7.28B | — | — | — |
| Enterprise value | $11.37B | $18.16B | $20.76B | $20.24B | $31.99B | $21.03B | $12.21B | — | — | — |
| P/E ratio | — | 20.2 | 48.2 | 20.9 | 44.1 | 140.8 | 192.6 | — | — | — |
| Price / sales | 1.2 | 2.1 | 2.2 | 2.9 | 3.4 | 2.6 | 1.2 | — | — | — |
| Price / book | 1.4 | 2.4 | 2.9 | 3.0 | 6.0 | 6.1 | 3.0 | — | — | — |
| Price / free cash flow | 15.7 | 20.8 | 21.4 | 20.2 | 30.0 | 18.9 | 24.1 | — | — | — |
| Price / operating cash flow | 12.5 | 17.1 | 17.8 | 17.0 | 26.5 | 17.7 | 20.6 | — | — | — |
| EV / sales | 1.7 | 2.7 | 3.0 | 4.1 | 4.3 | 3.3 | 2.0 | — | — | — |
| EV / EBITDA | 81.9 | 12.3 | 18.9 | 13.2 | 23.7 | 27.5 | 13.9 | — | — | — |
| EV / free cash flow | 23.0 | 26.2 | 28.7 | 28.5 | 38.0 | 24.2 | 40.4 | — | — | — |
| Earnings yield | −6.8% | 5.0% | 2.1% | 4.8% | 2.3% | 0.7% | 0.5% | — | — | — |
| Free cash flow yield | 6.4% | 4.8% | 4.7% | 5.0% | 3.3% | 5.3% | 4.2% | — | — | — |
| Dividend yield | — | 0.0% | 0.1% | 0.2% | 0.3% | 0.4% | 0.4% | — | — | — |
| Shareholder yield (dividends + buybacks) | 1.0% | 0.1% | 0.2% | 0.3% | 0.4% | 0.5% | 36.6% | — | — | — |
| Share price at fiscal year-end | $11.46 | $21.07 | $22.83 | $21.09 | $42.14 | $28.15 | $18.15 | — | — | — |
| Per share | ||||||||||
| Revenue per share | $9.65 | $9.95 | $10.27 | $7.23 | $12.32 | $10.96 | $15.06 | $11.81 | $2.51 | $1.41 |
| Earnings per share | −$0.78 | $1.04 | $0.47 | $1.01 | $0.95 | $0.20 | $0.09 | −$0.18 | −$0.23 | −$0.09 |
| Operating cash flow per share | $0.92 | $1.23 | $1.28 | $1.24 | $1.59 | $1.59 | $0.88 | $0.40 | −$0.34 | $0.15 |
| Free cash flow per share | $0.73 | $1.01 | $1.07 | $1.05 | $1.41 | $1.49 | $0.75 | $0.33 | −$0.39 | $0.09 |
| Cash per share | $0.54 | $0.38 | $0.39 | $0.55 | $0.50 | $0.49 | $0.47 | $0.37 | $0.37 | $0.13 |
| Book value per share | $8.19 | $8.74 | $7.74 | $7.15 | $7.00 | $4.58 | $6.14 | −$6.15 | −$5.28 | −$0.76 |
| Tangible book value per share | −$3.85 | −$4.32 | −$6.25 | −$7.26 | −$10.48 | −$7.26 | −$11.28 | −$20.95 | −$21.06 | −$2.04 |
| Dividends per share | — | $0.00 | $0.03 | $0.05 | $0.11 | $0.11 | $0.08 | $0.06 | $3.43 | $0.32 |
| Capex per share | $0.19 | $0.22 | $0.22 | $0.20 | $0.19 | $0.11 | $0.13 | $0.08 | $0.05 | $0.06 |
| Debt per share | $5.81 | $5.95 | $8.16 | $9.25 | $11.71 | $8.39 | $12.75 | $13.95 | $14.34 | $2.64 |
| Shares outstanding | 679.3M | 681.9M | 678.4M | 679.4M | 599.6M | 583.4M | 401.2M | 496.5M | 496.5M | 491.3M |
| Change in shares outstanding | −0.4% | +0.5% | −0.1% | +13.3% | +2.8% | +45.4% | −19.2% | 0.0% | +1.1% | −8.0% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | −9.2% | 12.7% | 6.4% | 15.2% | 16.7% | 4.5% | — | — | — | — |
| Return on invested capital (ROIC) | −2.1% | 8.9% | 5.1% | 10.4% | 8.1% | 9.6% | 9.3% | 8.2% | −6.4% | 0.9% |
| Return on assets (ROA) | −4.4% | 5.7% | 2.4% | 5.0% | 4.8% | 1.2% | 0.4% | −0.9% | −1.9% | −3.7% |
| Return on tangible assets | −14.7% | 22.1% | 9.2% | 18.7% | 16.8% | 3.9% | 1.4% | −3.4% | −4.3% | −8.3% |
| Free cash flow margin | 7.6% | 10.2% | 10.4% | 14.5% | 11.4% | 13.6% | 5.0% | 2.8% | −15.4% | 6.2% |
| Income quality (OCF / net income) | — | 1.18 | 2.71 | 1.23 | 1.67 | 7.97 | 9.37 | — | — | — |
| Financial health | ||||||||||
| Total debt | $3.95B | $4.06B | $5.54B | $6.29B | $7.02B | $4.89B | $5.12B | $6.92B | $7.12B | $1.30B |
| Cash & short-term investments | $365.4M | $261.9M | $262.9M | $372.9M | $301.7M | $286.6M | $186.7M | $184.7M | $185.4M | $62.9M |
| Net debt | $3.58B | $3.79B | $5.27B | $5.91B | $6.72B | $4.61B | $4.93B | $6.74B | $6.93B | $1.23B |
| Debt / equity | 0.71 | 0.68 | 1.05 | 1.29 | 1.67 | 1.83 | 2.08 | — | — | — |
| Debt / assets | 0.33 | 0.33 | 0.43 | 0.47 | 0.51 | 0.49 | 0.52 | 0.70 | 0.68 | 1.14 |
| Net debt / EBITDA | 25.82 | 2.57 | 4.80 | 3.85 | 4.98 | 6.02 | 5.61 | 8.27 | — | 17.62 |
| Current ratio | 1.78 | 1.07 | 1.61 | 1.60 | 1.71 | 1.80 | 1.88 | 1.73 | 1.66 | 2.15 |
| Quick ratio | 1.18 | 0.70 | 1.05 | 1.05 | 1.11 | 1.20 | 1.22 | 1.12 | 1.03 | 1.25 |
| Interest coverage | -1.4 | 5.0 | 2.4 | 4.3 | 4.5 | 2.3 | 1.3 | 0.8 | -1.0 | 0.1 |
| Working capital | $1.07B | $139.1M | $904.6M | $999.1M | $1.03B | $988.2M | $947.0M | $803.4M | $729.5M | $156.1M |
| Invested capital | $9.15B | $9.75B | $10.53B | $10.77B | $10.92B | $7.28B | $7.39B | $3.69B | $4.31B | $858.3M |
| Tangible asset value | −$2.62B | −$2.94B | −$4.24B | −$4.93B | −$6.28B | −$4.23B | −$4.53B | −$10.40B | −$10.46B | −$1.14B |
| Net current asset value | −$3.78B | −$4.01B | −$5.34B | −$5.95B | −$7.22B | −$5.00B | −$5.29B | −$11.06B | −$11.23B | −$1.35B |
| Graham number | — | $14.32 | $9.08 | $12.75 | $12.26 | $4.54 | $3.61 | — | — | — |
| Graham net-net per share | −$6.84 | −$6.97 | −$9.11 | −$10.11 | −$13.42 | −$9.84 | −$15.02 | −$23.65 | −$23.92 | −$2.96 |
| Capital allocation | ||||||||||
| Dividends paid | — | $0 | $18.3M | $32.4M | $64.6M | $64.6M | $31.3M | $31.3M | $1.70B | $158.7M |
| Share buybacks (net) | $80.7M | $8.6M | $13.7M | $13.2M | $25.8M | $16.2M | $2.63B | — | $0 | $702.2M |
| Dividend payout ratio | — | 0.0% | 5.7% | 4.7% | 11.3% | 55.4% | 82.8% | — | — | — |
| Dividends + buybacks / free cash flow | 16.3% | 1.2% | 4.4% | 6.4% | 10.7% | 9.3% | 880.4% | 19.2% | — | — |
| Capex / revenue | 2.0% | 2.2% | 2.1% | 2.7% | 1.5% | 1.0% | 0.9% | 0.6% | 2.0% | 4.3% |
| Capex / operating cash flow | 20.6% | 17.7% | 16.8% | 15.8% | 11.7% | 6.6% | 14.6% | 18.8% | — | 41.0% |
| Capex / depreciation | 0.31 | 0.37 | 0.36 | 0.33 | 0.29 | 0.16 | 0.13 | 0.09 | 0.25 | 0.50 |
| Stock-based compensation / revenue | 0.7% | 0.7% | 0.6% | 0.9% | 0.7% | 0.7% | 1.1% | 0.3% | 3.9% | 14.3% |
| R&D / revenue | — | — | — | — | — | — | — | — | — | 2.8% |
| SG&A / revenue | 24.4% | 24.2% | 21.6% | 30.0% | 20.7% | 21.5% | 22.7% | 24.0% | 51.6% | 44.8% |
| Efficiency | ||||||||||
| Days sales outstanding | 58.7 | 58.8 | 62.0 | 90.7 | 57.7 | 60.0 | 58.0 | 56.2 | 140.9 | 46.4 |
| Days of inventory on hand | 64.1 | 63.2 | 69.0 | 141.3 | 60.2 | 61.4 | 61.2 | 61.6 | 183.1 | 120.0 |
| Days payables outstanding | 58.1 | 52.2 | 54.9 | 119.7 | 53.6 | 52.4 | 49.5 | 49.6 | 132.2 | 47.1 |
| Cash conversion cycle (days) | 64.8 | 69.8 | 76.2 | 112.3 | 64.3 | 69.0 | 69.7 | 68.2 | 191.8 | 119.3 |
| Receivables turnover | 6.21 | 6.21 | 5.88 | 4.02 | 6.33 | 6.08 | 6.29 | 6.49 | 2.59 | 7.86 |
| Payables turnover | 6.28 | 6.99 | 6.65 | 3.05 | 6.81 | 6.96 | 7.37 | 7.36 | 2.76 | 7.74 |
| Inventory turnover | 5.70 | 5.78 | 5.29 | 2.58 | 6.06 | 5.95 | 5.96 | 5.92 | 1.99 | 3.04 |
| Asset turnover | 0.55 | 0.54 | 0.53 | 0.36 | 0.62 | 0.65 | 0.61 | 0.58 | 0.22 | 0.61 |
| Average receivables | $1.05B | $1.09B | $1.18B | $1.22B | $1.17B | $1.05B | $960.0M | $903.1M | $481.4M | $87.9M |
| Average payables | $702.2M | $644.4M | $692.0M | $756.6M | $717.0M | $619.5M | $558.8M | $549.7M | $295.0M | $48.0M |
| Average inventory | $774.9M | $779.8M | $870.8M | $892.8M | $805.8M | $725.4M | $691.1M | $683.1M | $408.6M | $122.2M |
| Intangibles / total assets | 69.4% | 73.5% | 73.2% | 72.7% | 75.4% | 69.7% | 71.5% | 74.2% | 75.0% | 55.2% |
Computed from AVTR's annual financial statements (latest annual report filed February 11, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
AVTR valuation and financial ratios
Avantor earned a return on equity of −9.2% and a return on invested capital of −2.1% in fiscal 2025. It ended the year with $3.9 billion of debt and $365.4 million in cash and short-term investments, net debt of $3.6 billion. It returned $80.7 million to shareholders: $0 in dividends and $80.7 million in share buybacks, 16% of free cash flow. The share count rose 38.3% from 491.3M to 679.3M over 9 years.
See the AVTR income statement, the AVTR chart for price history, or the AVTR stock overview for the latest quote and news.
AVTR key metrics FAQ
What is Avantor's EV/EBITDA?
Avantor's enterprise value was 81.9 times EBITDA at the end of fiscal 2025 (enterprise value $11.4 billion, EBITDA $138.7 million); the current EV/EBITDA is 118.5.
What is Avantor's return on equity?
Avantor's return on equity (ROE) was −9.2% in fiscal 2025: net income of -$530.2 million on average shareholders' equity of $5.8 billion.
What is Avantor's ROIC?
Avantor's return on invested capital was −2.1% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Avantor have?
Avantor had total debt of $3.9 billion at the end of fiscal 2025, a debt-to-equity ratio of 0.71 and $3.6 billion of net debt (25.82 times EBITDA).
Does Avantor buy back its shares?
Yes. Avantor spent $80.7 million on net share repurchases in fiscal 2025 Shares outstanding changed −0.4% over the year, to 679.3M..
What is Avantor's free cash flow yield?
Avantor generated $495.0 million of free cash flow in fiscal 2025, a free cash flow yield of 6.4% on its market value at year-end ($7.8 billion).
What is Avantor's current ratio?
Avantor's current ratio was 1.78 at the end of fiscal 2025: current assets were 1.78 times current liabilities.