# Avantor, Inc. (AVTR) — Stock CV

Avantor, Inc. is a $10.6B technology company. Revenue shrank 1.6% over the last year, it currently loses money, and its net debt equals ~7.8 years of free cash flow.

> Avantor Inc provides products and services to customers in the biopharma, healthcare, education & government, and advanced technologies & applied materials industries. The company operates through two segments: Laboratory Solutions and Bioscience Production.

## Identity

- **Ticker**: AVTR
- **Sector**: Technology
- **Industry**: Laboratory Analytical Instruments
- **Headquarters**: RADNOR, PA
- **Employees**: 13 500
- **Website**: https://www.avantorsciences.com
- **Market cap**: $10.6B
- **Last price**: $15.67
- **Financial profile**: Strained

## Vitals (TTM)

- **Revenue**: $6.56B
- **Net income**: -$578M
- **Free cash flow**: $455M
- **Net debt**: $3.55B
- **P/E**: 20.8
- **Revenue growth (YoY)**: -1.6%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 62 |
| Growth | 12 |
| Profitability | 0 |
| Health | 23 |
| Quality | 55 |
| Moat | 38 |

## Qualifications (beginner checklist) — 4 of 10 passed

- [ ] Revenue growing — -1.6% YoY
- [ ] Profitable — -$578M TTM
- [ ] Profit growing — -174.5% YoY
- [x] Generates cash — $455M TTM
- [ ] Debt under control — ~7.8y of cash flow to repay
- [x] Established company — $10.6B market cap
- [ ] Not printing shares — +16.7% shares over ~5y
- [x] Proven track record — 6/7 profitable years
- [ ] Financially stable — health score 28/100
- [x] Valuation not extreme — P/E 20.8

## Experience (career milestones)

- **FY2024** — Best year on record: $712M net income
- **2021** — Avantor acquired China-based RIM Bio, a manufacturer of single-use bioprocess bags and assemblies for…
- **FY2019** — First recorded profitable year: $37.8M net income
- **FY2019** — Revenue already above $1B: $6.04B in first reported year
- **FY2019** — Positive free cash flow every year since: 7-year streak
- **2019** — Avantor went public with a $3.8 billion initial public offering
- **2017** — Avantor acquired chemical blending business Puritan Products Inc
- **2016** — Avantor merged with Nusil Technology
- **2010** — Investment firm New Mountain Capital purchased Mallinckrodt Baker Inc
- **2010** — Baker, the company changed its name to Avantor in 2010
- **1935** — The company was acquired by Vick Chemical Company in 1941

## Strengths

- None stand out in the data.

## Watch-outs

- Revenue shrinking 1.6% year over year
- Not profitable — 8.8% net margin
- Thin interest coverage (-1.5×)
- Loss-making in 1 of the recent years
- Net debt equals ~7.8 years of free cash flow

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $7.39B | $508M | $843M |
| FY2022 | $7.51B | $687M | $710M |
| FY2023 | $6.97B | $321M | $724M |
| FY2024 | $6.78B | $712M | $692M |
| FY2025 | $6.55B | -$530M | $495M |

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Source: https://stockcv.com/AVTR — derived from company filings; may be delayed or incomplete. Information, not investment advice.