Avantor, Inc.
AVTR
Laboratory Analytical Instruments
Mkt Cap
$16.08BPE
61.84Debt
$5.66BCash
$259.2MEV
$21.48BFCF
$639MP/E Ratio
61.84Debt
$5.66BCash
$259.2MEV
$21.48BFCF
$639MCharts data: {"Earnings":[{"time":"2017-12-30","value":-414900000},{"time":"2018-12-30","value":-356400000},{"time":"2019-12-30","value":-335100000},{"time":"2020-12-30","value":52000000},{"time":"2021-12-30","value":508000000},{"time":"2022-12-30","value":662300000},{"time":"2023-12-30","value":321100000}],"Sales":[{"time":"2017-12-30","value":1247400000},{"time":"2018-12-30","value":5864300000},{"time":"2019-12-30","value":6040300000},{"time":"2020-12-30","value":6393600000},{"time":"2021-12-30","value":7386100000},{"time":"2022-12-30","value":7512400000},{"time":"2023-12-30","value":6967200000}],"Net Margins":[{"time":"2017-12-30","value":-0.33261183261183264},{"time":"2018-12-30","value":-0.06077451699265044},{"time":"2019-12-30","value":-0.05547737695147592},{"time":"2020-12-30","value":0.008133133133133134},{"time":"2021-12-30","value":0.06877783945519286},{"time":"2022-12-30","value":0.08816090729993079},{"time":"2023-12-30","value":0.04608738087036399}],"Assets":[{"time":"2018-12-30","value":9911600000},{"time":"2019-12-30","value":9773300000},{"time":"2020-12-30","value":9906500000},{"time":"2021-12-30","value":13897200000},{"time":"2022-12-30","value":13464300000},{"time":"2023-12-30","value":12972700000}],"Stockholders Equity":[{"time":"2017-12-30","value":-2620200000},{"time":"2018-12-30","value":-3051700000},{"time":"2019-12-30","value":2462200000},{"time":"2020-12-30","value":2674300000},{"time":"2021-12-30","value":4197000000},{"time":"2022-12-30","value":4855400000},{"time":"2023-12-30","value":5252600000}],"ROE":[{"time":"2017-12-30","value":0.15834669109228303},{"time":"2018-12-30","value":0.11678736441983156},{"time":"2019-12-30","value":-0.13609779871659491},{"time":"2020-12-30","value":0.019444340575103764},{"time":"2021-12-30","value":0.12103883726471289},{"time":"2022-12-30","value":0.13640482761461464},{"time":"2023-12-30","value":0.06113163004988006}],"ROA":[{"time":"2018-12-30","value":0.04171879414019936},{"time":"2019-12-30","value":0.056459946998454975},{"time":"2020-12-30","value":0.07134709534144248},{"time":"2021-12-30","value":0.06995653800765622},{"time":"2022-12-30","value":0.08394049449284403},{"time":"2023-12-30","value":0.053681962891302504}]}
Avantor, Inc. engages in the provision of mission-critical 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. Further, it provides logistics, chemical and equipment tracking, and glassware autoclaving, as well as scientific research support services, such as DNA extraction, bioreactor servicing, clinical and biorepository, and compound management services. Avantor, Inc. was founded in 1904 and is headquartered in Radnor, Pennsylvania.
DCF
Discounted Cash Flow Valuation of Avantor, Inc.
Value
Growth
%
%
Discount
%
%
Multiple
| g\r | +10% | +11% | +12% | +13% | +14% |
|---|---|---|---|---|---|
| 0% | 10 | 9 | 8 | 8 | 7 |
| +1% | 11 | 10 | 9 | 8 | 8 |
| +2% | 13 | 11 | 10 | 9 | 8 |
| +3% | 14 | 13 | 11 | 10 | 9 |
| +4% | 17 | 14 | 12 | 11 | 10 |
| Years | 0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | TV |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FCF | $639M | $798.2M | $979.4M | $1.18B | $1.396B | $1.62B | $1.844B | $2.059B | $2.253B | $2.415B | $2.536B | $25.36B |
| DCF | $694.1M | $740.6M | $775.9M | $798M | $805.4M | $797.3M | $774M | $736.5M | $686.6M | $626.9M | $6.269B | |
| Value | $13.7B | |||||||||||
In the chart Earnings are multiplied by this value.
Earnings Growth 48%
Earnings Stability -36%
Competitiveness and MOAT
High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.
| Years | 12-2017 | 12-2018 | 12-2019 | 12-2020 | 12-2021 | 12-2022 | 12-2023 | TTM |
|---|---|---|---|---|---|---|---|---|
| Net Margin | -33% | -6.1% | -5.5% | 0.81% | 6.9% | 8.8% | 4.6% | 3.8% |
| ROA | - | 4.2% | 5.6% | 7.1% | 7% | 8.4% | 5.4% | 4.8% |
| ROE | 16% | 12% | -14% | 1.9% | 12% | 14% | 6.1% | 4.9% |
What is the average Net Margin?
The average Net Margin over the past 5 years is +1.58%.
What is the trend of Net Margin?
The trend of Net Margin over the past 5 years is +2.93%.
What is the average Return on Assets (ROA)?
The average ROA over the past 5 years is +6.29%.
What is the trend of Return on Assets (ROA)?
The trend of ROA over the past 5 years is +0.4%.
What is the average Return on Equity (ROE)?
The average ROE over the past 5 years is +5.31%.
What is the trend of Return on Equity (ROE)?
The trend of ROE over the past 5 years is +1.83%.
Safety & Stabiliy
Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.
| Years | 12-2017 | 12-2018 | 12-2019 | 12-2020 | 12-2021 | 12-2022 | 12-2023 | TTM | ||
|---|---|---|---|---|---|---|---|---|---|---|
| Debt FCF | - | 44.87 | 17.67 | 5.76 | 8.50 | 9.45 | 8.07 | 8.86 | ||
| Debt Equity | - | -2.39 | 2.17 | 1.87 | 1.71 | 1.38 | 1.11 | 1.06 | ||
| MIN | ||||||||||
| Graham Stability | - | - | - | - | - | 100% | 79% | 79% | ||
What is the Debt/FCF?
The Debt/FCF trailing twelve month is 8.86.
What is the trend of Debt/FCF?
The trend of Debt/FCF over the past 5 years is -5.88.
What is the Graham’s Stability?
Graham’s Stability measure stands at 0.79.
Growth
Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.
| Years | 12-2018 | 12-2020 | 12-2022 | Trend |
|---|---|---|---|---|
| Revenue | 3.5% | 2.9% | -7.3% | -54% |
| Net Income | - | 83% | -52% | -460% |
| Stockholders Equity | - | 25% | 8.2% | -4.3% |
| FCF | 35% | -5.9% | 1.9% | -37% |
What is the 5 year Revenue CAGR?
The Revenue CAGR over the past 5 years is +3.51%.
What is the trend of Revenue growth?
The trend of Revenue growth rate over the past 5 years is -53.75%.
What is the 5 year Earnings CAGR?
The Earnings CAGR over the past 5 years is -.
What is the trend of Earnings growth?
The trend of Earnings growth rate over the past 5 years is -464.22%.
What is the 5 year Equity CAGR?
The Equity CAGR over the past 5 years is -.
What is the trend of Equity growth?
The trend of Equity growth rate over the past 5 years is -4.26%.
What is the 5 year FCF CAGR?
The FCF CAGR over the past 5 years is +34.76%.
What is the trend of FCF growth?
The trend of FCF growth rate over the past 5 years is -37.05%.