Avantor, Inc.

Industrials
Biotechnology: Laboratory Analytical Instruments
www.avantorsciences.com

Earnings Score
Moat Score
Safety Score

Market Cap $15.10B
PE 49
Debt $5.18B
Cash $310.30M
EV $19.97B
FCF $747.20M

Earnings

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Sales & Net Margins

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Earnings	$309.60M
EBIT	$630.00M
ROE	6%
ROA	5%
FCF	$747.20M
Equity	$5.55B
Growth Stability	79%
PE	48.76
PEG	1.45
PB	2.72
P/FCF	20.21
P/S	2.21
Price/Cash	0.02
Debt/Equity	0.93
Debt/FCF	6.93
Net Margins	4%
Gross Margins	34%
Op. Margins	9%
Earnings CAGR	23%
Sales Growth YoY	-0%
Sales Growth QoQ	1%
Sales CAGR	4%
FCF CAGR	20%
Equity CAGR	21%
Earnings Stability	-0.2
Earnings Growth YoY	-47%
Earnings Growth QoQ	-38%

Earnings CAGR 5Y	34%
Sales CAGR 5Y	3%
FCF CAGR 5Y	7%
Equity CAGR 5Y	22%
Earnings CAGR 3Y	-4%
Sales CAGR 3Y	-4%
FCF CAGR 3Y	-7%
Equity CAGR 3Y	10%
Market Cap	$15.10B
Revenue	$6.82B
Assets	$12.84B
Total Debt	$5.18B
Cash	$310.30M
Shares Outstanding	679.3M
EV	19.97B
Earnings Score	6%
Moat Score	68%
Safety Score	78%
Final Score	51%
Working Capital	874.9M
Current Ratio	1.54
Gross Profit	$2.29B
Shares Growth 3y	5%
Equity Growth QoQ	2%
Equity Growth YoY	9%

Assets & ROA

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Stockholders Equity & ROE

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Avantor Inc is involved in providing products and services to biopharma, healthcare, education and government, and advanced technologies and applied materials industries. The company's offerings include materials and consumables, equipment and instrumentation and services and specialty procurement. Its brand profile consists of NuSil, RANKEM, POCH, BeneSphera, and Macron Fine Chemicals among others. The firm operates in three geographical segments namely Americas, Europe, and AMEA. It generates a majority of its revenue from the Americas.

SEC Filings

Direct access to Avantor, Inc. (AVTR) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Avantor, Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Avantor, Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 23%

Stability -20%

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Avantor, Inc. Discounted Cash Flow

Fully customizable DCF calculator online for Avantor, Inc..

Years

Calculation mode

= $31B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$747M	$900M	$1.1B	$1.3B	$1.6B	$1.9B	$2.3B	$2.7B	$3.3B	$4B	$4.8B	$48B
DCF		$818M	$896M	$981M	$1.1B	$1.2B	$1.3B	$1.4B	$1.5B	$1.7B	$1.9B	$19B
Value	$31B

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 Margins	-33%	-6%	-6%	1%	7%	9%	5%	4%
ROA	-	4%	6%	7%	7%	8%	5%	5%
ROE	-	12%	-14%	2%	12%	14%	6%	6%

Bad Net Margins (4.14%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

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 over FCF	-	44.87	17.67	5.76	8.5	9.45	8.07	6.93
Debt over Equity	-	-2.39	2.17	1.87	1.71	1.38	1.11	0.93
Growth Stability	-	-	-	-	-	100%	79%	79%

Bad Debt/FCF ratio (6.93)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Good Debt/Equity ratio (0.93)

The company is not overleveraged and has a good balance between equity and debt.

Bad Graham’s Stability (79%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

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	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	370%	3%	6%	16%	2%	-7%	3%
Earnings YoY growth	-	-14%	-6%	-116%	877%	30%	-52%	34%
Equity YoY growth	-	16%	-181%	9%	57%	16%	8%	22%
FCF YoY growth	-	-184%	86%	187%	-3%	-16%	2%	7%