Avantor Inc Stock Research

Market Summary

USD21.14+0.62

Market Closed

3.02%

AVTR Alerts

1 major insider sales recently.
Big jump in Earnings (Y/Y)

AVTR Stock Price

AVTR RSI Chart

AVTR Valuation

Market Cap

14.3B

Price/Earnings (Trailing)

20.76

Price/Sales (Trailing)

1.9

EV/EBITDA

9.12

Price/Free Cashflow

20.07

AVTR Price/Sales (Trailing)

AVTR Profitability

EBT Margin

11.33%

Return on Equity

14.14%

Return on Assets

5.1%

Free Cashflow Yield

4.98%

AVTR Fundamentals

AVTR Revenue

Revenue (TTM)

7.5B

Revenue Y/Y

-5.9%

Revenue Q/Q

-3.31%

AVTR Earnings

Earnings (TTM)

686.5M

Earnings Y/Y

50.74%

Earnings Q/Q

-15.15%

Price Action

52 Week Range

17.9135.22

(Low)(High)

Last 7 days

-9.5%

Last 30 days

-15.0%

Last 90 days

-3.8%

Trailing 12 Months

-40.5%

AVTR Financial Health

Current Ratio

1.6

Debt/Equity

1.57

Debt/Cashflow

0.13

AVTR Investor Care

Shares Dilution (1Y)

10.60%

Diluted EPS (TTM)

1.01

Peers (Alternatives to Avantor)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
A	40.4B	6.8B	-13.31%	3.22%	32.19	5.89	8.37%	3.64%
ILMN	35.5B	4.6B	5.65%	-27.02%	-8.07	7.75	1.28%	-677.95%
MTD	32.5B	3.9B	-7.42%	9.05%	37.3	8.3	5.43%	13.46%
WAT	18.2B	3.0B	-10.97%	-4.88%	25.66	6.11	6.68%	2.15%
PKI	15.9B	3.3B	-11.65%	-27.44%	27.98	4.81	-34.64%	-39.65%
MID-CAP
SMALL-CAP
PACB	2.0B	128.3M	-11.70%	-1.09%	-6.37	15.61	-1.69%	-73.40%
ADPT	1.2B	185.3M	-5.41%	-23.53%	-6	6.49	20.06%	3.42%
QTRX	450.3M	105.5M	-12.44%	-50.56%	-4.66	4.27	-4.55%	-67.63%
NSTG	405.5M	127.3M	-23.43%	-69.17%	-2.54	3.19	-12.28%	-38.43%
BNGO	341.8M	27.8M	-23.57%	-31.43%	-2.58	12.29	54.62%	-83.06%
CDXS	271.1M	138.6M	-29.13%	-76.08%	-8.07	1.96	32.30%	-57.86%
PSNL	135.5M	65.0M	-20.46%	-63.49%	-1.2	2.08	-23.92%	-73.73%
HBIO	117.4M	113.3M	-15.92%	-55.18%	-12.34	1.04	-4.68%	-3204.17%
CSBR	54.2M	54.1M	-0.24%	-45.98%	502.17	1	21.80%	-72.38%

Financials for Avantor

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	-1.5%	7,512	7,625	7,603	7,551	7,386
Gross Profit	-1.3%	2,603	2,636	2,601	2,580	2,503
S&GA Expenses	-4.6%	1,473	1,543	1,547	1,567	1,531
EBITDA	2.7%	1,522	1,482	1,447	1,419	-
EBITDA Margin	4.3%	0.20*	0.19*	0.19*	0.19*	-
Earnings Before Taxes	4.3%	851	816	795	783	753
EBT Margin	5.8%	0.11*	0.11*	0.10*	0.10*	-
Interest Expenses	3.5%	266	257	244	231	217
Net Income	7.5%	687	639	629	599	573
Net Income Margin	9.1%	0.09*	0.08*	0.08*	0.08*	-
Free Cahsflow	-11.1%	710	799	809	858	-

Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	2.7%	13,464	13,113	13,431	13,836	13,897
Current Assets	3.8%	2,658	2,560	2,572	2,606	2,477
Cash Equivalents	40.4%	373	266	238	284	302
Inventory	0.9%	914	905	923	896	872
Net PPE	4.1%	727	698	698	700	706
Goodwill	2.6%	5,653	5,511	5,626	5,265	5,341
Liabilities	1.0%	8,609	8,522	8,961	9,478	9,700
Current Liabilities	6.9%	1,659	1,552	1,571	1,447	1,451
Long Term Debt	-	7,023	-	-	-	-
LT Debt, Current	29.8%	364	281	246	45.00	45.00
LT Debt, Non Current	0.3%	5,923	5,908	6,293	6,816	6,978
Shareholder's Equity	5.7%	4,855	4,591	4,470	4,358	4,197
Retained Earnings	13.8%	1,170	1,029	862	674	484
Accumulated Depreciation	6.1%	518	489	474	463	445
Shares Outstanding	0.0%	674	674	674	610	610
Float	-	20,730	-	-	-	-

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	-10.2%	844	939	943	979	954
Share Based Compensation	-7.5%	46.00	50.00	51.00	50.00	51.00
Cashflow From Investing	96.3%	-109	-2,960	-2,998	-4,146	-4,121
Cashflow From Financing	-172.6%	-648	894	2,094	3,313	3,219

Risks for AVTR

What is the probability of a big loss on AVTR?

66.8%

Probability that Avantor stock will be more than 20% underwater in next one year

49.0%

Probability that Avantor stock will be more than 30% underwater in next one year.

38.6%

Probability that Avantor stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does AVTR drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Avantor was unfortunately bought at previous high price.

Drawdowns

Returns for AVTR

Cumulative Returns on AVTR

20.2%

3-Year Cumulative Returns

Which funds bought or sold AVTR recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	added	18.45	1,765,930	8,200,930	0.01%
2023-03-06	NORTH STAR ASSET MANAGEMENT INC	added	5.36	472,194	4,001,190	0.25%
2023-03-06	Rockefeller Capital Management L.P.	added	11.76	81,000	483,000	-%
2023-02-28	Voya Investment Management LLC	reduced	-2.98	4,679,250	111,065,000	0.16%
2023-02-24	NATIXIS	new	-	14,172	14,172	-%
2023-02-24	National Pension Service	added	16.47	4,610,260	25,956,800	0.05%
2023-02-24	SRS Capital Advisors, Inc.	unchanged	-	1,102	10,102	-%
2023-02-22	TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY	unchanged	-	667,000	9,447,000	0.10%
2023-02-21	NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO	reduced	-57.52	-65,745	55,255	-%
2023-02-21	MACQUARIE GROUP LTD	reduced	-18.99	-554,234	3,767,770	-%

Latest Funds Activity

Are funds buying AVTR calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own AVTR

No. of Funds

Avantor News

Schedule 13G FIlings of Avantor

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 14, 2023	t. rowe price investment management, inc.	11.3%	76,325,881	SC 13G/A
Feb 14, 2023	price t rowe associates inc /md/	5.8%	38,913,266	SC 13G/A
Feb 09, 2023	vanguard group inc	9.16%	61,754,847	SC 13G/A
Feb 01, 2023	blackrock inc.	5.8%	39,358,674	SC 13G/A
Nov 10, 2022	t. rowe price investment management, inc.	10.2%	69,067,643	SC 13G
Mar 11, 2022	blackrock inc.	7.1%	43,769,070	SC 13G/A
Feb 14, 2022	price t rowe associates inc /md/	12.2%	74,859,221	SC 13G/A
Feb 09, 2022	vanguard group inc	8.26%	50,319,888	SC 13G/A
Feb 08, 2022	blackrock inc.	7.1%	43,769,070	SC 13G
Jan 31, 2022	invesco ltd.	4.2%	25,419,453	SC 13G/A

AVTR Fair Value

Avantor fair value in different scenarios

The table shows the Fair Value estimates for Avantor for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	10.37 -50.95%	14.15 -33.07%	18.48 -12.58%	23.80 12.58%	28.96 36.99%
Current Inflation	9.66 -54.30%	12.91 -38.93%	16.54 -21.76%	21.00 -0.66%	25.33 19.82%
Very High Inflation	8.77 -58.51%	11.41 -46.03%	14.24 -32.64%	17.73 -16.13%	21.13 -0.05%

Historical Avantor Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Avantor

View All Filings

Date Filed	Form Type	Document
Mar 06, 2023	4	Insider Trading
Mar 01, 2023	4	Insider Trading
Mar 01, 2023	4	Insider Trading
Feb 27, 2023	4	Insider Trading
Feb 27, 2023	4	Insider Trading
Feb 27, 2023	4	Insider Trading
Feb 27, 2023	4	Insider Trading
Feb 27, 2023	4	Insider Trading
Feb 27, 2023	4	Insider Trading
Feb 27, 2023	4	Insider Trading

Latest Insider Trading transactions for AVTR

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-03-03	Brophy Gerard	sold	-97,850	25.00	-3,914	evp, biopharma production
2023-02-28	Couturier Christophe	sold	-56,519	24.32	-2,324	evp, amea
2023-02-27	Brophy Gerard	sold	-76,475	25.00	-3,059	evp, biopharma production
2023-02-25	Eck Steven W	sold (taxes)	-12,433	24.62	-505	svp & chief accounting officer
2023-02-25	Couturier Christophe	sold (taxes)	-11,497	24.62	-467	evp, amea
2023-02-25	Brophy Gerard	sold (taxes)	-50,224	24.62	-2,040	evp, biopharma production
2023-02-25	Szlosek Thomas A	sold (taxes)	-50,224	24.62	-2,040	evp & cfo
2023-02-25	Henson Meghan	sold (taxes)	-19,696	24.62	-800	evp, chief hr officer
2023-02-25	Miller Justin	sold (taxes)	-13,787	24.62	-560	evp & general counsel
2023-02-25	Bramwell James	sold (taxes)	-12,580	24.62	-511	evp, americas

About Avantor

Michael Stubblefield

www.avantorinc.com

13500

Avantor, Inc. provides 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. Avantor, Inc. was founded in 1904 and is headquartered in Radnor, Pennsylvania.

AVTR Income Statement

2022-12-31

Consolidated statements of operations - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statements of operations
Net sales	$ 7,512.4	$ 7,386.1	$ 6,393.6
Cost of sales	4,909.6	4,883.4	4,313.1
Gross profit	2,602.8	2,502.7	2,080.5
Selling, general and administrative expenses	1,472.6	1,530.5	1,373.7
Operating income	1,130.2	972.2	706.8
Interest expense	(265.8)	(217.4)	(307.6)
Loss on extinguishment of debt	(12.5)	(12.4)	(346.8)
Other (expense) income, net	(0.8)	10.6	9.9
Income before income taxes	851.1	753.0	62.3
Income tax (expense) benefit	(164.6)	(180.4)	54.3
Net income	686.5	572.6	116.6
Accumulation of yield on preferred stock	(24.2)	(64.6)	(64.6)
Net income available to common stockholders	$ 662.3	$ 508.0	$ 52.0
Earnings per share:
Basic	$ 1.02	$ 0.86	$ 0.09
Diluted	$ 1.01	$ 0.85	$ 0.09
Weighted average shares outstanding:
Basic	650.9	590.5	576.3
Diluted	679.4	599.6	583.4

AVTR Balance Sheet

2022-12-31

Consolidated balance sheets - USD ($) shares in Millions, $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Assets
Cash and cash equivalents	$ 372.9	$ 301.7
Accounts receivable, net of allowances of $28.2 and $26.4	1,218.4	1,222.1
Inventory	913.5	872.0
Other current assets	153.1	81.4
Total current assets	2,657.9	2,477.2
Property, plant and equipment, net of accumulated depreciation of $518.4 and $445.2	727.0	705.5
Other intangible assets, net (see note 11)	4,133.3	5,140.3
Goodwill	5,652.6	5,341.1
Other assets	293.5	233.1
Total assets	13,464.3	13,897.2
Liabilities and stockholders’ equity
Current portion of debt	364.2	45.2
Accounts payable	758.2	755.1
Employee-related liabilities	122.4	199.7
Accrued interest	49.9	49.8
Other current liabilities	364.1	401.0
Total current liabilities	1,658.8	1,450.8
Debt, net of current portion	5,923.3	6,978.0
Deferred income tax liabilities	731.4	913.0
Other liabilities	295.4	358.4
Total liabilities	8,608.9	9,700.2
Commitments and contingencies (see note 13)
MCPS including paid-in capital, 0.0 and 20.7 shares outstanding	0.0	1,003.7
Common stock including paid-in capital, 674.3 and 609.7 shares outstanding	3,785.3	2,752.6
Accumulated earnings	1,170.4	483.9
Accumulated other comprehensive loss	(100.3)	(43.2)
Total stockholders’ equity	4,855.4	4,197.0
Total liabilities and stockholders’ equity	$ 13,464.3	$ 13,897.2
Preferred equity, shares outstanding	0.0	20.7