Avantor, Inc. income statement
In fiscal 2025, Avantor, Inc. reported revenue of $6.55bn, down 3.4% on the year before, operating income of −$246m (a -3.8% margin) and net income of −$530m, or −$0.78 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMSept 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1,247 | 5,864 | 6,040 | 6,394 | 7,386 | 7,512 | 6,967 | 6,784 | 6,552 | 6,636 |
| Cost of revenue | 815 | 4,045 | 4,120 | 4,313 | 4,883 | 4,910 | 4,603 | 4,504 | 4,413 | 4,539 |
| Gross profit | 433 | 1,820 | 1,921 | 2,081 | 2,503 | 2,603 | 2,364 | 2,279 | 2,139 | 2,096 |
| Selling, general and administrative | 450 | 1,405 | 1,369 | 1,374 | 1,531 | 1,473 | 1,507 | 1,641 | 1,596 | 1,604 |
| Operating income | −210 | 414 | 552 | 707 | 972 | 1,130 | 696 | 1,085 | −246 | 487 |
| Interest expense | 201 | 524 | 440 | 308 | 217 | 266 | 285 | 219 | 170 | 162 |
| Income before tax | −460 | −114 | 41 | 62 | 753 | 851 | 411 | 854 | −441 | 316 |
| Income tax | −315 | −27 | 3 | −54 | 180 | 165 | 89 | 142 | 89 | −22 |
| Net income | −113 | −87 | 38 | 117 | 573 | 687 | 321 | 712 | −530 | 337 |
| Diluted EPS | −$0.92 | −$0.90 | −$0.84 | $0.09 | $0.85 | $1.01 | $0.47 | $1.04 | −$0.78 | $0.50 |
| Diluted shares (average) | 453m | 398m | 401m | 583m | 600m | 679m | 678m | 682m | 681m | 678m |
| EBITDA | −111 | 818 | 951 | 1,102 | 1,351 | 1,536 | 1,099 | 1,490 | 164 | 906 |
| Quarter | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 | 2026 Q3Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,687 | 1,581 | 1,683 | 1,624 | 1,664 | 1,581 | 1,692 | 1,698 |
| Cost of revenue | 1,124 | 1,047 | 1,129 | 1,097 | 1,140 | 1,081 | 1,155 | 1,164 |
| Gross profit | 563 | 535 | 554 | 527 | 524 | 501 | 537 | 535 |
| Selling, general and administrative | 371 | 388 | 425 | 390 | 392 | 401 | 415 | 395 |
| Operating income | 638 | 147 | 129 | −649 | 126 | 100 | 122 | 140 |
| Interest expense | 45 | 42 | 43 | 44 | 40 | 43 | 39 | 40 |
| Income before tax | 584 | 86 | 82 | −690 | 81 | 56 | 81 | 98 |
| Income tax | 84 | 21 | 17 | 22 | 28 | 12 | 43 | −105 |
| Net income | 500 | 65 | 65 | −712 | 52 | 43 | 38 | 203 |
| Diluted EPS | $0.73 | $0.09 | $0.09 | −$1.04 | $0.08 | $0.06 | $0.06 | $0.30 |
| EBITDA | 739 | 247 | 232 | −544 | 230 | 205 | 227 | 245 |
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