AVTR · NYSEHealthcare — Life Sciences Tools & Services
The economic chain
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Raw inputs
Equipment
Foundry
Chip design
Software
AI demand
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Company details
Market cap
~$8B
P/E (fwd)
~14×
Div yield
0%
EPS (2025)
-$0.78
Adj EBITDA margin
16%
Rev. growth
-3.4%
Revenue
$6.55B
Free cash flow
$496M
Net leverage
3.2×
In plain English
Avantor is the picks-and-shovels supplier to the life-science economy — it both makes proprietary chemistries, silicones and single-use bioprocessing gear (J.T.Baker, NuSil, Masterflex) and, through its VWR distribution arm, resells millions of other makers' lab products to ~300,000 customer locations in ~180 countries. Roughly 85% of its ~$6.55B revenue is recurring consumables, but demand tracks biopharma and lab-research budgets, which softened in 2024-2025.
In simple terms
A supplier to the suppliers
Avantor sits one step behind the medicines: it makes proprietary chemistries, silicones and single-use bioprocessing gear, and through VWR resells millions of other makers' lab products. Its customers are the drugmakers, universities, hospitals and fabs doing the science.
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