Avantor, Inc.
AVTR · Laboratory Analytical Instruments · 682.8M shares · +5%/yr ↑ dilution · EDGAR filings ↗
Reference price $8.32 · est. market cap ~$5.7B — last insider purchase, 2026-05-08 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C60Lab/bioprocessing supplies franchise — net loss on charges but strong free cash flow, with leverage.
Strengths
- Strong free cash flow — FCF $495M (80th)
- Durable lab/bioprocessing franchise — per 10-K
Risks
- Net loss (impairments/charges) — net margin -8%, operating margin -4%
- Leverage — D/E 0.70 (78th)
- Bioprocessing-demand softness — per 10-K
Notable findings
- High convictionHigh conviction — notable institutional holders, insider buying, and a strong balance sheet
- Net lossNet loss (net margin -8.1%)
- Exec changeRecent 8-K item 5.02 8-K ↗
- Customer concentration~85% of revenue from one customer/distributor — More than 85% of our net sales were from product and service offerings that we consider to be recurring in nature
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Strong balance sheetStrong balance sheet — $365M cash & investments
- Insider buyingInsider buying — 5 open-market buy(s) by 4 insider(s) (cluster of 4 insiders, ~$3M, last 6mo) Form 4 ↗
- Notable holderHeld by 6 notable fund(s): STATE STREET CORP, FMR LLC, GOLDMAN SACHS GROUP INC +3 more (as of 2026-03-31)
- New fund positionNotable fund(s) opened this quarter: Bridgewater Associates, LP
- China exposureIn addition to the regulations described above, as part of our aerospace and military offerings, we are registered with the DDTC as a manufacturer and exporter of goods controlled by ITAR, and we are
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
32.7%
Operating margin
-3.8%
Net margin
-8.1%
Return on equity
-9.5%
Return on assets
-4.5%
ROIC
-2.1%
Revenue growth (QoQ)
-4.9%
Net-income growth
-174.5%
Debt / equity
0.7×
Net debt / EBITDA
21.6×
Current ratio
1.8×
Free cash flow
$495M
EBITDA
$164M
Tangible book value
-$2.5B
Cash & investments
$365M
Stock comp / revenue
0.7%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-21 | Walker Corey | Tax withheld | 3.0K | $9.58 |
| 2026-05-08 | LUCIER GREGORY T | Buy | 10K | $8.32 |
| 2026-05-07 | Dingemans Simon | Grant | 25K | — |
| 2026-05-07 | Massaro Joseph R | Grant | 25K | — |
| 2026-05-07 | MEHRA SANJEEV K | Grant | 25K | — |
| 2026-05-07 | SEVERINO MICHAEL | Grant | 25K | — |
| 2026-05-07 | Murthy Mala | Grant | 25K | — |
| 2026-05-07 | SUMME GREGORY L | Grant | 25K | — |
| 2026-05-07 | LUCIER GREGORY T | Grant | 25K | — |
| 2026-05-07 | Makin Louise | Grant | 25K | — |
| 2026-05-01 | Dingemans Simon | Buy | 25K | $8.14 |
| 2026-05-01 | Brellier Ludovic | Grant | 147K | — |
| 2026-04-03 | Eck Steven W | Grant | 32K | — |
| 2026-03-10 | MEHRA SANJEEV K | Buy | 125K | $8.01 |
| 2026-02-24 | Hankamer Brittany | Tax withheld | 359 | $9.11 |
| 2026-02-24 | Eck Steven W | Tax withheld | 452 | $9.11 |
| 2026-02-23 | Jones R. Brent | Tax withheld | 2.8K | $8.89 |
| 2026-02-23 | Gourdier Benoit | Tax withheld | 3.0K | $8.89 |
| 2026-02-23 | Eck Steven W | Tax withheld | 2.0K | $8.89 |
| 2026-02-23 | Sokenu Claudius | Tax withheld | 2.4K | $8.89 |
| 2026-02-23 | Hankamer Brittany | Tax withheld | 1.3K | $8.89 |
| 2026-02-20 | Jones R. Brent | Tax withheld | 9.5K | $9.03 |
| 2026-02-20 | Hankamer Brittany | Tax withheld | 1.5K | $9.03 |
| 2026-02-20 | Gourdier Benoit | Tax withheld | 4.2K | $9.03 |
| 2026-02-20 | Sokenu Claudius | Tax withheld | 2.9K | $9.03 |
| 2026-02-20 | Walker Corey | Tax withheld | 5.0K | $9.03 |
| 2026-02-20 | Eck Steven W | Tax withheld | 2.1K | $9.03 |
| 2026-02-19 | Ligner Emmanuel | Grant | 484K | — |
| 2026-02-19 | Hankamer Brittany | Grant | 81K | — |
| 2026-02-19 | LUCIER GREGORY T | Buy | 50K | $9.16 |
| 2026-02-19 | Blenn Mary | Grant | 236K | — |
| 2026-02-19 | Eck Steven W | Grant | 49K | — |
| 2026-02-19 | Walker Corey | Grant | 161K | — |
| 2026-02-19 | Sokenu Claudius | Grant | 81K | — |
| 2026-02-19 | Gourdier Benoit | Grant | 134K | — |
| 2026-02-19 | Jones R. Brent | Grant | 161K | — |
| 2026-02-12 | SUMME GREGORY L | Buy | 100K | $9.40 |
| 2026-01-02 | Dingemans Simon | Grant | 6.2K | — |
| 2025-12-05 | MEHRA SANJEEV K | Grant | 8.1K | — |
| 2025-12-05 | MEHRA SANJEEV K | Buy | 350K | $11.09 |
| 2025-11-17 | Ligner Emmanuel | Buy | 88K | $11.35 |
| 2025-11-10 | Blenn Mary | Grant | 17K | — |
| 2025-10-30 | SUMME GREGORY L | Buy | 100K | $11.25 |
| 2025-10-03 | LUCIER GREGORY T | Grant | 8.7K | — |
| 2025-10-02 | Gourdier Benoit | Tax withheld | 1.3K | $13.77 |
| 2025-08-21 | SUMME GREGORY L | Buy | 100K | $12.56 |
| 2025-08-18 | Ligner Emmanuel | Grant | 196K | — |
| 2025-08-14 | Hankamer Brittany | Tax withheld | 181 | $12.98 |
| 2025-08-08 | Couturier Christophe | Grant | 65K | — |
| 2025-08-05 | Eck Steven W | Sell | 3.5K | $11.39 |
| 2025-07-31 | Eck Steven W | Tax withheld | 1.4K | $13.44 |
| 2025-07-24 | Sokenu Claudius | Tax withheld | 3.1K | $14.01 |
| 2025-06-21 | Walker Corey | Tax withheld | 2.7K | $13.57 |
| 2025-05-23 | SUMME GREGORY L | Buy | 30K | $12.50 |
| 2025-05-22 | SUMME GREGORY L | Buy | 20K | $12.65 |
| 2025-05-21 | Stubblefield Michael | Gift | 76K | — |
| 2025-05-21 | Stubblefield Michael | Gift | 76K | — |
| 2025-05-09 | Walker Corey | Grant | 163K | — |
| 2025-05-09 | Couturier Christophe | Grant | 61K | — |
| 2025-05-09 | Jones R. Brent | Grant | 163K | — |
| 2025-05-09 | Hankamer Brittany | Grant | 122K | — |
| 2025-05-09 | Eck Steven W | Grant | 20K | — |
| 2025-05-09 | Gourdier Benoit | Grant | 163K | — |
| 2025-05-09 | Sokenu Claudius | Grant | 122K | — |
| 2025-05-08 | Andres Juan | Grant | 17K | — |
| 2025-05-08 | Carethers John | Grant | 17K | — |
| 2025-05-08 | SUMME GREGORY L | Grant | 17K | — |
| 2025-05-08 | Massaro Joseph R | Grant | 17K | — |
| 2025-05-08 | Peacock Jonathan M | Grant | 17K | — |
| 2025-05-08 | Kang Lan | Grant | 17K | — |
| 2025-05-08 | Murthy Mala | Grant | 17K | — |
| 2025-05-08 | Makin Louise | Grant | 17K | — |
| 2025-05-08 | SEVERINO MICHAEL | Grant | 17K | — |
| 2025-05-07 | SUMME GREGORY L | Buy | 25K | $12.00 |
| 2025-04-29 | Massaro Joseph R | Buy | 8.1K | $12.30 |
| 2025-04-28 | SUMME GREGORY L | Buy | 25K | $12.50 |
| 2025-04-28 | Kang Lan | Buy | 5.0K | $12.57 |
| 2025-04-28 | Peacock Jonathan M | Buy | 8.1K | $12.81 |
| 2025-04-05 | Couturier Christophe | Tax withheld | 569 | $15.13 |
| 2025-02-27 | Eck Steven W | Sell | 1.0K | $17.00 |
| 2025-02-27 | Bramwell James | Sell | 774 | $17.00 |
| 2025-02-26 | Eck Steven W | Sell | 4.9K | $17.53 |
| 2025-02-26 | Bramwell James | Sell | 3.8K | $17.53 |
| 2025-02-25 | Hankamer Brittany | Tax withheld | 369 | $17.56 |
| 2025-02-25 | Couturier Christophe | Tax withheld | 556 | $17.56 |
| 2025-02-25 | Stubblefield Michael | Tax withheld | 5.0K | $17.56 |
| 2025-02-25 | Eck Steven W | Tax withheld | 505 | $17.56 |
| 2025-02-25 | Bramwell James | Tax withheld | 583 | $17.56 |
| 2025-02-24 | Hankamer Brittany | Tax withheld | 437 | $17.47 |
| 2025-02-24 | Bramwell James | Tax withheld | 2.2K | $17.47 |
| 2025-02-24 | Stubblefield Michael | Tax withheld | 6.8K | $17.47 |
| 2025-02-24 | Couturier Christophe | Tax withheld | 750 | $17.47 |
| 2025-02-24 | Eck Steven W | Tax withheld | 439 | $17.47 |
| 2025-02-23 | Couturier Christophe | Tax withheld | 1.5K | $17.30 |
| 2025-02-23 | Gourdier Benoit | Tax withheld | 2.8K | $17.30 |
| 2025-02-23 | Eck Steven W | Tax withheld | 2.0K | $17.30 |
| 2025-02-23 | Hankamer Brittany | Tax withheld | 1.5K | $17.30 |
| 2025-02-23 | Sokenu Claudius | Tax withheld | 2.3K | $17.30 |
| 2025-02-23 | Stubblefield Michael | Tax withheld | 15K | $17.30 |
| 2025-02-23 | Bramwell James | Tax withheld | 3.4K | $17.30 |
| 2025-02-20 | Gourdier Benoit | Grant | 36K | — |
| 2025-02-20 | Jones R. Brent | Grant | 43K | — |
| 2025-02-20 | Jones R. Brent | Grant | 37K | — |
| 2025-02-20 | Eck Steven W | Grant | 19K | — |
| 2025-02-20 | Stubblefield Michael | Grant | 157K | — |
| 2025-02-20 | Hankamer Brittany | Grant | 17K | — |
| 2025-02-20 | Couturier Christophe | Grant | 13K | — |
| 2025-02-20 | Sokenu Claudius | Grant | 21K | — |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-12 | Shareholder voteExhibits | filing ↗ |
| 2026-04-29 | ResultsExhibits | filing ↗ |
| 2026-04-23 | Exec/director changeReg FDExhibits | filing ↗ |
| 2026-04-01 | Exec/director changeReg FDExhibits | filing ↗ |
| 2026-02-25 | Exec/director changeExhibits | filing ↗ |
| 2026-02-25 | Exec/director changeExhibits | filing ↗ |
| 2026-02-11 | ResultsReg FDExhibits | filing ↗ |
| 2025-12-18 | Exec/director changeReg FDExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-12 | 2026-05-07 | 0001628280-26-034146 ↗ |
| 10-Q | 2026-04-29 | 2026-03-31 | 0001628280-26-028141 ↗ |
| 8-K | 2026-04-29 | 2026-04-29 | 0001628280-26-028078 ↗ |
| 8-K | 2026-04-23 | 2026-04-17 | 0001628280-26-026905 ↗ |
| 8-K | 2026-04-01 | 2026-03-26 | 0001628280-26-022575 ↗ |
| 8-K/A | 2026-02-25 | 2025-12-04 | 0001628280-26-011722 ↗ |
| 8-K/A | 2026-02-25 | 2025-12-17 | 0001628280-26-011727 ↗ |
| 8-K | 2026-02-11 | 2026-02-11 | 0001628280-26-007120 ↗ |
| 10-K | 2026-02-11 | 2025-12-31 | 0001628280-26-007118 ↗ |
| 8-K | 2025-12-18 | 2025-12-17 | 0001628280-25-057805 ↗ |
| 8-K | 2025-12-04 | 2025-12-04 | 0001722482-25-000221 ↗ |
| 8-K | 2025-11-10 | 2025-10-26 | 0001628280-25-051159 ↗ |