Filing Flows › Avantor (AVTR) › Q2 2026 › vs Q2 2025
Avantor (AVTR) Q2 2026 vs Q2 2025 (year over year)
Avantor's revenue rose $8.9M (+0.5%) from $1.7B in Q2 2025 to $1.7B in Q2 2026. The biggest changes: Third-party +$22.3M (+3%); Proprietary −$13.4M (-1%). Gross margin 31.7% against 32.9% (-1.2 pts).
Avantor, Q2 2026: revenue $1.7B (+0.5% year over year), operating margin 7.2%, net earnings $38.1M, operating cash flow $178M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Gross margin | 31.7% | 32.9% | -1.2 pts |
| Operating margin | 7.2% | 7.7% | -0.5 pts |
| Net margin | 2.3% | 3.8% | -1.6 pts |
| Free cash flow margin | 8.4% | 7.4% | +1.0 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Proprietary | $880M | $894M | −$13.4M | -1% |
| Third-party | $812M | $790M | $22.3M | +3% |
| Revenue | $1.7B | $1.7B | $8.9M | +0.5% |
| Gross profit | $537M | $554M | −$17.1M | -3% |
| Cost of revenue | $1.2B | $1.1B | $26.0M | +2% |
| Operating profit | $122M | $129M | −$7.0M | -5% |
| Operating expenses | $415M | $425M | −$10.1M | -2% |
| Pre-tax earnings | $81.2M | $81.7M | −$500K | -0.6% |
| Other expense, net | $40.6M | $47.1M | −$6.5M | -14% |
| Net earnings | $38.1M | $64.7M | −$26.6M | -41% |
| Income tax | $43.1M | $17.0M | $26.1M | +154% |
| Depreciation & amortization | $106M | $103M | $2.9M | +3% |
| Share-based compensation | $15.4M | $15.5M | −$100K | -0.6% |
| Working capital & other | $19.1M | −$28.5M | $47.6M | — |
| Operating cash flow | $178M | $154M | $23.8M | +15% |
| Free cash flow (company-reported) | $143M | $125M | $17.4M | +14% |
| Capital expenditures, net | $35.4M | $29.0M | $6.4M | +22% |
Questions
How much did Avantor's revenue grow year over year in Q2 2026?
Avantor's revenue rose $8.9M (+0.5%) from $1.7B in Q2 2025 to $1.7B in Q2 2026.
What drove Avantor's revenue change in Q2 2026?
Third-party +$22.3M (+3%); Proprietary −$13.4M (-1%).