Filing Flows › Avantor (AVTR) › Q3 2026 › vs Q3 2025
Avantor (AVTR) Q3 2026 vs Q3 2025 (year over year)
Avantor's revenue rose $74.5M (+5%) from $1.6B in Q3 2025 to $1.7B in Q3 2026. The biggest changes: Proprietary +$52.3M (+6%); Third-party +$22.2M (+3%). Gross margin 31.5% against 32.4% (-0.9 pts).
Avantor, Q3 2026: revenue $1.7B (+5% year over year), operating margin 8.2%, net earnings $203M, operating cash flow $195M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Gross margin | 31.5% | 32.4% | -0.9 pts |
| Operating margin | 8.2% | -40.0% | +48.2 pts |
| Net margin | 12.0% | -43.8% | +55.8 pts |
| Free cash flow margin | 9.2% | 10.6% | -1.4 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Proprietary | $908M | $856M | $52.3M | +6% |
| Third-party | $790M | $768M | $22.2M | +3% |
| Revenue | $1.7B | $1.6B | $74.5M | +5% |
| Gross profit | $535M | $526M | $8.3M | +2% |
| Cost of revenue | $1.2B | $1.1B | $66.2M | +6% |
| Operating profit | $140M | −$649M | $788M | — |
| Operating expenses | $395M | $1.2B | −$780M | -66% |
| Pre-tax earnings | $98.0M | −$690M | $788M | — |
| Other expense, net | $41.5M | $40.7M | $800K | +2% |
| Income tax benefit | $105M | −$22.3M | $128M | — |
| Net earnings | $203M | −$712M | $915M | — |
| Depreciation & amortization | $105M | $104M | $800K | +0.8% |
| Share-based compensation | $12.5M | $7.2M | $5.3M | +74% |
| Working capital & other | $126M | −$808M | $934M | — |
| Operating cash flow | $195M | $207M | −$12.3M | -6% |
| Free cash flow (company-reported) | $156M | $172M | −$15.5M | -9% |
| Capital expenditures | $38.9M | $35.7M | $3.2M | +9% |
Questions
How much did Avantor's revenue grow year over year in Q3 2026?
Avantor's revenue rose $74.5M (+5%) from $1.6B in Q3 2025 to $1.7B in Q3 2026.
What drove Avantor's revenue change in Q3 2026?
Proprietary +$52.3M (+6%); Third-party +$22.2M (+3%).