Filing Flows › Avantor (AVTR) › How it makes money
How Avantor (AVTR) makes money
Avantor (AVTR) made $1.7B of revenue in the third quarter 2026 (Q3 2026), +5% from a year earlier. Proprietary brought in $908M (53%); Third-party brought in $790M (47%). Of every dollar of revenue, 31¢ was left as gross profit, 8¢ was left as operating profit, 12¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Proprietary | $908M | 53.5% | +3% | +6% |
| Third-party | $790M | 46.5% | -3% | +3% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $1.7B | 100.0% |
| Cost of revenue | $1.2B | 68.5% |
| Gross profit | $535M | 31.5% |
| Operating expenses | $395M | 23.3% |
| Operating profit | $140M | 8.2% |
| Net earnings | $203M | 12.0% |
| Operating cash flow | $195M | 11.5% |
| Free cash flow | $156M | 9.2% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $1.7B | +5% |
| Q2 2026 | $1.7B | +0.5% |
| Q1 2026 | $1.6B | 0% |
| Q4 2025 | $1.7B | -1% |
| Q3 2025 | $1.6B | -5% |
| Q2 2025 | $1.7B | -1% |
| Q1 2025 | $1.6B | -6% |
From Avantor's 10-Q filed Oct 28, 2026 (on EDGAR).
Questions
How does Avantor make money?
Avantor (AVTR) made $1.7B of revenue in the third quarter 2026 (Q3 2026), +5% from a year earlier. Proprietary brought in $908M (53%); Third-party brought in $790M (47%). Of every dollar of revenue, 31¢ was left as gross profit, 8¢ was left as operating profit, 12¢ was left as net earnings.
What is Avantor's biggest business?
Proprietary: $908M in the third quarter 2026, 53% of revenue, +6% from a year earlier.
What is Avantor's profit margin?
Net earnings were $203M, 12.0% of revenue, in the third quarter 2026; the operating margin was 8.2%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.