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Avantor vs Illumina: AVTR and ILMN compared
Avantor is the larger company: $1.7B of revenue in its latest quarter (Q3 2026) against $1.1B for Illumina (Q3 2026). Avantor is growing faster (+5% against +4% a year earlier). Illumina is more profitable, with an operating margin of 27.0% against 8.2%.
Where the money goes: AVTR and ILMN
Avantor (AVTR) · Q3 2026
Avantor, Q3 2026: revenue $1.7B (+5% year over year), operating margin 8.2%, net earnings $203M, operating cash flow $195M. The chart follows the revenue to costs, profit and cash.
Illumina (ILMN) · Q3 2026
Illumina, Q3 2026: revenue $1.1B (+4% year over year), operating margin 27.0%, net earnings $220M, operating cash flow $419M. The chart follows the revenue to costs, profit and cash.
| Avantor (AVTR) | Illumina (ILMN) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $1.7B | $1.1B |
| Revenue growth, Y/Y | +5% | +4% |
| Gross margin | 31.5% | 73.5% |
| Operating margin | 8.2% | 27.0% |
| Net earnings | $203M | $220M |
| Net margin | 12.0% | 19.5% |
| Operating cash flow | $195M | $419M |
| Free cash flow | $156M | $378M |
| Market value | $10.5B | $32.8B |
| P/E | 30.9× | 36.7× |
| Analysts’ mean target | $17.35 | $259.85 |
Where the revenue comes from
Avantor
- Proprietary: $908M (53%)
- Third-party: $790M (47%)
Illumina
- Total product revenue: $946M (84%)
- Service: $183M (16%)
Questions
Which is bigger, Avantor or Illumina?
Avantor is the larger company: $1.7B of revenue in its latest quarter (Q3 2026) against $1.1B for Illumina (Q3 2026).
Is Avantor or Illumina growing faster?
Avantor is growing faster (+5% against +4% a year earlier).
Which is more profitable, Avantor or Illumina?
Illumina is more profitable, with an operating margin of 27.0% against 8.2%.
More: Avantor earnings · how Avantor makes money · Illumina earnings · how Illumina makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 28, 2026; 10-Q filed Oct 30, 2026). Fiscal quarters can end on different dates. Not investment advice.