Latest Ratios: P/E Ratio 46.0x · EV/EBITDA 13.3x · ROE 3.5%. (1999–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $3.8B | $2.9B | $3.8B | $3.8B | $3.1B | $5.2B | $3.6B | $2.9B | $2.3B | $3.6B | $2.7B |
| Enterprise Value | $5.2B | $4.3B | $5.4B | $5.4B | $4.7B | $6.5B | $5.0B | $3.3B | $3.5B | $4.6B | $3.7B |
| P/E Ratio → | 46.03 | 35.10 | 22.21 | 50.70 | 20.34 | 22.29 | 27.78 | 37.93 | 14.37 | — | 16.43 |
| P/S Ratio | 1.15 | 0.88 | 1.16 | 1.21 | 0.92 | 1.55 | 1.13 | 1.00 | 0.65 | 1.11 | 0.81 |
| P/B Ratio | 1.58 | 1.20 | 1.61 | 1.63 | 1.32 | 2.88 | 2.13 | 2.72 | 4.25 | 5.96 | 3.74 |
| P/FCF | 19.27 | 14.71 | 27.87 | 46.42 | 10.63 | 38.69 | 23.11 | 12.99 | 12.94 | 29.08 | 19.77 |
| P/OCF | 12.46 | 9.51 | 14.64 | 18.93 | 7.81 | 22.04 | 16.47 | 9.47 | 9.06 | 17.65 | 12.25 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.31 | 1.66 | 1.72 | 1.39 | 1.95 | 1.53 | 1.15 | 0.99 | 1.44 | 1.12 |
| EV / EBITDA | 13.28 | 10.99 | 10.54 | 13.19 | 11.59 | 15.20 | 16.28 | 13.45 | 9.43 | 12.36 | 10.23 |
| EV / EBIT | 25.41 | 11.80 | 16.23 | 26.70 | 25.64 | 23.21 | 23.19 | 19.46 | 20.57 | 16.93 | 13.03 |
| EV / FCF | — | 21.95 | 39.76 | 65.82 | 16.08 | 48.57 | 31.37 | 14.94 | 19.61 | 37.76 | 27.30 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 32.5% | 32.5% | 32.6% | 28.7% | 26.0% | 28.5% | 24.2% | 23.0% | 21.1% | 22.3% | 21.1% |
| Operating Margin | 6.2% | 6.2% | 10.2% | 7.0% | 7.2% | 8.4% | 5.8% | 5.5% | 7.7% | 8.6% | 8.4% |
| Net Profit Margin | 2.5% | 2.5% | 5.2% | 2.4% | 4.5% | 7.0% | 4.1% | 20.6% | 4.5% | -1.8% | 4.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 3.5% | 3.5% | 7.3% | 3.2% | 7.4% | 13.2% | 9.5% | 73.9% | 28.0% | -8.7% | 23.1% |
| ROA | 1.4% | 1.4% | 2.9% | 1.3% | 2.8% | 4.7% | 3.2% | 19.6% | 5.9% | -2.1% | 6.2% |
| ROIC | 3.9% | 3.9% | 6.3% | 4.2% | 5.2% | 6.9% | 6.3% | 7.3% | 12.1% | 12.2% | 12.7% |
| ROCE | 4.0% | 4.0% | 6.4% | 4.3% | 5.2% | 6.9% | 5.7% | 6.6% | 12.7% | 12.8% | 13.1% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.81 | 0.81 | 0.92 | 0.92 | 0.95 | 1.07 | 1.14 | 1.23 | 2.51 | 2.18 | 1.73 |
| Debt / EBITDA | 4.94 | 4.94 | 4.22 | 5.22 | 5.50 | 4.50 | 6.42 | 5.29 | 3.67 | 3.49 | 3.44 |
| Net Debt / Equity | — | 0.59 | 0.69 | 0.68 | 0.68 | 0.74 | 0.76 | 0.41 | 2.19 | 1.78 | 1.42 |
| Net Debt / EBITDA | 3.63 | 3.63 | 3.15 | 3.88 | 3.93 | 3.09 | 4.29 | 1.75 | 3.21 | 2.84 | 2.82 |
| Debt / FCF | — | 7.24 | 11.89 | 19.39 | 5.45 | 9.88 | 8.26 | 1.95 | 6.67 | 8.68 | 7.52 |
| Interest Coverage | 3.68 | 3.68 | 3.13 | 1.76 | 1.01 | 2.65 | 2.61 | 2.84 | 2.70 | 4.50 | 4.80 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.66 | 1.66 | 1.88 | 1.82 | 1.81 | 1.94 | 2.00 | 2.15 | 1.79 | 1.87 | 1.86 |
| Quick Ratio | 1.22 | 1.22 | 1.42 | 1.37 | 1.38 | 1.62 | 1.59 | 1.78 | 1.17 | 1.29 | 1.25 |
| Cash Ratio | 0.60 | 0.60 | 0.72 | 0.71 | 0.74 | 0.64 | 0.81 | 1.23 | 0.31 | 0.43 | 0.44 |
| Asset Turnover | — | 0.54 | 0.56 | 0.53 | 0.56 | 0.66 | 0.67 | 0.87 | 1.30 | 1.19 | 1.23 |
| Inventory Turnover | 6.00 | 6.00 | 6.30 | 6.46 | 6.75 | 7.76 | 7.50 | 8.45 | 8.09 | 7.66 | 8.43 |
| Days Sales Outstanding | — | 48.70 | 45.00 | 46.44 | 47.34 | 48.43 | 58.16 | 42.08 | 35.87 | 44.34 | 35.58 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.6% | 3.4% | 2.5% | 2.4% | 2.8% | 1.5% | 2.0% | 2.1% | 2.4% | 1.2% | 1.5% |
| Payout Ratio | 120.6% | 120.6% | 55.5% | 119.2% | 56.7% | 33.7% | 54.2% | 10.2% | 35.1% | — | 24.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.2% | 2.8% | 4.5% | 2.0% | 4.9% | 4.5% | 3.6% | 2.6% | 7.0% | — | 6.1% |
| FCF Yield | 5.2% | 6.8% | 3.6% | 2.2% | 9.4% | 2.6% | 4.3% | 7.7% | 7.7% | 3.4% | 5.1% |
| Buyback Yield | 0.1% | 0.1% | 0.2% | 0.1% | 1.2% | 0.1% | 0.6% | 0.9% | 5.3% | 2.0% | 3.2% |
| Total Shareholder Yield | 2.7% | 3.6% | 2.7% | 2.5% | 4.0% | 1.6% | 2.6% | 3.1% | 7.8% | 3.2% | 4.7% |
| Shares Outstanding | — | $92M | $92M | $92M | $92M | $92M | $91M | $78M | $80M | $82M | $85M |
Includes 30+ ratios · 27 years · Updated daily
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Quick answers to the most common questions about buying AVNT stock.
Avient Corporation's current P/E ratio is 46.0x. The historical average is 23.4x. This places it at the 91th percentile of its historical range.
Avient Corporation's current EV/EBITDA is 13.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 11.0x.
Avient Corporation's return on equity (ROE) is 3.5%. The historical average is 9.7%.
Based on historical data, Avient Corporation is trading at a P/E of 46.0x. This is at the 91th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Avient Corporation's current dividend yield is 2.63% with a payout ratio of 120.6%.
Avient Corporation has 32.5% gross margin and 6.2% operating margin.
Avient Corporation's Debt/EBITDA ratio is 4.9x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
Dyneema integration and leverage
Metrics are mathematically derived from official filings.
Discounted Despite Earnings Beat
Avient trades at 52x trailing earnings but only 15x forward, per recent filings, implying the market expects substantial earnings growth from Dyneema synergies and margin expansion.
The steep gap between trailing and forward P/E suggests the market is pricing in a significant earnings recovery, likely from the Dyneema acquisition and specialty mix shift. At 14.5x EV/EBITDA, Avient sits above commodity peers but below specialty names like Balchem (22x), indicating the market may still be applying a conglomerate discount. The forward EV/EBITDA of 7.2x appears overly punitive unless the market doubts the sustainability of recent margin improvements.
Margin Expansion on Specialty Mix
Gross margin improved to 33.5% in Q2 2026 from 30.4% a year earlier, as reported in financial statements, reflecting a favorable shift toward higher-value specialty products.
Operating margin expanded to 12.3% in Q2 2026 from 11.1% in the prior year, indicating that the specialty transformation is gaining traction. However, net margin of 7.3% remains suppressed by heavy amortization from acquisitions, which may understate true cash profitability. Investors should focus on adjusted EBITDA margins, which likely exceed reported operating margins by several hundred basis points.
ROIC Recovery Underway
ROIC improved to 2.2% in Q2 2026 from 1.4% a year earlier, per quarterly data, but remains well below the cost of capital, suggesting the Dyneema acquisition has yet to generate adequate returns.
The sequential improvement in ROIC from 0.8% in Q4 2025 to 2.2% in Q2 2026 indicates that integration synergies and operational leverage are beginning to materialize. However, the absolute level remains low, reflecting the heavy goodwill and intangible base from acquisitions. Management's ability to achieve the promised $100 million in synergies will be critical to lifting ROIC toward the mid-single digits.
Working Capital Drag Persists
Cash conversion cycle lengthened to 48 days in Q2 2026 from 40 days a year earlier, based on reported figures, driven by higher inventory days and slower collections.
The increase in DIO to 62 days and DSO to 53 days suggests that Avient is building inventory ahead of expected demand, possibly for healthcare and defense contracts. While the company has historically recovered resin cost increases within two to three quarters, the current working capital build is pressuring free cash flow, which turned negative in Q2 2026. Management's ability to normalize working capital will be key to cash generation.
Deleveraging Progress but Debt Heavy
Debt-to-equity improved to 0.77 in Q2 2026 from 0.89 a year earlier, per balance sheet data, yet remains elevated versus specialty peers like Innospec (0.04).
Interest coverage of 5.0x in Q2 2026 is comfortable but down from 3.9x in Q1 2024, reflecting higher debt levels and interest rates. The D/EBITDA ratio of 16.45x is distorted by low trailing EBITDA; on a forward basis, it likely normalizes to around 3-4x. Continued free cash flow generation will be essential to reduce debt and avoid refinancing risk in a higher-for-longer rate environment.
Liquidity Buffer Strengthens
Current ratio improved to 1.90 in Q2 2026 from 0.97 in Q2 2024, as per balance sheet data, with cash of $425.6 million providing a cushion.
The quick ratio of 1.35 indicates that Avient can cover short-term obligations without relying on inventory sales, which is reassuring given the cyclicality of resin prices. The improvement in liquidity is partly due to the divestiture of the Distribution business, which reduced working capital requirements. However, the negative free cash flow in Q2 2026 suggests that liquidity could tighten if working capital builds persist.
Trading at Discount to Specialty Peers
Avient's forward P/E of 15.06 is below Balchem's 37.58 and Innospec's 20.10, per peer data, suggesting the market is not fully crediting its specialty transformation.
On EV/EBITDA, Avient (14.54) trades at a premium to H.B. Fuller (9.15) and Innospec (10.08), but a discount to Balchem (22.21), which has a higher ROIC and lower leverage. The gap likely reflects Avient's higher debt and integration risk. If the company delivers on its synergy targets and continues to expand margins, the multiple could re-rate toward the higher end of the specialty group.
Misapplied P/E Distorts Value
The trailing P/E of 52.07 is misleading due to heavy acquisition amortization, as reported in financial statements, obscuring Avient's true cash-generative capacity.
Investors should use EV/EBITDA or adjusted P/E that adds back non-cash amortization and acquisition-related charges. The reported net margin of 2.51% understates the underlying profitability of the specialty businesses. A more accurate valuation metric would be EV/adjusted EBITDA, which likely trades at a significant discount to the reported EV/EBITDA of 14.54x.