Latest Ratios: P/E Ratio 23.1x · EV/EBITDA 10.6x · 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 | $4.2B | $2.9B | $3.8B | $3.8B | $3.1B | $5.2B | $3.6B | $2.9B | $2.3B | $3.6B | $2.7B |
| Enterprise Value | $5.6B | $4.3B | $5.4B | $5.4B | $4.7B | $6.5B | $5.0B | $3.3B | $3.5B | $4.6B | $3.7B |
| P/E Ratio → | 23.10 | 35.10 | 22.21 | 50.70 | 20.34 | 22.29 | 27.78 | 37.93 | 14.37 | — | 16.43 |
| P/S Ratio | 1.22 | 0.88 | 1.16 | 1.21 | 0.92 | 1.55 | 1.13 | 1.00 | 0.65 | 1.11 | 0.81 |
| P/B Ratio | 1.75 | 1.20 | 1.61 | 1.63 | 1.32 | 2.88 | 2.13 | 2.72 | 4.25 | 5.96 | 3.74 |
| P/FCF | 40.60 | 14.71 | 27.87 | 46.42 | 10.63 | 38.69 | 23.11 | 12.99 | 12.94 | 29.08 | 19.77 |
| P/OCF | 13.83 | 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 | 10.65 | 10.99 | 10.54 | 13.19 | 11.59 | 15.20 | 16.28 | 13.45 | 9.54 | 12.34 | 9.65 |
| EV / EBIT | 27.43 | 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 | 3.71 | 3.48 | 3.24 |
| 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 | 3.24 | 2.84 | 2.66 |
| 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 | 2.4% | 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 | 4.3% | 2.8% | 4.5% | 2.0% | 4.9% | 4.5% | 3.6% | 2.6% | 7.0% | — | 6.1% |
| FCF Yield | 2.5% | 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 | 2.5% | 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 23.1x. The historical average is 23.4x. This places it at the 64th percentile of its historical range.
Avient Corporation's current EV/EBITDA is 10.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.9x.
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 23.1x. This is at the 64th 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 2.37% 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
Leverage limits financial flexibility
Metrics are mathematically derived from official filings.
Trailing Earnings Multiple Overstates Cheapness Gap
Based on reported figures, AVNT trades at a trailing P/E of 51.09 but a forward P/E of 14.09, a gap that reflects depressed trailing net margins of 2.5% rather than an expensive franchise on normalized earnings.
The collapse from trailing to forward multiple suggests the market is capitalizing a recovery in earnings rather than paying up for historical profitability. An EV/EBITDA of 14.34 compared with a forward figure of 9.03 points to the same dynamic. Relative to specialty peers such as BCPC at 36.72 P/E and 21.71 EV/EBITDA, AVNT appears to trade at a discount, which may reflect leverage and the complexity of recent portfolio changes that investors should monitor.
Gross Margin Strength Masked by Operating Drag
Reported gross margins of roughly 30% to 35% across the ten quarters indicate specialty mix, yet operating margin of 9.3% in Q3 2026 and net margin of 4.8% show that overhead and amortization absorb most of that gross profit.
Gross margin stability near specialty-chemical levels supports the view that the formulation-heavy model is intact. The compression from 12.3% operating margin in Q2 2026 to 9.3% in Q3 2026 suggests SG&A growth outpaced gross profit, which warrants investigation. Earnings power should be judged on adjusted operating margin excluding intangible amortization rather than the depressed reported net figure.
Deleveraging Progress Thin Against Interest Burden
Based on reported ratios, AVNT's debt-to-equity fell from 0.92 to 0.74 over the period, but interest coverage of 3.58 in Q3 2026 remains volatile, ranging from 0.01 to 5.00 across the ten quarters.
The steady decline in D/E suggests equity accretion and debt reduction are both contributing, though the absolute debt load still exceeds $1.8B. Coverage swings, including a near-zero reading in Q1 2025, indicate that earnings volatility translates directly into debt-service pressure. Refinancing risk should be assessed against the trajectory of EBITDA rather than the current leverage ratio alone.
Returns Recovering from Trough but Subdued
As reported in the quarterly ratio data, AVNT's ROIC moved from 0.0% in Q1 2025 to 2.2% in Q2 2026 before settling at 1.6% in Q3 2026, levels that remain well below the 12% range seen at higher-return peers like BCPC.
The recovery in ROIC suggests the Dyneema and Clariant integrations are beginning to contribute, but returns remain modest relative to the capital deployed. With ROE near 3.5% and equity expanding, the balance sheet improvement has not yet translated into strong shareholder returns. Investors should monitor whether ROIC can sustain above the cost of capital through the integration period.
Adequate Current Liquidity Under Moderate Stress
Based on reported figures, AVNT's current ratio of 1.71 and quick ratio of 1.21 in Q3 2026 indicate that short-term obligations appear covered, though both ratios have declined from late-2024 peaks.
The quick ratio remaining above 1.0 suggests the company does not depend heavily on inventory liquidation to meet near-term obligations. The decline from a current ratio of 2.05 in early 2025 may reflect rising payables or debt reclassification, which investors should verify. Under severe stress, the cash balance of roughly $446M provides a buffer, but the dividend commitment of about $24M per quarter constrains discretionary flexibility.
Peer Discount May Reflect Structural Leverage
Based on reported figures, the apparent valuation discount to specialty peers may be justified if AVNT's 0.81 debt-to-equity and 3.5% ROE persist, as the market could be pricing leverage risk rather than mispricing earnings power.
The most common misreading is treating the trailing-to-forward P/E compression as proof of undervaluation, when it may simply reflect recovery expectations that have not yet been validated in reported results. Adjusted EBITDA may exclude recurring integration and restructuring costs, so investors should reconcile it against GAAP operating cash flow before accepting the forward multiple at face value. Monitoring whether ROIC converges toward peer levels such as BCPC's 12.2% would clarify whether the discount is temporary or structural.