Revenue growth remains modest at 2.5% year-over-year as of 2026Q1, while operating margins continue to fluctuate significantly, ranging from 0.1% to 11.6% over the last ten quarters.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 |
|---|
| Sales/Revenue | 3.28B | 3.26B | 3.24B | 3.14B | 3.4B | 3.32B | 3.24B | 2.86B | 3.53B | 3.23B | 3.34B | 3.38B | 3.84B | 3.77B | 2.99B | 2.86B | 2.62B | 2.06B | 2.74B | 2.64B | 2.62B | 2.45B | 2.16B | 1.96B | 2.5B | 2.65B | 1.89B | 1.26B |
| Revenue Growth % | 1.33% | 0.61% | 3.11% | -7.48% | 2.46% | 2.26% | 13.25% | -18.98% | 9.4% | -3.29% | -1.12% | -11.94% | 1.7% | 26.02% | 4.51% | 9.21% | 27.23% | -24.76% | 3.63% | 0.77% | 7.01% | 13.38% | 10.03% | -21.36% | -5.89% | 40.62% | 49.68% | - |
| Cost of Goods Sold | 2.24B | 2.2B | 2.18B | 2.24B | 2.51B | 2.37B | 2.46B | 2.21B | 2.79B | 2.51B | 2.63B | 2.7B | 3.13B | 3.11B | 2.43B | 2.4B | 2.19B | 1.74B | 2.44B | 2.34B | 2.28B | 2.15B | 1.84B | 1.66B | 2.1B | 2.22B | 1.6B | 1.03B |
| COGS % of Revenue | - | 67.54% | 67.39% | 71.28% | 74.01% | 71.53% | 75.81% | 77.04% | 78.92% | 77.74% | 78.86% | 79.82% | 81.54% | 82.44% | 81.14% | 83.84% | 83.64% | 84.36% | 89.17% | 88.44% | 87.05% | 87.88% | 85.01% | 84.74% | 83.99% | 83.74% | 84.69% | 81.58% |
| Gross Profit | 1.04B | 1.06B | 1.06B | 902.7M | 882.7M | 943.8M | 784.3M | 657.2M | 744.9M | 719M | 706.2M | 681.5M | 707.9M | 662.2M | 564.3M | 462.7M | 428.9M | 322.2M | 296.6M | 305.4M | 339.7M | 297.1M | 324M | 299.8M | 400M | 431.6M | 289M | 232.3M |
| Gross Margin % | 31.74% | 32.46% | 32.61% | 28.72% | 25.99% | 28.47% | 24.19% | 22.96% | 21.08% | 22.26% | 21.14% | 20.18% | 18.46% | 17.56% | 18.86% | 16.16% | 16.36% | 15.64% | 10.83% | 11.56% | 12.95% | 12.12% | 14.99% | 15.26% | 16.01% | 16.26% | 15.31% | 18.42% |
| Gross Profit Growth % | - | 0.14% | 17.06% | 2.27% | -6.47% | 20.34% | 19.34% | -11.77% | 3.6% | 1.81% | 3.62% | -3.73% | 6.9% | 17.35% | 21.96% | 7.88% | 33.12% | 8.63% | -2.88% | -10.1% | 14.34% | -8.3% | 8.07% | -25.05% | -7.32% | 49.34% | 24.41% | - |
| Operating Expenses | 734.5M | 854.7M | 727.4M | 681.2M | 639.4M | 664.1M | 595M | 500.4M | 471.2M | 441.5M | 424.3M | 430.6M | 552.8M | 457.6M | 420.6M | 229.7M | 254.6M | 237.1M | 558.7M | 271.5M | 149.5M | 156.8M | 204.4M | 303.8M | 361.1M | 442.8M | 214.7M | 132.6M |
| OpEx % of Revenue | - | 26.22% | 22.45% | 21.67% | 18.82% | 20.03% | 18.35% | 17.48% | 13.34% | 13.67% | 12.7% | 12.75% | 14.41% | 12.13% | 14.05% | 8.02% | 9.71% | 11.51% | 20.4% | 10.27% | 5.7% | 6.4% | 9.46% | 15.46% | 14.45% | 16.68% | 11.37% | 10.51% |
| Selling, General & Admin | 701.1M | 695.4M | 727.4M | 590.9M | 639.4M | 664.1M | 595M | 500.4M | 471.2M | 441.5M | 424.3M | 430.6M | 552.8M | 457.6M | 420.6M | 381.7M | 296.6M | 272.3M | 287.1M | 241.8M | 201.3M | 178.2M | 201.2M | 243.8M | 302.6M | 304.2M | 191.5M | 97.4M |
| SG&A % of Revenue | - | 21.33% | 22.45% | 18.8% | 18.82% | 20.03% | 18.35% | 17.48% | 13.34% | 13.67% | 12.7% | 12.75% | 14.41% | 12.13% | 14.05% | 13.33% | 11.31% | 13.21% | 10.48% | 9.15% | 7.68% | 7.27% | 9.31% | 12.41% | 12.11% | 11.46% | 10.14% | 7.72% |
| Research & Development | 0 | 0 | 98.7M | 90.3M | 84.9M | 0 | 0 | 0 | 49.6M | 52.1M | 50.4M | 53M | 53.4M | 52.6M | 41.3M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | 3.05% | 2.87% | 2.5% | - | - | - | 1.4% | 1.61% | 1.51% | 1.57% | 1.39% | 1.39% | 1.38% | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 1000K | 159.3M | -98.7M | 0 | -84.9M | 0 | 0 | 0 | -12.6M | -4.1M | 600K | -2.7M | -4.5M | -1.2M | -3.3M | -152M | -42M | -35.2M | 271.6M | 29.7M | -51.8M | -21.4M | 3.2M | 60M | 58.5M | 138.6M | 23.2M | 35.2M |
| Operating Income | 306.9M | 203.5M | 329.3M | 221.5M | 243.3M | 279.7M | 189.3M | 156.8M | 273.7M | 277.5M | 281.9M | 250.9M | 155.1M | 231.5M | 167.1M | 233M | 174.3M | 80.1M | -129.3M | 33.9M | 190.2M | 140.3M | 119.6M | -4M | 38.9M | -17.1M | 64.8M | 99.7M |
| Operating Margin % | 9.35% | 6.24% | 10.16% | 7.05% | 7.16% | 8.44% | 5.84% | 5.48% | 7.75% | 8.59% | 8.44% | 7.43% | 4.04% | 6.14% | 5.58% | 8.14% | 6.65% | 3.89% | -4.72% | 1.28% | 7.25% | 5.73% | 5.53% | -0.2% | 1.56% | -0.64% | 3.43% | 7.91% |
| Operating Income Growth % | - | -38.2% | 48.67% | -8.96% | -13.01% | 47.75% | 20.73% | -42.71% | -1.37% | -1.56% | 12.36% | 61.77% | -33% | 38.54% | -28.28% | 33.68% | 117.6% | 161.95% | -481.42% | -82.18% | 35.57% | 17.31% | 3090% | -110.28% | 327.49% | -126.39% | -35% | - |
| EBITDA | 495.4M | 389.4M | 509M | 410.3M | 406.4M | 425.6M | 304.3M | 244.3M | 369.4M | 375.1M | 365.9M | 366.6M | 279M | 341.3M | 236.9M | 290.5M | 229.5M | 144.9M | -61.3M | 91.3M | 247.3M | 191M | 170.5M | 47.4M | 111.4M | 74.2M | 122.2M | 144.1M |
| EBITDA Margin % | 15.1% | 11.94% | 15.71% | 13.06% | 11.96% | 12.84% | 9.39% | 8.53% | 10.45% | 11.61% | 10.96% | 10.85% | 7.27% | 9.05% | 7.92% | 10.14% | 8.75% | 7.03% | -2.24% | 3.45% | 9.43% | 7.79% | 7.89% | 2.41% | 4.46% | 2.8% | 6.47% | 11.43% |
| EBITDA Growth % | 19.89% | -23.5% | 24.06% | 0.96% | -4.51% | 39.86% | 24.56% | -33.87% | -1.52% | 2.51% | -0.19% | 31.4% | -18.25% | 44.07% | -18.45% | 26.58% | 58.39% | 336.38% | -167.14% | -63.08% | 29.48% | 12.02% | 259.7% | -57.45% | 50.13% | -39.28% | -15.2% | - |
| D&A (Non-Cash Add-back) | 188.5M | 185.9M | 179.7M | 188.8M | 163.1M | 145.9M | 115M | 87.5M | 95.7M | 97.6M | 84M | 115.7M | 123.9M | 109.8M | 69.8M | 57.5M | 55.2M | 64.8M | 68M | 57.4M | 57.1M | 50.7M | 50.9M | 51.4M | 72.5M | 91.3M | 57.4M | 44.4M |
| EBIT | 343.3M | 362.8M | 330.4M | 202.6M | 183.6M | 278.7M | 213.6M | 168.9M | 169.4M | 273.8M | 287.1M | 238M | 150.6M | 214.5M | 134.1M | 202.6M | 142.8M | 70.5M | -133.9M | 33.9M | 190.2M | 140.3M | 128.4M | -14.9M | 5M | -45.3M | 73.4M | 99.7M |
| Net Interest Income | -67.8M | -98.6M | -105.6M | -115.3M | -148.3M | -87.6M | -81.8M | -59.5M | -62.8M | -60.8M | -59.7M | -64M | -62.2M | -63.5M | -50.8M | -33.7M | -31.5M | -34.3M | -37.2M | -81.2M | -79.5M | -97M | -114.8M | -290.3M | 0 | 0 | 0 | 0 |
| Interest Income | 0 | 0 | 0 | 0 | 34M | 17.5M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3.4M | 4.5M | 3.4M | 1.9M | 1.5M | 900K | 0 | 0 | 0 | 0 |
| Interest Expense | 67.8M | 98.6M | 105.6M | 115.3M | 182.3M | 105.1M | 81.8M | 59.5M | 62.8M | 60.8M | 59.8M | 64.1M | 62.2M | 63.5M | 50.8M | 33.7M | 31.5M | 34.3M | 40.6M | 85.7M | 82.9M | 98.9M | 116.3M | 291.2M | 118.4M | 117.5M | 64.1M | 0 |
| Other Income/Expense | -96.3M | -91.8M | -104.5M | -134.2M | -179.5M | -76.2M | -50.3M | -47.4M | -76.8M | -65.2M | -55.3M | -83.2M | -66.7M | -80.5M | -54.1M | -34.3M | -63.3M | -25.6M | -41.8M | -66.3M | -70.3M | -71.5M | -78.3M | -68.1M | -16.8M | -80.7M | -39.3M | 74.3M |
| Pretax Income | 210.6M | 111.7M | 224.8M | 87.3M | 63.8M | 203.5M | 139M | 109.4M | 197.2M | 212.3M | 222.3M | 167.7M | 88.4M | 151M | 113M | 198.7M | 111M | 36.2M | -171.1M | -32.4M | 119.9M | 68.8M | 32.2M | -83M | -11.8M | -71.7M | 26.1M | 174M |
| Pretax Margin % | 6.42% | 3.43% | 6.94% | 2.78% | 1.88% | 6.14% | 4.29% | 3.82% | 5.58% | 6.57% | 6.66% | 4.97% | 2.3% | 4% | 3.78% | 6.94% | 4.23% | 1.76% | -6.25% | -1.23% | 4.57% | 2.81% | 1.49% | -4.23% | -0.47% | -2.7% | 1.38% | 13.8% |
| Income Tax | 51.3M | 28.1M | 54.1M | 11M | -19.3M | 51.9M | 5.2M | 33.7M | 36.4M | 38.7M | 57.3M | 23M | 11.2M | 58.1M | 41.2M | 26.1M | -51.6M | -13.3M | 101.8M | -43.8M | -6M | 6.6M | 13.6M | 12.3M | -5.2M | -25.6M | 10.2M | 67.8M |
| Effective Tax Rate % | 24.36% | 25.16% | 24.07% | 12.6% | -30.25% | 25.5% | 3.74% | 30.8% | 18.46% | 18.23% | 25.78% | 13.71% | 12.67% | 38.48% | 36.46% | 13.14% | -46.49% | -36.74% | -59.5% | 135.19% | -5% | 9.59% | 42.24% | -14.82% | 44.07% | 35.7% | 39.08% | 38.97% |
| Net Income | 157.8M | 81.9M | 169.5M | 75.7M | 153M | 230.8M | 131.6M | 588.6M | 159.8M | -57.7M | 165.2M | 144.6M | 79.2M | 243.8M | 71.9M | 172.6M | 162.6M | 49.5M | -272.9M | 11.4M | 123.2M | 46.9M | 23.5M | -251.1M | -58.9M | -46.1M | 15.9M | 104.7M |
| Net Margin % | 4.81% | 2.51% | 5.23% | 2.41% | 4.5% | 6.96% | 4.06% | 20.56% | 4.52% | -1.79% | 4.95% | 4.28% | 2.06% | 6.46% | 2.4% | 6.03% | 6.2% | 2.4% | -9.96% | 0.43% | 4.7% | 1.91% | 1.09% | -12.78% | -2.36% | -1.74% | 0.84% | 8.3% |
| Net Income Growth % | 57.96% | -51.68% | 123.91% | -50.52% | -33.71% | 75.38% | -77.64% | 268.34% | 376.95% | -134.93% | 14.25% | 82.58% | -67.51% | 239.08% | -58.34% | 6.15% | 228.48% | 118.14% | -2493.86% | -90.75% | 162.69% | 99.57% | 109.36% | -326.32% | -27.77% | -389.94% | -84.81% | - |
| Net Income (Continuing) | 159.3M | 83.6M | 170.7M | 76.3M | 83.1M | 151.6M | 133.8M | 75.7M | 87.4M | 173.6M | 166.2M | 148.5M | 77.2M | 92.9M | 71.8M | 172.6M | 162.6M | 49.5M | -272.9M | 11.4M | 125.9M | 62.2M | 27.6M | -106.4M | -25.3M | -59.2M | 15.2M | 106.2M |
| Discontinued Operations | 0 | 0 | 0 | -100K | 70.2M | 79M | -400K | 513.1M | 72.1M | 0 | 0 | 0 | 1.2M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 12.2M | 12.1M | 15.8M | 18.8M | 18.3M | 15.8M | 14.6M | 800K | 600K | 900K | 800K | 1M | 900K | 1.7M | 2.3M | 0 | 0 | 0 | 0 | 300K | 5.5M | 5.4M | 6.8M | 8.5M | 9M | 15.7M | 14M | 5.7M |
| EPS (Diluted) | 1.72 | 0.89 | 1.84 | 0.82 | 1.66 | 2.51 | 1.45 | 0.97 | 1.99 | -0.70 | 1.95 | 1.63 | 0.85 | 2.53 | 0.80 | 1.83 | 1.69 | 0.53 | -2.94 | 0.12 | 1.33 | 0.51 | 0.26 | -2.76 | -0.64 | -0.51 | 0.26 | 2.15 |
| EPS Growth % | 60.75% | -51.63% | 124.39% | -50.6% | -33.86% | 73.1% | 49.48% | -51.26% | 384.29% | -135.9% | 19.63% | 91.76% | -66.4% | 216.25% | -56.28% | 8.28% | 218.87% | 118.03% | -2550% | -90.98% | 160.78% | 96.15% | 109.42% | -331.25% | -25.49% | -296.15% | -87.91% | - |
| EPS (Basic) | - | 0.90 | 1.86 | 0.83 | 7.71 | 2.53 | 1.46 | 0.98 | 2.01 | -0.71 | 1.97 | 1.65 | 0.86 | 2.55 | 0.81 | 1.87 | 1.75 | 0.54 | -2.94 | 0.12 | 1.33 | 0.51 | 0.26 | -3.07 | -0.65 | -0.51 | 0.26 | 2.25 |
| Diluted Shares Outstanding | 91.9M | 91.8M | 92M | 91.8M | 92.2M | 92.1M | 90.6M | 77.7M | 80.4M | 82.1M | 84.6M | 88.7M | 93.5M | 96.5M | 89.8M | 94.3M | 96M | 93.4M | 92.7M | 93.1M | 92.8M | 92M | 91.8M | 91M | 92.1M | 90.4M | 62M | 48.6M |
| Basic Shares Outstanding | 91.7M | 91.5M | 91.3M | 91.1M | 91.2M | 91.4M | 90.1M | 77.2M | 79.7M | 81.5M | 83.9M | 87.8M | 92.3M | 95.5M | 89.1M | 92.2M | 93.1M | 92.4M | 92.7M | 92.8M | 92.4M | 91.9M | 91.6M | 81.79M | 90.62M | 90.39M | 61.4M | 46.6M |
| Dividend Payout Ratio | - | 120.63% | 55.46% | 119.15% | 56.73% | 33.67% | 54.18% | 10.24% | 35.11% | - | 24.33% | 24.69% | 37.75% | 8.82% | 23.5% | 6.43% | 14.88% | 66.46% | - | - | - | - | - | - | - | - | 93.71% | 11.27% |
High Debt Leverage
According to recent quarterly filings, Avient's revenue growth has exhibited a mixed trajectory, with the most recent period showing a 2.5% year-over-year increase to $847.4 million, reflecting the ongoing challenges of navigating a post-divestiture portfolio while managing cyclical demand in its core specialty chemical markets.
The revenue trend suggests that the company is struggling to find a consistent growth cadence following the divestiture of its distribution business. While the recent 2.5% growth indicates some stabilization, investors should monitor whether the company can achieve sustained organic expansion without the volume-heavy contribution of its former segments.
As reported in financial statements, Avient has maintained a gross margin profile hovering around 32%, a figure that appears to validate the company's strategic pivot toward higher-value, specialty-formulated products that command greater pricing power than the commodity-heavy resin business it previously operated.
The stability of the 32% gross margin suggests that the company's 'spec-in' strategy is effectively insulating it from the worst of raw material price volatility. However, the inability to consistently push margins significantly higher warrants further investigation into whether competitive pressures are limiting the pass-through of costs.
Based on Avient's reported figures, operating income has shown significant volatility, with margins fluctuating between 0.1% and 11.6% over the last ten quarters, indicating that the company has yet to achieve the consistent operating leverage expected from its high-margin specialty chemical business model.
The wide variance in operating margins suggests that SG&A expenses remain somewhat rigid relative to revenue fluctuations. This lack of consistent operating leverage may imply that the company is still absorbing integration costs or restructuring expenses that prevent the full realization of scale benefits.
Financial disclosures reveal that net income has been highly inconsistent, ranging from a $20.2 million loss in 2025Q1 to a $55.7 million profit in 2026Q1, largely due to the impact of non-operating items and the ongoing integration of large-scale acquisitions like Dyneema.
The erratic nature of net income appears to be a byproduct of purchase price accounting and restructuring charges rather than purely operational failure. Investors should monitor whether these 'special items' continue to suppress earnings quality or if the company is approaching a period of cleaner, more predictable profitability.
Analysis of the company's recent financial performance suggests that the aggressive acquisition strategy has left the balance sheet in a strained position, with significant debt service requirements potentially limiting the capital available for R&D and organic growth initiatives in the near term.
Short-sellers might focus on the high debt-to-EBITDA levels, which could become a liability if interest rates remain elevated or if end-market demand for high-performance materials softens. The company's ability to deleverage will be the primary test of management's capital allocation strategy over the coming fiscal years.
Quick answers to the most common questions about buying AVNT stock.
For fiscal year 2025, Avient Corporation (AVNT) reported total revenue of $3.26B. This represents a 158.5% increase compared to $1.26B in 1999.
Avient Corporation (AVNT) is profitable, generating $81.9M in net income for the fiscal year ending 2025 with a net profit margin of 2.5%.
Avient Corporation (AVNT) reported an operating income of $203.5M, resulting in an operating profit margin of 6.2%. This margin reflects the operational efficiency of the business before interest and taxes.
Avient Corporation (AVNT) generated $1.06B in gross profit for the year, representing a gross profit margin of 32.5%. This demonstrates the company's core pricing power and production efficiency.