Avantor, Inc.

AI-generated fair value estimate for this company.

Method: 10-year unlevered FCF DCF: $500M normalized FCF base (between TTM $454.7M and the FY2024-2025 average, smoothing a bioprocessing-destocking-driven decline); 3% annual FCF growth years 1-3; 6% growth years 4-7 (bioprocessing/biologics recovery tailwind); 4% growth years 8-10; 9% discount rate; 3% terminal growth; $3.39B net debt; 676.36 million shares outstanding.

Reasoning: Avantor is a leveraged life-sciences supply-chain/bioprocessing company working through a post-COVID biopharma destocking cycle and recent large non-cash impairment charges; a normalized FCF base with a near-term recovery phase followed by bioprocessing-driven mid-cycle growth captures the business's trajectory better than trailing GAAP net losses, while the substantial net debt materially reduces per-share equity value versus enterprise value.