Avient (AVNT) FY2025 results: revenue $3.3 billion, up 0.6% on the year
Avient Corp. (AVNT) reported revenue of $3.3 billion for fiscal 2025, the year ended 31 December 2025, up 0.6% on the year before. Net income was $82 million, down 51.7%, and diluted earnings per share $0.89. The figures are the company's own, from the 10-K it filed with the SEC on 17 February 2026.
this yearthe year beforeHover a bar for its figure.
The year in brief
What management said about the year
Guidance figures: 4 new.
- Fourth-quarter sales rose 2%: Fourth-quarter sales were $760.6 million against $746.5 million, and full-year sales were $3,260.2 million against $3,240.4 million. Foreign exchange added 3% to the fourth quarter and 1% to the full year.
- Fourth-quarter adjusted EPS up 14%: Adjusted EPS was $0.56 against $0.49, which the company attributes mainly to organic sales growth in Specialty Engineered Materials and company-wide productivity. GAAP EPS was $0.18 against $0.52.
- Full-year adjusted EPS reached $2.82: Full-year adjusted EPS was $2.82 against $2.66, up 6%. Adjusted EBITDA margin rose 50 basis points to 16.7%, and lower interest expense also contributed.
- Specialty Engineered Materials profit rose: Specialty Engineered Materials operating income was $39.0 million in the fourth quarter against $34.6 million, with sales of $295.5 million against $279.7 million.
- Gross margin fell on higher cost of sales: GAAP gross margin was $229.6 million against $259.5 million, with cost of sales of $531.0 million against $487.0 million. Adjusted gross margin rose to 32.3% of sales from 31.6%.
From this 10-K
Avient formulates specialized plastics materials and the colors and additives that go into them. It buys resins, polymers and additives from large chemical producers and turns them into engineered materials for the companies that design, assemble and process plastic products. It is incorporated in Ohio and headquartered in Avon Lake, Ohio, and has 98 manufacturing sites across North America, South America, Asia, Europe, the Middle East and Africa.
The four quarters: Q1 FY2025 · Q2 FY2025 · Q3 FY2025 · Q4 FY2025
Income statement (profit and loss)
| $ million | FY2025 | FY2024 | FY2023 | On the year | Last 8 years |
|---|---|---|---|---|---|
| Revenue | 3,260 | 3,240 | 3,143 | +0.6% | |
| Cost of revenue | 2,245 | 2,184 | 2,250 | +2.8% | |
| Gross profit | 1,016 | 1,057 | 892 | -3.9% | |
| Gross margin | 31.2% | 32.6% | 28.4% | ||
| Research and development | 96.7 | 98.7 | 90.3 | -2.0% | |
| Selling, general and administrative | 812 | 727 | 696 | +11.6% | |
| Operating income | 204 | 329 | 197 | -38.2% | |
| Operating margin | 6.2% | 10.2% | 6.3% | ||
| Interest expense | 98.6 | 106 | 115 | -6.6% | |
| Pre-tax income | 112 | 225 | 87.3 | -50.3% | |
| Income tax | 28.1 | 54.1 | 11.0 | -48.1% | |
| Effective tax rate | 25.2% | 24.1% | 12.6% | ||
| Net income | 81.9 | 170 | 75.7 | -51.7% | |
| Net margin | 2.5% | 5.2% | 2.4% | ||
| Diluted EPS | $0.89 | $1.84 | $0.83 | -51.6% |
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Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.Cash flow
| $ million | FY2025 | FY2024 | FY2023 | On the year | Last 8 years |
|---|---|---|---|---|---|
| Operating cash flow | 302 | 257 | 202 | +17.4% | |
| Capital expenditure | 107 | 122 | 119 | -12.6% | |
| Free cash flow | 195 | 135 | 82.2 | +44.6% | |
| Free cash flow margin | 6.0% | 4.2% | 2.6% | ||
| Cash from investing | -97.0 | -121 | -94.2 | ||
| Cash from financing | -257 | -121 | -202 | ||
| Depreciation and amortisation | 186 | 180 | 189 | +3.5% | |
| Share-based compensation | 9.1 | 15.4 | 13.2 | -40.9% | |
| Buybacks | n/a | 0.0 | 0.0 | ||
| Dividends paid | 98.8 | 94.0 | 90.2 | +5.1% | |
| Dividend per share | $1.08 | $1.04 | $1.00 | +4.1% | |
| Diluted shares, weighted | 92m | 92m | 92m | -0.2% |
Balance sheet
| $ million | FY2025 | FY2024 | FY2023 | On the year | Last 8 years |
|---|---|---|---|---|---|
| Shareholders' equity | 2,374 | 2,314 | 2,319 | +2.6% | |
| Non-controlling interest | 12.1 | 15.8 | 18.8 | -23.4% | |
| Debt | 1,923 | 2,067 | 2,080 | -7.0% | |
| Operating lease liabilities | 58.9 | 63.5 | 43.2 | -7.2% | |
| Other liabilities | 1,657 | 1,351 | 1,507 | +22.7% | |
| Total liabilities and equity | 6,026 | 5,811 | 5,968 | +3.7% | |
| Fixed assets | 989 | 955 | 1,029 | +3.5% | |
| Goodwill | 1,758 | 1,660 | 1,719 | +5.9% | |
| Intangible assets | 1,492 | 1,450 | 1,591 | +2.9% | |
| Cash and equivalents | 510 | 544 | 546 | -6.2% | |
| Receivables | 435 | 400 | 400 | +8.9% | |
| Inventory | 367 | 347 | 347 | +5.9% | |
| Other assets | 474 | 455 | 337 | +4.2% | |
| Total assets | 6,026 | 5,811 | 5,968 | +3.7% |
10-K for the year ended 31 December 2025, filed 17 February 2026: the filing.