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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.

Revenue
$3.3 billion
+0.6% on the year
FY2018FY2025
Operating margin
6.2%
10.2% a year earlier
FY2018FY2025
Net income
$82 million
-51.7% on the year
FY2018FY2025
Diluted EPS
$0.89
-51.6% on the year
FY2018FY2025

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%.
Read the Q4 FY2025 earnings call summary

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.

Avient Corp., the 10-K for 2025

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.

Where it sits in the plastics chain

The filing explains the industry this way. Polymers are generally made by converting natural gas or crude oil derivatives into monomers such as ethylene, propylene and styrene, which are then chained into plastic resins such as polyethylene and polypropylene. Avient does not make those commodity base resins. It sources them and adds further chemistry to formulate materials for a specific use. Some of its materials are thermoplastic composites, in which a resin is combined with glass, carbon or polymer fibers for strength and rigidity.

Two segments

The business reports two segments: Color, Additives and Inks, and Specialty Engineered Materials. Its products include specialty engineered materials, performance fibers, advanced composites, color and additive solutions, performance-enhancing additives, liquid colorants and silicone colorants.

What the materials do

In packaging, colorants and additives make packs lighter, more appealing and easier to recycle, let recycled content be used and protect what is inside. In wire and cable, its materials give electrical insulation and resistance to flame, water and strain. In defense, ultra-high molecular weight fiber goes into tactical vests, hard armor plates, shields, bomb suits, helmets and military vehicles. In healthcare, its plastics are used in intravenous bags, medical tubing, catheters and radiation shielding that replaces lead. In electronics, conductive plastics provide heat transfer, anti-static protection and electromagnetic shielding, including for integrated circuit chip packaging. Other end markets include consumer goods, building and construction, transportation, industrial, energy and telecommunications.

Customers and how it sells

Approximately 61% of 2025 sales were to customers outside the United States, and no customer accounted for more than 3% of consolidated sales. Products are sold mainly through direct sales personnel, distributors and commissioned sales agents, and shipped mostly by truck, though some customers collect from plants or warehouses. The main raw materials are polyolefin and other thermoplastics, titanium dioxide, pigments, specialty additives and ethylene.

History and people

The company was formed as PolyOne Corporation on August 31, 2000, from the consolidation of Geon and Hanna, and renamed itself Avient in 2020. At December 31, 2025 it employed approximately 9,000 people, 33% of them in the U.S. and Canada, 33% in EMEA, 26% in Asia and 8% in Latin America. Approximately 1,100 employees work in technical roles, approximately 120 of them with PhD level educations. Its recordable incident rate in 2025 was 0.60 per 100 full-time workers.

From Avient's annual report on Form 10-K for the year ended 31 December 2025. The filing

Written from the 10-K filed 17 February 2026: read the full 10-K.

The four quarters: Q1 FY2025 · Q2 FY2025 · Q3 FY2025 · Q4 FY2025

Income statement (profit and loss)

$ millionFY2025FY2024FY2023On the yearLast 8 years
Revenue3,2603,2403,143+0.6%
Cost of revenue2,2452,1842,250+2.8%
Gross profit1,0161,057892-3.9%
Gross margin31.2%32.6%28.4%
Research and development96.798.790.3-2.0%
Selling, general and administrative812727696+11.6%
Operating income204329197-38.2%
Operating margin6.2%10.2%6.3%
Interest expense98.6106115-6.6%
Pre-tax income11222587.3-50.3%
Income tax28.154.111.0-48.1%
Effective tax rate25.2%24.1%12.6%
Net income81.917075.7-51.7%
Net margin2.5%5.2%2.4%
Diluted EPS$0.89$1.84$0.83-51.6%
$ million except per share.
Read moreFree 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

$ millionFY2025FY2024FY2023On the yearLast 8 years
Operating cash flow302257202+17.4%
Capital expenditure107122119-12.6%
Free cash flow19513582.2+44.6%
Free cash flow margin6.0%4.2%2.6%
Cash from investing-97.0-121-94.2
Cash from financing-257-121-202
Depreciation and amortisation186180189+3.5%
Share-based compensation9.115.413.2-40.9%
Buybacksn/a0.00.0
Dividends paid98.894.090.2+5.1%
Dividend per share$1.08$1.04$1.00+4.1%
Diluted shares, weighted92m92m92m-0.2%

Balance sheet

$ millionFY2025FY2024FY2023On the yearLast 8 years
Shareholders' equity2,3742,3142,319+2.6%
Non-controlling interest12.115.818.8-23.4%
Debt1,9232,0672,080-7.0%
Operating lease liabilities58.963.543.2-7.2%
Other liabilities1,6571,3511,507+22.7%
Total liabilities and equity6,0265,8115,968+3.7%
Fixed assets9899551,029+3.5%
Goodwill1,7581,6601,719+5.9%
Intangible assets1,4921,4501,591+2.9%
Cash and equivalents510544546-6.2%
Receivables435400400+8.9%
Inventory367347347+5.9%
Other assets474455337+4.2%
Total assets6,0265,8115,968+3.7%

10-K for the year ended 31 December 2025, filed 17 February 2026: the filing.