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Chemicals · Basic Materials · Fiscal year ends Dec 31
Avient reported revenue of $3.3B in the fiscal year ended Dec 2025, up 0.6% from the year before. Operating income was $204M, an operating margin of 6.2%, and net income was $82M. Operating cash flow of $302M less capital expenditure of $107M left free cash flow of $195M. Net debt was $1.4B.
Ranks among the 18 chemicals companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 3,316 | 3,397 | 3,143 | 3,240 | 3,260 |
| Cost of revenue | 2,372 | 2,514 | 2,250 | 2,184 | 2,245 |
| Gross profit | 944 | 883 | 893 | 1,057 | 1,016 |
| Research & development | 83.2 | 84.9 | 90.3 | 98.7 | 96.7 |
| Selling, general & admin | 664 | 639 | 696 | 727 | 812 |
| Operating income | 280 | 243 | 197 | 329 | 204 |
| Net interest incomeBanks | −75.2 | −120 | −115 | – | – |
| Pre-tax income | 204 | 63.8 | 87.3 | 225 | 112 |
| Income tax | 51.9 | −19.3 | 11.0 | 54.1 | 28.1 |
| Net income | 231 | 703 | 75.7 | 170 | 81.9 |
| Diluted EPS | 2.51 | 7.63 | 0.83 | 1.84 | 0.89 |
| Diluted shares | 92.1 | 92.2 | 91.8 | 92.0 | 91.8 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 601 | 641 | 546 | 545 | 511 |
| Receivables | 440 | 441 | 400 | 400 | 435 |
| Inventory | 306 | 373 | 347 | 347 | 367 |
| Current assets | 1,827 | 1,570 | 1,408 | 1,422 | 1,401 |
| Net PP&E | 672 | 1,049 | 1,029 | 955 | 989 |
| Goodwill | 1,285 | 1,672 | 1,719 | 1,660 | 1,758 |
| Total assets | 4,997 | 6,085 | 5,969 | 5,811 | 6,026 |
| Payables | 430 | 454 | 432 | 417 | 410 |
| Current liabilities | 941 | 869 | 774 | 756 | 846 |
| Short-term debt | 8.6 | 2.2 | 9.5 | 7.7 | 0.5 |
| Long-term debt | 1,850 | 2,177 | 2,071 | 2,059 | 1,923 |
| Total liabilities | 3,207 | 3,732 | 3,631 | 3,482 | 3,639 |
| Shareholders' equity | 1,775 | 2,335 | 2,319 | 2,314 | 2,374 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 234 | 398 | 202 | 257 | 302 |
| Capital expenditure | 101 | 106 | 119 | 122 | 107 |
| Free cash flow | 133 | 293 | 82.2 | 135 | 195 |
| Depreciation & amortisation | 144 | 163 | 189 | 180 | 186 |
| Stock-based compensation | 11.2 | 13.2 | 13.2 | 15.4 | 9.1 |
| Acquisitions | 47.6 | 1,426 | 0.0 | 0.0 | – |
| Share buybacks | 4.2 | 36.4 | 0.0 | 0.0 | – |
| Dividends paid | 77.7 | 86.8 | 90.2 | 94.0 | 98.8 |
| Dividend per share | 0.88 | 0.96 | 1.00 | 1.04 | 1.08 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 2.5% | −7.5% | 3.1% | 0.6% |
| Operating income growth (YoY) | – | −13.0% | −19.1% | 67.3% | −38.2% |
| EPS growth (YoY) | – | 204.0% | −89.1% | 121.7% | −51.6% |
| Gross margin | 28.5% | 26.0% | 28.4% | 32.6% | 31.2% |
| Operating margin | 8.4% | 7.2% | 6.3% | 10.2% | 6.2% |
| Net margin | 7.0% | 20.7% | 2.4% | 5.2% | 2.5% |
| Return on equityBlank when equity is negative | 13.0% | 30.1% | 3.3% | 7.3% | 3.4% |
| ROCEEBIT ÷ (assets − current liabilities) | 6.9% | 4.7% | 3.8% | 6.5% | 3.9% |
| Free cash flow margin | 4.0% | 8.6% | 2.6% | 4.2% | 6.0% |
| Cash conversion (CFO ÷ net income) | 1.01x | 0.57x | 2.66x | 1.52x | 3.68x |
| Receivable days | 48 | 47 | 46 | 45 | 49 |
| Inventory days | 47 | 54 | 56 | 58 | 60 |
| Payable days | 66 | 66 | 70 | 70 | 67 |
| Debt ÷ equity | 1.05x | 0.93x | 0.90x | 0.89x | 0.81x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 1,258 | 1,538 | 1,534 | 1,523 | 1,413 |
| Current ratio | 1.94x | 1.81x | 1.82x | 1.88x | 1.66x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.