Avantor vs Waters: revenue, profit, margins and growth compared
Avantor brought in $6.6B of revenue in fiscal 2025, Waters $3.2B in fiscal 2025. Revenue changed by -3.4% at Avantor and +7.0% at Waters on the year before, so Waters grew faster. Avantor kept -8.1% of its revenue as net profit, Waters 20.3%. Free cash flow was $495M at Avantor and $539.8M at Waters.
Fiscal years as each company reports them; the two may end in different months.
Questions about Avantor and Waters
Which is bigger by revenue, Avantor or Waters?
Avantor is bigger by revenue: $6.6B in fiscal 2025, against $3.2B for Waters in fiscal 2025.
Which keeps more of its revenue as profit, Avantor or Waters?
Avantor had a net margin of -8.1% in fiscal 2025; Waters had 20.3% in fiscal 2025.
Which grew revenue faster, Avantor or Waters?
In their latest fiscal years revenue changed by -3.4% at Avantor and +7.0% at Waters.
Where do these numbers come from?
From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.