Avient (AVNT)
Market Price (9/13/2026): $41.0 | Market Cap: $3.8 BilSector: Materials | Industry: Specialty Chemicals
Avient (AVNT)
Market Price (9/13/2026): $41.0Market Cap: $3.8 BilSector: MaterialsIndustry: Specialty Chemicals
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.1%, Dividend Yield is 2.6%, FCF Yield is 5.0% Low stock price volatilityVol 12M is 36% Megatrend and thematic driversMegatrends include Advanced Materials, and Circular Economy & Recycling. Themes include Lightweight Composites, Specialty Chemicals for Performance, Show more. | Weak multi-year price returns2Y Excs Rtn is -44%, 3Y Excs Rtn is -56% | Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 0.5% Key risksAVNT key risks include [1] declining organic sales resulting from significant exposure to weak consumer and packaging demand, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.1%, Dividend Yield is 2.6%, FCF Yield is 5.0% |
| Low stock price volatilityVol 12M is 36% |
| Megatrend and thematic driversMegatrends include Advanced Materials, and Circular Economy & Recycling. Themes include Lightweight Composites, Specialty Chemicals for Performance, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -44%, 3Y Excs Rtn is -56% |
| Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 0.5% |
| Key risksAVNT key risks include [1] declining organic sales resulting from significant exposure to weak consumer and packaging demand, Show more. |
Qualitative Assessment
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Avient (AVNT) stock has gained about 20% since 5/31/2026 because of the following key factors:
1. Strong Fiscal Second Quarter 2026 Financial Performance and Increased Full-Year Guidance. Avient reported adjusted earnings per share (EPS) of $0.96 for fiscal Q2 2026 (ended June 30, 2026), exceeding the consensus estimate of $0.89 by 7.9% and marking a 20% increase year-over-year. Quarterly sales also climbed 5.8% to $917 million, surpassing the average analyst estimate of $898.53 million. This robust performance prompted Avient to raise its full-year 2026 adjusted EPS guidance to a range of $3.10 to $3.25, up from its previous projection of $2.93 to $3.17, indicating an anticipated 10% to 15% growth over the prior year.
2. Robust Organic Sales Growth and Significant Margin Expansion. The company's fiscal Q2 2026 results were driven by strong operational execution, with organic sales growing by 4.3%. Both of Avient's business segments, Color, Additives and Inks and Specialty Engineered Materials, contributed to this organic growth. Simultaneously, Avient achieved a record adjusted EBITDA margin of 18.3%, representing an expansion of 110 basis points, which underscores enhanced profitability and efficiency.
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Avient (AVNT) stock has gained about 20% since 5/31/2026 because of the following key factors:
1. Strong Fiscal Second Quarter 2026 Financial Performance and Increased Full-Year Guidance. Avient reported adjusted earnings per share (EPS) of $0.96 for fiscal Q2 2026 (ended June 30, 2026), exceeding the consensus estimate of $0.89 by 7.9% and marking a 20% increase year-over-year. Quarterly sales also climbed 5.8% to $917 million, surpassing the average analyst estimate of $898.53 million. This robust performance prompted Avient to raise its full-year 2026 adjusted EPS guidance to a range of $3.10 to $3.25, up from its previous projection of $2.93 to $3.17, indicating an anticipated 10% to 15% growth over the prior year.
2. Robust Organic Sales Growth and Significant Margin Expansion. The company's fiscal Q2 2026 results were driven by strong operational execution, with organic sales growing by 4.3%. Both of Avient's business segments, Color, Additives and Inks and Specialty Engineered Materials, contributed to this organic growth. Simultaneously, Avient achieved a record adjusted EBITDA margin of 18.3%, representing an expansion of 110 basis points, which underscores enhanced profitability and efficiency.
3. Positive Momentum in the Broader Manufacturing and Materials Sectors. The general economic environment during the period provided a favorable backdrop for Avient. The Materials sector demonstrated strong performance, leading large-cap sectors in August 2026 with a 5.9% gain. Furthermore, the ISM Manufacturing PMI® registered 54.6% in August, indicating the eighth consecutive month of expansion in the manufacturing sector. This expansion was characterized by growing new orders, production, and employment, suggesting a healthy demand environment for industrial materials.
4. Strengthening Financial Position and Favorable Analyst Sentiment. Avient reinforced its financial health by making a voluntary prepayment of $50 million on its term loan in June 2026, contributing to a projected total debt repayment of $100 million to $150 million for the full year 2026. Following the strong fiscal Q2 results and increased guidance, analysts reacted positively. Truist Financial, for instance, raised its price target for Avient from $44.00 to $50.00 while maintaining a "Buy" rating, and Wells Fargo increased its price target from $47.00 to $48.00 with an "Overweight" rating. The consensus rating from Wall Street analysts remains a "Moderate Buy," with an average price target of $46.71.
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Stock Movement Drivers
Fundamental Drivers
The 18.6% change in AVNT stock from 5/31/2026 to 9/12/2026 was primarily driven by a 10.1% change in the company's P/E Multiple.| (LTM values as of) | 5312026 | 9122026 | Change |
|---|---|---|---|
| Stock Price ($) | 34.92 | 41.41 | 18.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,281 | 3,332 | 1.5% |
| Net Income Margin (%) | 4.8% | 5.1% | 6.1% |
| P/E Multiple | 20.3 | 22.3 | 10.1% |
| Shares Outstanding (Mil) | 92 | 92 | 0.0% |
| Cumulative Contribution | 18.6% |
Market Drivers
5/31/2026 to 9/12/2026| Return | Correlation | |
|---|---|---|
| AVNT | 18.6% | |
| Market (SPY) | 1.0% | 35.7% |
| Sector (XLB) | -0.4% | 51.9% |
Fundamental Drivers
The 3.1% change in AVNT stock from 2/28/2026 to 9/12/2026 was primarily driven by a 103.1% change in the company's Net Income Margin (%).| (LTM values as of) | 2282026 | 9122026 | Change |
|---|---|---|---|
| Stock Price ($) | 40.17 | 41.41 | 3.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,260 | 3,332 | 2.2% |
| Net Income Margin (%) | 2.5% | 5.1% | 103.1% |
| P/E Multiple | 44.9 | 22.3 | -50.2% |
| Shares Outstanding (Mil) | 92 | 92 | -0.2% |
| Cumulative Contribution | 3.1% |
Market Drivers
2/28/2026 to 9/12/2026| Return | Correlation | |
|---|---|---|
| AVNT | 3.1% | |
| Market (SPY) | 11.7% | 44.9% |
| Sector (XLB) | -4.2% | 63.3% |
Fundamental Drivers
The 15.0% change in AVNT stock from 8/31/2025 to 9/12/2026 was primarily driven by a 39.7% change in the company's Net Income Margin (%).| (LTM values as of) | 8312025 | 9122026 | Change |
|---|---|---|---|
| Stock Price ($) | 36.00 | 41.41 | 15.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,255 | 3,332 | 2.4% |
| Net Income Margin (%) | 3.7% | 5.1% | 39.7% |
| P/E Multiple | 27.7 | 22.3 | -19.4% |
| Shares Outstanding (Mil) | 92 | 92 | -0.2% |
| Cumulative Contribution | 15.0% |
Market Drivers
8/31/2025 to 9/12/2026| Return | Correlation | |
|---|---|---|
| AVNT | 15.0% | |
| Market (SPY) | 19.5% | 41.5% |
| Sector (XLB) | 12.0% | 66.2% |
Fundamental Drivers
The 12.9% change in AVNT stock from 8/31/2023 to 9/12/2026 was primarily driven by a 285.3% change in the company's P/E Multiple.| (LTM values as of) | 8312023 | 9122026 | Change |
|---|---|---|---|
| Stock Price ($) | 36.67 | 41.41 | 12.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,284 | 3,332 | 1.5% |
| Net Income Margin (%) | 17.5% | 5.1% | -70.9% |
| P/E Multiple | 5.8 | 22.3 | 285.3% |
| Shares Outstanding (Mil) | 91 | 92 | -0.7% |
| Cumulative Contribution | 12.9% |
Market Drivers
8/31/2023 to 9/12/2026| Return | Correlation | |
|---|---|---|
| AVNT | 12.9% | |
| Market (SPY) | 75.7% | 58.1% |
| Sector (XLB) | 29.7% | 73.3% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| AVNT Return | 41% | -38% | 26% | 1% | -21% | 36% | 19% |
| Peers Return | 19% | -15% | 29% | -17% | -20% | 15% | 0% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 11% | 102% |
Monthly Win Rates [3] | |||||||
| AVNT Win Rate | 67% | 50% | 42% | 58% | 33% | 56% | |
| Peers Win Rate | 58% | 52% | 43% | 42% | 48% | 56% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 44% | |
Max Drawdowns [4] | |||||||
| AVNT Max Drawdown | -16% | -50% | -28% | -24% | -36% | -26% | |
| Peers Max Drawdown | -22% | -42% | -19% | -32% | -45% | -30% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: CE, EMN, LYB, WLK, DD.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/11/2026 (YTD)
How Low Can It Go
| Event | AVNT | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -33.7% | -18.8% |
| % Gain to Breakeven | 50.8% | 23.1% |
| Time to Breakeven | 311 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -24.8% | -9.5% |
| % Gain to Breakeven | 33.0% | 10.5% |
| Time to Breakeven | 60 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -45.6% | -24.5% |
| % Gain to Breakeven | 83.7% | 32.4% |
| Time to Breakeven | 776 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -67.1% | -33.7% |
| % Gain to Breakeven | 203.5% | 50.9% |
| Time to Breakeven | 202 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -37.9% | -19.2% |
| % Gain to Breakeven | 61.0% | 23.8% |
| Time to Breakeven | 743 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -15.2% | -3.7% |
| % Gain to Breakeven | 18.0% | 3.9% |
| Time to Breakeven | 41 days | 6 days |
In The Past
Avient's stock fell -33.7% during the 2025 US Tariff Shock. Such a loss loss requires a 50.8% gain to breakeven.
Preserve Wealth
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Asset Allocation
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| Event | AVNT | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -33.7% | -18.8% |
| % Gain to Breakeven | 50.8% | 23.1% |
| Time to Breakeven | 311 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -24.8% | -9.5% |
| % Gain to Breakeven | 33.0% | 10.5% |
| Time to Breakeven | 60 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -45.6% | -24.5% |
| % Gain to Breakeven | 83.7% | 32.4% |
| Time to Breakeven | 776 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -67.1% | -33.7% |
| % Gain to Breakeven | 203.5% | 50.9% |
| Time to Breakeven | 202 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -37.9% | -19.2% |
| % Gain to Breakeven | 61.0% | 23.8% |
| Time to Breakeven | 743 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -29.4% | -12.2% |
| % Gain to Breakeven | 41.7% | 13.9% |
| Time to Breakeven | 78 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -37.0% | -6.8% |
| % Gain to Breakeven | 58.7% | 7.3% |
| Time to Breakeven | 444 days | 15 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -38.3% | -17.9% |
| % Gain to Breakeven | 62.1% | 21.8% |
| Time to Breakeven | 318 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -35.7% | -15.4% |
| % Gain to Breakeven | 55.5% | 18.2% |
| Time to Breakeven | 80 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -81.3% | -53.4% |
| % Gain to Breakeven | 433.6% | 114.4% |
| Time to Breakeven | 259 days | 1085 days |
In The Past
Avient's stock fell -33.7% during the 2025 US Tariff Shock. Such a loss loss requires a 50.8% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Avient (AVNT)
Avient Corporation (AVNT) is a global leader in specialized material solutions, providing advanced formulations, services, and sustainable materials to diverse industries. The company primarily develops and supplies polymer-based products designed to enhance the performance, aesthetics, and processability of various manufactured goods, helping customers create innovative and higher-quality end products.
The company's offerings are structured across three key segments. Its "Color, Additives and Inks" segment provides specialized color concentrates, performance-enhancing additives, and custom inks for thermoplastics and thermosets. These are critical for applications ranging from medical devices, food packaging, and personal care products to transportation components and athletic apparel. The "Specialty Engineered Materials" segment focuses on high-performance polymer formulations and advanced long glass and carbon fiber technologies, tailored for designers and processors seeking specialized solutions for demanding applications.
Finally, Avient's "Distribution" segment serves as a crucial supplier, distributing a comprehensive range of engineering and commodity-grade resins to custom injection molders and extruders. Through these segments, Avient serves a broad spectrum of markets including healthcare, consumer goods, automotive, construction, and electronics, supporting manufacturers that require precise material properties, processing expertise, and innovative solutions to meet evolving market demands.
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Here are a few brief analogies to describe Avient:
- Intel for specialized plastic ingredients.
- 3M for advanced plastic and polymer solutions.
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- Color and Additive Concentrates: Specialized solid and liquid concentrates for coloring and enhancing thermoplastics.
- Dispersions for Thermosets: Formulations providing color and other properties for thermoset materials.
- Specialty Inks: Inks with unique properties for various industrial applications.
- Specialty Polymer Formulations: Customized polymer materials and solutions engineered for specific thermoplastic uses.
- Long Glass and Carbon Fiber Technologies: Advanced composite materials utilizing long glass and carbon fibers for enhanced performance.
- Resin Distribution: Distribution services for a broad range of engineering and commodity grade resins to manufacturers.
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Avient Corporation (AVNT) primarily sells its specialized material solutions, color and additive concentrates, engineered polymers, and resins to other businesses (B2B) rather than directly to individuals. Based on the provided company description, specific names of major customer companies are not disclosed.
However, Avient's products are integral to manufacturing processes across a diverse range of industries, indicating their customers are companies that operate in the following sectors:
- Manufacturers of Consumer and Industrial Goods: Companies producing end products such as medical and pharmaceutical devices, food packaging, personal care and cosmetic items, components for the transportation industry (e.g., automotive), building products, recreational goods, athletic apparel, construction materials, filtration systems, outdoor furniture, and wire and cable.
- Polymer Processors and Formulators: Businesses that specialize in processing thermoplastic and thermoset materials, including custom injection molders, extruders, designers, assemblers, and other processors of polymer-based materials who utilize Avient's specialty formulations, resins, and composite technologies.
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Dr. Ashish K. Khandpur, Chairman, President and Chief Executive Officer
Dr. Ashish K. Khandpur was appointed President and CEO of Avient Corporation effective December 1, 2023, and later assumed the additional role of Chairman of the Board on May 14, 2025. Prior to joining Avient, he spent nearly three decades at 3M, beginning his career there in 1995 as a senior research engineer. His roles at 3M included Chief Technology Officer, where he led a global team of over 8,000 scientists and engineers and managed annual R&D investments close to $1.9 billion. He also served as Group President of 3M's Transportation and Electronics Business, which generated approximately $8.9 billion in revenue in 2022.
Jamie A. Beggs, Senior Vice President, Chief Financial Officer
Jamie A. Beggs joined Avient Corporation as Senior Vice President, Chief Financial Officer in August 2020. In this role, she is responsible for the company's finance, investor relations, information technology, and corporate communications organizations. Ms. Beggs brings over 20 years of experience in finance and business leadership from both public and private organizations, with a focus on specialty materials and diverse end markets. Her previous experience includes serving as Chief Financial Officer of Hunt Consolidated, Inc., a diversified holding company, and various finance and business leadership positions at Celanese Corporation, including Vice President and Corporate Treasurer, and CFO of the materials solutions business.
Woon Keat Moh, Senior Vice President & President of Color, Additives and Inks
Woon Keat Moh serves as Senior Vice President and President of Color, Additives and Inks at Avient. In this role, he oversees the segment that provides specialized color and additive concentrates in solid and liquid form for thermoplastics, dispersions for thermosets, and specialty inks.
Kristen Gajewski, Senior Vice President, Chief Human Resources Officer
Kristen Gajewski holds the position of Senior Vice President, Chief Human Resources Officer at Avient Corporation. She is responsible for the human resources strategy and operations within the company.
Christopher L. Pederson, Senior Vice President, President of Specialty Engineered Materials
Christopher L. Pederson is the Senior Vice President and President of Specialty Engineered Materials for Avient. His segment provides specialty polymer formulations, services, and solutions for designers, assemblers, and processors of thermoplastic materials, as well as long glass and carbon fiber technology to thermoset and thermoplastic composites.
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The key risks to Avient Corporation (AVNT) primarily revolve around its exposure to volatile raw material costs, intense competitive pressures coupled with fluctuating demand in its end markets, and the complexities associated with its extensive global operations.
- Raw Material Cost Volatility and Supply Chain Disruptions: Avient's business is highly dependent on raw materials, a significant portion of which are derived from petrochemicals. Fluctuations in the cost of these raw materials, driven by global market dynamics, pose a considerable risk to the company's profitability, especially if these costs cannot be fully passed on to customers through pricing adjustments. Additionally, the company faces ongoing challenges related to supply chain complexities and potential disruptions in sourcing these essential materials.
- Intense Competitive Pressures and Variable End-Market Demand: Avient operates in a highly competitive specialty materials industry, contending with both large multinational corporations and smaller specialized firms. This competitive landscape can lead to pricing pressures and a potential erosion of market share. Furthermore, the company is susceptible to fluctuations in demand across its diverse end markets, which include consumer goods, packaging, transportation, and construction. Recent financial filings have highlighted specific market softness, such as subdued consumer and packaging demand and challenges in the construction and durables sectors, impacting sales in key segments.
- Global Operating Risks and Macroeconomic Uncertainty: With a significant portion of its sales generated outside the United States, Avient is exposed to various global operating risks. These include the impact of currency fluctuations, political and economic instability in different regions, and the need to comply with diverse legal and regulatory environments. Broad macroeconomic uncertainty, a generally sluggish global economy, and trade policy uncertainties are also cited as potential headwinds that could affect the company's international operations and financial performance.
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Avient Corporation (AVNT) operates in several specialized markets, with its main products and services addressing significant global demand across various industries. The addressable market sizes for Avient's key offerings are outlined below:
Color, Additives and Inks
- Color Concentrates: The global color concentrates market was valued at approximately USD 11.80 billion in 2024 and is projected to reach around USD 22.59 billion by 2034, growing at a Compound Annual Growth Rate (CAGR) of 6.71% from 2025 to 2034. North America held the largest share in the global Color Concentrates market in 2023, generating USD 2.4 billion.
- Polymer Additives: The global plastic additives market size was valued at USD 60.52 billion in 2024 and is expected to reach USD 133.42 billion by 2033, growing at a CAGR of 9.18%.
- Specialty Inks: The global specialty inks market size was valued at USD 344.1 million in 2023 and is expected to reach USD 572.9 million by 2032, exhibiting a CAGR of 5.8%.
Specialty Engineered Materials
- Specialty Polymer Formulations: The global specialty polymers market size was estimated at USD 185.10 billion in 2024 and is projected to reach USD 362.31 billion by 2033, growing at a CAGR of 7.8% from 2025 to 2033.
- Long Glass and Carbon Fiber Composites:
- Long-Fiber Thermoplastics: The global long-fiber thermoplastics market size was approximately USD 5.99 billion in 2024 and is predicted to grow to around USD 17.46 billion by 2034, with a CAGR of roughly 11.3% between 2025 and 2034.
- Carbon Fiber Composites: The global carbon fiber composites market size was estimated at USD 24.37 billion in 2024 and is projected to reach USD 47.91 billion by 2033, growing at a CAGR of 7.8% from 2025 to 2033.
Distribution
- Engineering and Commodity Grade Resins: As a distributor of engineering and commodity grade resins, Avient operates within the broader global polymers market. The global polymer market size was valued at USD 784.44 billion in 2024 and is projected to grow to USD 1341.04 billion by 2034, at a CAGR of 5.40% from 2025 to 2034.
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Avient Corporation (AVNT) is expected to drive future revenue growth over the next 2-3 years through several strategic initiatives and anticipated market improvements:
- Growth in High-Value End Markets: Avient anticipates continued robust demand and sales growth in specialized, high-value markets, particularly defense, healthcare, and telecommunications. These sectors consistently demonstrated double-digit growth in 2025 and are expected to remain significant drivers for the company.
- Innovation and Advanced Material Solutions: The company is focused on developing and launching innovative products, including sustainable solutions like non-PFAS offerings (such as GlideTech and Cesa technologies), and expanding its Dyneema-based businesses. Avient plans to deploy incremental capital over the next two years to increase capacity for these advanced materials, especially for applications like ballistic protection, to meet growing demand.
- Recovery in Broader End-Market Demand: Avient expresses cautious optimism for improving market conditions in 2026, which is expected to positively impact revenue, particularly in its Color, Additives and Inks (CAI) segment. This anticipated recovery is supported by factors such as improving packaging demand, potential interest rate cuts, tax relief, housing affordability initiatives, and expansion in US manufacturing.
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Capital Allocation Decisions for Avient (AVNT) over the Last 3-5 Years
Share Repurchases
- As of September 30, 2025, Avient had approximately 5.0 million shares remaining under existing share repurchase authorizations, which do not have an expiration date. These authorizations were initially approved in August 2008 and subsequently increased by an additional 5 million shares on December 9, 2020.
- Between October 1, 2025, and December 31, 2025, the company did not repurchase any shares.
- Avient prioritizes debt reduction, aiming to lower its net leverage below 2.5x, and share repurchases may be considered once these leverage targets are achieved and if the stock price remains low.
Share Issuance
- As of September 30, 2025, Avient had 91,563,628 common shares outstanding.
- The number of common shares outstanding as of February 4, 2022, was 91,604,913.
Outbound Investments
- In July 2021, Avient acquired Magna Colours Ltd., a leader in sustainable, water-based inks technology for the textile screen printing industry, for $48 million.
- Avient completed the acquisition of DSM Protective Materials (now Avient Protective Materials) in September 2022, finalizing debt financing for the deal in July 2022. This acquisition was part of a strategic shift to align Avient's portfolio with higher-margin specialty materials.
Capital Expenditures
- Capital expenditures were approximately $110 million in 2025.
- Avient anticipates capital expenditures of approximately $140 million in 2026, an increase of about $33 million from 2025.
- The primary focus for capital expenditures in 2026 is to support growth in the defense business and expand Dyneema capacity.
Peer Outperformance in Specialty Chemicals
| Ticker | Name | Rev Growth 3Y Avg | P/E | 1Y | 3Y | 5Y | 5Y Gap |
|---|---|---|---|---|---|---|---|
| AVNT | Avient | 0.5% | 22.3x | 18.0% | 22.4% | -0.7% | — |
| NEU | NewMarket | -0.3% | 18.7x | 7.6% | 107.6% | 196.6% | +197pp |
| ECL | Ecolab | 4.5% | 36.6x | 2.4% | 58.1% | 29.8% | +30pp |
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Copper | 7 | 73.5% | 89.4% | 288.0% | COPR 1050% · TGB 335% · HBM 333% |
| Steel | 13 | 27.6% | 50.2% | 155.9% | HCC 339% · AMR 317% · NWPX 315% |
| Silver | 6 | 106.1% | 346.8% | 149.6% | AYA 240% · HL 228% · SVM 183% |
| Gold | 34 | 28.2% | 198.7% | 148.7% | IAG 762% · CNL 485% · OGC 455% |
| Aluminum | 3 | 68.8% | 129.6% | 57.6% | CENX 239% · KALU 58% · AA 3% |
| Construction Materials | 7 | -20.5% | 20.2% | 44.7% | USLM 345% · CRH 85% · VMC 48% |
| Diversified Metals & Mining | 23 | -13.3% | 1.8% | 17.3% | ATLX 216329% · USAR 52115% · TII 699% |
| Metal, Glass & Plastic Containers | 10 | -6.3% | 13.1% | 5.0% | KRT 158% · MYE 65% · GEF 49% |
| Paper & Plastic Packaging Products & Materials | 7 | 4.5% | 8.3% | -11.6% | PKG 79% · CCK 13% · SON -8% |
| Specialty Chemicals ← | 41 | 7.4% | -2.4% | -15.7% | ODC 459% · NEU 197% · CMT 81% |
| Commodity Chemicals | 12 | 18.6% | -11.1% | -25.3% | HWKN 265% · LXU 81% · MEOH 72% |
| Diversified Chemicals | 4 | -2.5% | -26.6% | -29.7% | CBT 74% · ASH -16% · CC -44% |
| Precious Metals & Minerals | 8 | 38.9% | 186.7% | -30.2% | ASM 596% · PPTA 375% · MTA 36% |
| Fertilizers & Agricultural Chemicals | 10 | -5.6% | -2.9% | -33.3% | CF 218% · CTVA 106% · NTR 50% |
| Paper Products | 3 | -20.3% | -51.4% | -96.0% | CLW -40% · MERC -96% · ITP -96% |
Latest Trefis Analyses
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|---|---|
| ARTICLES |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 65.90 |
| Mkt Cap | 8.4 |
| Rev LTM | 9,288 |
| Op Inc LTM | 602 |
| FCF LTM | 515 |
| FCF 3Y Avg | 342 |
| CFO LTM | 988 |
| CFO 3Y Avg | 1,097 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | -2.0% |
| Rev Chg 3Y Avg | -4.9% |
| Rev Chg Q | 9.3% |
| QoQ Delta Rev Chg LTM | 2.5% |
| Op Inc Chg LTM | -5.2% |
| Op Inc Chg 3Y Avg | -5.8% |
| Op Mgn LTM | 8.3% |
| Op Mgn 3Y Avg | 8.9% |
| QoQ Delta Op Mgn LTM | 0.6% |
| CFO/Rev LTM | 9.8% |
| CFO/Rev 3Y Avg | 11.3% |
| FCF/Rev LTM | 5.9% |
| FCF/Rev 3Y Avg | 5.1% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 8.4 |
| P/S | 0.8 |
| P/Op Inc | 10.6 |
| P/EBIT | 11.1 |
| P/E | 6.6 |
| P/CFO | 10.3 |
| Total Yield | 3.8% |
| Dividend Yield | 2.8% |
| FCF Yield 3Y Avg | 5.3% |
| D/E | 0.7 |
| Net D/E | 0.5 |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Color, Additives and Inks | 2,034 | 2,046 | 2,007 | 2,355 | 2,402 |
| Specialty Engineered Materials | 1,231 | 1,197 | 1,138 | 1,044 | 912 |
| Corporate | -5 | -3 | -3 | -2 | 2 |
| Total | 3,260 | 3,240 | 3,143 | 3,397 | 3,316 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Color, Additives and Inks | 301 | 296 | 260 | 301 | 303 |
| Specialty Engineered Materials | 164 | 167 | 142 | 140 | 126 |
| Corporate | -261 | -134 | -206 | -198 | -149 |
| Total | 204 | 329 | 197 | 243 | 280 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Color, Additives and Inks | 2,602 | 2,574 | 2,657 | 2,703 | 2,965 |
| Specialty Engineered Materials | 2,578 | 2,452 | 2,533 | 2,526 | 771 |
| Corporate | 845 | 785 | 779 | 855 | 876 |
| Distribution | 385 | ||||
| Total | 6,026 | 5,811 | 5,968 | 6,085 | 4,997 |
Price Behavior
| Market Price | $41.41 | |
| Market Cap ($ Bil) | 3.8 | |
| First Trading Date | 09/13/1999 | |
| Distance from 52W High | -10.0% | |
| 50 Days | 200 Days | |
| DMA Price | $40.35 | $36.33 |
| DMA Trend | up | up |
| Distance from DMA | 2.6% | 14.0% |
| 3M | 1YR | |
| Volatility | 45.8% | 36.2% |
| Downside Capture | 101.32 | 114.94 |
| Upside Capture | 139.07 | 112.98 |
| Correlation (SPY) | 34.5% | 41.6% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.76 | 1.78 | 1.19 | 1.37 | 1.19 | 1.35 |
| Up Beta | 1.08 | 1.37 | 0.64 | 1.41 | 1.43 | 1.44 |
| Down Beta | 7.96 | 3.27 | 1.81 | 1.56 | 1.10 | 1.30 |
| Up Capture | 279% | 229% | 179% | 131% | 121% | 181% |
| Bmk +ve Days | 10 | 21 | 32 | 68 | 138 | 427 |
| Stock +ve Days | 11 | 23 | 34 | 59 | 124 | 365 |
| Down Capture | -69% | 93% | 66% | 129% | 110% | 108% |
| Bmk -ve Days | 11 | 21 | 32 | 59 | 113 | 324 |
| Stock -ve Days | 10 | 19 | 30 | 67 | 124 | 380 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with AVNT | |
|---|---|---|---|---|
| AVNT | 18.0% | 36.4% | 0.51 | - |
| Sector ETF (XLB) | 14.0% | 17.9% | 0.58 | 66.1% |
| Equity (SPY) | 18.3% | 12.8% | 1.03 | 41.7% |
| Gold (GLD) | 19.0% | 29.2% | 0.59 | 19.0% |
| Commodities (DBC) | 48.3% | 20.6% | 1.80 | -26.3% |
| Real Estate (VNQ) | 7.6% | 13.6% | 0.29 | 36.5% |
| Bitcoin (BTCUSD) | -32.4% | 43.8% | -0.77 | 17.3% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with AVNT | |
|---|---|---|---|---|
| AVNT | -1.1% | 37.7% | 0.06 | - |
| Sector ETF (XLB) | 5.5% | 19.1% | 0.18 | 74.4% |
| Equity (SPY) | 12.5% | 17.2% | 0.55 | 63.6% |
| Gold (GLD) | 18.7% | 18.8% | 0.81 | 14.3% |
| Commodities (DBC) | 11.4% | 19.5% | 0.46 | 8.2% |
| Real Estate (VNQ) | 0.7% | 18.9% | -0.07 | 57.8% |
| Bitcoin (BTCUSD) | 9.4% | 52.6% | 0.36 | 28.6% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with AVNT | |
|---|---|---|---|---|
| AVNT | 4.3% | 40.2% | 0.24 | - |
| Sector ETF (XLB) | 9.8% | 20.7% | 0.42 | 71.7% |
| Equity (SPY) | 15.2% | 17.9% | 0.72 | 62.0% |
| Gold (GLD) | 12.3% | 16.3% | 0.62 | 8.0% |
| Commodities (DBC) | 8.7% | 18.1% | 0.39 | 20.1% |
| Real Estate (VNQ) | 4.7% | 20.7% | 0.19 | 54.5% |
| Bitcoin (BTCUSD) | 63.2% | 66.2% | 1.03 | 20.9% |
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Returns Analyses
Earnings Returns History
Updated 9/9/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/6/2026 | 12.5% | 19.5% | 13.2% |
| 5/7/2026 | -3.5% | -9.3% | -10.3% |
| 2/12/2026 | 2.4% | 4.0% | -16.1% |
| 11/5/2025 | 0.0% | -4.7% | -1.9% |
| 8/1/2025 | 7.0% | 5.1% | 18.5% |
| 5/6/2025 | 4.3% | 14.7% | 7.3% |
| 2/13/2025 | 2.9% | 5.4% | -3.5% |
| 10/31/2024 | -3.9% | 5.0% | 5.6% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 17 | 18 | 17 |
| # Negative | 7 | 6 | 7 |
| Median Positive | 4.2% | 5.2% | 7.3% |
| Median Negative | -3.9% | -4.4% | -3.6% |
| Max Positive | 12.5% | 19.5% | 18.5% |
| Max Negative | -18.9% | -16.2% | -16.1% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/6/2026 | 12.5% | 19.5% | 13.2% |
| 5/7/2026 | -3.5% | -9.3% | -10.3% |
| 2/12/2026 | 2.4% | 4.0% | -16.1% |
| 11/5/2025 | 0.0% | -4.7% | -1.9% |
| 8/1/2025 | 7.0% | 5.1% | 18.5% |
| 5/6/2025 | 4.3% | 14.7% | 7.3% |
| 2/13/2025 | 2.9% | 5.4% | -3.5% |
| 10/31/2024 | -3.9% | 5.0% | 5.6% |
| 8/6/2024 | 9.8% | 9.7% | 14.7% |
| 5/7/2024 | 4.2% | 2.4% | 1.1% |
| 2/14/2024 | 7.7% | 7.9% | 12.8% |
| 11/2/2023 | 1.4% | 3.4% | 12.9% |
| 7/27/2023 | -4.4% | -4.1% | -11.7% |
| 5/3/2023 | -0.7% | 0.2% | -3.6% |
| 2/15/2023 | 9.7% | 8.6% | 0.8% |
| 11/2/2022 | -18.9% | -16.2% | 0.5% |
| 7/26/2022 | -4.8% | -1.7% | 5.8% |
| 4/20/2022 | 12.3% | 4.6% | -1.4% |
| 2/8/2022 | 4.5% | 8.0% | 1.0% |
| 10/28/2021 | 2.8% | 4.1% | 7.3% |
| 7/30/2021 | -0.4% | -3.9% | 7.7% |
| 4/30/2021 | 1.1% | 6.2% | 3.5% |
| 2/9/2021 | 0.8% | 3.5% | 14.8% |
| 11/3/2020 | 2.2% | 8.1% | 15.6% |
| SUMMARY STATS | |||
| # Positive | 17 | 18 | 17 |
| # Negative | 7 | 6 | 7 |
| Median Positive | 4.2% | 5.2% | 7.3% |
| Median Negative | -3.9% | -4.4% | -3.6% |
| Max Positive | 12.5% | 19.5% | 18.5% |
| Max Negative | -18.9% | -16.2% | -16.1% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/06/2026 | 10-Q |
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 02/17/2026 | 10-K |
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 08/01/2025 | 10-Q |
| 03/31/2025 | 05/06/2025 | 10-Q |
| 12/31/2024 | 02/18/2025 | 10-K |
| 09/30/2024 | 11/05/2024 | 10-Q |
| 06/30/2024 | 08/06/2024 | 10-Q |
| 03/31/2024 | 05/07/2024 | 10-Q |
| 12/31/2023 | 02/20/2024 | 10-K |
| 09/30/2023 | 11/02/2023 | 10-Q |
| 06/30/2023 | 07/27/2023 | 10-Q |
| 03/31/2023 | 05/03/2023 | 10-Q |
| 12/31/2022 | 02/22/2023 | 10-K |
| 09/30/2022 | 11/02/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/06/2026 | 10-Q |
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 02/17/2026 | 10-K |
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 08/01/2025 | 10-Q |
| 03/31/2025 | 05/06/2025 | 10-Q |
| 12/31/2024 | 02/18/2025 | 10-K |
| 09/30/2024 | 11/05/2024 | 10-Q |
| 06/30/2024 | 08/06/2024 | 10-Q |
| 03/31/2024 | 05/07/2024 | 10-Q |
| 12/31/2023 | 02/20/2024 | 10-K |
| 09/30/2023 | 11/02/2023 | 10-Q |
| 06/30/2023 | 07/27/2023 | 10-Q |
| 03/31/2023 | 05/03/2023 | 10-Q |
| 12/31/2022 | 02/22/2023 | 10-K |
| 09/30/2022 | 11/02/2022 | 10-Q |
| 06/30/2022 | 07/26/2022 | 10-Q |
| 03/31/2022 | 04/27/2022 | 10-Q |
| 12/31/2021 | 02/22/2022 | 10-K |
| 09/30/2021 | 10/28/2021 | 10-Q |
| 06/30/2021 | 07/30/2021 | 10-Q |
| 03/31/2021 | 04/30/2021 | 10-Q |
| 12/31/2020 | 02/25/2021 | 10-K |
| 09/30/2020 | 11/03/2020 | 10-Q |
| 06/30/2020 | 07/22/2020 | 10-Q |
| 03/31/2020 | 04/21/2020 | 10-Q |
| 12/31/2019 | 02/19/2020 | 10-K |
| 09/30/2019 | 10/22/2019 | 10-Q |
Recent Forward Guidance
Updated 8/7/2026Latest: Q2 2026 Earnings Reported 8/6/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Adjusted EBITDA | Reported | 575.00 Mil | 589.00 Mil | 603.00 Mil | 3.3% | Raised | Guidance: 570.00 Mil for 2026 | |
| 2026 Debt Repayment | Reported | 100.00 Mil | 125.00 Mil | 150.00 Mil | ||||
| 2026 Adjusted EPS | Reported | 3.1 | 3.17 | 3.25 | 4.1% | Raised | Guidance: 3.05 for 2026 | |
| 2026 Adjusted EPS Growth | Reported | 10.0% | 12.5% | 15.0% | ||||
Prior: Q1 2026 Earnings Reported 5/7/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q2 2026 Adjusted EPS | Reported | 0.89 | 9.9% | Higher New | Guidance: 0.81 for Q1 2026 | |||
| 2026 Adjusted EBITDA | Reported | 555.00 Mil | 570.00 Mil | 585.00 Mil | Affirmed | Guidance: 570.00 Mil for 2026 | ||
| 2026 Adjusted EPS | Reported | 2.93 | 3.05 | 3.17 | 0 | Affirmed | Guidance: 3.05 for 2026 | |
Q4 2025 Earnings Reported 2/12/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2026 Adjusted EPS | Reported | 0.81 | ||||||
| 2026 Adjusted EBITDA | Reported | 555.00 Mil | 570.00 Mil | 585.00 Mil | 4.6% | Higher New | Guidance: 545.00 Mil for 2025 | |
| 2026 Adjusted EPS | Reported | 2.93 | 3.05 | 3.17 | 8.2% | Higher New | Guidance: 2.82 for 2025 | |
| 2026 Free Cash Flow | Reported | 200.00 Mil | ||||||
Q3 2025 Earnings Reported 11/5/2025
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2025 Adjusted EBITDA | Reported | 540.00 Mil | 545.00 Mil | 550.00 Mil | -1.4% | Lowered | Guidance: 552.50 Mil for 2025 | |
| 2025 Debt Repayment | Reported | 150.00 Mil | 0 | Affirmed | Guidance: 150.00 Mil for 2025 | |||
| 2025 Adjusted EPS | Reported | 2.77 | 2.82 | 2.87 | 0 | Affirmed | Guidance: 2.82 for 2025 | |
Industry Resources
| Materials Resources |
| Chemical & Engineering News (C&EN) |
| Mining.com |
| Plastics News |
| Specialty Chemicals Resources |
| SpecialChem |
| Chemical Week |
| ICIS |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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