Avantor, Inc. Earnings Per Share Disclosure
| (in millions, except per share data) | Year ended December 31, 2025 | Year ended December 31, 2024 | Year ended December 31, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Loss (numerator) | Weighted average shares outstanding (denominator) | Loss per share | Earnings (numerator) | Weighted average shares outstanding (denominator) | Earnings per share | Earnings (numerator) | Weighted average shares outstanding (denominator) | Earnings per share | |||||||||||||||||||||||||||||||||||||||||||||
| Basic | $ | (530.2) | 680.6 | $ | (0.78) | $ | 711.5 | 679.6 | $ | 1.05 | $ | 321.1 | 675.6 | $ | 0.48 | ||||||||||||||||||||||||||||||||||||||
| Dilutive effect of stock-based awards | — | — | — | 2.3 | — | 2.8 | |||||||||||||||||||||||||||||||||||||||||||||||
| Diluted | $ | (530.2) | 680.6 | $ | (0.78) | $ | 711.5 | 681.9 | $ | 1.04 | $ | 321.1 | 678.4 | $ | 0.47 | ||||||||||||||||||||||||||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 11, 2026 | Showing above |
| 2024 | Feb 7, 2025 | |
| 2023 | Feb 14, 2024 | |
| 2022 | Feb 14, 2023 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.