Avient vs NewMarket
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The short version
- Avient is the larger business, with $3.3B of revenue in fiscal 2025 against $2.7B for NewMarket.
- Avient grew revenue faster (0.6%, against −2.2%).
- NewMarket kept more of each dollar of sales as operating profit (20.0% operating margin, against 6.2%).
- NewMarket turned more of its sales into free cash flow (18.0% FCF margin, against 6.0%).
- NewMarket earned a higher return on the capital invested in it (16.3%, against 4.0%).
- Investors pay more for each dollar of Avient’s earnings: a P/E of 22.2x against 18.7x for NewMarket.
| Latest fiscal year | AVNT · FY25 | NEU · FY25 |
|---|---|---|
| Size | ||
| Market cap | $3.8B | $8.0B |
| Revenue | $3.3B | $2.7B |
| Free cash flow | $195M | $491M |
| Net income | $81.9M | $419M |
| Growth | ||
| Revenue growth | 0.6% | −2.2% |
| 5-year growth | 8.0% | 6.3% |
| Share count change | −0.2% | −1.8% |
| Profitability | ||
| Gross margin | 31.2% | 31.5% |
| Operating margin | 6.2% | 20.0% |
| Net margin | 2.5% | 15.4% |
| FCF margin | 6.0% | 18.0% |
| Return on capital | 4.0% | 16.3% |
| Return on equity | 3.5% | 25.9% |
| Balance sheet | ||
| Net debt | $1.4B | $824M |
| Net debt / EBITDA | 3.6x | 1.2x |
| Dividends and buybacks | $98.8M | $183M |
| Valuation & quality | ||
| P/E | 22.2x | 18.7x |
| Piotroski F-score | 6 | 5 |
Revenue
FY16
AVNT $2.9B
NEU $2.0B
FY17
AVNT $2.6B
NEU $2.2B
FY18
AVNT $2.9B
NEU $2.3B
FY19
AVNT $2.9B
NEU $2.2B
FY20
AVNT $2.2B
NEU $2.0B
FY21
AVNT $3.3B
NEU $2.4B
FY22
AVNT $3.4B
NEU $2.8B
FY23
AVNT $3.1B
NEU $2.7B
FY24
AVNT $3.2B
NEU $2.8B
FY25
AVNT $3.3B
NEU $2.7B
AVNT
NEU
Operating margin
FY16
AVNT 9.1%
NEU 17.3%
FY17
AVNT 6.7%
NEU 14.7%
FY18
AVNT 6.2%
NEU 12.8%
FY19
AVNT 5.5%
NEU 15.4%
FY20
AVNT 5.0%
NEU 15.5%
FY21
AVNT 8.4%
NEU 10.9%
FY22
AVNT 7.2%
NEU 12.9%
FY23
AVNT 6.3%
NEU 17.9%
FY24
AVNT 10.2%
NEU 21.2%
FY25
AVNT 6.2%
NEU 20.0%
AVNT
NEU
Free cash flow
FY16
AVNT $143M
NEU $211M
FY17
AVNT $123M
NEU $94.1M
FY18
AVNT $178M
NEU $123M
FY19
AVNT $219M
NEU $278M
FY20
AVNT $158M
NEU $191M
FY21
AVNT $133M
NEU $86.4M
FY22
AVNT $293M
NEU $52.5M
FY23
AVNT $82.2M
NEU $529M
FY24
AVNT $135M
NEU $462M
FY25
AVNT $195M
NEU $491M
AVNT
NEU
Return on capital
FY16
AVNT 11.8%
NEU 31.9%
FY17
AVNT 10.1%
NEU 20.4%
FY18
AVNT 9.1%
NEU 20.6%
FY19
AVNT 6.9%
NEU 21.8%
FY20
AVNT 5.1%
NEU 20.9%
FY21
AVNT 7.0%
NEU 14.6%
FY22
AVNT 7.0%
NEU 17.9%
FY23
AVNT 4.4%
NEU 22.9%
FY24
AVNT 6.5%
NEU 23.3%
FY25
AVNT 4.0%
NEU 16.3%
AVNT
NEU
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.