Cost ManagementOver-delivering on cost-out actions and achieving 121% FCF conversion and solid deleveraging provide a positive backdrop for the Buy thesis.
Financial StrategyThe company's strategy includes using cash flow from its distribution business to invest in fast-growing, higher-margin products, supporting long-term growth.
Operational PerformanceAvantor's adjusted EBITDA margins are expected to expand, despite headwinds, signaling strong operational performance.