AptarGroup Inc.
ATRFinancial Analysis · Updated May 18, 2026 · Coverage 2026-Q2
Latest Q Revenue
$982.9M
Q1 2026 · Beat consensus by 2.8%
TTM ROIC
12%
FY2025 · NOPAT / Invested Capital (Total Equity + Net Debt) · WACC ~8.3% · Moat spread +3.7pp
Financial Snapshot
ticker: ATR step: 04 generated: 2026-05-13 source: quick-research
AptarGroup Inc. (ATR) — Financial Snapshot
Income Statement Summary
| Metric | FY2022 | FY2023 | FY2024 | YoY |
|---|---|---|---|---|
| Revenue | $3.33B | $3.49B | $3.58B | +2.7% |
| Gross Margin | ~35% | ~37% | ~38% | +1pp |
| Operating Margin | ~9% | ~11% | ~11% | flat |
| Net Income | ~$200M | ~$240M | ~$315M | +32% |
| EPS (adj. diluted) | ~$3.50 | ~$4.20 | ~$5.50 | +31% |
TTM (early 2026): Revenue ~$3.78B (+13.5% YoY); gross margin ~38%; operating margin ~11%
Cash Flow & Balance Sheet (FY2024)
| Metric | Value |
|---|---|
| Operating Cash Flow | ~$480M |
| Free Cash Flow | ~$368M (+40% vs. FY2023's $263M) |
| Cash & Equivalents | ~$250M |
| Total Debt | ~$1.6B |
Key Ratios (approximate)
- P/E: ~21x (fwd) | EV/EBITDA: ~15x | FCF Yield: ~5%
- Revenue Growth (FY2024): +2.7% | FCF Margin: ~10%
Growth Profile
AptarGroup has compounded revenue at ~5% annually and earnings faster through margin expansion. FY2024 saw 32% net income growth on modest top-line growth (~3%), driven by mix shift toward higher-margin Pharma (now the largest segment) and operating leverage. The GLP-1 injectable components opportunity is accelerating — injectables grew 24% in Q4 2024. Beauty also surged 24% driven by fragrance dispensing demand. Q1 2026 showed margin compression, and the stock is down 20%+ in 2025.
Forward Estimates
- FY2025 adj. EPS: ~$6.00–$6.50 (consensus, subject to revision)
- Analyst avg. price target: ~$170 (+42% upside from ~$120)
- GLP-1 injectables CAGR: ~9%+ through 2028
- Active material science (AMS) solutions: ~10% CAGR, 11% of Pharma revenue
Deeper Financial Analysis
The fundamental tier adds 9 additional research dimensions for $ATR.
Revenue Breakdown
Segment revenue, geographic mix, product-line contribution margins, and cohort dynamics.
Financial Trends
Quarter-over-quarter momentum, leading indicators, and inflection point analysis.
Balance Sheet
Debt structure, liquidity runway, dilution risk, and working capital dynamics.
Capital Allocation
Buyback cadence, M&A appetite, dividend policy, and reinvestment priorities.
Returns on Capital (ROIC)
Multi-year ROIC vs. WACC, marginal returns on reinvestment, sales-to-invested-capital efficiency, and moat spread.
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