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olivLaw · US equity research

AptarGroup, Inc. ATR

Plastics Products, NEC · SIC 3089 · Vertical: Plastics Products, NEC (SIC 3089)

146.86USD+3.20% · 1 dayClose 04 Nov 2026

AptarGroup designs and makes dosing, dispensing and protection systems for pharmaceutical, fragrance, cosmetics, food, beverage and home care markets. Net sales reached 3.78 billion USD in fiscal 2025, and in the second quarter of 2026 the company passed one billion USD in quarterly sales for the first time, while margins fell under pressure from product mix and operating costs, and a new CEO took over.

The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).

At the close of 04 Nov 2026, AptarGroup, Inc. (ATR) stock was 146.86 USD (+3.20% on the day), with market capitalisation 9.3 bn USD, P/E 35.6 on diluted EPS of 4.12 USD over the last 12 months, dividend yield 1.31%, beta 0.57, 52-week range 111.94–146.86 USD. Latest reported quarter (Q3 2026): revenue of 1.0 bn USD (+6.0% YoY), net income of 32.6 m USD (−74.5% YoY), diluted EPS 0.51 USD.

Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.

Market cap
9.3 bn USD
shares as of 26 Oct 2026
P/E (TTM)
35.6
Diluted EPS TTM 4.12 · TTM to 30 Sept 2026
E/P (TTM)
2.81%
TTM to 30 Sept 2026
Dividend yield
1.31%
DPS 12m 1.92
Beta (2y)
0.57
Volatility (1y) 25%
52-week range
111.94146.86

Price history

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Technical reading

RSI (14)
81.5
overbought (≥ 70)
Bollinger (20, 2)
112.13 – 144.04
above the upper band · %B 1.09 · band width 24.9%
SMA 50 / 200
126.44 / 127.21
mixed trend
MACD (12, 26, 9)
4.63 / 2.17
MACD above signal

Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).

Performance

CompanyS&P 500vs S&P 500Vertical median
1 month+21.8%−1.1%+22.9 pp—
3 months+7.4%−0.5%+7.8 pp—
6 months+19.8%+4.4%+15.4 pp—
Year to date+20.4%+12.3%+8.1 pp—
1 year+28.6%+13.5%+15.1 pp+36.4%
3 years+17.2%+76.4%−59.3 pp+49.6%
5 years+11.7%+63.7%−52.0 pp—
Max drawdown (1y)
−23.2%
23 Feb 2026 → 08 Jun 2026
Max drawdown (5y)
−36.5%
11 Nov 2024 → 08 Jun 2026
Compound annual growth (5y)
+2.2%
S&P 500 +10.4%

Price returns, dividends excluded.

Quarterly results

Latest quarter: Q3 2026 · 30 Sept 2026

Revenue
1.0 bn USD
+6.0% YoY
Net income
32.6 m USD
−74.5% YoY
Diluted EPS
0.51
−73.4% YoY
net / operating
3.2% / 13.2%

Quarterly margins

Quarterly statements · USD

Fiscal yearQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Revenue848.1 m887.3 m966.0 m961.1 m962.7 m982.9 m1.0 bn1.0 bn
Cost of revenue518.7 m550.9 m599.0 m598.0 m624.5 m631.0 m661.0 m646.2 m
Operating income120.1 m113.4 m144.4 m136.9 m106.3 m107.5 m126.7 m135.0 m
Depreciation & amortisation67.5 m65.6 m69.9 m75.2 m76.6 m75.7 m79.6 m75.5 m
Interest expense11.4 m11.4 m10.9 m13.5 m17.0 m16.9 m16.0 m15.8 m
Pre-tax income116.1 m106.0 m139.7 m154.1 m91.5 m93.8 m115.0 m60.3 m
Income tax15.2 m27.4 m28.0 m26.3 m17.3 m21.0 m27.0 m27.5 m
Net income100.9 m78.8 m111.7 m127.9 m74.3 m72.7 m87.6 m32.6 m
Diluted EPS1.48 ≈1.171.671.921.13 ≈1.121.360.51
Operating cash flow178.2 m82.7 m126.0 m ≈177.6 m ≈183.7 m118.7 m103.5 m ≈167.6 m ≈
Capex66.1 m56.9 m63.4 m ≈63.3 m ≈86.8 m65.4 m57.6 m ≈69.0 m ≈
Dividends paid29.9 m29.9 m29.7 m ≈29.6 m ≈31.5 m30.9 m30.6 m ≈30.5 m ≈
Share repurchases37.3 m80.0 m70.0 m ≈40.0 m ≈175.0 m100.0 m50.0 m ≈30.0 m ≈

≈ derived quarter (cumulative difference / share-days average)

E/P over time

E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.

Today's P/E sits at the 83 percentile of its own 40-quarter history (min 20.7, median 29.9, max 42.6; quarters with earnings only).

Fiscal years

Fiscal year20182019202020212022202320242025
Revenue2.8 bn2.9 bn2.9 bn3.2 bn3.3 bn3.5 bn3.6 bn3.8 bn
Revenue YoY+12.0%+3.4%+2.4%+10.2%+2.9%+5.0%+2.7%+5.4%
Net income194.8 m242.2 m214.0 m244.1 m239.3 m284.5 m374.5 m392.8 m
Net income YoY−11.5%+24.4%−11.6%+14.0%−2.0%+18.9%+31.7%+4.9%
Diluted EPS3.003.663.213.613.594.255.535.89
Diluted EPS YoY−12.0%+22.0%−12.3%+12.5%−0.6%+18.4%+30.1%+6.5%
net %7.0%8.5%7.3%7.6%7.2%8.2%10.5%10.4%
Free cash flow102.4 m272.2 m324.2 m55.5 m168.2 m262.9 m366.9 m299.6 m

Reported results vs expectations

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Balance sheet & financial health

Fiscal year 2025 · 31 Dec 2025

Cash
402.4 m USD
Financial debt
183.9 m USD
Net debt
-218.5 m USD
Equity
2.7 bn USD
Total assets
5.3 bn USD
Debt / equity
0.07x
Current ratio
1.62x
ROE
15.2%
ROA
8.1%
FCF margin
7.9%

Financial statements (source on every figure)

Revenue and net income (USD)

Margins

Income statement · USD

Revenue
2023
3.5 bn
2024
3.6 bn
2025
3.8 bn

SEC (XBRL)· 06 Feb 2026verified

Cost of revenue
2023
2.2 bn
2024
2.2 bn
2025
2.4 bn

SEC (XBRL)· 06 Feb 2026verified

Gross profit
2023
1.3 bn ≈
2024
1.4 bn ≈
2025
1.4 bn ≈

SEC (XBRL)· 06 Feb 2026derived

Research & development
2023
92.8 m
2024
96.1 m
2025
105.1 m

SEC (XBRL)· 06 Feb 2026verified

Operating income
2023
404.0 m
2024
496.5 m
2025
501.0 m

SEC (XBRL)· 06 Feb 2026verified

Depreciation & amortisation
2023
248.6 m
2024
263.8 m
2025
287.4 m

SEC (XBRL)· 06 Feb 2026verified

EBITDA
2023
652.6 m ≈
2024
760.3 m ≈
2025
788.4 m ≈

SEC (XBRL)· 06 Feb 2026derived

Interest expense
2023
40.4 m
2024
43.9 m
2025
52.7 m

SEC (XBRL)· 06 Feb 2026verified

Pre-tax income
2023
374.8 m
2024
469.8 m
2025
491.4 m

SEC (XBRL)· 06 Feb 2026verified

Income tax
2023
90.6 m
2024
95.6 m
2025
98.9 m

SEC (XBRL)· 06 Feb 2026verified

Net income
2023
284.5 m
2024
374.5 m
2025
392.8 m

SEC (XBRL)· 06 Feb 2026verified

Diluted EPS
2023
4.25
2024
5.53
2025
5.89

SEC (XBRL)· 06 Feb 2026verified

Weighted average diluted shares
2023
66.9 m
2024
67.7 m
2025
66.7 m

SEC (XBRL)· 06 Feb 2026verified

Dividend per share
2023
1.58
2024
1.72
2025
1.83

SEC (XBRL)· 06 Feb 2026verified

Balance sheet · USD

Cash
2023
223.6 m
2024
223.8 m
2025
402.4 m

SEC (XBRL)· 06 Feb 2026verified

Inventories
2023
513.1 m
2024
461.8 m
2025
537.8 m

SEC (XBRL)· 06 Feb 2026verified

Current assets
2023
1.5 bn
2024
1.5 bn
2025
1.9 bn

SEC (XBRL)· 06 Feb 2026verified

Property, plant & equipment, net
2023
1.5 bn
2024
1.4 bn
2025
1.7 bn

SEC (XBRL)· 06 Feb 2026verified

Goodwill
2023
963.4 m
2024
936.3 m
2025
1.1 bn

SEC (XBRL)· 06 Feb 2026verified

Intangibles (excl. goodwill)
2023
283.2 m
2024
254.8 m
2025
255.3 m

SEC (XBRL)· 06 Feb 2026verified

Total assets
2023
4.5 bn
2024
4.4 bn
2025
5.3 bn

SEC (XBRL)· 06 Feb 2026verified

Short-term debt
2023
81.8 m
2024
176.0 m
2025
183.9 m

SEC (XBRL)· 06 Feb 2026verified

Current liabilities
2023
1.3 bn
2024
1.1 bn
2025
1.2 bn

SEC (XBRL)· 06 Feb 2026verified

Equity
2023
2.3 bn
2024
2.5 bn
2025
2.7 bn

SEC (XBRL)· 06 Feb 2026verified

Cash flow · USD

Operating cash flow
2023
575.2 m
2024
643.4 m
2025
570.0 m

SEC (XBRL)· 06 Feb 2026verified

Capex
2023
312.3 m
2024
276.5 m
2025
270.4 m

SEC (XBRL)· 06 Feb 2026verified

Free cash flow
2023
262.9 m ≈
2024
366.9 m ≈
2025
299.6 m ≈

SEC (XBRL)· 06 Feb 2026derived

Investing cash flow
2023
-324.5 m
2024
-396.7 m
2025
-331.4 m

SEC (XBRL)· 06 Feb 2026verified

Financing cash flow
2023
-171.6 m
2024
-225.3 m
2025
-77.5 m

SEC (XBRL)· 06 Feb 2026verified

Dividends paid
2023
103.7 m
2024
114.1 m
2025
120.8 m

SEC (XBRL)· 06 Feb 2026verified

Share repurchases
2023
47.6 m
2024
68.6 m
2025
365.0 m

SEC (XBRL)· 06 Feb 2026verified

Computed indicators

Growth

Revenue growth (YoY)
5.4%
computed by olivLawFY 2025
Revenue CAGR 3Y
4.4%
computed by olivLawFY 2022 → FY 2025
Revenue CAGR 5Y
5.2%
computed by olivLawFY 2020 → FY 2025
EBIT growth (YoY)
0.9%
computed by olivLawFY 2025
Net income growth (YoY)
4.9%
computed by olivLawFY 2025
Net income CAGR 3Y
18.0%
computed by olivLawFY 2022 → FY 2025
Net income CAGR 5Y
12.9%
computed by olivLawFY 2020 → FY 2025
EPS growth (YoY)
6.5%
computed by olivLawFY 2025
EPS CAGR 3Y
17.9%
computed by olivLawFY 2022 → FY 2025
EPS CAGR 5Y
12.9%
computed by olivLawFY 2020 → FY 2025
FCF growth (YoY)
-18.4%
computed by olivLawFY 2025

Profitability

Gross margin
35.8%
computed by olivLawTTM to 30 Sept 2026
EBITDA margin
19.6%
computed by olivLawTTM to 30 Sept 2026
EBIT margin
11.9%
computed by olivLawTTM to 30 Sept 2026
Net margin
6.7%
computed by olivLawTTM to 30 Sept 2026
FCF margin
7.4%
computed by olivLawTTM to 30 Sept 2026

Returns

ROE
9.9%
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
ROA
5.2%
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
ROIC
12.7%
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
ROCE
12.2%
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
Payout ratio (EPS)
46.6%
computed by olivLawTTM to 30 Sept 2026
Payout ratio (FCF)
41.9%
computed by olivLawTTM to 30 Sept 2026

Balance sheet

Net debt
25.3 m USD
computed by olivLawbalance sheet at 30 Sept 2026
Net debt / EBITDA
0.0x
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
Debt / equity
0.1x
computed by olivLawbalance sheet at 30 Sept 2026
Interest coverage
7.2x
computed by olivLawTTM to 30 Sept 2026

Liquidity

Current ratio
1.5x
computed by olivLawbalance sheet at 30 Sept 2026
Quick ratio
1.0x
computed by olivLawbalance sheet at 30 Sept 2026
Cash ratio
0.2x
computed by olivLawbalance sheet at 30 Sept 2026

Cash

Operating cash flow
573.5 m USD
computed by olivLawTTM to 30 Sept 2026
Capital expenditure
278.8 m USD
computed by olivLawTTM to 30 Sept 2026
Free cash flow
294.7 m USD
computed by olivLawTTM to 30 Sept 2026
FCF conversion
110.3%
computed by olivLawTTM to 30 Sept 2026
Cash conversion
73.2%
computed by olivLawTTM to 30 Sept 2026

Efficiency

Days sales outstanding
unavailable
input data missing
Days inventory outstanding
80 days
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
Days payables outstanding
unavailable
input data missing
Cash conversion cycle
unavailable
input data missing

Market and valuation

Market capitalisation
9.3 bn USD
computed by olivLawbalance sheet at 30 Sept 2026
Enterprise value
9.3 bn USD
computed by olivLawbalance sheet at 30 Sept 2026
Market cap / net income TTM
34.8x
computed by olivLawTTM to 30 Sept 2026
P/E (TTM)
35.6x
computed by olivLawTTM to 30 Sept 2026
Earnings yield
2.8%
computed by olivLawTTM to 30 Sept 2026
P/B
3.6x
computed by olivLawbalance sheet at 30 Sept 2026
P/S
2.3x
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
EV/EBITDA
11.9x
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
EV/EBIT
19.6x
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
EV/Sales
2.3x
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
P/FCF
31.6x
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
FCF yield
3.2%
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
Dividend yield
1.3%
computed by olivLawTTM to 30 Sept 2026
Shareholder yield (distributions)
5.1%
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026

1 indicators that do not apply to the sector.

Valuation

olivLaw classification

Unattractive profile

Score: 69 / 100

A scoring methodology on indicators and valuation, not investment advice.

(margin_of_safety <= -0.25 & agreement in ['high', 'medium'])

Closing price

146.86 USD

04 Nov 2026Source: olivLaw, closing series

Market cap: 9.3 bn USD

Key indicators

Market capitalisation
9.3 bn USD
computed by olivLawbalance sheet at 30 Sept 2026
P/E (TTM)
35.6x
computed by olivLawTTM to 30 Sept 2026
P/B
3.6x
computed by olivLawbalance sheet at 30 Sept 2026
EV/EBITDA
11.9x
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
ROE
9.9%
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
Net margin
6.7%
computed by olivLawTTM to 30 Sept 2026
Revenue growth (YoY)
5.4%
computed by olivLawFY 2025
Dividend yield
1.3%
computed by olivLawTTM to 30 Sept 2026

Coverage and freshness

31/37 reporting lines present
Latest full fiscal year: 2025
Latest reported period: 30 Sept 2026
Latest balance sheet date: 30 Sept 2026
Share count (cover of the latest filing), as of: 26 Oct 2026
Source: SEC (XBRL)published 30 Oct 2026
verified 2549derived 183

Score by group

  • Balance sheet74
  • Growth68
  • Quality73
  • Returns84
  • Valuation57

Estimated value range

Low
80.00
USD per share
Mid
91.54
USD per share
High
108.61
USD per share
Price: 146.86 USD
The price is above the range
Potential to the central value: -37.7% (value / price − 1)
Margin of safety: -60.4% (1 − price / value)
Agreement between methods: medium · 4 methods used · 3 independent bases

The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 24.05 – 172.15 USD.

Valuation assumptions are editorial choices, not measured; beta is not measured.

Method ranges (USD per share)

— — Mid · ▏ Price

Valuation methods

  • DCF (discounted cash flow)71.55 – 109.58 (Mid 86.33)
    WACC 9.2% · starting FCFF 343.5 m USD · terminal value share of EV 73%
    The WACC × g sensitivity gives the method's bounds; these are not probabilities.
    Reverse DCF: starting growth implied by the price (fading linearly to terminal growth, everything else fixed): 29.7%
  • Peers: EV/EBITDA155.42 – 172.15 (Mid 167.51)
    6 companies used · median multiple 13.6x · quartiles 12.6x – 14.0x
    AWI, CMT, KRT, MYE, NWL, SWIM
  • Peers: P/E88.45 – 107.63 (Mid 96.75)
    5 companies used · median multiple 23.5x · quartiles 21.5x – 26.1x
    AWI, CMT, DSWL, KRT, MYE
  • Dividend discount (DDM)24.05 – 32.34 (Mid 27.58)
Multiple comparisons use the SIC vertical: Plastics Products, NEC (SIC 3089)

Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.

Assumptions (illustrative, editorial)

Risk-free rate
4.3%
Equity risk premium
5.0%
Beta (default)
1.00
Cost of equity
9.3%
Terminal growth
2.5%

Factor scorecard

Unattractive profile · Score 69/100

FactorValueScoreWeight used
ROIC · Quality12.7%71 (vs peers)10%
Net margin · Quality6.7%50 (vs peers)6%
FCF conversion · Quality110.3%100 (on a fixed band)6%
Revenue CAGR 3Y · Growth4.4%36 (on a fixed band)8%
EPS CAGR 3Y · Growth17.9%100 (on a fixed band)8%
Net debt / EBITDA · Balance sheet0.0x71 (vs peers)10%
Interest coverage · Balance sheet7.2x88 (on a fixed band)6%
Current ratio · Balance sheet1.5x59 (on a fixed band)4%
P/E (TTM) · Valuation35.6x43 (vs peers)10%
EV/EBITDA · Valuation11.9x86 (vs peers)10%
FCF yield · Valuation3.2%40 (on a fixed band)8%
Shareholder yield (distributions) · Returns5.1%73 (on a fixed band)6%
Payout ratio (FCF) · Returns41.9%100 (on a fixed band)4%

Score groups

  • Balance sheet74/100 · 3/3 factors with a value
  • Growth68/100 · 2/2 factors with a value
  • Quality73/100 · 3/3 factors with a value
  • Returns84/100 · 2/2 factors with a value
  • Valuation57/100 · 3/3 factors with a value

Memo

AptarGroup, Inc (ATR). Latest full fiscal year: 2025; data up to 2026-09-30.

Figures computed from the financial statements: revenue 3.8 bn USD in 2025; YoY growth 5.4%; net margin 6.7%; ROE 9.9%; net debt/EBITDA 0.0x.

The estimated value range is 80.00–108.61 USD per share (median of 4 methods, agreement: medium); assumptions are illustrative. Against the central value of 91.54 USD, the price of 146.86 USD leaves a potential of -37.7% (value / price − 1) and a margin of safety of -60.4% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.

olivLaw score 69/100, methodological classification: unattractive profile (score, margin of safety and method agreement together; not a judgement of the right price). Not investment advice.

Text generated deterministically from the figures shown; no language model. Not investment advice.

What supports the thesis

  • ROIC: 12.7%
  • FCF conversion: 110.3%
  • EPS CAGR 3Y: 17.9%
  • Net debt / EBITDA: 0.0x
  • Interest coverage: 7.2x
  • EV/EBITDA: 11.9x
  • Shareholder yield (distributions): 5.1%
  • Payout ratio (FCF): 41.9%

What contradicts it

  • The price is above the estimated value range

Versus the vertical median

Plastics Products, NEC (SIC 3089) · same industry (4-digit SIC) · compared with 8 companies

Multiples and returns vs the median

P/E
35.6x
vertical median 26.1x
above median (+36.4%)
EV/EBITDA
11.9x
vertical median 13.7x
below median (−12.8%)
P/S
2.3x
vertical median 1.4x
above median (+62.6%)
P/B
3.6x
vertical median 2.9x
above median (+22.6%)
ROE
9.9%
vertical median 9.6%
at median
Net margin
6.7%
vertical median 6.8%
at median
EBIT margin
11.9%
vertical median 8.0%
above median (+49.4%)
Revenue YoY
5.4%
vertical median -1.3%
above median
Net debt/EBITDA
0.0x
vertical median 2.2x
below median (−98.6%)
Dividend yield
1.3%
vertical median 3.4%
below median (−61.0%)

Price rebased to 100 (monthly, 5 years)

Companies in the vertical

Market capP/EROENet marginRevenue YoY1A / 3A
ENTGEntegris, Inc.21.8 bn55.79.6%11.1%−1.4%+85% / +37%
ATRAptarGroup, Inc9.3 bn35.69.9%6.7%+5.4%+29% / +17%
AWIArmstrong World Industries, Inc.7.4 bn23.536.0%18.4%+12.1%−7% / +107%
NWLNewell Brands Inc2.5 bn—-12.8%-4.4%−5.0%+61% / −23%
MYEMyers Industries, Inc.1.1 bn37.69.7%3.3%−1.3%+58% / +62%
KRTKarat Packaging Inc.1.1 bn21.531.2%10.2%+10.7%+143% / +149%
SWIMLatham Group, Inc.963.2 m100.22.2%1.6%+7.4%+14% / +262%
CMTCore Molding Technologies, Inc.187.1 m26.14.4%2.4%−9.5%+12% / +18%
DSWLDeswell Industries, Inc.46.5 m4.410.0%17.3%−9.3%−19% / +12%

1- and 3-year price returns: for ATR from daily closes (the same as the performance table), for the other companies from month-end closes.

olivLaw engine forecast

The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.

The engine has no published run for this company yet.

Valuation scenarios (editable assumptions)

Illustrative scenarios

Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.

Bear
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Base
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Bull
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Nothing is saved.

Estimated price (USD)

Estimated priceBearBaseBull
1 years
88.69
Total return -39% · Per year -39%
156.81
Total return 8% · Per year 8%
236.22
Total return 63% · Per year 63%
3 years
85.85
Total return -38% · Per year -15%
170.82
Total return 21% · Per year 6%
282.56
Total return 98% · Per year 26%
5 years
83.11
Total return -38% · Per year -9%
186.08
Total return 34% · Per year 6%
338.00
Total return 140% · Per year 19%
What moves the 3-year price the most
  • Exit P/E± 42.70
  • Net margin± 29.89
  • Annual revenue growth± 24.57
  • Annual dilution± 2.51

AI analysis

AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

Possibly outdated: the newest document it read is from 31 Jul 2026; since then the company filed 10-Q (30 Oct 2026), 8-K (29 Oct 2026 · results).

In brief

AptarGroup designs and makes dosing, dispensing and protection systems for pharmaceutical, fragrance, cosmetics, food, beverage and home care markets. Net sales reached 3.78 billion USD in fiscal 2025, and in the second quarter of 2026 the company passed one billion USD in quarterly sales for the first time, while margins fell under pressure from product mix and operating costs, and a new CEO took over.

SWOT

Strengths

  • Global leadership in dosing and protection technologies, with a diversified portfolio across many end markets 1.
  • A broad customer base with no single dependence reduces concentration risk 1.
  • A balance sheet described by management as strong, with cash returned through dividends and share repurchases 3.

Weaknesses

  • High fixed costs can cut margins when plant utilisation falls 1.
  • Margins came under pressure in 2026, mainly from product mix and operating costs 23.
  • Some resins and rubber components for Pharma come from a single source, which can disrupt deliveries 1.

Opportunities

  • Growth in GLP-1 related components and injectables offers a favourable setting for the Pharma segment 12.
  • Demand for sustainable and recyclable solutions could open new product lines 1.
  • Acquisitions and partnerships could extend technology platforms and access to faster growing regions 1.

Threats

  • Tariffs and countermeasures could raise costs and reduce demand 1.
  • Increasingly credible competitors could reduce market share if innovation falls behind 1.
  • Geopolitical risks and Russia related sanctions could disrupt operations and supply chains 1.

Risks

  • Tariffs and trade restrictionshigh

    Tariffs imposed by the United States and countermeasures by other countries could raise costs and make price increases necessary 1.

  • Plant disruptionshigh

    A material failure at one of the plants could affect deliveries and customer relations, especially in clean room operations 1.

  • Single source supplymedium

    Some resins and components for Pharma come from a single source, and interruptions could affect deliveries 1.

  • Fixed costs and utilisationmedium

    When demand falls, unused capacity is charged directly to cost of sales, which can reduce margins 1.

  • Cybersecuritymedium

    Cyberattacks or IT system failures could compromise data and operations, with effects on reputation 1.

Investment thesis

What would need to be true (bull case)

  • If demand for injectables and pharmaceutical dispensing stays strong, the Pharma segment could support margins over the medium term 23.
  • If mix pressures and operating inefficiencies ease, margins could recover in line with management's expectations 3.
  • A diversified portfolio and a solid balance sheet could support dividends and buybacks if operating performance improves 13.

What would break the thesis

  • If margins do not recover, profitability pressure could continue, mainly because of less profitable product mix 2.
  • Tariffs and countermeasures could reduce demand and raise costs, while core growth remains modest 13.
  • The change of leadership and intensifying competition could complicate execution of the strategy in the near term 13.

What to watch

  • Evolution of the adjusted EBITDA margin and recovery of Pharma product mixQ3 2026
  • Delivery against the adjusted EPS guidance range for the third quarter of 2026Q3 2026
  • End of the emergency medicine destocking effect in PharmaQ4 2026

Products, market & competition

AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

Possibly outdated: the newest document it read is from 31 Jul 2026; since then the company filed 10-Q (30 Oct 2026), 8-K (29 Oct 2026 · results).

The business

Aptar's strategy centers on profitable organic growth, especially in high growth regions, managing fixed costs through Global Business Service Centers, improving return on invested capital, and pursuing acquisitions and partnerships that extend technology platforms and geographic reach 1.

Segments

Closures

Closures accounts for 19% of 2025 net sales and focuses on dispensing closures for food, beverage and personal care 1. In the second quarter of 2026 core sales grew 4%, helped by beverages, while margins were hit by new production line ramp-ups 3.

Market context

End markets are diverse, spanning pharmaceutical, fragrance, facial skincare, colour cosmetics, food, beverage, personal care and home care 1. Pharmaceutical demand is supported by the preference for convenient dosing, while consumer markets continue to shift from non-dispensing to dispensing formats 1. Growth remains moderate, and exposure to consumer spending could keep results below expectations if economic conditions weaken 1.

Trends

  • Shift to dispensing formatstailwind

    Consumers and patients increasingly prefer dispensing formats, which supports demand for pumps and dispensing closures 1.

  • Sustainability and reusemixed

    Customers ask for refillable and recyclable solutions, and the move to all-plastic pumps and recycled resins could open product opportunities 1.

  • Tariffs and input costsheadwind

    Tariffs imposed in 2025 raised the cost of some raw materials and components, and the company could be forced to raise prices if tariffs widen 1.

  • Higher value productstailwind

    Higher value products such as coated injectable components and GLP-1 related solutions supported sales in the first half of 2026 2.

Competitive position

Aptar says its markets are highly competitive, with private and public competitors from regional to international scale becoming increasingly credible 1. Competition could reduce market share if the company fails to introduce new products or more sustainable solutions quickly 1.

  • Regional and international competitors not named in the source

    The filings do not name direct competitors and refer only to private and public entities of regional and international reach 1.

  • Pharma pump and valve makers

    Competition in the pharmaceutical segment is described generically without naming companies in the annual report 1.

  • Beverage and food closure suppliers

    In Closures competition comes from regional and international suppliers, not identified in the source 1.

  • Beauty packaging suppliers

    In Beauty competition exists across all product lines, but the sources do not indicate specific companies 1.

News & filings

In the press

The latest news item in our archive is from 21 Sept 2026; the newest SEC filing is from 30 Oct 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.

SEC filings

Sources

  1. [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / AptarGroup, Inc. · 06 Feb 2026
  2. [2] Form 10-Q, quarter ended 2026-06-30 · SEC / AptarGroup, Inc. · 31 Jul 2026
  3. [3] Form 8-K, results release (exhibit 99.1) · SEC / AptarGroup, Inc. · 30 Jul 2026

Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.