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1. Company Snapshot

1.a. Company Description

AptarGroup, Inc.provides a range of dispensing, sealing, and material science solutions primarily for the beauty, personal care, home care, prescription drug, consumer health care, injectable, and food and beverage markets.The company operates through three segments: Pharma, Beauty + Home, and Food + Beverage.


The Pharma segment provides pumps for nasal allergy treatments; and metered dose inhaler valves for respiratory ailments, such as asthma and chronic obstructive pulmonary diseases in pharmaceutical market; elastomer for injectable primary packaging components; and active material science solutions.The Beauty + Home segment primarily sells pumps, closures, aerosol valves, accessories, and sealing solutions to the personal care and home care markets; and pumps and decorative components to the beauty market.The Food + Beverage segment offers dispensing and non-dispensing closures, elastomeric flow control components, spray pumps, and aerosol valves to the food and beverage markets.


It sells its products through own sales force, as well as independent representatives and distributors in Asia, Europe, Latin America, and North America.The company has a strategic partnership with PureCycle Technologies LLC to develop ultra-pure recycled polypropylene into dispensing applications; and a collaboration with Sonmol for developing a digital therapies and services platform targeting respiratory and other diseases.AptarGroup, Inc.


was incorporated in 1992 and is headquartered in Crystal Lake, Illinois.

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1.b. Last Insights on ATR

Breaking News: AptarGroup Inc reported Q4 earnings on February 6 2026. The company posted quarterly earnings of $1.25 per share beating estimates of $1.24 per share. Revenue reached $963 million up 14% from a year ago. Despite strong revenue growth profitability was pressured by product mix and higher costs. AptarGroup highlighted momentum in core businesses but faced near-term headwinds in emergency medicine demand. Robert W Baird upgraded AptarGroup to outperform from neutral citing improving growth prospects and raised the price target to $100 from $85.

1.c. Company Highlights

2. Aptar's Q4 Results: Strong Performance Amidst Challenges

Aptar's fourth-quarter reported sales grew 14% to $963 million, driven by a 5% increase in core sales across its portfolio. Adjusted EBITDA margin was approximately 20%, impacted by higher production costs and product mix shifts. For the full year, reported sales increased 5% to $3.8 billion, with core sales up 2%. Reported net income rose 5% to $393 million, and reported earnings per share grew 7% to $5.89, while adjusted earnings per share were $5.74, a 1% decline. The actual EPS for Q4 came out at $1.25, slightly beating estimates of $1.24.

Publication Date: Feb -08

📋 Highlights
  • Q4 Sales Growth:: Reported sales rose 14% to $963 million, with core sales up 5% driven by strong demand.
  • Adjusted EBITDA Margin:: Remained at ~20%, pressured by higher production costs and product mix shifts.
  • Shareholder Returns:: $486 million returned via buybacks ($365 million) and dividends, with a new $600 million buyback authorization.
  • Segment Performance:: Beauty core sales jumped 10% despite operational disruptions, while Pharma grew 4% on dosing tech demand.
  • Margin Recovery Outlook:: EBITDA margins expected to improve in 2H 2026, with full-year guidance in line with long-term targets.

Segment Performance

In the quarter, the Pharma segment's core sales increased 4%, driven by strong demand for dosing and dispensing technologies. The Beauty segment's core sales grew 10%, despite operational disruptions, while the Closures segment's core sales increased 1%. Adjusted EBITDA margins declined in Beauty and Closures due to production costs and mix impacts. The company's nasal and respiratory pipeline is robust, with respiratory ranked as the top-weighted value, driven by the growth rate and revenue base of both categories.

Outlook and Guidance

Aptar expects a 2026 revenue headwind of $65 million from the decline in emergency medicine, particularly in the first half of the year. Despite this, demand for nasal drug delivery technologies remains strong, driven by expansion into new therapeutic areas. For Q1, adjusted earnings per share are expected to be $1.13-$1.21, reflecting a higher interest rate environment and an effective tax rate of 21-23%. For the full year, capital investments are expected to be $260-$280 million, and depreciation and amortization expense is expected to be $320-$330 million.

Valuation and Returns

With a P/E Ratio of 22.23 and an EV/EBITDA of 13.2, Aptar's valuation appears reasonable considering its growth prospects. The company's return on equity (ROE) stands at 19.48%, indicating strong profitability. Aptar has also demonstrated a commitment to returning capital to shareholders, with a dividend yield of 1.38% and a free cash flow yield of 3.46%. Analysts estimate next year's revenue growth at 5.4%, suggesting a positive outlook for the company's top-line performance.

Long-term Prospects

Aptar has sustained cost savings and productivity improvements of over $100 million, resulting in a leaner cost base and improved scalability. The company expects continued strong growth in the Pharma segment, excluding emergency medicine, with solid growth momentum across injectables, systemic nasal drug delivery, and consumer healthcare solutions. The recent FDA approval of CARDAMYST is expected to contribute to growth, with initial pipeline fill expected in 2026.

3. NewsRoom

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Nuance Investments LLC Has $13.76 Million Stock Holdings in AptarGroup, Inc. $ATR

Feb -09

Source: defenseworld.net

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AptarGroup Q4 Earnings Call Highlights

Feb -08

Source: defenseworld.net

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AptarGroup, Inc. (ATR) Q4 2025 Earnings Call Transcript

Feb -06

Source: seekingalpha.com

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AptarGroup (ATR) Reports Q4 Earnings: What Key Metrics Have to Say

Feb -06

Source: zacks.com

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AptarGroup (ATR) Q4 Earnings and Revenues Surpass Estimates

Feb -06

Source: zacks.com

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Aptar Reports Fourth Quarter and Annual 2025 Results

Feb -05

Source: businesswire.com

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Aptar Declares Quarterly Dividend and Announces 2026 Annual Meeting Details

Jan -22

Source: businesswire.com

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Campbell & CO Investment Adviser LLC Makes New Investment in AptarGroup, Inc. $ATR

Jan -22

Source: defenseworld.net

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (2.19%)

6. Segments

Pharma

Expected Growth: 2.5%

AptarGroup's Pharma segment growth of 2.5% is driven by increasing demand for injectable and ophthalmic products, expansion in emerging markets, and growing adoption of prescription drug delivery systems. Additionally, the company's focus on innovation, quality, and customer relationships contributes to its steady growth in the pharma industry.

Beauty

Expected Growth: 1.8%

AptarGroup's Beauty segment growth of 1.8% is driven by increasing demand for premium and sustainable packaging, expansion in emerging markets, and strategic partnerships with key beauty brands. Additionally, the segment benefits from Aptar's innovative dispensing systems and closures, which enhance customer experience and drive brand loyalty.

Closures

Expected Growth: 2.2%

AptarGroup's 2.2% growth in closures is driven by increasing demand for dispensing systems in the beauty and personal care markets, as well as growth in the pharmaceutical market. Additionally, the company's focus on innovation and sustainability, such as its recyclable and reusable packaging solutions, is contributing to its growth.

7. Detailed Products

Dispensing Systems

AptarGroup's Dispensing Systems segment offers a range of dispensing solutions for the beauty, personal care, and pharmaceutical industries.

Closures

AptarGroup's Closures segment provides a variety of closure solutions for the food, beverage, and pharmaceutical industries.

Pharmaceutical Components

AptarGroup's Pharmaceutical Components segment offers a range of components and systems for the pharmaceutical industry.

Active Material Science Solutions

AptarGroup's Active Material Science Solutions segment provides innovative material science solutions for the pharmaceutical industry.

Beauty + Home

AptarGroup's Beauty + Home segment offers a range of dispensing and packaging solutions for the beauty and home care industries.

8. AptarGroup, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

AptarGroup, Inc. operates in a industry where substitutes are available, but they are not a significant threat to the company's business. The company's products are specialized and have a high barrier to entry, which limits the threat of substitutes.

Bargaining Power Of Customers

AptarGroup, Inc. has a diverse customer base, which reduces the bargaining power of individual customers. The company's products are also customized to meet the specific needs of its customers, which increases customer loyalty and reduces the bargaining power of customers.

Bargaining Power Of Suppliers

AptarGroup, Inc. has a moderate level of dependence on its suppliers, but the company has implemented various strategies to mitigate the bargaining power of its suppliers, such as diversifying its supplier base and implementing long-term contracts.

Threat Of New Entrants

The threat of new entrants in the industry is low due to the high barriers to entry, including the need for significant capital investment and specialized expertise. AptarGroup, Inc. has a strong brand reputation and a large customer base, which makes it difficult for new entrants to gain traction in the market.

Intensity Of Rivalry

The intensity of rivalry in the industry is high due to the presence of several established players. AptarGroup, Inc. competes with other companies in the industry, and the company must continually innovate and improve its products and services to maintain its market share.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 33.93%
Debt Cost 4.50%
Equity Weight 66.07%
Equity Cost 6.79%
WACC 6.01%
Leverage 51.36%

11. Quality Control: AptarGroup, Inc. passed 3 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

138.47$

Current Price

138.47$

Potential

-0.00%

Expected Cash-Flows