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what it is
Aptar makes the pumps, valves, and closures that get drugs, cosmetics, and food products out of the package.
how it gets paid
Last year Aptargroup made $3.8B in revenue. Pharmaceutical pumps was the main engine at $1.75B, or 46% of sales.
why it's growing
Revenue grew 5.4% last year. Annual revenue still reached $3.8B, up 5.4% vs. prior year, which is the weird part.
what just happened
Q4 EPS came in at $1.25, a 1.6% miss versus the $1.27 consensus.
At a glance
A balance sheet — strong enough to weather a downturn
90/100 earnings predictability — you can trust these numbers
24.9x trailing p/e — priced about right
1.5% dividend yield — cash in your pocket every quarter
10.5% return on capital — nothing to write home about
xvary composite: 77/100 — average
What they do
Aptar makes the pumps, valves, and closures that get drugs, cosmetics, and food products out of the package.
Aptar wins by making the part you ignore until it fails. It is the largest domestic supplier of closures, aerosol valves, and personal care and pharmaceutical pumps, and the largest supplier of fragrance and pharmaceutical pumps worldwide, according to the company description. When 46% of your sales come from pharma, reliability is not a nice-to-have. It is the reason your customer keeps reordering.
How they make money
$3.8B
annual revenue · their business grew +5.4% last year
Pharmaceutical pumps
$1.75B
1.0%
Personal care pumps
$0.76B
+10.0%
Fragrance pumps
$0.57B
+10.0%
Food closures
$0.38B
+5.4%
Beverage and household valves
$0.34B
+5.4%
The products that matter
manufactures drug-delivery components
Pharmaceutical Dispensing
$1.75B revenue · 46% of sales
this $1.75B segment is 46% of total sales and includes systems like nasal spray pumps and inhalers. That's the part of the business investors pay up for.
46% of sales
makes beauty dispensing components
Beauty Dispensing
$1.33B revenue · 35% of sales
this $1.33B segment supplies pumps and closures to beauty and personal care customers. It matters because 35% of sales tied to consumer demand can soften faster than pharma.
35% of sales
company-wide profitability profile
Dispensing platform economics
10.3% net margin · 10.5% return on capital
the business keeps 10.3 cents of every revenue dollar and earns 10.5% on capital. That's good enough to look durable, not good enough to hide a real slowdown.
durable, not explosive
Key numbers
46%
pharma sales
Revenue mix → where the money comes from → so what: nearly half the company rides on the segment with the best margins and the most mix risk.
24.9x
trailing p/e
P/E → how many dollars investors pay for $1 of profit → so what: you are already paying up for consistency before 2026 earnings dip.
$1.1B
long-term debt
Long-term debt → money owed over years → so what: it is only 11% of capital, which gives Aptar room to absorb a soft year.
$6.40
2027 EPS est.
EPS estimate → profit per share expected later → so what: the whole bull case assumes 2026 is a pause, not the new normal.
Financial health
A
strength
- balance sheet grade A — very strong financial position
- risk rank 1 — safer than 95% of stocks
- price stability 95 / 100
- long-term debt $1.1B (11% of capital)
- net profit margin 10.8% — keeps 11 cents of every dollar in revenue
- return on equity 12% — $0.12 profit for every $1 investors have put in
A — among the top-rated companies for balance sheet quality.
Total return vs. market
You invested $10,000 in ATR 3 years ago → it's now worth $12,500.
The index would have given you $14,540.
source: institutional data · total return
What just happened
missed estimates
Q4 EPS came in at $1.25, a 1.6% miss versus the $1.27 consensus.
Annual revenue still reached $3.8B, up 5.4% vs. prior year, which is the weird part. Sales grew, but the market cared more about the softer quarterly EPS print and the 2026 pause setup.
$3.8B
revenue
$1.25
eps
22.5%
operating margin
the number that mattered
The number that mattered was $5.60, the 2026 full-year EPS view, because it sits below 2025's $5.74 and breaks the steady-growth story for a year.
-
in 2026, we expect earnings growth to pause at aptar group.
-
the company has a long history of steady profit improvement with occasional disruptions.
-
this year, we believe the high-margin pharmaceutical business will be hurt somewhat by an adverse product mix as sales in the emergency medicine category are likely to trend lower.aptar is also experiencing operational disruptions in its beauty division, as quality problems prompted it to qualify a new supplier.
-
management is implementing productivity measures to help offset these issues.
-
all factors considered, we estimate about a 2% decline in earnings per share, to $5.60. Growth trends over the longer term remain intact.the pharmaceutical business generates about two-thirds of the company's profits, and it allocates a disproportionate amount of its research and development spending to this category. its strategy is to create products that provide more accurate dosing, better ease of use through ergonomic design, or unique and proprietary capabilities. the company's products are used in a wide variety of applications including asthma, analgesics, eye care, digestives, and vaccines, among others.
source: company earnings report, 2026
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What could go wrong
the #1 risk is tariffs and raw material inflation hitting Aptar's component costs.
med
input costs rise faster than pricing
Aptar sells small components at massive volume. If resin, packaging inputs, or tariff costs move against it, the math gets tight quickly.
with a 10.3% net margin, this is not a business with endless room to absorb cost shocks.
med
beauty demand softens
Beauty Dispensing generates $1.33B, or 35% of sales. That segment is more exposed to consumer spending than the pharma side of the house.
a weak beauty cycle would pressure more than one-third of revenue at once.
med
the stability premium stops looking cheap
ATR trades at 24.9x trailing earnings after revenue grew 5.4% last year. That multiple works if the business stays clean and steady. It works less well if growth cools.
when a stock is bought for consistency, even a small crack in that story can pressure the multiple before the income statement fully shows it.
between $1.33B of beauty exposure, 10.3% net margins, and a 24.9x earnings multiple, this is a business that needs steadiness to keep the stock looking reasonable.
source: institutional data · regulatory filings · risk analysis
Pay attention to
margin
whether 10.3% net margin holds
this stock is priced like a stable compounder. If margin slips, the valuation argument gets weaker fast.
earnings
next quarterly update
watch whether quarterly EPS can stay around the recent $1.92 level and whether management keeps the steady-tone narrative intact.
segment risk
beauty demand
35% of sales come from Beauty Dispensing. If consumer spending slows, this is where it will show up first.
flow
institutional selling streak
institutions were net sellers for two straight quarters. If that continues, it tells you the market still sees better uses for capital elsewhere.
Analyst rankings
short-term outlook
average
momentum score 3 — in human-speak, analysts see a stock behaving mostly like the market, not breaking away from it.
risk profile
safest 5%
stability score 1 — lower risk than almost any stock in the data set. That's rare, and the market knows it.
chart momentum
bottom 5%
technical score 5 is the weakest reading. Translation: the business looks safer than the chart does.
earnings predictability
90 / 100
management tends to deliver what the market expects. That kind of reliability is the reason this stock gets a premium multiple.
source: institutional data
Institutional activity
institutions have been net selling for 2 consecutive quarters — 182 buyers vs. 192 sellers in 4q2025. total institutional holdings: 58.6M shares. net selling for 2 quarters.
source: institutional data
Price targets
3-5 year target range
$118
$214
$143
current price
$166
target midpoint · +16% from current · 3-5yr high: $230 (+60% · 14% ann'l return)
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