Current Stock Price: ~$124–$129 (as of February 6, 2026 trading)
Market Capitalization: Approximately $8.1–$8.4 billion
Valuation: Aptar trades at a forward P/E ratio in the low-to-mid 20s range based on consensus estimates. This multiple reflects a balance between resilient Pharma segment profitability and near-term margin pressures in other segments.
Fourth Quarter and Full Year 2025 Financial Performance
Aptar reported fourth-quarter sales of $963 million, surpassing consensus estimates around $879–$891 million. Adjusted earnings per share (EPS) of $1.25 beat consensus of approximately $1.23–$1.24. For the full year 2025, reported sales rose 5% to $3.8 billion, while reported net income increased 5% to $393 million and EPS rose 7% to $5.89.
| Metric | Q4 2024 | Q4 2025 | YoY Change |
| Net Sales | $848M | $963M | +14% |
| Core Sales Growth | — | +5% | — |
| Adjusted EPS | $1.62* | $1.25 | -23% |
| Adj. EBITDA Margin | 23.0% | 19.8% | -320 bps |
*At comparable exchange rates.
Pharma Segment: Sales increased 10% to $440 million. Demand for injectables and systemic nasal delivery for CNS therapies offset a 36% decline in emergency medicine sales amid destocking.
Beauty Segment: Reported sales grew 24% to $341 million, with core growth of 10% in prestige fragrance and personal care.
Closures Segment: Sales rose 5% to $182 million, tempered by lower resin pricing pass-through.
Sector Pressures and Strategic Outlook
Profitability faced headwinds from less favorable product mix, higher production costs, environmental upgrades at a metal anodization plant, and unscheduled equipment maintenance in Beauty and Closures.
2026 Guidance: Aptar expects Q1 2026 adjusted EPS between $1.13 and $1.21, assuming an effective tax rate of 21% to 23%. Capital investments for the year are projected at $260 million to $280 million, focused on high-return pharma projects.
Geopolitical and Tariff Risk: Aptar faces exposure to global trade policies and raw material costs, including potential impacts from tariffs on imports and supply chain volatility. Over 50% of revenue is international, increasing sensitivity to currency fluctuations and export controls on drug delivery technologies.
AptarGroup (ATR) SWOT Analysis
Strengths
- Pharma Leadership: Dominant position in high-margin nasal drug delivery and injectables; Pharma generates the majority of group profit.
- Shareholder Returns: Consistent dividend increases and capital returns.
- Innovation Pipeline: New product launches drive core sales growth.
Weaknesses
- Margin Volatility: Adjusted EBITDA margin declined 320 bps in Q4 due to costs and mix.
- Segment Concentration: Operational disruptions in Beauty and Closures weighed on profitability.
- Emergency Medicine Cycle: Destocking in high-margin emergency products.
Opportunities
- GLP-1 Expansion: Rising demand for injectables provides long-term growth.
- Prestige Recovery: Strengthening fragrance market supports Beauty margins.
- Productivity Gains: Cost initiatives targeted for H2 2026 margin restoration.
Threats
- Trade Barriers: Tariffs and geopolitical factors affect raw material and supply chain costs.
- Raw Material Volatility: Resin price fluctuations and environmental compliance expenses.
- Currency Headwinds: Significant international exposure to translation risks.