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  "documentTitle": "Avantor | Investor Conference Presentation Deck | 24 slides",
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  "presentationDate": "2021-01-01 00:00:00",
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  "pageNumber": 16,
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  "nDataPoints": 6,
  "notes": "The slide uses a bar chart for FCF and two donut charts to show the shift in capital allocation strategy.",
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      "text": "Free Cash Flow ($M) from FY18 to FY20E",
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      "text": "Capital Allocation FY18-FY20E vs FY21E",
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      "text": "1. Free cash flow as a percentage of adjusted net income\n2. Usage of cash flow from operating activities\n3. Subject to generation of FCF and availability of deals that meet our criteria",
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      "text": "Robust cash generation creating significant M&A capacity",
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      "structure": "The Full List -> Quick Wins (Low effort, High impact) -> Big Bets (High effort, High impact) -> Sequenced Roadmap",
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