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Avista

AVA NYSE Multi-Utilities Financials FY2016–FY2025

Avista's revenue rose 1.3% to $2.0 billion in fiscal 2025. Its operating margin was 18.0%, up from 15.8% a year earlier. Free cash flow was −$101 million, against $1 million a year earlier. It paid out $159 million in dividends and buybacks. The diluted share count rose 2.8%.

Last close · Oct 23, 2026

$37.69

0.1%
Value it Compare
Revenue Total sales reported in the income statement.
$2.0B
1.3% vs prior year
Operating margin Operating income as a share of revenue.
18.0%
2.2 pts
Net income Profit after all expenses, interest and tax.
$193M
7.2%
Free cash flow Cash from operations minus capital spending.
−$101M
10,200.0%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
—
Market cap Last close times the latest diluted share count, so it is approximate.
$3.1B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
13.6x
On $2.77 EPS (TTM)

About these figures. Avista's long-term debt is not available in the SEC's structured data from 2023, so total debt and the measures that use it are blank for those years.

What Avista does

No business description yet.

Legal name
AVISTA CORP
Fiscal year ends
December 31, 2025
Latest annual report
—
Accession · CIK
0001193125-26-067872
0000104918

Revenue and margins

Avista had $2.0B of revenue in fiscal 2025, up 1.3% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew 1.1% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was −$101M in fiscal 2025, −5.1% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Avista returned $159M to shareholders in fiscal 2025. The diluted share count rose 2.8%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Avista yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of — and divides by 81.1M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 13.6x · peers 20.9x · sector 20.7x.

Balance sheet

Cash, debt and the ratios that show how comfortably Avista can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $22.2M$13.4M$35.0M$30.0M$19.0M
Debt incl. finance leases $2.5B$2.8B———
Net debt / EBITDA 5.3x6.3x———
Debt / equity 1.2x1.2x———
Interest coverage 2.3x1.8x2.0x2.2x2.5x
Current ratio 0.5x0.8x0.9x0.9x0.8x
Quick ratio 0.4x0.6x0.7x0.6x0.6x
Total assets $6.9B$7.4B$7.7B$7.9B$8.4B
Total liabilities $4.7B$5.1B$5.2B$5.4B$5.7B
Shareholders' equity $2.2B$2.3B$2.5B$2.6B$2.7B
Net debt (− = net cash) $2.5B$2.8B———

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$0.7M

5 insiders

Of sales under plans

0%

$0.0M

DateInsiderTradeSharesPriceValueFiling
Sep 2, 2026 Joshua D DiLucianoVice President Sold 4,675 $37.24 $0.2M Form 4
May 7, 2026 Wayne O ManuelSenior Vice President Sold 1,593 $40.98 $0.1M Form 4
Mar 13, 2026 Alexis G. AlexanderVice President Sold 555 $39.80 $0.0M Form 4
Feb 26, 2026 Bryan Alden CoxSenior Vice President Sold 1,768 $40.18 $0.1M Form 4
Dec 16, 2025 Wayne O ManuelSenior Vice President Sold 1,785 $38.74 $0.1M Form 4
Dec 12, 2025 Janet D. WidmannDirector Sold 7,400 $38.63 $0.3M Form 4
Dec 2, 2025 Alexis G. AlexanderVice President Sold 127 $40.87 $0.0M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✓ ✓ ✓
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets — — —
Current ratio rose ✓ ✕ ✕
Share count didn't rise ✕ ✕ ✕
Gross margin rose — — —
Revenue rose relative to assets ✕ ✓ ✕
F-score — / 9— / 9— / 9
Accruals ratio −3.7%−4.5%−3.4%
Altman Z'' 0.981.031.02

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Avista AVA $3.1B 1.3% 18.0% −5.1% — 13.6x —
MDU Resources Group MDU $4.1B 6.7% 15.5% −15.8% 5.1% 20.2x 4 Compare →
Black Hills BKH $6.0B 8.6% 23.3% −6.3% 5.7% 20.0x 6 Compare →
NorthWestern Energy NWE $4.8B 6.4% 20.2% −8.1% 5.1% 28.0x 5 Compare →
OGE Energy OGE $10.0B 9.2% 24.5% 2.5% 6.5% 21.6x 6 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $1.4B $1.4B $1.4B $1.3B $1.3B $1.4B $1.7B $1.8B $1.9B $2.0B
Operating income $300M $292M $261M $210M $233M $228M $190M $258M $306M $354M
Interest expense $86.5M $95.4M $99.7M $103M $97.7M $98.6M $107M $132M $141M $144M
Pretax income $215M $199M $163M $228M $137M $159M $138M $137M $183M $217M
Income tax $78.1M $82.8M $26.1M $31.4M $7.1M $12.0M −$17.0M −$34.0M $3.0M $24.0M
Net income $137M $116M $136M $197M $130M $147M $155M $171M $180M $193M
Diluted EPS $2.15 $1.79 $2.07 $2.97 $1.90 $2.10 $2.12 $2.24 $2.29 $2.38
Diluted shares 0.06B 0.06B 0.07B 0.07B 0.07B 0.07B 0.07B 0.08B 0.08B 0.08B
Cash flow
Cash from operations $358M $410M $362M $398M $331M $267M $124M $447M $534M $469M
Capital expenditure $407M $412M $424M $443M $404M $440M $452M $499M $533M $570M
Free cash flow −$48.4M −$2.0M −$62.5M −$44.3M −$73.3M −$173M −$328M −$52.0M $1.0M −$101M
Depreciation and amortization $165M $176M $187M $206M $224M $232M $253M $265M $274M $289M
Stock-based compensation $7.9M $7.4M $5.4M $11.4M $5.8M $4.7M $9.0M $8.0M $9.0M $9.0M
Acquisitions $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Share buybacks $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Dividends paid $87.2M $92.5M $98.0M $103M $110M $118M $129M $141M $150M $159M
Dividends and buybacks $87.2M $92.5M $98.1M $103M $110M $118M $129M $141M $150M $159M
Balance sheet
Cash and short-term investments $8.5M $16.2M $14.7M $9.9M $14.2M $22.2M $13.4M $35.0M $30.0M $19.0M
Total debt $1.8B $1.9B $2.1B $2.1B $2.2B $2.4B $2.8B — — —
Finance lease liabilities $0.0M $0.0M $0.0M $54.5M $51.8M $48.8M $45.7M $42.0M $39.0M $36.0M
Current assets $351M $338M $347M $305M $344M $435M $722M $662M $656M $729M
Current liabilities $408M $698M $640M $531M $506M $913M $965M $775M $771M $878M
Inventory $53.3M $58.1M $63.9M $66.6M $67.5M $84.7M $108M $160M $193M $236M
Total assets $5.3B $5.5B $5.8B $6.1B $6.4B $6.9B $7.4B $7.7B $7.9B $8.4B
Total liabilities $3.7B $3.8B $4.0B $4.1B $4.4B $4.7B $5.1B $5.2B $5.4B $5.7B
Shareholders' equity $1.6B $1.7B $1.8B $1.9B $2.0B $2.2B $2.3B $2.5B $2.6B $2.7B
Margins
Operating margin 20.8% 20.2% 18.7% 15.6% 17.6% 15.9% 11.1% 14.7% 15.8% 18.0%
EBITDA margin 32.2% 32.4% 32.1% 30.9% 34.6% 32.0% 25.9% 29.9% 29.9% 32.7%
Net margin 9.5% 8.0% 9.8% 14.6% 9.8% 10.2% 9.1% 9.8% 9.3% 9.8%
FCF margin −3.4% −0.1% −4.5% −3.3% −5.6% −12.0% −19.2% −3.0% 0.1% −5.1%
Returns
Return on capital 5.9% 4.9% 5.9% 4.6% 5.3% 4.8% 3.9% — — —
Return on capital employed 6.4% 6.0% 5.2% 3.9% 4.1% 3.9% 3.1% 3.9% 4.3% 4.8%
Return on equity 8.6% 6.9% 7.8% 10.6% 6.5% 7.0% 6.9% 7.1% 7.1% 7.3%
Return on assets 2.7% 2.1% 2.4% 3.3% 2.1% 2.2% 2.2% 2.3% 2.3% 2.4%
Growth
Revenue growth −2.9% 0.2% −3.4% −3.7% −1.8% 8.9% 18.8% 2.5% 10.6% 1.3%
Net income growth 11.4% −15.5% 17.7% 44.4% −34.3% 13.8% 5.2% 10.3% 5.3% 7.2%
EPS growth 9.1% −16.7% 15.6% 43.5% −36.0% 10.5% 1.0% 5.7% 2.2% 3.9%
FCF growth — — — — — — — — — −10,200.0%
Share count change 1.9% 1.4% 1.8% 0.6% 2.7% 2.9% 4.3% 4.7% 3.0% 2.8%
Financial health
Net debt / EBITDA 3.9x 4.0x 4.6x 5.1x 4.9x 5.3x 6.3x — — —
Debt / equity 1.1x 1.1x 1.2x 1.1x 1.1x 1.2x 1.2x — — —
Interest coverage 3.5x 3.1x 2.6x 2.0x 2.4x 2.3x 1.8x 2.0x 2.2x 2.5x
Current ratio 0.9x 0.5x 0.5x 0.6x 0.7x 0.5x 0.8x 0.9x 0.9x 0.8x
Quick ratio 0.7x 0.4x 0.4x 0.5x 0.6x 0.4x 0.6x 0.7x 0.6x 0.6x
Capital allocation
Capex / revenue 28.2% 28.5% 30.4% 32.9% 30.6% 30.6% 26.4% 28.5% 27.5% 29.0%
Stock comp / revenue 0.6% 0.5% 0.4% 0.8% 0.4% 0.3% 0.5% 0.5% 0.5% 0.5%
Payouts / FCF — — — — — — — — 15,000.0% —
Quality scores
Piotroski F-score 5.0 4.0 5.0 6.0 4.0 5.0 4.0 — — —
Altman Z'' 1.1 0.8 0.8 0.9 1.0 0.6 0.8 1.0 1.0 1.0
Accruals ratio −4.3% −5.4% −4.0% −3.4% −3.2% −1.8% 0.4% −3.7% −4.5% −3.4%

Source: SEC EDGAR XBRL filings (CIK 0000104918). Data updated October 22, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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