Avista US Financials
This page shows Avista US (AVA) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Rising operating profitability is being absorbed by heavy reinvestment, so the business still runs on externally supported capital spending.
By FY2025, capital spending reached$570M while operating cash flow was$469M , so stronger reported earnings still did not fully fund the asset base. The swing from roughly breakeven free cash flow in FY2024 to-$101M in FY2025, even as operating margin improved to18.0% , shows the limiting factor is capital intensity more than headline profitability.
Margin improvement has done more work than top-line growth: revenue moved from
Leverage is carrying much of that investment cycle, with liabilities at
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Avista US's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Avista US has an operating margin of 18.0%, meaning the company retains $18 of operating profit per $100 of revenue. This results in a moderate score of 59/100, indicating healthy but not exceptional operating efficiency. This is up from 15.8% the prior year.
Avista US's revenue grew a modest 1.3% year-over-year to $2.0B. This slow but positive growth earns a score of 43/100.
Avista US has a moderate D/E ratio of 2.09. This balance of debt and equity financing earns a leverage score of 59/100.
Avista US's current ratio of 0.83 is below the typical benchmark, resulting in a score of 11/100. This tight liquidity could limit financial flexibility if cash inflows slow.
While Avista US generated $469.0M in operating cash flow, capex of $570.0M consumed most of it, leaving -$101.0M in free cash flow. This results in a low score of 17/100, reflecting heavy capital investment rather than weak cash generation.
Avista US generates a 7.1% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 27/100. This is up from 7.0% the prior year.
Avista US scores 0.86, below the 1.81 distress threshold. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Avista US passes 4 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
For every $1 of reported earnings, Avista US generates $2.43 in operating cash flow ($469.0M OCF vs $193.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Avista US generated $2.0B in revenue in fiscal year 2025. This represents an increase of 1.3% from the prior year.
Avista US's EBITDA was $643.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 10.9% from the prior year.
Avista US reported $193.0M in net income in fiscal year 2025. This represents an increase of 7.2% from the prior year.
Avista US earned $2.38 per diluted share (EPS) in fiscal year 2025. This represents an increase of 3.9% from the prior year.
Cash & Balance Sheet
Avista US generated -$101.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 10200.0% from the prior year.
Avista US held $19.0M in cash against $0 in long-term debt as of fiscal year 2025.
Avista US paid $1.96 per share in dividends in fiscal year 2025. This represents an increase of 3.2% from the prior year.
Avista US had 82M shares outstanding in fiscal year 2025. This represents an increase of 2.7% from the prior year.
Margins & Returns
Avista US's operating margin was 18.0% in fiscal year 2025, reflecting core business profitability. This is up 2.2 percentage points from the prior year.
Avista US's net profit margin was 9.8% in fiscal year 2025, showing the share of revenue converted to profit. This is up 0.5 percentage points from the prior year.
Avista US's ROE was 7.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 0.2 percentage points from the prior year.
Capital Allocation
Avista US invested $570.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 6.9% from the prior year.
AVA Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $570.0M+6.9% | $533.0M+32.3% | $403.0M-1.9% | $411.0M-33.4% | $617.0M+15.8% | $533.0M+35.3% | $394.0M-2.0% | $402.0M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Income | $134.0M+19.6% | $112.0M+86.7% | $60.0M+5.3% | $57.0M-54.4% | $125.0M+23.8% | $101.0M+106.1% | $49.0M-10.9% | $55.0M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $13.0M+44.4% | $9.0M+350.0% | $2.0M+100.0% | $1.0M-91.7% | $12.0M | $0 | $0-100.0% | $1.0M |
| Net Income | $92.0M+29.6% | $71.0M+144.8% | $29.0M+107.1% | $14.0M-82.3% | $79.0M+16.2% | $68.0M+277.8% | $18.0M-21.7% | $23.0M |
| EPS (Diluted) | $1.11 | N/A | $0.36+111.8% | $0.17-82.7% | $0.98 | N/A | $0.23-20.7% | $0.29 |
AVA Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $8.4B+0.6% | $8.4B+2.4% | $8.2B+1.2% | $8.1B+1.2% | $8.0B+0.3% | $7.9B+2.1% | $7.8B+1.3% | $7.7B |
| Current Assets | $735.0M+0.8% | $729.0M+9.6% | $665.0M-0.3% | $667.0M0.0% | $667.0M+1.7% | $656.0M+24.9% | $525.1M-4.7% | $550.9M |
| Cash & Equivalents | $18.0M-5.3% | $19.0M-56.8% | $44.0M+388.9% | $9.0M-47.1% | $17.0M-43.3% | $30.0M+228.8% | $9.1M-37.7% | $14.6M |
| Inventory | $241.0M+2.1% | $236.0M+3.5% | $228.0M+5.6% | $216.0M+6.9% | $202.0M+4.7% | $193.0M+3.8% | $185.9M+5.9% | $175.6M |
| Accounts Receivable | $195.0M-11.4% | $220.0M+41.9% | $155.0M-8.8% | $170.0M-21.3% | $216.0M+5.4% | $205.0M | N/A | N/A |
| Goodwill | $52.0M0.0% | $52.0M0.0% | $52.0M0.0% | $52.0M0.0% | $52.0M0.0% | $52.0M-0.8% | $52.4M0.0% | $52.4M |
| Total Liabilities | $5.6B-0.3% | $5.7B+2.4% | $5.5B+1.8% | $5.4B+1.9% | $5.3B-0.6% | $5.3B+1.9% | $5.3B+1.9% | $5.2B |
| Current Liabilities | $820.0M-6.6% | $878.0M+20.4% | $729.0M+9.1% | $668.0M-7.4% | $721.0M-6.5% | $771.0M+10.1% | $700.2M+12.1% | $624.8M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $2.8B+2.5% | $2.7B+2.4% | $2.6B0.0% | $2.6B-0.2% | $2.6B+2.2% | $2.6B+2.5% | $2.5B0.0% | $2.5B |
| Retained Earnings | $956.0M+5.6% | $905.0M+3.5% | $874.0M-1.2% | $885.0M-3.0% | $912.0M+4.7% | $871.0M+3.5% | $841.7M-2.2% | $860.9M |
AVA Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $179.0M+138.7% | $75.0M-55.9% | $170.0M+325.0% | $40.0M-78.3% | $184.0M+104.4% | $90.0M-29.1% | $127.0M0.0% | $127.0M |
| Capital Expenditures | $150.0M-21.5% | $191.0M+43.6% | $133.0M-7.0% | $143.0M+38.8% | $103.0M-19.5% | $128.0M-16.9% | $154.0M+16.7% | $132.0M |
| Free Cash Flow | $29.0M+125.0% | -$116.0M-413.5% | $37.0M+135.9% | -$103.0M-227.2% | $81.0M+313.2% | -$38.0M-40.7% | -$27.0M-440.0% | -$5.0M |
| Investing Cash Flow | -$148.0M+22.5% | -$191.0M-52.8% | -$125.0M+13.8% | -$145.0M-40.8% | -$103.0M+20.2% | -$129.0M+17.3% | -$156.0M-14.7% | -$136.0M |
| Financing Cash Flow | -$32.0M-135.2% | $91.0M+1010.0% | -$10.0M-110.3% | $97.0M+203.2% | -$94.0M-256.7% | $60.0M+160.9% | $23.0M+91.7% | $12.0M |
| Dividends Paid | $41.0M+2.5% | $40.0M0.0% | $40.0M+2.6% | $39.0M-2.5% | $40.0M+5.3% | $38.0M+2.7% | $37.0M0.0% | $37.0M |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
AVA Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | 23.5%+2.5pp | 21.0%+6.1pp | 14.9%+1.0pp | 13.9%-6.4pp | 20.3%+1.3pp | 18.9%+6.5pp | 12.4%-1.2pp | 13.7% |
| Net Margin | 16.1%+2.8pp | 13.3%+6.1pp | 7.2%+3.8pp | 3.4%-9.4pp | 12.8%+0.0pp | 12.8%+8.2pp | 4.6%-1.2pp | 5.7% |
| Return on Equity | 3.3%+0.7pp | 2.6%+1.5pp | 1.1%+0.6pp | 0.5%-2.5pp | 3.0%+0.4pp | 2.6%+1.9pp | 0.7%-0.2pp | 0.9% |
| Return on Assets | 1.1%+0.2pp | 0.9%+0.5pp | 0.4%+0.2pp | 0.2%-0.8pp | 1.0%+0.1pp | 0.9%+0.6pp | 0.2%-0.1pp | 0.3% |
| Current Ratio | 0.90+0.1 | 0.83-0.1 | 0.91-0.1 | 1.00+0.1 | 0.93+0.1 | 0.85+0.1 | 0.75-0.1 | 0.88 |
| Debt-to-Equity | 2.03-0.1 | 2.090.0 | 2.09+0.0 | 2.05+0.0 | 2.01-0.1 | 2.06-0.0 | 2.08+0.0 | 2.04 |
| FCF Margin | 5.1%+26.8pp | -21.8%-30.9pp | 9.2%+34.2pp | -25.1%-38.2pp | 13.1%+20.3pp | -7.1%-0.3pp | -6.9%-5.6pp | -1.2% |
Note: The current ratio is below 1.0 (0.83), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is Avista US's annual revenue?
Avista US (AVA) reported $2.0B in total revenue for fiscal year 2025. This represents a 1.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Avista US's revenue growing?
Avista US (AVA) revenue grew by 1.3% year-over-year, from $1.9B to $2.0B in fiscal year 2025.
Is Avista US profitable?
Yes, Avista US (AVA) reported a net income of $193.0M in fiscal year 2025, with a net profit margin of 9.8%.
What is Avista US's EBITDA?
Avista US (AVA) had EBITDA of $643.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Avista US's operating margin?
Avista US (AVA) had an operating margin of 18.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Avista US's net profit margin?
Avista US (AVA) had a net profit margin of 9.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Avista US pay dividends?
Yes, Avista US (AVA) paid $1.96 per share in dividends during fiscal year 2025.
What is Avista US's return on equity (ROE)?
Avista US (AVA) has a return on equity of 7.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Avista US's free cash flow?
Avista US (AVA) generated -$101.0M in free cash flow during fiscal year 2025. This represents a -10200.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Avista US's operating cash flow?
Avista US (AVA) generated $469.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Avista US's total assets?
Avista US (AVA) had $8.4B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Avista US's capital expenditures?
Avista US (AVA) invested $570.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Avista US's current ratio?
Avista US (AVA) had a current ratio of 0.83 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Avista US's debt-to-equity ratio?
Avista US (AVA) had a debt-to-equity ratio of 2.09 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Avista US's return on assets (ROA)?
Avista US (AVA) had a return on assets of 2.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Avista US's Altman Z-Score?
Avista US (AVA) has an Altman Z-Score of 0.86, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Avista US's Piotroski F-Score?
Avista US (AVA) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Avista US's earnings high quality?
Avista US (AVA) has an earnings quality ratio of 2.43x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Avista US?
Avista US (AVA) scores 36 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.