A Business at a Glance
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AVISTA CORP
AVA
$3.4B
Mkt Cap
$42.05
-0.31%
AVISTA CORP (AVA) has a current P/E ratio of 17.7, compared to its historical median P/E of 15.5. The stock is currently considered Fair based on its historical valuation range.
AVISTA CORP (AVA) has a 5-year average return on invested capital (ROIC) of 7.0%. This is below average and may indicate limited pricing power.
AVISTA CORP (AVA) has a market capitalization of $3.5B. It is classified as a mid-cap stock.
Yes, AVISTA CORP (AVA) pays a dividend with a trailing twelve-month yield of 4.60%.
Based on historical P/E analysis, AVISTA CORP (AVA) appears fair. The current P/E of 17.7 is 14% above its historical median of 15.5. The estimated fair value CAGR (P/E method) is 0.0%.
AVISTA CORP (AVA) operates in the Electric & Other Services Combined industry, within the Utilities sector.
AVISTA CORP (AVA) reported annual revenue of $2.0 billion in its most recent fiscal year, based on SEC EDGAR filings.
COMPANY OVERVIEW Avista Corp., incorporated in the territory of Washington in 1889, is primarily an electric and natural gas utility with certain other business ventures. Our corporate headquarters is in Spokane, Washington, the second-largest city in Washington. Spokane serves as the business, transportation, medical, industrial and cultural hub of the Inland Northwest region (eastern Washington and northern Idaho). Regional services include government and higher education, medical services, retail trade and finance. Through our subsidiary AEL&P, we also provide electric utility services in Juneau, Alaska. As of December 31, 2025, we have two reportable business segments as follows: •Avista Utilities – an operating division of Avista Corp., comprising the regulated utility operations in Washington, Idaho, Oregon and Montana. Avista Utilities provides electric distribution and transmission, and natural gas distribution services in parts of eastern Washington and northern Idaho.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 1.9B | 2.0B | 1.9B | 1.8B | 1.7B | 1.4B |
| Net Income | 206M | 193M | 180M | 171M | 155M | 147M |
| EPS | $2.51 | $2.38 | $2.29 | $2.24 | $2.12 | $2.10 |
| Free Cash Flow | -153M | -101M | 1.0M | -52M | -328M | -173M |
| ROIC | 10.3% | 10.0% | 9.8% | 6.3% | 3.9% | 4.8% |
| Gross Margin | - | 32.8% | 30.0% | 30.0% | 26.0% | 32.2% |
| Debt/Equity | 0.14 | 0.22 | 0.19 | 0.27 | 1.21 | 1.16 |
| Dividends/Share | $1.94 | $1.96 | $1.90 | $1.84 | $1.76 | $1.69 |
| Operating Income | 363M | 354M | 306M | 258M | 190M | 228M |
| Operating Margin | 18.9% | 18.0% | 15.8% | 14.7% | 11.1% | 15.9% |
| ROE | 7.4% | 7.3% | 7.1% | 7.1% | 6.9% | 7.0% |
| Shares Outstanding | 83M | 81M | 79M | 76M | 73M | 70M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 1.5B | 1.5B | 1.4B | 1.4B | 1.4B | 1.3B | 1.3B | 1.4B | 1.7B | 1.8B | 1.9B | 2.0B | 1.9B |
| Gross Margin | 31.7% | 32.4% | 38.2% | 39.0% | 39.2% | 38.6% | 34.8% | 32.2% | 26.0% | 30.0% | 30.0% | 32.8% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| EBIT | 253M | 253M | 300M | 292M | 261M | 210M | 233M | 228M | 190M | 258M | 306M | 354M | 363M |
| Op. Margin | 17.2% | 17.1% | 20.8% | 20.2% | 18.7% | 15.6% | 17.6% | 15.9% | 11.1% | 14.7% | 15.8% | 18.0% | 18.9% |
| Net Income | 192M | 123M | 137M | 116M | 136M | 197M | 129M | 147M | 155M | 171M | 180M | 193M | 206M |
| Net Margin | 13.0% | 8.3% | 9.5% | 8.0% | 9.8% | 14.6% | 9.8% | 10.2% | 9.1% | 9.8% | 9.3% | 9.8% | 10.7% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 7.5M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 5.9% | 5.3% | 5.9% | 5.0% | 5.9% | 4.6% | 5.3% | 4.8% | 3.9% | 6.3% | 9.8% | 10.0% | 10.3% |
| ROE | 13.7% | 8.2% | 8.6% | 6.9% | 7.8% | 10.6% | 6.5% | 7.0% | 6.9% | 7.1% | 7.1% | 7.3% | 7.4% |
| ROA | 4.4% | 2.6% | 2.7% | 2.1% | 2.4% | 3.3% | 2.1% | 2.2% | 2.2% | 2.3% | 2.3% | 2.4% | 2.5% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 267M | 376M | 358M | 410M | 362M | 398M | 331M | 267M | 124M | 447M | 534M | 469M | 464M |
| Free Cash Flow | -58M | -18M | -48M | -2.0M | -62M | -44M | -73M | -173M | -328M | -52M | 1.0M | -101M | -153M |
| Owner Earnings | 121M | 221M | 185M | 227M | 169M | 181M | 101M | 30M | -138M | 174M | 251M | 171M | 170M |
| CapEx | 326M | 393M | 407M | 412M | 424M | 443M | 404M | 440M | 452M | 499M | 533M | 570M | 617M |
| Maint. CapEx | 138M | 148M | 165M | 176M | 187M | 206M | 224M | 232M | 253M | 265M | 274M | 289M | 285M |
| Growth CapEx | 187M | 246M | 242M | 237M | 237M | 237M | 180M | 208M | 199M | 234M | 259M | 281M | 332M |
| D&A | 138M | 148M | 165M | 176M | 187M | 206M | 224M | 232M | 253M | 265M | 274M | 289M | 285M |
| CapEx/OCF | 121.8% | 104.7% | 113.5% | 100.5% | 117.3% | 111.1% | 122.1% | 164.6% | 363.9% | 111.6% | 99.8% | 121.5% | 133.0% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 78M | 82M | 87M | 92M | 98M | 103M | 110M | 118M | 129M | 141M | 150M | 159M | 160M |
| Dividend Yield | 6.4% | 6.1% | 5.0% | 4.5% | 4.1% | 4.7% | 5.3% | 5.0% | 5.0% | 5.5% | 5.7% | 5.3% | 4.6% |
| Share Buybacks | 80M | 2.9M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | 5.6% | 0.2% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 8.1M | 6.9M | 7.9M | 7.4M | 5.4M | 11M | 5.8M | 4.7M | 9.0M | 8.0M | 9.0M | 9.0M | 9.0M |
| Debt Repayment | 40M | 2.9M | 163M | 3.3M | 277M | 93M | 55M | 2.9M | 253M | 150M | 3.0M | 4.0M | 4.0M |
| Balance Sheet | |||||||||||||
| Net Debt | 1.4B | 1.6B | 1.8B | 1.9B | 2.0B | 2.1B | 2.3B | 2.5B | 2.8B | 647M | 474M | 578M | 368M |
| Cash & Equiv. | 22M | 10M | 8.5M | 16M | 15M | 9.9M | 14M | 22M | 13M | 35M | 30M | 19M | 18M |
| Long-Term Debt | 1.5B | 1.5B | 1.7B | 1.5B | 1.8B | 1.8B | 2.0B | 1.9B | 2.3B | 250M | 84M | 140M | 1.0M |
| Debt/Equity | 0.96 | 1.03 | 1.09 | 1.08 | 1.16 | 1.11 | 1.13 | 1.16 | 1.21 | 0.27 | 0.19 | 0.22 | 0.14 |
| Interest Coverage | 3.4 | 3.2 | 3.5 | 3.1 | 2.6 | 2.0 | 87.4 | 90.5 | 95.0 | 129.0 | 153.0 | 177.0 | 177.0 |
| Equity | 1.5B | 1.5B | 1.6B | 1.7B | 1.8B | 1.9B | 2.0B | 2.2B | 2.3B | 2.5B | 2.6B | 2.7B | 2.8B |
| Total Assets | 4.7B | 4.9B | 5.3B | 5.5B | 5.8B | 6.1B | 6.4B | 6.9B | 7.4B | 7.7B | 7.9B | 8.4B | 8.4B |
| Total Liabilities | 3.2B | 3.4B | 3.7B | 3.8B | 4.0B | 4.1B | 4.4B | 4.7B | 5.1B | 5.2B | 5.3B | 5.7B | 5.6B |
| Intangibles | 0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | 492M | 531M | 581M | 604M | 645M | 739M | 758M | 786M | 812M | 841M | 871M | 905M | 956M |
| Working Capital | 10M | -169M | -56M | -360M | -293M | -226M | -162M | -479M | -243M | -113M | -115M | -149M | -85M |
| Current Assets | 395M | 306M | 351M | 338M | 347M | 305M | 344M | 434M | 722M | 662M | 656M | 729M | 735M |
| Current Liabilities | 385M | 475M | 408M | 698M | 640M | 531M | 506M | 913M | 965M | 775M | 771M | 878M | 820M |
| Per Share Data | |||||||||||||
| EPS | 3.10 | 1.97 | 2.15 | 1.79 | 2.07 | 2.97 | 1.90 | 2.10 | 2.12 | 2.24 | 2.29 | 2.38 | 2.51 |
| Owner EPS | 1.95 | 3.53 | 2.91 | 3.51 | 2.57 | 2.73 | 1.48 | 0.43 | -1.89 | 2.28 | 3.19 | 2.11 | 2.06 |
| Book Value | 23.94 | 24.44 | 25.83 | 26.71 | 26.90 | 29.24 | 29.78 | 30.71 | 31.94 | 32.55 | 32.96 | 33.41 | 33.59 |
| Cash Flow/Share | 4.31 | 6.01 | 5.61 | 6.34 | 5.49 | 6.00 | 4.86 | 3.81 | 1.70 | 5.86 | 6.79 | 5.78 | 5.94 |
| Dividends/Share | 1.27 | 1.32 | 1.37 | 1.43 | 1.49 | 1.55 | 1.62 | 1.69 | 1.76 | 1.84 | 1.90 | 1.96 | 1.94 |
| Shares Out. | 61.9M | 62.6M | 63.8M | 64.8M | 65.9M | 66.3M | 68.2M | 70.2M | 73.1M | 76.3M | 78.6M | 81.1M | 82.6M |
| Valuation | |||||||||||||
| P/E Ratio | 7.4 | 12.0 | 12.5 | 20.3 | 14.9 | 12.1 | 16.6 | 16.0 | 17.6 | 14.3 | 15.0 | 16.0 | 16.8 |
| P/FCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| EV/EBIT | 11.4 | 12.3 | 12.1 | 14.4 | 15.5 | 21.1 | 18.6 | 20.8 | 16.8 | 10.7 | 18.3 | 17.5 | 10.6 |
| Price/Book | 1.0 | 1.0 | 1.0 | 1.4 | 1.1 | 1.2 | 1.1 | 1.1 | 1.2 | 1.0 | 1.0 | 1.1 | 1.3 |
| Price/Sales | 0.8 | 0.9 | 1.2 | 1.4 | 1.7 | 1.6 | 1.6 | 1.6 | 1.5 | 1.5 | 1.3 | 1.5 | 1.8 |
| FCF Yield | -4.1% | -1.2% | -2.8% | -0.1% | -3.1% | -1.9% | -3.4% | -7.3% | -12.0% | -2.1% | 0.0% | -3.3% | -4.4% |
| Market Cap | 1.4B | 1.5B | 1.7B | 2.4B | 2.0B | 2.4B | 2.2B | 2.4B | 2.7B | 2.4B | 2.7B | 3.1B | 3.5B |
| Avg. Price | 19.65 | 21.52 | 27.10 | 31.69 | 36.36 | 32.84 | 30.70 | 33.72 | 35.08 | 33.37 | 33.27 | 36.98 | 42.05 |
| Year-End Price | 23.04 | 23.68 | 26.96 | 36.34 | 30.85 | 35.91 | 31.63 | 33.68 | 37.35 | 32.03 | 34.32 | 38.04 | 42.05 |
AVISTA CORP passes 3 of 9 quality checks, indicating weak fundamentals.
AVISTA CORP trades at 17.7x trailing earnings, compared to its 15-year median P/E of 15.5x, suggesting it is currently Fair relative to its historical range. The company's 5-year average ROIC is 7.0% with a gross margin of 30.2%. Total shareholder yield (dividends) is 4.6%. At current prices, the estimated annualized return to fair value is +0.0%.
AVISTA CORP (AVA) has a net profit margin of 9.8%. This is a modest margin.
AVISTA CORP (AVA) generated $-101 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
AVISTA CORP (AVA) has a debt-to-equity ratio of 0.22. This indicates a conservatively financed balance sheet.
AVISTA CORP (AVA) reported earnings per share (EPS) of $2.38 in its most recent fiscal year.
AVISTA CORP (AVA) has a return on equity (ROE) of 7.3%. This indicates moderate shareholder returns.
AVISTA CORP (AVA) has a 5-year average gross margin of 30.2%. This indicates decent pricing power.
The Ledger Terminal provides 16 years of financial data for AVISTA CORP (AVA), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
AVISTA CORP (AVA) has a book value per share of $33.41, based on its most recent annual SEC filing.
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