Avista (AVA) Financials

$37.64 +0.14 (+0.38%)

As of 10:54 AM Eastern

Annual Income Statements for Avista

This table shows Avista's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	123	137	116	136	197	129	147	155	171	180
Consolidated Net Income / (Loss)	123	137	116	137	197	129	147	155	171	180
Net Income / (Loss) Continuing Operations	118	137	116	137	197	129	147	155	171	180
Total Pre-Tax Income	186	215	199	163	228	137	159	138	137	183
Total Operating Income	253	300	292	261	210	233	228	190	258	306
Total Gross Profit	525	585	611	584	561	569	570	557	636	698
Total Revenue	1,485	1,442	1,446	1,397	1,346	1,322	1,439	1,710	1,752	1,938
Operating Revenue	1,456	1,442	1,446	1,397	1,346	1,322	1,439	1,710	1,752	1,938
Total Cost of Revenue	960	857	835	813	785	753	869	1,153	1,116	1,240
Operating Cost of Revenue	960	857	835	813	785	753	869	1,153	1,116	1,240
Total Operating Expenses	271	286	319	323	350	336	341	367	378	392
Depreciation Expense	144	161	172	184	206	224	232	253	265	274
Other Operating Expenses / (Income)	98	99	107	107	106	107	109	114	113	118
Total Other Income / (Expense), net	-68	-84	-93	-98	18	-96	-68	-52	-121	-123
Interest Expense	80	87	96	101	100	105	106	119	140	145
Other Income / (Expense), net	13	2.67	2.70	2.48	118	8.90	37	67	19	22
Income Tax Expense	67	78	83	26	31	7.05	12	-17	-34	3.00
Basic Earnings per Share	$1.98	$2.16	$1.80	$2.08	$2.98	$1.91	$2.11	$2.13	$2.24	$2.29
Weighted Average Basic Shares Outstanding	62.30M	63.51M	64.50M	65.67M	66.21M	67.96M	69.95M	72.99M	76.40M	78.73M
Diluted Earnings per Share	$1.97	$2.15	$1.79	$2.07	$2.97	$1.90	$2.10	$2.12	$2.24	$2.29
Weighted Average Diluted Shares Outstanding	62.71M	63.92M	64.81M	65.95M	66.33M	68.10M	70.09M	73.09M	76.50M	78.82M
Weighted Average Basic & Diluted Shares Outstanding	62.20M	63.50M	64.40M	65.72M	67.21M	69.26M	71.57M	75.03M	78.16M	80.13M
Cash Dividends to Common per Share	$1.32	$1.37	$1.43	$1.49	$1.55	$1.62	$1.69	$1.76	$1.84	$1.90

This table shows Avista's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-5.80	78	55	17	15	84	71	23	18	67	79
Consolidated Net Income / (Loss)	-5.80	78	55	17	15	84	71	23	18	67	79
Net Income / (Loss) Continuing Operations	-5.80	78	55	17	15	84	71	23	18	67	79
Total Pre-Tax Income	-5.64	72	48	12	11	66	74	23	18	68	91
Total Operating Income	19	63	77	44	38	100	101	54	49	102	125
Total Gross Profit	109	154	176	135	128	197	205	148	144	201	232
Total Revenue	359	510	475	380	380	518	609	402	394	533	617
Operating Revenue	359	510	475	380	380	518	609	402	394	533	617
Total Cost of Revenue	251	356	299	245	251	321	405	254	250	331	385
Operating Cost of Revenue	251	356	299	245	251	321	405	254	250	331	385
Total Operating Expenses	89	90	99	91	90	98	104	94	95	100	107
Depreciation Expense	63	64	65	66	67	67	68	68	68	70	71
Other Operating Expenses / (Income)	26	27	34	25	23	31	36	26	27	29	36
Total Other Income / (Expense), net	-25	9.11	-28	-32	-27	-33	-27	-31	-31	-35	-34
Interest Expense	30	32	36	36	35	33	37	37	37	34	39
Other Income / (Expense), net	4.79	41	7.27	3.49	8.33	-0.09	10	5.68	6.57	-0.49	5.00
Income Tax Expense	0.16	-5.32	-6.63	-5.81	-3.79	-18	2.31	0.50	-0.48	0.68	12
Basic Earnings per Share	($0.08)	$1.05	$0.73	$0.23	$0.19	$1.09	$0.91	$0.29	$0.23	$0.86	$0.98
Weighted Average Basic Shares Outstanding	73.23M	72.99M	75.17M	75.98M	76.73M	76.40M	78.16M	78.39M	78.84M	78.73M	80.22M
Diluted Earnings per Share	($0.08)	$1.05	$0.73	$0.23	$0.19	$1.09	$0.91	$0.29	$0.23	$0.86	$0.98
Weighted Average Diluted Shares Outstanding	73.30M	73.09M	75.28M	76.13M	76.76M	76.50M	78.21M	78.46M	78.97M	78.82M	80.31M
Weighted Average Basic & Diluted Shares Outstanding	73.78M	75.03M	75.76M	76.53M	77.37M	78.16M	78.19M	78.70M	79.18M	80.13M	80.56M
Cash Dividends to Common per Share	$0.44	-	$0.46	$0.46	$0.46	-	$0.48	$0.48	$0.48	-	$0.49

This table details how cash moves in and out of Avista's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	-12	-1.98	7.67	-1.52	-4.76	4.30	7.97	-9.00	22	-5.00
Net Cash From Operating Activities	376	358	410	362	398	331	267	124	447	534
Net Cash From Continuing Operating Activities	376	358	410	362	398	331	267	124	447	534
Net Income / (Loss) Continuing Operations	123	137	116	137	197	129	147	155	171	180
Consolidated Net Income / (Loss)	123	137	116	137	197	129	147	155	171	180
Depreciation Expense	148	165	176	187	206	224	232	253	265	274
Amortization Expense	41	37	17	5.42	4.31	3.24	2.61	2.00	3.00	2.00
Non-Cash Adjustments To Reconcile Net Income	35	-16	29	15	-31	-16	-65	-111	33	125
Changes in Operating Assets and Liabilities, net	29	34	72	18	22	-10	-49	-175	-25	-47
Net Cash From Investing Activities	-388	-432	-434	-440	-446	-411	-445	-460	-510	-539
Net Cash From Continuing Investing Activities	-388	-432	-434	-440	-446	-411	-445	-460	-510	-539
Purchase of Property, Plant & Equipment	-393	-407	-412	-424	-443	-404	-440	-452	-499	-533
Purchase of Investments	-1.94	-13	-14	-	-14	-5.93	-16	-10	-13	-10
Divestitures	14	-	-	0.00	16	6.79	8.31	1.00	3.00	0.00
Other Investing Activities, net	-6.31	-18	-8.08	-16	-5.90	-7.30	2.72	1.00	-1.00	4.00
Net Cash From Financing Activities	0.53	72	31	77	43	84	186	327	85	0.00
Net Cash From Continuing Financing Activities	0.53	72	31	77	43	84	186	327	85	0.00
Repayment of Debt	-16	-168	-22	-285	-99	-43	74	-81	-137	-2.00
Payment of Dividends	-82	-87	-92	-98	-103	-110	-118	-129	-141	-150
Issuance of Debt	100	260	90	459	180	165	140	400	250	84
Issuance of Common Equity	1.56	67	56	1.21	65	72	90	137	113	68
Cash Interest Paid	80	86	95	97	99	98	99	107	132	141
Cash Income Taxes Paid	27	5.40	5.58	18	27	1.90	3.65	2.00	3.00	12

This table details how cash moves in and out of Avista's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Change in Cash & Equivalents	-7.26	-1.20	-2.83	5.11	-7.07	27	-23	2.37	-5.52	21	-13
Net Cash From Operating Activities	4.47	-86	94	175	124	54	190	127	127	90	184
Net Cash From Continuing Operating Activities	4.47	-86	94	175	123	55	190	127	126	91	184
Net Income / (Loss) Continuing Operations	-5.80	78	55	17	15	84	71	23	18	67	79
Consolidated Net Income / (Loss)	-5.80	78	55	17	15	84	71	23	18	67	79
Depreciation Expense	64	64	65	66	67	67	68	68	68	70	71
Amortization Expense	0.46	0.49	1.13	0.85	0.45	0.57	0.51	0.53	0.54	0.42	1.00
Non-Cash Adjustments To Reconcile Net Income	4.55	-77	-42	29	6.88	38	48	39	15	23	8.00
Changes in Operating Assets and Liabilities, net	-58	-152	15	62	34	-135	1.86	-3.23	25	-70	25
Net Cash From Investing Activities	-121	-120	-106	-128	-135	-141	-118	-136	-156	-129	-103
Net Cash From Continuing Investing Activities	-121	-120	-106	-128	-135	-141	-118	-136	-156	-129	-103
Purchase of Property, Plant & Equipment	-121	-121	-100	-126	-133	-140	-119	-132	-154	-128	-103
Purchase of Investments	-1.30	-0.94	-4.78	-1.70	-5.52	-1.00	-1.78	-3.34	-2.46	-2.43	0.00
Other Investing Activities, net	0.07	1.94	-0.98	0.13	0.35	-0.50	2.39	-0.19	0.80	1.01	0.00
Net Cash From Financing Activities	109	205	9.18	-42	3.69	115	-95	12	23	60	-94
Net Cash From Continuing Financing Activities	109	205	9.18	-42	3.69	115	-95	12	23	60	-94
Repayment of Debt	109	193	-236	-37	10	126	-57	-52	42	65	-70
Payment of Dividends	-32	-33	-35	-35	-35	-36	-38	-37	-37	-38	-40
Issuance of Common Equity	32	44	30	30	29	25	0.12	17	18	32	16

This table presents Avista's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	4,907	5,310	5,515	5,783	6,082	6,402	6,854	7,417	7,702	7,941
Total Current Assets	306	351	338	347	305	344	434	722	662	656
Cash & Equivalents	10	8.51	16	15	9.90	14	22	13	35	30
Note & Lease Receivable	169	180	186	166	167	164	203	256	217	205
Inventories, net	54	53	58	64	67	67	85	108	160	193
Other Current Assets	48	61	78	84	62	99	125	345	250	228
Plant, Property, & Equipment, net	3,899	4,148	4,399	0.00	0.00	4,992	5,226	5,445	5,700	5,987
Total Noncurrent Assets	702	811	778	5,436	5,777	1,067	1,194	1,251	1,340	1,298
Long-Term Investments	71	84	101	115	257	264	281	365	394	399
Goodwill	58	58	58	58	52	52	52	52	52	52
Other Noncurrent Operating Assets	222	320	619	5,263	5,468	750	861	833	894	847
Total Liabilities & Shareholders' Equity	4,907	5,310	5,515	5,783	6,082	6,402	6,854	7,417	7,702	7,941
Total Liabilities	3,378	3,661	3,784	4,009	4,143	4,372	4,699	5,083	5,217	5,350
Total Current Liabilities	475	408	698	640	531	506	913	965	775	771
Short-Term Debt	198	123	383	298	238	203	534	477	364	354
Accounts Payable	114	116	107	108	110	107	133	203	143	125
Other Current Liabilities	106	108	207	234	183	196	246	285	268	292
Total Noncurrent Liabilities	2,904	3,254	3,087	3,369	3,612	3,866	3,786	4,118	4,442	4,579
Long-Term Debt	1,532	1,730	1,543	1,807	1,844	2,009	1,898	2,333	2,567	2,666
Asset Retirement Reserve & Litigation Obligation	262	274	800	781	775	785	862	841	857	834
Noncurrent Deferred & Payable Income Tax Liabilities	747	841	467	488	529	595	643	675	718	751
Noncurrent Employee Benefit Liabilities	201	227	204	223	212	212	153	94	90	75
Other Noncurrent Operating Liabilities	162	182	73	71	201	215	178	176	210	253
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,529	1,648	1,730	1,774	1,939	2,030	2,155	2,335	2,485	2,591
Total Preferred & Common Equity	1,528	1,649	1,730	1,773	1,939	2,030	2,155	2,335	2,485	2,591
Total Common Equity	1,529	1,649	1,730	1,773	1,939	2,030	2,155	2,335	2,485	2,591
Common Stock	1,004	1,075	1,133	1,136	1,211	1,286	1,380	1,525	1,644	1,720
Retained Earnings	531	581	604	645	739	758	786	812	841	871

This table presents Avista's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025
Total Assets	7,056	7,394	7,371	7,470	7,649	7,684	7,781	7,966
Total Current Assets	464	656	527	547	562	551	525	667
Cash & Equivalents	14	11	16	8.63	12	15	9.12	17
Accounts Receivable	-	-	-	-	-	-	-	216
Inventories, net	123	102	116	145	164	176	186	202
Other Current Assets	161	327	254	262	168	207	186	232
Plant, Property, & Equipment, net	5,379	5,472	5,549	5,625	5,748	5,827	5,924	6,034
Total Noncurrent Assets	1,213	1,266	1,296	1,298	1,339	1,306	1,331	1,265
Long-Term Investments	324	374	382	390	399	409	412	396
Goodwill	52	52	52	52	52	52	52	52
Other Noncurrent Operating Assets	837	839	861	855	888	845	867	817
Total Liabilities & Shareholders' Equity	7,056	7,394	7,371	7,470	7,649	7,684	7,781	7,966
Total Liabilities	4,821	5,009	4,971	5,060	5,128	5,157	5,253	5,317
Total Current Liabilities	685	605	541	583	580	625	700	721
Short-Term Debt	282	245	210	222	227	259	302	287
Accounts Payable	113	112	104	105	103	105	105	113
Other Current Liabilities	291	248	228	257	250	261	293	321
Total Noncurrent Liabilities	4,136	4,404	4,430	4,477	4,548	4,532	4,553	4,596
Long-Term Debt	2,281	2,530	2,582	2,582	2,649	2,650	2,650	2,666
Asset Retirement Reserve & Litigation Obligation	845	840	845	864	865	829	840	843
Noncurrent Deferred & Payable Income Tax Liabilities	666	694	704	726	712	719	726	745
Noncurrent Employee Benefit Liabilities	115	93	93	92	89	92	89	73
Other Noncurrent Operating Liabilities	177	195	207	213	233	242	248	269
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	2,235	2,385	2,400	2,410	2,521	2,527	2,528	2,649
Total Preferred & Common Equity	2,235	2,385	2,400	2,410	2,521	2,527	2,528	2,649
Total Common Equity	2,235	2,385	2,400	2,410	2,521	2,527	2,528	2,649
Common Stock	1,478	1,556	1,589	1,619	1,645	1,667	1,687	1,737
Retained Earnings	767	832	814	793	876	861	842	912
Accumulated Other Comprehensive Income / (Loss)	-10	-2.08	-2.10	-2.11	-0.37	-0.37	-0.38	0.00

This table displays calculated financial ratios and metrics derived from Avista's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.83%	-2.85%	0.24%	-3.39%	-3.67%	-1.76%	8.85%	18.84%	2.46%	10.62%
EBITDA Growth	10.93%	11.03%	-3.35%	-6.49%	18.03%	-12.92%	6.66%	2.34%	6.45%	10.83%
EBIT Growth	-0.67%	13.71%	-2.53%	-10.61%	24.55%	-26.41%	9.90%	-3.21%	7.78%	18.41%
NOPAT Growth	2.28%	18.58%	-10.82%	28.62%	-17.25%	21.62%	-4.39%	1.14%	50.90%	-6.54%
Net Income Growth	-35.86%	11.35%	-15.57%	17.83%	44.05%	-34.19%	13.78%	5.20%	10.32%	5.26%
EPS Growth	-36.45%	9.14%	-16.74%	15.64%	43.48%	-36.03%	10.53%	0.95%	5.66%	2.23%
Operating Cash Flow Growth	40.55%	-4.62%	14.52%	-11.80%	10.04%	-16.88%	-19.23%	-53.62%	260.48%	19.46%
Free Cash Flow Firm Growth	104.22%	-499.43%	233.14%	-84.11%	1,287.32%	-91.13%	-1,088.80%	-96.28%	146.44%	5.73%
Invested Capital Growth	4.95%	7.33%	3.32%	5.94%	1.49%	5.51%	7.99%	9.90%	4.65%	3.91%
Revenue Q/Q Growth	-1.63%	1.04%	-0.29%	-1.80%	-0.57%	1.21%	3.70%	4.79%	0.44%	0.80%
EBITDA Q/Q Growth	3.17%	2.07%	-1.28%	-2.15%	0.94%	4.09%	-0.43%	5.17%	-0.43%	0.81%
EBIT Q/Q Growth	0.99%	4.01%	-0.92%	-1.11%	-1.25%	6.56%	-3.75%	10.35%	-1.78%	0.53%
NOPAT Q/Q Growth	3.00%	8.10%	-10.25%	15.55%	0.90%	4.70%	-5.69%	0.89%	25.90%	-8.37%
Net Income Q/Q Growth	5.38%	1.15%	-9.72%	15.42%	2.56%	6.55%	-5.06%	21.00%	3.64%	-8.62%
EPS Q/Q Growth	8.84%	-0.46%	-9.60%	15.64%	1.71%	5.56%	-5.83%	18.44%	1.82%	-9.13%
Operating Cash Flow Q/Q Growth	20.09%	12.48%	-0.33%	-22.77%	18.31%	-2.72%	-3.62%	-50.17%	45.55%	7.23%
Free Cash Flow Firm Q/Q Growth	164.60%	50.73%	72.64%	-94.10%	200.28%	32.36%	-34.57%	-126.84%	306.37%	27.48%
Invested Capital Q/Q Growth	2.94%	1.83%	0.52%	5.40%	2.98%	3.01%	3.16%	5.66%	3.59%	2.42%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	35.33%	40.58%	42.27%	41.80%	41.66%	43.03%	39.58%	32.57%	36.30%	36.02%
EBITDA Margin	30.63%	35.00%	33.75%	32.67%	40.03%	35.48%	34.77%	29.94%	31.11%	31.17%
Operating Margin	17.05%	20.79%	20.21%	18.69%	15.64%	17.60%	15.86%	11.11%	14.73%	15.79%
EBIT Margin	17.92%	20.97%	20.39%	18.87%	24.40%	18.28%	18.45%	15.03%	15.81%	16.92%
Profit (Net Income) Margin	8.31%	9.52%	8.02%	9.78%	14.62%	9.80%	10.24%	9.06%	9.76%	9.29%
Tax Burden Percent	66.44%	63.75%	58.35%	83.98%	86.25%	94.84%	92.45%	112.32%	124.82%	98.36%
Interest Burden Percent	69.77%	71.20%	67.38%	61.71%	69.49%	56.51%	60.02%	53.70%	49.46%	55.79%
Effective Tax Rate	36.34%	36.25%	41.65%	16.02%	13.75%	5.16%	7.55%	-12.32%	-24.82%	1.64%
Return on Invested Capital (ROIC)	5.17%	5.78%	4.90%	6.02%	4.80%	5.64%	5.05%	4.69%	6.60%	5.92%
ROIC Less NNEP Spread (ROIC-NNEP)	2.82%	2.65%	1.85%	1.65%	5.60%	0.91%	2.00%	2.16%	0.48%	1.17%
Return on Net Nonoperating Assets (RNNOA)	3.01%	2.87%	1.97%	1.78%	5.79%	0.88%	1.99%	2.22%	0.49%	1.17%
Return on Equity (ROE)	8.19%	8.64%	6.86%	7.80%	10.60%	6.53%	7.04%	6.91%	7.10%	7.09%
Cash Return on Invested Capital (CROIC)	0.34%	-1.29%	1.63%	0.25%	3.32%	0.28%	-2.63%	-4.74%	2.06%	2.08%
Operating Return on Assets (OROA)	5.54%	5.92%	5.45%	4.67%	5.53%	3.87%	4.01%	3.60%	3.66%	4.19%
Return on Assets (ROA)	2.57%	2.69%	2.14%	2.42%	3.32%	2.07%	2.22%	2.17%	2.26%	2.30%
Return on Common Equity (ROCE)	8.19%	8.64%	6.86%	7.79%	10.60%	6.53%	7.04%	6.91%	7.10%	7.09%
Return on Equity Simple (ROE_SIMPLE)	8.07%	8.33%	6.70%	7.70%	10.15%	6.38%	6.84%	6.64%	6.88%	6.95%
Net Operating Profit after Tax (NOPAT)	161	191	170	219	181	221	211	213	322	301
NOPAT Margin	10.86%	13.25%	11.79%	15.70%	13.48%	16.69%	14.66%	12.48%	18.38%	15.53%
Net Nonoperating Expense Percent (NNEP)	2.35%	3.13%	3.04%	4.37%	-0.80%	4.74%	3.06%	2.53%	6.12%	4.75%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	4.15%	5.95%	5.36%
Cost of Revenue to Revenue	64.67%	59.42%	57.73%	58.20%	58.34%	56.97%	60.42%	67.43%	63.70%	63.98%
SG&A Expenses to Revenue	1.99%	1.77%	1.77%	2.01%	1.40%	0.40%	0.00%	0.00%	0.00%	0.00%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	18.28%	19.79%	22.06%	23.11%	26.03%	25.42%	23.72%	21.46%	21.58%	20.23%
Earnings before Interest and Taxes (EBIT)	266	303	295	264	328	242	266	257	277	328
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	455	505	488	456	539	469	500	512	545	604
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.02	1.15	1.46	1.23	1.34	1.15	1.23	1.25	1.04	1.11
Price to Tangible Book Value (P/TBV)	1.06	1.19	1.51	1.27	1.38	1.18	1.26	1.28	1.07	1.13
Price to Revenue (P/Rev)	1.06	1.31	1.74	1.56	1.93	1.76	1.84	1.71	1.48	1.48
Price to Earnings (P/E)	12.71	13.76	21.73	15.99	13.19	17.97	17.93	18.85	15.17	15.91
Dividend Yield	6.51%	4.66%	3.66%	4.49%	4.94%	4.79%	5.61%	4.44%	5.49%	5.25%
Earnings Yield	7.87%	7.27%	4.60%	6.25%	7.58%	5.57%	5.58%	5.31%	6.59%	6.29%
Enterprise Value to Invested Capital (EV/IC)	1.01	1.07	1.22	1.11	1.16	1.06	1.10	1.12	1.02	1.05
Enterprise Value to Revenue (EV/Rev)	2.17	2.53	2.99	2.98	3.28	3.22	3.32	3.13	2.91	2.81
Enterprise Value to EBITDA (EV/EBITDA)	7.07	7.23	8.87	9.11	8.19	9.08	9.54	10.45	9.35	9.03
Enterprise Value to EBIT (EV/EBIT)	12.08	12.06	14.68	15.77	13.44	17.63	17.97	20.83	18.40	16.63
Enterprise Value to NOPAT (EV/NOPAT)	19.94	19.09	25.39	18.96	24.32	19.30	22.61	25.08	15.83	18.12
Enterprise Value to Operating Cash Flow (EV/OCF)	8.56	10.19	10.55	11.49	11.08	12.87	17.85	43.16	11.40	10.21
Enterprise Value to Free Cash Flow (EV/FCFF)	300.35	0.00	76.03	459.75	35.17	383.02	0.00	0.00	50.84	51.47
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.13	1.12	1.11	1.19	1.07	1.09	1.13	1.20	1.18	1.17
Long-Term Debt to Equity	1.00	1.05	0.89	1.02	0.95	0.99	0.88	1.00	1.03	1.03
Financial Leverage	1.07	1.08	1.06	1.08	1.03	0.97	1.00	1.03	1.02	1.00
Leverage Ratio	3.19	3.22	3.20	3.22	3.20	3.15	3.17	3.18	3.14	3.08
Compound Leverage Factor	2.23	2.29	2.16	1.99	2.22	1.78	1.90	1.71	1.55	1.72
Debt to Total Capital	53.09%	52.93%	52.68%	54.26%	51.77%	52.14%	53.03%	54.61%	54.12%	53.82%
Short-Term Debt to Total Capital	6.08%	3.52%	10.47%	7.67%	5.91%	4.79%	11.64%	9.26%	6.72%	6.31%
Long-Term Debt to Total Capital	47.01%	49.41%	42.21%	46.59%	45.86%	47.36%	41.38%	45.35%	47.40%	47.51%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.01%	-0.01%	0.02%	0.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	46.91%	47.08%	47.31%	45.72%	48.23%	47.86%	46.97%	45.39%	45.88%	46.18%
Debt to EBITDA	3.80	3.67	3.95	4.61	3.86	4.71	4.86	5.49	5.38	5.00
Net Debt to EBITDA	3.62	3.49	3.71	4.33	3.37	4.12	4.26	4.75	4.59	4.29
Long-Term Debt to EBITDA	3.37	3.43	3.16	3.96	3.42	4.28	3.79	4.56	4.71	4.41
Debt to NOPAT	10.73	9.70	11.30	9.60	11.47	10.02	11.53	13.16	9.10	10.03
Net Debt to NOPAT	10.22	9.21	10.61	9.01	10.00	8.76	10.09	11.39	7.77	8.61
Long-Term Debt to NOPAT	9.50	9.05	9.05	8.24	10.16	9.10	9.00	10.93	7.97	8.86
Altman Z-Score	0.87	0.91	0.91	0.81	0.90	0.79	0.75	0.80	0.78	0.84
Noncontrolling Interest Sharing Ratio	0.00%	-0.01%	0.01%	0.04%	0.02%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.64	0.86	0.48	0.54	0.57	0.68	0.48	0.75	0.85	0.85
Quick Ratio	0.38	0.46	0.29	0.28	0.33	0.35	0.25	0.28	0.33	0.30
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	11	-43	57	9.04	125	11	-110	-216	100	106
Operating Cash Flow to CapEx	95.48%	89.20%	99.51%	85.28%	89.99%	81.87%	60.77%	27.43%	89.58%	100.19%
Free Cash Flow to Firm to Interest Expense	0.13	-0.49	0.59	0.09	1.25	0.11	-1.04	-1.81	0.72	0.73
Operating Cash Flow to Interest Expense	4.67	4.11	4.27	3.59	3.98	3.15	2.53	1.04	3.19	3.68
Operating Cash Flow Less CapEx to Interest Expense	-0.22	-0.50	-0.02	-0.62	-0.44	-0.70	-1.63	-2.76	-0.37	0.01
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.31	0.28	0.27	0.25	0.23	0.21	0.22	0.24	0.23	0.25
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	15.94	15.95	14.99	13.33	12.03	11.24	11.43	11.99	8.34	7.03
Fixed Asset Turnover	0.40	0.36	0.34	0.00	0.00	0.00	0.28	0.32	0.31	0.33
Accounts Payable Turnover	8.45	7.46	7.49	7.54	7.18	6.95	7.25	6.86	6.45	9.25
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	22.90	22.88	24.35	27.38	30.33	32.48	31.94	30.45	43.77	51.95
Days Payable Outstanding (DPO)	43.21	48.95	48.72	48.41	50.82	52.54	50.32	53.19	56.57	39.44
Cash Conversion Cycle (CCC)	-20.30	-26.07	-24.37	-21.03	-20.49	-20.06	-18.37	-22.74	-12.80	12.51
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	3,192	3,426	3,539	3,749	3,805	4,015	4,336	4,765	4,987	5,182
Invested Capital Turnover	0.48	0.44	0.42	0.38	0.36	0.34	0.34	0.38	0.36	0.38
Increase / (Decrease) in Invested Capital	150	234	114	210	56	210	321	429	222	195
Enterprise Value (EV)	3,215	3,650	4,328	4,158	4,413	4,260	4,771	5,352	5,097	5,455
Market Capitalization	1,566	1,889	2,519	2,181	2,598	2,326	2,641	2,922	2,595	2,864
Book Value per Share	$24.53	$25.69	$26.85	$26.99	$29.07	$29.53	$30.45	$31.65	$32.12	$32.72
Tangible Book Value per Share	$23.61	$24.79	$25.96	$26.12	$28.28	$28.77	$29.71	$30.93	$31.45	$32.07
Total Capital	3,258	3,502	3,657	3,879	4,021	4,241	4,587	5,144	5,416	5,611
Total Debt	1,730	1,854	1,926	2,105	2,082	2,212	2,432	2,809	2,931	3,020
Total Long-Term Debt	1,532	1,730	1,543	1,807	1,844	2,009	1,898	2,333	2,567	2,666
Net Debt	1,648	1,761	1,809	1,975	1,815	1,934	2,130	2,431	2,502	2,591
Capital Expenditures (CapEx)	393	402	412	424	443	404	440	452	499	533
Debt-free, Cash-free Net Working Capital (DFCFNWC)	19	59	6.70	-9.67	2.32	27	33	220	216	209
Debt-free Net Working Capital (DFNWC)	30	67	23	4.98	12	41	55	234	251	239
Net Working Capital (NWC)	-169	-56	-360	-293	-226	-162	-479	-243	-113	-115
Net Nonoperating Expense (NNE)	38	54	55	83	-15	91	64	58	151	121
Net Nonoperating Obligations (NNO)	1,663	1,777	1,809	1,975	1,866	1,985	2,181	2,431	2,502	2,591
Total Depreciation and Amortization (D&A)	189	202	193	193	210	227	235	255	268	276
Debt-free, Cash-free Net Working Capital to Revenue	1.28%	4.06%	0.46%	-0.69%	0.17%	2.04%	2.31%	12.89%	12.33%	10.78%
Debt-free Net Working Capital to Revenue	1.99%	4.65%	1.58%	0.36%	0.91%	3.11%	3.85%	13.67%	14.33%	12.33%
Net Working Capital to Revenue	-11.36%	-3.90%	-24.90%	-20.95%	-16.76%	-12.25%	-33.26%	-14.19%	-6.45%	-5.93%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.98	$2.16	$1.80	$2.08	$2.98	$1.91	$2.11	$2.13	$2.24	$2.29
Adjusted Weighted Average Basic Shares Outstanding	62.30M	63.51M	64.50M	65.67M	66.21M	67.96M	69.95M	72.99M	76.40M	78.73M
Adjusted Diluted Earnings per Share	$1.97	$2.15	$1.79	$2.07	$2.97	$1.90	$2.10	$2.12	$2.24	$2.29
Adjusted Weighted Average Diluted Shares Outstanding	62.71M	63.92M	64.81M	65.95M	66.33M	68.10M	70.09M	73.09M	76.50M	78.82M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	62.49M	64.31M	65.63M	65.72M	67.21M	69.26M	71.57M	75.03M	78.16M	80.13M
Normalized Net Operating Profit after Tax (NOPAT)	161	191	179	222	198	221	211	133	181	301
Normalized NOPAT Margin	10.86%	13.25%	12.38%	15.92%	14.75%	16.69%	14.66%	7.78%	10.31%	15.53%
Pre Tax Income Margin	12.50%	14.93%	13.74%	11.64%	16.95%	10.33%	11.08%	8.07%	7.82%	9.44%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	3.31	3.47	3.07	2.61	3.28	2.30	2.51	2.16	1.98	2.26
NOPAT to Interest Expense	2.00	2.19	1.77	2.17	1.81	2.10	2.00	1.79	2.30	2.08
EBIT Less CapEx to Interest Expense	-1.58	-1.14	-1.22	-1.59	-1.14	-1.55	-1.65	-1.64	-1.59	-1.41
NOPAT Less CapEx to Interest Expense	-2.89	-2.42	-2.51	-2.03	-2.61	-1.75	-2.17	-2.01	-1.26	-1.60
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	66.82%	63.47%	79.75%	71.78%	52.23%	85.15%	80.23%	83.23%	82.46%	83.33%
Augmented Payout Ratio	69.19%	63.47%	79.75%	71.78%	52.23%	85.15%	80.23%	83.23%	82.46%	83.33%

This table displays calculated financial ratios and metrics derived from Avista's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	21.43%	18.10%	2.72%	0.36%	5.61%	1.54%	28.40%	5.83%	3.72%	2.89%	1.31%
EBITDA Growth	-6.03%	17.47%	-1.21%	11.53%	29.03%	-1.52%	19.69%	12.25%	8.78%	3.26%	12.22%
EBIT Growth	-32.01%	29.91%	-5.67%	20.82%	91.84%	-5.09%	32.78%	26.71%	19.22%	1.97%	17.12%
NOPAT Growth	-65.12%	2.14%	-10.89%	146.62%	277.57%	85.64%	12.42%	-19.06%	-2.37%	-20.11%	10.47%
Net Income Growth	-140.36%	52.88%	-23.36%	52.66%	353.81%	7.94%	30.36%	30.74%	25.63%	-20.00%	11.27%
EPS Growth	-140.00%	45.83%	-26.26%	43.75%	337.50%	3.81%	24.66%	26.09%	21.05%	-21.10%	7.69%
Operating Cash Flow Growth	-88.49%	-324.89%	-41.77%	297.62%	2,667.73%	162.14%	101.76%	-27.65%	2.80%	67.23%	-3.16%
Free Cash Flow Firm Growth	-9.97%	-42.01%	-113.94%	-35.26%	13.66%	73.55%	85.04%	50.04%	22.83%	1.46%	-53.82%
Invested Capital Growth	7.30%	9.90%	11.55%	9.02%	6.75%	4.65%	3.31%	4.56%	5.10%	3.91%	4.07%
Revenue Q/Q Growth	-5.05%	41.87%	-6.96%	-19.95%	-0.08%	36.40%	17.79%	-34.02%	-2.07%	35.31%	15.81%
EBITDA Q/Q Growth	-13.97%	91.98%	-11.15%	-23.91%	-0.46%	46.53%	7.49%	-28.64%	-3.53%	39.09%	17.35%
EBIT Q/Q Growth	-38.20%	332.93%	-19.68%	-43.60%	-1.87%	114.19%	11.78%	-46.18%	-7.67%	83.19%	28.24%
NOPAT Q/Q Growth	-48.95%	400.68%	27.33%	-24.70%	-21.84%	146.16%	-21.68%	-45.79%	-5.73%	101.44%	7.61%
Net Income Q/Q Growth	-150.62%	1,441.50%	-29.65%	-68.12%	-15.83%	470.50%	-15.02%	-68.03%	-19.12%	263.28%	17.63%
EPS Q/Q Growth	-150.00%	1,412.50%	-30.48%	-68.49%	-17.39%	473.68%	-16.51%	-68.13%	-20.69%	273.91%	13.95%
Operating Cash Flow Q/Q Growth	-89.86%	-2,032.72%	209.33%	86.02%	-29.42%	-56.61%	253.61%	-33.29%	0.29%	-29.41%	104.92%
Free Cash Flow Firm Q/Q Growth	-19.74%	-23.26%	-14.30%	19.72%	23.56%	62.24%	36.38%	-168.12%	-18.07%	51.79%	-0.32%
Invested Capital Q/Q Growth	2.55%	5.66%	1.28%	-0.66%	0.41%	3.59%	-0.02%	0.54%	0.93%	2.42%	0.14%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	30.29%	30.14%	37.01%	35.50%	33.78%	38.09%	33.59%	36.76%	36.60%	37.80%	37.60%
EBITDA Margin	24.53%	33.20%	31.65%	30.08%	29.97%	32.20%	29.50%	31.91%	31.43%	32.31%	32.74%
Operating Margin	5.40%	12.42%	16.14%	11.53%	10.03%	19.22%	16.59%	13.49%	12.39%	19.12%	20.26%
EBIT Margin	6.73%	20.54%	17.67%	12.45%	12.23%	19.20%	18.27%	14.91%	14.05%	19.03%	21.07%
Profit (Net Income) Margin	-1.61%	15.25%	11.56%	4.60%	3.88%	16.21%	11.73%	5.69%	4.70%	12.61%	12.80%
Tax Burden Percent	102.78%	107.34%	113.75%	149.77%	134.64%	126.86%	96.88%	97.88%	102.65%	99.00%	86.81%
Interest Burden Percent	-23.32%	69.18%	57.49%	24.68%	23.55%	66.57%	66.27%	38.97%	32.55%	66.92%	70.00%
Effective Tax Rate	0.00%	-7.34%	-13.75%	-49.77%	-34.64%	-26.86%	3.12%	2.12%	-2.65%	1.00%	13.19%
Return on Invested Capital (ROIC)	1.42%	5.01%	6.91%	6.48%	5.05%	8.76%	6.18%	5.14%	4.95%	7.21%	6.73%
ROIC Less NNEP Spread (ROIC-NNEP)	0.53%	5.44%	5.49%	4.36%	3.49%	7.04%	5.10%	3.90%	3.67%	5.89%	5.55%
Return on Net Nonoperating Assets (RNNOA)	0.53%	5.58%	5.39%	4.29%	3.52%	7.21%	5.10%	3.86%	3.67%	5.91%	5.37%
Return on Equity (ROE)	1.95%	10.59%	12.30%	10.76%	8.57%	15.97%	11.28%	9.00%	8.62%	13.13%	12.10%
Cash Return on Invested Capital (CROIC)	-2.18%	-4.74%	-6.48%	-3.58%	-1.04%	2.06%	3.37%	2.14%	1.68%	2.08%	2.08%
Operating Return on Assets (OROA)	1.59%	4.92%	4.22%	3.00%	2.94%	4.45%	4.58%	3.78%	3.54%	4.71%	5.25%
Return on Assets (ROA)	-0.38%	3.66%	2.76%	1.11%	0.93%	3.76%	2.94%	1.44%	1.18%	3.12%	3.19%
Return on Common Equity (ROCE)	1.95%	10.59%	12.30%	10.76%	8.57%	15.97%	11.28%	9.00%	8.62%	13.13%	12.10%
Return on Equity Simple (ROE_SIMPLE)	5.73%	0.00%	5.80%	6.02%	6.85%	0.00%	7.45%	7.64%	7.79%	0.00%	7.10%
Net Operating Profit after Tax (NOPAT)	14	68	87	66	51	126	98	53	50	101	109
NOPAT Margin	3.78%	13.33%	18.36%	17.27%	13.51%	24.38%	16.07%	13.21%	12.71%	18.93%	17.59%
Net Nonoperating Expense Percent (NNEP)	0.89%	-0.42%	1.42%	2.11%	1.56%	1.71%	1.08%	1.24%	1.28%	1.32%	1.18%
Return On Investment Capital (ROIC_SIMPLE)	-	1.32%	-	-	-	2.33%	-	-	-	1.80%	1.94%
Cost of Revenue to Revenue	69.71%	69.86%	62.99%	64.50%	66.22%	61.91%	66.41%	63.24%	63.40%	62.20%	62.40%
SG&A Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	24.90%	17.72%	20.88%	23.97%	23.74%	18.87%	17.00%	23.26%	24.21%	18.68%	17.34%
Earnings before Interest and Taxes (EBIT)	24	105	84	47	46	99	111	60	55	101	130
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	88	169	150	114	114	167	180	128	124	172	202
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.10	1.25	1.24	1.16	0.98	1.04	1.05	1.06	1.21	1.11	1.27
Price to Tangible Book Value (P/TBV)	1.12	1.28	1.26	1.19	1.00	1.07	1.07	1.08	1.23	1.13	1.29
Price to Revenue (P/Rev)	1.50	1.71	1.71	1.62	1.35	1.48	1.40	1.40	1.59	1.48	1.72
Price to Earnings (P/E)	19.11	18.85	21.31	19.29	14.25	15.17	14.07	13.84	15.48	15.91	17.85
Dividend Yield	5.20%	4.44%	4.53%	4.89%	5.92%	5.49%	5.43%	5.47%	4.86%	5.25%	4.57%
Earnings Yield	5.23%	5.31%	4.69%	5.18%	7.02%	6.59%	7.11%	7.23%	6.46%	6.29%	5.60%
Enterprise Value to Invested Capital (EV/IC)	1.04	1.12	1.11	1.08	0.99	1.02	1.02	1.03	1.10	1.05	1.14
Enterprise Value to Revenue (EV/Rev)	2.86	3.13	3.10	3.00	2.73	2.91	2.71	2.70	2.90	2.81	3.03
Enterprise Value to EBITDA (EV/EBITDA)	9.60	10.45	10.47	9.93	8.69	9.35	8.88	8.76	9.32	9.03	9.42
Enterprise Value to EBIT (EV/EBIT)	20.06	20.83	21.22	19.94	16.87	18.40	16.77	16.26	17.11	16.63	16.99
Enterprise Value to NOPAT (EV/NOPAT)	22.08	25.08	26.32	22.33	18.60	15.83	15.72	15.95	16.99	18.12	19.10
Enterprise Value to Operating Cash Flow (EV/OCF)	18.77	43.16	94.34	27.58	15.49	11.40	9.41	10.43	11.21	10.21	11.16
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	50.84	30.91	49.16	67.14	51.47	55.78
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.15	1.20	1.16	1.16	1.16	1.18	1.14	1.15	1.17	1.17	1.11
Long-Term Debt to Equity	1.02	1.00	1.06	1.08	1.07	1.03	1.05	1.05	1.05	1.03	1.01
Financial Leverage	1.01	1.03	0.98	0.98	1.01	1.02	1.00	0.99	1.00	1.00	0.97
Leverage Ratio	3.18	3.18	3.12	3.09	3.13	3.14	3.07	3.06	3.09	3.08	3.02
Compound Leverage Factor	-0.74	2.20	1.80	0.76	0.74	2.09	2.03	1.19	1.01	2.06	2.11
Debt to Total Capital	53.41%	54.61%	53.77%	53.77%	53.77%	54.12%	53.30%	53.51%	53.87%	53.82%	52.71%
Short-Term Debt to Total Capital	5.87%	9.26%	4.74%	4.04%	4.25%	6.72%	4.21%	4.76%	5.52%	6.31%	5.12%
Long-Term Debt to Total Capital	47.54%	45.35%	49.03%	49.72%	49.52%	47.40%	49.09%	48.75%	48.36%	47.51%	47.59%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	46.59%	45.39%	46.23%	46.23%	46.23%	45.88%	46.70%	46.49%	46.13%	46.18%	47.29%
Debt to EBITDA	5.26	5.49	5.44	5.35	5.12	5.38	5.00	4.94	4.93	5.00	4.72
Net Debt to EBITDA	4.57	4.75	4.69	4.59	4.39	4.59	4.29	4.22	4.23	4.29	4.06
Long-Term Debt to EBITDA	4.69	4.56	4.96	4.95	4.72	4.71	4.61	4.50	4.42	4.41	4.26
Debt to NOPAT	12.11	13.16	13.67	12.03	10.96	9.10	8.85	8.99	8.99	10.03	9.57
Net Debt to NOPAT	10.51	11.39	11.78	10.32	9.40	7.77	7.59	7.69	7.71	8.61	8.23
Long-Term Debt to NOPAT	10.78	10.93	12.47	11.13	10.09	7.97	8.15	8.19	8.07	8.86	8.64
Altman Z-Score	0.66	0.74	0.79	0.74	0.68	0.70	0.76	0.73	0.74	0.74	0.83
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.68	0.75	1.08	0.97	0.94	0.85	0.97	0.88	0.75	0.85	0.93
Quick Ratio	0.26	0.28	0.38	0.29	0.24	0.33	0.40	0.27	0.22	0.30	0.32
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-293	-361	-412	-331	-253	-96	-62	-165	-195	-94	-94
Operating Cash Flow to CapEx	3.71%	-71.60%	93.79%	138.86%	93.37%	38.43%	160.18%	95.74%	82.49%	70.39%	178.64%
Free Cash Flow to Firm to Interest Expense	-9.82	-11.19	-11.57	-9.29	-7.13	-2.88	-1.67	-4.52	-5.23	-2.75	-2.42
Operating Cash Flow to Interest Expense	0.15	-2.68	2.64	4.92	3.49	1.62	5.15	3.47	3.41	2.63	4.72
Operating Cash Flow Less CapEx to Interest Expense	-3.89	-6.41	-0.18	1.38	-0.25	-2.59	1.94	-0.15	-0.72	-1.11	2.08
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.24	0.24	0.24	0.24	0.24	0.23	0.25	0.25	0.25	0.25	0.25
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	10.17	11.99	13.14	10.38	8.57	8.34	9.23	8.47	7.44	7.03	6.68
Fixed Asset Turnover	0.00	0.32	0.32	0.32	0.32	0.31	0.34	0.34	0.33	0.33	0.33
Accounts Payable Turnover	9.95	6.86	10.43	10.23	10.56	6.45	11.39	11.85	11.74	9.25	11.31
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	35.88	30.45	27.79	35.15	42.58	43.77	39.57	43.10	49.05	51.95	54.66
Days Payable Outstanding (DPO)	36.70	53.19	34.99	35.67	34.55	56.57	32.06	30.80	31.08	39.44	32.27
Cash Conversion Cycle (CCC)	-0.82	-22.74	-7.20	-0.52	8.03	-12.80	7.51	12.30	17.97	12.51	22.39
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	4,510	4,765	4,826	4,794	4,814	4,987	4,986	5,013	5,060	5,182	5,189
Invested Capital Turnover	0.37	0.38	0.38	0.38	0.37	0.36	0.38	0.39	0.39	0.38	0.38
Increase / (Decrease) in Invested Capital	307	429	500	397	304	222	160	219	245	195	203
Enterprise Value (EV)	4,671	5,352	5,340	5,181	4,756	5,097	5,109	5,159	5,581	5,455	5,895
Market Capitalization	2,448	2,922	2,951	2,787	2,352	2,595	2,643	2,673	3,050	2,864	3,355
Book Value per Share	$30.62	$31.65	$31.79	$31.68	$31.49	$32.12	$32.25	$32.32	$32.12	$32.72	$33.06
Tangible Book Value per Share	$29.91	$30.93	$31.09	$30.99	$30.81	$31.45	$31.58	$31.65	$31.46	$32.07	$32.41
Total Capital	4,797	5,144	5,160	5,192	5,213	5,416	5,397	5,436	5,481	5,611	5,602
Total Debt	2,562	2,809	2,775	2,792	2,803	2,931	2,876	2,909	2,952	3,020	2,953
Total Long-Term Debt	2,281	2,333	2,530	2,582	2,582	2,567	2,649	2,650	2,650	2,666	2,666
Net Debt	2,224	2,431	2,390	2,394	2,404	2,502	2,466	2,486	2,532	2,591	2,540
Capital Expenditures (CapEx)	121	121	100	126	133	140	119	132	154	128	103
Debt-free, Cash-free Net Working Capital (DFCFNWC)	46	220	285	180	177	216	197	170	118	209	216
Debt-free Net Working Capital (DFNWC)	60	234	296	196	185	251	209	185	127	239	233
Net Working Capital (NWC)	-222	-243	51	-14	-36	-113	-18	-74	-175	-115	-54
Net Nonoperating Expense (NNE)	19	-9.78	32	48	37	42	26	30	32	34	30
Net Nonoperating Obligations (NNO)	2,275	2,431	2,441	2,394	2,404	2,502	2,466	2,486	2,532	2,591	2,540
Total Depreciation and Amortization (D&A)	64	65	66	67	67	67	68	68	68	71	72
Debt-free, Cash-free Net Working Capital to Revenue	2.79%	12.89%	16.54%	10.44%	10.13%	12.33%	10.42%	8.93%	6.14%	10.78%	11.10%
Debt-free Net Working Capital to Revenue	3.67%	13.67%	17.16%	11.35%	10.62%	14.33%	11.07%	9.70%	6.61%	12.33%	11.97%
Net Working Capital to Revenue	-13.58%	-14.19%	2.97%	-0.83%	-2.08%	-6.45%	-0.97%	-3.87%	-9.11%	-5.93%	-2.77%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.08)	$1.05	$0.73	$0.23	$0.19	$1.09	$0.91	$0.29	$0.23	$0.86	$0.98
Adjusted Weighted Average Basic Shares Outstanding	73.23M	72.99M	75.17M	75.98M	76.73M	76.40M	78.16M	78.39M	78.84M	78.73M	80.22M
Adjusted Diluted Earnings per Share	($0.08)	$1.05	$0.73	$0.23	$0.19	$1.09	$0.91	$0.29	$0.23	$0.86	$0.98
Adjusted Weighted Average Diluted Shares Outstanding	73.30M	73.09M	75.28M	76.13M	76.76M	76.50M	78.21M	78.46M	78.97M	78.82M	80.31M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	73.78M	75.03M	75.76M	76.53M	77.37M	78.16M	78.19M	78.70M	79.18M	80.13M	80.56M
Normalized Net Operating Profit after Tax (NOPAT)	14	44	54	31	27	70	98	53	34	101	109
Normalized NOPAT Margin	3.78%	8.70%	11.30%	8.07%	7.02%	13.45%	16.07%	13.21%	8.67%	18.93%	17.59%
Pre Tax Income Margin	-1.57%	14.21%	10.16%	3.07%	2.88%	12.78%	12.11%	5.81%	4.57%	12.73%	14.75%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.81	3.24	2.35	1.33	1.31	2.99	3.02	1.64	1.48	2.96	3.33
NOPAT to Interest Expense	0.46	2.11	2.44	1.84	1.45	3.80	2.65	1.45	1.34	2.95	2.78
EBIT Less CapEx to Interest Expense	-3.23	-0.49	-0.47	-2.22	-2.43	-1.21	-0.20	-1.98	-2.65	-0.77	0.69
NOPAT Less CapEx to Interest Expense	-3.59	-1.63	-0.37	-1.70	-2.29	-0.41	-0.56	-2.17	-2.79	-0.78	0.14
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	98.59%	83.23%	95.42%	93.38%	83.60%	82.46%	76.51%	75.60%	75.26%	83.33%	80.85%
Augmented Payout Ratio	98.59%	83.23%	95.42%	93.38%	83.60%	82.46%	76.51%	75.60%	75.26%	83.33%	80.85%

Key Financial Trends

Avista’s Q1 2025 results showed continued earnings growth and margin expansion, although free cash flow remained under pressure from elevated capital spending. Revenue rose modestly, operating performance improved, and liquidity remained solid, while leverage and dividend payout levels warrant monitoring.

Net income grew to $79 M in Q1 2025 (up 18% YoY), driving EPS to $0.98.
Operating margin expanded to 20.3% in Q1 2025 from 16.6% a year ago.
EBITDA increased 12% YoY to $202 M, reflecting improved operational efficiency.
Operating cash flow rose to $184 M in Q1 2025, supporting working capital needs.
Revenue grew 1.3% YoY in Q1 2025, indicating stable demand for utility services.
CapEx of $103 M slightly exceeded depreciation of $72 M, reflecting ongoing infrastructure investment.
Net debt/EBITDA remained around 4.1×, in line with regulated utility peers.
Free cash flow to firm was negative $94.5 M in Q1 2025 due to high capital outlays.
Dividend payout ratio rose to 81% in Q1 2025, limiting retained earnings growth.
Debt-to-equity increased to 1.11× in Q1 2025 from 1.06× in Q1 2024, adding leverage risk.

06/20/25 07:30 AMAI Generated. May Contain Errors.

Frequently Asked Questions About Avista's Financials

When does Avista's financial year end?

According to the most recent income statement we have on file, Avista's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Avista's net income changed over the last 9 years?

Avista's net income appears to be on an upward trend, with a most recent value of $180 million in 2024, rising from $123.32 million in 2015. The previous period was $171 million in 2023. Check out Avista's forecast to explore projected trends and price targets.

What is Avista's operating income?

Avista's total operating income in 2024 was $306 million, based on the following breakdown:

Total Gross Profit: $698 million
Total Operating Expenses: $392 million

How has Avista's revenue changed over the last 9 years?

Over the last 9 years, Avista's total revenue changed from $1.48 billion in 2015 to $1.94 billion in 2024, a change of 30.5%.

How much debt does Avista have?

Avista's total liabilities were at $5.35 billion at the end of 2024, a 2.5% increase from 2023, and a 58.4% increase since 2015.

How much cash does Avista have?

In the past 9 years, Avista's cash and equivalents has ranged from $8.51 million in 2016 to $35 million in 2023, and is currently $30 million as of their latest financial filing in 2024.

How has Avista's book value per share changed over the last 9 years?

Over the last 9 years, Avista's book value per share changed from 24.53 in 2015 to 32.72 in 2024, a change of 33.4%.

Related Companies

This page (NYSE:AVA) was last updated on 6/20/2025 by MarketBeat.com Staff

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Avista (AVA) Financials

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Avista (AVA) Financials

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