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Avista Corporation

AVA Utilities Utilities Diversified

Avista Corporation’s revenue for fiscal 2025 (year ended December 2025) was $2.0 billion, up 1.34% from fiscal 2024.

Revenue
+4.47%
EPS
+62.5%
Free cash flow
−237.8%
Total debt
+8.83%

Quarter to September 2026, against a year earlier

40.63 0.46 +1.15%
Market cap
$3.4B
P/E
13.6×
Fwd P/E
14.2×
Dividend yield
4.84%
F-score
4/9
Altman Z
0.84
Beneish M
−2.57
Dividend safety
32/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 0.69
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell 3 — 1 1 — 1 — — — 1 — —
Insider Ownership 0.80%

Capital & Financial Ratios $m

Size
Market Cap 3,430.00
Revenue ttm 1,937.00
Net income ttm 247.00
Free cash flow ttm (192.00)
Net debt Q 3,333.00
Valuation
P/E 13.57
Forward P/E 14.20
Price / sales 1.76
Forward P/S Powerpack
Price / FCF 0.00
Price / book 1.20
Financial health
Current ratio Q 0.96 (below 1: weak)
Debt / equity Q 1.19
Interest coverage Q 1.69
Growth
Revenue growth Q +4.47% (above 0%: growing)
Operating income growth Q +10.00% (above 0%: growing)
EPS, this year +12.68%
EPS, next year A +3.98%
Revenue, next year A +2.34%
EPS, past 5 yrs +4.61%
EPS, next 5 yrs A +6.90%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 3.5×, against a ten-year median of 3.4×; over the ten years it ranged from 2.7× in 2016 to 4.1× in 2021.
P/E against its own 10 years 1.94%
10-year low 10-year high
P/S against its own 10 years 37.22%
10-year low 10-year high
P/B against its own 10 years 24.72%
10-year low 10-year high
EV/Sales against its own 10 years 56.88%
10-year low 10-year high

Dividends raised every year since 2017

Yield
4.84%
Annual rate
1.97
Payout ratio
65.7%
Growth, 2017–25
+4.02%/yr
  1. 1.43 ’17
  2. 1.49 ’18 +4
  3. 1.55 ’19 +4
  4. 1.62 ’20 +5
  5. 1.69 ’21 +4
  6. 1.76 ’22 +4
  7. 1.84 ’23 +5
  8. 1.90 ’24 +3
  9. 1.96 ’25 +3
  10. 1.99 ’26e +1
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 35 30 19 32
Receivables 217 205 220 149
Inventory 160 193 236 276
Other 250 228 254 271
662 656 729 728
2023 2024 2025 Q'26
Payables 143 125 163 129
ST’ Debt 364 354 388 331
Other 268 292 327 301
775 771 878 761

Compound Annual Growth %

10y 5y 3y
Sales 2.84% 8.24% 4.72%
Cash Flow 2.24% 7.22% 55.81%
Earnings 4.59% 8.31% 7.58%
Book Value 5.89% 5.94% 5.08%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.44 Actual 0.38

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 1.01 0.88 Miss by 0.13
Q1 FY26 1.08 1.10 Beat by 0.02
Q2 FY26 0.14 0.29 Beat by 0.15
Q3 FY26 0.44 0.38 Miss by 0.06
Q4 FY26 0.68 — Reports 24 February 2027

EPS $

Mar Jun Sep Dec Year
’26 1.11 0.43 0.58 — —
’25 0.98 0.17 0.36 0.87 2.38
’24 0.91 0.29 0.23 0.84 2.29
’23 0.73 0.23 0.19 1.08 2.24
’22 0.99 0.16 (0.08) 1.05 2.12
’21 0.98 0.20 0.20 0.71 2.10
’20 0.72 0.26 0.07 0.86 1.90
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 570 413 421 — —
’25 617 411 403 533 1,964
’24 609 402 394 533 1,938
’23 475 380 380 518 1,752
’22 462 379 359 510 1,710
’21 413 298 296 432 1,439
’20 390 279 273 380 1,322
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 179 122 134 — —
’25 184 40 170 75 469
’24 190 127 127 90 534
’23 94 175 124 54 447
’22 162 44 4 (86) 124
’21 145 45 39 38 267
’20 135 65 83 48 331
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 29 (54) (51) — —
’25 81 (103) 37 (116) (101)
’24 71 (5) (27) (38) 1
’23 (6) 49 (9) (86) (52)
’22 66 (71) (116) (207) (328)
’21 48 (72) (70) (79) (173)
’20 40 (29) (19) (65) (73)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

3.2
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 1,442 1,446 1,397 1,346 1,322 1,439 1,710 1,752 1,938 1,964 1,937 +3.5% 2,010 2,075 2,149 +3.0%
Gross margin, % 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 0.0 pt
EBT 215 199 163 228 137 159 138 137 183 217 230 +0.1%
EBT margin, % 14.93 13.74 11.64 16.95 10.33 11.08 8.07 7.82 9.44 11.05 11.87 (3.9) pt
Net income 137 116 137 197 129 147 155 171 180 193 247 +3.9%
Per share, $
Per share, $ Revenue 22.71 22.42 21.27 20.33 19.45 20.57 23.43 22.93 24.62 24.25 23.13 +0.7%
Earnings 2.16 1.80 2.08 2.98 1.91 2.10 2.13 2.24 2.29 2.38 3.00 +1.1%
Cash flow 5.64 6.36 5.51 6.01 4.87 3.82 1.70 5.85 6.78 5.79 6.09 +0.3%
Capex (6.40) (6.39) (6.46) (6.68) (5.95) (6.29) (6.19) (6.53) (6.77) (7.04) (8.38) +1.1%
Free cash flow (0.76) (0.03) (0.95) (0.67) (1.08) (2.47) (4.49) (0.68) 0.01 (1.25) (2.29) +5.6%
Book value 25.96 26.83 27.01 29.29 29.87 30.80 31.99 32.53 32.91 33.45 33.79 +2.9%
Shares, m 64 64 66 66 68 70 73 76 79 81 83 +2.7%
Valuation, ×
Valuation, × P/E 18.56 28.45 20.42 16.14 21.02 20.23 21.03 16.17 16.14 16.19 13.57 19.4
P/S 1.75 2.30 2.00 2.37 2.06 2.07 1.91 1.57 1.49 1.59 1.76 1.9
P/B 1.53 1.92 1.57 1.64 1.34 1.38 1.40 1.11 1.11 1.15 1.20 1.4
EV/Sales 3.03 3.62 3.49 3.94 3.77 3.78 3.55 3.22 3.03 3.21 3.48 3.5
EV/FCF (90.27) (2,563.23) (78.12) (119.80) (67.90) (31.48) (18.49) (108.66) 5,873.70 (62.33) (35.08) 273.3
Cash, $m
Cash, $m Operating cash flow 358 410 362 398 331 267 124 447 534 469 510 +3.0%
Capex (407) (412) (424) (443) (404) (440) (452) (499) (533) (570) (702) +3.8%
Free cash flow (48) (2) (62) (44) (73) (173) (328) (52) 1 (101) (192) +8.5%
Balance, $m
Balance, $m Working capital (56) (360) (293) (226) (162) (479) (243) (113) (115) (149) (33) +11.4%
Net debt 1,845 1,910 2,090 2,123 2,249 2,462 2,796 2,896 2,990 3,175 3,333 +6.2%
Shareholders’ equity 1,648 1,730 1,774 1,939 2,030 2,155 2,335 2,485 2,591 2,709 2,830 +5.7%
Returns, %
Returns, % ROA 2.69 2.14 2.42 3.32 2.07 2.22 2.17 2.26 2.30 2.37 2.93 (0.3) pt
ROIC 5.36 5.02 4.22 3.24 3.40 3.09 2.31 3.00 3.43 3.76 3.71 (1.6) pt
ROE 8.64 6.86 7.79 10.61 6.52 7.04 6.91 7.10 7.09 7.28 9.02 (1.4) pt
People
People Employees 1,742 1,744 1,766 1,796 — 1,809 1,767 1,858 1,950 1,929 — +1.1%
Revenue/emp, $m 0.83 0.83 0.79 0.75 0.00 0.80 0.97 0.94 0.99 1.02 — +2.3%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Avista Corporation vs peers in Utilities Diversified (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
SRE Sempra $52.2B 17.1× 16.4× +1.27% (above 0%: growing) +1,016.67% (above 0%: growing) +25.78% (above 0%: growing) 0.00% 0.00% Compare
BIP Brookfield Infrastructure Partners LP $24.5B 61.0× 39.9× +19.40% (above 0%: growing) n/m +17.47% (above 0%: growing) 24.53% 22.77% Compare
AES The AES Corporation $10.6B 6.0× 7.3× +15.55% (above 0%: growing) −16.96% (below 0%: shrinking) +39.92% (above 0%: growing) 25.36% 13.04% Compare
ELPC Companhia Paranaense de Energia - Copel Unsponsored ADR $7.8B 15.1× — — +100.00% (above 0%: growing) — — — Compare
AVA Avista Corporation $3.4B 13.6× 14.2× +4.47% (above 0%: growing) +62.50% (above 0%: growing) −237.84% (below 0%: shrinking) 100.00% 15.68%
UTL Unitil Corporation $1.1B 18.3× 16.9× +11.37% (above 0%: growing) n/m +14.36% (above 0%: growing) 59.59% 6.04% Compare
Median of peers $10.6B 17.1× 16.7× +13.46% +100.00% +21.63% 24.95% 9.54%

All 6 Utilities Diversified stocks →

Pay and ownership Proxy statement filed 1 April 2026

Ownership

Directors and executive officers, together less than 1%
BlackRock, Inc. 15.16%
The Vanguard Group, Inc. 13.24%
State Street Corporation 6.53%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Avista Corporation (AVA) Latest News

5 Nov

Impact 3 · · MarketBeat transcript

4 Nov

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Impact 3 · · The Motley Fool transcript

29 Oct

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28 Oct

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10 Aug

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4 Aug

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3 Aug

Impact 4 ·
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12 Jun

Impact 3 ·

3 Jun

Impact 4 · · spokesman.com

8 May

Impact 3 · · Simply Wall St.

6 May

Impact 3 · · MarketBeat

5 May

Impact 4 · · The Motley Fool transcript
Impact 3 · · Moby
Impact 3 · · Zacks
Impact 3 · · GlobeNewswire

24 Mar

Impact 4 · · GlobeNewswire

6 Mar

Impact 3 · · Insider Monkey

26 Feb

Impact 4 ·
Impact 3 · · MarketBeat

25 Feb

Impact 4 · · GuruFocus.com
Impact 4 · · The Motley Fool transcript
Impact 4 · · GlobeNewswire
Impact 4 · · Associated Press FinanceSimply Wall St.Associated Press Finance
Impact 3 · · Moby

13 Feb

Impact 3 · · GlobeNewswire

AVA metrics, ten years each

stockrow.com/AVA · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com