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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. In the quarter to June 2026, revenue was flat, EPS grew 152.9%, free cash flow grew 47.6% and total debt rose 6.15%, each against the same quarter a year earlier. Dividend growth for twenty-five consecutive years, revenue growth for five.

36.67 0.49 +1.35%
Market cap
$3.0B
P/E
13.2×
Fwd P/E
16.3×
Dividend yield
5.37%
F-score
4/9
Altman Z
0.84
Beneish M
−2.57
Dividend safety
32/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 0.69
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — 3 — 1 1 — 1 — — — 1 —
Insider Ownership 0.00%

Capital & Financial Ratios $m

Market Cap 3,030.00
Revenue 1,919.00
Net Income 227.00
Free Cash Flow (104.00)
Net Debt 3,235.00
Current Ratio 1.10
Debt/Equity 1.16
P/E ratio 13.24
Fwd P/E 16.30
P/S ratio 1.59
P/B ratio 1.08
Past 5Y EPS Growth 4.61%
This Y EPS Growth 10.34%
Next Y EPS Growth 6.53%
Next Y revenue growth 2.04%
Next 5Y EPS Growth 6.89%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 3.3×, 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 1.00%
10-year low 10-year high
P/S against its own 10 years 19.46%
10-year low 10-year high
P/B against its own 10 years 5.93%
10-year low 10-year high
EV/Sales against its own 10 years 39.18%
10-year low 10-year high

Dividends

Payout Ratio 0.71
Annual Dividend Rate 1.97
Annual Dividend Yield 5.37%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 1.99
0.49
0.49
0.49
2025 1.96
0.49
0.49
0.49
0.49
2024 1.90
0.48
0.48
0.48
0.48
2023 1.84
0.46
0.46
0.46
0.46
2022 1.76
0.44
0.44
0.44
0.44
2021 1.69
0.42
0.42
0.42
0.42
2020 1.62
0.41
0.41
0.41
0.41
2019 1.55
0.39
0.39
0.39
0.39
2018 1.49
0.37
0.37
0.37
0.37
2017 1.43
0.36
0.36
0.36
0.36
2016 1.37
0.34
0.34
0.34
0.34
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 35 30 19 25
Receivables 217 205 220 153
Inventory 160 193 236 264
Other 250 228 254 273
662 656 729 715
2023 2024 2025 Q'26
Payables 143 125 163 130
ST’ Debt 364 354 388 226
Other 268 292 327 294
775 771 878 650

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%

Revenue $m

Mar Jun Sep Dec Year
’26 570 413 — — —
’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 — — —
’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) — — —
’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.

EPS $

Mar Jun Sep Dec Year
’26 1.11 0.43 — — —
’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.

Target Price Range

Analyst price targets

Recommendation Rating

3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 34.31 37.78 41.92 39.75 32.09 36.68 35.72 30.53 31.91 34.80

Analyst estimates 2026–2028

Powerpack
High 45.22 52.83 52.91 49.47 53.00 49.14 46.90 45.29 39.99 43.09
People
People Employees 1,742 1,744 1,766 1,796 — 1,809 1,767 1,858 1,950 1,929
Revenue/emp, $m 0.83 0.83 0.79 0.75 0.00 0.80 0.97 0.94 0.99 1.02
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
Gross margin, % 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
EBT 215 199 163 228 137 159 138 137 183 217
EBT margin, % 14.93 13.74 11.64 16.95 10.33 11.08 8.07 7.82 9.44 11.05
Net income 137 116 137 197 129 147 155 171 180 193
Depreciation 186 181 193 210 227 235 255 268 276 291
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
Earnings 2.16 1.80 2.08 2.98 1.91 2.10 2.13 2.24 2.29 2.38
Cash flow 5.64 6.36 5.51 6.01 4.87 3.82 1.70 5.85 6.78 5.79
Capex (6.40) (6.39) (6.46) (6.68) (5.95) (6.29) (6.19) (6.53) (6.77) (7.04)
Free cash flow (0.76) (0.03) (0.95) (0.67) (1.08) (2.47) (4.49) (0.68) 0.01 (1.25)
Book value 25.96 26.83 27.01 29.29 29.87 30.80 31.99 32.53 32.91 33.45
Shares, m 64 64 66 66 68 70 73 76 79 81
Valuation, ×
Valuation, × P/E 18.56 28.45 20.42 16.14 21.02 20.23 21.03 16.17 16.14 16.19
P/S 1.75 2.30 2.00 2.37 2.06 2.07 1.91 1.57 1.49 1.59
P/B 1.53 1.92 1.57 1.64 1.34 1.38 1.40 1.11 1.11 1.15
EV/Sales 3.03 3.62 3.49 3.94 3.77 3.78 3.55 3.22 3.03 3.21
EV/FCF (90.27) (2,563.23) (78.12) (119.80) (67.90) (31.48) (18.49) (108.66) 5,873.70 (62.33)
Cash, $m
Cash, $m Operating cash flow 358 410 362 398 331 267 124 447 534 469
Capex (407) (412) (424) (443) (404) (440) (452) (499) (533) (570)
Free cash flow (48) (2) (62) (44) (73) (173) (328) (52) 1 (101)
Balance, $m
Balance, $m Working capital (56) (360) (293) (226) (162) (479) (243) (113) (115) (149)
Total debt 1,854 1,926 2,105 2,133 2,263 2,484 2,809 2,931 3,020 3,194
Net debt 1,845 1,910 2,090 2,123 2,249 2,462 2,796 2,896 2,990 3,175
Shareholders’ equity 1,648 1,730 1,774 1,939 2,030 2,155 2,335 2,485 2,591 2,709
Returns, %
Returns, % ROA 2.69 2.14 2.42 3.32 2.07 2.22 2.17 2.26 2.30 2.37
ROIC 5.36 5.02 4.22 3.24 3.40 3.09 2.31 3.00 3.43 3.76
ROE 8.64 6.86 7.79 10.61 6.52 7.04 6.91 7.10 7.09 7.28
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

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 $53.6B 24.0× 17.8× −0.10% (below 0%: shrinking) +71.83% (above 0%: growing) +39.61% (above 0%: growing) 96.40% 27.76% Compare
BIP Brookfield Infrastructure Partners LP $24.3B 60.4× 33.4× +19.40% (above 0%: growing) n/m +17.47% (above 0%: growing) 24.53% 22.77% Compare
AES The AES Corporation $10.7B 5.7× 7.3× +19.86% (above 0%: growing) n/m −67.70% (below 0%: shrinking) 20.22% 13.12% Compare
ELPC Companhia Paranaense de Energia - Copel Unsponsored ADR $10.2B 20.0× — — +100.00% (above 0%: growing) — — — Compare
AVA Avista Corporation $3.0B 13.2× 16.3× +0.49% (above 0%: growing) +152.94% (above 0%: growing) +47.57% (above 0%: growing) 100.00% 13.08%
UTL Unitil Corporation $972.6M 17.1× 15.7× +14.04% (above 0%: growing) +4.00% (above 0%: growing) +505.00% (above 0%: growing) 61.71% 13.16% Compare
Median of peers $10.7B 20.0× 16.8× +16.72% +71.83% +28.54% 43.12% 17.97%

All 6 Utilities Diversified stocks →

Avista Corporation (AVA) key facts

  • Strength: Avista Corporation’s revenue for fiscal 2025 (year ended December 2025) was $2.0 billion, up 1.34% from fiscal 2024.
  • Strength: Net income was $193.0 million, or $2.38 per share (basic), a net margin of 9.83%.
  • Avista Corporation (AVA) is an Utilities Diversified company in the Utilities sector, listed on the New York Stock Exchange.
  • As of October 16, 2026, AVA traded at $36.67, a market capitalization of $3.0 billion.
  • At that price the stock trades at 13.2× trailing-twelve-month earnings and 1.6× sales; its P/E is higher than 1% of its own readings over the past ten years.
  • Avista Corporation pays an annual dividend of $1.97 per share, a yield of 5.37%, with a payout ratio of 71.0%.
  • Return on equity was 7.28% and debt-to-equity 1.16.
  • Its Piotroski F-score is 4 out of 9 and its Altman Z-score is 0.84 (distress zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

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stockrow.com/AVA · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com