Avista Corporation (AVA) Key Metrics
AVA valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $3.07B
- Enterprise value
- $6.30B
- P/E (TTM)
- 13.2 10-yr median 19.4
- Forward P/E
- 13.0
- PEG ratio
- 2.27
- Price / sales
- 1.6 10-yr median 2.0
- Price / book
- 1.1 10-yr median 1.4
- EV / EBITDA
- 9.7 10-yr median 10.8
- Dividend yield
- 5.37% $1.97 a year
- Beta
- 0.21
AVA key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsAVA valuation Price multiples at each fiscal year-end price.
AVA returns How much profit the business earns on the capital it uses.
AVA per-share figures Results divided by the shares outstanding at year-end.
AVA financial health Debt, liquidity and how easily interest is covered.
AVA efficiency & capital use Working capital cycle and where the cash goes.
AVA valuation history
AVA returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
AVA debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
AVA cash returned to shareholders
AVA price vs earnings per share
AVA key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $3.12B | $2.89B | $2.73B | $3.24B | $2.98B | $2.73B | $3.19B | $2.80B | $3.34B | $2.56B |
| Enterprise value | $6.48B | $5.97B | $5.73B | $6.15B | $5.56B | $5.11B | $5.44B | $4.89B | $5.25B | $4.40B |
| P/E ratio | 16.2 | 16.0 | 16.0 | 20.9 | 20.2 | 21.1 | 16.2 | 20.5 | 28.8 | 18.6 |
| Price / sales | 1.6 | 1.5 | 1.6 | 1.9 | 2.1 | 2.1 | 2.4 | 2.0 | 2.3 | 1.8 |
| Price / book | 1.2 | 1.1 | 1.1 | 1.4 | 1.4 | 1.3 | 1.6 | 1.6 | 1.9 | 1.6 |
| Price / operating cash flow | 6.7 | 5.4 | 6.1 | 26.1 | 11.1 | 8.3 | 8.0 | 7.7 | 8.1 | 7.1 |
| EV / sales | 3.3 | 3.1 | 3.3 | 3.6 | 3.9 | 3.9 | 4.0 | 3.5 | 3.6 | 3.1 |
| EV / EBITDA | 9.9 | 9.9 | 10.6 | 13.8 | 12.1 | 11.3 | 10.2 | 10.9 | 11.1 | 9.5 |
| Earnings yield | 6.2% | 6.2% | 6.3% | 4.8% | 4.9% | 4.7% | 6.2% | 4.9% | 3.5% | 5.4% |
| Free cash flow yield | −3.2% | 0.0% | −1.9% | −10.1% | −5.8% | −2.7% | −1.4% | −2.2% | −0.1% | −1.9% |
| Dividend yield | 5.1% | 5.2% | 5.2% | 4.0% | 4.0% | 4.0% | 3.2% | 3.5% | 2.8% | 3.4% |
| Shareholder yield (dividends + buybacks) | 5.1% | 5.2% | 5.2% | 4.0% | 4.0% | 4.0% | 3.2% | 3.5% | 2.8% | 3.4% |
| Share price at fiscal year-end | $38.54 | $36.63 | $35.74 | $44.34 | $42.49 | $40.14 | $48.09 | $42.48 | $51.49 | $39.99 |
| Per share | ||||||||||
| Revenue per share | $24.23 | $24.59 | $22.90 | $23.40 | $20.53 | $19.41 | $20.29 | $21.18 | $22.31 | $22.57 |
| Earnings per share | $2.38 | $2.28 | $2.24 | $2.12 | $2.10 | $1.90 | $2.97 | $2.07 | $1.79 | $2.15 |
| Operating cash flow per share | $5.79 | $6.77 | $5.84 | $1.70 | $3.81 | $4.86 | $6.00 | $5.49 | $6.33 | $5.60 |
| Free cash flow per share | −$1.25 | $0.01 | −$0.67 | −$4.48 | −$2.46 | −$1.08 | −$0.67 | −$0.95 | −$0.03 | −$0.76 |
| Cash per share | $0.23 | $0.38 | $0.46 | $0.18 | $0.32 | $0.21 | $0.15 | $0.22 | $0.25 | $0.13 |
| Book value per share | $33.42 | $32.87 | $32.49 | $31.94 | $30.74 | $29.80 | $29.24 | $26.89 | $26.69 | $25.79 |
| Tangible book value per share | $32.56 | $31.98 | $31.56 | $30.98 | $29.88 | $29.03 | $28.45 | $26.01 | $24.91 | $23.99 |
| Dividends per share | $1.96 | $1.90 | $1.84 | $1.77 | $1.69 | $1.62 | $1.55 | $1.49 | $1.43 | $1.36 |
| Capex per share | $7.03 | $6.76 | $6.52 | $6.18 | $6.28 | $5.94 | $6.67 | $6.43 | $6.36 | $6.37 |
| Debt per share | $41.65 | $39.55 | $39.66 | $40.00 | $37.14 | $35.05 | $34.03 | $31.92 | $29.72 | $29.00 |
| Shares outstanding | 81.1M | 78.8M | 76.5M | 73.1M | 70.1M | 68.1M | 66.3M | 65.9M | 64.8M | 63.9M |
| Change in shares outstanding | +2.8% | +3.0% | +4.7% | +4.3% | +2.9% | +2.7% | +0.6% | +1.8% | +1.4% | +1.9% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 7.3% | 7.1% | 7.1% | 6.9% | 7.0% | 6.5% | 10.6% | 7.8% | 6.9% | 8.6% |
| Return on invested capital (ROIC) | 5.4% | 5.4% | 4.8% | 3.8% | 4.6% | 5.1% | 4.5% | 5.8% | 4.7% | 5.5% |
| Return on assets (ROA) | 2.3% | 2.3% | 2.3% | 2.2% | 2.2% | 2.1% | 3.3% | 2.4% | 2.1% | 2.7% |
| Return on tangible assets | 2.3% | 2.3% | 2.2% | 2.1% | 2.2% | 2.0% | 3.3% | 2.4% | 2.1% | 2.6% |
| Free cash flow margin | −5.1% | 0.1% | −2.9% | −19.2% | −12.0% | −5.5% | −3.3% | −4.5% | −0.1% | −3.4% |
| Income quality (OCF / net income) | 2.43 | 2.97 | 2.61 | 0.80 | 1.81 | 2.56 | 2.02 | 2.65 | 3.54 | 2.61 |
| Financial health | ||||||||||
| Total debt | $3.38B | $3.12B | $3.03B | $2.92B | $2.60B | $2.39B | $2.26B | $2.10B | $1.93B | $1.85B |
| Cash & short-term investments | $19.0M | $30.0M | $35.0M | $13.4M | $22.2M | $14.2M | $9.9M | $14.7M | $16.2M | $8.5M |
| Net debt | $3.36B | $3.09B | $3.00B | $2.91B | $2.58B | $2.37B | $2.25B | $2.09B | $1.91B | $1.85B |
| Debt / equity | 1.25 | 1.20 | 1.22 | 1.25 | 1.21 | 1.18 | 1.16 | 1.19 | 1.11 | 1.12 |
| Debt / assets | 0.39 | 0.39 | 0.39 | 0.39 | 0.38 | 0.37 | 0.37 | 0.36 | 0.35 | 0.35 |
| Net debt / EBITDA | 5.13 | 5.13 | 5.53 | 6.52 | 5.62 | 5.27 | 4.21 | 4.68 | 4.02 | 3.97 |
| Current ratio | 0.83 | 0.85 | 0.85 | 0.75 | 0.48 | 0.68 | 0.57 | 0.54 | 0.48 | 0.86 |
| Quick ratio | 0.56 | 0.60 | 0.65 | 0.64 | 0.38 | 0.55 | 0.45 | 0.44 | 0.40 | 0.73 |
| Interest coverage | 2.4 | 2.1 | 1.8 | 1.7 | 2.2 | 2.3 | 2.1 | 2.7 | 3.1 | 3.4 |
| Working capital | −$149.0M | −$115.0M | −$113.0M | −$242.7M | −$478.6M | −$161.9M | −$225.6M | −$292.7M | −$360.0M | −$56.2M |
| Invested capital | $6.07B | $5.68B | $5.48B | $5.24B | $4.74B | $4.40B | $4.19B | $3.86B | $3.64B | $3.49B |
| Tangible asset value | $2.64B | $2.52B | $2.41B | $2.26B | $2.09B | $1.98B | $1.89B | $1.72B | $1.62B | $1.53B |
| Net current asset value | −$5.21B | −$4.69B | −$4.55B | −$4.36B | −$4.26B | −$4.03B | −$3.84B | −$3.66B | −$3.45B | −$3.31B |
| Graham number | $42.32 | $41.10 | $40.44 | $39.06 | $38.13 | $35.71 | $44.20 | $35.38 | $32.78 | $35.30 |
| Graham net-net per share | −$69.14 | −$64.02 | −$64.29 | −$65.68 | −$63.63 | −$61.15 | −$59.80 | −$58.19 | −$55.55 | −$54.05 |
| Capital allocation | ||||||||||
| Dividends paid | $159.0M | $150.0M | $140.9M | $129.1M | $118.2M | $110.3M | $102.8M | $98.0M | $92.5M | $87.2M |
| Share buybacks (net) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividend payout ratio | 82.4% | 83.3% | 82.3% | 83.2% | 80.2% | 85.1% | 52.2% | 71.9% | 79.8% | 63.5% |
| Capex / revenue | 29.0% | 27.5% | 28.5% | 26.4% | 30.6% | 30.6% | 32.9% | 30.4% | 28.5% | 28.2% |
| Capex / operating cash flow | 121.5% | 99.8% | 111.5% | 363.9% | 164.6% | 122.1% | 111.1% | 117.3% | 100.5% | 113.6% |
| Capex / depreciation | 1.97 | 1.95 | 1.88 | 1.79 | 1.89 | 1.80 | 2.15 | 2.27 | 2.35 | 2.47 |
| Stock-based compensation / revenue | 0.5% | 0.5% | 0.5% | 0.5% | 0.3% | 0.4% | 0.8% | 0.4% | 0.5% | 0.5% |
| SG&A / revenue | 1.8% | 1.9% | 1.7% | 7.4% | 8.0% | 8.5% | 9.3% | 9.7% | 9.2% | 8.6% |
| Efficiency | ||||||||||
| Days sales outstanding | 46.1 | 45.5 | 55.5 | 55.4 | 56.6 | 54.0 | 46.6 | 45.9 | 52.3 | 53.4 |
| Days of inventory on hand | 52.6 | 80.7 | 69.6 | 47.7 | 55.9 | 61.4 | 54.1 | 45.0 | 38.8 | 35.6 |
| Days payables outstanding | 35.3 | 61.3 | 89.9 | 83.3 | 88.0 | 99.3 | 90.7 | 79.6 | 77.5 | 76.1 |
| Cash conversion cycle (days) | 63.4 | 64.9 | 35.1 | 19.8 | 24.5 | 16.1 | 10.0 | 11.4 | 13.5 | 12.9 |
| Receivables turnover | 7.92 | 8.02 | 6.58 | 6.59 | 6.45 | 6.76 | 7.83 | 7.95 | 6.98 | 6.84 |
| Payables turnover | 10.34 | 5.96 | 4.06 | 4.38 | 4.15 | 3.68 | 4.02 | 4.59 | 4.71 | 4.80 |
| Inventory turnover | 6.94 | 4.52 | 5.25 | 7.65 | 6.53 | 5.95 | 6.74 | 8.11 | 9.42 | 10.26 |
| Asset turnover | 0.24 | 0.25 | 0.23 | 0.24 | 0.22 | 0.21 | 0.23 | 0.25 | 0.27 | 0.28 |
| Average receivables | $248.0M | $241.5M | $266.2M | $259.6M | $223.1M | $195.6M | $171.8M | $175.7M | $207.1M | $211.0M |
| Average payables | $144.0M | $134.0M | $173.0M | $168.0M | $119.9M | $108.4M | $109.3M | $107.8M | $111.4M | $114.9M |
| Average inventory | $214.5M | $176.5M | $133.8M | $96.2M | $76.1M | $67.0M | $65.2M | $61.0M | $55.7M | $53.7M |
| Intangibles / total assets | 0.8% | 0.9% | 0.9% | 0.9% | 0.9% | 0.8% | 0.9% | 1.0% | 2.1% | 2.2% |
Computed from AVA's annual financial statements (latest annual report filed February 25, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
AVA valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Avista traded at 16.2 times earnings, against a 10-year median of 19.4. Based on the latest twelve months, the trailing P/E is 13.2 and the forward P/E is 13.0. Avista earned a return on equity of 7.3% and a return on invested capital of 5.4% in fiscal 2025. It ended the year with $3.4 billion of debt and $19.0 million in cash and short-term investments, net debt of $3.4 billion. It returned $159.0 million to shareholders: $159.0 million in dividends and $0 in share buybacks. The share count rose 26.8% from 63.9M to 81.1M over 9 years.
See the AVA income statement, the AVA chart for price history, or the AVA stock overview for the latest quote and news.
AVA key metrics FAQ
What is Avista's P/E ratio?
Avista's trailing P/E ratio is 13.2 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 13.0. At the end of fiscal 2025 it was 16.2, compared with a 10-year median of 19.4.
What is Avista's EV/EBITDA?
Avista's enterprise value was 9.9 times EBITDA at the end of fiscal 2025 (enterprise value $6.5 billion, EBITDA $654.0 million); the current EV/EBITDA is 9.7.
What is Avista's return on equity?
Avista's return on equity (ROE) was 7.3% in fiscal 2025: net income of $193.0 million on average shareholders' equity of $2.6 billion.
What is Avista's ROIC?
Avista's return on invested capital was 5.4% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Avista have?
Avista had total debt of $3.4 billion at the end of fiscal 2025, a debt-to-equity ratio of 1.25 and $3.4 billion of net debt (5.13 times EBITDA).
What is Avista's dividend yield?
Avista's forward dividend yield is 5.37%. Avista paid $159.0 million in dividends in fiscal 2025 ($1.96 per share), a payout ratio of 82.4%.
What is Avista's free cash flow yield?
Avista generated -$101.0 million of free cash flow in fiscal 2025, a free cash flow yield of −3.2% on its market value at year-end ($3.1 billion).
What is Avista's current ratio?
Avista's current ratio was 0.83 at the end of fiscal 2025: current assets were 0.83 times current liabilities.
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