Avista Corp

Utilities
Power Generation
www.avistacorp.com

Earnings Score
Moat Score
Safety Score

Market Cap $3.31B
PE 18
Debt $354.00M
Cash $30.00M
EV $3.63B
FCF $1.00M

Earnings

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Sales & Net Margins

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Earnings	$180.00M
EBIT	$306.00M
ROE	7%
ROA	4%
FCF	$1.00M
Equity	$2.59B
Growth Stability	86%
PE	18.37
PEG	2.09
PB	1.28
P/FCF	3.31K
P/S	1.71
Price/Cash	0.01
Debt/Equity	0.14
Debt/FCF	354
Net Margins	9%
Op. Margins	16%
Earnings CAGR	3%
Sales Growth YoY	3%
Sales Growth QoQ	35%
Sales CAGR	3%
FCF CAGR	-1%
Equity CAGR	6%
Earnings Stability	0.24
Earnings Growth YoY	-20%
Earnings Growth QoQ	263%

Earnings CAGR 5Y	9%
Sales CAGR 5Y	10%
Equity CAGR 5Y	6%
Earnings CAGR 3Y	9%
Sales CAGR 3Y	9%
Equity CAGR 3Y	6%
Market Cap	$3.31B
Revenue	$1.94B
Dividend Yield	5%
Payout Ratio	83%
Assets	$7.94B
Total Debt	$354.00M
Cash	$30.00M
Shares Outstanding	78.6M
EV	3.63B
Earnings Score	9%
Moat Score	70%
Safety Score	72%
Final Score	50%
Working Capital	-115M
Current Ratio	0.85
Shares Growth 3y	4%
Equity Growth QoQ	2%
Equity Growth YoY	4%

Assets & ROA

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Stockholders Equity & ROE

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Avista Corp is an electric and natural gas utility company headquartered in Spokane, Washington. Avista primarily operates in the Pacific Northwest of the United States along with some operations in Juneau, Alaska. The company has two major business segments including Avista Utilities, which provides electric distribution and transmission, and natural gas distribution services in parts of eastern Washington and northern Idaho and also provides natural gas distribution service in parts of northeastern and southwestern Oregon. Avista Utilities has electric generating facilities in Washington, Idaho, Oregon and Montana.

SEC Filings

Direct access to Avista Corp (AVA) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Avista Corp compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Avista Corp compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 3%

Stability 24%

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Avista Corp Discounted Cash Flow

Fully customizable DCF calculator online for Avista Corp.

Years

Calculation mode

= $9.1M

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$1M	$986K	$972K	$958K	$944K	$931K	$917K	$904K	$891K	$879K	$866K	$8.7M
DCF		$896K	$803K	$720K	$645K	$578K	$518K	$464K	$416K	$373K	$334K	$3.3M
Value	$9.1M

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Net Margins	8%	10%	8%	10%	15%	10%	10%	9%	10%	9%	9%
ROA	-	6%	5%	5%	5%	4%	3%	3%	3%	4%	4%
ROE	-	8%	7%	8%	10%	6%	7%	7%	7%	7%	7%

Net Margins (9.29%)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Debt over FCF	-	-36.91	-279.9	-30.71	-44.97	-30.17	-12.64	-8.37	-6.77	354	354
Debt over Equity	1.13	1.09	1.02	1.1	1.05	1.09	1.01	1.18	0.14	0.14	0.14
Growth Stability	-	-	-	100%	100%	86%	96%	98%	100%	100%	86%

Bad Debt/FCF ratio (354)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Good Debt/Equity ratio (0.14)

The company is not overleveraged and has a good balance between equity and debt.

Neutral Graham’s Stability (86%)

The company has a stability in its earnings that is not too good nor too bad.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	CAGR 5Y
Revenue YoY growth	-	-3%	0%	-3%	-4%	-2%	9%	19%	2%	11%	10%
Earnings YoY growth	-	11%	-16%	18%	44%	-34%	14%	5%	10%	5%	9%
Equity YoY growth	-	8%	5%	3%	9%	5%	6%	8%	6%	4%	6%
FCF YoY growth	-	161%	-87%	902%	-29%	62%	135%	90%	-84%	-102%	-