Avista (AVA) financial statements
Avista reported revenue of $2.0B in fiscal 2025, up 3.5% a year over 9 years.
Net income was $193M and the operating margin 18.0%, against 20.8% in 2016.
Free cash flow was -$101M, and the company returned $159M in dividends.
The diluted share count rose 27% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Avista's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.4B | $1.4B | $1.4B | $1.3B | $1.3B | $1.4B | $1.7B | $1.8B | $1.9B | $2.0B |
| Operating income | $300M | $292M | $261M | $210M | $233M | $228M | $190M | $258M | $306M | $354M |
| Interest expense | $86M | $95M | $100M | $103M | — | — | — | — | — | — |
| Pre-tax income | $215M | $199M | $163M | $228M | $137M | $159M | $138M | $137M | $183M | $217M |
| Income tax | $78M | $83M | $26M | $31M | $7M | $12M | -$17M | -$34M | $3M | $24M |
| Net income | $137M | $116M | $136M | $197M | $129M | $147M | $155M | $171M | $180M | $193M |
| EPS (diluted) | $2.15 | $1.79 | $2.07 | $2.97 | $1.90 | $2.10 | $2.12 | $2.24 | $2.29 | $2.38 |
| Diluted shares | 64M | 65M | 66M | 66M | 68M | 70M | 73M | 76M | 79M | 81M |
| Operating margin | 20.8% | 20.2% | 18.7% | 15.6% | 17.6% | 15.9% | 11.1% | 14.7% | 15.8% | 18.0% |
| Net margin | 9.5% | 8.0% | 9.8% | 14.6% | 9.8% | 10.2% | 9.1% | 9.8% | 9.3% | 9.8% |
Balance sheet
Fiscal years, from Avista's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $9M | $16M | $15M | $10M | $14M | $22M | $13M | $35M | $30M | $19M |
| Receivables | — | — | — | — | — | — | — | — | $205M | $220M |
| Inventory | $53M | $58M | $64M | $67M | $67M | $85M | $108M | $160M | $193M | $236M |
| Total current assets | $351M | $338M | $347M | $305M | $344M | $434M | $722M | $662M | $656M | $729M |
| Goodwill | $58M | $58M | $58M | $52M | $52M | $52M | $52M | $52M | $52M | $52M |
| Total assets | $5.3B | $5.5B | $5.8B | $6.1B | $6.4B | $6.9B | $7.4B | $7.7B | $7.9B | $8.4B |
| Total current liabilities | $408M | $698M | $640M | $531M | $506M | $913M | $965M | $775M | $771M | $878M |
| Long-term debt | $1.7B | $1.5B | $1.8B | $1.8B | $2.0B | $1.9B | $2.3B | — | — | — |
| Total liabilities | $3.7B | $3.8B | $4.0B | $4.1B | $4.4B | $4.7B | $5.1B | $5.2B | $5.3B | $5.7B |
| Shareholders' equity | $1.6B | $1.7B | $1.8B | $1.9B | $2.0B | $2.2B | $2.3B | $2.5B | $2.6B | $2.7B |
| Net debt | $1.7B | $1.5B | $1.7B | $1.9B | $2.0B | $2.1B | $2.3B | -$20M | -$30M | -$19M |
Cash flow
Fiscal years, from Avista's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $358M | $410M | $362M | $398M | $331M | $267M | $124M | $447M | $534M | $469M |
| Capital spending | $407M | $412M | $424M | $443M | $404M | $440M | $452M | $499M | $533M | $570M |
| Free cash flow | -$48M | -$2M | -$62M | -$44M | -$73M | -$173M | -$328M | -$52M | $1M | -$101M |
| Stock-based compensation | $8M | $7M | $5M | $11M | $6M | $5M | $9M | $8M | $9M | $9M |
| Dividends paid | $87M | $92M | $98M | $103M | $110M | $118M | $129M | $141M | $150M | $159M |
| Share buybacks (net) | $0 | $0 | — | — | — | — | — | — | — | — |
| Net borrowing | $97M | $72M | $187M | $83M | $127M | $218M | $579M | $136M | $89M | $173M |
| Free cash flow margin | -3.4% | -0.1% | -4.5% | -3.3% | -5.5% | -12.0% | -19.2% | -3.0% | 0.1% | -5.1% |
| Dividends per share | $1.36 | $1.43 | $1.49 | $1.55 | $1.62 | $1.69 | $1.76 | $1.84 | $1.90 | $1.96 |
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Open AVA in InvestinglyQuestions
What was Avista's revenue in 2025?
$2.0B in fiscal 2025, from its 10-K filing.
How much free cash flow does Avista generate?
-$101M in fiscal 2025 (operating cash flow minus capital spending).
From Avista's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.