Avista Corp. (AVA) intrinsic value & 10-year financials
Avista Corp. (AVA) has a Graham intrinsic value of $22.13 per share. At $36.67 on Oct 17, 2026, the stock trades 66% above that value. Over the last 10 fiscal years revenue grew 3.5% a year to $2.0B, with an average return on invested capital of 6.6%.
- Graham intrinsic value
- $22.13
- Share price (Oct 17, 2026)
- $36.67
- Price vs Graham value
- 66% above
- Market cap
- $3.0B
- Revenue (FY2025)
- $2.0B
- Revenue growth (10-yr CAGR)
- 3.5%
- ROIC (10-yr avg)
- 6.6%
- Free cash flow (FY2025)
- -$101.0M
AVA 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $2.0B | $193.0M | $2.38 | -$101.0M | 18.0% | 10.8% |
| FY2024 | $1.9B | $180.0M | $2.29 | $1.0M | 15.8% | 11.5% |
| FY2023 | $1.8B | $171.2M | $2.24 | -$51.6M | 14.7% | 7.1% |
| FY2022 | $1.7B | $155.2M | $2.12 | -$327.8M | 11.1% | 4.2% |
| FY2021 | $1.4B | $147.3M | $2.10 | -$172.6M | 15.9% | 4.9% |
| FY2020 | $1.3B | $129.5M | $1.90 | -$73.3M | 17.6% | 5.6% |
| FY2019 | $1.3B | $197.0M | $2.97 | -$44.3M | 15.6% | 5.0% |
| FY2018 | $1.4B | $136.4M | $2.07 | -$62.5M | 18.7% | 6.5% |
| FY2017 | $1.4B | $115.9M | $1.79 | -$2.0M | 19.7% | 5.1% |
| FY2016 | $1.4B | $137.2M | $2.15 | -$48.4M | 20.1% | 5.6% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
AVISTA CORP has demonstrated mature, steady growth, with revenue compounding at 3.5% annually over the past decade.
AVISTA CORP has historically struggled to out-earn its cost of capital, averaging just 6.6% ROIC.
AVISTA CORP has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, AVISTA CORP is modeled at 1.1% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $22.13 per share.