Avanos MEDICAL, Inc. (AVNS) intrinsic value & 10-year financials
Avanos MEDICAL, Inc. (AVNS) has a Graham intrinsic value of $12.28 per share. Over the last 10 fiscal years revenue grew 2.4% a year to $701.2M, with an average return on invested capital of -4.0%.
- Graham intrinsic value
- $12.28
- Revenue (FY2025)
- $701.2M
- Revenue growth (10-yr CAGR)
- 2.4%
- ROIC (10-yr avg)
- -4.0%
- Free cash flow (FY2025)
- $43.1M
AVNS 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $701.2M | -$72.9M | -$1.57 | $43.1M | -8.8% | -7.3% |
| FY2024 | $687.8M | -$392.1M | -$8.53 | $82.9M | -57.6% | -34.1% |
| FY2023 | $673.3M | -$61.8M | -$1.32 | $14.6M | 0.6% | 0.3% |
| FY2022 | $820.0M | $50.5M | $1.07 | $71.6M | 9.0% | 4.2% |
| FY2021 | $744.6M | $5.2M | $0.11 | $66.3M | 1.2% | 0.6% |
| FY2020 | $714.8M | -$27.2M | -$0.57 | -$22.7M | -6.4% | -1.7% |
| FY2019 | $697.6M | -$45.9M | -$0.96 | -$125.1M | -8.0% | -3.2% |
| FY2018 | $652.3M | $57.5M | $1.22 | -$194.7M | 0.1% | 0.0% |
| FY2017 | $611.6M | $79.3M | $1.69 | $101.0M | -7.0% | -2.7% |
| FY2016 | $566.2M | $39.8M | $0.85 | $159.7M | 15.4% | 4.0% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
AVANOS MEDICAL, INC. has demonstrated mature, steady growth, with revenue compounding at 2.4% annually over the past decade.
AVANOS MEDICAL, INC. has historically struggled to out-earn its cost of capital, averaging just -4.0% ROIC.
AVANOS MEDICAL, INC. 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, AVANOS MEDICAL, INC. is modeled at 2.4% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $12.28 per share.