$41.47

+0.55 (+1.34%)

Weekly Expected Move ±2.7%

$38 $39 $40 $41 $43

NYSE · Utilities · Diversified Utilities · Alpha Radar Buy · Power 59 · $3.4B mcap · 82M float · 0.750% daily turnover · Short 58% of daily vol

Edge Score

Quantitative competitive moat analysis scoring five pillars of durable advantage — cost leadership, brand intangibles, switching costs, network effects, and efficient scale — using industry percentile rankings on a 0–100 scale.

WEAK EDGE

49.5 / 100

NoneWeakNarrowWide

Primary source: Efficient Scale · ROIC: 5.3% · 5Y Avg: 3.8%

Cost Advantage

Intangibles

Switching Cost

Network Effect

Scale ★

The Edge Score quantifies a company's competitive moat using five pillars: Cost Advantage (20%, operating margin and SG&A efficiency vs industry peers), Intangible Assets (25%, gross margin premium, R&D intensity, brand pricing power), Switching Costs (25%, revenue stability, earnings consistency, customer retention proxied by operating leverage), Network Effects (15%, revenue growth with expanding margins, market share dominance), and Efficient Scale (15%, market concentration, ROIC sustainability). Each pillar is scored 0–100 using industry percentile rankings, then weighted into a composite. Wide ≥ 70, Narrow ≥ 55, Weak ≥ 40, None < 40. AVA shows a Weak competitive edge (49.5/100) — limited structural advantages that may face competitive pressure. The primary source of advantage is Efficient Scale. ROIC of 5.3% suggests modest returns relative to capital deployed.

Analyst Insights

Wall Street analyst consensus based on price targets and buy/sell/hold recommendations from institutional research coverage over the trailing 12 months.

Analyst Price Targets

Low

$40

Avg Target

$40

High

Based on 6 analyst ratings (12 mo)

Analyst Recommendations

Strong Buy: 0Buy: 0Hold: 11Sell: 4Strong Sell: 0

Rating Summary

ConsensusHold

Avg Target$40.00

Analysts3

Price Target Change History

Date	Firm	Analyst	Old	New	Change	Upside @ Call	Stock@Call
2026-04-21	Wells Fargo	—	$38	$39	+1	-5.5%	$41.27
2026-04-15	Barclays	Michael Lonegan	$40	$41	+1	-1.7%	$41.70
2026-03-09	Barclays	—	Initiated	$40	—	+0.8%	$39.67
2025-11-06	Mizuho Securities	Anthony Crowdell	$36	$42	+6	+3.9%	$40.42
2025-10-27	Wells Fargo	Shahriar Pourreza	Initiated	$38	—	-2.6%	$39.00
2025-10-22	Jefferies	—	$40	$41	+1	+5.5%	$38.87
2024-12-09	Jefferies	Julien Dumoulin-Smith	Initiated	$40	—	+7.1%	$37.36
2024-05-03	Mizuho Securities	Anthony Crowdell	$44	$36	-8	-2.1%	$36.79
2024-01-22	Guggenheim	Shahriar Pourreza	Initiated	$34	—	+1.0%	$33.66
2022-11-01	KeyBanc	Sophie Karp	Initiated	$33	—	-12.8%	$37.83
2022-09-23	Mizuho Securities	Anthony Crowdell	Initiated	$44	—	+9.1%	$40.33

Financial Rating

Composite financial health rating (A+ to F) based on discounted cash flow valuation, return on equity, return on assets, debt-to-equity leverage, and relative P/E and P/B multiples.

B+

May 22, 2026

DCF

ROE

ROA

D/E

P/E

P/B

The Financial Rating evaluates six fundamental factors — discounted cash flow (DCF) valuation, return on equity (ROE), return on assets (ROA), debt-to-equity leverage (D/E), and relative price-to-earnings (P/E) and price-to-book (P/B) multiples — each scored 1–5. AVA receives an overall rating of B+. Strongest factors: DCF (4/5).

Rating Change History

Date	From	To
2026-05-20	A-	B+
2026-05-05	B+	A-
2026-04-01	A-	B+
2026-03-31	B+	A-
2026-03-27	A-	B+
2026-03-26	B+	A-
2026-03-25	A-	B+
2026-03-09	B+	A-
2026-03-02	B-	B+
2026-02-27	C-	B-

InsiderStreet Scorecard

Proprietary multi-factor scorecard rating companies across seven fundamental dimensions — profitability, balance sheet strength, earnings quality, growth, value, momentum, and safety — each scored 0–100.

★ ★ ★ ★ ★ 51 Grade A

Profitability

Balance Sheet

Earnings Quality

Growth

Value

Momentum

Safety

Cash Flow

The InsiderStreet Scorecard rates companies across eight dimensions: Profitability (margins, ROA, ROE), Balance Sheet (leverage, liquidity, coverage), Earnings Quality (accruals, cash conversion), Growth (revenue and earnings trajectory), Value (P/E, P/B, earnings yield, Graham criteria), Momentum (revenue and earnings acceleration), Safety (Altman Z-Score risk adjustment), and Cash Flow (operating cash flow quality, FCF conversion, cash coverage). The overall score blends 35% quality, 35% value, and 30% momentum, with a penalty for distress-zone Altman scores. AVA scores highest in Earnings Quality (80/100) and lowest in Safety (15/100). An overall grade of A places AVA among the highest-quality companies in its peer group.

Risk & Quality Signals

Academic financial models used by institutional investors to assess bankruptcy risk, earnings manipulation, financial strength, and credit quality.

Altman Z-Score

0.83

Distress Zone

Piotroski F-Score

6/9

✓ ✓ ✓ ✓ ✓ ✗ ✗ ✓ ✗

Beneish M-Score

-2.47

Unlikely Manipulator

Ohlson O-Score

-6.60

Bankruptcy prob: 0.1%

Low Risk

Credit Rating

BB-

Score: 35.4/100

Trend: Improving

Earnings Quality

100/100

OCF/NI: 2.25x

Accruals: -3.1%

The Altman Z-Score (1968) combines five ratios — working capital, retained earnings, EBIT, market value of equity, and sales, all relative to total assets or liabilities — into a single bankruptcy predictor. AVA scores 0.83, placing it in the Distress Zone (safe > 2.99, distress < 1.81). Historically, companies in this range face elevated bankruptcy risk. The Piotroski F-Score (2000) is a 9-point binary checklist — four profitability tests (positive ROA, positive cash flow, improving ROA, cash flow exceeding net income), three leverage tests (declining debt ratio, improving current ratio, no share dilution), and two efficiency tests (improving gross margin, improving asset turnover). Each pass scores 1 point. AVA scores 6/9, indicating moderate financial health — some areas of strength offset by weaknesses in others. The Beneish M-Score (1999) is an 8-variable model that detects earnings manipulation by comparing year-over-year changes in receivables, gross margins, asset quality, sales growth, depreciation, SG&A, leverage, and accruals. Scores above −1.78 statistically resemble past manipulators. AVA's score of -2.47 falls below this threshold, suggesting earnings are unlikely to be manipulated. The Ohlson O-Score (1980) is a 9-variable logistic regression that estimates bankruptcy probability using firm size, leverage, working capital, current ratio, profitability (ROA), cash flow coverage, negative equity flag, consecutive losses flag, and earnings trajectory. The raw score is converted to a probability via logistic transformation. AVA's implied 0.1% bankruptcy probability is well within safe territory. Our Credit Rating model scores companies on five weighted components — solvency (30%), earning power (25%), leverage (20%), liquidity (15%), and cash flow quality (10%) — then blends the absolute score with sector and industry peer rankings. For companies with large buyback programs, equity is adjusted by adding back cumulative 5-year repurchases (capped at 80% of FCF generated) to avoid penalizing shareholder-friendly capital allocation. AVA receives an estimated rating of BB- (score: 35.4/100), with a improving trend. The Earnings Quality score measures how well reported earnings are backed by real cash. It evaluates the operating cash flow to net income ratio (OCF/NI ≥ 1.0 means every dollar of earnings is cash-backed) and the accruals ratio (the gap between earnings and cash flow relative to assets — lower is better). AVA's score of 100/100 is high — cash flows strongly support reported earnings.

Valuation

Key valuation multiples comparing the stock's market price to its earnings, revenue, book value, and cash flows. Lower multiples may indicate relative undervaluation versus peers.

P/E

16.58x

PEG

2.15x

P/S

1.79x

P/B

1.23x

P/FCF

7.93x

P/OCF

7.12x

EV/EBITDA

10.02x

EV/Revenue

3.48x

EV/EBIT

17.53x

EV/FCF

15.98x

Earnings Yield

6.23%

FCF Yield

12.61%

Shareholder Yield

0.03%

Graham Number

$43.03

Equity-based multiples (P/E, P/B, P/FCF) compare the stock price to per-share fundamentals and are affected by capital structure. Enterprise value multiples (EV/EBITDA, EV/Revenue, EV/FCF) strip out debt and cash, making them more useful for cross-company comparisons regardless of how companies are financed. The Graham Number — √(22.5 × EPS × Book Value) — is Benjamin Graham's formula for the maximum price a defensive investor should pay. At 16.6x earnings, AVA trades at a reasonable valuation. An earnings yield of 6.2% exceeds typical risk-free rates, suggesting equities are being compensated for risk. Graham's intrinsic value formula yields $43.03 per share, suggesting a potential 4% margin of safety at the current price.

DuPont Decomposition (5-Factor)

The 5-factor DuPont framework breaks Return on Equity into its component drivers — tax efficiency, interest burden, operating profitability, asset utilization, and financial leverage — to reveal what truly drives shareholder returns.

Tax Burden

0.892

NI / EBT

Interest Burden

0.608

EBT / EBIT

EBIT Margin

0.198

EBIT / Rev

Asset Turnover

0.231

Rev / Assets

Equity Multiplier

3.129

Assets / Equity

ROE

7.8%

The 5-factor DuPont identity decomposes ROE as: Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Equity Multiplier = ROE. This reveals whether returns are driven by operating performance, financial leverage, or tax efficiency — three very different sources of profitability. AVA's ROE of 7.8% is driven by financial leverage (equity multiplier: 3.13x). Note: high leverage means ROE is amplified by debt rather than operational performance.

Graham-Dodd Adjusted Valuation

Our adaptation of Graham's growth formula (Fair P/E = 8.5 + 2g) from The Intelligent Investor. The classic version relies on analyst growth projections, which can be unreliable. This adjusted model substitutes the company's realized 3-year EPS CAGR — a backward-looking, verifiable measure of actual earnings power — grounding the valuation in demonstrated performance rather than forecasts.

Adj. Growth Rate

10.79%

Fair P/E

30.08x

Intrinsic Value

$75.25

Price/Value

0.53x

Margin of Safety

46.66%

Premium

-46.66%

Assessment

Undervalued

Graham's classic formula uses analyst-projected growth to estimate a fair P/E (8.5 + 2g). Our adjusted version replaces that projection with AVA's realized 10.8% 3-year EPS CAGR — what the company actually delivered, not what analysts hope for. At an intrinsic value of $75.25, AVA appears undervalued with a 47% margin of safety. The adjusted fair P/E of 30.1x compares to the current market P/E of 16.6x.

Profitability Trends

Historical profitability ratios tracking how efficiently the company converts revenue into returns for shareholders over time.

Leverage & Solvency Trends

Debt and liquidity metrics showing the company's financial leverage and ability to meet short-term and long-term obligations.

Efficiency & Working Capital Trends

Operating efficiency metrics measuring how quickly the company converts inventory to sales, collects receivables, and manages its cash conversion cycle.

Growth Trends (YoY %)

Year-over-year growth rates for key financial metrics, showing the trajectory of revenue, earnings, and cash flow generation.

Earnings Stability

R-squared of linear regression measuring how predictably revenue, earnings, and margins follow a trend over the trailing 5 years. 1.0 = perfectly predictable; lower values indicate erratic or cyclical behavior.

Monte Carlo Price Simulation

Geometric Brownian Motion with 1,000 antithetic paths over 1 year, seeded from 1800 days of historical volatility. Percentile bands show the range of statistically plausible outcomes — this is a statistical model, not a forecast.

Current Price

$41.48

Median 1Y

$41.76

5th Pctile

$26.17

95th Pctile

$67.00

Ann. Volatility

27.6%

Analyst Target

$40.00

25th–75th percentile 5th–95th percentile Median path Historical Analyst target

Executive Compensation

C-suite compensation breakdown including salary, stock awards, options, and incentive pay. The CEO-to-employee pay ratio and Gini coefficient measure pay distribution fairness.

C-Suite Compensation

Executive	Salary	Stock	Total
H. L. Rosentrater President & CEO	$786,845	$2,653,743	$4,773,308
K. J. Christie SVP, CFO, Treasurer, and Regulatory Affairs Officer	$468,269	$921,490	$1,974,314
J. R. Thackston SVP, Growth, Energy Policy & External Relations Officer	$414,692	$674,730	$1,817,455
B. A. Cox SVP, Safety, & Chief People Officer	$379,884	$602,224	$1,545,421
G. C. Hesler SVP, General Counsel, Corporate Secretary & Chief Ethics / Compliance Officer	$443,576	$674,730	$1,462,504

CEO Pay Ratio

Insufficient data for pay ratio.

C-Suite Pay Equality (Gini)

CEO Compensation Mix

Workforce & Productivity

Workforce efficiency metrics measuring revenue, profit, and R&D spend per employee — key indicators of operational leverage and human capital productivity.

Employees

1,929

-1.1% YoY

Revenue / Employee

$1,018,144

Rev: $1,964,000,000

Profit / Employee

$100,052

NI: $193,000,000

SGA / Employee

—

Avg labor cost proxy

Scaling Efficiency

All Ratios & Metrics

Complete fundamental data with up to 20 periods of history, sparkline trends, and current values across 13 categories and 130+ financial metrics.

Profitability

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
ROE	7.3%	7.8%	7.0%	7.2%	7.1%	6.1%	6.9%	6.2%	6.4%	7.4%	7.1%	7.8%	8.0%	8.2%	7.1%	7.4%	7.0%	7.5%	7.3%	7.8%	7.77%
ROA	2.3%	2.5%	2.2%	2.3%	2.2%	1.9%	2.2%	1.9%	2.0%	2.3%	2.3%	2.5%	2.6%	2.6%	2.3%	2.4%	2.3%	2.4%	2.3%	2.5%	2.48%
ROIC	4.9%	5.1%	4.5%	4.8%	4.7%	4.5%	4.1%	3.9%	4.4%	4.9%	5.8%	5.9%	5.9%	6.0%	5.3%	5.4%	5.5%	5.6%	5.2%	5.3%	5.34%
ROCE	4.5%	4.6%	4.4%	4.1%	4.0%	3.9%	3.9%	3.8%	4.0%	4.3%	4.0%	4.4%	4.6%	4.7%	4.6%	4.8%	4.7%	4.9%	4.7%	4.9%	4.89%
Gross Margin	69.6%	65.5%	60.7%	59.6%	58.4%	58.9%	52.2%	59.4%	62.8%	60.9%	57.5%	51.9%	64.2%	63.9%	59.0%	58.5%	68.4%	71.5%	26.6%	63.9%	63.86%
Operating Margin	10.6%	8.2%	16.3%	18.0%	6.4%	5.4%	12.5%	16.1%	11.5%	10.0%	19.2%	16.6%	13.7%	12.4%	19.1%	20.3%	13.9%	14.9%	21.0%	23.5%	23.51%
Net Margin	4.7%	4.9%	11.8%	15.5%	3.0%	-1.6%	15.3%	11.6%	4.6%	3.9%	16.3%	11.7%	5.7%	4.7%	12.6%	12.8%	3.4%	7.2%	13.3%	16.1%	16.14%
EBITDA Margin	32.8%	31.2%	33.0%	32.6%	26.7%	24.2%	32.9%	31.2%	29.6%	29.6%	32.7%	29.2%	31.8%	31.0%	32.9%	32.3%	29.9%	35.2%	35.6%	36.8%	36.84%
FCF Margin	-7.9%	-10.9%	-12.0%	-10.4%	-9.8%	-12.2%	-19.2%	-23.2%	-16.3%	-9.9%	-2.9%	1.4%	-1.5%	-2.4%	0.1%	0.5%	-4.4%	-1.2%	23.9%	21.8%	21.75%
OCF Margin	23.5%	20.0%	18.6%	19.1%	18.1%	15.2%	7.3%	3.3%	10.9%	17.6%	25.5%	28.8%	25.9%	25.9%	27.6%	27.1%	22.6%	24.6%	23.9%	24.2%	24.20%
ROE 3Y Avg	snapshot only																				7.46%
ROE 5Y Avg	snapshot only																				7.06%
ROA 3Y Avg	snapshot only																				2.39%
ROIC 3Y Avg	snapshot only																				3.91%
ROIC Economic	snapshot only																				5.34%
Cash ROA	snapshot only																				5.37%
Cash ROIC	snapshot only																				7.65%
CROIC	snapshot only																				6.87%
NOPAT Margin	snapshot only																				16.89%
Pretax Margin	snapshot only																				12.05%
R&D / Revenue	snapshot only																				0.00%
SGA / Revenue	snapshot only																				0.10%
SBC / Revenue	snapshot only																				0.47%

Valuation

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
P/E Ratio	16.46	14.44	17.06	17.95	17.96	18.03	18.43	20.08	18.21	13.43	14.73	13.39	13.06	14.62	15.51	17.25	16.73	16.05	16.28	16.05	16.576
P/S Ratio	1.76	1.61	1.75	1.82	1.70	1.42	1.67	1.61	1.53	1.27	1.44	1.33	1.32	1.50	1.44	1.66	1.53	1.55	1.60	1.72	1.788
P/B Ratio	1.18	1.10	1.17	1.26	1.24	1.07	1.22	1.19	1.13	0.95	1.01	1.01	1.01	1.16	1.08	1.25	1.15	1.17	1.16	1.22	1.230
P/FCF	-22.32	-14.75	-14.56	-17.51	-17.34	-11.57	-8.72	-6.95	-9.39	-12.82	-48.90	96.04	-88.13	-61.39	2786.96	306.50	-34.44	-133.30	6.70	7.93	7.927
P/OCF	7.47	8.08	9.40	9.53	9.40	9.28	23.02	49.13	14.01	7.22	5.64	4.62	5.09	5.77	5.22	6.13	6.78	6.28	6.70	7.12	7.124
EV/EBITDA	9.78	9.31	10.32	10.95	10.78	10.17	11.40	11.29	10.75	9.48	10.17	9.62	9.39	9.83	9.74	10.13	9.81	9.58	9.94	10.02	10.019
EV/Revenue	3.50	3.32	3.54	3.55	3.34	3.00	3.37	3.30	3.21	2.94	3.15	2.92	2.89	3.06	3.03	3.25	3.11	3.12	3.31	3.48	3.476
EV/EBIT	17.81	16.98	19.48	21.70	21.83	21.35	22.81	22.93	21.61	18.41	19.91	18.11	17.37	18.00	17.86	18.24	17.99	17.36	17.80	17.53	17.533
EV/FCF	-44.40	-30.37	-29.51	-34.21	-34.15	-24.50	-17.60	-14.23	-19.77	-29.65	-107.06	210.84	-193.05	-125.46	5873.96	598.77	-70.01	-268.82	13.86	15.98	15.978
Earnings Yield	6.1%	6.9%	5.9%	5.6%	5.6%	5.5%	5.4%	5.0%	5.5%	7.4%	6.8%	7.5%	7.7%	6.8%	6.4%	5.8%	6.0%	6.2%	6.1%	6.2%	6.23%
FCF Yield	-4.5%	-6.8%	-6.9%	-5.7%	-5.8%	-8.6%	-11.5%	-14.4%	-10.7%	-7.8%	-2.0%	1.0%	-1.1%	-1.6%	0.0%	0.3%	-2.9%	-0.8%	14.9%	12.6%	12.61%
PEG Ratio	snapshot only																				2.155
Price/Tangible Book	snapshot only																				1.244
EV/OCF	snapshot only																				14.359
EV/Gross Profit	snapshot only																				6.198
Acquirers Multiple	snapshot only																				18.355
Shareholder Yield	snapshot only																				0.03%
Graham Number	snapshot only																				$43.03

Leverage & Solvency

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
Current Ratio	0.68	0.68	0.48	0.48	0.48	0.48	0.75	0.75	0.75	0.75	0.85	0.85	0.85	0.85	0.85	0.85	0.85	0.85	0.83	0.83	0.830
Quick Ratio	0.55	0.55	0.38	0.38	0.38	0.38	0.64	0.64	0.64	0.64	0.65	0.65	0.65	0.65	0.60	0.60	0.60	0.60	0.56	0.56	0.562
Debt/Equity	1.18	1.18	1.21	1.21	1.21	1.21	1.25	1.25	1.25	1.25	1.22	1.22	1.22	1.22	1.20	1.20	1.20	1.20	1.25	1.25	1.246
Net Debt/Equity	1.17	1.17	1.20	1.20	1.20	1.20	1.25	1.25	1.25	1.25	1.21	1.21	1.21	1.21	1.19	1.19	1.19	1.19	1.24	1.24	1.239
Debt/Assets	0.37	0.37	0.38	0.38	0.38	0.38	0.39	0.39	0.39	0.39	0.39	0.39	0.39	0.39	0.39	0.39	0.39	0.39	0.39	0.39	0.391
Debt/EBITDA	4.89	4.82	5.27	5.39	5.35	5.41	5.78	5.80	5.67	5.40	5.59	5.30	5.16	5.08	5.17	4.99	5.04	4.88	5.16	5.08	5.077
Net Debt/EBITDA	4.86	4.79	5.23	5.34	5.31	5.37	5.75	5.77	5.65	5.38	5.53	5.24	5.10	5.02	5.12	4.95	4.99	4.83	5.13	5.05	5.048
Interest Coverage	2.65	2.67	2.56	2.35	2.26	2.09	2.20	2.02	1.98	2.06	1.98	2.15	2.24	2.27	2.27	2.39	2.31	2.38	2.47	2.55	2.550
Equity Multiplier	3.15	3.15	3.18	3.18	3.18	3.18	3.18	3.18	3.18	3.18	3.10	3.10	3.10	3.10	3.06	3.06	3.06	3.06	3.19	3.19	3.191
Cash Ratio	snapshot only																				0.022
Debt Service Coverage	snapshot only																				4.463
Cash to Debt	snapshot only																				0.006
FCF to Debt	snapshot only																				0.124
Defensive Interval	snapshot only																				142.5 days

Efficiency & Turnover

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
Asset Turnover	0.22	0.22	0.22	0.22	0.24	0.25	0.24	0.24	0.24	0.24	0.23	0.25	0.25	0.25	0.25	0.25	0.25	0.25	0.24	0.23	0.231
Inventory Turnover	6.36	6.71	6.53	7.22	8.10	8.70	7.65	7.71	7.54	7.55	5.25	6.00	6.02	5.97	4.52	4.31	4.23	4.08	4.16	3.93	3.925
Receivables Turnover	8.26	8.40	7.85	8.11	8.55	8.90	7.46	7.51	7.52	7.60	7.41	7.98	8.07	8.13	9.18	9.22	9.26	9.31	9.24	9.02	9.021
Payables Turnover	3.93	4.15	4.15	4.58	5.14	5.52	4.38	4.42	4.32	4.32	4.06	4.64	4.65	4.62	5.95	5.68	5.57	5.37	6.19	5.85	5.847
DSO	44	43	47	45	43	41	49	49	49	48	49	46	45	45	40	40	39	39	39	40	40.5 days
DIO	57	54	56	51	45	42	48	47	48	48	70	61	61	61	81	85	86	90	88	93	93.0 days
DPO	93	88	88	80	71	66	83	83	85	84	90	79	78	79	61	64	66	68	59	62	62.4 days
Cash Conversion Cycle	9	10	14	16	17	17	13	13	12	12	29	28	27	27	59	60	60	61	68	71	71.0 days
Fixed Asset Turnover	snapshot only																				0.298
Operating Cycle	snapshot only																				133.4 days
Cash Velocity	snapshot only																				100.895
Capital Intensity	snapshot only																				4.509

Growth (YoY)

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
Revenue	3.6%	6.2%	8.9%	10.7%	15.0%	17.6%	18.9%	15.8%	9.9%	6.9%	2.4%	9.5%	10.7%	10.2%	10.6%	3.2%	2.4%	2.2%	1.4%	-1.5%	-1.47%
Net Income	19.7%	27.7%	13.8%	1.2%	1.8%	-17.5%	5.3%	-8.2%	-2.5%	28.8%	10.3%	35.3%	33.5%	19.2%	4.9%	0.2%	-7.4%	-3.8%	7.4%	9.8%	9.78%
EPS	16.3%	24.4%	10.4%	-2.2%	-2.6%	-21.0%	0.7%	-12.3%	-7.0%	23.0%	5.9%	30.2%	29.5%	15.8%	2.4%	-2.5%	-10.0%	-6.5%	5.5%	7.1%	7.05%
FCF	-24.1%	-91.9%	-1.4%	-1.4%	-42.9%	-31.4%	-89.9%	-1.6%	-82.5%	13.4%	84.3%	1.1%	89.8%	72.9%	1.0%	-59.6%	-2.0%	51.3%	468.0%	38.5%	38.48%
EBITDA	10.0%	10.6%	6.9%	-1.1%	-0.3%	-2.9%	2.5%	4.3%	6.0%	12.5%	7.2%	13.6%	14.0%	10.4%	11.1%	9.0%	5.3%	7.0%	8.4%	6.6%	6.56%
Op. Income	12.9%	11.9%	-1.9%	-17.1%	-19.0%	-19.6%	-16.6%	-12.2%	0.8%	12.7%	35.5%	53.4%	44.2%	36.9%	19.0%	17.2%	13.4%	13.1%	15.4%	9.8%	9.79%
OCF Growth	snapshot only																				-12.09%
Asset Growth	snapshot only																				8.85%
Equity Growth	snapshot only																				4.55%
Debt Growth	snapshot only																				8.31%
Shares Change	snapshot only																				2.55%
Dividend Growth	snapshot only																				-99.34%

Growth (CAGR)

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
Revenue 3Y	-1.4%	-0.8%	1.0%	2.4%	4.7%	6.4%	8.3%	8.8%	9.4%	10.1%	9.8%	11.9%	11.8%	11.5%	10.4%	9.3%	7.6%	6.4%	4.7%	3.6%	3.62%
Revenue 5Y	-1.0%	-0.6%	-0.0%	0.4%	1.5%	2.4%	3.4%	4.0%	3.9%	4.2%	4.6%	6.4%	6.9%	7.3%	7.6%	7.8%	8.2%	8.5%	8.2%	7.4%	7.35%
EPS 3Y	7.1%	7.3%	-0.3%	-11.2%	-11.9%	-15.5%	-11.0%	-1.5%	1.8%	6.5%	5.6%	3.7%	5.5%	4.0%	3.0%	3.7%	2.7%	10.0%	4.6%	10.8%	10.79%
EPS 5Y	-0.2%	1.2%	-0.4%	-0.9%	-0.7%	-2.5%	3.1%	2.2%	2.2%	3.7%	1.1%	-4.4%	-3.8%	-3.0%	-5.2%	4.0%	4.2%	5.5%	4.9%	3.1%	3.12%
Net Income 3Y	9.0%	9.5%	2.6%	-8.6%	-9.1%	-12.6%	-7.6%	2.2%	5.9%	10.7%	9.8%	7.9%	9.8%	8.2%	6.8%	7.5%	6.4%	13.9%	7.5%	14.2%	14.16%
Net Income 5Y	1.6%	3.0%	1.7%	1.3%	1.7%	-0.1%	6.0%	5.0%	5.1%	6.9%	4.6%	-1.0%	-0.4%	0.5%	-1.8%	7.7%	8.0%	9.3%	8.3%	6.7%	6.68%
EBITDA 3Y	2.0%	2.3%	3.1%	2.7%	3.4%	3.2%	4.6%	4.6%	5.1%	6.5%	5.5%	5.4%	6.4%	6.4%	6.9%	8.9%	8.4%	9.9%	8.9%	9.7%	9.69%
EBITDA 5Y	2.1%	2.1%	1.3%	0.2%	0.5%	0.4%	1.0%	1.8%	2.3%	3.2%	3.8%	5.1%	6.0%	6.4%	6.4%	7.2%	6.9%	7.4%	7.2%	6.4%	6.36%
Gross Profit 3Y	1.1%	0.9%	1.4%	1.2%	1.7%	2.7%	2.5%	2.6%	3.3%	3.7%	4.3%	4.8%	5.5%	6.2%	6.6%	8.1%	8.2%	8.7%	3.2%	3.1%	3.10%
Gross Profit 5Y	1.7%	1.5%	1.1%	0.7%	1.0%	1.2%	1.1%	1.6%	1.9%	2.2%	3.1%	3.6%	4.0%	4.6%	4.7%	5.5%	5.9%	6.4%	3.0%	2.7%	2.70%
Op. Income 3Y	-1.5%	-2.7%	-4.4%	-3.6%	-2.9%	-2.8%	-3.3%	-6.6%	-2.7%	0.5%	3.5%	3.8%	5.6%	7.5%	10.3%	16.5%	18.1%	20.4%	23.0%	25.4%	25.45%
Op. Income 5Y	-1.9%	-2.5%	-4.7%	-6.9%	-7.2%	-7.1%	-7.7%	-6.9%	-4.8%	-3.5%	-0.3%	3.8%	5.9%	7.2%	7.8%	8.0%	8.6%	9.5%	8.8%	7.5%	7.54%
FCF 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
FCF 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
OCF 3Y	-11.1%	-16.0%	-9.6%	-8.8%	-5.8%	-9.6%	-32.2%	-44.8%	-18.4%	-3.4%	10.5%	16.8%	15.5%	21.5%	25.9%	22.9%	15.9%	24.8%	55.7%	1.0%	1.02%
OCF 5Y	1.4%	-2.7%	-5.7%	-6.7%	-8.0%	-9.6%	-21.3%	-33.8%	-16.3%	-8.1%	4.3%	7.7%	7.8%	8.1%	6.0%	9.4%	5.0%	7.3%	7.2%	6.4%	6.36%
Assets 3Y	5.1%	5.1%	5.8%	5.8%	5.8%	5.8%	6.8%	6.8%	6.8%	6.8%	6.4%	6.4%	6.4%	6.4%	5.0%	5.0%	5.0%	5.0%	5.2%	5.2%	5.23%
Assets 5Y	5.5%	5.5%	5.2%	5.2%	5.2%	5.2%	6.1%	6.1%	6.1%	6.1%	5.9%	5.9%	5.9%	5.9%	5.5%	5.5%	5.5%	5.5%	6.2%	6.2%	6.19%
Equity 3Y	5.5%	5.5%	6.7%	6.7%	6.7%	6.7%	6.4%	6.4%	6.4%	6.4%	7.0%	7.0%	7.0%	7.0%	6.3%	6.3%	6.3%	6.3%	5.1%	5.1%	5.08%
Book Value 3Y	3.6%	3.4%	3.7%	3.7%	3.3%	3.2%	2.6%	2.5%	2.2%	2.3%	2.9%	2.9%	2.8%	2.8%	2.5%	2.5%	2.7%	2.7%	2.2%	2.0%	1.98%
Dividend 3Y	0.6%	0.3%	-0.6%	-0.5%	-0.6%	-0.5%	-0.7%	-0.7%	-1.0%	-0.9%	-0.9%	-1.1%	-1.4%	-1.7%	-1.7%	-1.9%	-1.8%	-1.5%	—	-81.8%	-81.80%

Growth Quality

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
Revenue Stability	0.67	0.39	0.10	0.01	0.06	0.15	0.28	0.44	0.50	0.55	0.67	0.77	0.85	0.89	0.93	0.96	0.98	0.98	0.95	0.87	0.866
Earnings Stability	0.03	0.09	0.09	0.03	0.02	0.01	0.09	0.00	0.00	0.02	0.02	0.00	0.01	0.05	0.01	0.72	0.76	0.75	0.99	0.76	0.759
Margin Stability	0.94	0.95	0.95	0.95	0.94	0.94	0.92	0.92	0.92	0.92	0.92	0.91	0.92	0.93	0.93	0.93	0.93	0.92	0.90	0.90	0.905
Rev. Growth Consistency	0.50	0.50	0.50	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	0.00	0.000
Earn. Growth Consistency	0.50	0.50	0.50	1.00	1.00	0.00	1.00	0.00	0.00	0.50	1.00	0.50	0.50	1.00	1.00	1.00	0.00	0.00	1.00	1.00	1.000
FCF Positive Streak	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1	0	0	1	1	1
Earnings Persistence	0.92	0.89	0.94	1.00	0.99	0.93	0.98	0.97	0.99	0.88	0.96	0.86	0.87	0.92	0.98	1.00	0.97	0.98	0.97	0.96	0.961
Earnings Smoothness	0.82	0.76	0.87	0.99	0.98	0.81	0.95	0.91	0.97	0.75	0.90	0.70	0.71	0.83	0.95	1.00	0.92	0.96	0.93	0.91	0.907
ROE Trend	-0.02	-0.01	-0.01	-0.00	0.00	-0.01	0.00	-0.01	-0.01	0.00	0.00	0.01	0.01	0.01	0.00	0.01	-0.00	-0.00	0.00	0.00	0.002
Gross Margin Trend	0.01	-0.01	-0.03	-0.06	-0.08	-0.09	-0.11	-0.10	-0.07	-0.05	-0.01	-0.03	-0.02	-0.00	0.00	0.04	0.04	0.05	-0.05	-0.03	-0.031
FCF Margin Trend	-0.01	-0.04	-0.08	-0.04	-0.03	-0.04	-0.10	-0.16	-0.07	0.02	0.13	0.18	0.12	0.09	0.11	0.11	0.04	0.05	0.25	0.21	0.208
Sustainable Growth Rate	1.6%	2.0%	1.4%	1.4%	1.2%	0.1%	1.2%	0.3%	0.4%	1.2%	1.3%	1.8%	1.9%	2.0%	1.2%	1.4%	1.0%	1.3%	7.3%	7.7%	7.74%
Internal Growth Rate	0.5%	0.6%	0.4%	0.5%	0.4%	0.0%	0.4%	0.1%	0.1%	0.4%	0.4%	0.6%	0.6%	0.7%	0.4%	0.5%	0.3%	0.4%	2.4%	2.5%	2.53%

Cash Flow Quality

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
OCF/Net Income	2.20	1.79	1.81	1.88	1.91	1.94	0.80	0.41	1.30	1.86	2.61	2.90	2.56	2.53	2.97	2.81	2.47	2.56	2.43	2.25	2.252
FCF/OCF	-0.33	-0.55	-0.65	-0.54	-0.54	-0.80	-2.64	-7.06	-1.49	-0.56	-0.12	0.05	-0.06	-0.09	0.00	0.02	-0.20	-0.05	1.00	0.90	0.899
FCF/Net Income	snapshot only																				2.024
OCF/EBITDA	snapshot only																				0.698
CapEx/Revenue	31.4%	30.9%	30.6%	29.5%	27.8%	27.5%	26.4%	26.5%	27.1%	27.5%	28.5%	27.4%	27.4%	28.3%	27.5%	26.6%	27.0%	25.8%	0.0%	2.5%	2.45%
CapEx/Depreciation	snapshot only																				0.165
Accruals Ratio	-0.03	-0.02	-0.02	-0.02	-0.02	-0.02	0.00	0.01	-0.01	-0.02	-0.04	-0.05	-0.04	-0.04	-0.05	-0.04	-0.03	-0.04	-0.03	-0.03	-0.031
Sloan Accruals	snapshot only																				-0.038
Cash Flow Adequacy	snapshot only																				9.667
Earnings Quality Score	snapshot only																				1.000

Dividends & Buybacks

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
Dividend Yield	4.8%	5.2%	4.7%	4.5%	4.6%	5.5%	4.5%	4.8%	5.1%	6.2%	5.6%	5.7%	5.8%	5.1%	5.4%	4.7%	5.1%	5.2%	0.0%	0.0%	4.74%
Dividend/Share	$1.64	$1.66	$1.65	$1.68	$1.70	$1.72	$1.72	$1.76	$1.77	$1.80	$1.80	$1.84	$1.86	$1.87	$1.87	$1.89	$1.90	$1.93	$0.00	$0.01	$1.97
Payout Ratio	78.4%	74.9%	80.2%	80.0%	83.4%	98.6%	83.2%	95.4%	93.4%	83.6%	82.3%	76.8%	75.7%	75.1%	83.2%	80.8%	85.9%	82.7%	0.0%	0.5%	0.49%
FCF Payout Ratio	—	—	—	—	—	—	—	—	—	—	—	5.5%	—	—	149.5%	14.3%	—	—	0.0%	0.2%	0.24%
Total Payout Ratio	78.4%	74.9%	80.2%	80.0%	83.4%	98.6%	83.2%	95.4%	93.4%	83.6%	82.3%	76.8%	75.7%	75.1%	83.2%	80.8%	85.9%	82.7%	0.0%	0.5%	0.49%
Div. Increase Streak	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	—	0	0
Chowder Number	0.12	0.12	0.12	0.12	0.13	0.14	0.14	0.14	0.14	0.15	0.15	0.15	0.14	0.12	0.11	0.10	0.10	0.11	—	-0.99	-0.993
Buyback Yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.00%
Net Buyback Yield	-2.7%	-3.6%	-3.6%	-4.7%	-5.1%	-5.3%	-4.8%	-4.7%	-5.2%	-6.0%	-4.5%	-3.3%	-2.8%	-2.1%	-2.4%	-2.6%	-2.9%	-2.5%	0.0%	-0.1%	-0.06%
Total Shareholder Return	2.1%	1.6%	1.1%	-0.3%	-0.4%	0.2%	-0.3%	0.1%	-0.1%	0.2%	1.1%	2.5%	3.0%	3.0%	2.9%	2.1%	2.3%	2.6%	0.0%	-0.0%	-0.03%

DuPont Factors

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
Tax Burden (NI/EBT)	0.87	0.91	0.92	1.08	1.11	1.07	1.12	1.10	1.14	1.15	1.24	1.15	1.10	1.08	0.98	0.93	0.93	0.92	0.89	0.89	0.892
Interest Burden (EBT/EBIT)	0.62	0.63	0.61	0.57	0.56	0.52	0.55	0.51	0.49	0.51	0.50	0.53	0.55	0.56	0.56	0.58	0.57	0.58	0.59	0.61	0.608
EBIT Margin	0.20	0.20	0.18	0.16	0.15	0.14	0.15	0.14	0.15	0.16	0.16	0.16	0.17	0.17	0.17	0.18	0.17	0.18	0.19	0.20	0.198
Asset Turnover	0.22	0.22	0.22	0.22	0.24	0.25	0.24	0.24	0.24	0.24	0.23	0.25	0.25	0.25	0.25	0.25	0.25	0.25	0.24	0.23	0.231
Equity Multiplier	3.15	3.15	3.17	3.17	3.17	3.17	3.18	3.18	3.18	3.18	3.14	3.14	3.14	3.14	3.08	3.08	3.08	3.08	3.13	3.13	3.129

Per Share

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
EPS (Diluted TTM)	$2.10	$2.21	$2.06	$2.10	$2.04	$1.75	$2.07	$1.84	$1.90	$2.15	$2.19	$2.40	$2.46	$2.49	$2.24	$2.34	$2.21	$2.33	$2.37	$2.50	$2.50
Book Value/Share	$29.19	$28.94	$30.07	$29.96	$29.66	$29.40	$31.15	$31.02	$30.67	$30.41	$31.83	$31.77	$31.67	$31.47	$32.37	$32.26	$32.08	$31.88	$33.24	$32.89	$33.71
Tangible Book/Share	$28.44	$28.20	$29.22	$29.11	$28.82	$28.57	$30.21	$30.08	$29.74	$29.50	$30.92	$30.87	$30.77	$30.57	$31.50	$31.39	$31.21	$31.02	$32.60	$32.26	$32.26
Revenue/Share	$19.62	$19.79	$20.08	$20.69	$21.59	$22.26	$22.82	$22.89	$22.65	$22.72	$22.43	$24.11	$24.32	$24.34	$24.21	$24.23	$24.20	$24.16	$24.10	$23.28	$23.28
FCF/Share	$-1.55	$-2.17	$-2.41	$-2.15	$-2.11	$-2.72	$-4.37	$-5.31	$-3.68	$-2.25	$-0.66	$0.33	$-0.36	$-0.59	$0.01	$0.13	$-1.07	$-0.28	$5.75	$5.06	$5.06
OCF/Share	$4.62	$3.96	$3.73	$3.95	$3.90	$3.39	$1.66	$0.75	$2.47	$4.00	$5.73	$6.94	$6.30	$6.30	$6.67	$6.57	$5.46	$5.95	$5.75	$5.63	$5.64
Cash/Share	$0.20	$0.20	$0.31	$0.31	$0.31	$0.30	$0.18	$0.18	$0.18	$0.17	$0.45	$0.45	$0.45	$0.44	$0.37	$0.37	$0.37	$0.37	$0.23	$0.23	$0.22
EBITDA/Share	$7.02	$7.06	$6.89	$6.72	$6.69	$6.56	$6.75	$6.69	$6.77	$7.05	$6.95	$7.32	$7.49	$7.56	$7.53	$7.77	$7.66	$7.86	$8.02	$8.07	$8.07
Debt/Share	$34.33	$34.03	$36.33	$36.19	$35.83	$35.51	$39.01	$38.84	$38.40	$38.08	$38.86	$38.79	$38.67	$38.42	$38.94	$38.81	$38.59	$38.35	$41.42	$40.99	$40.99
Net Debt/Share	$34.12	$33.83	$36.02	$35.88	$35.52	$35.21	$38.83	$38.66	$38.22	$37.91	$38.41	$38.34	$38.23	$37.98	$38.57	$38.44	$38.22	$37.98	$41.19	$40.76	$40.76

Academic Models

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
Altman Z-Score	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	0.827
Altman Z-Prime	snapshot only																				1.108
Piotroski F-Score	7	7	6	5	5	5	6	5	7	8	8	7	8	8	7	6	6	6	5	6	6
Beneish M-Score	-2.35	-2.31	-2.37	-2.37	-2.31	-2.36	-2.16	-2.21	-2.32	-2.37	-2.80	-2.65	-2.77	-2.79	-2.59	-2.79	-2.71	-2.76	-1.63	-2.47	-2.466
Ohlson O-Score	snapshot only																				-6.600
ROIC (Greenblatt)	snapshot only																				6.06%
Net-Net WC	snapshot only																				$-63.21
EVA	snapshot only																				$-282885714.29

Credit

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
Credit Rating	snapshot only																				BB-
Credit Score	28.79	28.55	26.31	25.94	25.78	24.10	26.58	26.72	22.16	25.71	23.58	31.74	30.04	30.10	32.24	33.60	29.27	30.51	34.31	35.42	35.421
Credit Grade	snapshot only																				13
Credit Trend	snapshot only																				1.826
Implied Spread (bps)	snapshot only																				550.000
Industry Credit Rank	snapshot only																				43
Sector Credit Rank	snapshot only																				37

AVA NYSE

Edge Score

Analyst Insights

Financial Rating

InsiderStreet Scorecard

Risk & Quality Signals

Valuation

DuPont Decomposition (5-Factor)

Graham-Dodd Adjusted Valuation

Profitability Trends

Leverage & Solvency Trends

Efficiency & Working Capital Trends

Growth Trends (YoY %)

Earnings Stability

Monte Carlo Price Simulation

Executive Compensation

C-Suite Compensation

CEO Pay Ratio

C-Suite Pay Equality (Gini)

CEO Compensation Mix

Workforce & Productivity

Scaling Efficiency

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