AVA on NYSE

Avista

Logo: Unknown author Unknown author, Public domain, via Wikimedia Commons⁴

American energy company

Avista Corporation is an American energy company which generates and transmits electricity and distributes natural gas to residential, commercial, and industrial customers. Approximately 1,550 employees provide electricity, natural gas, and other energy services to 422,000 electric and 383,000 natural gas customers in three western states.³ From Wikipedia, CC BY-SA 4.0

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Last updated Oct 16, 2026.

Overview

1889Founded¹

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TickerAVA on NYSE¹
Industryenergy industry¹
HeadquartersSpokane¹
Websitewww.myavista.com
Incorporated inWA⁵
Business address1411 E Mission Ave, Spokane, Wa 99202⁵
Filer categoryLarge accelerated filer⁵

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

18.0%Operating margin⁸

9.8%Net margin⁸

1.3%Revenue growth, 2025⁸

7.1%Return on equity⁸

-$101.0MFree cash flow⁸

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Business segments

Avista Utilities brought in 97% of the revenue Avista broke down this way in fiscal 2025.

Avista Utilities$1.6B⁸97%up 4% from 2024
Alaska Electric Light Power$47.0M⁸3%down 4% from 2024

Business segments by year

Business segments	2023	2024	2025
Avista Utilities	$1.5B	$1.6B	$1.6B
Alaska Electric Light Power	$47.0M	$49.0M	$47.0M

Where the money goes

Where each dollar of revenue went, fiscal 2025

Other costs

Other costs89¢$1.7B
Income tax1¢$24.0M
Profit10¢$193.0M

Out of $2.0B in revenue.⁸

Where each dollar of operating cash went, fiscal 2025

Capital spendingDividends paid

Capital spending78¢$570.0M
Dividends paid22¢$159.0M

Out of $469.0M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.⁸

Financial statements

Revenue⁹¹⁰¹¹¹²⁸$2.0B in 2025+46% since 2019

Operating income⁹¹⁰¹¹¹²⁸$354.0M in 2025+68% since 2019

Net income⁹¹⁰¹¹¹²⁸$193.0M in 2025−2% since 2019

Every line of the income statement in the latest annual report, as filed.⁸

Period ending	2025-12-31	2024-12-31	2023-12-31
Utility revenues, exclusive of alternative revenue programs	$1.9B	$1.9B	$1.7B
Alternative revenue programs	$23.0M	$35.0M	$5.0M
Total utility revenues	$2.0B	$1.9B	$1.8B
Non-utility revenues	$1.0M	$1.0M	$1.0M
Total operating revenues	$2.0B	$1.9B	$1.8B
Resource costs	$691.0M	$798.0M	$702.0M
Other operating expenses	$504.0M	$442.0M	$414.0M
Depreciation and amortization	$289.0M	$274.0M	$265.0M
Taxes other than income taxes	$121.0M	$116.0M	$110.0M
Non-utility operating expenses	$5.0M	$2.0M	$3.0M
Total operating expenses	$1.6B	$1.6B	$1.5B
Income from operations	$354.0M	$306.0M	$258.0M
Interest expense	$152.0M	$147.0M	$141.0M
Interest expense to affiliated trusts	$2.0M	$3.0M	$3.0M
Capitalized interest	-$6.0M	-$5.0M	-$4.0M
Other income-net	-$11.0M	-$22.0M	-$19.0M
Income before income taxes	$217.0M	$183.0M	$137.0M
Income tax expense (benefit)	$24.0M	$3.0M	-$34.0M
Net income	$193.0M	$180.0M	$171.0M
Weighted-average common shares outstanding (thousands), basic	81.0M shares	78.7M shares	76.4M shares
Weighted-average common shares outstanding (thousands), diluted	81.1M shares	78.8M shares	76.5M shares
Basic	$2.38	$2.29	$2.24
Diluted	$2.38	$2.29	$2.24

Total assets⁹¹⁰¹¹¹²⁸$8.4B in 2025+37% since 2019

Total liabilities¹⁶⁹¹⁰¹¹¹²⁸$5.7B in 2025+36% since 2019

Shareholders’ equity⁹¹⁰¹¹¹²⁸$2.7B in 2025+40% since 2019

Cash¹⁶⁹¹⁰¹¹¹²⁸$19.0M in 2025+92% since 2019

Long-term debt¹⁶⁹¹⁰$2.3B in 2022+24% since 2019

Every line of the balance sheet in the latest annual report, as filed.⁸

Period ending	2025-12-31	2024-12-31	2023-12-31
Cash and cash equivalents	$19.0M	$30.0M
Accounts and notes receivable, net	$220.0M	$205.0M
Inventory	$236.0M	$193.0M
Regulatory assets	$135.0M	$137.0M
Other current assets	$119.0M	$91.0M
Total current assets	$729.0M	$656.0M
Net utility property	$6.3B	$6.0B
Goodwill	$52.0M	$52.0M
Non-current regulatory assets	$871.0M	$847.0M
Other property and investments-net and other non-current assets	$388.0M	$399.0M
Total assets	$8.4B	$7.9B	$7.7B
Accounts payable	$163.0M	$125.0M
Short-term borrowings	$388.0M	$354.0M
Regulatory liabilities	$126.0M	$108.0M
Other current liabilities	$201.0M	$184.0M
Total current liabilities	$878.0M	$771.0M
Pensions and other postretirement benefits	$65.0M	$75.0M
Deferred income taxes	$778.0M	$751.0M
Non-current regulatory liabilities	$818.0M	$834.0M
Other non-current liabilities and deferred credits	$305.0M	$253.0M
Total liabilities	$5.7B	$5.3B
Common stock, no par value; 200,000 shares authorized; 82,193 and 80,039 shares issued and outstanding, respectively (shares in thousands)	$1.8B	$1.7B
Accumulated other comprehensive loss	-$1.0M
Retained earnings	$905.0M	$871.0M
Total equity	$2.7B	$2.6B	$2.5B
Total liabilities and equity	$8.4B	$7.9B
Common stock, par value	$0	$0
Common stock, shares authorized	200.0M shares	200.0M shares
Common stock, shares, issued	82.2M shares	80.0M shares
Common stock, shares outstanding	82.2M shares	80.0M shares

Cash from operations⁹¹⁰¹¹¹²⁸$469.0M in 2025+18% since 2019

Capital spending⁹¹⁰¹¹¹²⁸$570.0M in 2025+29% since 2019

Free cash flow⁹¹⁰¹¹¹²⁸-$101.0M in 2025+128% since 2019

Dividends paid⁹¹⁰¹¹¹²⁸$159.0M in 2025+55% since 2019

Every line of the cash flow in the latest annual report, as filed.⁸

Period ending	2025-12-31	2024-12-31	2023-12-31
Net income	$193.0M	$180.0M	$171.0M
Depreciation and amortization	$289.0M	$274.0M	$265.0M
Benefit from (provision for) deferred income taxes	$2.0M	-$5.0M	-$37.0M
Power and natural gas cost (deferrals) amortizations, net	-$54.0M	$104.0M	$7.0M
Amortization of debt expense	$2.0M	$2.0M	$3.0M
Stock-based compensation expense	$9.0M	$9.0M	$8.0M
Equity-related AFUDC	-$11.0M	-$9.0M	-$7.0M
Pension and other postretirement benefit expense	$15.0M	$12.0M	$14.0M
Other regulatory assets and liabilities	$33.0M	-$28.0M	-$34.0M
Other non-current assets and liabilities	$58.0M	$36.0M	$26.0M
Change in decoupling regulatory deferral	-$24.0M	-$35.0M	-$3.0M
Realized and unrealized losses on assets and investments	$13.0M	$5.0M	$3.0M
Other	-$4.0M	-$4.0M	-$6.0M
Contributions to defined benefit pension plan	-$10.0M	-$10.0M	-$10.0M
Cash received on settlement of interest rate swap agreements	$1.0M	$4.0M	$8.0M
Accounts and notes receivable	-$24.0M	$3.0M	$37.0M
Inventory	-$43.0M	-$40.0M	-$52.0M
Collateral posted for derivative instruments	$12.0M	$18.0M	$129.0M
Income taxes receivable	-$5.0M	-$3.0M	$2.0M
Other current assets	-$23.0M	$16.0M	-$26.0M
Accounts payable	$25.0M	-$8.0M	-$66.0M
Other current liabilities	$15.0M	$13.0M	$15.0M
Net cash provided by operating activities	$469.0M	$534.0M	$447.0M
Utility property capital expenditures (excluding equity-related AFUDC)	-$570.0M	-$533.0M	-$499.0M
Issuance of notes receivable	$0	$0	-$3.0M
Repayments from notes receivable	$6.0M	$0	$0
Equity and property investments	-$4.0M	-$10.0M	-$13.0M
Proceeds from sale of investments	$0	$0	$3.0M
Other	$4.0M	$4.0M	$2.0M
Net cash used in investing activities	-$564.0M	-$539.0M	-$510.0M
Net increase (decrease) in short-term borrowings	$33.0M	$5.0M	-$114.0M
Proceeds from issuance of long-term debt	$140.0M	$84.0M	$250.0M
Maturity of long-term debt and finance leases	-$4.0M	-$3.0M	-$17.0M
Issuance of common stock, net of issuance costs	$78.0M	$68.0M	$113.0M
Cash dividends paid	-$159.0M	-$150.0M	-$141.0M
Other	-$4.0M	-$4.0M	-$6.0M
Net cash provided by financing activities	$84.0M	$0	$85.0M
Net (decrease) increase in cash and cash equivalents	-$11.0M	-$5.0M	$22.0M
Cash paid during the year for interest	$144.0M	$141.0M	$132.0M
Accounts payable for capital expenditures	$36.0M	$24.0M	$34.0M

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The story

Washington Water Power was incorporated in March 1889 with the aim of generating hydroelectric power from the Spokane River. Earlier in 1889, F. Rockwood Moore, then affiliated with the Edison Electric Illuminating Company, purchased property on both sides of the Spokane River with the intent of developing a power plant for the company. Because of skepticism as to the reliability of hydro power from Eastern investors, and high royalties from Edison Electric, local businessmen including Mr. Moore incorporated the company, sought investors for the new company to build the project.

In the 1890s through the 1930s, Washington Water Power bought up streetcar companies in the city of Spokane and had cornered the transportation market by 1900. Despite seeing a peak in 1910, ridership declined through the 1930s and Washington Water Power's final streetcar line closed in 1936. The company would never again seek to enter the public transportation market.

In 1892 Washington Water Power purchased a park called Twickenham Park on the banks of the Spokane River. The company renamed the attraction Natatorium Park and expanded it with a large swimming pool in 1895 and it became an all-purpose recreation site for the city. Washington Water Power eventually sold the park in 1929.

Washington Water Power expanded in Oregon and into California by acquiring the natural gas operations of CP National from Alltel in 1989. The California operations were sold to Southwest Gas in 2005.

In 2014, Avista acquired Alaska Electric Light & Power, the electric utility for Juneau in an all stock transaction worth $170 million.

Avista supports adoption of electric vehicles. In 2016, Avista proposed a two-year pilot program that would install 265 charging stations for electric cars in the eastern part of Washington state. The program was estimated to cost around $3.1 million. It would install fast electric vehicle charging stations in 120 homes, 100 workplaces, and 45 public areas.

In 2017, Ontario-based electrical utility Hydro One agreed to purchase Avista.

In December 2018, The Washington Utilities and Transportation Commission rejected the proposed takeover by Hydro-One, saying the Ontario government (its largest shareholder) led by recently elected premier Doug Ford, had interfered politically in Hydro One's business affairs, most glaringly ordering the removal of CEO Mayo Schmidt, who he dubbed "the Six Million Dollar Man" during the election, and vowing to fire him if elected.

From Wikipedia’s article on Avista, shared under CC BY-SA 4.0.⁶

Products and brands

electricity

Listed on Wikidata.¹

Subsidiaries and ownership

Subsidiaries

Alaska Electric Light & Power

From Wikidata.¹

Former names

WASHINGTON WATER POWER COMay 16, 1994 to Dec 10, 1998⁵

Controversies and legal

Lawsuits

On September 27, 2002, Avista was sued for issuing false and misleading statements concerning its business and financial condition, including failing to disclose that Avista was engaged in highly risky energy trading activities with Enron and Portland General Electric. On December 20, 2007, Avista agreed to a $9.5 million settlement.