Discounted Cash Flow

Avista Corp.

AVA · Based on 10 years of SEC filings · Converted from CAD to USD

⚠ Cash flow predictability 38/100 (unstable) — FCF YoY std dev 86%, net income 20% (full history)

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income
Dividends

Average annual growth is the mean year-over-year change across each period.

Endpoint CAGR (better for long term trend)

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Endpoint CAGR is the compound annual rate from the first to last year in each period.

Projections use average year-over-year growth. Change this in Settings.

Projected growth rate

Free cash flow growth
10-year: — 5-year: — 3-year: —
Averaged growth (FCF & NI)
10-year: — 5-year: — 3-year: —
Net income growth
10-year: — 5-year: — 3-year: —
Sales growth (not added to calculations)
10-year: — 5-year: — 3-year: —

Click a greyed-out slider to switch metrics. Slide between the 10-year, 5-year, and 3-year historic growth rates for FCF, net income, or their average.

%
%

Historical inputs (10 fiscal years)

YEAR Sales Net Income Free Cash Flow Net Margin EPS (diluted)
2016 $1.0b $99.3m $-35.0m 9.5% $2.16
2017 $1.0b (0.2%) $83.9m (-15.5%) $-1.5m (95.8%) 8.0% (-15.7%) $1.80 (-16.7%)
2018 $1.0b (-3.4%) $98.7m (17.7%) $-45.2m (-2960.5%) 9.8% (21.8%) $2.08 (15.6%)
2019 $973.9m (-3.7%) $142.6m (44.4%) $-32.1m (29.1%) 14.6% (49.9%) $2.98 (43.3%)
2020 $956.8m (-1.8%) $93.7m (-34.3%) $-53.1m (-65.5%) 9.8% (-33.1%) $1.91 (-35.9%)
2021 $1.0b (8.9%) $106.6m (13.8%) $-124.9m (-135.5%) 10.2% (4.5%) $2.11 (10.5%)
2022 $1.2b (18.9%) $112.3m (5.3%) $-237.2m (-89.9%) 9.1% (-11.4%) $2.13 (0.9%)
2023 $1.3b (2.4%) $123.9m (10.3%) $-37.3m (84.3%) 9.8% (7.7%) $2.24 (5.2%)
2024 $1.4b (10.6%) $130.3m (5.2%) $723.8k (101.9%) 9.3% (-5.0%) $2.29 (2.2%)
2025 $1.4b (1.3%) $139.7m (7.2%) $-73.1m (-10200.0%) 9.8% (5.8%) $2.38 (3.9%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

SEC filings report in CAD. Values above are converted to USD for comparison with the US-listed share price.

Projected cash flows

Year Projected cash flow Discount Factor Present Value

PV of projected FCF:

Terminal FCF:

Terminal value:

PV of terminal value:

Enterprise value (DCF):

DCF price per share:

Current price:

Alternative DCF Models

Model Fair Value Upside PV(FCFs) PV(Terminal) Total Years
Standard (10yr→TV) 10 + TV
Alt A (Gradual Decline)
Alt B (30yr Hard Stop) N/A

This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.

+ 10YR Financials Balance Sheet (10YR) Cash Flow (10YR) DCF Model