Avanos Medical, Inc. (AVNS) 10-Year Financial Performance & Capital Metrics

AVNS • • Industrial / General

HealthcareMedical DevicesRespiratory & Pulmonary DevicesAirway & Pulmonary Therapy

AboutAvanos Medical, Inc., a medical technology company, focuses on delivering medical device solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. It offers a portfolio of chronic care products that include digestive health products, such as Mic-Key enteral feeding tubes, Corpak patient feeding solutions, and NeoMed neonatal and pediatric feeding solutions; and respiratory health products, such as closed airway suction systems and other airway management devices under the Ballard, Microcuff, and Endoclear brands. The company also provides a portfolio of non-opioid pain solutions, including acute pain products, such as On-Q and ambIT surgical pain pumps, Game Ready cold, and compression therapy systems; and interventional pain solutions, which offers minimally invasive pain-relieving therapies, such as Coolief pain relief therapy. It markets its products directly to hospitals and other healthcare providers, healthcare facilities, and other end-user customers, as well as through third-party wholesale distributors. The company was formerly known as Halyard Health, Inc. and changed its name to Avanos Medical, Inc. in June 2018. Avanos Medical, Inc. was incorporated in 2014 and is headquartered in Alpharetta, Georgia.Show more

Revenue $688M +2.2%
EBITDA $86M -21.2%
Net Income -$392M -534.5%
EPS (Diluted) -8.53 -541.4%
Gross Margin 55.44% -1.7%
EBITDA Margin 12.43% -22.9%
Operating Margin 5.82% -39.8%
Net Margin -57.01% -521.1%
ROE -37.98% -676.6%
ROIC 2.67% -23.4%
Debt/Equity 0.21 +21.5%
Interest Coverage 3.28 -24.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Trading at only 0.7x book value

✗Weaknesses

✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-8.5%

5Y-0.28%

3Y-2.61%

TTM2.7%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-3086.62%

EPS CAGR

10Y-

5Y-

3Y-

TTM-3079.59%

ROCE

10Y Avg2.55%

5Y Avg4.14%

3Y Avg3.42%

Latest3.27%

Peer Comparison

Airway & Pulmonary Therapy

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
ELMDElectromed, Inc.	239.29M	28.69	33.36	16.97%	12.38%	18.32%	4.63%	0.00
XAIRBeyond Air, Inc.	7.02M	0.88	-0.06	219.67%	-6.32%	-280.24%		0.82
LUNGPulmonx Corporation	82.08M	1.99	-1.38	22.01%	-61.91%	-94.54%		0.66
AVNSAvanos Medical, Inc.	555.63M	11.97	-1.40	2.15%	-67%	-60.27%	14.92%	0.21
INGNInogen, Inc.	168.59M	6.21	-4.09	6.35%	-7.31%	-12.87%		0.11
QIPTQuipt Home Medical Corp.	156.3M	3.55	-14.79	-0.23%	-4.11%	-10.06%	16.21%	0.16
IINNInspira Technologies Oxy B.H.N. Ltd.	34.51M	0.96	-1600			-190.28%		0.58

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	1.57B	566.2M	611.6M	652.3M	697.6M	714.8M	744.6M	684.1M	673.3M	687.8M
Revenue Growth %	-0.06%	-0.64%	0.08%	0.07%	0.07%	0.02%	0.04%	-0.08%	-0.02%	0.02%
Cost of Goods Sold+	1.04B	269M	274.7M	261.4M	295.4M	324.2M	364.7M	289.9M	293.6M	306.5M
COGS % of Revenue	0.66%	0.48%	0.45%	0.4%	0.42%	0.45%	0.49%	0.42%	0.44%	0.45%
Gross Profit+	531.6M	297.2M	336.9M	390.9M	402.2M	390.6M	379.9M	394.2M	379.7M	381.3M
Gross Margin %	0.34%	0.52%	0.55%	0.6%	0.58%	0.55%	0.51%	0.58%	0.56%	0.55%
Gross Profit Growth %	-0.13%	-0.44%	0.13%	0.16%	0.03%	-0.03%	-0.03%	0.04%	-0.04%	0%
Operating Expenses+	376.8M	366.6M	352.9M	356M	407.6M	319.7M	293.1M	352.3M	314.7M	341.3M
OpEx % of Revenue	0.24%	0.65%	0.58%	0.55%	0.58%	0.45%	0.39%	0.51%	0.47%	0.5%
Selling, General & Admin	344.5M	328.2M	314.7M	314.2M	369.9M	284.8M	260.8M	323.1M	287.5M	315.1M
SG&A % of Revenue	0.22%	0.58%	0.51%	0.48%	0.53%	0.4%	0.35%	0.47%	0.43%	0.46%
Research & Development	32.3M	38.4M	38.2M	41.8M	37.7M	34.9M	32.3M	30.6M	27.2M	26.2M
R&D % of Revenue	0.02%	0.07%	0.06%	0.06%	0.05%	0.05%	0.04%	0.04%	0.04%	0.04%
Other Operating Expenses	0	0	0	0	0	0	0	0	0	0
Operating Income+	154.8M	-69.4M	-16M	34.9M	-5.4M	70.9M	86.8M	41.9M	65M	40M
Operating Margin %	0.1%	-0.12%	-0.03%	0.05%	-0.01%	0.1%	0.12%	0.06%	0.1%	0.06%
Operating Income Growth %	-0.5%	-1.45%	0.77%	3.18%	-1.15%	14.13%	0.22%	-0.52%	0.55%	-0.38%
EBITDA+	220.8M	-28.4M	24M	68.4M	31.5M	113.8M	125.1M	83M	108.5M	85.5M
EBITDA Margin %	0.14%	-0.05%	0.04%	0.1%	0.05%	0.16%	0.17%	0.12%	0.16%	0.12%
EBITDA Growth %	-0.44%	-1.13%	1.85%	1.85%	-0.54%	2.61%	0.1%	-0.34%	0.31%	-0.21%
D&A (Non-Cash Add-back)	66M	41M	40M	33.5M	36.9M	42.9M	38.3M	41.1M	43.5M	45.5M
EBIT	-377.4M	-106.5M	-40.6M	3.5M	-49M	-44.9M	10.6M	36.7M	7.1M	-391.1M
Net Interest Income+	-32.8M	-32.1M	-29.1M	-18.6M	-8.3M	-14.4M	-3.1M	-8.8M	-12.1M	-7.1M
Interest Income	300K	600K	2.5M	7.8M	6.7M	1.2M	200K	1.2M	2.9M	5.1M
Interest Expense	33.1M	32.7M	31.6M	26.4M	15M	15.6M	3.3M	10M	15M	12.2M
Other Income/Expense	-565.3M	-69.8M	-56.2M	-53M	-58.6M	-131.4M	-79.5M	-15.2M	-72.9M	-443.3M
Pretax Income+	-410.5M	-139.2M	-72.2M	-18.1M	-64M	-60.5M	7.3M	26.7M	-7.9M	-403.3M
Pretax Margin %	-0.26%	-0.25%	-0.12%	-0.03%	-0.09%	-0.08%	0.01%	0.04%	-0.01%	-0.59%
Income Tax+	15.8M	-55.9M	-40.1M	-9.6M	-18.1M	-33.3M	1M	5.2M	2M	-17M
Effective Tax Rate %	1.04%	-0.29%	-1.1%	-3.18%	0.72%	0.45%	0.86%	1.89%	7.82%	0.97%
Net Income+	-426.3M	39.8M	79.3M	57.5M	-45.9M	-27.2M	6.3M	50.5M	-61.8M	-392.1M
Net Margin %	-0.27%	0.07%	0.13%	0.09%	-0.07%	-0.04%	0.01%	0.07%	-0.09%	-0.57%
Net Income Growth %	-16.73%	1.09%	0.99%	-0.27%	-1.8%	0.41%	1.23%	7.02%	-2.22%	-5.34%
Net Income (Continuing)	-426.3M	-83.3M	-32.1M	-8.5M	-45.9M	-27.2M	6.3M	21.5M	-9.9M	-386.3M
Discontinued Operations	0	123.1M	111.4M	66M	0	0	0	29M	-51.9M	-5.8M
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-9.15	0.85	1.69	1.22	-0.96	-0.57	0.13	1.07	-1.33	-8.53
EPS Growth %	-16.78%	1.09%	0.99%	-0.28%	-1.79%	0.41%	1.23%	7.23%	-2.24%	-5.41%
EPS (Basic)	-9.15	0.85	1.69	1.22	-0.96	-0.57	0.13	1.08	-1.33	-8.53
Diluted Shares Outstanding	46.59M	47M	46.8M	47.2M	47.6M	47.8M	48.6M	47.3M	46.6M	46M
Basic Shares Outstanding	46.59M	46.6M	46.52M	47.2M	47.6M	47.8M	48.1M	46.9M	46.6M	46M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	676M	593.5M	1.16B	713.6M	538.5M	467.2M	427.6M	624.1M	487M	393.4M
Cash & Short-Term Investments	129.5M	113.7M	219.7M	384.5M	205.3M	111.5M	118.5M	127.7M	87.7M	107.7M
Cash Only	129.5M	113.7M	219.7M	384.5M	205.3M	111.5M	118.5M	127.7M	87.7M	107.7M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	224.7M	188.5M	203M	150.5M	163.8M	167.9M	131.2M	167.9M	142.8M	132.8M
Days Sales Outstanding	52.09	121.52	121.15	84.21	85.7	85.74	64.31	89.58	77.41	70.47
Inventory	303.2M	272.5M	91.1M	121.4M	145.9M	168.9M	159.3M	132.3M	163.2M	138.8M
Days Inventory Outstanding	106.13	369.75	121.05	169.51	180.28	190.16	159.43	166.57	202.89	165.29
Other Current Assets	0	194M	632.5M	57.2M	0	0	0	196.2M	93.3M	14.1M
Total Non-Current Assets+	1.32B	1.48B	1.04B	1.12B	1.26B	1.21B	1.18B	1.16B	1.21B	760.8M
Property, Plant & Equipment	279.5M	260.8M	109.9M	154.1M	248.5M	223.6M	206.7M	146.1M	144M	144.8M
Fixed Asset Turnover	5.63x	2.17x	5.57x	4.23x	2.81x	3.20x	3.60x	4.68x	4.68x	4.75x
Goodwill	945.2M	1.03B	764.7M	783.6M	800.9M	802.5M	801.6M	760.3M	796.1M	455.6M
Intangible Assets	82.6M	169.8M	148.9M	168.2M	184.3M	157.7M	141.2M	234.2M	239.5M	112.3M
Long-Term Investments	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	2M	3.6M	4.1M	7.6M	11.3M	11.8M	16.5M	17.6M	19.3M	23.2M
Total Assets+	2B	2.07B	2.2B	1.83B	1.8B	1.67B	1.6B	1.79B	1.69B	1.15B
Asset Turnover	0.79x	0.27x	0.28x	0.36x	0.39x	0.43x	0.46x	0.38x	0.40x	0.60x
Asset Growth %	-0.21%	0.04%	0.06%	-0.17%	-0.02%	-0.07%	-0.04%	0.11%	-0.05%	-0.32%
Total Current Liabilities+	315.2M	324.4M	389.8M	264.3M	212.5M	166.3M	139.2M	191M	234.6M	165.9M
Accounts Payable	163.2M	160.6M	171.2M	169.9M	83M	67.6M	56.4M	67.9M	56.3M	54.3M
Days Payables Outstanding	57.12	217.91	227.48	237.24	102.56	76.11	56.45	85.49	69.99	64.66
Short-Term Debt	0	0	39.8M	0	0	0	0	6.2M	8.6M	9.4M
Deferred Revenue (Current)	0	0	1000K	0	0	0	0	0	0	0
Other Current Liabilities	15.3M	113.9M	134.3M	0	0	0	0	7.1M	108.7M	73.3M
Current Ratio	2.14x	1.83x	2.98x	2.70x	2.53x	2.81x	3.07x	3.27x	2.08x	2.37x
Quick Ratio	1.18x	0.99x	2.74x	2.24x	1.85x	1.79x	1.93x	2.57x	1.38x	1.53x
Cash Conversion Cycle	101.1	273.35	14.72	16.49	163.42	199.78	167.3	170.67	210.31	171.1
Total Non-Current Liabilities+	629.7M	644.9M	590.7M	271.9M	321.9M	250M	193.8M	304.7M	221.5M	159.8M
Long-Term Debt	578.1M	579M	541.1M	247.7M	248.1M	180M	130M	226.3M	159.4M	125.3M
Capital Lease Obligations	0	0	0	0	62.6M	53.3M	42.8M	32.5M	28.3M	24.6M
Deferred Tax Liabilities	23.8M	35.8M	17.8M	4.4M	0	5.7M	11.9M	25.4M	23.8M	5.5M
Other Non-Current Liabilities	27.8M	65.9M	31.8M	19.8M	11.2M	11M	9.1M	20.5M	10M	4.4M
Total Liabilities	944.9M	969.3M	980.5M	536.2M	534.4M	416.3M	333M	495.7M	456.1M	325.7M
Total Debt+	578.1M	579M	580.9M	247.7M	325.4M	248.8M	187.5M	277M	209.1M	170.2M
Net Debt	448.6M	465.3M	361.2M	-136.8M	120.1M	137.3M	69M	149.3M	121.4M	62.5M
Debt / Equity	0.55x	0.53x	0.48x	0.19x	0.26x	0.20x	0.15x	0.21x	0.17x	0.21x
Debt / EBITDA	2.62x	-	24.20x	3.62x	10.33x	2.19x	1.50x	3.34x	1.93x	1.99x
Net Debt / EBITDA	2.03x	-	15.05x	-2.00x	3.81x	1.21x	0.55x	1.80x	1.12x	0.73x
Interest Coverage	4.68x	-2.12x	-0.51x	1.32x	-0.36x	4.54x	26.30x	4.19x	4.33x	3.28x
Total Equity+	1.06B	1.1B	1.22B	1.3B	1.27B	1.26B	1.27B	1.29B	1.24B	828.5M
Equity Growth %	-0.29%	0.04%	0.1%	0.07%	-0.02%	-0.01%	0.01%	0.02%	-0.04%	-0.33%
Book Value per Share	22.65	23.46	25.97	27.48	26.58	26.29	26.14	27.30	26.53	18.01
Total Shareholders' Equity	1.06B	1.1B	1.22B	1.3B	1.27B	1.26B	1.27B	1.29B	1.24B	828.5M
Common Stock	500K	500K	500K	500K	500K	500K	500K	500K	500K	500K
Retained Earnings	-419M	-379.2M	-299.9M	-242.4M	-288.3M	-315.5M	-303.6M	-253.1M	-314.9M	-707M
Treasury Stock	-1M	-1.9M	-4.4M	-5.3M	-8.9M	-9.8M	-21.3M	-66.8M	-85.9M	-99M
Accumulated OCI	-43.2M	-50.1M	-31.3M	-33.7M	-32M	-28.1M	-33.8M	-35.8M	-27M	-44.6M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	97.6M	188.8M	144.2M	-145.6M	-74.5M	-2.5M	87.3M	90.9M	32.4M	100.7M
Operating CF Margin %	0.06%	0.33%	0.24%	-0.22%	-0.11%	-0%	0.12%	0.13%	0.05%	0.15%
Operating CF Growth %	-0.34%	0.93%	-0.24%	-2.01%	0.49%	0.97%	35.92%	0.04%	-0.64%	2.11%
Net Income	-426.3M	39.8M	79.3M	57.5M	-45.9M	-27.2M	5.2M	50.5M	-61.8M	-392.1M
Depreciation & Amortization	65.4M	65.2M	59.5M	33.5M	36.9M	42.9M	38.3M	47.7M	46.1M	45.5M
Stock-Based Compensation	14.1M	14.8M	12.6M	10.5M	10.5M	12.1M	13.2M	15.9M	15.8M	13.8M
Deferred Taxes	8.2M	-11.5M	-6.2M	3.7M	-6.5M	25.9M	-3.4M	0	0	0
Other Non-Cash Items	453.2M	-11.1M	3.3M	-107.4M	-9.9M	11.6M	8M	1.1M	50.3M	398.5M
Working Capital Changes	-17M	91.6M	-4.3M	-143.4M	-59.6M	-67.8M	26M	-24.3M	-18M	35M
Change in Receivables	9M	8.4M	-15.3M	67.4M	-800K	45.8M	-10.8M	-24.7M	39M	-6.6M
Change in Inventory	-20.2M	41M	-16.8M	-34.5M	-21.3M	-21.8M	17.2M	-30.9M	4.7M	39M
Change in Payables	14.7M	6.5M	18.8M	-64M	-83.6M	-18.9M	-11.9M	35.4M	-14.4M	-900K
Cash from Investing+	-62.6M	-200.9M	-43.1M	639.5M	-108.1M	-24.2M	-21M	-135.4M	21.6M	-27.5M
Capital Expenditures	-70.4M	-29.1M	-43.2M	-49.1M	-50.6M	-20.2M	-21M	-19.3M	-17.8M	-17.8M
CapEx % of Revenue	0.04%	0.05%	0.07%	0.08%	0.07%	0.03%	0.03%	0.03%	0.03%	0.03%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	7.8M	3.2M	100K	754.3M	0	0	0	0	0	0
Cash from Financing+	-50.6M	-1.4M	2.2M	-324.4M	1.5M	-70M	-55.3M	56.7M	-94.2M	-49.1M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	1.4M	400K	4.7M	15.5M	5.3M	700K	6.2M	-1.2M	-10.4M	-2.7M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	27.2M	159.7M	101M	-194.7M	-125.1M	-22.7M	66.3M	71.6M	14.6M	82.9M
FCF Margin %	0.02%	0.28%	0.17%	-0.3%	-0.18%	-0.03%	0.09%	0.1%	0.02%	0.12%
FCF Growth %	-0.61%	4.87%	-0.37%	-2.93%	0.36%	0.82%	3.92%	0.08%	-0.8%	4.68%
FCF per Share	0.58	3.40	2.16	-4.13	-2.63	-0.47	1.36	1.51	0.31	1.80
FCF Conversion (FCF/Net Income)	-0.23x	4.74x	1.82x	-2.53x	1.62x	0.09x	13.86x	1.80x	-0.52x	-0.26x
Interest Paid	32.6M	29.9M	28.7M	20.6M	16.7M	0	0	0	14.7M	11.5M
Taxes Paid	-43.3M	29.1M	21.4M	96.6M	8.4M	0	0	0	23.6M	3.3M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-33.48%	3.69%	6.84%	4.58%	-3.58%	-2.16%	0.5%	3.94%	-4.89%	-37.98%
Return on Invested Capital (ROIC)	6.67%	-3.39%	-0.76%	1.91%	-0.32%	3.83%	4.76%	2.26%	3.48%	2.67%
Gross Margin	33.77%	52.49%	55.08%	59.93%	57.65%	54.64%	51.02%	57.62%	56.39%	55.44%
Net Margin	-27.08%	7.03%	12.97%	8.82%	-6.58%	-3.81%	0.85%	7.38%	-9.18%	-57.01%
Debt / Equity	0.55x	0.53x	0.48x	0.19x	0.26x	0.20x	0.15x	0.21x	0.17x	0.21x
Interest Coverage	4.68x	-2.12x	-0.51x	1.32x	-0.36x	4.54x	26.30x	4.19x	4.33x	3.28x
FCF Conversion	-0.23x	4.74x	1.82x	-2.53x	1.62x	0.09x	13.86x	1.80x	-0.52x	-0.26x
Revenue Growth	-5.84%	-64.04%	8.02%	6.65%	6.94%	2.47%	4.17%	-8.13%	-1.58%	2.15%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Digestive Health	-	-	-	-	-	-	-	-	371.6M	396.4M
Digestive Health Growth	-	-	-	-	-	-	-	-	-	6.67%
Interventional Pain	-	-	-	-	-	-	-	-	162.5M	167.3M
Interventional Pain Growth	-	-	-	-	-	-	-	-	-	2.95%
Chronic Care	-	-	-	386M	413.7M	471.2M	479.8M	476.3M	-	-
Chronic Care Growth	-	-	-	-	7.18%	13.90%	1.83%	-0.73%	-	-
Pain Management	-	-	-	266.3M	283.9M	243.6M	264.8M	343.7M	-	-
Pain Management Growth	-	-	-	-	6.61%	-14.20%	8.70%	29.80%	-	-
Digestive health	-	-	-	-	-	-	322.2M	340.4M	-	-
Digestive health Growth	-	-	-	-	-	-	-	5.65%	-	-
Interventional pain	-	-	-	-	-	-	102.1M	183.6M	-	-
Interventional pain Growth	-	-	-	-	-	-	-	79.82%	-	-
Acute pain	-	-	-	-	-	-	162.7M	160.1M	-	-
Acute pain Growth	-	-	-	-	-	-	-	-1.60%	-	-
Respiratory health	-	-	-	-	-	-	157.6M	135.9M	-	-
Respiratory health Growth	-	-	-	-	-	-	-	-13.77%	-	-
Medical Devices	509.5M	567.3M	611.6M	-	-	-	-	-	-	-
Medical Devices Growth	-	11.34%	7.81%	-	-	-	-	-	-	-
Surgical and Infection Prevention	1.03B	1.01B	-	-	-	-	-	-	-	-
Surgical and Infection Prevention Growth	-	-1.76%	-	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	1.1B	1.1B	467M	457M	481M	482M	521.6M	560.7M	467M	529.1M
UNITED STATES Growth	-	0.00%	-57.55%	-2.14%	5.25%	0.21%	8.22%	7.50%	-16.71%	13.30%

Frequently Asked Questions

Growth & Financials

Avanos Medical, Inc. (AVNS) reported $699.9M in revenue for fiscal year 2024. This represents a 58% decrease from $1.68B in 2012.

Avanos Medical, Inc. (AVNS) grew revenue by 2.2% over the past year. Growth has been modest.

Avanos Medical, Inc. (AVNS) reported a net loss of $468.9M for fiscal year 2024.

Dividend & Returns

Avanos Medical, Inc. (AVNS) has a return on equity (ROE) of -38.0%. Negative ROE indicates the company is unprofitable.

Avanos Medical, Inc. (AVNS) generated $74.9M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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Avanos Medical, Inc. (AVNS) 10-Year Financial Performance & Capital Metrics

AVNS • • Industrial / General

HealthcareMedical DevicesRespiratory & Pulmonary DevicesAirway & Pulmonary Therapy

Revenue $688M +2.2%
EBITDA $86M -21.2%
Net Income -$392M -534.5%
EPS (Diluted) -8.53 -541.4%
Gross Margin 55.44% -1.7%
EBITDA Margin 12.43% -22.9%
Operating Margin 5.82% -39.8%
Net Margin -57.01% -521.1%
ROE -37.98% -676.6%
ROIC 2.67% -23.4%
Debt/Equity 0.21 +21.5%
Interest Coverage 3.28 -24.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Trading at only 0.7x book value

✗Weaknesses

✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-8.5%

5Y-0.28%

3Y-2.61%

TTM2.7%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-3086.62%

EPS CAGR

10Y-

5Y-

3Y-

TTM-3079.59%

ROCE

10Y Avg2.55%

5Y Avg4.14%

3Y Avg3.42%

Latest3.27%

Peer Comparison

Airway & Pulmonary Therapy

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
ELMDElectromed, Inc.	239.29M	28.69	33.36	16.97%	12.38%	18.32%	4.63%	0.00
XAIRBeyond Air, Inc.	7.02M	0.88	-0.06	219.67%	-6.32%	-280.24%		0.82
LUNGPulmonx Corporation	82.08M	1.99	-1.38	22.01%	-61.91%	-94.54%		0.66
AVNSAvanos Medical, Inc.	555.63M	11.97	-1.40	2.15%	-67%	-60.27%	14.92%	0.21
INGNInogen, Inc.	168.59M	6.21	-4.09	6.35%	-7.31%	-12.87%		0.11
QIPTQuipt Home Medical Corp.	156.3M	3.55	-14.79	-0.23%	-4.11%	-10.06%	16.21%	0.16
IINNInspira Technologies Oxy B.H.N. Ltd.	34.51M	0.96	-1600			-190.28%		0.58

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	1.57B	566.2M	611.6M	652.3M	697.6M	714.8M	744.6M	684.1M	673.3M	687.8M
Revenue Growth %	-0.06%	-0.64%	0.08%	0.07%	0.07%	0.02%	0.04%	-0.08%	-0.02%	0.02%
Cost of Goods Sold+	1.04B	269M	274.7M	261.4M	295.4M	324.2M	364.7M	289.9M	293.6M	306.5M
COGS % of Revenue	0.66%	0.48%	0.45%	0.4%	0.42%	0.45%	0.49%	0.42%	0.44%	0.45%
Gross Profit+	531.6M	297.2M	336.9M	390.9M	402.2M	390.6M	379.9M	394.2M	379.7M	381.3M
Gross Margin %	0.34%	0.52%	0.55%	0.6%	0.58%	0.55%	0.51%	0.58%	0.56%	0.55%
Gross Profit Growth %	-0.13%	-0.44%	0.13%	0.16%	0.03%	-0.03%	-0.03%	0.04%	-0.04%	0%
Operating Expenses+	376.8M	366.6M	352.9M	356M	407.6M	319.7M	293.1M	352.3M	314.7M	341.3M
OpEx % of Revenue	0.24%	0.65%	0.58%	0.55%	0.58%	0.45%	0.39%	0.51%	0.47%	0.5%
Selling, General & Admin	344.5M	328.2M	314.7M	314.2M	369.9M	284.8M	260.8M	323.1M	287.5M	315.1M
SG&A % of Revenue	0.22%	0.58%	0.51%	0.48%	0.53%	0.4%	0.35%	0.47%	0.43%	0.46%
Research & Development	32.3M	38.4M	38.2M	41.8M	37.7M	34.9M	32.3M	30.6M	27.2M	26.2M
R&D % of Revenue	0.02%	0.07%	0.06%	0.06%	0.05%	0.05%	0.04%	0.04%	0.04%	0.04%
Other Operating Expenses	0	0	0	0	0	0	0	0	0	0
Operating Income+	154.8M	-69.4M	-16M	34.9M	-5.4M	70.9M	86.8M	41.9M	65M	40M
Operating Margin %	0.1%	-0.12%	-0.03%	0.05%	-0.01%	0.1%	0.12%	0.06%	0.1%	0.06%
Operating Income Growth %	-0.5%	-1.45%	0.77%	3.18%	-1.15%	14.13%	0.22%	-0.52%	0.55%	-0.38%
EBITDA+	220.8M	-28.4M	24M	68.4M	31.5M	113.8M	125.1M	83M	108.5M	85.5M
EBITDA Margin %	0.14%	-0.05%	0.04%	0.1%	0.05%	0.16%	0.17%	0.12%	0.16%	0.12%
EBITDA Growth %	-0.44%	-1.13%	1.85%	1.85%	-0.54%	2.61%	0.1%	-0.34%	0.31%	-0.21%
D&A (Non-Cash Add-back)	66M	41M	40M	33.5M	36.9M	42.9M	38.3M	41.1M	43.5M	45.5M
EBIT	-377.4M	-106.5M	-40.6M	3.5M	-49M	-44.9M	10.6M	36.7M	7.1M	-391.1M
Net Interest Income+	-32.8M	-32.1M	-29.1M	-18.6M	-8.3M	-14.4M	-3.1M	-8.8M	-12.1M	-7.1M
Interest Income	300K	600K	2.5M	7.8M	6.7M	1.2M	200K	1.2M	2.9M	5.1M
Interest Expense	33.1M	32.7M	31.6M	26.4M	15M	15.6M	3.3M	10M	15M	12.2M
Other Income/Expense	-565.3M	-69.8M	-56.2M	-53M	-58.6M	-131.4M	-79.5M	-15.2M	-72.9M	-443.3M
Pretax Income+	-410.5M	-139.2M	-72.2M	-18.1M	-64M	-60.5M	7.3M	26.7M	-7.9M	-403.3M
Pretax Margin %	-0.26%	-0.25%	-0.12%	-0.03%	-0.09%	-0.08%	0.01%	0.04%	-0.01%	-0.59%
Income Tax+	15.8M	-55.9M	-40.1M	-9.6M	-18.1M	-33.3M	1M	5.2M	2M	-17M
Effective Tax Rate %	1.04%	-0.29%	-1.1%	-3.18%	0.72%	0.45%	0.86%	1.89%	7.82%	0.97%
Net Income+	-426.3M	39.8M	79.3M	57.5M	-45.9M	-27.2M	6.3M	50.5M	-61.8M	-392.1M
Net Margin %	-0.27%	0.07%	0.13%	0.09%	-0.07%	-0.04%	0.01%	0.07%	-0.09%	-0.57%
Net Income Growth %	-16.73%	1.09%	0.99%	-0.27%	-1.8%	0.41%	1.23%	7.02%	-2.22%	-5.34%
Net Income (Continuing)	-426.3M	-83.3M	-32.1M	-8.5M	-45.9M	-27.2M	6.3M	21.5M	-9.9M	-386.3M
Discontinued Operations	0	123.1M	111.4M	66M	0	0	0	29M	-51.9M	-5.8M
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-9.15	0.85	1.69	1.22	-0.96	-0.57	0.13	1.07	-1.33	-8.53
EPS Growth %	-16.78%	1.09%	0.99%	-0.28%	-1.79%	0.41%	1.23%	7.23%	-2.24%	-5.41%
EPS (Basic)	-9.15	0.85	1.69	1.22	-0.96	-0.57	0.13	1.08	-1.33	-8.53
Diluted Shares Outstanding	46.59M	47M	46.8M	47.2M	47.6M	47.8M	48.6M	47.3M	46.6M	46M
Basic Shares Outstanding	46.59M	46.6M	46.52M	47.2M	47.6M	47.8M	48.1M	46.9M	46.6M	46M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	676M	593.5M	1.16B	713.6M	538.5M	467.2M	427.6M	624.1M	487M	393.4M
Cash & Short-Term Investments	129.5M	113.7M	219.7M	384.5M	205.3M	111.5M	118.5M	127.7M	87.7M	107.7M
Cash Only	129.5M	113.7M	219.7M	384.5M	205.3M	111.5M	118.5M	127.7M	87.7M	107.7M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	224.7M	188.5M	203M	150.5M	163.8M	167.9M	131.2M	167.9M	142.8M	132.8M
Days Sales Outstanding	52.09	121.52	121.15	84.21	85.7	85.74	64.31	89.58	77.41	70.47
Inventory	303.2M	272.5M	91.1M	121.4M	145.9M	168.9M	159.3M	132.3M	163.2M	138.8M
Days Inventory Outstanding	106.13	369.75	121.05	169.51	180.28	190.16	159.43	166.57	202.89	165.29
Other Current Assets	0	194M	632.5M	57.2M	0	0	0	196.2M	93.3M	14.1M
Total Non-Current Assets+	1.32B	1.48B	1.04B	1.12B	1.26B	1.21B	1.18B	1.16B	1.21B	760.8M
Property, Plant & Equipment	279.5M	260.8M	109.9M	154.1M	248.5M	223.6M	206.7M	146.1M	144M	144.8M
Fixed Asset Turnover	5.63x	2.17x	5.57x	4.23x	2.81x	3.20x	3.60x	4.68x	4.68x	4.75x
Goodwill	945.2M	1.03B	764.7M	783.6M	800.9M	802.5M	801.6M	760.3M	796.1M	455.6M
Intangible Assets	82.6M	169.8M	148.9M	168.2M	184.3M	157.7M	141.2M	234.2M	239.5M	112.3M
Long-Term Investments	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	2M	3.6M	4.1M	7.6M	11.3M	11.8M	16.5M	17.6M	19.3M	23.2M
Total Assets+	2B	2.07B	2.2B	1.83B	1.8B	1.67B	1.6B	1.79B	1.69B	1.15B
Asset Turnover	0.79x	0.27x	0.28x	0.36x	0.39x	0.43x	0.46x	0.38x	0.40x	0.60x
Asset Growth %	-0.21%	0.04%	0.06%	-0.17%	-0.02%	-0.07%	-0.04%	0.11%	-0.05%	-0.32%
Total Current Liabilities+	315.2M	324.4M	389.8M	264.3M	212.5M	166.3M	139.2M	191M	234.6M	165.9M
Accounts Payable	163.2M	160.6M	171.2M	169.9M	83M	67.6M	56.4M	67.9M	56.3M	54.3M
Days Payables Outstanding	57.12	217.91	227.48	237.24	102.56	76.11	56.45	85.49	69.99	64.66
Short-Term Debt	0	0	39.8M	0	0	0	0	6.2M	8.6M	9.4M
Deferred Revenue (Current)	0	0	1000K	0	0	0	0	0	0	0
Other Current Liabilities	15.3M	113.9M	134.3M	0	0	0	0	7.1M	108.7M	73.3M
Current Ratio	2.14x	1.83x	2.98x	2.70x	2.53x	2.81x	3.07x	3.27x	2.08x	2.37x
Quick Ratio	1.18x	0.99x	2.74x	2.24x	1.85x	1.79x	1.93x	2.57x	1.38x	1.53x
Cash Conversion Cycle	101.1	273.35	14.72	16.49	163.42	199.78	167.3	170.67	210.31	171.1
Total Non-Current Liabilities+	629.7M	644.9M	590.7M	271.9M	321.9M	250M	193.8M	304.7M	221.5M	159.8M
Long-Term Debt	578.1M	579M	541.1M	247.7M	248.1M	180M	130M	226.3M	159.4M	125.3M
Capital Lease Obligations	0	0	0	0	62.6M	53.3M	42.8M	32.5M	28.3M	24.6M
Deferred Tax Liabilities	23.8M	35.8M	17.8M	4.4M	0	5.7M	11.9M	25.4M	23.8M	5.5M
Other Non-Current Liabilities	27.8M	65.9M	31.8M	19.8M	11.2M	11M	9.1M	20.5M	10M	4.4M
Total Liabilities	944.9M	969.3M	980.5M	536.2M	534.4M	416.3M	333M	495.7M	456.1M	325.7M
Total Debt+	578.1M	579M	580.9M	247.7M	325.4M	248.8M	187.5M	277M	209.1M	170.2M
Net Debt	448.6M	465.3M	361.2M	-136.8M	120.1M	137.3M	69M	149.3M	121.4M	62.5M
Debt / Equity	0.55x	0.53x	0.48x	0.19x	0.26x	0.20x	0.15x	0.21x	0.17x	0.21x
Debt / EBITDA	2.62x	-	24.20x	3.62x	10.33x	2.19x	1.50x	3.34x	1.93x	1.99x
Net Debt / EBITDA	2.03x	-	15.05x	-2.00x	3.81x	1.21x	0.55x	1.80x	1.12x	0.73x
Interest Coverage	4.68x	-2.12x	-0.51x	1.32x	-0.36x	4.54x	26.30x	4.19x	4.33x	3.28x
Total Equity+	1.06B	1.1B	1.22B	1.3B	1.27B	1.26B	1.27B	1.29B	1.24B	828.5M
Equity Growth %	-0.29%	0.04%	0.1%	0.07%	-0.02%	-0.01%	0.01%	0.02%	-0.04%	-0.33%
Book Value per Share	22.65	23.46	25.97	27.48	26.58	26.29	26.14	27.30	26.53	18.01
Total Shareholders' Equity	1.06B	1.1B	1.22B	1.3B	1.27B	1.26B	1.27B	1.29B	1.24B	828.5M
Common Stock	500K	500K	500K	500K	500K	500K	500K	500K	500K	500K
Retained Earnings	-419M	-379.2M	-299.9M	-242.4M	-288.3M	-315.5M	-303.6M	-253.1M	-314.9M	-707M
Treasury Stock	-1M	-1.9M	-4.4M	-5.3M	-8.9M	-9.8M	-21.3M	-66.8M	-85.9M	-99M
Accumulated OCI	-43.2M	-50.1M	-31.3M	-33.7M	-32M	-28.1M	-33.8M	-35.8M	-27M	-44.6M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	97.6M	188.8M	144.2M	-145.6M	-74.5M	-2.5M	87.3M	90.9M	32.4M	100.7M
Operating CF Margin %	0.06%	0.33%	0.24%	-0.22%	-0.11%	-0%	0.12%	0.13%	0.05%	0.15%
Operating CF Growth %	-0.34%	0.93%	-0.24%	-2.01%	0.49%	0.97%	35.92%	0.04%	-0.64%	2.11%
Net Income	-426.3M	39.8M	79.3M	57.5M	-45.9M	-27.2M	5.2M	50.5M	-61.8M	-392.1M
Depreciation & Amortization	65.4M	65.2M	59.5M	33.5M	36.9M	42.9M	38.3M	47.7M	46.1M	45.5M
Stock-Based Compensation	14.1M	14.8M	12.6M	10.5M	10.5M	12.1M	13.2M	15.9M	15.8M	13.8M
Deferred Taxes	8.2M	-11.5M	-6.2M	3.7M	-6.5M	25.9M	-3.4M	0	0	0
Other Non-Cash Items	453.2M	-11.1M	3.3M	-107.4M	-9.9M	11.6M	8M	1.1M	50.3M	398.5M
Working Capital Changes	-17M	91.6M	-4.3M	-143.4M	-59.6M	-67.8M	26M	-24.3M	-18M	35M
Change in Receivables	9M	8.4M	-15.3M	67.4M	-800K	45.8M	-10.8M	-24.7M	39M	-6.6M
Change in Inventory	-20.2M	41M	-16.8M	-34.5M	-21.3M	-21.8M	17.2M	-30.9M	4.7M	39M
Change in Payables	14.7M	6.5M	18.8M	-64M	-83.6M	-18.9M	-11.9M	35.4M	-14.4M	-900K
Cash from Investing+	-62.6M	-200.9M	-43.1M	639.5M	-108.1M	-24.2M	-21M	-135.4M	21.6M	-27.5M
Capital Expenditures	-70.4M	-29.1M	-43.2M	-49.1M	-50.6M	-20.2M	-21M	-19.3M	-17.8M	-17.8M
CapEx % of Revenue	0.04%	0.05%	0.07%	0.08%	0.07%	0.03%	0.03%	0.03%	0.03%	0.03%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	7.8M	3.2M	100K	754.3M	0	0	0	0	0	0
Cash from Financing+	-50.6M	-1.4M	2.2M	-324.4M	1.5M	-70M	-55.3M	56.7M	-94.2M	-49.1M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	1.4M	400K	4.7M	15.5M	5.3M	700K	6.2M	-1.2M	-10.4M	-2.7M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	27.2M	159.7M	101M	-194.7M	-125.1M	-22.7M	66.3M	71.6M	14.6M	82.9M
FCF Margin %	0.02%	0.28%	0.17%	-0.3%	-0.18%	-0.03%	0.09%	0.1%	0.02%	0.12%
FCF Growth %	-0.61%	4.87%	-0.37%	-2.93%	0.36%	0.82%	3.92%	0.08%	-0.8%	4.68%
FCF per Share	0.58	3.40	2.16	-4.13	-2.63	-0.47	1.36	1.51	0.31	1.80
FCF Conversion (FCF/Net Income)	-0.23x	4.74x	1.82x	-2.53x	1.62x	0.09x	13.86x	1.80x	-0.52x	-0.26x
Interest Paid	32.6M	29.9M	28.7M	20.6M	16.7M	0	0	0	14.7M	11.5M
Taxes Paid	-43.3M	29.1M	21.4M	96.6M	8.4M	0	0	0	23.6M	3.3M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-33.48%	3.69%	6.84%	4.58%	-3.58%	-2.16%	0.5%	3.94%	-4.89%	-37.98%
Return on Invested Capital (ROIC)	6.67%	-3.39%	-0.76%	1.91%	-0.32%	3.83%	4.76%	2.26%	3.48%	2.67%
Gross Margin	33.77%	52.49%	55.08%	59.93%	57.65%	54.64%	51.02%	57.62%	56.39%	55.44%
Net Margin	-27.08%	7.03%	12.97%	8.82%	-6.58%	-3.81%	0.85%	7.38%	-9.18%	-57.01%
Debt / Equity	0.55x	0.53x	0.48x	0.19x	0.26x	0.20x	0.15x	0.21x	0.17x	0.21x
Interest Coverage	4.68x	-2.12x	-0.51x	1.32x	-0.36x	4.54x	26.30x	4.19x	4.33x	3.28x
FCF Conversion	-0.23x	4.74x	1.82x	-2.53x	1.62x	0.09x	13.86x	1.80x	-0.52x	-0.26x
Revenue Growth	-5.84%	-64.04%	8.02%	6.65%	6.94%	2.47%	4.17%	-8.13%	-1.58%	2.15%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Digestive Health	-	-	-	-	-	-	-	-	371.6M	396.4M
Digestive Health Growth	-	-	-	-	-	-	-	-	-	6.67%
Interventional Pain	-	-	-	-	-	-	-	-	162.5M	167.3M
Interventional Pain Growth	-	-	-	-	-	-	-	-	-	2.95%
Chronic Care	-	-	-	386M	413.7M	471.2M	479.8M	476.3M	-	-
Chronic Care Growth	-	-	-	-	7.18%	13.90%	1.83%	-0.73%	-	-
Pain Management	-	-	-	266.3M	283.9M	243.6M	264.8M	343.7M	-	-
Pain Management Growth	-	-	-	-	6.61%	-14.20%	8.70%	29.80%	-	-
Digestive health	-	-	-	-	-	-	322.2M	340.4M	-	-
Digestive health Growth	-	-	-	-	-	-	-	5.65%	-	-
Interventional pain	-	-	-	-	-	-	102.1M	183.6M	-	-
Interventional pain Growth	-	-	-	-	-	-	-	79.82%	-	-
Acute pain	-	-	-	-	-	-	162.7M	160.1M	-	-
Acute pain Growth	-	-	-	-	-	-	-	-1.60%	-	-
Respiratory health	-	-	-	-	-	-	157.6M	135.9M	-	-
Respiratory health Growth	-	-	-	-	-	-	-	-13.77%	-	-
Medical Devices	509.5M	567.3M	611.6M	-	-	-	-	-	-	-
Medical Devices Growth	-	11.34%	7.81%	-	-	-	-	-	-	-
Surgical and Infection Prevention	1.03B	1.01B	-	-	-	-	-	-	-	-
Surgical and Infection Prevention Growth	-	-1.76%	-	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	1.1B	1.1B	467M	457M	481M	482M	521.6M	560.7M	467M	529.1M
UNITED STATES Growth	-	0.00%	-57.55%	-2.14%	5.25%	0.21%	8.22%	7.50%	-16.71%	13.30%

Frequently Asked Questions

Growth & Financials

Avanos Medical, Inc. (AVNS) reported $699.9M in revenue for fiscal year 2024. This represents a 58% decrease from $1.68B in 2012.

Avanos Medical, Inc. (AVNS) grew revenue by 2.2% over the past year. Growth has been modest.

Avanos Medical, Inc. (AVNS) reported a net loss of $468.9M for fiscal year 2024.

Dividend & Returns

Avanos Medical, Inc. (AVNS) has a return on equity (ROE) of -38.0%. Negative ROE indicates the company is unprofitable.

Avanos Medical, Inc. (AVNS) generated $74.9M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.