Avalon Holdings Corporation (AWX) 10-Year Financial Performance & Capital Metrics

AWX • • Industrial / General

IndustrialsWaste ManagementSolid Waste ManagementRegional Solid Waste Operators

AboutAvalon Holdings Corporation provides waste management services to industrial, commercial, municipal, and governmental customers in the United States. It operates in Waste Management Services, and Golf and Related Operations segments. The Waste Management Services segment offers hazardous and nonhazardous waste disposal brokerage and management services; and captive landfill management services, as well as engages in the salt water injection well operations. This segment also provides turnkey services, including daily operations, facilities management, and management reporting; and sells construction mats. The Golf and Related Operations segment operates and manages four golf courses and related clubhouses, a hotel, and a travel agency. Its golf and country club facilities provide swimming pools, fitness centers, tennis courts, dining, and banquet and conference facilities, as well as spa services. The company also owns and operates hotel under the brand of The Grand Resort, which provides various facilities, such as hotel, indoor and outdoor swimming pool, bath, fitness center, restaurants, bars, cigar lounge, salon and spa, banquet and conference facilities, and adjoining tennis center. Avalon Holdings Corporation was founded in 1998 and is headquartered in Warren, Ohio.Show more

Revenue $84M +4.1%
EBITDA $7M +96.5%
Net Income $1M +174.3%
EPS (Diluted) 0.34 +173.9%
Gross Margin 20.56% +20.1%
EBITDA Margin 8.33% +88.8%
Operating Margin 3.67% +1182.2%
Net Margin 1.57% +171.3%
ROE 3.6% +175.4%
ROIC 3.32% +1236.5%
Debt/Equity 0.94 -3.4%
Interest Coverage 1.51 +1258.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 7/9
✓High quality earnings: Operating CF exceeds net income
✓Trading at only 0.3x book value

✗Weaknesses

✗Thin 5Y average net margin of 0.3%
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y4.99%

5Y4.16%

3Y5.99%

TTM-4.96%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-12.55%

TTM-81.71%

EPS CAGR

10Y-

5Y-

3Y-12.64%

TTM-80%

ROCE

10Y Avg-0.3%

5Y Avg1.13%

3Y Avg1.5%

Latest4.37%

Peer Comparison

Regional Solid Waste Operators

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
CWSTCasella Waste Systems, Inc.	6.55B	104.79	455.61	23.15%	0.85%	0.97%	1.19%	0.78
AWXAvalon Holdings Corporation	8.78M	2.67	7.85	4.07%	0.23%	0.48%	12.76%	0.94
QRHCQuest Resource Holding Corporation	41.32M	1.98	-2.71	0.05%	-8.89%	-55.31%		1.46

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	53.09M	61.35M	55.85M	62.23M	68.36M	58.72M	70.38M	81.18M	80.52M	83.8M
Revenue Growth %	0.03%	0.16%	-0.09%	0.11%	0.1%	-0.14%	0.2%	0.15%	-0.01%	0.04%
Cost of Goods Sold+	44.2M	50.52M	44.67M	49.79M	56.27M	47.02M	56.83M	67.22M	66.73M	66.57M
COGS % of Revenue	0.83%	0.82%	0.8%	0.8%	0.82%	0.8%	0.81%	0.83%	0.83%	0.79%
Gross Profit+	8.89M	10.83M	11.18M	12.44M	12.09M	11.71M	13.55M	13.96M	13.78M	17.23M
Gross Margin %	0.17%	0.18%	0.2%	0.2%	0.18%	0.2%	0.19%	0.17%	0.17%	0.21%
Gross Profit Growth %	0.01%	0.22%	0.03%	0.11%	-0.03%	-0.03%	0.16%	0.03%	-0.01%	0.25%
Operating Expenses+	10.2M	11.02M	11.45M	11.88M	11.95M	11.58M	12.99M	13.62M	14.05M	14.15M
OpEx % of Revenue	0.19%	0.18%	0.2%	0.19%	0.17%	0.2%	0.18%	0.17%	0.17%	0.17%
Selling, General & Admin	7.63M	8.2M	8.45M	9M	9.43M	8.67M	9.88M	10.13M	10.23M	10.25M
SG&A % of Revenue	0.14%	0.13%	0.15%	0.14%	0.14%	0.15%	0.14%	0.12%	0.13%	0.12%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	2.56M	2.82M	3M	6.14M	2.52M	2.91M	3.11M	3.48M	3.83M	3.91M
Operating Income+	-1.3M	-186K	-271K	-2.7M	133K	124K	561K	347K	-273K	3.08M
Operating Margin %	-0.02%	-0%	-0%	-0.04%	0%	0%	0.01%	0%	-0%	0.04%
Operating Income Growth %	0.07%	0.86%	-0.46%	-8.96%	1.05%	-0.07%	3.52%	-0.38%	-1.79%	12.26%
EBITDA+	1.26M	2.63M	2.73M	179K	2.65M	3.03M	3.67M	3.83M	3.55M	6.98M
EBITDA Margin %	0.02%	0.04%	0.05%	0%	0.04%	0.05%	0.05%	0.05%	0.04%	0.08%
EBITDA Growth %	0.66%	1.09%	0.04%	-0.93%	13.83%	0.14%	0.21%	0.04%	-0.07%	0.96%
D&A (Non-Cash Add-back)	2.56M	2.82M	3M	2.88M	2.52M	2.91M	3.11M	3.48M	3.83M	3.91M
EBIT	-1.02M	95K	5K	-2.41M	133K	1.26M	2.89M	578K	111K	3.08M
Net Interest Income+	-147K	-379K	-699K	-675K	-837K	-1.21M	-1.16M	-1.46M	-2.1M	-2.04M
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	147K	379K	699K	675K	837K	1.21M	1.16M	1.46M	2.1M	2.04M
Other Income/Expense	139K	-98K	-423K	-391K	-508K	-72K	1.18M	-1.23M	-1.71M	-2.03M
Pretax Income+	-1.16M	-284K	-694K	-3.09M	-375K	52K	1.74M	-886K	-1.99M	1.04M
Pretax Margin %	-0.02%	-0%	-0.01%	-0.05%	-0.01%	0%	0.02%	-0.01%	-0.02%	0.01%
Income Tax+	59K	125K	122K	167K	160K	98K	89K	94K	57K	90K
Effective Tax Rate %	0.61%	0.24%	0.44%	0.37%	1.21%	0.27%	1.14%	0.66%	0.89%	1.26%
Net Income+	-712K	-69K	-307K	-1.14M	-455K	14K	1.97M	-583K	-1.77M	1.32M
Net Margin %	-0.01%	-0%	-0.01%	-0.02%	-0.01%	0%	0.03%	-0.01%	-0.02%	0.02%
Net Income Growth %	0.34%	0.9%	-3.45%	-2.73%	0.6%	1.03%	139.79%	-1.3%	-2.04%	1.74%
Net Income (Continuing)	-1.22M	-409K	-816K	-3.26M	-535K	-46K	1.65M	-980K	-2.04M	952K
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	2.98M	2.63M	2.13M	14K	-66K	-126K	-92K	-347K	-616K	-982K
EPS (Diluted)+	-0.19	-0.02	-0.08	-0.30	-0.14	0.00	0.51	-0.15	-0.46	0.34
EPS Growth %	0.32%	0.9%	-3.46%	-2.72%	0.53%	1.03%	-	-1.29%	-2.07%	1.74%
EPS (Basic)	-0.19	-0.02	-0.08	-0.30	-0.14	0.00	0.51	-0.15	-0.46	0.34
Diluted Shares Outstanding	3.8M	3.8M	3.8M	3.81M	3.88M	3.88M	3.9M	3.9M	3.9M	3.9M
Basic Shares Outstanding	3.8M	3.8M	3.8M	3.81M	3.88M	3.88M	3.9M	3.9M	3.9M	3.9M
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+	12.79M	14.92M	12.91M	15.63M	15.61M	15.26M	15.97M	16.09M	14.04M	14.56M
Cash & Short-Term Investments	1.81M	2.3M	1.02M	1.41M	1.45M	4.21M	3.25M	1.62M	1.19M	2.8M
Cash Only	1.81M	2.3M	1.02M	1.41M	1.45M	4.21M	3.25M	1.62M	1.19M	2.8M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	9.61M	11.35M	10.49M	12.75M	12.61M	9.33M	10.51M	11.73M	10.07M	9.18M
Days Sales Outstanding	66.08	67.52	68.53	74.78	67.34	57.99	54.51	52.72	45.63	39.97
Inventory	830K	773K	850K	820K	813K	910K	1.1M	1.46M	1.66M	1.56M
Days Inventory Outstanding	6.85	5.58	6.95	6.01	5.27	7.06	7.1	7.93	9.09	8.54
Other Current Assets	45K	35K	34K	31K	15K	80K	105K	105K	14K	15K
Total Non-Current Assets+	49.51M	52.98M	52.47M	49.14M	63.55M	62.69M	62.07M	73.66M	73.92M	71.63M
Property, Plant & Equipment	49.43M	50.01M	49.58M	48.6M	56.32M	58.76M	60.33M	63.19M	63.61M	62.61M
Fixed Asset Turnover	1.07x	1.23x	1.13x	1.28x	1.21x	1.00x	1.17x	1.28x	1.27x	1.34x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	0	2.9M	2.83M	502K	0	0	0	0	0	0
Other Non-Current Assets	78K	2.97M	2.89M	529K	7.22M	3.92M	1.73M	10.46M	10.3M	8.99M
Total Assets+	62.3M	67.9M	65.38M	64.77M	79.16M	77.95M	78.04M	89.75M	87.97M	86.19M
Asset Turnover	0.85x	0.90x	0.85x	0.96x	0.86x	0.75x	0.90x	0.90x	0.92x	0.97x
Asset Growth %	0.08%	0.09%	-0.04%	-0.01%	0.22%	-0.02%	0%	0.15%	-0.02%	-0.02%
Total Current Liabilities+	12.15M	14.68M	13.1M	16.32M	19.02M	17.18M	18.02M	18.86M	17.91M	15.46M
Accounts Payable	8.02M	9.39M	7.83M	10.45M	11.72M	9.1M	10.16M	10.99M	9.66M	7.12M
Days Payables Outstanding	66.25	67.82	63.99	76.63	76.01	70.62	65.28	59.7	52.82	39.02
Short-Term Debt	0	517K	547K	578K	1.01M	1.59M	1.13M	503K	538K	575K
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	1.05M	1.21M	1.03M	698K	839K	1.12M	1.26M	1.54M	1.82M	2.02M
Current Ratio	1.05x	1.02x	0.98x	0.96x	0.82x	0.89x	0.89x	0.85x	0.78x	0.94x
Quick Ratio	0.98x	0.96x	0.92x	0.91x	0.78x	0.84x	0.82x	0.78x	0.69x	0.84x
Cash Conversion Cycle	6.69	5.28	11.48	4.17	-3.4	-5.57	-3.67	0.95	1.9	9.5
Total Non-Current Liabilities+	8.4M	11.85M	11.7M	10.96M	23.18M	23.8M	21.04M	32.75M	33.96M	33.67M
Long-Term Debt	7.97M	11.29M	10.74M	10.17M	21.57M	21.94M	19.38M	31.31M	32.42M	31.85M
Capital Lease Obligations	274K	452K	857K	688K	1.51M	1.76M	1.56M	1.34M	1.44M	1.73M
Deferred Tax Liabilities	2.48M	2.64M	1.75M	1.47M	0	0	0	0	0	0
Other Non-Current Liabilities	100K	100K	100K	100K	100K	100K	100K	100K	100K	100K
Total Liabilities	20.55M	26.52M	24.81M	27.28M	42.2M	40.98M	39.06M	51.61M	51.87M	49.13M
Total Debt+	8.31M	12.38M	12.36M	11.67M	24.9M	26.16M	22.76M	33.69M	35.02M	34.71M
Net Debt	6.49M	10.08M	11.34M	10.26M	23.45M	21.95M	19.51M	32.07M	33.84M	31.91M
Debt / Equity	0.20x	0.30x	0.30x	0.31x	0.67x	0.71x	0.58x	0.88x	0.97x	0.94x
Debt / EBITDA	6.60x	4.71x	4.54x	65.19x	9.38x	8.62x	6.20x	8.80x	9.86x	4.97x
Net Debt / EBITDA	5.16x	3.83x	4.16x	57.34x	8.83x	7.24x	5.31x	8.37x	9.52x	4.57x
Interest Coverage	-8.86x	-0.49x	-0.39x	-4.00x	0.16x	0.10x	0.48x	0.24x	-0.13x	1.51x
Total Equity+	41.76M	41.38M	40.57M	37.49M	36.96M	36.97M	38.98M	38.14M	36.1M	37.05M
Equity Growth %	-0.03%	-0.01%	-0.02%	-0.08%	-0.01%	0%	0.05%	-0.02%	-0.05%	0.03%
Book Value per Share	10.98	10.88	10.67	9.83	9.54	9.54	10.00	9.78	9.26	9.50
Total Shareholders' Equity	38.78M	38.74M	38.45M	37.48M	37.03M	37.09M	39.07M	38.49M	36.72M	38.03M
Common Stock	38K	38K	38K	39K	39K	39K	39K	39K	39K	39K
Retained Earnings	-20.18M	-20.25M	-20.56M	-21.7M	-22.16M	-22.14M	-20.17M	-20.75M	-22.53M	-21.21M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-21.54M	-20M	-27.04M	-27.25M	0	0	0	0	0	0
Minority Interest	2.98M	2.63M	2.13M	14K	-66K	-126K	-92K	-347K	-616K	-982K

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+	1.89M	2.59M	1.25M	3.06M	3.15M	2.57M	2.36M	2.26M	2.35M	3.37M
Operating CF Margin %	0.04%	0.04%	0.02%	0.05%	0.05%	0.04%	0.03%	0.03%	0.03%	0.04%
Operating CF Growth %	34.02%	0.37%	-0.52%	1.45%	0.03%	-0.18%	-0.08%	-0.04%	0.04%	0.43%
Net Income	-1.22M	-409K	-816K	-3.26M	-535K	-46K	1.65M	-980K	-1.77M	952K
Depreciation & Amortization	2.56M	2.82M	3M	2.88M	2.52M	2.91M	3.11M	3.48M	3.83M	3.91M
Stock-Based Compensation	56K	29K	12K	6K	6K	6K	5K	4K	1K	0
Deferred Taxes	85K	115K	6K	3.29M	-12K	-799K	-1.94M	0	0	-19K
Other Non-Cash Items	-88K	-71K	-28K	27K	31K	42K	42K	82K	-153K	117K
Working Capital Changes	500K	107K	-922K	116K	1.14M	459K	-505K	-330K	456K	-1.58M
Change in Receivables	-914K	-1.89M	857K	-2.33M	155K	3.24M	-1.22M	-1.25M	1.6M	825K
Change in Inventory	117K	57K	-77K	30K	7K	-97K	-195K	-356K	-201K	104K
Change in Payables	1.32M	1.24M	-1.56M	1.97M	675K	-2.77M	796K	663K	-1.36M	-2.75M
Cash from Investing+	-8.52M	-3M	-1.71M	-4.38M	-7.2M	-4.51M	-4.42M	-6.39M	-3.9M	-2.25M
Capital Expenditures	-8.52M	-3M	-1.79M	-4.41M	-7.25M	-4.55M	-4.42M	-6.39M	-3.9M	-2.25M
CapEx % of Revenue	0.16%	0.05%	0.03%	0.07%	0.11%	0.08%	0.06%	0.08%	0.05%	0.03%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	0	79K	1.3M	90K	0	0	0	0	7K
Cash from Financing+	4.12M	896K	-812K	-622K	10.78M	1.4M	-1.09M	11.23M	944K	-818K
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	-3.06M	-42K	166K	-290K	0	0	-277K	0	0
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-6.63M	-411K	-541K	-1.35M	-4.1M	-1.98M	-2.06M	-4.13M	-1.54M	1.12M
FCF Margin %	-0.12%	-0.01%	-0.01%	-0.02%	-0.06%	-0.03%	-0.03%	-0.05%	-0.02%	0.01%
FCF Growth %	0.02%	0.94%	-0.32%	-1.49%	-2.04%	0.52%	-0.04%	-1.01%	0.63%	1.73%
FCF per Share	-1.74	-0.11	-0.14	-0.35	-1.06	-0.51	-0.53	-1.06	-0.40	0.29
FCF Conversion (FCF/Net Income)	-2.66x	-37.49x	-4.07x	-2.67x	-6.92x	183.64x	1.20x	-3.87x	-1.33x	2.56x
Interest Paid	244K	362K	677K	648K	790K	1.16M	1.13M	1.31M	2.01M	2.18M
Taxes Paid	94K	54K	144K	109K	151K	148K	65K	58K	162K	34K

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-1.68%	-0.17%	-0.75%	-2.93%	-1.22%	0.04%	5.19%	-1.51%	-4.78%	3.6%
Return on Invested Capital (ROIC)	-2.15%	-0.28%	-0.39%	-4.06%	0.18%	0.16%	0.72%	0.4%	-0.29%	3.32%
Gross Margin	16.75%	17.66%	20.01%	19.99%	17.68%	19.93%	19.25%	17.2%	17.11%	20.56%
Net Margin	-1.34%	-0.11%	-0.55%	-1.84%	-0.67%	0.02%	2.8%	-0.72%	-2.2%	1.57%
Debt / Equity	0.20x	0.30x	0.30x	0.31x	0.67x	0.71x	0.58x	0.88x	0.97x	0.94x
Interest Coverage	-8.86x	-0.49x	-0.39x	-4.00x	0.16x	0.10x	0.48x	0.24x	-0.13x	1.51x
FCF Conversion	-2.66x	-37.49x	-4.07x	-2.67x	-6.92x	183.64x	1.20x	-3.87x	-1.33x	2.56x
Revenue Growth	3.14%	15.56%	-8.97%	11.43%	9.84%	-14.1%	19.86%	15.34%	-0.82%	4.07%

Revenue by Segment

	2014	2015	2018	2019	2020	2021	2022	2023	2024
Waste Management Services	38.6M	38.28M	-	-	-	-	-	44.61M	45.92M
Waste Management Services Growth	-	-0.84%	-	-	-	-	-	-	2.94%
Golf and Related Operations	-	-	-	-	-	-	-	35.98M	37.87M
Golf and Related Operations Growth	-	-	-	-	-	-	-	-	5.25%
Customer Advance Deposits	-	-	1.48M	-1.44M	796K	1.83M	2.87M	-	-
Customer Advance Deposits Growth	-	-	-	-197.04%	155.28%	130.15%	56.55%	-	-
Golf And Related Operations	12.87M	14.81M	-	-	-	-	-	-	-
Golf And Related Operations Growth	-	15.10%	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Avalon Holdings Corporation (AWX) has a price-to-earnings (P/E) ratio of 7.9x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Avalon Holdings Corporation (AWX) reported $79.7M in revenue for fiscal year 2024. This represents a 48% increase from $54.0M in 2011.

Avalon Holdings Corporation (AWX) grew revenue by 4.1% over the past year. Growth has been modest.

Yes, Avalon Holdings Corporation (AWX) is profitable, generating $0.2M in net income for fiscal year 2024 (1.6% net margin).

Dividend & Returns

Avalon Holdings Corporation (AWX) has a return on equity (ROE) of 3.6%. This is below average, suggesting room for improvement.

Avalon Holdings Corporation (AWX) generated $1.1M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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Avalon Holdings Corporation (AWX) 10-Year Financial Performance & Capital Metrics

AWX • • Industrial / General

IndustrialsWaste ManagementSolid Waste ManagementRegional Solid Waste Operators

Revenue $84M +4.1%
EBITDA $7M +96.5%
Net Income $1M +174.3%
EPS (Diluted) 0.34 +173.9%
Gross Margin 20.56% +20.1%
EBITDA Margin 8.33% +88.8%
Operating Margin 3.67% +1182.2%
Net Margin 1.57% +171.3%
ROE 3.6% +175.4%
ROIC 3.32% +1236.5%
Debt/Equity 0.94 -3.4%
Interest Coverage 1.51 +1258.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 7/9
✓High quality earnings: Operating CF exceeds net income
✓Trading at only 0.3x book value

✗Weaknesses

✗Thin 5Y average net margin of 0.3%
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y4.99%

5Y4.16%

3Y5.99%

TTM-4.96%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-12.55%

TTM-81.71%

EPS CAGR

10Y-

5Y-

3Y-12.64%

TTM-80%

ROCE

10Y Avg-0.3%

5Y Avg1.13%

3Y Avg1.5%

Latest4.37%

Peer Comparison

Regional Solid Waste Operators

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
CWSTCasella Waste Systems, Inc.	6.55B	104.79	455.61	23.15%	0.85%	0.97%	1.19%	0.78
AWXAvalon Holdings Corporation	8.78M	2.67	7.85	4.07%	0.23%	0.48%	12.76%	0.94
QRHCQuest Resource Holding Corporation	41.32M	1.98	-2.71	0.05%	-8.89%	-55.31%		1.46

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	53.09M	61.35M	55.85M	62.23M	68.36M	58.72M	70.38M	81.18M	80.52M	83.8M
Revenue Growth %	0.03%	0.16%	-0.09%	0.11%	0.1%	-0.14%	0.2%	0.15%	-0.01%	0.04%
Cost of Goods Sold+	44.2M	50.52M	44.67M	49.79M	56.27M	47.02M	56.83M	67.22M	66.73M	66.57M
COGS % of Revenue	0.83%	0.82%	0.8%	0.8%	0.82%	0.8%	0.81%	0.83%	0.83%	0.79%
Gross Profit+	8.89M	10.83M	11.18M	12.44M	12.09M	11.71M	13.55M	13.96M	13.78M	17.23M
Gross Margin %	0.17%	0.18%	0.2%	0.2%	0.18%	0.2%	0.19%	0.17%	0.17%	0.21%
Gross Profit Growth %	0.01%	0.22%	0.03%	0.11%	-0.03%	-0.03%	0.16%	0.03%	-0.01%	0.25%
Operating Expenses+	10.2M	11.02M	11.45M	11.88M	11.95M	11.58M	12.99M	13.62M	14.05M	14.15M
OpEx % of Revenue	0.19%	0.18%	0.2%	0.19%	0.17%	0.2%	0.18%	0.17%	0.17%	0.17%
Selling, General & Admin	7.63M	8.2M	8.45M	9M	9.43M	8.67M	9.88M	10.13M	10.23M	10.25M
SG&A % of Revenue	0.14%	0.13%	0.15%	0.14%	0.14%	0.15%	0.14%	0.12%	0.13%	0.12%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	2.56M	2.82M	3M	6.14M	2.52M	2.91M	3.11M	3.48M	3.83M	3.91M
Operating Income+	-1.3M	-186K	-271K	-2.7M	133K	124K	561K	347K	-273K	3.08M
Operating Margin %	-0.02%	-0%	-0%	-0.04%	0%	0%	0.01%	0%	-0%	0.04%
Operating Income Growth %	0.07%	0.86%	-0.46%	-8.96%	1.05%	-0.07%	3.52%	-0.38%	-1.79%	12.26%
EBITDA+	1.26M	2.63M	2.73M	179K	2.65M	3.03M	3.67M	3.83M	3.55M	6.98M
EBITDA Margin %	0.02%	0.04%	0.05%	0%	0.04%	0.05%	0.05%	0.05%	0.04%	0.08%
EBITDA Growth %	0.66%	1.09%	0.04%	-0.93%	13.83%	0.14%	0.21%	0.04%	-0.07%	0.96%
D&A (Non-Cash Add-back)	2.56M	2.82M	3M	2.88M	2.52M	2.91M	3.11M	3.48M	3.83M	3.91M
EBIT	-1.02M	95K	5K	-2.41M	133K	1.26M	2.89M	578K	111K	3.08M
Net Interest Income+	-147K	-379K	-699K	-675K	-837K	-1.21M	-1.16M	-1.46M	-2.1M	-2.04M
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	147K	379K	699K	675K	837K	1.21M	1.16M	1.46M	2.1M	2.04M
Other Income/Expense	139K	-98K	-423K	-391K	-508K	-72K	1.18M	-1.23M	-1.71M	-2.03M
Pretax Income+	-1.16M	-284K	-694K	-3.09M	-375K	52K	1.74M	-886K	-1.99M	1.04M
Pretax Margin %	-0.02%	-0%	-0.01%	-0.05%	-0.01%	0%	0.02%	-0.01%	-0.02%	0.01%
Income Tax+	59K	125K	122K	167K	160K	98K	89K	94K	57K	90K
Effective Tax Rate %	0.61%	0.24%	0.44%	0.37%	1.21%	0.27%	1.14%	0.66%	0.89%	1.26%
Net Income+	-712K	-69K	-307K	-1.14M	-455K	14K	1.97M	-583K	-1.77M	1.32M
Net Margin %	-0.01%	-0%	-0.01%	-0.02%	-0.01%	0%	0.03%	-0.01%	-0.02%	0.02%
Net Income Growth %	0.34%	0.9%	-3.45%	-2.73%	0.6%	1.03%	139.79%	-1.3%	-2.04%	1.74%
Net Income (Continuing)	-1.22M	-409K	-816K	-3.26M	-535K	-46K	1.65M	-980K	-2.04M	952K
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	2.98M	2.63M	2.13M	14K	-66K	-126K	-92K	-347K	-616K	-982K
EPS (Diluted)+	-0.19	-0.02	-0.08	-0.30	-0.14	0.00	0.51	-0.15	-0.46	0.34
EPS Growth %	0.32%	0.9%	-3.46%	-2.72%	0.53%	1.03%	-	-1.29%	-2.07%	1.74%
EPS (Basic)	-0.19	-0.02	-0.08	-0.30	-0.14	0.00	0.51	-0.15	-0.46	0.34
Diluted Shares Outstanding	3.8M	3.8M	3.8M	3.81M	3.88M	3.88M	3.9M	3.9M	3.9M	3.9M
Basic Shares Outstanding	3.8M	3.8M	3.8M	3.81M	3.88M	3.88M	3.9M	3.9M	3.9M	3.9M
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+	12.79M	14.92M	12.91M	15.63M	15.61M	15.26M	15.97M	16.09M	14.04M	14.56M
Cash & Short-Term Investments	1.81M	2.3M	1.02M	1.41M	1.45M	4.21M	3.25M	1.62M	1.19M	2.8M
Cash Only	1.81M	2.3M	1.02M	1.41M	1.45M	4.21M	3.25M	1.62M	1.19M	2.8M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	9.61M	11.35M	10.49M	12.75M	12.61M	9.33M	10.51M	11.73M	10.07M	9.18M
Days Sales Outstanding	66.08	67.52	68.53	74.78	67.34	57.99	54.51	52.72	45.63	39.97
Inventory	830K	773K	850K	820K	813K	910K	1.1M	1.46M	1.66M	1.56M
Days Inventory Outstanding	6.85	5.58	6.95	6.01	5.27	7.06	7.1	7.93	9.09	8.54
Other Current Assets	45K	35K	34K	31K	15K	80K	105K	105K	14K	15K
Total Non-Current Assets+	49.51M	52.98M	52.47M	49.14M	63.55M	62.69M	62.07M	73.66M	73.92M	71.63M
Property, Plant & Equipment	49.43M	50.01M	49.58M	48.6M	56.32M	58.76M	60.33M	63.19M	63.61M	62.61M
Fixed Asset Turnover	1.07x	1.23x	1.13x	1.28x	1.21x	1.00x	1.17x	1.28x	1.27x	1.34x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	0	2.9M	2.83M	502K	0	0	0	0	0	0
Other Non-Current Assets	78K	2.97M	2.89M	529K	7.22M	3.92M	1.73M	10.46M	10.3M	8.99M
Total Assets+	62.3M	67.9M	65.38M	64.77M	79.16M	77.95M	78.04M	89.75M	87.97M	86.19M
Asset Turnover	0.85x	0.90x	0.85x	0.96x	0.86x	0.75x	0.90x	0.90x	0.92x	0.97x
Asset Growth %	0.08%	0.09%	-0.04%	-0.01%	0.22%	-0.02%	0%	0.15%	-0.02%	-0.02%
Total Current Liabilities+	12.15M	14.68M	13.1M	16.32M	19.02M	17.18M	18.02M	18.86M	17.91M	15.46M
Accounts Payable	8.02M	9.39M	7.83M	10.45M	11.72M	9.1M	10.16M	10.99M	9.66M	7.12M
Days Payables Outstanding	66.25	67.82	63.99	76.63	76.01	70.62	65.28	59.7	52.82	39.02
Short-Term Debt	0	517K	547K	578K	1.01M	1.59M	1.13M	503K	538K	575K
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	1.05M	1.21M	1.03M	698K	839K	1.12M	1.26M	1.54M	1.82M	2.02M
Current Ratio	1.05x	1.02x	0.98x	0.96x	0.82x	0.89x	0.89x	0.85x	0.78x	0.94x
Quick Ratio	0.98x	0.96x	0.92x	0.91x	0.78x	0.84x	0.82x	0.78x	0.69x	0.84x
Cash Conversion Cycle	6.69	5.28	11.48	4.17	-3.4	-5.57	-3.67	0.95	1.9	9.5
Total Non-Current Liabilities+	8.4M	11.85M	11.7M	10.96M	23.18M	23.8M	21.04M	32.75M	33.96M	33.67M
Long-Term Debt	7.97M	11.29M	10.74M	10.17M	21.57M	21.94M	19.38M	31.31M	32.42M	31.85M
Capital Lease Obligations	274K	452K	857K	688K	1.51M	1.76M	1.56M	1.34M	1.44M	1.73M
Deferred Tax Liabilities	2.48M	2.64M	1.75M	1.47M	0	0	0	0	0	0
Other Non-Current Liabilities	100K	100K	100K	100K	100K	100K	100K	100K	100K	100K
Total Liabilities	20.55M	26.52M	24.81M	27.28M	42.2M	40.98M	39.06M	51.61M	51.87M	49.13M
Total Debt+	8.31M	12.38M	12.36M	11.67M	24.9M	26.16M	22.76M	33.69M	35.02M	34.71M
Net Debt	6.49M	10.08M	11.34M	10.26M	23.45M	21.95M	19.51M	32.07M	33.84M	31.91M
Debt / Equity	0.20x	0.30x	0.30x	0.31x	0.67x	0.71x	0.58x	0.88x	0.97x	0.94x
Debt / EBITDA	6.60x	4.71x	4.54x	65.19x	9.38x	8.62x	6.20x	8.80x	9.86x	4.97x
Net Debt / EBITDA	5.16x	3.83x	4.16x	57.34x	8.83x	7.24x	5.31x	8.37x	9.52x	4.57x
Interest Coverage	-8.86x	-0.49x	-0.39x	-4.00x	0.16x	0.10x	0.48x	0.24x	-0.13x	1.51x
Total Equity+	41.76M	41.38M	40.57M	37.49M	36.96M	36.97M	38.98M	38.14M	36.1M	37.05M
Equity Growth %	-0.03%	-0.01%	-0.02%	-0.08%	-0.01%	0%	0.05%	-0.02%	-0.05%	0.03%
Book Value per Share	10.98	10.88	10.67	9.83	9.54	9.54	10.00	9.78	9.26	9.50
Total Shareholders' Equity	38.78M	38.74M	38.45M	37.48M	37.03M	37.09M	39.07M	38.49M	36.72M	38.03M
Common Stock	38K	38K	38K	39K	39K	39K	39K	39K	39K	39K
Retained Earnings	-20.18M	-20.25M	-20.56M	-21.7M	-22.16M	-22.14M	-20.17M	-20.75M	-22.53M	-21.21M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-21.54M	-20M	-27.04M	-27.25M	0	0	0	0	0	0
Minority Interest	2.98M	2.63M	2.13M	14K	-66K	-126K	-92K	-347K	-616K	-982K

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+	1.89M	2.59M	1.25M	3.06M	3.15M	2.57M	2.36M	2.26M	2.35M	3.37M
Operating CF Margin %	0.04%	0.04%	0.02%	0.05%	0.05%	0.04%	0.03%	0.03%	0.03%	0.04%
Operating CF Growth %	34.02%	0.37%	-0.52%	1.45%	0.03%	-0.18%	-0.08%	-0.04%	0.04%	0.43%
Net Income	-1.22M	-409K	-816K	-3.26M	-535K	-46K	1.65M	-980K	-1.77M	952K
Depreciation & Amortization	2.56M	2.82M	3M	2.88M	2.52M	2.91M	3.11M	3.48M	3.83M	3.91M
Stock-Based Compensation	56K	29K	12K	6K	6K	6K	5K	4K	1K	0
Deferred Taxes	85K	115K	6K	3.29M	-12K	-799K	-1.94M	0	0	-19K
Other Non-Cash Items	-88K	-71K	-28K	27K	31K	42K	42K	82K	-153K	117K
Working Capital Changes	500K	107K	-922K	116K	1.14M	459K	-505K	-330K	456K	-1.58M
Change in Receivables	-914K	-1.89M	857K	-2.33M	155K	3.24M	-1.22M	-1.25M	1.6M	825K
Change in Inventory	117K	57K	-77K	30K	7K	-97K	-195K	-356K	-201K	104K
Change in Payables	1.32M	1.24M	-1.56M	1.97M	675K	-2.77M	796K	663K	-1.36M	-2.75M
Cash from Investing+	-8.52M	-3M	-1.71M	-4.38M	-7.2M	-4.51M	-4.42M	-6.39M	-3.9M	-2.25M
Capital Expenditures	-8.52M	-3M	-1.79M	-4.41M	-7.25M	-4.55M	-4.42M	-6.39M	-3.9M	-2.25M
CapEx % of Revenue	0.16%	0.05%	0.03%	0.07%	0.11%	0.08%	0.06%	0.08%	0.05%	0.03%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	0	79K	1.3M	90K	0	0	0	0	7K
Cash from Financing+	4.12M	896K	-812K	-622K	10.78M	1.4M	-1.09M	11.23M	944K	-818K
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	-3.06M	-42K	166K	-290K	0	0	-277K	0	0
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-6.63M	-411K	-541K	-1.35M	-4.1M	-1.98M	-2.06M	-4.13M	-1.54M	1.12M
FCF Margin %	-0.12%	-0.01%	-0.01%	-0.02%	-0.06%	-0.03%	-0.03%	-0.05%	-0.02%	0.01%
FCF Growth %	0.02%	0.94%	-0.32%	-1.49%	-2.04%	0.52%	-0.04%	-1.01%	0.63%	1.73%
FCF per Share	-1.74	-0.11	-0.14	-0.35	-1.06	-0.51	-0.53	-1.06	-0.40	0.29
FCF Conversion (FCF/Net Income)	-2.66x	-37.49x	-4.07x	-2.67x	-6.92x	183.64x	1.20x	-3.87x	-1.33x	2.56x
Interest Paid	244K	362K	677K	648K	790K	1.16M	1.13M	1.31M	2.01M	2.18M
Taxes Paid	94K	54K	144K	109K	151K	148K	65K	58K	162K	34K

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-1.68%	-0.17%	-0.75%	-2.93%	-1.22%	0.04%	5.19%	-1.51%	-4.78%	3.6%
Return on Invested Capital (ROIC)	-2.15%	-0.28%	-0.39%	-4.06%	0.18%	0.16%	0.72%	0.4%	-0.29%	3.32%
Gross Margin	16.75%	17.66%	20.01%	19.99%	17.68%	19.93%	19.25%	17.2%	17.11%	20.56%
Net Margin	-1.34%	-0.11%	-0.55%	-1.84%	-0.67%	0.02%	2.8%	-0.72%	-2.2%	1.57%
Debt / Equity	0.20x	0.30x	0.30x	0.31x	0.67x	0.71x	0.58x	0.88x	0.97x	0.94x
Interest Coverage	-8.86x	-0.49x	-0.39x	-4.00x	0.16x	0.10x	0.48x	0.24x	-0.13x	1.51x
FCF Conversion	-2.66x	-37.49x	-4.07x	-2.67x	-6.92x	183.64x	1.20x	-3.87x	-1.33x	2.56x
Revenue Growth	3.14%	15.56%	-8.97%	11.43%	9.84%	-14.1%	19.86%	15.34%	-0.82%	4.07%

Revenue by Segment

	2014	2015	2018	2019	2020	2021	2022	2023	2024
Waste Management Services	38.6M	38.28M	-	-	-	-	-	44.61M	45.92M
Waste Management Services Growth	-	-0.84%	-	-	-	-	-	-	2.94%
Golf and Related Operations	-	-	-	-	-	-	-	35.98M	37.87M
Golf and Related Operations Growth	-	-	-	-	-	-	-	-	5.25%
Customer Advance Deposits	-	-	1.48M	-1.44M	796K	1.83M	2.87M	-	-
Customer Advance Deposits Growth	-	-	-	-197.04%	155.28%	130.15%	56.55%	-	-
Golf And Related Operations	12.87M	14.81M	-	-	-	-	-	-	-
Golf And Related Operations Growth	-	15.10%	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Avalon Holdings Corporation (AWX) has a price-to-earnings (P/E) ratio of 7.9x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Avalon Holdings Corporation (AWX) reported $79.7M in revenue for fiscal year 2024. This represents a 48% increase from $54.0M in 2011.

Avalon Holdings Corporation (AWX) grew revenue by 4.1% over the past year. Growth has been modest.

Yes, Avalon Holdings Corporation (AWX) is profitable, generating $0.2M in net income for fiscal year 2024 (1.6% net margin).

Dividend & Returns

Avalon Holdings Corporation (AWX) has a return on equity (ROE) of 3.6%. This is below average, suggesting room for improvement.

Avalon Holdings Corporation (AWX) generated $1.1M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.