Latest Ratios: P/E Ratio 12.2x · EV/EBITDA 14.2x · ROE 621.9%. (2018–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.8B | $1.7B | $899M | $509M | $145M | $1.4B | — | — | — |
| Enterprise Value | $4.1B | $3.1B | $2.3B | $2.0B | $1.5B | $2.6B | — | — | — |
| P/E Ratio → | 12.18 | 7.70 | — | — | — | — | — | — | — |
| P/S Ratio | 1.14 | 0.71 | 0.44 | 0.27 | 0.08 | 0.81 | — | — | — |
| P/B Ratio | 14.14 | 8.93 | — | — | — | 2.14 | — | — | — |
| P/FCF | 24.26 | 15.13 | 34.15 | 30.75 | — | — | — | — | — |
| P/OCF | 22.78 | 14.21 | 27.54 | 22.45 | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.26 | 1.14 | 1.04 | 0.83 | 1.57 | — | — | — |
| EV / EBITDA | 14.20 | 10.58 | 13.55 | 51.46 | — | — | — | — | — |
| EV / EBIT | 15.47 | 12.19 | 14.83 | 216.55 | — | — | — | — | — |
| EV / FCF | — | 26.64 | 88.02 | 118.65 | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 33.1% | 33.1% | 31.4% | 31.4% | 30.9% | 32.3% | 30.4% | 30.3% | 31.5% |
| Operating Margin | 10.9% | 10.9% | 6.9% | 0.4% | -35.9% | -2.2% | -0.2% | 2.8% | 3.1% |
| Net Profit Margin | 9.2% | 9.2% | -0.5% | -7.1% | -37.0% | -7.0% | -3.8% | -5.5% | -3.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| ROE | 621.9% | 621.9% | — | — | -208.9% | -25.9% | -21.2% | -24.8% | -13.7% |
| ROA | 12.2% | 12.2% | -0.7% | -8.1% | -32.7% | -5.6% | -3.3% | -4.9% | -3.0% |
| ROIC | 14.2% | 14.2% | 8.0% | 0.5% | -29.8% | -1.7% | -0.2% | 2.2% | 2.3% |
| ROCE | 18.5% | 18.5% | 11.1% | 0.6% | -38.1% | -2.0% | -0.2% | 2.8% | 2.9% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 7.79 | 7.79 | — | — | — | 2.04 | 4.60 | 3.98 | 2.76 |
| Debt / EBITDA | 5.24 | 5.24 | 8.79 | 39.28 | — | — | 45.94 | 16.37 | 18.69 |
| Net Debt / Equity | — | 6.79 | — | — | — | 1.99 | 4.08 | 3.97 | 2.74 |
| Net Debt / EBITDA | 4.57 | 4.57 | 8.29 | 38.13 | — | — | 40.81 | 16.32 | 18.53 |
| Debt / FCF | — | 11.51 | 53.87 | 87.90 | — | — | 10.76 | — | 468.24 |
| Interest Coverage | 1.79 | 1.79 | 1.00 | 0.06 | -5.23 | -0.77 | 0.38 | 0.19 | 0.34 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.32 | 1.32 | 0.98 | 0.89 | 0.83 | 0.81 | 1.31 | 1.11 | 1.08 |
| Quick Ratio | 1.32 | 1.32 | 0.98 | 0.89 | 0.83 | 0.81 | 1.31 | 1.11 | 1.08 |
| Cash Ratio | 0.46 | 0.46 | 0.21 | 0.12 | 0.06 | 0.09 | 0.53 | 0.02 | 0.04 |
| Asset Turnover | — | 1.20 | 1.22 | 1.17 | 1.04 | 0.72 | 0.81 | 0.88 | 0.81 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 47.01 | 50.06 | 47.34 | 46.07 | 48.99 | 44.16 | 43.33 | 53.12 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 8.2% | 13.0% | — | — | — | — | — | — | — |
| FCF Yield | 4.1% | 6.6% | 2.9% | 3.3% | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — |
| Shares Outstanding | — | $215M | $193M | $190M | $186M | $185M | $186M | $186M | $180M |
Includes 30+ ratios · 8 years · Updated daily
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Quick answers to the most common questions about buying AVAH stock.
Aveanna Healthcare Holdings Inc.'s current P/E ratio is 12.2x. The historical average is 7.7x. This places it at the 100th percentile of its historical range.
Aveanna Healthcare Holdings Inc.'s current EV/EBITDA is 14.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 25.2x.
Aveanna Healthcare Holdings Inc.'s return on equity (ROE) is 621.9%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is -58.9%.
Based on historical data, Aveanna Healthcare Holdings Inc. is trading at a P/E of 12.2x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Aveanna Healthcare Holdings Inc. has 33.1% gross margin and 10.9% operating margin. Operating margin between 10-20% is typical for established companies.
Aveanna Healthcare Holdings Inc.'s Debt/EBITDA ratio is 5.2x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
Elevated leverage and margin pressure
Metrics are mathematically derived from official filings.
Valuation Reflects Growth, Ignores Leverage
Aveanna's forward P/E of 23.13 and EV/EBITDA of 13.10 appear to price in its accelerating revenue growth, yet the valuation discount to peers like Pennant Group (EV/EBITDA 28.60) suggests the market is heavily discounting its complex capital structure and elevated leverage.
The current forward EV/EBITDA of 13.10 is roughly in line with Addus HomeCare's 14.63, but this comparison is misleading given Aveanna's significantly higher debt load. The P/B ratio of 14.84 is inflated by a relatively small equity base, making it an unreliable metric for this company. The valuation appears to be a tug-of-war between the company's strong top-line growth trajectory and the market's persistent concern over its balance sheet risk.
Margin Expansion Driven by SG&A Discipline
Operating margin has expanded to 11.9% in 2026Q2 from a low of 4.7% in 2024Q1, a trend primarily fueled by a reduction in SG&A expenses as a percentage of revenue rather than structural improvement in the core gross margin.
The gross margin has stabilized in the 31-33% range, indicating the company is managing the nurse wage-to-reimbursement spread but not expanding it. The recent net margin compression to 6.0% from 27.0% in 2025Q4 highlights the significant impact of non-operating items, likely related to debt servicing or one-time charges, which obscures the true underlying earning power of the clinical operations.
ROIC Remains Below Cost of Capital
Despite a dramatic swing in ROE to 15.3% in 2026Q2 from negative levels, the company's ROIC has only recovered to 3.7%, a level that appears insufficient to cover its weighted average cost of capital and suggests value destruction on a risk-adjusted basis.
The extreme volatility in ROE, which hit 174.9% in 2025Q4, is a function of the company's highly leveraged and occasionally negative equity base, making it an unreliable indicator of performance. The more meaningful ROIC metric shows a slow recovery from 1.5% in 2024Q1, but its persistent sub-5% level indicates that the capital invested in the business, including goodwill from acquisitions, is not generating adequate returns.
Debt Burden Constrains Financial Flexibility
The debt-to-equity ratio of 5.24 and a D/EBITDA of 18.17 in 2026Q2 indicate a heavily leveraged balance sheet, where interest coverage of 3.03x, while improved, remains vulnerable to any operational misstep or rise in interest rates.
The leverage profile has improved from the extreme levels seen in 2025Q3 (D/E of 135.67), but the absolute debt load of approximately $1.5B continues to dominate the capital structure. The interest coverage ratio, while now above 3x, has been as low as 0.30x in 2024Q3, demonstrating the historical fragility of the company's ability to service its debt from operating earnings.
Liquidity Position is Tenuous but Improving
The current ratio has recovered to 1.16 in 2026Q2 from a low of 0.88 in 2024Q1, but the quick ratio being identical to the current ratio reveals a complete lack of inventory, making the company entirely dependent on cash flow timing to meet short-term obligations.
The improvement in liquidity is a positive sign, but the position remains thin for a business with significant weekly payroll obligations. The absence of inventory means there is no liquidation buffer; any disruption to the revenue cycle, such as delays in Medicaid reimbursements, could immediately pressure the company's ability to cover its near-term liabilities.
The Misleading Power of ROE
The most commonly misapplied ratio for Aveanna is Return on Equity (ROE), which is rendered meaningless by its volatile and occasionally negative equity base, leading to extreme and misleading readings like 621.9% that obscure the company's true, subpar return on invested capital.
Analysts often cite ROE as a primary profitability metric, but for Aveanna, it is a function of financial engineering and accounting artifacts rather than operational excellence. The ratio swings wildly based on retained earnings and potential equity adjustments, while the more stable ROIC of 3.7% provides a far more accurate picture of the returns generated on the total capital employed in the business.