AVAHAveanna Healthcare Holdings, Inc.
Services-Home Health Care Services
- Revenue
- $2.4B
- 20% YoY
- Operating margin
- 10.5%
- 53% YoY
- EBITDA
- $267M
- 77% YoY
- Market cap
- $2.9B
- Employees
- 32,000
- $76K revenue each
- Net debt / EBITDA
- 4.5×
- $1.2B net debt
- AI in 10-K
- 2.2
- mentions per 10K words
Takeover score 4 of 13
Fixable underperformance 1 of 7
- TSR below peersNo—3+ of last 5 years
- High CEO pay despite TSRNo$5M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo559× net incomeCash flow under 80% of net income
- Dilutive SBCNo1% of revenueOver 10% of revenue
- Payouts exceed cash flowNo0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyYes61% of assetsOver 40% of assets
- Shareholder dissentNo84% lowest supportAny vote under 80% support
Buyer economics 2 of 4
- Low revenue per employeeYes$76K · 5th pctBottom quartile of its SIC industry
- Quiet on AINo2.2 per 10K words · 59th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo4.5× EBITDA net debtMore cash than debt, positive EBITDA
- Buyout-sizedYes$2.9B market capMarket cap $500M–$5B
Catalysts 1 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingYes−$782M netNet sales over $10M in 12 months
Financials
| Metric | FY2022 | FY2023 | FY2024 | FY2026 | YoY |
|---|---|---|---|---|---|
| Revenue | $1.8B | $1.9B | $2.0B | $2.4B | 20% |
| Operating income | −$642M | $8M | $140M | $256M | 83% |
| Net income | −$662M | −$135K | −$11K | $225K | 2159% |
| Operating cash flow | −$48M | $23M | $33M | $126M | 286% |
| Capex | $16M | — | — | — | |
| Stock-based comp | $16M | $13M | $17M | $25M | 43% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $782M · 71
- Net
- −$782M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2026 | $5M | $18M | 1036 | — |
| FY2024 | $5M | $11M | 597 | — |
| FY2023 | $3M | $6M | 344 | — |