TakeoverPE & activists

AVAAVISTA CORP

Electric & Other Services Combined · $3.1B market cap

1.6×

More likely than average to be taken private

Top 9% of the Russell 3000 for a buyout by a private-equity firm, holdco or insiders. How it works

Takeover signals

What an activist or buyer would see: cheap, overpaid, diluted or under pressure.

2of 15 firedHow well they predict deals →
13 other checks
  • TSR below peersNo
    —
    3+ of last 5 years
  • High CEO pay despite TSRNo
    —
    Median CEO pay ≥ $15M while TSR trails
  • Earnings not backed by cashNo
    243% of net income
    Cash flow under 80% of net income
  • Dilutive SBCNo
    0% of revenue
    Over 10% of revenue
  • Payouts exceed cash flowNo
    34% of cash flow
    Buybacks + dividends over cash flow
  • Goodwill-heavyNo
    1% of assets
    Over 40% of assets
  • Shareholder dissentNo
    —
    Any vote under 80% support
  • Low revenue per employeeNo
    —
    Bottom quartile of its SIC industry
  • Quiet on AINo
    1.7 per 10K words · 51st pct
    Bottom quartile of AI mentions in 10-Ks
  • Net cashNo
    2.8× EBITDA net debt
    More cash than debt, positive EBITDA
  • AI-rollup shapedNo
    0 of 10
    10-K business scored 5+ of 10 as an AI-rollup target
  • Active 13DNo
    0 filings
    Active-intent 13D in 18 months
  • Net insider sellingNo
    −$693K net
    Net sales over $10M in 12 months

Deal filings

FiledFormAcquirerPricePremium
Oct 2, 2017DEFM14AHydro One Limited$53.0024%
Sep 14, 2017PREM14AHydro One Limited$53.0024%

Key numbers

Revenue
$2.0BFY2021: $1.4BFY2022: $1.7BFY2023: $1.8BFY2024: $1.9BFY2025: $2.0B
1.3% YoY
Operating margin
18.0%FY2021: 15.9%FY2022: 11.1%FY2023: 14.7%FY2024: 15.8%FY2025: 18.0%
14% YoY
EBITDA
$643MFY2021: $460MFY2022: $443MFY2023: $523MFY2024: $580MFY2025: $643M
11% YoY
Net debt / EBITDA
2.8×
$1.8B net debt

Financials

MetricFY2021FY2022FY2023FY2024FY2025YoYTrend
Revenue$1.4B$1.7B$1.8B$1.9B$2.0B 1.3% FY2021: $1.4BFY2022: $1.7BFY2023: $1.8BFY2024: $1.9BFY2025: $2.0B
Operating income$228M$190M$258M$306M$354M 16% FY2021: $228MFY2022: $190MFY2023: $258MFY2024: $306MFY2025: $354M
Net income$147M$155M$171M$180M$193M 7.2% FY2021: $147MFY2022: $155MFY2023: $171MFY2024: $180MFY2025: $193M
Operating cash flow$267M$124M$447M$534M$469M 12% FY2021: $267MFY2022: $124MFY2023: $447MFY2024: $534MFY2025: $469M
Capex$440M$452M$499M$533M$570M 6.9% FY2021: $440MFY2022: $452MFY2023: $499MFY2024: $533MFY2025: $570M
Stock-based comp$5M$9M$8M$9M$9M 0.0% FY2021: $5MFY2022: $9MFY2023: $8MFY2024: $9MFY2025: $9M
Dividends$118M$129M$141M$150M$159M 6.0% FY2021: $118MFY2022: $129MFY2023: $141MFY2024: $150MFY2025: $159M

13D filers

None on file.

Insider trading

−$693Knet selling by insiders, open market, last 12 months
Bought $0 · 0 tradesSold $693K · 8 trades

Pay vs performance

No pay-versus-performance disclosure yet.