Aveanna Healthcare Holdings, Inc. Financials

AVAH

Source SEC Filings (10-K/10-Q) Updated Sep 27, 2025 Currency USD FYE December

Financial Health Signals

Altman Z-Score Distress

0.88

Aveanna Healthcare Holdings, Inc. scores 0.88, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($1.7B) relative to total liabilities ($1.8B). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Piotroski F-Score Neutral

6/9

Aveanna Healthcare Holdings, Inc. passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Mixed

-2.99x

For every $1 of reported earnings, Aveanna Healthcare Holdings, Inc. generates $-2.99 in operating cash flow ($32.6M OCF vs -$10.9M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage At Risk

0.9x

Aveanna Healthcare Holdings, Inc. earns $0.9 in operating income for every $1 of interest expense ($139.8M vs $156.6M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

This page shows Aveanna Healthcare Holdings, Inc. (AVAH) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 5 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

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Key Financial Metrics

Revenue

$2.0B

YoY+6.8%

Aveanna Healthcare Holdings, Inc. generated $2.0B in revenue in fiscal year 2024. This represents an increase of 6.8% from the prior year.

EBITDA

$150.6M

YoY+589.1%

Aveanna Healthcare Holdings, Inc.'s EBITDA was $150.6M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 589.1% from the prior year.

Free Cash Flow

N/A

Net Income

-$10.9M

YoY+91.9%

Aveanna Healthcare Holdings, Inc. reported -$10.9M in net income in fiscal year 2024. This represents an increase of 91.9% from the prior year.

EPS (Diluted)

$-0.06

YoY+91.5%

Aveanna Healthcare Holdings, Inc. earned $-0.06 per diluted share (EPS) in fiscal year 2024. This represents an increase of 91.5% from the prior year.

Cash & Debt

$84.3M

YoY+91.8%

Aveanna Healthcare Holdings, Inc. held $84.3M in cash against $1.3B in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

193M

YoY+1.3%

Aveanna Healthcare Holdings, Inc. had 193M shares outstanding in fiscal year 2024. This represents an increase of 1.3% from the prior year.

Gross Margin

31.4%

YoY-0.0pp

Aveanna Healthcare Holdings, Inc.'s gross margin was 31.4% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is down 0.0 percentage points from the prior year.

Operating Margin

6.9%

YoY+6.5pp

Aveanna Healthcare Holdings, Inc.'s operating margin was 6.9% in fiscal year 2024, reflecting core business profitability. This is up 6.5 percentage points from the prior year.

Net Margin

-0.5%

YoY+6.6pp

Aveanna Healthcare Holdings, Inc.'s net profit margin was -0.5% in fiscal year 2024, showing the share of revenue converted to profit. This is up 6.6 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

AVAH Income Statement

Metric	FY24	FY23	FY22	FY21	FY19
Revenue	$2.0B+6.8%	$1.9B+6.0%	$1.8B+19.6%	$1.5B+8.0%	$1.4B
Cost of Revenue	$1.4B+6.9%	$1.3B+5.3%	$1.2B+18.6%	$1.0B+7.9%	$964.8M
Gross Profit	$635.5M+6.7%	$595.4M+7.6%	$553.2M+21.7%	$454.5M+8.4%	$419.3M
R&D Expenses	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$352.8M-2.3%	$361.0M+1.0%	$357.2M+48.3%	$240.9M+5.8%	$227.8M
Operating Income	$139.8M+1631.8%	$8.1M+101.3%	-$642.3M-18319.2%	-$3.5M-109.0%	$39.0M
Interest Expense	$156.6M+2.2%	$153.2M+42.3%	$107.7M+29.8%	$83.0M-10.1%	$92.3M
Income Tax	$16.0M+457.8%	-$4.5M-151.2%	-$1.8M-133.5%	$5.3M+257.7%	$1.5M
Net Income	-$10.9M+91.9%	-$134.5M+79.7%	-$662.0M-1060.4%	-$57.0M+25.4%	-$76.5M
EPS (Diluted)	$-0.06+91.5%	$-0.71+80.1%	$-3.57	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	$621.9M+5.5%	$589.6M+5.4%	$559.2M+7.6%	$519.9M+3.0%	$505.0M+2.9%	$490.7M+2.5%	$478.8M+0.2%	$478.0M
Cost of Revenue	$419.1M+10.7%	$378.8M+0.8%	$375.7M+7.9%	$348.1M+0.4%	$346.7M+0.5%	$344.8M+4.4%	$330.4M-0.1%	$330.7M
Gross Profit	$202.8M-3.8%	$210.8M+14.8%	$183.6M+6.9%	$171.7M+8.5%	$158.3M+8.5%	$145.9M-1.7%	$148.4M+0.8%	$147.3M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$95.4M+5.9%	$90.1M-1.4%	$91.4M+3.0%	$88.7M+0.9%	$88.0M+0.1%	$87.9M+1.0%	$87.0M-4.4%	$91.0M
Operating Income	$53.6M-33.0%	$80.0M+54.5%	$51.8M+13.2%	$45.8M+23.3%	$37.1M+62.4%	$22.9M-21.9%	$29.3M+138.4%	-$76.4M
Interest Expense	$35.1M-2.4%	$36.0M-0.9%	$36.3M-4.6%	$38.1M-3.8%	$39.6M-0.1%	$39.6M-0.1%	$39.7M+0.3%	$39.6M
Income Tax	-$647K-103.8%	$17.1M+245.4%	$5.0M+320.7%	-$2.2M+77.4%	-$9.9M-178.4%	$12.7M+316.1%	-$5.9M-1028.5%	$631K
Net Income	$14.1M-48.0%	$27.0M+420.4%	$5.2M-82.2%	$29.2M+109.8%	$13.9M+224.5%	-$11.2M+56.6%	-$25.7M+74.9%	-$102.4M
EPS (Diluted)	$0.06-53.8%	$0.13+333.3%	$0.03-80.0%	$0.15+114.3%	$0.07+216.7%	$-0.06+53.8%	$-0.13+75.9%	$-0.54

AVAH Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY19
Total Assets	$1.7B+3.1%	$1.6B-5.8%	$1.7B-4.8%	$1.8B	N/A
Current Assets	$392.7M+24.7%	$314.9M+16.7%	$269.8M-8.0%	$293.2M	N/A
Cash & Equivalents	$84.3M+91.8%	$43.9M+128.7%	$19.2M-71.4%	$67.1M	N/A
Inventory	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$265.2M+12.1%	$236.6M+6.9%	$221.2M+13.0%	$195.7M	N/A
Goodwill	$1.1B0.0%	$1.1B-9.1%	$1.2B-12.0%	$1.3B+7.4%	$1.2B
Total Liabilities	$1.8B+2.6%	$1.7B+1.4%	$1.7B+12.6%	$1.5B	N/A
Current Liabilities	$402.2M+13.4%	$354.8M+8.7%	$326.5M+57.4%	$207.5M	N/A
Long-Term Debt	$1.3B-0.4%	$1.3B-0.4%	$1.3B+10.1%	$1.2B	N/A
Total Equity	-$123.6M+4.6%	-$129.6M-1953.4%	-$6.3M-102.3%	$271.5M+0.5%	$270.2M
Retained Earnings	-$1.4B-0.8%	-$1.4B-10.9%	-$1.2B-173.7%	-$451.8M	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$1.8B+2.2%	$1.8B+6.6%	$1.7B-0.2%	$1.7B-0.1%	$1.7B+1.3%	$1.6B+1.9%	$1.6B-2.5%	$1.7B
Current Assets	$502.6M+11.7%	$449.9M+10.4%	$407.6M+3.8%	$392.7M+7.9%	$364.0M+8.3%	$336.0M+6.7%	$314.9M-1.1%	$318.2M
Cash & Equivalents	$145.9M+44.8%	$100.7M+40.9%	$71.5M-15.2%	$84.3M+76.8%	$47.7M+11.9%	$42.6M-3.0%	$43.9M-9.0%	$48.3M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$312.8M-1.1%	$316.3M+7.3%	$294.8M+11.2%	$265.2M-2.8%	$273.0M+6.0%	$257.5M+8.9%	$236.6M+0.4%	$235.7M
Goodwill	$1.1B-0.2%	$1.1B+6.1%	$1.1B0.0%	$1.1B0.0%	$1.1B0.0%	$1.1B0.0%	$1.1B0.0%	$1.1B
Total Liabilities	$1.8B+1.0%	$1.8B+1.3%	$1.8B-1.5%	$1.8B+0.2%	$1.8B+0.3%	$1.8B+2.1%	$1.7B-1.0%	$1.8B
Current Liabilities	$409.7M-1.1%	$414.2M+6.7%	$388.3M-3.4%	$402.2M+3.3%	$389.1M+1.9%	$381.9M+7.7%	$354.8M-2.6%	$364.3M
Long-Term Debt	$1.3B+1.6%	$1.3B-0.1%	$1.3B-0.1%	$1.3B-0.2%	$1.3B-0.1%	$1.3B-0.1%	$1.3B-0.1%	$1.3B
Total Equity	$9.2M+176.6%	-$12.0M+88.0%	-$100.1M+19.0%	-$123.6M-3.9%	-$119.0M+12.7%	-$136.3M-5.2%	-$129.6M-22.6%	-$105.7M
Retained Earnings	-$1.3B+1.0%	-$1.3B+2.0%	-$1.4B+0.4%	-$1.4B-1.0%	-$1.4B+1.0%	-$1.4B-0.8%	-$1.4B-1.9%	-$1.3B

AVAH Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY19
Operating Cash Flow	$32.6M+44.0%	$22.7M+146.8%	-$48.4M-141.5%	$116.6M+1438.3%	-$8.7M
Capital Expenditures	N/A	N/A	$15.9M+4.7%	$15.2M-8.4%	$16.6M
Free Cash Flow	N/A	N/A	-$27.3M-126.9%	$101.4M+499.9%	-$25.4M
Investing Cash Flow	-$6.3M+28.1%	-$8.8M+65.2%	-$25.3M+86.9%	-$193.5M-985.9%	-$17.8M
Financing Cash Flow	$14.0M+29.3%	$10.8M-82.6%	$62.4M-70.4%	$210.9M+864.8%	$21.9M
Dividends Paid	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	$33.2M-35.6%	$51.6M+697.4%	-$8.6M-164.4%	$13.4M+641.1%	$1.8M+115.1%	-$12.0M-298.4%	-$3.0M-110.5%	$28.7M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$2.0M+87.4%	-$16.0M-580.7%	-$2.3M-53.6%	-$1.5M-20.5%	-$1.3M+3.0%	-$1.3M+16.6%	-$1.6M-39.1%	-$1.1M
Financing Cash Flow	$13.9M+319.9%	-$6.3M-249.7%	-$1.8M+70.0%	-$6.1M-234.0%	$4.5M-62.2%	$11.9M+5305.0%	$221K+103.0%	-$7.3M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

AVAH Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY19
Gross Margin	31.4%-0.0pp	31.4%+0.5pp	30.9%+0.6pp	30.4%+0.1pp	30.3%
Operating Margin	6.9%+6.5pp	0.4%+36.4pp	-35.9%-35.7pp	-0.2%-3.0pp	2.8%
Net Margin	-0.5%+6.6pp	-7.1%+29.9pp	-37.0%-33.2pp	-3.8%+1.7pp	-5.5%
Return on Equity	N/A	N/A	N/A	N/A	N/A
Return on Assets	-0.7%+7.7pp	-8.3%+30.3pp	-38.7%-35.5pp	-3.2%	N/A
Current Ratio	0.98+0.1	0.89+0.1	0.83-0.6	1.41	N/A
Debt-to-Equity	-10.29-0.4	-9.85+193.2	-203.02-207.3	4.28	N/A
FCF Margin	N/A	N/A	-1.6%-8.4pp	6.8%+8.6pp	-1.8%

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Gross Margin	32.6%-3.1pp	35.8%+2.9pp	32.8%-0.2pp	33.0%+1.7pp	31.3%+1.6pp	29.7%-1.3pp	31.0%+0.2pp	30.8%
Operating Margin	8.6%-5.0pp	13.6%+4.3pp	9.3%+0.5pp	8.8%+1.4pp	7.3%+2.7pp	4.7%-1.5pp	6.1%+22.1pp	-16.0%
Net Margin	2.3%-2.3pp	4.6%+3.7pp	0.9%-4.7pp	5.6%+2.9pp	2.8%+5.0pp	-2.3%+3.1pp	-5.4%+16.1pp	-21.4%
Return on Equity	153.1%	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	0.8%-0.8pp	1.5%+1.2pp	0.3%-1.4pp	1.8%+0.9pp	0.8%+1.5pp	-0.7%+0.9pp	-1.6%+4.6pp	-6.2%
Current Ratio	1.23+0.1	1.09+0.0	1.05+0.1	0.98+0.0	0.94+0.1	0.880.0	0.89+0.0	0.87
Debt-to-Equity	140.39+246.2	-105.86-93.2	-12.69-2.4	-10.29+0.4	-10.71-1.4	-9.36+0.5	-9.85+2.2	-12.09
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Note: Shareholder equity is negative (-$123.6M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.

Note: The current ratio is below 1.0 (0.98), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

What is Aveanna Healthcare Holdings, Inc.'s annual revenue?

Aveanna Healthcare Holdings, Inc. (AVAH) reported $2.0B in total revenue for fiscal year 2024. This represents a 6.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Aveanna Healthcare Holdings, Inc.'s revenue growing?

Aveanna Healthcare Holdings, Inc. (AVAH) revenue grew by 6.8% year-over-year, from $1.9B to $2.0B in fiscal year 2024.

Is Aveanna Healthcare Holdings, Inc. profitable?

No, Aveanna Healthcare Holdings, Inc. (AVAH) reported a net income of -$10.9M in fiscal year 2024, with a net profit margin of -0.5%.

What is Aveanna Healthcare Holdings, Inc.'s earnings per share (EPS)?

Aveanna Healthcare Holdings, Inc. (AVAH) reported diluted earnings per share of $-0.06 for fiscal year 2024. This represents a 91.5% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is Aveanna Healthcare Holdings, Inc.'s EBITDA?

Aveanna Healthcare Holdings, Inc. (AVAH) had EBITDA of $150.6M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Aveanna Healthcare Holdings, Inc. have?

As of fiscal year 2024, Aveanna Healthcare Holdings, Inc. (AVAH) had $84.3M in cash and equivalents against $1.3B in long-term debt.

What is Aveanna Healthcare Holdings, Inc.'s gross margin?

Aveanna Healthcare Holdings, Inc. (AVAH) had a gross margin of 31.4% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

What is Aveanna Healthcare Holdings, Inc.'s operating margin?

Aveanna Healthcare Holdings, Inc. (AVAH) had an operating margin of 6.9% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Aveanna Healthcare Holdings, Inc.'s net profit margin?

Aveanna Healthcare Holdings, Inc. (AVAH) had a net profit margin of -0.5% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Aveanna Healthcare Holdings, Inc.'s operating cash flow?

Aveanna Healthcare Holdings, Inc. (AVAH) generated $32.6M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Aveanna Healthcare Holdings, Inc.'s total assets?

Aveanna Healthcare Holdings, Inc. (AVAH) had $1.7B in total assets as of fiscal year 2024, including both current and long-term assets.

How many shares does Aveanna Healthcare Holdings, Inc. have outstanding?

Aveanna Healthcare Holdings, Inc. (AVAH) had 193M shares outstanding as of fiscal year 2024.

What is Aveanna Healthcare Holdings, Inc.'s current ratio?

Aveanna Healthcare Holdings, Inc. (AVAH) had a current ratio of 0.98 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.

What is Aveanna Healthcare Holdings, Inc.'s debt-to-equity ratio?

Aveanna Healthcare Holdings, Inc. (AVAH) had a debt-to-equity ratio of -10.29 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Aveanna Healthcare Holdings, Inc.'s return on assets (ROA)?

Aveanna Healthcare Holdings, Inc. (AVAH) had a return on assets of -0.7% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

Why is Aveanna Healthcare Holdings, Inc.'s debt-to-equity ratio negative or unusual?

Aveanna Healthcare Holdings, Inc. (AVAH) has negative shareholder equity of -$123.6M as of fiscal year 2024, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.

What is Aveanna Healthcare Holdings, Inc.'s Altman Z-Score?

Aveanna Healthcare Holdings, Inc. (AVAH) has an Altman Z-Score of 0.88, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Aveanna Healthcare Holdings, Inc.'s Piotroski F-Score?

Aveanna Healthcare Holdings, Inc. (AVAH) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Aveanna Healthcare Holdings, Inc.'s earnings high quality?

Aveanna Healthcare Holdings, Inc. (AVAH) has an earnings quality ratio of -2.99x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Aveanna Healthcare Holdings, Inc. cover its interest payments?

Aveanna Healthcare Holdings, Inc. (AVAH) has an interest coverage ratio of 0.9x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.