Avalon Holdings Corporation (AWX) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+31.3%

$3.39

vs $2.58 price

Levered DCF

$1.96

After debt service

Piotroski score

8 / 9

Strong

Altman Z-score

0.88

Distress zone

Rating

B+

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	32.69×	11.38×	-5.2×	-18.33×	7.08×	722.22×	-13.71×	-8.83×
P/B	0.27×	0.4×	0.25×	0.28×	0.36×	0.27×	0.2×	0.27×
P/S	0.13×	0.18×	0.12×	0.13×	0.2×	0.17×	0.11×	0.16×
EV / EBITDA	7.07×	6.73×	10.96×	10.54×	5.59×	7.68×	11.64×	43.99×
Gross margin	15.0%	20.6%	17.1%	17.2%	19.3%	19.9%	17.7%	20.0%
Operating margin	2.4%	3.7%	-0.3%	0.4%	0.8%	0.2%	0.2%	-4.3%
Net margin	0.4%	1.6%	-2.2%	-0.7%	2.8%	0.0%	-0.7%	-1.8%
Current ratio	1.01×	0.94×	0.78×	0.85×	0.89×	0.89×	0.82×	0.96×
Debt / equity	0.91×	0.91×	0.95×	0.88×	0.58×	0.71×	0.67×	0.31×
Interest coverage	0.99×	1.51×	-0.13×	0.24×	0.48×	0.1×	0.16×	-4×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	0.8%	3.5%	-4.8%	-1.5%	5.0%	0.0%	-1.2%	-3.1%
Return on invested capital	2.7%	3.9%	-0.4%	0.5%	0.9%	-0.2%	0.2%	-5.5%
Return on assets	0.4%	1.5%	-2.0%	-0.6%	2.5%	0.0%	-0.6%	-1.8%
Free cash flow yield	19.6%	7.4%	-16.5%	-38.6%	-14.6%	-19.6%	-55.1%	-13.3%
Earnings yield	3.1%	8.7%	-19.0%	-5.4%	14.0%	0.1%	-6.1%	-11.3%
Enterprise value	$41.2M	$47M	$43.2M	$42.8M	$33.6M	$32M	$30.9M	$20.4M
Net debt / EBITDA	5.28×	4.57×	8.59×	7.9×	3.25×	5.26×	8.83×	22.17×
Cash conversion cycle (days)	12	9	2	1	-4	-6	-3	4