AWXNYSERefuse SystemsFiscal year ends December 31
AVALON HOLDINGS CORP
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 7, 2026
$2.62+0.12 (+4.80%)
Close on Oct 19, 2026
- Market cap
- $10.22M
- P/E (TTM)
- 8.5
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
19.5%
Operating margin
2.4%+2.2 pts over 5 years
Net margin
0.4%+0.4 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -0.3% | +1.0% | +7.3% | +4.6% | |
| Gross profit | -5.2% | – | – | +6.3% | |
| Operating income | -34.1% | +80.0% | +74.8% | – | |
| Net income | -75.6% | – | +87.1% | – | |
| Free cash flow | +83.6% | – | – | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -0.2% | 0.0% | 0.8% | |
| Return on assets | -0.1% | 0.0% | 0.4% | |
| Current ratio | 1.02 | 0.89 | 1.01 | |
| Debt to equity | 0.30 | 0.63 | 0.75 | |
| Net debt to EBITDA | 2.51× | 6.37× | 4.21× | |
| Interest coverage | -0.5× | 0.1× | 1.0× | |
| Inventory turnover | 63.0× | – | 43.2× | |
| Capex to revenue | 4.9% | 7.7% | 2.1% | |
| Diluted shares | 4M | 4M | 4M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Avalon generated $14.13M from operations and spent $18.69M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$14.13M
Used
$18.69M
Capital expenditure$18.69M100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin0.4%
×Asset turnover0.96×
×Equity multiplier2.27×
=Return on equity, FY20250.8%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 0.4% | 0.96× | 2.27× | 0.8% |
| FY2024 | 1.6% | 0.96× | 2.33× | 3.5% |
| FY2023 | -2.2% | 0.91× | 2.36× | -4.7% |
| FY2022 | -0.7% | 0.97× | 2.16× | -1.5% |
| FY2021 | 2.8% | 0.90× | 2.05× | 5.2% |
| FY2020 | 0.0% | 0.75× | 2.12× | 0.0% |
| FY2019 | -0.7% | 0.95× | 1.93× | -1.2% |
| FY2018 | -1.8% | 0.96× | 1.71× | -3.0% |
| FY2017 | -0.5% | 0.84× | 1.73× | -0.8% |
| FY2016 | -0.1% | 0.94× | 1.68× | -0.2% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
7of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$321.00K
- Cash generatingOperating cash flow above zero$3.78M
- Return on assets improvedROA up on the prior year1.5% → 0.4%
- Earnings backed by cashOperating cash flow above net income$3.78M vs $321.00K
- Less leverageLong-term debt to assets fell33.2% → 32.1%
- Better liquidityCurrent ratio rose0.94 → 1.01
- No dilutionShare count did not rise4M → 4M
- Gross margin improvedGross margin up on the prior year20.56% → 19.55%
- More efficientAsset turnover rose0.95 → 0.97