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Avista cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$51.0M in Q3 2026 · −$192M over twelve months

Operating cash flow$134M
Capital spending−$185M
Free cash flow−$51.0M
Cash / net income2.7×

Analysis

In Q3 2026, Avista generated $134M of operating cash flow and spent $185M on capital projects, leaving free cash flow of −$51.0M. That is $88.0M less than in Q3 2025 ($37.0M).

Over the twelve months to Sep 30, 2026, operating cash flow was $510M; the largest uses were capital spending ($702M), dividends ($164M), other investing ($14.0M); besides operations, cash came from net borrowing (+) / repaid (−) ($271M), shares issued ($91.0M); the cash balance fell by $12.0M.

Operating cash flow was $134M against net income of $49.0M — 2.7× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$75.0M, other liabilities +$20.0M, prepaid and other assets +$17.0M.

Free cash flow

Avista: free cash flow by quarterAvista: free cash flow by quarter−$38.0MQ4 2024$81.0MQ1 2025−$103MQ2 2025$37.0MQ3 2025−$116MQ4 2025$29.0MQ1 2026−$54.0MQ2 2026−$51.0MQ3 2026
Operating cash flow less capital spending.
Avista: operating cash flow against capital spendingAvista: operating cash flow against capital spendingOperating cash flowCapital spending$90.0M$128MQ4 2024$184M$103MQ1 2025$40.0M$143MQ2 2025$170M$133MQ3 2025$75.0M$191MQ4 2025$179M$150MQ1 2026$122M$176MQ2 2026$134M$185MQ3 2026
Latest (Q3 2026): Operating cash flow $134M, Capital spending $185M.

Capital allocation, year by year

Avista: where the cash came from (up) and went (down), by fiscal yearAvista: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingDividendsFY2021: Operating cash flow $267MFY2021: Net borrowing $218MFY2021: Shares issued $90.0MFY2021: Capital spending −$440MFY2021: Dividends −$118M$575MFY2021FY2022: Operating cash flow $124MFY2022: Net borrowing $326MFY2022: Shares issued $137MFY2022: Capital spending −$452MFY2022: Dividends −$129M$587MFY2022FY2023: Operating cash flow $447MFY2023: Net borrowing $119MFY2023: Shares issued $113MFY2023: Capital spending −$499MFY2023: Dividends −$141M$679MFY2023FY2024: Operating cash flow $534MFY2024: Net borrowing $86.0MFY2024: Shares issued $68.0MFY2024: Capital spending −$533MFY2024: Dividends −$150M$688MFY2024FY2025: Operating cash flow $469MFY2025: Net borrowing $169MFY2025: Shares issued $78.0MFY2025: Capital spending −$570MFY2025: Dividends −$159M$716MFY2025
Over these 5 years operating cash flow totalled $1.8B; the largest uses were capital spending ($2.5B) and dividends ($697M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$32.0M
Debt$331M
Net debt$299M

Avista's operations bring cash in ($510M over twelve months), and it spends more than that on capital projects: a gap of $192M funded from its $32.0M of cash and investments and from borrowing ($331M of debt). That is a choice to invest, not a cash runway running down.

Where the cash came from and went

Avista: sources (+) and uses (−) of cash, Q3 2026Avista: sources (+) and uses (−) of cash, Q3 2026Capital spending−$185MOperating cash flow$134MNet borrowing (+) / repaid (−)$106MDividends−$43.0MCash drawn (+) / kept (−)−$7.0MOther investing−$6.0MOther financing$1.0M
Avista: sources (+) and uses (−) of cash, TTM to Q3 2026Avista: sources (+) and uses (−) of cash, TTM to Q3 2026Capital spending−$702MOperating cash flow$510MNet borrowing (+) / repaid (−)$271MDividends−$164MShares issued$91.0MOther investing−$14.0MCash drawn (+) / kept (−)$12.0MOther financing−$4.0M

From profit to cash

Avista: net income to operating cash flow, Q3 2026Avista: net income to operating cash flow, Q3 2026Net income$49.0MDepreciation & amortization$75.0MStock-based pay$3.0MDeferred taxes$13.0MInventory−$12.0MPayables$1.0MPrepaid and other assets$17.0MOther liabilities$20.0MOperating cash flow$134M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$134M−$185M−$43.0M$106M—−$7.0M−$51.0M
Q2 2026$122M−$176M−$40.0M−$90.0M$44.0M−$7.0M−$54.0M
Q1 2026$179M−$150M−$41.0M−$4.0M$14.0M$1.0M$29.0M
Q4 2025$75.0M−$191M−$40.0M$99.0M$33.0M$25.0M−$116M
Q3 2025$170M−$133M−$40.0M$21.0M$10.0M−$35.0M$37.0M
Q2 2025$40.0M−$143M−$39.0M$117M$19.0M$8.0M−$103M
Q1 2025$184M−$103M−$40.0M−$68.0M$16.0M$13.0M$81.0M
Q4 2024$90.0M−$128M−$38.0M$67.0M$32.0M−$21.0M−$38.0M

Avista: income statement and cash flow

Avista, Q3 2026: revenue $421M (+4% year over year), operating margin 15.7%. The chart follows the revenue to costs, profit and cash.

Avista: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.