Aveanna Healthcare Holdings
AVAH on Nasdaq. Aveanna Healthcare Holdings sells home healthcare services to children and adults. Market value $2.7bn.
Price checks use the past 12 months to June 2026. Some use the latest annual report instead, as marked. Quality checks use five annual reports, the latest for the year to December 2025.
Cash flow or capital spending isn't reported, so free cash flow is unknown.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
See Health care stocks that passed both tests
This is not advice. Check the numbers below.
We could not compute this from the filings.
You pay 14.1 years of operating profit for the business. The average large US company costs around 18.
Each dollar kept in the business earns 1 cents a year. Above 10 is good.
Quality score: 31 of 100. Price score: 79 of 100. Our list needs 70 on quality and 60 on price.
$12.22 a share, 106% above its 1-year low
Over the past year the price has ranged from $5.93 to $14.71.
Pays no dividend
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $1.7bn | $1.8bn | $1.9bn | $2.0bn | $2.4bn |
| Operating margin | |||||
| Operating margin | -2.2% | -35.9% | 0.4% | 6.9% | 10.5% |
| Debt to equity | |||||
| Debt to equity | 1.94 | n/a | n/a | n/a | 6.68 |
| Shares outstanding | |||||
| Shares outstanding | 0.19bn | 0.19bn | 0.19bn | 0.21bn | 0.22bn |
Health checks
- Free cash flow positive0 of 1 years
- Accounting looks honest (Beneish)Watch
- Financial strength (Piotroski)5 of 9
- Profit backed by cash (accruals)Yes
- Debt6.68× equity
- Revenue growth, five yearsSlow, 9.7% a year
- Buying back its own sharesNo, 17% more shares since 2021
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $670 million last quarter, up 14% on a year ago.
- Profit: $40 million, up 49% on a year ago.
- It keeps 11 cents of each $1 of sales as operating profit, up from 10 cents a year earlier.
- 7% more shares than a year ago. Each share owns a bit less of the company.
- Debt is $1.2 billion more than cash, about the same as a year ago.
- Sales grew on a year ago in each of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $509m |
| December 2024 | $520m |
| March 2025 | $559m |
| June 2025 | $590m |
| September 2025 | $622m |
| December 2025 | $662m |
| March 2026 | $648m |
| June 2026 | $670m |
| Quarter to | Amount |
|---|---|
| September 2024 | -$43m |
| December 2024 | $29m |
| March 2025 | $5m |
| June 2025 | $27m |
| September 2025 | $14m |
| December 2025 | $179m |
| March 2026 | $42m |
| June 2026 | $40m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 19 March 2026
- Next quarterly (estimated, 10-Q)
- 12 November 2026
Who owns it
4 long-term investors we follow own it, up from 3 last quarter. 215 funds in all.
- Boston PartnersBoston Partners team
- Value
- $25m
- Share of fund
- <0.1%
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Boston PartnersBoston Partners team | $25m | <0.1% | |
| First Eagle Investment ManagementMatthew McLennan | $13m | <0.1% | Added |
| Gotham Asset ManagementJoel Greenblatt | $378,880 | <0.1% | Added |
| LSV Asset ManagementJosef Lakonishok | $370,000 | <0.1% | New |
Largest holders overall
- Bain Capital Investors$699m
- J.H. Whitney Equity Partners VII$232mCut
- Nut Tree Capital Management, LP$111m
- BlackRock$64mAdded
- Ophir Asset Management Pty$44mNew
- Vanguard Capital Management$31mCut
- Braidwell LP$26mAdded
- Boston Partners$25m
- Citadel Advisors$20mAdded
- Dimensional Fund Advisors LP$19mAdded
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
2 investors own more than 5%.
- PSA Healthcare Investment Holdings LLCPassive investor8.0%Since 30 June 2025
- PSA Healthcare Investment Holding LLCPassive investorat least 7.1%−2.1 pts(filed with 4 related holders)Since 30 June 2026
| Holder | Stake | Since | |
|---|---|---|---|
PSA Healthcare Investment Holdings LLC Passive investor | 8.0% | 30 June 2025 | |
PSA Healthcare Investment Holding LLC Passive investor | at least 7.1%−2.1 pts (filed with 4 related holders) | 30 June 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 6 sold $12m, $8m of it under preset trading plans.
- Windley Rodney DDirectorSold
- Date
- 20 August 2026
- Shares
- 180,000
- Price
- $11.50
- Value
- $2m
- Shaner JeffChief Executive OfficerSold
- Date
- 20 August 2026
- Shares
- 90,000
- Price
- $11.50
- Value
- $1m
- Reisz Edwin C.Chief Administrative OfficerSold
- Date
- 20 August 2026
- Shares
- 50,000
- Price
- $11.50
- Value
- $575,000
- Cunningham Patrick A.Chief Compliance OfficerSold
- Date
- 20 May 2026
- Shares
- 125,000
- Price
- $7.59
- Value
- $948,750
- Shaner JeffChief Executive OfficerSoldunder a preset trading plan
- Date
- 19 February 2026
- Shares
- 173,225
- Price
- $7.21
- Value
- $1m
- Cunningham Patrick A.Chief Compliance OfficerSoldunder a preset trading plan
- Date
- 19 February 2026
- Shares
- 18,436
- Price
- $7.21
- Value
- $132,924
- Buckhalter MatthewChief Financial OfficerSoldunder a preset trading plan
- Date
- 19 February 2026
- Shares
- 13,512
- Price
- $7.21
- Value
- $97,422
- Stewart DeborahSVP, Chief Accounting OfficerSoldunder a preset trading plan
- Date
- 19 February 2026
- Shares
- 11,181
- Price
- $7.21
- Value
- $80,615
- Reisz Edwin C.Chief Administrative OfficerSoldunder a preset trading plan
- Date
- 19 February 2026
- Shares
- 60,769
- Price
- $7.21
- Value
- $438,144
- Shaner JeffChief Executive OfficerSoldunder a preset trading plan
- Date
- 18 February 2026
- Shares
- 168,800
- Price
- $7.38
- Value
- $1m
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 20 August 2026 | Windley Rodney D Director | Sold | 180,000 | $11.50 | $2m |
| 20 August 2026 | Shaner Jeff Chief Executive Officer | Sold | 90,000 | $11.50 | $1m |
| 20 August 2026 | Reisz Edwin C. Chief Administrative Officer | Sold | 50,000 | $11.50 | $575,000 |
| 20 May 2026 | Cunningham Patrick A. Chief Compliance Officer | Sold | 125,000 | $7.59 | $948,750 |
| 19 February 2026 | Shaner Jeff Chief Executive Officer | Sold under a preset trading plan | 173,225 | $7.21 | $1m |
| 19 February 2026 | Cunningham Patrick A. Chief Compliance Officer | Sold under a preset trading plan | 18,436 | $7.21 | $132,924 |
| 19 February 2026 | Buckhalter Matthew Chief Financial Officer | Sold under a preset trading plan | 13,512 | $7.21 | $97,422 |
| 19 February 2026 | Stewart Deborah SVP, Chief Accounting Officer | Sold under a preset trading plan | 11,181 | $7.21 | $80,615 |
| 19 February 2026 | Reisz Edwin C. Chief Administrative Officer | Sold under a preset trading plan | 60,769 | $7.21 | $438,144 |
| 18 February 2026 | Shaner Jeff Chief Executive Officer | Sold under a preset trading plan | 168,800 | $7.38 | $1m |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
None of the warning signs we check for were found.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 19 Mar 2026, plus the 10-Q filed 13 Aug 2026 and 11 later 8-Ks.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
- It carries a lot of debt: 6.7× its equity.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.