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ZYBERNO

Stock Report

Updated Aug 31, 2026

Aveanna Healthcare Holdings Inc. (AVAH)

Healthcare • NASDAQ

$13.32

Professional Investment Analysis

ZYBERNO SCORE →

Is it a great business? Is it getting better?

35.0/100

WEAK BUSINESS

Aveanna Healthcare Holdings Inc. (AVAH) scores 35/100 — weak fundamentals with mixed indicators requiring careful analysis before acting.

📊 How is the Zyberno Score calculated? +

The Zyberno Score answers one question: "Is this a quality business worth owning?" It's a 0-100 investment grade that evaluates business fundamentals across four critical dimensions, based on principles from Warren Buffett, Benjamin Graham, Peter Lynch, and Charlie Munger.

The 4 Core Categories (25 points each):

1. PROFITABILITY (25 pts)

Metrics: ROE, ROIC, Net Margin, Operating Margin
Thresholds: ROE >20% excellent • ROIC >20% excellent • Net Margin >20% excellent • Operating Margin >25% excellent

2. FINANCIAL STRENGTH (25 pts)

Metrics: Debt-to-Equity, Current Ratio, Interest Coverage, Altman Z-Score
Thresholds: D/E <0.3 excellent • Current Ratio >2.5 excellent • Interest Coverage >10x excellent • Altman Z >3.0 safe

3. CASH FLOW QUALITY (25 pts)

Metrics: Free Cash Flow, OCF vs Net Income, FCF Margin
Thresholds: Positive & growing FCF excellent • OCF/NI >1.2x excellent (cash earnings exceed accounting)

4. GROWTH & CONSISTENCY (25 pts)

Metrics: Revenue Growth, Net Income Growth, FCF Growth, Piotroski F-Score
Thresholds: Growth via log-linear regression • Piotroski 8-9 excellent, 6-7 good

Score Interpretation:

75-100

GREAT BUSINESS

65-74

GOOD BUSINESS

50-64

AVERAGE BUSINESS

30-49

WEAK BUSINESS

0-29

POOR BUSINESS

→ View full AVAH quality analysis & detailed breakdown

VALUATION SIGNAL

MARGIN OF SAFETY

Is this stock cheap or expensive relative to what the business has historically generated for owners?

Margin of Safety unavailable — insufficient data for the owner-earnings DCF.

BRINA GAP ↗

Is the market underestimating or overestimating what this business is capable of going forward?

-7.5%

Market Overestimates

💰 How is Margin of Safety calculated? +

Margin of Safety measures how much discount or premium you're paying relative to a stock's intrinsic value. It's Benjamin Graham's core principle: the larger the margin, the lower your downside risk.

Formula: (Intrinsic Value − Current Price) ÷ Intrinsic Value × 100%

How We Calculate Intrinsic Value (DCF Method):

Step 1: Calculate current Owner Earnings (OCF − Maintenance CapEx)

Step 2: Calculate company-specific growth rate using log-linear regression on 16 quarters of Owner Earnings

Step 3: Project 10 years forward using the calculated growth rate

Step 4: Discount each year's cash flow to present value using 10% discount rate

Step 5: Calculate terminal value using 3% perpetual growth rate

Step 6: Sum all discounted cash flows = Intrinsic Value

What The Percentages Mean:

+50% or more

EXCELLENT — Very undervalued

+25% to +50%

GOOD — Attractive discount

0% to +25%

FAIR — Reasonable value

0% to -25%

CAUTION — Slight premium

-25% or worse

POOR — Overvalued

"Price is what you pay, value is what you get." — Warren Buffett

→ View full AVAH valuation analysis · → View full AVAH Brina Gap analysis

📈 How is Brina Gap calculated? +

Brina Gap measures the difference between the growth a business can fundamentally sustain and the growth the market is already pricing in.

Formula: Fundamental Growth Rate − Market-Implied Growth Rate

The Two Components:

Fundamental Growth Rate = ROIC × Reinvestment Rate

What the business can sustainably grow at based on how much it reinvests and what return it earns on that capital. Grounded in historical financials.

Market-Implied Growth Rate = Reverse DCF

The growth rate the current Enterprise Value implicitly assumes. Calculated by back-solving a 10-year DCF model (10% WACC, 3% terminal growth) until the present value of projected cash flows equals EV.

What The Gap Means:

Gap > +5% Market Underestimates — potential upside

+2% to +5% Slight Underestimate

-2% to +2% Fairly Priced — market consensus matches fundamentals

-5% to -2% Slight Overestimate

Gap < -5% Market Overestimates — price embeds optimism fundamentals don't support

A positive gap (market underestimates) combined with a positive Margin of Safety is the strongest combined signal — the business is both cheap historically and forward economics are stronger than the price suggests.

Critical Financial Health Indicators

Return on Equity (Profitability):EXCELLENT (93.8%)

Debt-to-Equity (Solvency Risk):CRITICAL (4.65x)

Operating Margin (Operational Efficiency):AVERAGE (11.2%)

Return on Capital (Capital Efficiency):AVERAGE (13.1%)

📊 Valuation Trilogy

Three interconnected metrics for complete valuation analysis

Click any metric for full methodology and detailed analysis

Zyberno's Verdict

Aveanna Healthcare Holdings Inc. (AVAH) stock report — Zyberno Score 35/100 (WEAK BUSINESS). Full financial analysis on Zyberno.

According to Zyberno's DCF model, Aveanna Healthcare Holdings Inc. (AVAH) shows a Brina Gap of -7.5%, which weakens the case: based on the company's ROIC (13.1%) and reinvestment rate (2.1%), the business can fundamentally grow at 0.3% — but the current enterprise value implies the market expects 7.8%.

DIVISION I: EXECUTIVE SUMMARY

A. Market Valuation

Market Price & Capitalization (2)

Current Price:13.32

Market Cap:$2.90B

Valuation Multiples (4)

P/E Ratio:

23.79x

📊 Click to view full AVAH P/E analysis →

P/B Ratio:10.10x

P/S Ratio:1.15x

Peg Ratio:0.02x

Enterprise Metrics (2)

Enterprise Value:$4.15B

Ev Ebitda Ratio:14.12x

Price Action & Momentum (1)

% of 52-Week High:95.3%

B. Profitability Assessment

Return Metrics (7)

ROE:

93.8%

📊 Click to view full AVAH ROE analysis →

ROA:6.4%

Roic:

13.1%

📊 Click to view full AVAH ROIC analysis →

Reinvestment Rate:2.1%

Fundamental Growth Rate (g):0.3%

Market-Implied Growth Rate:7.8%

Brina Gap:

-7.5%

☷ Click to view full AVAH Brina Gap analysis →

Margin Analysis (3)

Operating Margin Ttm:11.2%

Net Margin Ttm:4.9%

Ebitda Margin:11.6%

TTM Performance (3)

Gross Margin Ttm:33.1%

Operating Margin Ttm:11.2%

Net Margin Ttm:4.9%

Yield Metrics (2)

Earnings Yield:$4.20

Dividend Yield:0.0%

C. Log-Linear Regression Growth Trends

Earnings Surprise (SUE) (3)

Earnings Surprise (SUE):

-0.07

📊 Click to view full AVAH Earnings Surprise analysis →

EPS Surprise vs Expected:-27.2%

Latest Earnings Filed:2026-08-13

Revenue Growth (Linear) (1)

Revenue Growth Rate (Linear):11.2%

Earnings Growth (Linear) (1)

Net Income Growth Rate (Linear):7.7%

Cash Flow Growth (Linear) (1)

Operating Cash Flow Growth Rate (Linear):-27.9%

Operating Growth (Linear) (1)

Operating Income Growth Rate (Linear):46.7%

D. Financial Stability

Liquidity Ratios (3)

Current Ratio:1.16x

Quick Ratio:1.16x

Cash Ratio:0.24x

Leverage Analysis (3)

Debt To Equity Ttm:4.65x

Debt-to-Equity Ratio:4.65x

Debt To Ebitda:4.58x

Coverage Ratios (2)

Interest Coverage Ratio:2.00x

Times Interest Earned:2.00

Capital Structure (4)

Working Capital:66,770,000.00

Cash And Cash Equivalents:97,196,000.00

Long Term Debt:$1.28B

Net Debt:$1.25B

DIVISION II: FINANCIAL STATEMENTS ANALYSIS

A. Income Statement Analysis

Revenue Components (2)

Revenue TTM: $2.53B

Linear Growth: 11.2%

📊 Click to view full AVAH Revenue analysis & methodology →

Cost Of Revenue Ttm:$0.00

Profitability Breakdown (2)

Gross profit TTM: $837.58M

Linear Growth: 13.4%

📊 Click to view full AVAH Gross Profit analysis & methodology →

Operating income TTM: $282.92M

Linear Growth: 46.7%

📊 Click to view full AVAH Operating Income analysis & methodology →

Bottom Line Performance (3)

Net income TTM: $123.04M

Linear Growth: 7.7%

📊 Click to view full AVAH Net Income analysis & methodology →

Income Before Tax:$159.00M

Ebitda Ttm:294,032,000.00

Operating Expenses (5)

Operating Expenses:0.00

R And D Expense:0.00

Sga Expense:378,339,000.00

Income Tax Expense:$35.97M

Interest Expense:128,064,000.00

Expense Ratios (3)

R And D To Revenue Percentage:0.0%

Sga To Revenue Percentage:56.4%

Ebitda Margin:11.6%

B. Balance Sheet Analysis

Asset Composition (5)

Total Assets:$2.11B

Current Assets:$478.09M

Ppe Net:18,442,000.00

Goodwill:1,276,019,000.00

Intangible Assets:$99.82M

Liability Structure (4)

Total Liabilities:1,818,370,000.00

Current Liabilities:411,324,000.00

Long Term Debt:$1.28B

Short Term Debt:$62.31M

Equity & Capital (3)

Equity:$287.28M

Retained Earnings:-$1.08B

Common Stock:1,000,000,000.00

Working Capital Items (3)

Accounts Receivable:337,233,000.00

Inventory:0.00

Accounts Payable:0.00

Special Items (2)

Contract Liabilities:0.00

Stock Based Compensation:4,147,000.00

C. Cash Flow Analysis

Operating Activities (2)

Operating cash flow TTM: $125.86M

Linear Growth: -27.9%

$0.00

Investment Activities (1)

Investing Cash Flow:-$4.56M

Financing Activities (3)

Financing Cash Flow:-$3.78M

Dividends Paid Ttm:0.00

Stock Repurchase:0.00

Capital Transactions (3)

Common Stock Issuance:0.00

Long Term Debt Issuance:$0.00

Long Term Debt Repayments:$0.00

Non-Cash Items (1)

Depreciation Amortization Ttm:11,109,000.00

DIVISION III: OPERATIONAL METRICS

A. Per Share Analysis

Earnings Per Share (3)

EPS (Basic TTM):0.58

Eps diluted TTM: $0.56

Linear Growth: 2.9%

📊 Click to view full AVAH EPS analysis & methodology →

Earnings Per Share Ttm:$0.56

Revenue & Cash Per Share (2)

Sales Per Share Ttm:11.62

Operating Cash Flow Per Share:$0.58

Book Value & Capital (2)

Book Value Per Share:$1.32

Cash Per Share:0.45

Dividend Policy (1)

Dividend Payout Ratio:0.00x

B. Operational Efficiency

Asset Utilization (2)

Asset Turnover Ttm:1.31x

Working Capital Turnover Ttm:37.89x

Receivables Management (2)

Receivables Turnover Ttm:7.50x

Days Sales Outstanding Ttm:48.65

Inventory Management (2)

Inventory Turnover Ttm:-999.00x

Days Inventory Outstanding Ttm:-999.00

Payables & Cash Cycle (2)

Days Payable Outstanding:-999.00

Cash Conversion Cycle:48.65

C. Quality & Risk Metrics

Financial Quality Scores (2)

Financial Strength Score:20.00

Quality Score:60.00

Market Metrics (2)

Beta:0.00x

Volatility Category:unknown

DIVISION IV: INVESTMENT ANALYSIS

A. Value Investment Framework

Damodaran Growth Analysis (4)

Reinvestment Rate:2.1%

Fundamental Growth Rate (g):0.3%

Market-Implied Growth Rate:7.8%

Brina Gap:

-7.5%

☷ Click to view full AVAH Brina Gap analysis →

B. Log-Linear Regression Growth Analysis

Growth Rates (Log-Linear Regression) (3)

Revenue Growth Rate (Linear):11.2%

Net Income Growth Rate (Linear):7.7%

Operating Income Growth Rate (Linear):46.7%

Cash Flow Growth Rates (1)

Operating Cash Flow Growth Rate (Linear):-27.9%

Other Growth Rates (2)

Gross Profit Growth Rate (Linear):13.4%

Book Value Growth Rate (Linear):-29.7%

C. Company Profile & Context

Corporate Information (6)

Symbol:AVAH

Company Name:Aveanna Healthcare Holdings Inc.

Sector:Healthcare

Industry:Services-Home Health Care Services

Exchange:NASDAQ

Country:United States

Market Classification (3)

Market Cap Category:N/A

Price Category:medium

Volume Category:N/A

Share Structure (3)

Shares Outstanding:217.80M

Shares Outstanding Basic:217.80M

Shares Outstanding Diluted:224.86M

Data Processing Info (3)

Processing Version:v3.0

Last Updated:2026-08-31 15:36:40 UTC

Data Timestamp:2026-08-31T15:36:40.832913