debt_leverage_profile
0.44x Total Debt / Equity (Conservative)
High
SEC-XBRL
interest_rate_sensitivity
A 200bps rate increase raises annual interest expense ~$30-50M given ~$1.5B long-term debt; rate resets on variable-rate debt amplify regulated cost recovery lag risk
Inferred
Agent_Inference
geopolitical_supply_exposure
High intensity; European gas dependency on Russia exposed structural energy security vulnerabilities.
Medium
GICS-commodity-overlay-v1
supply_chain_dependency
Natural gas pipeline infrastructure chokepoints: Sumas/Huntingdon Canadian border crossing; Pacific Northwest transmission corridor vulnerable to wildfire disruption
Inferred
Agent_Inference
international_expansion_readiness
null
Inferred
Agent_Inference
geographic_footprint
Avista operates exclusively in Pacific Northwest US (WA, ID, OR, MT, AK); no international revenue exposure; sovereign currency devaluation risk is effectively zero
Inferred
Agent_Inference
commodity_exposure_profile
High intensity; commodities: Natural Gas, Coal, Uranium, Crude Oil, Copper (grid), Lithium (storage); geopolitical: European gas dependency on Russia exposed structural energy security vulnerabilities.
Medium
GICS-commodity-overlay-v1
vendor_lock_dependency_score
Natural gas supply contracts with Westcoast Energy/Spectra pipeline represent critical non-substitutable transmission dependency; no single vendor >30% but pipeline access is near-monopoly
Inferred
Agent_Inference
business_model_type_primary
Avista is a regulated electric and gas utility with physical grid infrastructure; cloud provider termination would affect billing/IT systems only, not core energy delivery operations
Inferred
Agent_Inference
business_model_type_secondary
IT/customer systems disruption would impair outage management and billing for ~30 days but physical grid operations would continue via SCADA and legacy OT systems
Inferred
Agent_Inference
switching_cost_profile
Minimal API coupling risk; core operations rely on proprietary SCADA/OT systems; customer-facing digital platforms have moderate cloud dependency but are non-critical to service delivery
Inferred
Agent_Inference
howey_test_risk_index
Fails Howey Test; regulated utility revenue model involves tariff-based energy sales, not investment contracts; securities law reclassification risk is effectively zero
Inferred
Agent_Inference
regulatory_burden_tier
Very High
Medium
GICS-regulatory-overlay-v1
data_sovereignty_risk
Low GDPR exposure due to US-only operations; CCPA compliance required for California customers using interstate services; customer billing data governance is primary compliance focus
Inferred
Agent_Inference
antitrust_exposure_flag
Low antitrust risk; state-sanctioned regulated monopoly in service territories; rates and terms set by WA UTC, Idaho PUC, and OPUC; no competitive market conduct to scrutinize
Inferred
Agent_Inference
regulatory_exposure_profile
Very High burden; regimes: FERC, NERC, EPA, NRC, State PUCs, DOE; Rate-case lag and clean-energy mandates compress returns on regulated asset base.
Medium
GICS-regulatory-overlay-v1
revenue_model_type
~95% recurring tariff-based utility revenue under multi-year regulatory rate cases; <5% transactional from unregulated subsidiary Avista Development and miscellaneous services
Inferred
Agent_Inference
monetization_vector
Volumetric kilowatt-hour and therm consumption charges plus fixed customer charges; revenue earned per unit of energy delivered through regulated rate schedules
Inferred
Agent_Inference
pricing_architecture
Cost-of-service regulation caps pricing power; rates set via general rate cases every 2-4 years; decoupling mechanisms in WA/ID partially insulate revenue from volume risk
Inferred
Agent_Inference
pricing_power_rating
Low autonomous pricing power; fully rate-regulated; price increases require regulatory approval averaging 12-18 months; earned ROE constrained to ~9-10% authorized return
Inferred
Agent_Inference
target_gross_margin_bracket
Utility gross margin ~35-45% after purchased power and natural gas costs; regulated return structure limits expansion beyond authorized ROE band
Inferred
Agent_Inference
churn_vulnerability_index
No free-rider leakage; captive monopoly customer base with no practical switching option; residential churn limited to customer relocation within/outside service territory
Inferred
Agent_Inference
headcount_cost_structure
Revenue growth is capital-linear not headcount-linear; doubling renewable generation capacity requires proportionally less incremental headcount; O&M cost grows sublinearly vs. rate base
Inferred
Agent_Inference
marginal_cost_of_growth
Marginal growth cost is capital-intensive (grid infrastructure, generation assets) but operationally sublinear; incremental customers served at low marginal operating cost once infrastructure is built
Inferred
Agent_Inference
franchise_compliance_risk
null
Inferred
Agent_Inference
customer_acquisition_metric
At 10x scale, customer acquisition remains near-zero cost (captive territory); unit economics improve with rate base growth enabling higher absolute allowed earnings on larger equity base
Inferred
Agent_Inference
network_effect_present
No traditional network effects; grid reliability improves marginally with scale but value per customer does not increase with customer count; natural monopoly economics substitute for network effects
Inferred
Agent_Inference
asset_efficiency_ratio
2.6% Return on Assets (Excellent)
High
SEC-XBRL
recession_resistance_tier
Tier 1 recession resistant; essential utility service with inelastic demand; regulated revenue decoupling in key states; residential mix ~40% provides stability vs. commercial/industrial cyclicality
Inferred
Agent_Inference
customer_segment_primary
Residential customers ~40% of revenue; no single residential customer >0.1% of revenue; concentration risk is low across ~400,000 electric and ~330,000 gas customers
Inferred
Agent_Inference
customer_segment_secondary
Commercial and industrial customers ~55% of revenue; top 10 industrial customers (aluminum smelters, manufacturers) represent estimated 8-12% of electric revenue; modest concentration risk
Inferred
Agent_Inference
characteristic_occupations
["11-0000 Management Occupations", "13-0000 Business and Financial Operations Occupations", "15-0000 Computer and Mathematical Occupations", "17-0000 Architecture and Engineering Occupations", "23-0000 Legal Occupations", "41-0000 Sales and Related Occupations", "43-0000 Office and Administrative Support Occupations", "47-0000 Construction and Extraction Occupations", "49-0000 Installation, Maintenance, and Repair Occupations"]
High
SOC-2018/GICS-overlay
agent_automatable_labor_share
0.34 (HIL — ~34% of characteristic roles agent-automatable)
Medium
SOC-2018 + agentic-exposure-v1
capital_expenditure_profile
29.0% CapEx / Revenue (High-CapEx Infrastructure)
High
SEC-XBRL
sec_cik
0000104918
High
SEC-EDGAR
ticker
AVA
High
SEC-EDGAR